Iraq’s Oil Minister Ihsan Abdul-Jabbar Ismail has said that the Iraqi National Oil Company (INOC) has opened a dialogue about gas exploration in the Western Desert in Anbar Governorate. The company involved was not named, but was described as “one of the major international companies”. The Minister said Iraq is …

Japan is focusing on its neighbors in Asia as it hopes to take a leadership role in the growing push to reduce emissions, having earmarked $10 billion to help the region speed up the move away from fossil fuels. The Economy and Industry Ministry hosted the first “Asia green growth …

European Union countries have enough gas in storage to go through the winter, but the surge in gas prices shows the need to quickly switch to renewable sources and analyse the idea of a strategic EU gas storage and joint buying, European Energy Commissioner Kadri Simson said. “Gas underground storage …

The start of operations by the Nord Stream 2 gas pipeline in the fourth quarter of this year could drive natural gas prices in Europe down to their lowest levels, Saxo Bank forecasts. On Monday, Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline, announced the …

Eni and BP are reportedly mulling to raise up to $2bn to fund their proposed oil and gas joint venture in Angola. In May 2021, the two firms started talks to merge their Angolan oil, gas and LNG assets in a new joint venture (JV) company to form one of …

The Kremlin won’t prejudge any outome of the coming regular video conference of the OPEC+ ministers, Kremlin spokesman Dmitry Peskov told reported on Monday. “Traditionally we would not like to prejudge any outcome of such a meeting,” he said responding to a relevant question. When asked if the Russian President …

Qatar Petroleum has ordered its first Chinese-built gas carriers, opting for four LNG carriers from Hudong-Zhonghua Shipbuilding in a deal worth approximately $770m. These four carriers are the first batch of orders in Qatar Petroleum’s massive LNG shipbuilding program, which will cater for future LNG fleet requirements for the North …

OPEC+ remains very much in control of the oil market as ministers gather for their monthly meeting. Crude is trading just below $80 a barrel in London, the highest in almost three years, and the cartel’s production policy will be the main factor influencing prices in the coming months, according …

The energy crunch in China has some obvious winners, with coal and liquefied natural gas (LNG) prices surging to record highs, but the outlook for other commodities is more mixed and dependent on how the crisis plays out. China’s officials have been scrambling in recent days to ensure that the …

The Organisation of Petroleum Exporting Countries (OPEC), saw a sharp decline in its global crude export in 2020, following disruptions occasioned by the COVID-19 pandemic. According to available data, OPEC member countries exported an average of 19.70 million barrels a day, mb/d of crude oil in 2020, a sharp decrease …