Germany has said the Nord Stream 2 gas pipeline from Russia will not be allowed to operate in the event of any new “escalation” in Ukraine, under an agreement between Berlin and Washington. “In the event of further escalation this gas pipeline could not come into service,” Germany’s new Foreign …

Iran’s IRNA News Agency says under the country’s budget bill for the next fiscal year starting March 21, 2022, oil exports will be estimated at 1.2 million barrels per day. The amount of oil exports in the budget bill is one of the most important figures. Therefore, every year, with …

The first oil from President Joe Biden’s release from the country’s emergency crude reserves is being granted to Exxon Mobil Corp. The company will receive 4.8 million barrels of oil from the Strategic Petroleum Reserve as part of an exchange, the Department of Energy said Friday on its website. Delivery …

Iraq’s Ministry of Electricity has expressed willingness for increasing natural gas imports from Iran, IRNA reported on Sunday quoting the ministry spokesperson Ahmed Mousa as saying. Mousa noted that the ministry is negotiating the increase with Iranian authorities and will dispatch a delegation to Tehran in this regard. He did …

Iranian Energy Minister Ali-Akbar Mehrabian has said the country is currently able to exchange electricity with Afghanistan, Iraq, Azerbaijan, Turkmenistan, Armenia, and Turkey, IRNA reported. As reported, developing energy diplomacy and exchange of electricity with the neighboring countries has been among the top priorities of the energy minister and in …

Higher Saudi prices for January, lower overall demand for crude amid the Omicron uncertainty, the Chinese crackdown on illicit practices at its independent refiners, and refinery maintenance season starting in late Q1 2022 have resulted in Asian refiners abstaining from extra Saudi crude supply for loading in January. Refiners in …

Saudi Arabia and Kuwait confirmed that they are working to increase production from the Khafji and Wafra joint operations, Saudi Press Agency reported, citing a joint statement. The two parties agreed to implement the memorandum of understanding (MoU) on the neutral zone and the adjacent submerged zone, the statement added …

The U.S. Department of Energy said on Friday it will sell 18 million barrels of crude oil from its strategic petroleum reserve (SPR) on Dec. 17, as part of a previous plan to try to reduce gasoline prices. The Biden administration announced last month it would release about 50 million …

Russia covers over 40% of Greece’s demand for natural gas and has even increased gas supplies recently, Kremlin Spokesman Dmitry Peskov said in an English-language interview with Greece’s Antenna TV channel. “Do you know how many percent of Greece’s demand for natural gas is being covered by Russia?” Peskov said, …

Saudi Arabia will supply full contracted oil volumes to most of its buyers in Asia, Reuters has reported, citing unnamed sources familiar with the Kingdom’s moves. This will be the fourth month in a row during which Saudi Arabia has supplied full volumes, which suggests that crude oil supply is …