OPEC’s second-largest oil producer, Iraq, aims to accelerate solar power development with at least 1,000 small-sized projects over the next three years, a senior government official has said. “Solar energy will be an essential part of the national energy mix by 2030,” Mazhar Mohammed Salih, advisor to the Iraqi Prime …

The OPEC+ group must consider rising oil demand when it makes decisions about production levels, the energy minister of one of OPEC’s top producers, the United Arab Emirates (UAE), said on Tuesday. The OPEC+ alliance is doing its best to balance the oil market, UAE’s Energy Minister Suhail Mohamed Al …

Iraq has filed a lawsuit against the United States over oil contracts between American companies and the Kurdistan Regional Government (KRG) in northern Iraq, escalating a constitutional dispute that has long threatened to destabilize the country’s energy sector, Reuters reported. According to Iraqi media, the lawsuit was filed on Monday …

Europe’s benchmark natural gas prices rose early on Monday following an unplanned cut to capacity of the giant Troll gas field in Norway, the single largest supplier of gas to Europe. Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, jumped by 2.2% at trade open in Amsterdam …

Saudi Arabia and Kuwait have announced a new oil discovery in the so-called Partitioned Zone (PZ) between the two OPEC heavyweights which share equally output from the area. Saudi Arabia and Kuwait announced on Monday that Wafra Joint Operations had made a new oil discovery in the North Wafra Wara-Burgan …

Saudi Aramco is reportedly exploring asset sales as a means of increasing the availability of funds to fuel its international expansion and existing operations, according to unnamed sources who spoke to Reuters. The sources told the publication that the Saudi state major had asked investment banks to come up with …

Russian military vessels are escorting oil tankers traversing the Gulf of Finland, Finland’s defense minister told media this weekend, saying this was “a completely new development.” The news follows an attempt last week by the Estonian navy to stop a tanker carrying Russian oil, which prompted the appearance of a …

Despite oil trading low at $60, OPEC+ this week is expected to continue to further open the taps. This follows pressure from US President Donald Trump and group leader Saudi Arabia’s quest to penalise allies that breach the cartel’s quotas. In past months, Saudi Arabia, Russia and six other OPEC+ …

The European Commission is already preparing its 18th package of sanctions against Russia, which will disconnect about 20 banks from the SWIFT payment system and impose trade bans exceeding €2.5B in value. The EU also intends to impose sanctions on the Nord Stream gas pipeline projects for the first time. …

Iraq ranked fourth among the top oil exporters to China in April 2025, China’s General Administration of Customs revealed on Sunday. The Administration noted that Iraq exported approximately 4.59 million metric tons of crude oil to China last month—equivalent to about 29.32 million barrels. Russia topped the list of oil-exporting …