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Most GCC equity markets ended September in green despite concerns of economic recovery amid threat of second wave of Covid-19 and fall in oil prices, said the Kuwait Financial Centre (Markaz) in its Monthly Markets Review report. The S&P GCC composite index gained 2.5%, with all markets except Abu Dhabi …

Massive spending cuts by the global oil industry and promises to develop alternative energies may leave national oil companies such as Saudi Aramco and Abu Dhabi National Oil Co. filling the hole, if demand is yet to peak. BP surprised investors in August with plans to shrink its oil and …

The coronavirus pandemic has accelerated the oil industry’s move to invest in green energy. French power giant Total became the latest energy company to increase its commitment to renewables at the end of September – to the tune of $3 billion extra (an increase of 50 percent). BP announced back …

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 …

More than 11 million tons of non-oil goods worth over $2.47 billion were exported from Bushehr Province in southern Iran during the past six months of the current Iranian year (starting from March 20), Bushehr Province Department of Industry, Mine and Trade said on Sunday. Hossein Hosseini said that China, …

At the moment, the energy news out of China is a deluge of reports and think pieces about the government’s recently unveiled an extremely ambitious plan to become carbon neutral by 2060 – very big news from the nation that is responsible for a quarter of the world’s total greenhouse …

The coronavirus pandemic that has slammed oil demand and prices is forcing energy majors to tighten their belts on exploration, even if finding new deposits remains essential to their existence. While the sector is increasingly diversifying into greener energies such as wind power, its core business remains oil and gas. …

CEO of Fajr Jam Gas Refining Company Abdolsamad Najafi announced a seven percent rise in gas production of the facility in the first half of the current Iranian year (March 20, 2020-September 21, 2020). “Refining and production of natural gas as the main product of this company has increased by …

Turkey is preparing to deploy a third drill ship as part of its search for hydrocarbons, Energy Minister Fatih Dönmez said in a tweet on Thursday. “The Kanuni period begins in our seas. Kanuni will sail from Taşucu Port on Oct. 10” the Dönmez said, referring to the Kanuni drillship …

The French oil major plans to boost annual investments in renewables and electricity by $1bn, although gas will remain a key source of revenue Fossil fuel giant Total this week became the latest oil major to announce a major pivot towards clean energy, outlining plans to hike investments in renewable …