Iraqi Oil Minister, Hayan Abdul Ghani, announced today that gas investment operations have commenced in the Akkas gas field, located in al-Anbar governorate, with a production rate of 60 million standard cubic feet per day (MMSCFD). The Ministry spokesperson emphasized the significance of this development as an invitation to foreign …

Europe has negotiated through the winter of a crisis that threatened to choke energy supplies and overwhelm its economy, but officials are warning that the squeeze may not yet be over. Fears of blackouts and freezing homes have faded for now, and gas reserves remain far fuller than normal. The …

Crude oil inventories in the United States fell this week by 6.076 million barrels, the American Petroleum Institute (API) data showed on Tuesday, in a major divergence from the 187,000 barrel build that was expected. The total number of barrels of crude oil gained so far this year is still …

Saudi Aramco’s new refinery deal to buy a 10% stake in private Chinese chemical group Rongsheng Petrochemical includes agreements on crude oil storage in eastern China and the supply of plastics and petrochemicals to the Middle East energy giant. Saudi Aramco said on Monday it would buy the stake in …

Qatar’s state-owned energy giant QatarEnergy has entered into a farm-in agreement for two exploration licenses offshore Newfoundland and Labrador in Canada with ExxonMobil Canada, a subsidiary of the U.S. oil major ExxonMobil. This deal allows the Qatari player to expand its offshore exploration portfolio in Atlantic Canada. QatarEnergy revealed on …

BP Plc and Abu Dhabi National Oil Co. will form a natural gas joint venture and have made an offer to take Israel’s NewMed Energy private in a deal worth around $2 billion. The move will deepen BP’s presence in the eastern Mediterranean and mark ADNOC’s first venture into the …

The U.S. surpassed Russia as the top oil supplier to Europe at the end of last year as sanctions targeting Russia’s energy sector took hold. In December 2022, the U.S. exported nearly 34.5 million barrels of oil to the European Union, accounting for about 18% of the EU’s total imports, …

The OPEC+ coalition is showing no signs of adjusting oil production next week, staying the course amid turbulence in financial markets. Group leader Saudi Arabia has said publicly that the 23-nation alliance should keep supplies steady for the whole of 2023 as it navigates a fragile recovery in global oil …

The European Union is targeting a way for member states to have the option to effectively ban Russian shipments of liquefied natural gas without implementing new energy sanctions. The bloc’s energy ministers on Tuesday endorsed a proposal that would allow member governments to temporarily prevent Russian exporters from booking the …

Iraq’s oil ministry welcomed an arbitration ruling in its long-running dispute with Turkey centered on crude oil exports from the semi-autonomous Kurdish region and said it would discuss “mechanisms” to keep oil flowing. The International Chamber of Commerce’s International Court of Arbitration decided in Iraq’s favor on March 23, Iraq …