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US energy giant ExxonMobil has made a final investment decision on a multi-billion-dollar chemical complex in Guangdong province in southern China. The greenfield project includes a 1.6m tonne/year flexible feed steam cracker, three performance polyethylene (PE) lines, and two differentiated performance polypropylene (PP) lines, ExxonMobil said late on Monday. Construction …

Saudi Arabia’s economy grew at its fastest pace in nearly a decade in the third quarter, boosted by higher oil prices, according to preliminary estimates from the government. Gross domestic product expanded by 6.8% compared to the same quarter of 2020, the General Authority for Statistics said Tuesday, its fastest …

Europe could have a way out of a natural gas shortage if the winter is colder than usual. The very tight European gas market may find relief from the supply crunch if it taps part of the so-called cushion gas, which keeps supply pressure at storage facilities, energy consultancy Wood …

The energy supply crisis has been aggravated by one of three major Russia-Europe supply pipelines changing the direction of its gas flow. Flows in the Yamal-Europe pipeline between Russia and Germany are moving eastbound for the third day running, according to Gascade’s data. This is the second time gas supplies …

OPEC+ needs to be careful in implementing its policy because it needs to balance the market amid forecasts of softening demand in the first quarter of 2022, the UAE’s energy minister said on Nov. 8. “We are seeing in the first quarter [of 2022]…a surplus in the balance due to …

Current oil prices at around $80 per barrel adequately reflect the situation on the market, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 in an interview after the OPEC+ meeting, Oilprice anaylsed. There are a number of both bullish and bearish factors that will determine where prices will go in …

China is expected to lead Asia’s LNG regasification capacity additions, contributing 36% of the total LNG regasification capacity additions between 2021 and 2025, forecasts GlobalData, a leading data and analytics company. GlobalData’s report, ‘Asia Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2021–2025 –China Dominates LNG Regasification Capacity Additions …

QatarEnergy has placed the first batch of LNG shipbuilding orders with Korean shipyards consisting of four vessels from Daewoo Shipbuilding & Marine Engineering (DSME) and two vessels from Samsung Heavy Industries (SHI). The orders came in the form of QatarEnergy’s declaration of its ship construction options with the two Korean …

Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer, Aramco, raised the official selling price for its crude, suggesting demand remains strong amid tighter supplies. Brent crude was up by 90c, or 1.1%, at $83.64 a barrel, after dropping nearly 2% last week. US oil gained 87c or …

The number of geothermal power plants in Japan has quadrupled since the 2011 nuclear disaster in Fukushima, northeastern Japan, according to industry data. Despite the surge, showed in the Thermal and Nuclear Power Engineering Society data, geothermal power accounts for only 0.3 percent of the country’s total power output because …