Russian and UK oil giants signed a strategic collaboration agreement on carbon management and sustainability activities. Rosneft and BP will also jointly evaluate new projects envisaging the use of renewables, opportunities for carbon capture, utilisation and storage, as well as developments for hydrogen. Rosneft CEO Igor Sechin said:‎ • Joint …

Iraq missed its own target to slash oil output to a six-year low and make up for breaching its OPEC quota. The group’s biggest producer after Saudi Arabia pumped 3.87mn barrels of crude a day last month, only 10,000 fewer than in December, according to a Bloomberg survey and tanker-tracking …

Oil hit its highest level in a year on Friday, closing in on $60 a barrel on economic revival hopes and supply curbs by producer group OPEC and its allies. New orders for U.S.-made goods rose more than expected in December, pointing to continued strength in manufacturing. The U.S. Congress …

Equinor has made a new oil discovery near Norway’s giant Troll oil and gas field together with partners DNO, Wellesley and Petoro, the Norwegian Petroleum Directorate said on Friday. Equinor said in a separate statement the reservoir was expected to contain between 44 million and 69 million barrels of oil …

A new technology using drones, developed by the International Atomic Energy Agency for use by authorities in Fukushima Prefecture in Japan, has been tested and validated under real conditions in Fukushima and is available for practical use in routine or emergency situations. The IAEA said the drones, or unmanned aerial …

The price of OPEC basket of thirteen crudes rose at $56.80 a barrel on Wednesday, compared with $55.13 the previous day, according to OPEC Secretariat calculations. Experts said OPEC rising prices are affected by Brent and US crude oil which also rose today hitting their highest in about a year …

Oil hit an 11-month high on Wednesday, boosted by a draw in U.S. crude and gasoline stocks, which fuelled demand recovery hopes as OPEC+ has forecast that the market will be in deficit in 2021. Brent crude futures were up 48 cents, or 0.8%, to $57.94 a barrel at 0839 …

Iran’s daily gas refining capacity stood at 36 million cubic meters before the victory of the Islamic Revolution, which experienced a 28-fold increase within 42 years. As the Iranian Oil Minister Bijan Namdar Zangeneh mentioned, the gas industry developed after the victory of the Islamic Revolution; so, the daily gas …

In recognition of their shared objectives to increase the uptake of renewable energy, the International Renewable Energy Agency (IRENA) and the International Hydropower Association (IHA) have today signed a formal partnership agreement. Hydropower is the world’s largest source of renewable energy, contributing over half of global renewable energy installed capacity, …

The Gazprom Neft ’s “Green Seismic” and “Green Seismic 2.0” projects won the “Science for Ecology” nomination, awarded the Vernadsky National Ecological Prize. The purpose of the ecological prize is to recognise and popularise completed projects in environmental protection. This technology is widely used throughout the company in investigating heavily …