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Norwegian energy giant Equinor has decided to reduce its exploration staff by 30 per cent as the Covid-19 pandemic reduces oil demand. In a statement sent to Offshore Energy, a spokesperson for Equinor said the planned reduction in positions in Equinor’s exploration organisation is around 30 per cent and it …

Iranian researchers at Amirkabir University of Technology produced gasoline and petrochemical products with natural gas through a clever and low-cost method. “The use of oil in production of catalysts is highly expensive, and in this project we used natural gas and converted the gas into light olefins by MTO method,” …

Oil prices gained on Tuesday due to fears that refineries could be hit by a storm brewing in the Gulf of Mexico, while buyers also drew relief from U.S. President Donald Trump’s return to the White House after being treated for COVID-19 in hospital. The gains slightly extended Monday’s rally …

Libya’s oil output has risen to 295,000 barrels following a truce in the OPEC nation’s civil war and the lifting of a blockade on energy facilities. Fields that feed the newly restarted eastern ports of Hariga, Brega and Zueitina are ramping up production, according to a person with knowledge of …

The U.S. Energy Information Administration’s (EIA) Natural Gas Annual shows that the United States set new records in natural gas production, consumption, and gross exports in 2019. In 2019, dry natural gas production increased by 10 per cent, reaching a record-high average of 93.1 billion cubic feet per day (Bcf/d). …

The Covid-19 pandemic has led to the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year, the International Energy Agency says in a new report. “The unparalleled decline is staggering in both its scale and swiftness, with serious potential implications …

Iranian Energy Minister announced on Sunday that the country plans to increase its nuclear power capacity from its current 1,000 megawatts to 3,000 MW in future. In this regard, the construction of two new 1,000-megawatt-nuclear power plants is underway in Bushehr, Reza Ardakanian said. The minister lamented that lack of …

Saudi Arabia’s Finance Ministry sees oil prices at around $50 a barrel for the next three years, according to Goldman Sachs Group Inc.’s analysis of the kingdom’s pre-budget statement. “Using our own estimates for the breakdown of government revenues, we calculate that the numbers presented in the budget statement are …

US oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants. Canadian Prime Minister Justin Trudeau’s government intends to present its Clean Fuel Standard this year, aiming to cut 30 million tons of emissions by …

Oil prices rose on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive coronavirus test sparked widespread alarm. Brent was up $1.20, or 3.1%, to $40.47 a barrel by 0925 …