Germany won’t need additional gas flows this season, giving Chancellor Angela Merkel and Russian President Vladimir Putin another reason to bide their time on the controversial Nord Stream 2 pipeline. After two warm winters and the coronavirus pandemic, demand for the fuel used for heat and power generation is sagging …

Ambassadors of several European Union countries reiterated Saturday to the Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah their full support for the NOC to regain oil production rates as before the January shutdown. Italy, Sweden, Denmark, Austria, Spain, Belgium, Norway, Finland, Poland, Hungary, and Holland’s ambassadors hailed …

Turkey is likely to raise the estimated amount of natural gas from its recent discovery in the Black Sea, Bloomberg reported on Friday, citing sources familiar with the matter. Ankara may issue a new guidance on the discovery as early as next week, Bloomberg said, after the completion of exploratory …

World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits. The prediction from the Organization of …

Iran exported the fifth non-oil cargo to Oman via Sirik Port in southern Hormozgan Province, the governor of Sirik County announced. Ahmad Jamaleddini put the weight of the mentioned cargo at 550 tons valued at 64 billion rials (about $1.523 million), including fruits and vegetables, mineral water, paving stones, nuts, …

Saudi Arabia is considering the cancellation of plans for the Organization of the Petroleum Exporting Countries to raise oil production early next year, The Wall Street Journal reported Thursday, citing comments from senior Saudi oil advisers. They cited the rise in COVID-19 cases in many parts of the world, as …

Despite being touted as a zero-emissions solution for steel production, green hydrogen derived from renewable energy will play a relatively minor role in reducing sector emissions between now and 2050, says the International Energy Agency (IEA). By mid-century, less than 10% of steel produced globally will use renewable hydrogen as …

Iranian researchers at Amirkabir University of Technology designed and produced a semi-industrial prototype multiphase oil well flowmeter, a technology exclusively owned by US firms. “Production and operation of oil and gas fields requires the use of flow measuring equipment at the outlet of wells and in the fluid transmission line, …

Oil prices retreated on Friday after oil workers in Norway called off a strike that had threatened energy production in the country, China’s Xinhua news agency reported. The West Texas Intermediate (WTI) for November delivery lost 59 cents to settle at US$40.60 dollars a barrel on the New York Mercantile …

Turkey expects to raise its estimate for the amount of natural gas discovered in the Black Sea and plans to announce the new guidance as early as next week, according to people with direct knowledge of the matter. The government will outline a sizable revision to the initial discovery of …