The COVID-19-induced shortage in key oil investments could spell trouble for the entire industry for years to come. Thirty-five percent: this is the size of the spending cuts oil and gas companies are likely to have made this year in response to the effects that the coronavirus pandemic is having …

Qatar Petroleum has announced a new gas/condensate discovery in the Luiperd prospect, located in Block 11B/12B, in the Outeniqua Basin, 175 kilometres off the southern coast of South Africa. This is the second significant discovery in Block 11B/12B, which is being explored by Qatar Petroleum and its partners, Total (operator), …

Aside from economic growth during a global pandemic, China appears to be also projecting an increase in natural gas demand this winter while other major Asian powers’ gas demand is either expected to remain flat or increase only incrementally. On Thursday, the country’s three state-run oil majors said that China’s …

As Russia’s relationship with the West reaches a new low, the world’s largest country is now looking East to diversify gas exports to Asian markets. Addressing the plenary session of the 12th VTB Capital’s Russia Calling! Investment Forum via video conference, Russian President Vladimir Putin reaffirmed Russia’s intention to boost …

Iran’s Deputy Minister of Industry, Mine and Trade Hamid Zadboum said the country is considering to increase export of non-oil products by 15% in the second half of the current Iranian calendar year (September 22, 2020 -March 20, 2021). “Although spread of the coronavirus disease has decreased global trade almost …

Iran and Russia have renewed agreement on construction of Sirik power plant in southern Iranian province of Hormuzgan, Iran’s Ministry of Energy said on Saturday. The project will become operational soon after approval of a loan from Russia, director of power plant projects in Iran Behnam Khaefinejad has said. As …

Total trimmed its 2020 investment target on Friday after a sharp drop in third-quarter net profit, though the French oil and gas producer maintained its dividend. The company cut its investment target to $13 billion from $14bn and said it was keeping a lid on operating costs too, even as …

Iraqi oil minister Ihsan Ismaael has denied a Reuters report that said Iraq wants to seek an exemption from OPEC+ output cuts in 2021, calling the report “baseless” and reaffirming the country’s support for the curbs agreed in April. “Iraq welcomed the production adjustment decision reached in April 2020 by …

The Kurdistan Region Government in Iraq declared a halt to all oil exports on Friday after experiencing an attack on a crude oil pipeline earlier in the week. The pipeline suffered an attack on Wednesday, disrupting the flow of crude. The KRG-controlled area of Iraq manages oil exports through the …

OPEC oil output has risen for a fourth month in October, a Reuters survey found, as a restart of more Libyan installations and higher Iraqi exports offset full adherence by other members to an OPEC-led supply cut deal. The 13-member Organization of the Petroleum Exporting Countries has pumped 24.59 million …