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Japan’s Chief Cabinet Secretary said on Monday the Sakhalin 1 oil and Sakhalin 2 liquefied natural gas (LNG) projects in Russia are “extremely important” for the country’s stable energy supply and it does not intend to abandon its stake in the project. Hirokazu Matsuno’s remark came after Japan decided to …

The outlook for Qatar’s future role in global LNG trade is very promising since the country has a great potential to send its LNG cargoes into Asian markets with lower shipping costs compared to other LNG suppliers, the Gas Exporting Countries Forum (GECF) has said in a report. Additionally, Qatar …

Global LNG demand will more than double from 356mn tonnes in 2020 to 800mn tonnes by 2050, “fuelled by solid demand from Asia and a rise in gas use for powering hard-to-electrify sectors”, according to the Gas Exporting Countries Forum (GECF). The biggest regasification capacity additions to 2050 are expected …

Iraq’s Minister of Oil, Ihsan Abdul-Jabbar Ismail, dismissed the Kurdistan Regional Government’s management of the oil wealth as “faulty” and wasteful of the Iraqi treasury resources. Ismail’s remarks came during the fourth meeting of the opinion commission on the Supreme Federal Court’s ruling against the KRG’s oil and gas law, …

Shell Plc is reportedly in discussions over the sale of Shell Neft, its chain of retail fuel stations in Russia, as part of its exit plan in the aftermath of Russian President Vladimir Putin’s invasion of Ukraine, Bloomberg reported on Friday. “We can confirm the ongoing negotiations on the sale …

Chinese fuel demand will continue to expand this year, despite COVID lockdowns and weak economic data for April, says PetroChina, the country’s biggest oil and gas refiner. “With the improvement of the COVID situation, refined product inventory is now showing a downturn,” Reuters quoted Ren Lixin, vice president of PetroChina, …

The value of non-oil trade between Iran and Tajikistan stood at $131.038 million in the past Iranian calendar year 1400 (ended on March 20), the spokesman of Islamic Republic of Iran Customs Administration (IRICA) announced. Ruhollah Latifi put the weight of commodities traded between the two countries at 139,249 tons. …

Oil prices rose nearly 1.5 per cent on Friday, posting a second straight weekly increase as impending European Union sanctions on Russian oil raised the prospect of tighter supply and had traders shrugging off worries about global economic growth. Brent futures, the global benchmark, rose $1.49, or 1.3 per cent, …

Nigeria may lose its largest crude oil buyers, China and India, as both countries plan to negotiate Russian oil at discount prices. India is said to be asking Russia for below $70 per barrel discount price. The duo’s move comes as Europe considers banning Russian oil due to the country’s …

Russia plans to put the Nord Stream 2 gas pipeline to domestic use after the fuel exports to Germany and Europe that were envisaged in its decade-long construction were called off because of the war in Ukraine. The Baltic Sea pipeline was completed last year but had not yet entered …