The two players intend to invest up to 4 billion euros or almost $4.4 billion for the development phase of the project to be spent mostly during 2024-2026, which will enable about 100 bcm of natural gas to be brought on stream, turning Romania into – what OMV Petrom deems to be – the largest gas producer in the EU and a net natural gas exporter.

Preliminary production figures for May 2023 show an average daily production of 1 991 000 barrels of oil, NGL and condensate.

While renewable power generation from wind and solar continues to capture much of the peak power demand in The Electric Reliability Council of Texas, demand for gas-fired cooling is also up.

The Worldwide Rig Count for May was 1,783, down 25 from the 1,808 counted in April 2023, and up 155, from the 1,628 counted in May 2022.

Preliminary production figures for April 2023 show an average daily production of 2 035 000 barrels of oil, NGL and condensate.

U.S. natural gas production to increase 15% and liquefied natural gas (LNG) exports to increase 152% between 2022 and 2050.

The Worldwide Rig Count for March was 1,879, down 43 from the 1,921 counted in February 2023, and up 218, from the 1,661 counted in March 2022.

In 2023, global gas consumption is forecasted to increase by around 1% y-o-y,

"Венгрия остаётся, по сути, единственной из стран Евросоюза, твёрдо отстаивающей свои национальные интересы, включая суверенную позицию в диалоге с Москвой", – отметил Александр Новак.

The EU says its sanctions are meant to cut Moscow revenues and access to technology used in war.