Libya’s Oil and Gas Minister Mohammed Oun has said that oil production in the county is now down to 100.000 barrels per day (bpd) from 1.2 million bpd, according to Stephen Innes, managing partner at SPI Asset Management, who was reported by Reuters. Innes said discussion within the oil complex …

Iraq’s Ministry of Electricity says it will settle its debts for 2020 gas purchases from Iran “within two days,” as part of measures to avoid a halt in the flow of much-needed gas into the Arab country. In a statement carried by the Iraqi News Agency on Tuesday, Ahmed Musa, …

China’s first self-developed subsea Xmas tree system has successfully been put into operation in the South China Sea on Tuesday, a key breakthrough in China’s domestic technical equipment for deepwater oil and gas development, China National Offshore Oil Corporation (CNOOC) said on Tuesday. The tree system is believed to be …

World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy. Fuel use has rebounded from the 2020 pandemic-induced slump and is set to exceed 2019 levels this …

The 1,500MW solar steam facility, to be developed at MA’ADEN’s Alumina refinery, aims to help MA’ADEN achieve sustainability goals by reducing carbon emissions by over 600,000 tons annually. This represents more than a 50 per cent carbon footprint reduction in MA’ADEN’s Alumina refinery and four per cent of MA’ADEN’s overall …

Iranian flag oil tanker carrying about one million barrels of crude oil entered Venezuelan waters, Reuters reported. The Reuters news agency reported based on a shipping document on Monday that the third oil cargo from Naftiran Intertrade Company limited (NICO) is being delivered to Petróleos de Venezuela, S.A. (PDVSA), a …

Turkey will start transferring 10 million cubic meters (mcm) of natural gas daily from the Sakarya Gas Field in the Black Sea to the national transmission system in the first quarter of 2023, the country’s president said on Monday. The production in Sakarya Gas Field will “hopefully reach its peak …

The U.S. crude imports from Iraq averaged 196 thousand barrels per day (bpd) last week, the Energy Information Administration (EIA) said this weekend. In its weekly report on U.S. oil imports, EIA said that the U.S. net oil imports averaged 5.497 million bpd last week, down by 64 thousand bpd …

Russia has earned $98bn from fossil fuel exports during the first 100 days of its war in Ukraine, with the European Union being the top importer, according to new research. The report was published on Monday the independent, Finland-based Centre for Research on Energy and Clean Air (CREA) came as …

Russia rose to become India’s second biggest supplier of oil in May, pushing Saudi Arabia into third place but still behind Iraq which remains No. 1, data from trade sources showed. In May Indian refiners received about 819,000 barrels per day (bpd) Russian oil, the highest thus far in any …