Doha, Qatar -- Qatar's general Producer Price Index (PPI) for the industrial sector for February recorded 114.01 points, showing stability compared to January, but reflecting a decrease of 0.33 percent compared to the same month in 2024. The PPI for the industrial sector is composed of four main sectors: mining...

Doha, Qatar - Qatar has agreed to supply three million tonnes of gas a year to China in a deal with London-headquartered energy giant Shell, the emirate's state energy company said on Monday.The liquefied natural gas deliveries would begin in January as part of a "new long-term sale and purchase...

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies, with a total investment cost of US$ 406 billion between January 2003 and May 2024.The Arab Investment and Export Credit Guarantee Corporation (Dhaman) stated in its first sectoral report on...

Baghdad, Iraq -- Iraq signed an agreement with British energy giant British Petroleum on Thursday to develop four oil and gas fields in the northern province of Kirkuk.A memorandum of understanding was signed by Iraq's Oil Minister Hayan Abdel Ghani and BP's CEO Murray Auchincloss, Prime Minister Mohamed Shia al-Sudani's media office...

Dubai, United Arab Emirates -- Energy majors TotalEnergies, Shell and BP will each take a 10 percent stake in a liquefied natural gas project in the United Arab Emirates, state energy giant ADNOC said Wednesday.Japanese trading company Mitsui & Co. will also acquire 10 percent of the Ruwais LNG plant, scheduled...

In recent years the downstream industry, which includes refineries that process crude oil into gasoline, has increasingly relied on so-called digital twins -- computer-modeled replicas of actual facilities. They allow companies to run simulations to assess operational issues in real-life facilities, mitigate potential hazards and do predictive maintenance (PdM).

Qatar will supply four million tons of gas a year under the deal, QatarEnergy said in a statement, without disclosing the cost of the agreement. "We look forward to further enhancing our relationship with CPC... and to further demonstrate our unwavering commitment to our customers and partners around the world," said...

Energy Minister Saad al-Kaabi, who is also chief executive of QatarEnergy, said the state-owned giant had secured sales of 25 million tons of liquified natural gas (LNG) in the past year and expected to be "signing more this year."

Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad, strengthening the Iraqi economy.

It did not disclose the cost of the agreement.

The China State Shipbuilding Corporation (CSSC) is set to deliver eight Liquified Natural Gas (LNG) vessels in 2028 and 2029, and the others in 2030 and 2031, the energy company said. The LNG carriers will be built at China's Hudong-Zhonghua shipyard and measure 271,000 cubic meters each.

According to the IEA, oil demand growth in Q1 2024 was lower than expected at 1.6 mln bpd, and the smallest since Q1 2023, due to unusually warm weather at the end of winter, which led to a greater decline in heating fuel consumption in OECD countries.

Tehran, Iran -- The National Iranian Oil Company (NIOC) has said that shale oil deposits have been discovered in 10 different locations across the country.The director of exploration at the NIOC, Mehdi Fakour, announced that the company's specially designed model will enable the extraction of oil from these resources.Fakour stated...

Dhahran, Saudi Arabia – Saudi energy giant Aramco Tuesday awarded engineering, procurement and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia. The project is expected to increase the plant’s processing capacity from 2.5 to up to 4...

Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of understanding between Turkiye and Turkmenistan, focusing on collaboration in the natural gas sector and hydrocarbon partnerships.Under the agreement, the initial phase will involve the transportation of up to two billion...

Its net profit spiked to US$3.7 billion in 2023.

Islamabad, Pakistan - Pakistan reached a tentative deal to unlock a $1.1 billion tranche of an International Monetary Fund (IMF) bailout deal, the global lender said Wednesday, giving much-needed respite to the South Asian nation.Last summer, cash-strapped Pakistan sketched a $3 billion deal with the IMF as it battled a balance-of-payments...

An A grade would be potentially aligned with the goals of the 2015 Paris Agreement to limit temperature rise to "well below" 2C and if possible the safer curb of 1.5C. An H grade, according to Carbon Tracker, is the furthest from the Paris goal, with activities and strategy more...

Methane emissions from the fossil fuel industry have risen for three consecutive years, according to the International Energy Agency (IEA), hitting near record highs in 2023.

ADNOC will supply 1 million mtpa of LNG to SEFE Singapore.

Cairo, Egypt -- The European Union, which is seeking to stem the inflow of irregular migrants, announced Sunday a 7.4 billion euro ($8 billion) package of loans, grants and energy cooperation deals with cash-strapped Egypt.It will include billions in loans over coming years and aims to step up Egyptian energy imports...

This brings the total dividend for 2023 to $717 million.

"A diplomatic solution is the only way to end the current hostilities" and achieve "a lasting fair security arrangement between Lebanon and Israel", Washington's envoy Amos Hochstein told reporters in Beirut, adding that "a temporary ceasefire is not enough". "A limited war is not containable," he said after meeting with parliamentary...

An energy ministry source said Riyadh "will extend its voluntary cut of one million barrels per day, which was implemented in July 2023, until the end of the second quarter of 2024," the official Saudi Press Agency reported. "Afterwards, in order to support market stability, these additional cut volumes will...

