India, the world’s third-biggest oil importer, has significantly reduced its imports from the Middle East as part of a drive to diversify crude sources. The share of Middle Eastern crude in India’s oil imports fell to a 25-month low in May, tanker data provided by trade sources showed, as refiners …

The Iraqi state-owned Oil Marketer, SOMO, said on Sunday that the Chinese oil companies were the top buyers of Iraqi oil in May. In an official chart published on its official website, SOMO said that Chinese importers of Iraqi oil were eight, the most among 32 companies. Indian and U.S. …

Iran’s Ambassador and Permanent Representative to the Vienna-based International Organizations Kazzem Qaribabadi said that Iran agreed with the International Atomic Energy Agency’s demand to keep the data recorded by the IAEA’s cameras out of good will and not as an obligation. Qaribabadi was speaking in a televised program on Saturday …

The United States and Germany want to compensate Ukraine for losses after the launch of the Nord Stream 2 gas pipeline, Bloomberg reports citing sources. The agreement, which some officials hope to have ready for Chancellor Angela Merkel’s visit to Washington next month, could see the countries commit to bolstering …

With oil prices rising to levels not seen in over two years, US shale, bouncing off one of its worst-ever years, could be looking at record profits in 2021. Oil execs and producers are historically pretty good at making money. Oil is a roller coaster of an economic sector, based …

The U.K. continues to stand by its oil and gas commitments even following this month’s G7 climate change conference in Cornwall, international pressure to move away from fossil fuels, and the ceasing of operations by other North Sea states. Energy minister Anne-Marie Trevelyan stated this week that the U.K will …

The US Energy Information Administration (EIA) said on Saturday that Iraqi crude oil exports to the US declined to 155,000 barrels per day (bpd) during the past week. According to a report released by the EIA, “The United States imported crude oil from Iraq at a rate of 155,000 bpd, …

The head of the Atomic Energy Organization of Iran said Sunday the country has the capability to add 8,000 MWs of electricity to the national grid while adding that the only nuclear power plant in Bushehr needs finances. Ali Akbar Salehi, the head of the Atomic Energy Organization of Iran …

China’s CNOOC this week started production from the first deepwater gas field it operates fully, Reuters has reported, adding that the field is expected to yield some 4.39 billion cubic meters of natural gas, representing 2 percent of China’s total output. The Chenhai-1 well was drilled at the Lingshui 17-2 …

The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won’t require it to sell less oil. The country is considering a 2050 target to …