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To say that the six countries that make up the Gulf Cooperative Council (GCC) live and breathe hydrocarbons is hardly an exaggeration. About 60years ago, the average city in Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Qatar, Bahrain, and Oman was home to maybe a few thousand people; fast …

Deputy Prime Minister Alexander Novak has said that Russia is willing to cut its crude oil production, if necessary, as part of its response to the G7 price cap of $60 per barrel on the country’s crude exports. Novak told the Rossiya 24 television channel that output could fall by …

Shell Petroleum has agreed to pay €15 million ($15.9 million) as settlement to Nigeria over oil pipeline leaks in the country’s Niger Delta in the early 2000s. In a statement on Friday, Shell said it had negotiated the settlement for the benefit of the Oruma, Goi and Ikot Ada Udo …

Around the globe, energy companies and governments are racing to develop their hydrogen storage capacity in an attempt to boost their energy security and reduce their reliance on natural gas. As investment into the research and development of hydrogen technologies increases, several world powers are developing better storage solutions to …

Oil rallied to a three-week high and clinched a second straight weekly gain after Russia warned it may cut output by as much as 700,000 barrels a day in response to sanctions on the nation’s crude. With trading volumes dwindling heading into the Christmas holiday, Russia’s threat outweighed the impacts …

European natural gas prices fell for a fifth day as temperatures are forecast to stay mild into the new year while supplies remain plentiful. Benchmark futures declined as much as 7%, after closing at the lowest level since mid-June on Wednesday. Prices have been sliding over the last two weeks …

Senex Energy announced it was suspending an investment project in the Surat Basin in Queensland after the Australian government approved a cap on domestic gas prices that caused outrage in the industry. “New laws passed by the Albanese Government that could arbitrarily dictate investment returns for gas producers puts at …

Japanese heavyweight Mitsui O.S.K. Lines (MOL), its group company Ferry Sunflower Limited, and Kyushu Electric Power Co. (Kyuden) have revealed that Sunflower Kurenai, Japan’s first LNG-fuelled ferry, received its first LNG fuel supply. As informed, the vessel was bunkered by Kyuden at the Port of Beppu. LNG fuel was supplied …

Canada will propose on Wednesday that one-fifth of all passenger cars, SUVs, and trucks sold in the country in 2026 be electric vehicles (EVs), The Canadian Press reports. The target, part of new regulations by the Environment Ministry, is also expected to mandate that all passenger vehicles sold in Canada …

India has seen a considerable increase in exports of solar modules following the Biden administration’s ban on such modules suspected of being produced using forced labor in China. According to a report in the Times of India, solar module exports during the third quarter of the year totaled $157 million, …