The International Monetary Fund (IMF) believes that Iraq needs to sell oil at a price of $75.8 per barrel to achieve budget equilibrium and avoid deficit. A table presented by the Fund indicated that the balance in Iraq’s budget for 2023 will be achieved if the oil is sold at …

Europe rushed to secure liquefied natural gas in an effort to ease a crippling energy crisis. Now, there’s a chance its plans to build more import terminals for the fuel have gone too far. From France to Poland, the region is looking to build LNG infrastructure, after Russia severely curtailed …

French giant TotalEnergies is set to kick start promised multi-billion dollar oil, gas and renewables investments in Iraq by finalising key contracts with state-owned Basrah Oil Company. Basim Mohammed, Iraq’s deputy oil minister for upstream affairs, said the two players “are now in the process of finalising some contractual procedures …

The start of a much-delayed nuclear plant in Finland has helped bring down electricity prices by more than 75 per cent in the Nordic country, chief executive of Finland’s national grid operator Fingrid has said. The Olkiluoto 3 (OL3), Europe’s first new nuclear plant in 16 years, began operating in …

More than 200 Foreign companies from 13 countries are going to participate in the 27th Iran International Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show 2023), which is slated to be held at the Tehran Permanent International Fairgrounds during May 17-20. According to the Director General of the Iranian …

The Group of Seven (G7) and EU countries intend to ban the import of pipeline gas on routes where Moscow has previously cut supplies as part of the 11th package of sanctions against Russia. Azernews reports that the ‘Financial Times’ newspaper has published information about this with reference to the …

The Iraqi Oil Minister, Hayan Abdul-Ghani, stated that Iraq wants to resume oil exports from the Kurdistan region of Iraq to the Turkish port of Ceyhan, starting from Saturday, but it is waiting for Turkey’s approval, Reuters reported. Experts say that Turkey’s presidential elections taking place on Sunday might postpone …

The float-over installation of the topsides of a 15,000-tonne offshore drilling platform was completed on Saturday using a jacket platform, the steel frame supporting the topsides, in south China’s Guangdong Province, according to the China National Offshore Oil Corporation (CNOOC). The Enping 20-4 platform in Enping oilfield, located in the …

Governments worldwide are encouraging private companies to move away from fossil fuels and invest heavily in green energy and related technologies. In doing so, they are also trying to expand the consumer market, pushing the public to accept a movement away from fossil fuels, such as the natural gas used …

Private US nuclear fusion company Helion Energy will provide Microsoft (MSFT.O) with electricity in about five years, the companies said on Wednesday, in the first such deal for the power source that fuels the sun but has been elusive on Earth. Government labs and more than 30 companies are racing …