The emergence of the new round of restrictions caused by COVID-19 in Europe, and signs of economic weakness in some other countries including the US, have prompted Wood Mackenzie’s analysts to revise down their forecasts for world oil consumption in the last quarter of 2020 and the first of 2021, …

Competition from record-low natural gas prices and reduced power demand in the lockdown in the spring sent coal consumption in the U.S. power sector down by 30 percent in the first half of 2020 compared to the same period last year, the U.S. Energy Information Administration (EIA) said on Friday. …

The drilling operation on Phase 11 of South Pars Gas Field in southern Iran began on Saturday, an official reported. Mohsen Rezaei, the caretaker of the development project of Phase 11 of South Pars Field, said that the project aims to excavate about one billion cubic feet of gas from …

Russia and OPEC-kingpin Saudi Arabia are reportedly mulling to delay an increase in oil production in January, maintaining an output cut aimed to raise oil prices as demand has weakened due the coronavirus pandemic. Russia and the Organization of Petroleum Exporting Countries held their annual talks on November 2 with …

China plans to further increase oil and gas exploration and accelerate the construction of more oil and gas storage infrastructure, state news agency Xinhua reported. Last week, China’s Communist Party adopted the principles of the five-year development plan 2021-2025. China will also aim to build more oil and gas pipelines, …

The United States formally exited the Paris Agreement on Wednesday, fulfilling a longstanding promise by US President Donald Trump to withdraw the world’s second-largest greenhouse gas emitter from the global pact to fight climate change. But the outcome of the tight US election contest will determine for how long this …

Three members of OPEC and Russia are in favor of an extension of the current oil production cuts agreed by OPEC+ in April this year, Iraqi news agency Shafaq has reported, citing Algeria’s Energy Minister, Abdelmadjid Attar. According to the report, Attar said the oil market was facing a perilous …

Oman’s Sohar Port and Freezone, a deep-sea port and adjacent free zone located in the homonymous coastal city, is planning to host a large scale green hydrogen generation hub powered by solar power plants. According to the whitepaper SOHAR Port and Freezone Going Green, published by the port’s CEO, Mark …

Iran has shipped the second non-oil cargo to Oman via Sirik Port in southern Hormozgan province, Governor of Sirik County said on Wednesday. According to Ahmad Jamaleddini, the 610-ton consignment contains fresh fruits and vegetables, dried nuts and construction material with a collective value of 150 billion rials (Over $530 …

Japan will have to limp by on just one nuclear reactor for the next six weeks after Kansai Electric Power Co. shut down the No. 4 reactor at its Oi nuclear plant in Fukui Prefecture, western Japan, for regular maintenance on Nov. 3. That task will fall to the No. …