On July 18, OPEC+, which includes most members of OPEC and several non-OPEC members (including Russia), agreed to increase monthly crude oil production starting in August 2021. On July 19, after the new OPEC+ agreement was made public, the price of Brent crude oil fell 7% from the previous day …

Senate Foreign Relations Committee Head Bob Menendez and lawmakers from the UK, Ireland, Latvia, Lithuania, Poland, Ukraine, Czechia and Estonia have signed the statement criticizing the American-Germany agreement on the Nord Stream 2 gas pipeline as Voice of America reported. “We consider the Nord Stream 2 to be a geopolitical …

Car manufacturing group and pioneer in the European EV market, Renault Group, and Australian-German geothermal lithium developer Vulcan Energy Resources, announce having signed a lithium offtake term sheet. This agreement is for an initial five-year term which can be extended if mutually agreed, with a start of commercial delivery set …

Oil company BP swung to profit in the second quarter amid higher oil prices and a broader recovery in the global economy this year after posting a loss in the same period a year earlier. The company earned $3.1 billion in the three months to the end of June, compared …

Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammed Barkindo is to attend inauguration ceremony of Iranian President-elect Ebrahim Raisi, Iran ambassador to Nigeria said. Mohammad Alibak in a Twitter message referred to his constructive and friendly meeting with Mohammed Barkindo. He noted that Barkindo has appreciated …

Iranian Foreign Ministry spokesman Saeed Khatibazdeh has responded to allegations by U.S. and UK top diplomats against Iran about last week’s attack on an Israeli oil tanker off the coast of Oman. In a statement on Monday, Khatibzadeh said the statements issued by U.S. and UK top diplomats contain “contradictory” …

The Iranian Ministry of Petroleum has inaugurated three new gas projects, according to news service Shana. These are the offshore portion of Phase 27 of the South Pars gas field development in the Persian Gulf; two offshore portions of South Pars Phase 14; and the first phase of the Siraf …

Foreign sales of Russian crude dropped 8% in the first seven months of 2021 compared to the same period a year ago, according to the latest report by the Russian Energy Agency. The country exported 129.104 million tons of crude oil between January and July of 2021. Meanwhile, foreign shipments …

China’s largest offshore oil producer China National Offshore Oil Corp (CNOOC) on Monday announced that Liuhua 16-2 oilfield cluster, China’s first independent deepwater oil and gas project, is now in full-throttle production in the South China Sea. CNOOC hailed the new progress at Liuhua 16-2 oilfield cluster as another major …

The head of the Atomic Energy Organization of Iran (AEOI), Ali Akbar Salehi, stressed that the Iranian nuclear achievements are unique. Attending the opening of the Oil Ministry and the Atomic Energy Organization (AEOI) projects, Ali Akbar Salehi noted that the Atomic Energy Organization of Iran proved that it had …