The Persian Gulf nation aims to raise output to over 1 billion cubic meters by March from around 880 million cubic meters daily.

The agreement also underscores China Energy’s ambition to diversify its business into natural gas and the refining sector.

The US had sought to persuade India to secure its future energy supply using an alternative TAPI pipeline.

Venezuela lost the top spot to Brazil amid triple-digit inflation. unpaid debts to oil-service companies and lack of investment.

Mexico is the world’s 12th-largest oil producer. and has some of the world’s best renewable energy resources.

OPEC meets at the end of this month and has been widely expected to extend the deal.

Iraq is Iran'.s southwestern neighbor. and its port city of Basra is located in southeast of the country at northern edge of the Persian Gulf.

US tight oil production has exceeded previous growth expectations and is currently forecast to contribute to a rise in overall US liquids by some 0.6 mb d in 2017 and then 0.9 mb d in 2018.

Oil demand could peak in the 2030s if the electric car boom proceeds as promised by the world’s green energy innovators. according to OPEC.

Basra Gas is a joint venture between Shell. South Gas Co.. Mitsubishi Corp. and the petrochemical project Nebras.