China has around 80 days of oil in storage, including those in its strategic petroleum reserve (SPR), oil storage at oil firms and commercial stocks, a National Energy Administration (NEA) official said.
China, the world’s biggest importer of crude oil, will complete building the second phase...
Saudi state oil firm Aramco has told Japanese refiner JXTG Nippon Oil & Energy about a possible change in shipment, raising concern about the kingdom’s ability to supply crude oil a week after attacks on its refineries, the Nikkei Asian Review reported.
Aramco did not specify a reason for...
Shell and Exxon are among the companies picked by the Pakistani government to build five LNG import terminals as part of efforts to boost natural gas imports to deal with supply shortages, Oil Price reported.
The terminals could be operational in two to three years, the country’s Oil and Power...
Oil prices were on track to jump more than 7% this week, their biggest weekly rise in months, on rising Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend.
A Saudi-led coalition launched a military operation north of Yemen’s port city of Hodeidah...
Investors managing $15 trillion in assets turned up the heat on the oil and gas sector on Wednesday ahead of a United Nations summit in New York aimed at accelerating efforts to fight climate change.
Energy companies are on the front line of the global transition to a low-carbon economy, with...
Oil prices were little changed Wednesday, steadying after Saudi Arabia said it would restore by the end of the month production lost in weekend attacks on its facilities.
Prices plummeted 6% Tuesday after Saudi Arabia’s energy minister said the country had managed to restore oil supplies to...
The latest attack on Saudi oil installations will push up the war risk insurance, thereby increasing the total cost of deliveries as freight rates also have an upside potential amid likely change in the pattern of trade flows, market participants said Monday.
"An incident of this scale would,...
Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Persian Gulf War in 1991, after an attack on Saudi oil facilities on Saturday shut over 5% of global supply.
But prices came off their peaks after US President Donald Trump authorized the use of...
An innovation by an Iranian scholar received the top award at the 4th International Invention Innovation Competition in Canada, iCAN 2019.
PhD student in petroleum engineering Kambiz Mehdizadeh won the gold medal for his “design on applicable hardware algorithm to provide a hydraulic fracture in...
Iran’s largest mobile power plant will be linked to the national grid next month, the deputy for supervisory affairs at the National Water and Wastewater Engineering Company of Iran (Abfa) said.
“The 10MW power plant will provide electricity to the water and wastewater industries during...