Iraq is going full throttle in its oil and gas development and has awarded a project to a Chinese firm to build its largest crude oil depot for export with a capacity of around 3.2 million barrels, Zawya reported, citing Iraqi officials
Cairn Oil & Gas, a subsidiary of Vedanta Resources owned by billionaire Anil Agarwal, has announced that its reserves and resources portfolio in India has surpassed 1 billion barrels of oil equivalent (boe), media reports suggested.
Shell has awarded Worley an enterprise framework agreement (EFA) to support Shell’s projects worldwide.
The last week or so has seen a flurry of major cooperation agreements – including in energy, security, and logistics – between various permutations of Iran, Iraq, Russia, and China.
With more than 35 oil discoveries since 2015 the impoverished South American microstate of Guyana has emerged as the world’s hottest frontier drilling location.
As the green energy push gathers speed, propelling the shift to renewable energy sources forward, this raises concerns about oil and gas projects being in danger of turning into stranded assets while the world hurtles towards net-zero.
With a significant level of investment in renewable energy globally, it’s about time that oil stepped aside to let sustainability take shape worldwide
The upheaval in oil and gas markets started by Russia’s war in Ukraine is helping fuel a clean-energy boom as countries scramble to secure their power supply.
The recent assurance from Russian Deputy Prime Minister and key OPEC+ negotiator Alexander Novak – that he does not expect the group to take any new decisions at their next meeting scheduled for 4 June – should not assure anyone.
Days ahead of the key OPEC+ meeting on June 4, the leading producers in the group, Saudi Arabia and Russia, are at odds about output policy.