- QatarEnergy enters 25-year condensate supply greement with Shell
- Iraq plans to reduce its oil exports to comply with production cuts required by OPEC+
- Libya: Oil Production to Exceed 1.38 Million Barrels Per Day in April 2025
- ADNOC to expand LNG Deals in Southeast Asia with inaugurating of Sales and Marketing Office in (Beijing)
- Kuwait: Approaching 3.2 million barrels per day in crude oil production capacity
- Egypt and France Launch €7 Billion Fully Private Green Hydrogen Megaproject in Ras Shukeir
- Qatar: Signing a historic agreement to supply 100 million cubic feet of helium annually to China.
- Kuwait: Oil revenues to decline despite increased exports of high-value derivatives.
- UAE: ADNOC Group to invest heavily in oil, gas, and petrochemical sectors.
- Egypt: $7 billion petrochemical complex in New Alamein
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QatarEnergy enters 25-year condensate supply greement with Shell
DOHA, Qatar • 30 April 2025 – QatarEnergy entered into a long-term condensate supply agreement with the Singapore-based Shell International Eastern Trading Company (SIETCO), a wholly-owned subsidiary of London-listed Shell Plc. The agreement, signed by His Excellency Mr. Saad Sherida Al-Kaabi,...
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Iraq plans to reduce its oil exports to comply with production cuts required by OPEC+
Estimates indicate that Iraq’s production last month exceeded the permissible limit by a range of 90,000 barrels per day (bpd) according to OPEC+ estimates, and 300,000 bpd according to the International Energy Agency. OPEC and its allies have warned of the seriousness of these violations and...
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Libya: Oil Production to Exceed 1.38 Million Barrels Per Day in April 2025
In April 2025, the National Oil Corporation (NOC) announced the launch of 22 investment blocks in a new bidding round, including 11 onshore and 11 offshore blocks. According to the corporation, the new bidding round will be conducted under new and attractive terms for investors and will include...
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ADNOC to expand LNG Deals in Southeast Asia with inaugurating of Sales and Marketing Office in (Beijing)
The UAE’s oil and gas sector has witnessed significant expansion in recent years. Through the Abu Dhabi National Oil Company (ADNOC), further investments are planned to develop activities across all sectors related to the oil and gas, petrochemicals, transportation, and services...
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Kuwait: Approaching 3.2 million barrels per day in crude oil production capacity
Kuwait is the fifth-largest oil producer in OPEC, with current production of approximately 2.5 million barrels per day. Kuwait aims to increase its production capacity to 3.2 million barrels per day by the end of 2025 and then to 4 million barrels per day by 2035. Kuwaiti sources have indicated...
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Oil & Gas Prices of Today
| Crudes | $/B |
| Brent | 63.12 |
| WTI | 58.18 |
| OPEC Basket | 66.52 |
| Natural Gas | $/MMBTU |
| Natural Gas (Nymex) | 3.344 |
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
