The European Union and the US have announced the Global Methane Pledge, an initiative to reduce global methane emissions to be launched at the UN Climate Change Conference (COP 26) in November in Glasgow. President Biden and European Commission President Ursula von der Leyen urged countries at the US-led Major …

Spokesman for Islamic Republic of Iran Custom Administration (IRICA) said that $5 billion worth of non-oil goods was exchanged between Iran and Economic Cooperation Organization (ECO) member states from Mar. 21 to Aug. 21. About eight million tons of non-oil goods, valued at $5 billion, were exchanged between the Islamic …

OPEC and its allies will try to keep oil prices at $70 per barrel in the first quarter of 2022, Iraq’s oil minister said, adding the group is expected to stick to its current production accord when it meet in October “if prices remain stable”. Iraq total oil exports, including …

Europe is bracing for a tough winter as an energy crisis that’s been years in the making leaves the continent relying on the vagaries of the weather. Faced with surging gas and electricity prices, countries from the UK to Germany will need to count on mild temperatures to get through …

OPEC has announced that its secretary general, Mohammad Sanusi Barkindo, has visited the Bolivarian Republic of Venezuela at the invitation of its government to celebrate OPEC’s 61st anniversary. The four-day visit to the country has included meetings with Nicolas Maduro, President of Venezuela, Tareck El Aissami, the people’s minister of …

Iran’s exports of fuel and petrochemical exports have surged in recent years as the re-imposition of the U.S. sanctions on the country’s oil industry curbed crude sales, the Daily Star reported. The situation has left Iran in a good position to be able to expand trade in Asia and Europe …

Europe’s power crisis was just a matter of time – and that time has come. Natural gas and electricity prices are setting record highs virtually every day, and businesses and households have gone from getting annoyed to being terrified as the bills land like hand grenades. The continent’s power system …

U.S. imports of crude oil from Iraq averaged 56,000 barrels per day (bpd) last week, the Energy Information Administration (EIA) said on Sunday, amid a drop in its appetite during the same period. In its weekly report on U.S. oil imports, EIA Said that the U.S. imports averaged 4.88 million …

Saudi Basic Industries Corp., majority owned by Saudi Aramco, said Sept. 19 that its petrochemical joint venture with ExxonMobil near Corpus Christi, Texas, started commissioning ahead of its expected fourth-quarter start-up. The Sept. 19 confirmation follows a tour of the facility in August when the plant manager, Paul Fritsch, said …

Oil declined amid Russia’s plans to boost upcoming overseas oil sales and as the US dollar rallied. Futures in New York ended the session nearly 1 percent lower on Friday. Russia is to increase its oil exports 3 percent in the fourth quarter of this year, Interfax reported. Meanwhile, gains …