- LNG market disruption may continue for months as a top producer withholds some Italian shipments
- Iraq’s push for bigger OPEC quota driven by revenue pressures, new oil investment
- Libya’s oil production reaches highest level since 2013, nears 1.5 million bpd
- Barclays cuts Brent price forecasts for 2026 and 2027
- Putin: Stability in the Middle East will support global energy markets
- The Arab Region’s LNG Pioneer Passes Away
- UAE left Opec to pump more as end of oil era looms, presidential adviser says
- QatarEnergy signs MoU for gas cooperation with Egypt in the Eastern Mediterranean
- Aramco Chief: Saudi Arabia seeks to increase its exports from the port of Yanbu on the Red Sea to 5 million barrels per day
- IMF, World Bank, others warn Middle East war is straining energy supplies
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LNG market disruption may continue for months as a top producer withholds some Italian shipments
War damage to energy facilities in Qatar, one of the world’s biggest liquefied natural gas producers, signals that disruptions to the market may continue for months, even with the Strait of Hormuz open. Edison SpA, the Italian electric utility unit under French group EDF, said QatarEnergy...
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Iraq’s push for bigger OPEC quota driven by revenue pressures, new oil investment
An economic crisis caused by the Iran war and a fresh surge of investment by oil majors are driving Iraq’s aggressive push for a higher OPEC production quota, potentially placing it on a collision course with the producer bloc. The pressure from Baghdad adds to the challenges confronting the...
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Libya’s oil production reaches highest level since 2013, nears 1.5 million bpd
The National Oil Corporation (NOC) announced that Libya’s oil production has reached its highest level since 2013, with total daily output of crude oil and condensates rising to 1,487,723 barrels per day (bpd), bringing the country closer to its target of 1.5 million barrels per...
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Barclays cuts Brent price forecasts for 2026 and 2027
Barclays on Friday cut its Brent crude price forecasts to $96 per barrel for 2026 and $85 per barrel for 2027, down from $100 and $88 respectively, after an increase in oil flows through the Strait of Hormuz. Crude prices were on course for weekly losses, as more oil tankers exited the...
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Putin: Stability in the Middle East will support global energy markets
Russian President Vladimir Putin stressed that achieving stability in the Middle East region will have a positive impact on global energy markets. Usman Nurmagomedov #ShortsThis comes in light of the region’s connection to one of the most important sources of oil and gas production and export in...
Upcoming Events
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Oil, Gas and Petroleum Enginee...
17 – 19 September 2026, Rome, Italy -
Saudi Rotating Equipment T...
4 - 6 May 2026, Kempinski Al Othman, Al Khobar, KSA -
Egypt Mining Forum 2026
28 - 29 September 2026. The St. Regis New Capital, Cairo -
ADIPEC 2026
2 - 5 November 2026,ADNEC, Abu Dhabi, United Arab Emirates
LNG market disruptio...
War damage to energy facilities in Qatar, one of the world’s biggest...
Read more
Iraq’s push fo...
An economic crisis caused by the Iran war and a fresh surge of investment by...
Read more
Libya’s oil producti...
The National Oil Corporation (NOC) announced that Libya’s oil production has...
Read more
Barclays cuts Brent ...
Barclays on Friday cut its Brent crude price forecasts to $96 per barrel for...
Read more
Putin: Stability in ...
Russian President Vladimir Putin stressed that achieving stability in the...
Read more
UAE left Opec to pum...
The decision by the United Arab Emirates (UAE) to leave the Organization of the...
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QatarEnergy signs Mo...
QatarEnergy signed a Memorandum of Understanding (MoU) with the Government of...
Read moreTraining
Articles
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International variables cast a...
The International Energy Agency expected the global demand for oil to increase to about 102 million...
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World Bank: Global debt to exc...
Reports from the World Bank and the International Finance Corporation indicate that the global debt...
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IEG: ECOMONDO AND KEY ENERGY 2...
