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Gazprom Neft succeeded in cutting energy, heating and fuel costs across its directly owned refineries (in Moscow and Omsk) throughout 2020, with energy-saving initiatives delivering savings of RUB 400 million ($5.4 million). Gazprom Neft’s Moscow and Omsk refineries implemented a total 40 energy-saving initiatives in 2020. The Moscow Refinery has …

Qatar Petroleum, the world’s top liquefied natural gas (LNG) producer, is cranking up the pressure on high-cost rivals with bold expansion plans that will boost supplies over the coming decade and potentially push prices down further. As competitors struggle to break even due to lower prices, the Qatari firm last …

The U.K.’s oil and gas industry faces a struggle to recover from an investment slump sparked by the coronavirus and in the longer term will have to manage a prolonged decline in output, according to its trade body. Production may decline further this year and next, following a 5% decrease …

If prices for the commodity average $65 a barrel and all else is equal, borrowing needs for the six countries comprising the council would drop 96% from what they’d be if oil traded at $45, an economist writes The Gulf Cooperation Council’s borrowing requirements could drop to $10 billion over …

Northwest China’s Xinjiang Uygur Autonomous Region is taking the lead in China’s renewable energy push, with new energy installed capacity reaching a record high of 35.83 million kWh of electricity, supporting the country’s carbon neutrality goal. The total sum of solar and wind capacity has climbed by 135 percent from …

Kazakhstan took another step toward strengthening its energy security this week after Eni, an Italian multinational oil and gas company, launched the construction of a new solar farm in Otrar, Turkestan, Kazakhstan’s southern region. The project to construct the 50 MW photovoltaic plant is being implemented by a joint Italian-Kazakh …

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al Saud signed, on March 11, a memorandum of understanding (MoU) with Germany to produce hydrogen. On the sidelines of signing the memorandum, the Saudi Minister said that the Kingdom will secure a leading position in the production of hydrogen since …

A major green hydrogen facility in Germany has started operations, with those behind the project hoping it will help to decarbonize the energy-intensive steel industry in the years ahead. The “WindH2” project involves German steel giant Salzgitter, E.ON subsidiary Avacon and Linde, a firm specializing in engineering and industrial gases. …

The Organization of the Petroleum Exporting Countries (OPEC), in its Monthly Oil Market Report (MOMR) for Feb-2021, recently released, showed that oil demand has continued to recover from the Q2-2020 slump, climbing to 92.1mb/d and 94.0mb/d in Q3-2020 and Q4-2020, respectively from 82.8mb/d in Q2-2020. The forecast is said to …

Iraq ranked second in the list of OPEC countries that rose their oil production in February, OPEC report said today, Saturday. The organization stated in its monthly report, “the production of the 13 member states of the Organization of Petroleum Exporting Countries” OPEC “decreased last February, reaching an average of …