Due to evolving nature of Reliance's business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context.

Global energy demand is set to increase from 275.4 mboe/d in 2020 to 352 mboe/d by 2045

At the end of 2019, combined oil output from ExxonMobil, BP, Shell, Chevron, TotalEnergues, Equinor, ConocoPhillips, and Eni stood at 13.3 million b/d, or about 13% of total global supplies,

According to preliminary data, Gazprom produced 422.6 billion cubic meters of gas in January–October of 2021, which is 15.8 per cent (or 57.7 billion cubic meters) more than in the same period of last year.

Coal (including lignite) still dominates the energy mix with 60% in 2020, but its share is decreasing rapidly (-11% points since 2010).

Exxon Mobil Corporation announced estimated third-quarter 2021 earnings of $6.8 billion, or $1.57 per share assuming dilution.

“Together, OPEC and GECF can count on their respective competencies to ensure that the global economy heals after the devastation of coronavirus and that a reliable and secure energy supply serves humanity like never before,”

The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its third quarter financial results, recording a 158% year-on-year (YoY) increase in net income to $30.4 billion and declaring a dividend of $18.8 billion to be paid in the fourth quarter.

Third quarter 2021 income attributable to Royal Dutch Shell plc shareholders was a loss of $0.4 billion, which included non-cash charges of $5.2 billion due to the fair value accounting of commodity derivatives and post-tax impairment charges of $0.3 billion, partly offset by net gains on sale of assets of $0.3 billion.

The Jazan IGCC project will convert vacuum residue to be produced in the adjacent Jazan refinery (400,000 bbl/d) into synthesis gas (syngas).

Since India's per-capita energy consumption is about one-third the global average, demand is expected to rise exponentially, creating the need to push both refining expansion as well as clean energy initiatives,

Preliminary production figures for September 2021 show an average daily production of 2 022 000 barrels of oil, NGL and condensate.

Several factors are fuelling this price surge in energy commodities – primary among them is energy demand having rebounded as economies get back to business and consumers return to pre-pandemic levels of economic activity.

This scenario also sees an accelerating pace of change in the power sector, sufficient to realise a gradual decline in the sector’s emissions even as global electricity demand nearly doubles to 2050.

Natural gas and coal prices in Europe and Asia just hit their highest levels on record, oil prices in America hit a seven-year high and U.S. gasoline prices are up $1 a gallon from last year.