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Norway currently has 90 oil and gas-producing fields, but – within a few years – it could rise to more than 130. While the world is struggling to adapt to a changing climate, the Norwegian petroleum industry is booming. Diderik Lund, an economics professor at the University of Oslo, told …

OPEC+ is not currently discussing halting oil output increases despite the United States and other countries releasing strategic reserves, Reuters reported, citing three sources. No such discussion took place among the member states of suspending current supply policy, which includes increasing oil output by 400,000 barrels per day (bpd) on …

The head of the world’s leading energy authority has said that some countries had failed to adopt a helpful position to calm soaring oil and gas prices, criticizing “artificial tightness” in energy markets. ″[A] factor I would like to underline that caused these high prices is the position some of …

Global oil prices continued their rise on Thursday with the coordinated release of oil from strategic reserves, which is being closely watched by investors who want to determine how prices will be affected. International benchmark Brent crude was trading at $82.42 per barrel at 0600 GMT for a 0.20% increase …

The UAE remains fully committed to the Declaration of Cooperation issued by OPEC+ oil producing countries, according to the Ministry of Energy and Infrastructure. The UAE “reiterates” that any decisions will be taken collectively by the OPEC+ group at the next Ministerial meeting. The comments come amidst major developments in …

Russia became the world’s largest oil producer in terms of volumes, outpacing the US in September 2021, the state statistics service Rosstat reported on Wednesday. In particular, Moscow produced 10.45 mln barrels of oil per day in July compared to 11.31 mln barrels per day produced by the US in …

OPEC+ is not currently discussing pausing oil output increases despite the United States and others releasing stocks, three OPEC+ sources told Reuters. The United States and several other nations agreed to release stocks after failing to convince OPEC to pump more oil as U.S gasoline prices soared adding to pressures …

Gazprom does not plan to produce shale gas that adversely affects the environment in view of being supported by proven reserves at conventional fields, the company said on Tuesday. “Gazprom also does not plan shale gas production in view of high availability of proven gas reserves at conventional fields, whose …

European natural gas futures rose on Tuesday after the U.S. imposed its latest sanctions aimed at Russia’s Nord Stream 2 pipeline, a move the Kremlin says is “illegal.” Crude’s rise, in response to plans by the U.S. and other oil-consuming nations to tap their strategic reserves, also gave natural gas …

The euro area is currently experiencing its fourth COVID wave with infection rates that clearly exceed the previous waves, particularly, in countries where the vaccinated share of the population is rather low. In September, excess mortality had already increased by 12% compared with the years 2016-2019. To date, Southern European …