A long-delayed deal between Saudi Arabia’s flagship oil company, Saudi Aramco, and Indian conglomerate, Reliance Industries, looks closer to going ahead following the recent appointment of Aramco chairman, Yasir Al-Rumayyan, as an independent director on the board of Reliance. Two or three years ago when the idea for the tie-up based around both companies’ oil-to-chemicals operations made some sense from both sides, now it makes great sense from Aramco’s side and no sense at all from Reliance’s, but wider geopolitical pressures mean that it is likely to go ahead anyway.

According to TASS news agency, on the night of July 4, local time, a huge explosion occurred in the Caspian waters near Azerbaijan and caused a fire. The scene was captured by residents on the shore and quickly spread in the media and the Internet.

Peru’s Oil Industry Is Bouncing Back Despite Election Chaos

Despite announcements last year that it is striving for net-zero carbon emissions by 2050, Norway has now said it will go full steam ahead in its oil ventures over the coming decades. While neighboring Denmark plans to end all North Sea operations by 2050, Norway, Western Europe’s largest oil producer, continues to offer exploration and production contracts to several companies, as it intends to develop its already well-established oil industry further.

India’s oil demand is expected to get back to normal by the end of the year, following months of uncertainty in the face of a third wave of Covid-19 infections.

The oil and gas industry is embracing new technologies to save time and costs and, most recently, to reduce the carbon footprint of its supply chain as the energy sector is under increased pressure to reward shareholders while helping to fight climate change. Along with artificial intelligence, machine learning, digital twins, and robotics, the world’s biggest oil and gas firms and oilfield services providers are betting on 3D printing, also known as additive manufacturing, to streamline operations, cut costs and save time, and reduce emissions from spare parts manufacturing.

Deliberations on which benchmark presents the best opportunities to trade just never seem to stop. The gradual decline of all erstwhile champions of North Sea output champions has compelled pricing agencies to include newer and newer grades into the Brent basket to ensure the traded benchmark’s liquidity.

Could East Africa Become The Next Major Oil Hotspot?

A daring junior oil and gas explorer has set out to put the African country of Namibia—which has never produced a single barrel of oil - on the world’s energy map in a wildcat drill campaign that has taken many by surprise.

One of the world’s largest liquefied natural gas (LNG) exporters, Qatar, expects global natural gas demand to peak at some point around 2040, Bloomberg reported on Monday, quoting a bond prospectus of Qatar Petroleum it had seen.

Despite a strong rebound in oil prices, seeing them hit three-year highs, U.S. shale oil producers are sticking to their output discipline, Reuters reports, citing rig count data and industry insiders.

Brazil's Oil Boom Continues Unabated