An official with the National Iranian Oil Company (NIOC) revealed that Phase 11 of the South Pars Gas Field is expected to generate 14 million cubic meters of gas per day by the end of current Persian calendar year (March 20, 2023). According to IRNA, Karim Zobeidi, NIOC’s director of …

The European Union has proposed a revision to its Russia oil sanctions ban that would give Hungary and Slovakia an extra year, until the end of 2024, to comply, according to people familiar with the matter. The Czech Republic would also be granted an exemption until June 2024, the people …

OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook due to new Covid-19 lockdowns in China. Delegates from the group said OPEC+ was set to agree another monthly increase of …

The Russian invasion of Ukraine has put the European energy and climate policies through their most difficult test so far. The spike in energy prices aggravated by the slow pace of energy transition in Europe and the excessive reliance on Russian fossil fuel imports have demonstrated the need for a …

The general director of the state corporation Rosatom, Alexei Likhachyov, and his counterpart from the International Atomic Energy Agency (IAEA), Rafael Grossi, met in Istanbul on Wednesday to discuss in detail, among other things, the safety at Ukraine’s nuclear power plants (NPPs), Rosatom stated. The pair paid special attention to …

OPEC+ members meeting on Thursday are expected to agree a marginal increase in oil production, bolstered by risks to demand amid coronavirus restrictions in China. Russia’s invasion of Ukraine has also added to supply concerns, which have increased with Europe’s announced moves on a potential Russian oil embargo. Prices soared …

Italian Prime Minister Mario Draghi recalled the importance of boosting the industrial partnership between Italy and Japan, particularly in the renewable energies sector, at a press conference at Palazzo Chigi after a bilateral meeting with the Japanese Prime Minister Fumio Kishida. In an attempt to curb energy reliance from Moscow …

The European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia and target the country’s biggest bank and major broadcasters in a sixth package of sanctions over the war in Ukraine. European Commission President Ursula von der Leyen, addressing the European Parliament in …

The European Union’s proposed phased embargo of Russian oil, as part of a new round of sanctions against Moscow for its invasion of Ukraine, means Russia will inevitably look to Asia, one analyst said on Wednesday. The EU proposed its toughest sanctions yet against Russia on Wednesday, including a phased …

A refinery owned by French supermajor TotalEnergies in Germany is expected to continue importing Russian crude oil via pipeline at least through the end of this month, sources familiar with the matter told Reuters on Tuesday. The 240,000-barrels-per-day refinery Leuna in eastern Germany is one of two facilities in Germany …