Official statistics have shown that Libya’s oil and gas revenues decreased by 92 per cent last year, as the blockade imposed for months on oil facilities caused the suspension of most export operations. The Central Bank of Libya announced that the revenues of the year 2020 were estimated at 2.9 …

Saudi Arabia, the world’s biggest oil exporter, beat Russia to keep its ranking as China’s top crude supplier in 2020, Chinese government data showed on Wednesday. Oil demand in China, the world’s top oil importer, remained strong last year even as the coronavirus crisis hammered global appetite. Chinese imports rose …

Antony Blinken, Joe Biden’s Secretary of State nominee, said on Tuesday that the new government will use every persuasive tool to stop the construction of the Nord Stream 2 gas pipeline. The statement triggered debate over why Biden’s administration, which voiced multiple times it would repair tattered transatlantic ties, persists …

Production of gas condensate has increased in phases 6, 7 and 8 of the South Pars Gas Field- the world’s largest gas field in southern Iran, a state official announced on Saturday. Behzad Salari, head of plant production (4th gas plant) at South Pars gas company, made the remarks while …

Libya is seeking funding from foreign oil companies to fix its ailing infrastructure after years of war and neglect, the nation’s top energy official said. The state-owned National Oil Corp. was forced to shut down a leaking pipeline on Saturday, which cut the OPEC member’s crude production by around 200,000 …

Russia pumped 59.2 billion cubic meters of natural gas through the Nord Stream pipeline in 2020, bringing exports via the offshore gas link between Russia and Europe to the highest level ever. Last year’s supplies to European consumers were up 1.2 percent compared to a year earlier, according to data …

Bijan Namdar Zanganeh, Iran’s oil minister, said on Friday that the Islamic Republic did not allow the Trump administration to decrease Iranian oil export to zero. In separate remarks on Thursday, Zanganeh also said, “Trump thought we die due to the sanctions, but we did not, they are knocked down.” …

Iraq’s economy shrank by 11.2 per cent last year – the country’s worst performance since 2003 – as it dealt with the twin shocks of low oil prices and the Covid-19 pandemic, according to the Institute of International Finance. These two factors, combined with ongoing political instability in the country, …

Initial steps taken by U.S. President Joe Biden’s administration may help support the oil market this year and next, according to Goldman Sachs Group Inc. A focus on fiscal spending, a probable lack of urgency in lifting sanctions on Iran and restrictions on the North American energy industry all combine …

The Nord Stream 2 project will be completed, despite the difficulties it has encountered, Chairman of the State Duma (parliament’s lower house) Committee on Energy Pavel Zavalny said at a press conference on Friday. “Nord Stream 2 will definitely be built, all sensible people understand this. Ambitions of individual countries, …