OPEC+, a group of 24 OPEC and non-OPEC oil producers, announced sharp output cuts Wednesday in a bid to facilitate the recovery of crude prices. The move comes despite calls from Washington to raise oil production to prop up the global economy. Saudi Arabia, the key OPEC member and the …

Qatargas, a liquefied natural gas (LNG) production unit of state-owned QatarEnergy, has delivered a commissioning LNG cargo to China’s newest LNG terminal, the Jiangsu-Binhai LNG terminal, owned and operated by China National Offshore Oil Corporation (CNOOC). The cargo was loaded in Ras Laffan on 10 September on the 216,000 cubic …

The Iranian deputy oil minister says Russia’s state-run oil company Gazprom is going to develop six oilfields and two gas fields in the Islamic Republic. Ahmad Assadzadeh added that Iranian and Russian officials have agreed during talks in Moscow to fast-track plans to finalize deals to this end. Assadzadeh expressed …

A senior official at the Trade Promotion Organization (TPO) of Iran has announced expansion of cooperation in holding exhibition between Tehran and Moscow. Rahmatollah Khormali, director of department of Central Asia, Russia and Caucasus at TPO, made the remarks in a meeting held in Moscow with the managing director of …

Iran and Kazakhstan agreed on a unified tariff rate and 5 million tons of freight transit. On the sidelines of the first ministerial meeting on transit cooperation in Tehran, Iran’s minister of Roads and Urban Development, Rostam Ghasemi, and Kazakhstan’s Minister of Industry and Infrastructural Development, Uskenbayev Kairbek Aitbayevich, met …

Iranian Minister of Industry, Mine and Trade put the country’s exports value at 24 percent growth in the first five months of the current Iranian calendar year in 1401 (from March 21 to August 23). Speaking on the sidelines of his visit to the northern province of Mazandaran on Friday, …

The trade and transit of commodities between the Central Asian countries and Iranian northeastern province of Razavi Khorasan have increased by 40 percent as a result of positive steps taken by the Raisi administration. Iranian Ambassador to Turkmenistan Gholam-Abbas Arabab-Khales told IRNA that official statistics indicate that trade exchanges between …

Germany is entering a dark winter with too much natural gas consumption and may be unable to avoid an energy “emergency” in the months ahead, the head of the country’s network regulator warned Thursday, according to WaPo. “Gas consumption increased by too much last week,” said Klaus Mueller, head of …

Over the past year, energy companies have been steadily planning for the development of battery storage facilities, to support their renewable energy operations. But with the shift to green, the need for immediate investment in battery storage is clearer now than ever. With several developments planned for the next year …

China’s power generation capacity has increased by more than 70 percent compared to 2012, including a 700 percent increase in clean energy generators, according to a National Bureau of Statistics report on the green and low-carbon transition of the energy sector in the past decade. In 2021, China generated 8.5 …