A senior Kuwaiti oil official says his country plans to spend $55 billion on oil projects in the next five years.
Jamal al-Nouri, managing director for planning at state-owned Kuwait Petroleum Corp., says the money will be used for production, refineries, and building new tankers. He says some will also be spent on oil investments in [...]

UBS Investment Research raised its forecast for the price of natural gas to $9 per 1,000 cubic feet from $7.25 per 1,000 cubic feet.
“We believe improved domestic natural gas demand trends, soaring coal prices and likely increases in the cost of electricity generation, and increased competition for LNG (liquefied natural gas) from the Asian Pacific [...]

China Coal Energy, the country’s No. 2 coal producer, is exploring investments in Australia and Indonesia while it doubles spending to ramp up production and feed the world’s largest coal market.
China Coal, the country’s largest coal producer after Shenhua Energy, also expected to export about as much of the hydrocarbon this year as it did [...]

PT Adaro Indonesia, the country’s number two coal miner, expects its coal production to increase by about 5 percent to 40 million tonnes this year, an Adaro shareholder said on Tuesday.
Sandiaga Uno, whose investment fund Saratoga Capital owns 32 percent of the coal mining firm, said that Adaro is “still on track” to raise between [...]

Japanese gas utilities want to provide Indonesia with technology that would allow it to produce gas from coal, in exchange for a stable supply of liquefied natural gas to Japan, a senior industry official said Thursday.
“Coal-to-gas technology has been there for a decade or so,” said Kunihiro Mori, managing director of the Japan Gas Association. [...]

OPEC’s forecast for a rise in global oil demand is unchanged this month from the March outlook: up 1.2 million barrels per day this year to an average 87 million barrels per day.
That compares with last week’s outlook from the International Energy Agency for a sharp drop in global demand.
The Organization of Petroleum Exporting Countries [...]

Oil prices steadied Wednesday above $113 a barrel after setting a record on growing concerns about insufficient global supply.
ADVERTISEMENT
Oil surged to an all-time high of $114.08 a barrel Tuesday after a high-profile report by the International Energy Agency said Russian oil production dropped this year for the first time in a decade.
Analysts said growing investor [...]

Oil Search Ltd has sold a package of its Middle Eastern assets for $US200 million ($A216.01 million) to focus on the development of a liquefied natural gas project in Papua New Guinea.
The oil and gas producer, PNG’s largest, has sold eight assets across Egypt and Yemen to private outfit, Kuwait Energy Company KSC.
“The sale of [...]