- United States and Saudi Arabia Reach Historic Nuclear Cooperation Agreement
- Kuwait’s KPC signs $16 billion lease and leaseback deal for oil pipeline network
- Egypt approves oil and gas deals including Perenco North Sinai project
- QatarEnergy buys 33 US LNG cargoes to offset Hormuz disruption, sources say
- Iraq signs Halliburton field deal, advances Chevron export pipeline studies
- 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
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United States and Saudi Arabia Reach Historic Nuclear Cooperation Agreement
U.S. Secretary of Energy Chris Wright and Saudi Minister of Energy His Royal Highness (HRH) Prince Abdulaziz bin Salman signed a peaceful nuclear cooperation agreement, commonly known as a 123 agreement, alongside an accompanying bilateral safeguards agreement. Together, these two agreements lay...
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Kuwait’s KPC signs $16 billion lease and leaseback deal for oil pipeline network
Kuwait Petroleum Corporation (KPC) has signed a $16 billion deal to lease and lease back its crude oil pipeline network with a consortium comprising global funds Blackstone (BX.N), opens new tab, Brookfield (BN.TO), opens new tab and KKR (KKR.N), opens new tab, the state-owned Gulf firm said on...
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Egypt approves oil and gas deals including Perenco North Sinai project
Egypt’s parliament approved four oil and gas exploration and development agreements on Wednesday, including a North Sinai project involving Franco-British independent producer Perenco. Egypt is looking to bolster domestic energy production that has struggled to keep pace with growing...
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QatarEnergy buys 33 US LNG cargoes to offset Hormuz disruption, sources say
QatarEnergy (QE) has bought 33 spot LNG cargoes this year from the U.S. for delivery to South Korea, Taiwan, Bangladesh, India and Japan, four trade and industry sources said, as it tried to reduce disruption to key customers after Qatari gas exports through the Strait of Hormuz were halted...
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Iraq signs Halliburton field deal, advances Chevron export pipeline studies
A five-year contract with Halliburton targets 250,000 bpd from two Basra fields, while a Chevron-linked consortium wins approval to study Turkey and Syria export pipeline routes. Halliburton signed a five-year integrated management contract with Iraq’s Basra Oil Company on 5 July 2026 to develop...
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
United States and Sa...
U.S. Secretary of Energy Chris Wright and Saudi Minister of Energy His Royal...
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Kuwait’s KPC s...
Kuwait Petroleum Corporation (KPC) has signed a $16 billion deal to lease and...
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Egypt approves oil a...
Egypt’s parliament approved four oil and gas exploration and development...
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QatarEnergy buys 33 ...
QatarEnergy (QE) has bought 33 spot LNG cargoes this year from the U.S. for...
Read more
Iraq signs Halliburt...
A five-year contract with Halliburton targets 250,000 bpd from two Basra...
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LNG market disruptio...
War damage to energy facilities in Qatar, one of the world’s biggest...
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Iraq’s push fo...
An economic crisis caused by the Iran war and a fresh surge of investment by...
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Libya’s oil producti...
The National Oil Corporation (NOC) announced that Libya’s oil production has...
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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 | 89.35 |
| WTI | 83.68 |
| OPEC Basket | 88.39 |
| Natural Gas | $/MMBTU |
| Natural Gas (Nymex) | 2.778 |
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
