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Soaring prices of liquefied natural gas (LNG) and coal on the international markets have left Pakistan, the world’s fifth-most populous nation, with having to cut electricity supply to households and industry as the country in a deep political and economic crisis cannot afford to buy more of the expensive fossil …

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed this weekend their countries’ cooperation in the OPEC+ oil production pact in their second telephone call since Russia’s invasion of Ukraine. Russia is a key partner to OPEC’s largest producer and de facto leader, Saudi Arabia, in the …

Arab economies are expected to grow by 5% in 2022, supported by the increase in oil production and its prices in international markets and the continuation of stimulus packages to support economic recovery, said the Arab Monetary Fund (AMF) in a new report. In 2023, the growth of Arab countries …

The price of some Middle Eastern oil has climbed after buyers snapped up cheap cargoes as calm returned to Asia’s physical market. The spot differential for cargoes of Abu Dhabi’s Murban crude scheduled to be loaded in June increased more than $1 a barrel in less than a week, according …

Europe’s biggest solar power plant, the under-construction Karapinar plant in Konya in south-central Turkey, is poised to be fully operational by the end of 2022, Cemal Kalyoncu, the chairman of Kalyon Holding, the company responsible for the project, said on Monday. The current installed capacity of the power plant is …

Chinese LNG imports in March were 4.63mn metric tons, down 17% year/year, customs department data published on April 18 showed. The pipeline gas imports in March were 3.36mn mt, up 8.8% yr/yr. The cumulative LNG imports in the first three months of 2022 were 17.28mn mt, down 11.2% yr/yr. China’s …

The U.S. Energy Information Administration (EIA) lowered its 2022 Brent spot average price forecast in its April Short Term Energy Outlook (STEO) report, which was released recently. According to the latest STEO, the EIA now sees Brent spot prices averaging $103.37 per barrel this year, which marks a near $2 …

The U.S. government, under pressure to lower gas prices, announced on April 15 that it will resume the sale of leases for oil and gas drilling on federal lands while imposing new conditions, including the first hike in royalties in more than 100 years. Shortly after coming to office in …

Oil prices rose on Monday as concerns grew about tighter global supply, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia. Brent futures were up US$1.50, or 1.3 per cent, at US$113.20 a barrel at 12.30am GMT, and US West …

Iraq’s Prime Minister Mustafa al-Kadhimi has assigned a working group to make necessary coordination to resolve technical problems of Iraqi power plants that work with Iranian gas. Khadhimi headed a meeting of high ranking Iraqi officials on energy and was briefed on the potential situation of Iraq’s electricity in the …