Algiers, Algeria -- Sonatrach, the state-owned energy company of Algeria, will allocate $8.8 billion investment in 2024, which represents 17.6 percent of the total Algerian investment portfolio of $50 billion for the next four years (2024-28).The company's CEO, Rachid Hachichi, told QNA that majority of the allocated funds (71 percent)...

Doha, Qatar - Qatar is "hopeful" of a Gaza war ceasefire and is pushing for an agreement before Ramadan, its foreign ministry spokesperson said on Tuesday.The gas-rich Gulf state, which hosts Hamas's political bureau, has been a key mediator in negotiations involving the Palestinian fighters, Israel, the United States and Egypt."We...

Tehran, Iran -- In a significant step towards enhancing energy cooperation between Pakistan and Iran, Islamabad has given the green signal for advancing much-delayed work on gas pipelines within its territory.This marked considerable progress in the Pak-Iran gas pipeline project, Mehr News Agency reported.The approval comes as Pakistan has scrambled...

BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock oilfield in the Bohai Sea.According to China Central Television, the Bohai 26-6 oilfield, situated approximately 170 kilometers from Tianjin Municipality, has recently confirmed an unprecedented volume of oil and gas...

At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years to India's Petronet, with the first deliveries expected from May 2028. QatarEnergy in January announced a deal with US-based Excelerate Energy to supply Bangladesh with 1.5 million tonnes of LNG...

Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion standard cubic feet of gas have been proven at Saudi state oil company Aramco's Jafurah field, in addition to 2 billion barrels of condensates.Reserves at Jafurah had reached 229 trillion...

LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost three years as mild winter weather continues and European stockpiles hold up.Mid-morning on Friday, the benchmark Dutch TTF futures contract was down 3.2 percent at US$24.3 (22.45 euros) a megawatt-hour...

Doha, Qatar -- Qatar's Industrial Production index (IPI) in December 2023 reached 95.3 points, an increase of 3.9 percent compared to the previous month (November 2023), and decreased by 4.2 percent, when compared to the corresponding month in 2022.The Planning and Statistics Authority (PSA) has issued the press release of...

The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to Israel, in solidarity with the Palestinians in Gaza. In December the United States announced a maritime security initiative, Operation Prosperity Guardian, to protect shipping in the area.

Doha, Qatar -- UCC Holding, a Qatari company, has signed two energy contracts for seven projects in Kazakhstan.The first contract with QazaqGas comprises two gas treatment plants:1 BCMA Gas Processing Plant Project and 2.5 BCMA and the construction of a New Compressor Station CS-14 and Main Gas Pipeline CS-14 -...

"Demand for natural gas has already peaked in some regions but continues to rise globally, with LNG demand expected to reach around 625-685 million tons a year in 2040, according to the latest industry estimates," Shell said in a report.

The JV is expected to be completed in the second half of 2024.

The saboteurs hit pipelines in the cities of Borujen in the southwestern province of Chaharmahal and Bakhtiari, and Safashahr in the southern province of Fars, Aghli said, adding that there were no casualties in the explosions or the ensuing fires.

Despite the last COP in the United Arab Emirates ending with an unprecedented call to "transition" away from fossil fuels, an analysis by the NGO Global Witness based on data from Rystad Energy shows that the upcoming COP29 host aims to hike its gas production from 35 billion cubic meters...

London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas projects, but still ran into fierce criticism from campaigners who said the moves don't far enough.As part of its updated climate strategy, the bank added it would scale back lending...

Strasbourg, France - The EU on Tuesday urged a 90-percent cut to its greenhouse gas emissions by 2040, even as the bloc's transition to a greener future was clouded by a widespread farmers' revolt."Based on the best available science, and a detailed impact assessment, we are recommending that the 2040 target should...

QatarEnergy will supply 7.5m tons of LNG per year to Petronet.

Its revenue dived almost a fifth percent to US$316.6 billion.

Palestinian Territories - Even the dead are not spared by the Hamas-Israel war raging in Gaza, with bodies dug up by Israeli troops and hurried burials happening in hospitals and even a school.In Gaza City's Al-Tuffah district, shrouded corpses of Palestinians torn from their graves lay atop muddied earth.Israel's military...

Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 18.7 billion ($5.13 billion), a decrease of about QR 9.5 billion, or 33.7 percent, compared to December 2022.The trade balance showed an increase by nearly QR 2.0 billion, or...

The state-owned giant confirmed in a statement that "Qatar's LNG production continues uninterrupted, and our commitment to ensuring the reliable supply of LNG to our customers remains unwavering". "While the ongoing developments in the Red Sea area may impact the scheduling of some deliveries as they take alternative routes, LNG...

Aim is to expand Dragon Oil’s investments in Turkmenistan.

Interior Minister Ali Yerlikaya said, "We will never allow espionage activities to be conducted against the national unity and solidarity of our country."

Founded in 1960, the 13-member OPEC cartel in 2016 partnered up with 10 other producers to form OPEC+ to gain more clout. But the group's enlargement has proven to be "a double-edged sword", noted Ozkardeskaya, with decision-making becoming more difficult.

This is the company's second successful well in the Andaman area.