Russia intends to support a further increase in OPEC+ production at the group’s meeting next month, even as a new strain of the coronavirus raises concerns about demand, said officials familiar with the country’s oil policy. As of now, Moscow believes it makes sense to raise OPEC+ output by 500,000 …

Russia hopes the incoming administration of U.S. President-elect Joe Biden will not derail producer nations’ action to boost oil markets, Russia’s Deputy Prime Minister Alexander Novak said on Monday. Russia, other leading oil producers and the Organization of the Petroleum Exporting Countries, a group known as OPEC+, have joined forces …

Clean Energy Fuels Corp. and its largest shareholder, Total SE, entered a memorandum of understanding on Dec. 21 to create a 50/50 joint venture to develop carbon-negative renewable natural gas (RNG) production facilities in the United States, as well as credit support to build additional downstream RNG fueling infrastructure. Total …

The Kremlin sees US sanctions against the Nord Stream 2 pipeline, expected to pump gas from Russia to Europe, as a sign of a hybrid war, presidential spokesman Dmitry Peskov said Monday. Russian billionaire Oleg Deripaska has recently said that “sanctions are a tool of a very real modern hybrid …

The Russian oil company Tatneft is examining the possibility of resuming its operations in Libya, having ceased its works following the revolution of the 17 February, 2011. The Media East Monitor website reported that the company wished to return and resume production and exploration operations in several locations in Libya. …

The head of the International Atomic Energy Agency said his body is ready to send a monitoring team upon request to check treated radioactive water set to be discharged from the crippled Fukushima No. 1 nuclear plant to address concerns over environmental impact. “We can cooperate if the government of …

The OPEC+ group may prolong its current strategy to manage oil markets until the end of 2022 in order to keep speculators “on their toes”, Saudi energy minister Prince Abdulaziz bin Salman and Russian deputy prime minister Alexander Novak said in a joint press conference Dec. 19. The show of …

A lifting of virus restrictions, as vaccines are rolled out, should allow for a strong bounce-back in oil demand and prices in the second half of next year, Trend reports with reference to UK-based Capital Economics research and consulting company. “Indeed, after crashing in early 2020 in response to widespread …

Libya’s crude oil production continues to increase as one of its companies has nearly doubled its output to 100,000 barrels per day (bpd) compared to production levels before the blockade of Libyan oil ports and oilfields in January. Libya’s Sirte Oil and Gas Production and Processing Company has nearly doubled …

China’s largest refiner, Sinopec, expects domestic demand for oil products to peak by 2025 due to COVID impacts and the rise of electric vehicles, Argus reported on Friday, citing Sinopec’s research think-tank as saying in its annual report. “China’s oil products will enter a final growth phase before peaking in …