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The Middle East is the historic heartland of the global oil and gas industry. The region holds almost half of the world’s proven hydrocarbon reserves and, in 2020, it produced nearly one-third of the world’s oil. But the world’s energy sector is changing fundamentally and the region’s position at the …

High oil prices are a symptom of economic and monetary imbalances, not just a consequence of Organization of the Petroleum Exporting Countries (OPEC) decisions. Throughout history, we have seen how OPEC cuts have done little to elevate prices when diversification and technology added to rising efficiency. Likewise, OPEC output increases …

Further investments in environment-friendly natural gas are essential to achieve energy equality for all parts of the world in a sustainable manner. This is of particular significance as the global economy moves from under the shadow of the coronavirus pandemic, which has resulted in shortage of gas in Europe and …

China’s Sinopec has developed a steam-cracking technology to convert oil directly into high-demand petrochemical products such as ethylene and propylene, cutting costs and production times as well as significantly reducing carbon emissions. Could this be the low-carbon answer to petrochemical production, as the global need for these products keeps increasing …

Asia is stocking up on liquefied natural gas (LNG) to avoid a repeat of last winter’s crunch when colder than usual temperatures sent 2020/2021 winter spot LNG prices to records. Now prices are even higher, but many Asian buyers are still on the spot market despite the expensive gas in …

Japan is considering tapping into its national oil reserves, the country’s PM has confirmed, after Washington reportedly urged top oil consumers to release their reserves to tackle high crude prices. Speaking to reporters during his visit to the southern Japanese city of Matsuyama on Saturday, Prime Minister Fumio Kishida said …

China’s installed capacity of renewable energy power generation reached 1 billion kilowatts (kWs) by the end of October, accounting for 43.5 percent of the total installation, data from the National Energy Administration (NEA) showed Saturday. The 1 billion-kW threshold doubled the figure at the end of 2015, the NEA said. …

The Managing Director of the National Iranian Oil Company (NIOC) has said his company is seeking new win-win strategies for attracting investment in the country’s oil and gas industry, Shana reported. “When talking about the need to improve contracts and increase the bargaining power and attractiveness of projects, we do …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States decreased to 42 thousand bpd. EIA stated in a report, “The United States oil exports recorded 5.442 bpd in the second week of November.” The top three source countries of U.S. import oil …

Sweet crude grades from the U.S. Gulf Coast have seen increased interest from Asian buyers in recent weeks, as many refiners in the world’s largest oil-importing region are purchasing more of the sweeter crude varieties, energy analytics firm Vortexa says. Asian refiners are looking for more crude of the sweeter …