Saudi Aramco, the world's largest oil producer, has discovered the presence of two new natural gas fields, Al-Hiran and Al-Mahakik, in the Empty Quarter region, Saudi energy minister Prince Abdulaziz bin Salman said on Sunday.
Japan’s Okinawa Electric Power has announced its plans to conduct a trial of co-firing hydrogen at a commercial gas-fired power plant.
Russia said that it has lifted restrictions on gasoline exports, following the previous lifting of restrictions on diesel exports.
Aramco has announced the production of the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule, which further supports Aramco's strategy to increase gas production by more than half over the next decade, subject to domestic demand.
ExxonMobil has announced the start of production at Payara, Guyana's third offshore oil development on the Stabroek Block.
The National Iranian Oil Company (NIOC) has signed four contracts with local firms, totaling $1.17 billion, for the drilling of 35 wells in the South Pars Gas Field. The contract is part of an initiative to enhance productivity and ensure the sustainable production of gas in the field.
The implementation of new projects in southern Iran has resulted in an increase of approximately 30,000 barrels per day (bbl/d) in the country's oil production, despite US sanctions aimed at curbing oil exports and the associated revenue for Iran’s government.
The US Energy Department has announced on Monday that it plans to buy 1.2 million barrels of oil in order to replenish the Strategic Petroleum Reserve (SPR). This comes after the largest-ever sale of 180 million barrels from the reserve last year. The purchase will be made at an average price of $77.57 per barrel from two companies, following the submission of 18 bids.
