Venesuela'.s oil production has fallen to just 1.17 million barrels-per-day. a 37 percent drop in the last year.

Iran considerably increased the value of its non-oil exports to Indonesia in the first half of the current Iranian year.

TAP will be 878 kilometers in length (Greece 550 kilometers. Albania 215 kilometers. Adriatic Sea 105 kilometers. and Italy 8 kilometers).

Novatek plans to boost LNG output to 56mn tonnes by 2030.

Once the project is finalized. TurkStream will carry natural gas from Russia to Europe via Turkey. bypassing Ukraine.

OPEC reportedly considered announcing a cut of 1.4 million bpd.

Since the 2003 U.S.-led invasion of Iraq. Kirkuk has remained the subject of dispute between the central government in Baghdad and the Erbil-based KRG.

Oil prices have plunged by around 30 per cent since their last peaks in early October.

Thanks to shale. US oil production surged to a record level of 11.6 million barrels per day earlier this month.

The kingdom is considering slashing oil production by up to 1.4 million barrels per day (bpd) with OPEC members.