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The world must act swiftly to invest in oil to prevent future energy emergencies as global demand for the hydrocarbon grows in the long term, Organization of the Petroleum Exporting Countries (OPEC) Secretary General Haitham Al Ghais said on Tuesday, November 1. “If we don’t get it right this time, …

China and India will significantly expand their LNG import infrastructure over the next five years with the pair, led by China, set to record the highest LNG regasification capacity additions in Asia. China is set to register the highest liquefied natural gas (LNG) regasification capacity additions in Asia between 2022 …

The Iranian oil minister said Russian investors and companies have finalized a contract for developing 7 oil and gas fields with Iran worth $4.5 billion, and some projects have achieved 7 to 35% physical progress so far. Speaking in a coordination meeting with the representatives of different working groups of …

Japan is calling on people and businesses to repeat the energy conservation drive from the summer this winter, as energy scarcity and LNG price inflation continue to take a toll. Japanese citizens are being advised to turn off the lights in rooms they are not using and to wear an …

QatarEnergy has announced an oil discovery in the 4-BRSA-1386D-RJS well in Brazil’s world class Sépia oil field, which is located in the prolific Santos Basin in water depths of about 2,000 meters off the coast of Rio de Janeiro. QatarEnergy acquired a working interest in the Sépia Co-Participated Area in …

The United States has been exporting natural gas at record levels this year, with exporters making big profits on it and expected to continue making big profits because of Europe’s continued demand for the commodity. Yet prices at home have begun to climb higher, too, because natural gas production is …

Aramco and IBM have announced preliminary plans for a strategic collaboration to establish an Innovation Hub in Riyadh, Saudi Arabia. The collaboration aims to support high-tech driven economic growth in Saudi Arabia, leveraging emerging technologies in hybrid cloud, AI, and quantum computing to address objectives including circular economy, materials science, …

Japan will keep its investment in the Sakhalin-1 oil and gas project in Russia, said the nation’s trade chief. The government has requested a Japanese consortium to keep its stake in the project, the nation’s Trade Minister Yasutoshi Nishimura told the press on Tuesday. Japan has few resources of its …

President Joe Biden said he’d seek to impose higher taxes on oil companies that record “windfall” profits without reinvesting in production, with US gasoline prices still high a week ahead of midterm elections. “The oil industry has not met its commitment to invest in America and support the American people,” …

Russian President Vladimir Putin on Monday said a natural gas hub could be set up in Turkey quite easily and predicted that many countries in Europe would want to make deals for supplies. Putin made his remarks at a news conference in Sochi. Earlier this month, President Recep Tayyip Erdoğan …