Iraq has raised estimates for its oil income and export prices for May, the oil ministry said on June 24, as OPEC’s second-largest producer benefits from the uptick in global crude prices. Its May income was $2.136 billion, up from the previous estimate of $2.091 billion, the ministry said in …

Oil prices dipped further on Thursday after tumbling more than 5% in the previous session, as a record build in U.S. crude inventories and a rapid resurgence in COVID-19 cases cast doubts on fuel demand recovery. U.S. West Texas Intermediate (WTI) crude futures fell 22 cents, or 0.6%, to $37.79 …

Historically low natural gas prices from Asia to Europe and lower demand in the pandemic have resulted in U.S. exports of liquefied natural gas (LNG) dropping from 8.1 billion cubic feet per day (Bcf/d) in January to an expected export volume of just 3.2 Bcf/d in July, the U.S. Energy …

The Iranian president says Iran is building a major pipeline to transferring oil from west of the Persian Gulf to its east, cutting dependence on Hormuz Strait for oil exports. President Hassan Rouhani on Tuesday described the pipeline project as a major and significant national program. “We are doing a …

A senior Iranian lawmaker advised the International Atomic Energy Agency (IAEA) on Wednesday not to sacrifice Iran’s legitimate interests for the sake of the US excessive demands though knowing that Tehran has done its activities under the IAEA supervision. Hossein Nooshabadi, member of Majlis (Parliament) National Security and Foreign Policy …

Proposals by the Climate Action 100+ investor signatories calling on major oil and electric power companies to disclose lobbying activities and improve governance on climate change earned record support during the latest shareholder proxy season. Notably, a 53% majority of shareholders at Chevron Corp. CVX, -0.16% voted for a resolution …

China’s top natural gas buyers have been directed by regulators to share import infrastructure, one of the broadest government efforts yet to enforce reform policies aimed at bolstering energy security and breaking down market barriers between the nation’s three state energy giants. The move comes as the world’s biggest gas …

Novatek, the largest private natural gas supplier in Russia, has said it will have sufficient gas reserves to add a $10bn LNG plant to its processing complex in northwest Siberia, and that it plans to build a series of transshipment complexes. The company began producing LNG at its Yamal plant …

The Covid-19 pandemic is prompting energy companies world-wide to shed jobs and cut costs, and will have a fundamental impact on the pace and direction of global energy transition, the World Energy Council (WEC) said, pointing to the latest findings of its global surveys. “The Covid-19 crisis is triggering the …

Oil prices rose on Tuesday after a volatile session sparked by confusion over the status of the U.S.-China trade deal. Markets were unsettled by surprise comments from White House trade adviser Peter Navarro, who said the hard-won deal was “over”, though U.S. President Donald Trump later soothed jangled nerves with …