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After becoming the world’s largest importer of liquefied natural gas, China is now looking to become a factor in global LNG trade, analysts tell Reuters. China was the single biggest contributor to the rise in global LNG demand in 2021, after a lackluster 2020, due to the pandemic slump in …

Oil prices rose for an eighth straight week amid growing concerns about supply disruptions as a result of intensifying geopolitical tensions in eastern Europe and a rise in demand. Brent, the global benchmark for two thirds of the world’s oil, jumped 3.31 per cent to trade at $94.44 per barrel …

Iranian Oil Minister’s Deputy for Planning said that Parsian Energy Intensive Industrial Special Economic Zone (PEISEZ) is a new hub of oil and gas in Iran and that the ministry assures investors feeding the zone. An advantage of the PEISEZ is that it is close to the oil and gas …

The European Union and the UK have seen their dependence on natural gas imports jump to 80 percent in 2020 from 65 percent in 2010, as regional production plunged, the U.S. Energy Information Administration (EIA) said on Friday. The high dependence on gas imports and the low levels of gas …

A report released by Organization of the Petroleum Exporting Countries (OPEC) indicates that Iran’s oil production in January experienced 21,000 barrels per day increase, reaching the highest production level comparing last three years. Despite continued economic sanctions on the Islamic Republic, its crude oil production reached more than 2.5 million …

Wall Street stocks tumbled and oil prices surged as White House warnings of a possibly imminent Russian invasion of Ukraine reverberated through financial markets. Markets lurched on Friday during a briefing by US National Security Advisor Jake Sullivan, who said a Russian invasion could “begin at any time,” including during …

Through its affiliate TotalEnergies E&P USA Inc., TotalEnergies has announced its decision not to sanction, and to withdraw from, the North Platte deepwater project in the U.S. Gulf of Mexico. The decision not to continue with the project was taken “as the company has better opportunities of allocation of its …

Crude oil supply by non-OPEC countries will grow by 3 mln barrels daily in 2022, the Organization of Petroleum Exporting Countries (OPEC) says in its February report. OPEC at the same time lowered the estimate in increase of supplies from 0.7 mln barrels a day to 0.6 mln barrels daily …

The Permian has led U.S. shale production growth in recent months and will continue to do so in the coming months, but the oil price rally so far in 2022 has also driven increased drilling activity in other shale basins with higher breakeven prices. $90 oil is incentivizing more drilling …

The European Commission on Thursday raised its inflation expectations for this year, but is still expecting prices to move below the European Central Bank’s target of 2% in 2023. The Brussels-based institution said inflation will hit 3.5% this year from a November forecast of 2.2%. The debate over inflation in …