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Poland will transport 6 to 8 billion cubic meters of American liquefied natural gas (LNG) per year to Ukraine in a deal that will help reduce Ukraine’s dependence on Russian gas. The deal should begin delivering the required natural gas in two to three years but much depends on the …

Fitch Ratings has trimmed its natural gas price forecasts both for the U.S. and European benchmarks on the back of “very large” market oversupply, Kallanish Energy reports. “Current prices in Europe and Asia rarely cover the half-cycle cash costs – that include variable operating costs and transport to Europe – …

British oil major Shell joined other companies in the sector in lowering capital expenditure for the current year by about $5 billion and suspended the next tranche of its share buyback plan to weather a hit from the recent oil price crash. The company said it would reduce 2020 cash …

Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand. Wood Mackenzie senior consultant Lei Sun said: “Major crude oil importers such as China have been known to build their strategic …

The coronavirus crisis and an unseasonably mild winter in Europe have combined to help Germany reach its 2020 climate target, Agora Energiewende said. Mild temperatures accompanied by strong winter storms have led to rising production levels from wind power farms amid a lower energy consumption for heating, the Berlin-based think-tank …

Saudi Aramco’s reliable production and supply of energy is the cornerstone of the company, Amin Nasser, president and chief executive officer, said in a statement. “At all our sites, we have in place on-going, active prevention programs as well as detailed contingency plans and leading medical support services to minimize …

French oil major Total will freeze recruitment, boost costs savings and halt its share buyback programme due to tumbling oil prices, chief executive Patrick Pouyanne told staff in a video message on Thursday, according to a union official. The group is the latest oil and gas producer to slash investment …

OPEC Secretary General Mohammad Barkindo held telephone talks with the Texas Railroad Commission late on Friday, March 20, a source in the secretariat told TASS, adding that the sides agreed to continue consultations. Later the commissioner Ryan Sitton confirmed the information via Twitter. “A telephone conference with US colleagues just …

A growing number of oil and gas companies are trumpeting plans to cut their greenhouse-gas emissions amid mounting pressure from investors, policymakers, and a public concerned about climate change—or the financial risks it poses to the sector. In the latest move, BP announced its “ambition” on Wednesday to eliminate emissions …

Immense damage to its revenue streams by the raging COVID-19 pandemic and an ill-timed oil price war has forced Saudi Arabia to unleash a massive emergency stimulus package worth $32 billion to succor its slowing economy. Saudi Arabia has 344 confirmed COVID-19 cases as of Saturday but no deaths. The …