- Opening ceremony of the 17th Arab Steel Summit under the patronage of H.E. Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affa...
- Algeria allocates $3.5 billion to support exploration and to increase the size of hydrocarbon reserves
- Qatar Energy to add another 2 gigawatts to its installed solar capacity
- Indian Oil Corporation signs second agreement with Ruwais LNG
- The Iraqi government is unable to reduce production from Iraqi Kurdistan to be in line with OPEC+ decisions
- Saudi Arabia's oil export revenues to fall in 2024 due to repeated voluntary production cuts
- ASRY Awarded 2024 RoSPA Gold Medal in Health and Safety
- BP ponders shifting focus away from renewables, say sources
- QatarEnergy enters 10-year naphtha supply agreement with Japan’s ENEOS Corporation
- The International Energy Agency expects oil demand growth to slow in 2024
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Opening ceremony of the 17th Arab Steel Summit under the patronage of H.E. Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs
In a keynote speech opening the 17th Arab Steel Summit His Excellency Minister Saad Sherida Al-Kaabi: The Arab steel industry must pay special attention to investing in advanced technologies and fostering a culture of innovation His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State...
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Algeria allocates $3.5 billion to support exploration and to increase the size of hydrocarbon reserves
Algeria is reportedly allocating $3.5 billion between 2024 and 2028 to expand the country’s hydrocarbon reserves and increase primary production by intensifying exploration and research efforts. This amount will also be allocated to improving exploration performance and improving hydrocarbon...
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Qatar Energy to add another 2 gigawatts to its installed solar capacity
A few days ago, as part of its goals to decarbonize industry and diversify national power generation, Qatar Energy announced plans for a new 2 gigawatt solar project, a further step on the path to increasing solar installed capacity to 30% of installed capacity by 2030. The solar photovoltaic power...
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Indian Oil Corporation signs second agreement with Ruwais LNG
Indian Oil has signed an agreement with Ruwais LNG to supply 1 million tons per annum (mtpa) of LNG from its 9.6 mtpa plant under development in Ruwais. The new LNG plant is scheduled to come on stream in 2028. Under the 15-year agreement, 1 mtpa of LNG will be shipped to the Oil’s ports in...
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The Iraqi government is unable to reduce production from Iraqi Kurdistan to be in line with OPEC+ decisions
It seems that international oil companies operating in the Kurdistan region are obstructing the implementation of the instructions of the central administration in Baghdad regarding the production cuts agreed upon in the OPEC+ alliance. At a meeting of OPEC+ producers last month, Iraq pledged to...
Opening ceremony of...
In a keynote speech opening the 17th Arab Steel Summit His Excellency Minister...
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Algeria allocates $3...
Algeria is reportedly allocating $3.5 billion between 2024 and 2028 to expand...
Read more
Qatar Energy to add ...
A few days ago, as part of its goals to decarbonize industry and diversify...
Read more
Indian Oil Corporati...
Indian Oil has signed an agreement with Ruwais LNG to supply 1 million tons per...
Read more
The Iraqi government...
It seems that international oil companies operating in the Kurdistan region are...
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Saudi Arabia's oil e...
Saudi Arabia’s oil export revenues are estimated to decline by about $1...
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ASRY Awarded 2024 Ro...
The Arab Shipbuilding and Repair Yard Company (ASRY) has recently celebrated...
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BP ponders shifting ...
BP’s CEO Murray Auchincloss has reportedly initiated a hiring freeze and...
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IEG: SUSTAINABLE WAS...
The Global Water Expo section of the Italian Exhibition Group exhibition is expanding and brings...
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Egypt succeeds in co...
Egypt could obtain the sixth and final part of its $ 12 billion three-year loan program, which...
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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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Press Release N° 2: IEG: ECO...
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During the first half of 2020, the world has suffered from three strong crises (one after the...
Oil & Gas Prices of Today
| Crudes | $/B |
| Brent | 72.39 |
| WTI | 68.66 |
| OPEC Basket | 72.37 |
| Natural Gas | $/MMBTU |
| Natural Gas (Nymex) | 3.074 |
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
