Tag Archives: Platts

Japan intends to explore 1.4 Tcf of estimated recoverable natural gas reserves offshore Shimane and Yamaguchi prefectures in the west that could produce 46.7 Bcf/year of gas after starting output in 2032, an official at the Ministry of Economy, Trade and Industry told S&P Global Platts Jan. 17. The move …

Russia’s largest crude producer Rosneft announced Dec. 21 its commitment to achieve carbon neutrality by 2050, bringing forward some of its previous targets to reduce emissions. The company’s 2035 climate targets set a year ago already included the prevention of 20 million mt CO2 equivalent of greenhouse gas emissions, reduction …

China National Offshore Oil Corp will supply carbon neutral LNG for the first time to Hong Kong, the state-owned oil and gas major said on its social media account late Dec. 20. CNOOC said it received a 65,000 mt carbon neutral LNG cargo on board the vessel “Magnolia” at the …

Qatar has based its 2022 fiscal budget on an average oil price estimate of $55/b, up from $40/b in 2021, thanks to the improvement in international energy prices, the country’s finance minister said Dec. 7. “The remarkable recovery in global energy prices, which still reflects the continued adoption of conservative …

The UAE’s clean energy firm Masdar and France’s Engie plan to invest $5 billion to develop 2 GW of renewable and hydrogen projects by 2030 as OPEC’s third biggest producer seeks to implement its net zero emissions pledge by 2050. The agreement between Masdar and Engie was signed during French …

Iraq does not have any expectations about the outcome of the Dec. 2 meeting of OPEC+ ministers, the country’s oil minister told the state-run Iraqi News Agency, as the 23-member coalition is set to assess the impact of the oil price crash on Nov. 26, a new COVID variant and …

South Korea aims to start commercializing ammonia-fueled power generation from 2030 in a bid to reduce its heavy reliance on coal and LNG in electricity production, the energy ministry said Nov. 17. Under the government initiative, state-run power monopoly of Korea Electric Power Corp., its electricity generating units, a state …

Iraq will start developing the Akkas gas field in an initial stage to pave the way to attract foreign investments, the oil ministry said Nov. 13, as OPEC’s second biggest producer seeks to boost its gas output. State-run Iraqi National Oil Co. discussed during a meeting plans to nationally operate …

Rosneft CEO Igor Sechin warned Nov. 12 of a potential super-cycle in oil and gas markets amid fears of a continued rapid growth in demand outpacing supplies. The warning comes as pressure mounts on the need to ease surging energy prices, with oil hovering near three-year highs and volatility in …

OPEC+ needs to be careful in implementing its policy because it needs to balance the market amid forecasts of softening demand in the first quarter of 2022, the UAE’s energy minister said on Nov. 8. “We are seeing in the first quarter [of 2022]…a surplus in the balance due to …