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The Abu Dhabi National Oil Company (ADNOC) announced today the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni, indicate between 1.5 – 2 trillion standard cubic feet (TSCF) …

The U.S. and its European allies have approached several major natural-gas importers in Asia, including China, about sending their fuel to Europe if a conflict over Ukraine erupts, according to people familiar with the matter. President Joe Biden’s administration has spoken to officials in Japan, South Korea and India as …

Oil prices eased on Thursday following weak U.S. payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases, Trend reports with reference to Reuters. Brent crude fell 17 cents, or 0.2%, to $89.30 a barrel by 0420 GMT, after …

OPEC+ may decide on Wednesday to announce a larger production increase for March than the usual 400,000 barrels per day, considering the oil price rally to $90 and the potential for renewed discontent from major oil importers at these high price levels, Goldman Sachs said in a Tuesday note. “We …

Energy-rich countries from Qatar to Azerbaijan have all pledged emergency gas supplies to Europe, but the region is quickly figuring out it can’t replace top supplier Russia. Ongoing tensions over Ukraine and the threat of a potential conflict interrupting energy flows to Europe have overshadowed the continent’s gas market in …

Oil prices climbed on Wednesday toward last week’s seven-year highs as a draw in U.S. crude stocks confirmed strong demand and a lack of supply, but investors remained cautious ahead of an OPEC+ meeting later in the day. Brent crude rose 17 cents, or 0.2%, to $89.33 a barrel by …

Global gas markets are painting distinctly different pictures this week as supply uncertainty in Asia supports prices, but European markets are starting to see downside potential on the horizon. Mild weather in Europe and frigid forecasts for the US will drive price behavior in the coming days. Milder temperature forecasts …

OPEC+ will likely stick to existing policies of moderate output increases on Wednesday, February 2, five sources from the producers’ group said even as it expects demand to rise to new peaks this year and as oil prices trade near their highest since 2014. The group, which comprises of the …

Qatar, one of the world’s top natural gas exporters, will not be able to unilaterally replace Europe’s energy needs in case of a shortage due to the crisis between Russia and Ukraine, the emirate’s minister of state for energy said on Tuesday, February 1. “The volume of gas needed by …

Gas flows from Poland to Germany via the Russian Yamal-Europe pipeline resumed on Wednesday morning after it had been switched in a reverse mode in December, data from German network operator Gascade showed. Westbound gas flows were expected to resume after Gazprom booked transit capacity on Tuesday, restoring the normal …