Over 80 live talk events on the calendars of Ecomondo and Key Energy, being held from 3rd to 6th...
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In Italy, Ecomondo and Key Ene...
Rimini (Italy) 20th July 2020 – The potential for windpower in North Africa, the transition...
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The dangers surrounding OPEC I...
During the first half of 2020, the world has suffered from three strong crises (one after the...
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Overview of the LNG Latin Amer...
Natural gas is the purest and cleanest fossil fuel that exists, it generates fewer emissions than...
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Chevron expects to restore pro...
After four and a half years, the Wafra oil field is set to resume production soon. Ed Colina,...
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Basic Concepts of World Petrol...
Mohamed Hassan Salem Oil and Gas Economic Expert Head of “Middle East Center for Energy...
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Oil and Gas Situation in Kuwa...
Oil and Gas Situation in Kuwait Mohamad Hassan Salem Chairman/ Middle East Center for Energy...
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An Era of Energy Insecurity: T...
An Era of Energy Insecurity: The Global Oil Market in its New Geopolitical Context Dr. Pierre...
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Deepwater Horizon oil rig expl...
Deepwater Horizon oil rig explosion Oil Spill from Macondo Well into the Gulf of Mexico A sign for...
Oil & Gas Prices of Today
| Crudes | $/B |
| Brent | 72.86 |
| WTI | 70.50 |
| OPEC Basket | 77.37 |
| Natural Gas | $/MMBTU |
| Natural Gas (Nymex) | 3.209 |
Primary Energy Resources (%)
|
(Share) |
(Share) |
|
| Oil | 33.0% | 31.2% |
| Gas | 24.2% | 24.7% |
| Coal | 27.0% | 27.2% |
| Nuclear | 4.3% | 4.3% |
| Hydro | 6.4% | 6.9% |
| Renewables | 5.0% | 5.7% |
| Total Resources | 100% | 100% |
Top 10 World Oil Reserves
| Countries | Oil (Billion bbl) | % of World total | R/P ratio (Years of lifetime) |
| Venezuela | 304 | 17.5 | * |
| S. Arabia | 298 | 17.2 | 69 |
| Canada | 168 | 9.7 | 82 |
| Iran | 158 | 9.1 | 121 |
| Iraq | 145 | 8.4 | 83 |
| Russian F. | 108 | 6.2 | 26 |
| Kuwait | 102 | 5.9 | 93 |
| UAE | 98 | 5.7 | 67 |
| USA | 69 | 4.0 | 11 |
| Libya | 48 | 2.8 | 108 |
Notes:
- - Proved reserves as of 1.1.2021 (BP Annual Statistical Review of 2021)
- - * more than 500 years
- - Reserves include gas condensates and NGL’s as well as crude oil
Top 10 World Gas Reserves
| Countries | N. Gas (Trillion CF) | % of World total | R/P ratio (Years of lifetime) |
| Russia fed. | 1321 | 19.88 | 56 |
| Iran | 1134 | 17.07 | 131 |
| Qatar | 871 | 13.11 | 139 |
| Turkmanstan | 480 | 6.71 | 309 |
| USA | 446 | 6.71 | 14 |
| China | 297 | 4.47 | 47 |
| Venezuela | 221 | 3.33 | 238 |
| Saudi Arabia | 213 | 3.20 | 53 |
| UAE | 210 | 3.16 | 95 |
| Nigeria | 193 | 2.91 | 109 |
| Iraq | 125 | 1.87 | - |
| Azribejan | 88 | 1.33 | - |
| Australia | 84 | 1.27 | - |
| Canada | 83 | 1.25 | - |
| Algeria | 81 | 1.21 | - |
| Kazakhistan | 80 | 1.20 | - |
| Egypt | 76 | 1.14 | - |
| kuwait | 60 | 0.09 | - |
| Norway | 51 | 0.08 | - |
| Libya | 51 | 0.08 | - |
Notes:
- - Proved reserves as of 1.1.2021
- - Source:BP Annual Statistical Review of 2021
