An anomalous cold snap disrupted well operations across the central United States, prompting total US oil production to contract by approximately 40 percent, with crude output dropping by more than 4 million barrels a day nationwide, according to traders and industry executives cited by Bloomberg. US crude prices soared to …

The US remains on standby to impose sanctions against companies involved in completing the Nord Stream 2 gas pipeline from Russia to Germany, while diplomatic efforts to reach a compromise over the controversial project continue. White House press secretary Jen Psaki said late Feb. 16 in a briefing that Washington …

Iran has joined the club of nations with know-how to generate electricity from Hydrogen, according to the head of Renewable Energy and Energy Efficiency Organization. Mohammad Satekin said that Hydrogen, as the most available element in nature, is a desirable energy carrier. Satekin said that his organization supports the use …

Oil demand may never recover from the blow dealt to it by Covid-19, according to BP’s 2020 Energy Outlook. In two of the report’s three modelled scenarios, ambitious climate policies mean that global oil consumption already peaked at 100m barrels per day in 2019. Even under a “business-as-usual” case, demand …

According to the Turkish Daily Sabah, Fatih Donmez was speaking on Turkey’s efforts to ensure energy supply security and strengthen its place in energy markets in order to provide itself with better bargaining opportunities, at the 7th Southern Gas Corridor Advisory Council meeting. The launching of the Natural Gas Futures …

Oil prices jumped on Tuesday due to weather affecting wells and refineries in Texas, the world’s biggest oil producer. Concerns of supply in the world’s biggest oil exporter also edged prices higher due to tensions in the Middle East. Brent crude was up 35 cents, or 0.6%, at $63.65 a …

As many as 24 water and electricity facilities will be put into operation in 5 provinces of Iran today on February 16, Trend reports citing the Ministry of Energy of Iran. According to the report, in total, 9.75 trillion rials (about $232 million) have been spent on facilities put into …

A UN spokesman has reacted to Iran’s decision to limit the International Atomic Energy Agency’s inspection of country’s nuclear facilities. The United Nations is calling on Iran to fully cooperate with the International Atomic Energy Agency (IAEA), UN spokesman Farhan Haq said, commenting on Tehran’s plan to limit IAEA inspections …

A Lebanese newspaper revealed that the government is preparing to sign an agreement with Iraq, according to which Lebanon will receive 500 thousand tons of oil crude for a year, in exchange for medical equipment, medicines, and consulting services. Al-Akhbar newspaper, quoting private sources, stated that the Lebanese government is …

Companies including the venture arms of BP Plc and Chevron Corp. invested $40 million in a startup that aims to use the fossil fuel industry’s drilling experience to expand a technology that harvests low-carbon energy from heat below the earth’s surface. Eavor Technologies Inc. plans to expand geothermal power beyond …