The international rig count, except for the US and Canada, increased by 14 units month-on-month (MoM) in March 2021, bringing the total count to 715, data of energy services firm Baker Hughes showed. The oil rigs in the Middle East rose by one MoM to 261 in March but declined …

A spokesman for the Iraqi Ministry of Electricity has expressed hope that the Iranian authorities would supply gas needed for Iraqi power plants. In the meantime, the United States has granted Iraq the maximum extension to a sanctions waiver, allowing Baghdad to import electricity and gas from Tehran. “Baghdad is …

Russian President Vladimir Putin and Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud in a telephone conversation on Thursday, April 1, raised the topic of OPEC+, among other things, Presidnetial spokesman Dmitry Peskov said on Friday. “The OPEC+ topic was discussed during this conversation, we appreciate the friendly …

U.S. exports of liquefied natural gas (LNG) to China, Japan and South Korea, the biggest importers of the fuel, have surged to record highs in recent months as the heavily industrialised region recovers from the COVID-19 pandemic, Eikon trade data shows. As with the ramp-up of U.S. oil exports that …

Iran’s Oil Minister Bijan Zanganeh said that the country has produced 25 million tons of petrochemicals during the past calendar year (ended March 20). “Iran’s petrochemical production capacity reached 25 million tons in last year,” Zanganeh said at the end of the 15th OPEC Plus Ministerial Meeting, and added that …

The OPEC and its allies have agreed to gradually increase oil production in the coming months, moving cautiously in pace with the recovery of the global economy from the COVID-19 pandemic, reports stated on Thursday. The oil cartel and its allied nations agreed to add back some 2 million barrels …

Qatar Petroleum said on March 30 it would take full ownership of its Qatargas 1 LNG plant when its 25-year contract with international investors including Exxon Mobil Corp. and Total SE expires next year. The decision not to extend the contracts for the country’s first-ever LNG processing plan came as …

French energy major Total has signed an agreement with Iraq’s Ministry of Oil to develop a host of energy projects in the country, including 1GW of solar PV. The agreement, which builds on discussions between Total and the Iraqi government that began in October last year, has seen the two …

China’s build-up of oil refining capacity is threatening the viability of other Asian refiners as the country is about to become the world’s largest refiner this year amid still depressed demand for fuels. Bloomberg reports that the refining capacity of the country has increased threefold over the last 20 years …

A second Russian pipelaying vessel is now headed for Danish waters to join the operation to lay the almost-complete Nord Stream 2 gas pipeline from Russia to Germany, the pipeline development company said March 31. The Adakemik Cherskiy — which has dynamic positioning capabilities allowing for accelerated pipelaying — will …