Former OPEC affairs head of the Iranian Ministry of Petroleum cited two economic and political factors as main reasons behind the recent OPEC+ surprise decision to cut…
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The collective oil output cut by OPEC+ is a very important decision made by the alliance, as it is, in fact, the big producers’ move toward ending…
The 48th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 3 April 2023.
The committee reviewed the crude…
The Kremlin said on Monday that it was in the interests of the world energy industry to support prices for oil and oil products, a day after…
Top oil exporter Saudi Arabia may raise crude prices for Asia in May after OPEC+ announced additional production cuts to shore up the market just as China’s demand is…
Russia’s largest oil producer Rosneft (ROSN.MM) and India’s top refiner Indian Oil Corp (IOC.NS) agreed to use the Asia-focused Dubai oil price benchmark in their latest deal to deliver Russian oil…
On Sunday, OPEC+ announced a surprise production cut of some 1.16 million barrels per day, increasing the total OPEC+ cut to 3.66 million bpd.
News broke this week that Saudi Arabia’s state oil company, Aramco, is further strengthening its relationship with the Chinese market. Aramco’s latest deal is a 10% acquisition of…
Iraq’s federal government and the Kurdistan Regional Government (KRG) have reached an initial agreement to restart northern oil exports this week, a KRG spokesman said on Sunday,…
The Abu Dhabi Ports Group (ADP), a major logistics company, and KazMunayGas, the state-owned oil company of Kazakhstan, met to discuss expanding the Caspian Integrated Maritime Solutions (CIMS)…
OPEC oil output fell in March due to oilfield maintenance in Angola and a halt in some of Iraq’s exports, a Reuters survey found on Friday, adding…
UK Oil & Gas PLC – UK and internationally focused energy company – Reports revenue for the full year ended September 30 from sales of oil amounted…
National Iranian South Oil Company (NISOC) is planning to enhance production within the framework of short-term annual plans. Given NISOC’s 80% share in Iran’s oil production, planning…
An international arbitration ruling on March 23 prompted the shutdown of Iraq’s northern crude oil exports through Turkey and sent oil prices back towards $80 a barrel.
Oil prices are set for a second consecutive weekly gain, driven higher by supply disruptions and the receding fears of a banking crisis.
The…
QatarEnergy has signed an agreement to acquire stakes in two offshore exploration blocks from ExxonMobil Canada, as part of the state-owned energy giant’s broader strategy to expand…
PetroChina (601857.SS), said on Thursday that it expects Chinese refined fuel demand to rise 3% this year from pre-COVID levels in 2019 and that of natural gas to…
OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after…
Oil prices rose on Thursday as a surprise drop in U.S. crude stockpiles and a halt in exports from Iraq’s Kurdistan region offset a smaller-than-expected cut to…
The increase in export and the new record in producing crude oil despite the economic sanctions on Iran are among the achievements of the Raisi administration, an…