International

CNOOC plans North Sea oil exit in strategic shift

China biggest offshore producer CNOOC Ltd is preparing to exit one of the North Sea largest field in a strategic shift of focus to newer oil and gas developments and away from Western assets, banking and industry sources said

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UAE will work with OPEC+ to make sure energy market is stable, minister says

The UAE is trying to do its best and raise its capacity to 5 million barrels but that does not mean it plans to leave OPEC+ or do something unilaterally

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Italy eying two floating LNG plants to cut Russia gas reliance

Italy is looking to install two floating storage and regasification units (FSRUs) to boost liquefied natural gas (LNG) imports as part of plans to cut reliance on Russian gas, three sources familiar with the matter said on Tuesday

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Jordan EMRC plans to utilise compressed natural gas from Risha field — official

The Energy and Minerals Regulatory Commission (EMRC) intends to utilise compressed natural gas from Risha gas field, according to the director of the Natural Gas Directorate, Abd Al Salam Al Zyoud

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Eni pledges more gas for Europe to help cut reliance on Russia

Italian energy group Eni said on Friday it could provide extra gas to Europe to help reduce reliance on Russian supplies after Moscow invasion of Ukraine. Eni made the pledge as it set out its strategy to 2025, promising investors better returns and vowing to pick up the pace on its climate ambition to be carbon neutral by 2050.

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India considers buying discounted Russian oil, commodities, officials say

India is considering taking up a Russian offer to buy its crude oil and other commodities at discounted prices with payment via a rupee-rouble transaction, two Indian officials said, amid tough Western sanctions on Russia over its invasion of Ukraine

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Oman could see a record budget surplus in 2022 as oil prices surge

Crude oil prices peaked at $130 per barrel last week as Russian troops keep pounding Ukraine and turn a blind eye to the international community plea to stop the invasion

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Enel ready to resume LNG plan as Italy steps up gas hunt

Italian biggest utility Enel is ready to dust off plans to build a liquefied natural gas (LNG) terminal in southern Italy as Rome steps up its efforts to find alternative supplies to replace Russian gas

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