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The annual crude oil output of China’s Bohai Sea oil field reached 30.132 million tons in 2021, accounting for one seventh of the nation’s overall annual crude oil output and becoming the country’s largest oil field, the Xinhua News Agency reported on Sunday. The Bohai Sea oil field is operated …

The Chinese customs department revealed that Iraq’s oil export to China had dropped in December 2021. The department’s statist showed that Iraq’s oil export decreased by 49,6% reaching 3.826 million barrels. However, the exports were up by 79.7% from the same month last year (2.130 million barrels). Iraqi oil export …

OPEC and its allies will meet on Sunday, the latest sign that a standoff between Saudi Arabia and the United Arab Emirates has been resolved. Oil ministers will meet at noon Vienna time and hold a press conference afterwards, the group confirmed. Officials have said privately in recent days that …

Natural gas demand among European industries has dropped by the most since the early days of the pandemic, with soaring prices prompting widespread output cuts and factory shutdowns. Fourth-quarter industrial gas use in northern Europe fell by almost 5% from a year earlier, the biggest decline since the second quarter …

Russia will become one of the world’s three largest producers of liquefied natural gas (LNG) in terms of output in five to eight years, a senior consultant with Russian independent energy advisor VYGON Consulting, Ekaterina Kolbikova, has told Sputnik. “In [a period from] 2027-2030, Russia will become one of the …

Equinor has discovered oil in the Toppand prospect in the Troll/Fram area of the Norwegian North Sea. The semisubmersible West Hercules drilled wells 35/10-7 S and 35/10-7 A 8 km (5 mi) west of the Fram field in 354 m (1,161 ft) water depth. Well 35/10-7 S encountered 75-m (246-ft) …

If you’ve unlocked some recent International Energy Agency (IEA) data for a few thousand dollars, it could be the last time you are required to do so. The IEA is suggesting that it could make all its data and analyses free and available to all, Quantum Commodity Intelligence reported on …

Global oil prices continued to gain ground above $80 per barrel on Friday, helped by a growing consensus that demand remained surprisingly resilient to the current Omicron-led wave of COVID-19 cases which spooked markets in late 2021. Brent crude futures, which traded close to $83 per barrel earlier on Friday, …

ExxonMobil announced that it has made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well, which was drilled in 6,030 feet of water, is said to have encountered approximately 164 feet of high-quality oil-bearing sandstone reservoirs. Lau Lau-1, which was drilled in …

The United States became the world’s largest exporter of liquefied natural gas in December as deliveries of the superchilled fuel to energy-starved Europe surged. According to Bloomberg calculations, the U.S. dethroned Qatar as the top LNG exporter in the world after a substantial jump in LNG production from Cheniere Energy’s …