BEIJING / Reuters China’s domestic prices for liquefied natural gas (LNG) on Monday topped 7,000 yuan ($1,061) a tonne, highest since at least 2011, as demand soared with millions of homes burning gas for the winter instead of coal. Wholesale LNG prices have gained more than half their value from mid-November, meaning the jump in prices has come less than ...

BAGHDAD / Reuters Iraq on Monday invited foreign companies to bid for contracts to explore and develop oil and natural gas reserves in nine new blocks as the OPEC nation seeks to boost its output capacity. “We invite all international companies to participate,” Oil Minister Jabar al-Luaibi told a news conference in Baghdad. “This new exploration bidding round aims to ...

DHAHRAN / Reuters More petrochemical projects will follow after Saudi Aramco agreed to join a $20 billion venture to convert crude oil to chemicals, the state oil company’s chief executive told Reuters. Aramco and Saudi Basic Industries Corp (SABIC) signed a preliminary deal to build a petrochemicals complex with start-up seen in 2025. Aramco has been looking to develop its ...