Turkmenistan is trying to shed its long-standing image as a hermit kingdom, at least when it comes to natural gas exports. Over the past few months, Ashgabat has gone on a deal-making binge that, over the long term, could significantly alter the European Union’s energy-import pattern.
The eight OPEC+ countries that pledged additional voluntary output reductions in 2023 have announced that they will proceed with their plan to gradually roll back the reductions.
Talks on resuming Iraqi oil flows to Turkey once again have ended in deadlock for the second time in a week despite Washington applying pressure to Iraq to resume the exports, Reuters has reported.
Gas Prices Heat Up as Europe Rushes to Refill Storage
McDermott has completed engineering, procurement, construction, installation, and commissioning (EPCIC) activities in the Gulf of Mexico for Shell, enabling oil production at its Whale development, the company said on Thursday.
Equinor and partners Okea and Pandion Energy have discovered gas and condensate in the Mistral Sør exploration well in the Norwegian Sea, Equinor said on Wednesday.
Chinese energy imports broadly fell at the start of 2025, after last year’s record shipments of coal and gas created an overhang of supply and demand for oil continued to ease.
Crude oil imports fell 5 percent on-year in January and February to 83.85 million tons as buyers had to scout for alternative supplies after the US tightened sanctions on Russian and Iranian cargoes.
The UK government is drafting a new tax regime for oil and gas companies to replace a controversial windfall levy after 2030, with an aim to hit companies only when prices are unusually high.
Ecuador’s President Daniel Noboa has ordered a consortium seeking to take over the nation’s top oil asset to pay an entry fee of $1.5 billion by March 11, moving up the deadline by more than three weeks.
Tanzania aims to start a licensing round for dozens of oil and gas exploration blocks in May, the first in more than a decade for the nation with an estimated 57 trillion cubic feet of natural gas reserves.