Russia’s Lukoil would be “happy” to return to talks on its Iranian oil projects, which were at an advanced stage, once US sanctions on the Middle Eastern country are lifted, CEO Vagit Alekperov said June 3. Lukoil was in talks with Iran to develop the Ab Teymour and Mansouri oil …

The European Commission and Bill Gates joined forces in an initiative that wants to mobilize as much as $1 billion investment in clean technologies such as green hydrogen and sustainable fuels. The Commission and Breakthrough Energy Catalyst, a program founded by Gates, want to muster the funding in 2022-2026 to …

The Organization of the Petroleum Exporting Countries oil cartel and allied producing countries (OPEC+) confirmed on Tuesday plans to gradually restore crude output by 2.1 million barrels per day (bpd). The decision was made in an online meeting earlier on Tuesday. Saudi Energy Minister Prince Abdulaziz bin Salman hailed a …

Iranian Energy Minister Reza Ardekanian has travelled to Russia to take part in the 24th edition of St. Petersburg International Economic Forum (SPIEF). Heading a delegation, the Iranian minister arrived in Moscow on Wednesday to attend the economic forum. Ardekanian is going to hold talks with his Russian counterpart to …

Testing work on Russia’s Nord Stream 2 gas pipeline to Germany will start next week, Alexander Drozdenko, governor of the Leningrad region where the pipeline starts, was cited as saying by the TASS news agency on Wednesday. The United States last month waived sanctions on the company behind the pipeline …

Oil exports from Russia in January – May 2021 fell by 13% compared to the same period last year to 91.2 mln tonnes, according to statistics released by the Central Dispatching Department of Fuel Energy Complex (CDU TEK) on Wednesday. Russia participates in the OPEC+ agreement on oil production cuts, …

The governments of Denmark, Norway, and the United States, along with the Global Maritime Forum and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, will lead a new Zero-Emission Shipping Mission as part of Mission Innovation. The mission aims to accelerate international public-private collaboration to scale and deploy new …

Iranian Oil Minister Bijan Namdar Zanganeh has said Iran is ready to return to the oil market as soon as the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) is revived and the U.S. sanctions are lifted, Shana reported. Zanganeh made the remarks after attending the 17th …

A UAE climate negotiation team, presided over by the Ministry of Climate Change and Environment, is participating in the virtual meetings of the parties to the United Nations Framework Convention on Climate Change (UNFCCC), launched on May 31 and continues until June 17. The meetings aim to pave the way …

Oil prices rose on Wednesday after oil cartel Opec and its allies stuck to their plan to cautiously return oil supply in June and July while expecting fuel demand to rebound strongly during the US summer. US West Texas Intermediate (WTI) crude futures rose 32c, or 0.5%, to $68.05 at …