Paris, France - The president of a pivotal UN climate summit defended on Saturday the large presence of industry representatives at the negotiations, saying private sector engagement was essential to curb global heating. "Everyone needs to be part of this process and everyone needs to be held responsible and everyone needs...

Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate crisis fuelled in large part by their core products, according to a major new special report from the IEA. The report shows how the industry can take a more responsible...

Paris, France--The International Energy Agency on Thursday called on oil and gas companies to devote half of their investments to clean energy by 2030, urging them to face a "moment of truth" at next week's COP28, the largest UN climate change conference ever held. The IEA urged producers to make the...

Muscat, Oman--Oman LNG has entered into a sale-and-purchase agreement (SPA) with BP to deliver a total of 1 million metric tonnes per annum (MTPA) of LNG to BP. The agreement strengthens the robust relationship between Oman LNG and BP, with which the company has previously signed SPAs to supply reliable...

Cairo, Egypt - European Commission President Ursula von der Leyen on Saturday said she was opposed to the "forced displacement of Palestinians" during a meeting in Cairo with Egyptian President Abdel Fattah al-Sisi. Von der Leyen "thanked Egypt for its key role in providing and facilitating humanitarian aid to vulnerable Palestinians",...

According to a report "Fragile Equilibrium: LNG Trade Dynamics and Market Risks" China has surged ahead of Japan to become the world's largest LNG importer. The US became the top LNG exporter in 2023. The IEF's secretary general said that demand for LNG has grown and continues to "enhance energy...

The company's third-quarter revenue grew by 8% to $5.80 billion.

Due to US sanctions against Iran, Baghdad cannot pay Tehran directly for its gas. Baghdad's unpaid bills to Tehran for past gas imports amount to some $10 billion, according to the senior official.

Germany's Urgewald, along with 50 other NGOs, analyzed the investment plans of 1,623 companies involved in the oil and gas industry - representing 95 percent of global hydrocarbon production. Urgewald estimates that 539 companies -- including Saudi Aramco, QatarEnergy and Russia's Gazprom are preparing to produce an extra 230 billion...

Riyadh, Saudi Arabia — The Public Investment Fund (PIF) has formally announced the signing of a share subscription agreement to infuse capital into Alkhorayef Petroleum, a subsidiary of Alkhorayef Group. Through this agreement, PIF secures a 25 percent shareholding in the oil and gas production optimization solutions provider, with Alkhorayef...

Mystery has surrounded who was behind the blasts that damaged the pipelines, cutting off a major route for Russian gas exports to Europe and fuelling already high tensions over Moscow's invasion of Ukraine. Different theories have emerged pointing the finger at Ukraine, Russia or the United States. All have denied...

The oil giant had posted a net loss of $2.2bn the previous year.

London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as it seeks to quickly boost energy security, but the announcement angered environmentalists. The Conservative government has argued that drilling for new oil and gas is necessary to bolster Britain's energy...

This drop is smaller than the 31 percent fall in Q2.

The drop was due to sharply lower gas prices and offshore wind problems.

"Without policy intervention, direct and indirect emissions from air conditioning and refrigeration are projected to rise 90 percent above 2017 levels by the year 2050," a UN report warned in 2020.

The French energy firm earned a net profit of $6.7 billion.

In June last year Eni agreed a deal with QatarEnergy for a 3.1 percent share in Qatar's North Field East project, the first phase of the Gulf emirate's expansion into the largest gas field on the planet, which extends into Iranian territory. The deal with Eni follows a quick succession...

Last year Shell inked a deal with QatarEnergy for a 9.4% stake in Qatar's North Field South project, the second phase in the expansion of the world's largest gas field, extending under the Gulf into Iranian territory. Later it also agreed to a 6.25% share in the first phase of...

This is the company's biggest takeover since 1990 acquisition of Mobil.

Doha, Qatar - Qatar has agreed to supply France's TotalEnergies with natural gas for 27 years, its state energy company announced on Wednesday. Qatar will supply 3.5 million tonnes of gas a year under the deal, QatarEnergy said, following two agreements with Total last year for a share of the Gulf state's...

Abu Dhabi, UAE-- The Arab Development Establishment (ARDECO) has revealed that it is in talks with several international companies in the oil and gas sector to establish joint ventures boosting Abu Dhabi's industrial base. Yousef Al Nowais, CEO of the Arab Development Establishment (ARDECO), said the joint ventures will help...

They will conduct a study to build a direct air-capture facility.

Abu Dhabi, UAE -- Top executives from South Korean companies have affirmed that numerous firms are actively looking to expand and inject new investments into the UAE's oil and gas sector, noting that the UAE is attracting capital seeking unprecedented growth and prosperity opportunities worldwide. In statements to Emirates News...

Algeria's president has named Rachid Hachichi as new CEO.

WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the Gulf of Mexico, triggering a furious reaction from environmental groups who said the move would accelerate climate change. Biden, who faces re-election next year, has repeatedly broken his promise made...

The deal will be Aramco's first international investment in LNG.

