The average price of gasoline in Iraq reached 5.14 U.S. dollars per liter. In its report for January 2023, Global Petrol Prices said that Iraq ranked 12th among countries with the cheapest gasoline prices (514 cents per liter) and fifth among Arab countries, preceded by Libya, Syria, Algeria, and Kuwait. …

Venezuela’s state oil firm PDVSA is tightening terms for buyers after a monthlong halt to most exports of crude and fuel, demanding prepayment ahead of loadings in either cash, goods or services, company documents showed. PDVSA’s new Chief Executive Pedro Tellechea put the move in place this month. It reinforces …

Oil prices fell on Monday, giving up earlier gains, as global producers this week will likely keep output unchanged during a meeting this week and investors are cautious ahead of a U.S. Federal Reserve meeting that may spur market volatility. Brent crude futures fell 20 cents, or 0.2 per cent, …

Saudi Arabia, the world’s largest oil exporter, may trim prices for crude grades sold to Asia for a fourth straight month in March, amid low physical oil premiums, as oversupply worries linger despite expectations of demand recovery in China. State oil company Saudi Aramco may lower the official selling price …

The Abu Dhabi National Oil Company (ADNOC) is eyeing a valuation of at least $50 billion for its gas business slated to float this quarter, two sources familiar with the matter said, setting the stage for one of the most highly anticipated stock market listings this year. The state oil …

Russia’s war in Ukraine will accelerate the shift away from oil and gas as countries around the world prioritize domestic renewable energy sources as a way to increase security of supply while also cutting carbon emissions. That’s the conclusion from the latest annual energy outlook from the economists at BP. …

The 14th edition of the South Pars Oil, Gas, Refinery, and Petrochemical Exhibition (SPPEX 2023) was inaugurated in the Pars Special Economic Energy Zone (PSEEZ) at Iran’s energy hub Assaluyeh on Sunday. The opening ceremony of the exhibition was attended by several provincial officials including Abolhassan Razminia, the head of …

France’s TotalEnergies and Eni have completed the transfer to QatarEnergy of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon, the French firm said on January 29. “We are very pleased to welcome QatarEnergy in our exploration acreage in Lebanon. The recent delineation of Lebanon’s …

Windfall taxes, price caps, and calls for more oil and gas production marked 2022 in oil and gas. It looks like we’re in for a lot more of the same this year, especially with Western governments doubling down on their emission-reduction ambitions. The record profits that oil and gas majors …

Italian energy giant Eni signed an $8 billion gas deal with Libya’s state-run National Oil Corporation Saturday as Prime Minister Giorgia Meloni visited Tripoli. European governments have been scrambling to find alternatives to Russian gas since last year’s invasion of Ukraine saw deliveries slashed to less than half their pre-war …