Oil Minister, Ihssan Abdul-Jabbar confirmed on Sunday Iraq’s endeavors to build oil depots in Pakistan and China, indicating that 70% of Iraq’s oil exports go to the east. Abdul-Jabbar said in an interview with Shafaq News Agency, “Iraq seeks to build oil depots in Pakistan and China,” noting, “there is …

Iran has continued its push toward retaining the oil market share as the country added more barrels to its daily production in January compared to the previous month, data published by OPEC showed. Iran’s crude oil output averaged 2.08 million barrels per day last month, an increase of 62,000 bpd …

Over 50 percent of the energy generated by a 759 megawatt windfarm under development 18.5 kilometers west of the coastal town of Egmond aan Zee will be used by Amazon. Shell and Eneco are constructing the wind farm in the Hollandse Kust (noord) development area with a target of being …

The US administration is continuing to monitor the implementation of the Nord Stream 2 gas pipeline project US Department of State Spokesperson Ned Price said at a briefing for reporters on Friday. He added that unilateral sanctions are only one of among many important tools Washington has. “We are continuing …

The world’s top oil importer, China, could be just years away from its own peak in domestic demand for oil products, Chinese refiners have started to warn, but consumer preferences and government policies about transport electrification and support for EVs are likely to determine whether Chinese domestic oil consumption will …

The International Energy Agency warned on Thursday the world oil market remains fragile, despite a recent recovery in prices, as tighter restrictions are imposed to curb more contagious coronavirus variants. At the same time, the IEA said the economic outlook was brighter overall, especially in the second half of this …

Iran continues its march toward retaining the oil market share as the country added more barrels to its daily production in January compared to the previous month, data published by OPEC showed. Iran’s crude oil output averaged 2.08 million barrels per day last month, an increase of 62,000 bpd from …

Russian energy giant Rosneft on Friday reported an almost 80% fall in 2020 net income as the pandemic hit demand for fuel. Rosneft, in which BP owns a 19.75% stake, said its net income fell to 147 billion roubles, or $2.2 billion.

Qatar’s move to sanction the $28.7bn North Field Expansion project puts the country on track to return as the world’s largest LNG producer by 2030, the Oslo, Norway-based Rystad Energy has said in a report. Qatar’s liquefaction capacity will rise to 110mn tonnes per year (tpy), or 18% of the …

The re-balancing of global oil markets remains “fragile” amid weaker estimates for demand and a recovery in supplies, the International Energy Agency said. The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted …