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The number of total active drilling rigs in the United States rose by 9 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 767 this week—279 rigs higher than the rig count this time in 2021. Oil rigs in the United …

Türkiye has become the primary market for Azerbaijan’s non-oil export, accounting for almost one-third of the oil-rich Caspian country’s non-oil products sold overseas. According to the results of the first five months of 2022, the share of Türkiye in the total non-oil exports of Azerbaijan settled at 32.8 percent, according …

Iran exported non-oil products valued at $2.264 billion to the United Arab Emirates (UAE) in the first four months of the current Iranian calendar year (March 21-July 22), according to the data released by the Islamic Republic of Iran Customs Administration (IRICA). Based on the IRICA data, the UAE was …

German households will have to start paying an energy levy this fall, adding as much as 1,000 euros ($1,020) per year to the cost of living following Russia’s moves to squeeze gas deliveries. Starting in October, utilities will be able to pass along costs for offsetting missing Russian supplies. The …

Russia is boosting natural gas shipments to China as it curbs flows to Europe, a dynamic that may offer some respite from the unprecedented rally in energy costs, according to consultant Accenture Plc. Gas prices in Europe soared after Russia slashed supplies to its biggest market following the invasion of …

African energy giants Algeria, Nigeria and Niger signed a memorandum of understanding Thursday on a vast gas pipeline project offering Europe potential future alternatives to Russian supplies, state media reported. The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres from Nigeria in West …

Shell on Thursday reported a second-quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading. The company also announced a share buyback program of $6 billion for the current quarter, but did not raise its dividend …

As Sri Lanka faces its worst economic crisis in seven decades, an energy catastrophe is looming for the country. Without the rapid formation of a new government that can introduce an interim budget and financial reforms, as well as financial support from neighboring countries, the country could soon run out …

When Gazprom suspended the flow of gas earlier this month via the Nord Stream 1 pipeline, the European Union—and Germany, specifically—braced for a permanent halt in that flow. The deterioration in relations between Brussels, Berlin, and Moscow made such a halt a distinct possibility, but Gazprom restarted the flow of …

As the OPEC+ group prepares to roll back all production cuts by the end of next month, analysts and the market are searching for the answer to the million-dollar question shrouded in mystery: How much more oil can Saudi Arabia actually produce? And how much into spare capacity is the …