Oil prices slipped on Monday after hitting more than two-and-a-half-year highs earlier in the session, as a spike in Covid-19 cases in Asia put a brake on rally before this week’s OPEC+ meeting. Brent dipped 10c, or 0.1%, to $76.08 a barrel at 9.11am GMT, after climbing to $76.60 its …

Oil revenues for Libya reached record levels last May, as they recorded 1.322 billion dollars in crude oil and 53 million dollars in gas and condensates, the National Oil Corporation (NOC) announced on Sunday. The corporation said that net revenues for the month of May from sales of crude oil, …

Two of the world’s first one-gigawatt turbines started full power generation on Monday at the giant hydropower station in southwestern China. According to state broadcaster CCTV, Baihetan started generating electricity on Monday, after a three-day trial operation. When completed, it will house 16 China-developed generators, providing a total capacity of …

The Iranian Foreign Ministry announced on Monday that still no decision has been taken to extend or not to extend monitoring deal with the International Atomic Energy Agency. “Still no decision has been taken about agreement or no agreement, or how to continue or not to continue cooperation with the …

Iranian Parliament Mohammad Baqer Qalibaf has announced that Iran’s three-month deal with the UN nuclear watchdog has expired and thus Iran won’t give its data recordings to the UN body. Qalibaf made the remarks in response to a question from a lawmaker on the latest developments regarding the deal between …

It is ironic that at a time when natural gas is under existential attack in Europe, high prices are conspiring with those aiming for its demise. Even though such high prices are a temporary phenomenon, they are encouraging and hastening the switch to renewables. High gas prices in Europe are …

Saudi Aramco outlined plans to invest in blue hydrogen as the world shifts away from dirtier forms of energy, but said it will take at least until the end of this decade before a global market for the fuel is developed. “We’re going to have a large share” of the …

India, the world’s third-biggest oil importer, has significantly reduced its imports from the Middle East as part of a drive to diversify crude sources. The share of Middle Eastern crude in India’s oil imports fell to a 25-month low in May, tanker data provided by trade sources showed, as refiners …

The Iraqi state-owned Oil Marketer, SOMO, said on Sunday that the Chinese oil companies were the top buyers of Iraqi oil in May. In an official chart published on its official website, SOMO said that Chinese importers of Iraqi oil were eight, the most among 32 companies. Indian and U.S. …

Iran’s Ambassador and Permanent Representative to the Vienna-based International Organizations Kazzem Qaribabadi said that Iran agreed with the International Atomic Energy Agency’s demand to keep the data recorded by the IAEA’s cameras out of good will and not as an obligation. Qaribabadi was speaking in a televised program on Saturday …