Tag Archives: Oil Price

Turkish energy firms will explore for oil and gas offshore Pakistan under agreements with local companies, Turkish Foreign Minister Hakan Fidan said during a visit to Pakistan on Wednesday. “This is one of the outcomes of the more institutionalized approach we are working to establish,” Fidan said, without elaborating on …

Saudi Basic Industries Corp (SABIC) is considering listing National Industrial Gases Company (GAS) as part of a review into the strategic options for its unit, the Saudi chemicals giant said on Wednesday. The study and evaluation of certain strategic options concerning the National Industrial Gases Company is in line with …

China is not buying LNG on the spot market despite a seasonal increase in demand for electricity for air-conditioning, Bloomberg has reported, noting traders had been hoping for a price jump in spot LNG. It seems, however, from China’s perspective, spot LNG is already quite expensive. “We expect that China’s …

Iraq’s Dhi Qar Oil Company has raised oil production by a combined 80,000 barrels per day across three strategic southern fields, Nasiriyah, Gharraf, and Saba, IraqiNews reported on Monday, marking one of the country’s most significant boosts this year as OPEC+ opens the door to higher member output. According to …

Under pressure to increase payouts to Saudi Arabia, the Kingdom’s state oil giant Aramco is considering selling up to five gas-fired power plants in deals that could raise some $4 billion, sources familiar with the plans told Reuters on Friday. Aramco has seen profits – and payouts to the Kingdom …

The UK government is launching its first onshore wind strategy, aiming to deliver up to 29 gigawatts (GW) of onshore wind power by the end of the decade. In the newly minted Onshore Wind Taskforce Strategy, the UK has set out more than 40 steps government and industry will take …

Germany is increasingly indicating openness to nuclear energy, marking a complete pivot from their historic stance on the controversial energy source. Germany’s shift in attitude toward nuclear energy comes as part of a larger global movement back toward nuclear power as a viable part of a secure and low-carbon energy …

Europe has accelerated its purchases of liquefied natural gas to refill its storage caverns for the winter, and once again, this has driven prices higher, sapping demand in Asia. This could turn into a seasonal pattern until new LNG capacity comes online—and it will definitely add to Europe’s energy cost …

Ongoing geopolitical conflicts, including one active war, combined with market instability, declining steel demand in certain global regions and a rise in protective tariffs on exporting nations, have all come together to force some steel-producing countries, including China, to reassess and refocus their steel industry supply chains. Faced with weak …

Global crude oil production declined by 1% last year, for the first time since 2020, averaging 72.58 million barrels daily, OPEC said in the latest edition of its Annual Statistical Bulletin. The group reported a decline in OPEC and partner production while non-OPEC oil producers boosted output last year, in …