The National Iranian Oil Company (NIOC) and Russia’s Gazprom signed a memorandum of understanding worth roughly 40 billion dollars. The document was signed during an online ceremony on Tuesday by NIOC CEO Mohsen Khojastehmehr and Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee. The development of Kish and North …

Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the US dollar to insulate itself from the effects of Western sanctions. Russia has been hit by a slew of sanctions from …

The German government said Monday that a turbine at the centre of uncertainty about future gas deliveries through a major pipeline from Russia to Europe was only supposed to be installed in September, underlining its insistence that there should be no technical obstacle to the gas flow. Meanwhile, Germany’s biggest …

Russian state-owned energy giant Gazprom has told European buyers it may not be able to continue sending gas because of “extraordinary circumstances,” according to an exclusive report by Reuters, raising fears that the ongoing annual maintenance of a key pipeline might extend beyond Thursday, the day it is expected to …

China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it started importing LNG, reported Wood Mackenzie. After solid growth in 2021, China’s gas and liquefied natural gas (LNG) demand is expected to slow down in 2022. China’s gas …

The European Commission has signed a memorandum of understanding with Azerbaijan to double imports of Azeri natural gas to at least 20 billion cubic metres a year by 2027. European Commission President Ursula von der Leyen and Azerbaijan’s President Ilham Aliyev signed a memorandum of understanding (MoU) on a strategic …

Gazprom has declared force majeure on gas supplies to Europe to at least one major customer, according to a letter from the Russian energy firm. Dated July 14, the legal force of the letter is to shield Gazprom from compensation payments for disrupted supplies. The letter said Gazprom, which has …

The ongoing growth in trade between the UAE and France underscores their strong economic partnership and deep-rooted relations, supported by their leadership. The visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to France also confirms the strength of the comprehensive strategic partnership between the two friendly countries. …

Europe needs to drastically slash natural gas consumption in the next few months to prepare for what is likely to be “a long, hard winter,” the head of the International Energy Agency said. While the European Union has made some progress diversifying away from key supplier Russia, any shipments from …

European natural gas prices jumped with a heat wave scorching the western half of the region, boosting demand for cooling and pushing energy costs higher. Temperatures in parts of the UK and France, including London and Paris, could rise to record levels Monday and Tuesday, according to forecaster Maxar. The …