The OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC’s secretary general said on Thursday, adding that demand has been recovering more slowly than expected. “I want to assure you that the OPEC, non-OPEC partnership will …

The OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC Secretary General Mohammad Barkindo said on Thursday. He was answering a question about whether there was room in for a planned increase in oil output from …

Every month OPEC (Organization for the Petroleum Exporting Countries) releases a report on the oil industry and the overall OPEC oil price and trend evolution. The report of this October showed the price of oil remained glued to the $40 level for several months now. In all, OPEC now sees …

Islamic Republic of Iran and Qatar stressed the need to develop and expand bilateral ties on a series of mutual interests. Iranian Minister of Energy Reza Ardakanian and Qatari Minister of Commerce and Industry Ali bin Ahmed Al Kuwari held talks on Tue. through videoconference. In this online meeting, the …

Russian Energy Minister Alexander Novak said on Wednesday he had invited other BRICS countries – Brazil, India, China and South Africa – to take part in joint oil and gas projects in the Arctic. In a speech at a meeting of energy ministers from the group of major emerging economies, …

Iraq has forecast the average price of its crude oil at $50/b in 2021, 23.4% higher than that which was proposed in the 2020 budget, as OPEC’s second largest producer plans for energy reforms over the next few years, according to a government white paper seen by S&P Global Platts. …

Germany has become the largest consumer of Russian gas in Europe after it increased exports of the blue fuel more than twofold in one month, fresh data from Russian customs shows. Russia pumped over 3.2 billion cubic meters of gas to its largest European trade partner in August, TASS reported, …

‘The worst is definitely behind us’ in the oil market, says Saudi Aramco CEO Amin Nasser Advertisement Global demand for crude could recover to pre-coronavirus levels by 2022, Saudi Aramco said on Tuesday, October 13, as the International Energy Agency (IEA) projected it could take at least a year longer. …

A new gas deposit was discovered at the Leningradskoye field of the Yamal gas production centre, Russian gas monopoly Gazprom has said. As a result of drilling and testing of an exploratory well, commercial gas inflow was obtained with a flow rate of about 600,000 cubic metres per day, Gazprom …

In some parts of the world, solar power is now the cheapest source of electricity in history, thanks to policies encouraging renewable energy growth. That’s according to a new report released today by the International Energy Agency (IEA). Sunshine is free, but the technology needed to turn it into usable …