A U.S. official in Baghdad said 100 U.S. companies were participating in the conference.

Hungary sent some of its gas reserves to Serbia. which was even more acutely affected by the crisis.

OPEC member Iran revealed plans to ramp-up production by at least 700.000bpd within the next four years.

India plans to increase its crude oil refining capacity by 77 percent to 438.65 million tons.

UAE-based firm plans investment of $1b to boost gas production to 500m cubic feet by 2020

Algeria is a major gas supplier to Europe.

The Iranian ambassador stressed the need for greater use of the capacities of the two countries.

Iran’s LPG exports appear to rise this year and for February. the country has already 132.000 tons fixed for lifting in three cargoes.

The Abu Dhabi oil major plans to invest $3.1 billion into the refinery project to introduce crude processing flexibility.

EIA reported that Russia. however. is the largest oil supplier to the Chinese market.