Turkey has signed a key liquefied natural gas purchase agreement with Oman for 1.4 billion cubic metres of annual gas imports for 10 years.
An oil spill from a trunkline near the city of Omsk in East Siberia has been contained and cleaned-up successfully, three days after the leak was discovered on 27 January, according to Russian state run oil pipeline operator Transneft’s regional subsidiary.
Oil majors are rounding up the 2022 financial year with outstanding profit numbers, a development that faces strong backlash from the Biden Administration.
For the first time in decades, China’s oil and gas demand declined in 2022 as the strict Covid policies curtailed economic growth and mobility. This year, demand is set to rebound thanks to the reopening of the Chinese economy, pushing global oil demand higher and giving Europe a run for its money to stock up on LNG. The pace of recovery in Chinese oil and gas demand will be one of the most important trends influencing oil and gas markets and prices in 2023.
UK oil giant BP has started drilling two new exploration wells to search for gas deep beneath the Caspian Sea.
Given that Libya has exhibited all the stability of a puff adder on benzedrine since the West removed its longstanding leader, Muammar Gaddafi, in 2011, it is little wonder that it has found attracting foreign investment into its flashpoint oil and gas sector a tad tricky since then.
Oil prices fell on Tuesday as the threat of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China.
Oil giant BP released a report Monday predicting that the world would sharply reduce its reliance on the company’s signature product, oil and gas, over the next 25 years as countries hasten their transition to renewable sources of energy so as to combat climate change.
Texas produced 11.2 Tcf of natural gas last year, a new record, according to the Texas Independent Producers and Royalty Owners Association (TIPRO).
The oil ministry has accepted the key
recommendations of the Kirit Parikh committee on domestic natural gas pricing and begun consultations with other ministries before it sends a proposal to the Cabinet.