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Oil prices rose in early trade on Thursday, building on gains in the previous session as China’s demand outlook improves and concerns rise over the impact of sanctions on Russian supply. Brent crude rose 50 cents, or 0.6 percent, to $83.17 per barrel by 0135 GMT, while US West Texas …

U.S. natural gas demand could be on track to hit record lows in January if unseasonably warm weather sticks around, according to Rystad Energy Vice President Emily McClain. “Despite consistently robust LNG demand, totaling around seven million tons, particularly from European buyers, prices are falling and expected to continue bearish …

Egypt exported some 8 million tons of liquefied natural gas last year, worth $8 to $8.5 billion, the country’s mineral resources ministry said this week, noting the price rally in liquefied natural gas that helped drive revenues higher. The North African country has solid ambitions in natural gas development, planning …

Oil prices slightly rose on Thursday over demand worries after a higher-than-expected increase in oil stockpiles in the US, the world’s largest oil consumer. International benchmark Brent crude traded at $82.75 per barrel at 09.22 a.m. local time (0622GMT), a 0.10% increase from the closing price of $82.67 a barrel …

Despite the recent plunge in the European benchmark gas prices to below the North Asian benchmark, Europe continues to attract most of the U.S. exports of LNG as demand in Asia is still weak. Last week, around 68% of the LNG shipments out of the United States were headed to …

A Libyan court has suspended a deal for offshore oil and gas exploration that Libya and Turkey inked last year, a deal that sparked outrage from neighbors Egypt and Greece. The deal concerned waters that Libya and Turkey have declared to be theirs but that are disputed by Egypt and …

The new Karbala refinery south of Baghdad is expected to reach full 140,000 barrels per day (bpd) capacity by July this year, a source at the facility told Reuters on Tuesday. The Karbala refinery, estimated to have cost just over $6 billion, is expected to begin commercial production of fuels …

Europe is still awash with liquefied natural gas despite a crash in benchmark prices as demand in Asia remains lackluster. A few weeks ago, it became more profitable to deliver US LNG to Asia than to Europe, but that premium has been insufficient to lure cargoes away from a region …

A decade ago, China used low prices to dominate solar manufacturing, wiping out western competitors right as worldwide demand for panels started to soar. The US and Europe are determined not to let the same thing happen with hydrogen. As the world sprints to decarbonise, the next round of competition …

Although the U.S. marked an historic shift in 2020 by becoming a net exporter of petroleum, it has remained a net importer of crude oil since the end of the Second World War, according to Energy Information Administration (EIA) data. For the relatively uninitiated, which appears to include Saudi Arabia …