The vessel approved to carry out pipe-laying for the unfinished Nord Stream 2 gas pipeline from Russia to Germany has begun preparatory works at the site in Danish waters, a spokesman for the development company said Jan. 25. The Fortuna arrived at the site of the pipeline to the south …

Tehran has dismissed allegations that an Iranian-flagged oil tanker has been seized for illegally transferring oil, despite Indonesian authorities claiming the ship was “caught red-handed.” Speaking on Monday, Iranian Foreign Ministry spokesman Saeed Khatibzadeh said they were still waiting for more information from the Indonesian government but claimed a senior …

Saudi Arabia is planning to introduce new ways of oil and gas exploitation, Minister of Energy Prince Abdulaziz bin Salman said, during a ceremony to launch the energy ministry’s new identity today, Jan. 25. The Kingdom is working under the hydrocarbon demand sustainability program, seeking to replace oil petroleum liquids …

Iran’s First Vice-President Es’haq Jahangiri said the country’s oil, gas, and petrochemical industries have nullified the US sanctions, noting that the oil ministry has managed to implement huge projects. “Iran’s oil, gas and petrochemical industries have thwarted the American sanctions,” Jahangiri said on the sidelines of the 25th International Oil, …

Oil in New York inched higher as the dollar weakened, with investors assessing the impact of supply curbs from Iraq and Libya on the near-term demand outlook. Futures rose 0.6% toward $53 a barrel as a weaker dollar increased the appeal of commodities like oil that are priced in the …

Deputy Minister of Oil for Refining and Distribution Affairs Alireza Sadeghabadi said on Monday that the Persian Gulf Star refinery is effective to make Iran self-reliant for gasoline output and helped Iran boost export of oil derivatives as well. “Currently, an average of 48 million liters of gasoline and 17 …

Global electric vehicle sales grew by 43% during 2020, and in some markets such as Norway or the Netherlands sales outnumber petrol and diesel cars. In Europe overall, electric sales during 2020 exceeded half a million units, while in the United States, the new Biden administration is considering incentives to …

Venezuelan President Nicolas Maduro on Saturday expressed willingness to “turn the page” with the U.S., following the presidency change, especially to revive the sanctions-hit oil industry. Maduro’s desire is that the two nations can reach a “new path” after years of tension between the Maduro government and the Trump administration. …

Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude. OPEC’s second-biggest producer will pump around 3.6 million barrels daily for the two months, according to Ali Nizar, the deputy …

With a stroke of his pen last Wednesday, Iraq’s President Barham Salih approved the parliament’s September vote to accede to the Paris Agreement, an international treaty to combat global warming. As one of the last of the 197 signatory countries to ratify the deal, the move signifies Baghdad’s intent to …