JERUSALEM - Israeli and Lebanese troops exchanged tear gas fire on Saturday on a disputed and highly militarised section of the demarcation line with the Israeli-annexed Golan Heights, the two armies said. The Israeli army said its troops used "riot dispersal means" to turn around a Lebanese earthmover that had...

LONDON, UK- The UK looked set to backtrack on Wednesday on policies aimed at achieving net zero emissions by 2050 with Prime Minister Rishi Sunak expected to water down some of the government's green commitments. The move comes amid growing concern over the potential financial cost of the government's policies to...

Abu Dhabi, UAE - The new UAE sports aims to establish a unified governance framework for all sports organizations and categories in the UAE, fostering collaboration between public and private sectors.  Unveiled by the UAE General Authority of Sports (GAS), the law encourages participation in sports across society, and aims...

Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf Cooperation Council region.

Tehran, Iran - Iran has seized two oil tankers allegedly carrying smuggled fuel in the Gulf and arrested their crews, state television announced on Friday. "The Revolutionary Guards naval forces seized two ships over the course of the last two days," state television said, citing Mohammad-Sharif Shirali, a Guards commander. "The...

Putin first raised the idea of creating "a gas hub in Turkey for supplies to other countries" during talks with President Recep Tayyip Erdogan in the Kazakh capital Astana last October. Erdogan then instructed his government to start immediate preparations for "an international distribution center" in Turkey.

Brussels, Belgium--On Wednesday, Members of European Parliament (MEPs) approved a new law to increase the uptake of sustainable fuels, such as advanced biofuels or hydrogen, in the aviation sector. The RefuelEU aviation rules are part of the “Fit for 55 package”, the EU’s plan to reduce greenhouse gas emissions by...

The IEA's annual World Energy Outlook, due out next month, will show that "the world is on the cusp of a historic turning point," executive director Fatih Birol wrote in the FT.

Dubai, United Arab Emirates - The second pilot of a helicopter that crashed off the coast of the United Arab Emirates has been found dead, authorities said Monday, days after he was declared missing. A first pilot was confirmed dead on Friday after the Bell 212 helicopter went down the night before...

More bad news for the wind energy sector, which is at the heart of the UK's plan to become a net zero carbon emitter by 2050, arrived this week when the government's auction of permits to build offshore wind farms failed due to a lack of takers. Russia's invasion of...

Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and boosting finance for the developing world, according to the UN's first official progress report out Friday. The 2015 Paris treaty has successfully driven climate action, but "much more is needed...

The deal will make it North America's largest natural gas supplier.

Tehran, UAE -- Iran’s oil production capacity has increased 40 percent in two years with the rise in investment in semi-finished oil projects, the country's Minister of Oil Javad Owji said Sunday. He said since the beginning of the administration of President Ebrahim Raisi, in August 2021, increasing investment opportunities...

Cairo, Egypt--The Egyptian government plans to drill 45 natural exploratory gas wells in the Mediterranean and the Nile Delta with $1.9 billion in investments until mid-2025, according to a Cabinet statement on Tuesday. The drilling of 10 wells between July 2022 and June 2023 resulted in the huge discovery in...

The South Pars gas field is one of the world's largest natural gas condensate fields. Iran shares the gas field with energy giant Qatar and there are 24 platforms on the side of the Islamic republic which has been developing it in the Gulf since the 1990s.

Wells were drilled in onshore, offshore operations.

Moscow, Russia -- The volume of Russian gas supplies to Europe through Ukraine is 41.5 million cubic meters per day, a Gazprom spokesman said. "Gazprom continues to supply Russian gas for transit through Ukrainian territory via the Sudzha gas pumping station in an amount approved by Ukraine. The volume is...

The speedy filling of storage facilities means the bloc is "in a much more stable position than it was this time last year," when Russia's invasion of Ukraine sent energy prices soaring, EU Energy commissioner, Kadri Simson, said.

Muscat, Oman-- Oman LNG has signed an agreement with Securing Energy for Europe (SEFE) to supply 400,000 tonnes of liquefied natural gas a year from 2026. According to Oman News Agency, the agreement with the German company is based on a four-year contract. “The term-sheet signing with SEFE marks another...

Abu Dhabi, UAE--EDGE has signed an agreement with Turbomachine to work together on the development of engines, including turbofan and propellant fan, for EDGE portfolio of UAVs and missiles. The agreement will see EDGE and Turbomachine work closely together on the development of engines, including turbofan and propellant fan, for...

Muscat, Oman-- Oman's total domestic production of natural gas shot up 2.3 percent to 26.19 billion cubic meters (CBM) until the end of June 2023, as compared to the same period in 2022, when the total amounted to 25.60 billion cubic meters. Statistics issued by the National Center for Statistics...

The dispute over the field -- known as Arash in Iran and Dorra in Kuwait and Saudi Arabia -- dates back to the 1960s when Iran and Kuwait awarded overlapping offshore concessions. Last year Kuwait and Saudi Arabia signed an agreement to develop the field, despite objections from Iran which...

The decline in revenue is due to lower gas prices.