As Europe emerges from a mild winter with gas storage close to record levels, it must brace for another costly race to replenish its reserves on the international market.
read more... 23/02/2023
Oil prices rebounded on Monday as attention shifted back to the fundamentals of supply and demand, with Russia's output expected to decline and China's reopening boosting slightly the demand. As a result, Brent crude oil gained 1.3% day-on-day to settle at $84.07 a barrel.
read more... 21/02/2023
Global oil demand is set to increase by 2 million barrels per day (bpd) this year, pushed up by growth in Chinese consumption after the reopening, the International Energy Agency (IEA) said on Wednesday as it raised its 2023 demand growth estimate by 100,000 bpd from last month’s forecast.
read more... 16/02/2023
Libya's oil ministry has rejected the $8bn offshore gas projects deal signed between the country's state-owned NOC and Italy's Eni on 28 January, saying the agreement violates the law and was done without its approval.
read more... 31/01/2023
Italian energy company Eni and Libya's National Oil Corporation (NOC) signed an $8 billion gas production deal on Saturday aimed at boosting energy supplies to Europe despite the insecurity and political chaos in the North African country.
read more... 30/01/2023