Foreign Policy Commission Spokesman Abolfazl Amouei said that the extension of the agreement between Iran and the IAEA must gain approval of Iranian governing bodies. “According to Strategic Action Plan to Counter Sanctions, the agreement between Iran and the International Atomic Energy Agency to lift sanctions is subject to a …

The Organisation of the Petroleum Exporting Countries (OPEC) says its compliance with the OPEC+ oil production cuts deal totalled 122 per cent in April, as production averaged 25.08 million barrels per day. In March, OPEC’s compliance with the production cuts deal was 124 per cent, at 25.04 million barrels per …

Shell Offshore, a subsidiary of supermajor Shell, has made a ‘significant’ oil discovery in the deepwater region of the U.S. Gulf of Mexico. Shell said on Tuesday that it made a discovery of more than 600 feet (183 meters) net oil pay at multiple levels at the Leopard prospect. The …

At least two of China’s smaller liquefied natural gas (LNG) importers have been told to avoid buying new cargoes from Australia, a further example of the impact on trade from souring ties between the two countries. The firms have received verbal orders from government officials to avoid purchasing additional LNG …

North America’s biggest petroleum pipeline is in a race against time to overcome a cyberattack that’s frozen fuel shipments before regional reserves of gasoline, diesel and jet fuel run dry. Colonial Pipeline said segments of its Texas-to-New Jersey line are being brought back online in steps, and substantially all service …

An Iranian knowledge-based company produced an oil-based ozone generator to prevent the country from importing this device. Chief executive officer of the Iranian knowledge-based company, Shadi Azizi Ha said Iran produced a type of oil-based ozone generator that has much higher efficiency. Referring to the importance and usage of this …

The South Korean Government has announced plans to build a 6GW floating offshore wind farm off the coast of Ulsan by 2030. President Moon Jae-in said that the project would require a KRW36tn ($32.8bn) investment and would create 210,000 jobs in the region. The wind facility is planned for the …

Kuwait’s national oil company has said it is battling a blaze at one of its operational sites in the Burgan oilfield, the second largest in the world. The company says there has been no impact on oil production. In a statement on Monday cited by state-run media, Kuwait Oil Company …

France and Russia’s EDF Group and Rosatom recently announced the signing of an agreement for nuclear hydrogen production. The purpose is to promote clean H2 projects taking place in both Russia and in Europe. According to Rosatom, developing H2 technologies will play an integral role in the Paris Agreement’s implementation. …

Beginning of the fourth round of talks in Vienna to revive the JCPOA and multilateral attempts to reach a win-win agreement as soon as possible has caught eyes in global oil market, making OPEC Plus ministers closely watch developments in Vienna, Iran Newspaper wrote in a report on Monday. Analysts …