Oil prices rose more than two per cent on Monday, lifted by comments from doctors for U.S President Donald Trump, suggesting he could be discharged from hospital as soon as Monday. This is just a few days after his positive coronavirus test sparked widespread alarm. Mr Trump’s health update eased …

Libyan Central Bank Governor Sadiq Al-Kabir called for an immediate resumption of oil operations to shore up the economy amid an unprecedented decline in monetary reserves. “We need to raise the production to 1.7 million barrels per day to cover the country’s spending,” Al-Kabir said at a forum that centered …

Saudi Arabia raised pricing slightly for its flagship crude oil shipped to Asia, the first sign of strength in the physical market after a month and a half of weakness and crashing refining margins. The increase in November pricing marks a change in course for the world’s biggest exporter after …

Deputy Minister of Industry, Mine and Trade put the country’s non-oil exports value in the first six months of the current Iranian calendar year (from March 21 to Sept. 22) at $13.5 billion. At the condition that spread of coronavirus, COVID-19, has decreased international trade as much as 14 percent, …

Germany’s Economy Minister Peter Altmaier said talks on Tuesday (6 October) between energy ministers from the 27 EU members had shown that a majority want to update the emissions-cutting target by 2030 for the bloc, on its way to climate neutrality by 2050. “We have a historic window of opportunity …

Iran plans to put into operation a great natural gas liquid (NGL) plant by March, Head of the Khatam-al Anbiya Construction Headquarters Saeed Mohammad said, adding that the plant will collect flare gases from Southwestern oilfields. Mohammad said that the first phase of NGL 3200 project would use 250 million …

India’s gas-based power generation this year has climbed to a level not seen in years as record low gas prices helped to make it relatively more attractive than coal in certain regions of the country, with analysts expecting the trend to continue for the rest of the year. The substantial …

Norwegian energy giant Equinor has decided to reduce its exploration staff by 30 per cent as the Covid-19 pandemic reduces oil demand. In a statement sent to Offshore Energy, a spokesperson for Equinor said the planned reduction in positions in Equinor’s exploration organisation is around 30 per cent and it …

Iranian researchers at Amirkabir University of Technology produced gasoline and petrochemical products with natural gas through a clever and low-cost method. “The use of oil in production of catalysts is highly expensive, and in this project we used natural gas and converted the gas into light olefins by MTO method,” …

Oil prices gained on Tuesday due to fears that refineries could be hit by a storm brewing in the Gulf of Mexico, while buyers also drew relief from U.S. President Donald Trump’s return to the White House after being treated for COVID-19 in hospital. The gains slightly extended Monday’s rally …