In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production. But few expected that the cuts would run this deep — and happen so quickly. Drillers are laying down rigs and shutting in wells at a …

Again, experts are warning that Nigeria as a country is slipping away in the face of global competition among the oil-producing countries. They are of the opinion that Nigeria remains a country to watch in view of the global COVID19 Pandemic. Because she may not be able to withstand the …

Kuwait and Saudi Arabia agreed to stop production from the Al-Khafji crude oil field – part of their shared Neutral Zone – as of June 1, according to a source with knowledge of the situation. The shutdown comes just months after both countries agreed to resume production at the Neutral …

OPEC is cautiously optimistic that the worst of the oil crisis triggered by the coronavirus pandemic is over, said the group’s top official. The outlook for the market in the second half of the year is starting to look more encouraging as the global economy recovers, said Mohammad Barkindo, secretary-general …

The Joint Comprehensive Plan of Action (JCPOA) between Iran and the 5 + 1 group was implemented only by Iran, said Chairman of the Iranian parliament’s national security and foreign policy committee Mojtaba Zonnour, Trend reports citing Mehr news agency. According to Zonnour, one of the important goals of the …

Iran’s government spokesman Ali Rabiei says the country’s trade ties with Venezuela have nothing to do with any other country. In comments on Saturday, Rabiei said “Venezuela and Iran are both independent states that have had and will continue to have trade relations with each other.” “We sell goods and …

Iranian Minister of Defence Brigadier General Amir Hatami held a video conference with his Iraqi counterpart Juma Anad Saadoun, discussing the expansion of defence cooperation. During the video call, General Hatami Congratulated the appointment of Iraq’s new defense minister and expressed satisfaction with the formation of the government based on …

The Federal Network Agency of Germany refused Nord Stream 2 AG in withdrawing the Nord Stream 2 project from the rules of the updated EU Gas Directive, the regulator said earlier on Friday BRUSSELS, May 15. /TASS/. The European Commission was not involved in the decision taken by the German …

Satellite photos show the ship that is a prime candidate to finish the controversial Nord Stream 2 gas pipeline linking Russia and Europe has docked at a key port in Germany. The Akademik Cherskiy has moved into the port of Mukran, about 300 kilometers (186 miles) north of Berlin, where …

Rosneft, which has the largest share of ruble-denominated debt among Russian exporters, has optimized its debt portfolio due to changes in the foreign exchange market, Andrei Baranov, the director of Rosneft’s investor relations department, said on Friday during a phone conference. “Rosneft has a balanced debt portfolio, 50 percent of …