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The Strategic Petroleum Reserve (SPR) has been a controversial part of the energy debate since the first Arab oil embargo. During the 1973 Arab-Israeli War, Arab members of the Organization of Petroleum Exporting Countries (OPEC) imposed an embargo against the United States in retaliation for the U.S. decision to re-supply the Israeli military. Shortages of crude oil and petroleum products resulted which created rapidly rising prices and long lines at gasoline pumps. The embargo highlighted the nation’s dependence on oil imports from unfriendly Arab countries. Political leaders in Washington decided…

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Turkey on Thursday accused Cyprus of violating its continental shelf by awarding an exploration license in the Mediterranean to Exxon Mobil (XOM.N) and Qatar Petroleum [RIC:RIC:QATPE.UL], adding it will not allow unauthorised exploration in its jurisdiction. For decades, Turkey has been at odds with Greece and Cyprus over competing territorial claims in the east Mediterranean, air space, energy, the status of some islands in the Aegean, and the ethnically-split island of Cyprus. Greece and Turkey do not agree on the limitations of their respective continental shelves, while in the case of Cyprus,…

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No restriction at all in Pakistan if power consumers want to install solar systems to energize their homes, offices’ The Sindh government has advised the general public to install solar systems as an effective and clean off-grid solution to meet their energy needs both for their homes and offices. The advice to this effect was given by the Sindh government’s Secretary for Energy Department, Abu Bakar Ahmed Madani while speaking as the chief guest at a seminar on solar energy awareness organized by Energy Update and Powered by Inverex Solar…

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Saudi Arabia, the world’s largest oil producer, has ramped up development at the natural gas-rich Jafurah field in the Eastern Province, considered the largest unconventional field of its kind in the Kingdom. State-owned Saudi Arabian Oil Co., aka Aramco, secured regulatory approval in early 2020 to develop the mega field, which holds an estimated 200 Tcf. Designed to meet the “rising demand for high-value petrochemicals feedstock,” Jafurah is expected by 2030 to produce 2.2 Bcf/d, along with 418 MMcf/d of ethane and 630,000 b/d of natural gas liquids and condensate,…

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The longer the prices for natural gas remain at record high levels in Europe this year, the stronger the markets feel that Russian gas should not be seen as a quick fix to the problem, at least not before this winter ends. “Overall gas production in Russia over the three quarters of 2021 was 12 percent and 2.6 percent higher than a year ago and in 2019. But it was not adequate to raise the supply to the EU immediately,” analysts at Bloomberg NEF said in a note dated Oct.…

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