Oil extended last week’s losses on Monday, falling nearly 2% as a surge in COVID-19 infections in the United States and Europe prompted concern over crude demand, while the prospect of increased supply also hit sentiment. Brent crude was down 70 cents, or 1.7%, at $41.07 by 0353 GMT. U.S. …

“I would transition from the oil industry, yes,” Democratic presidential candidate Joe Biden said during last night’s debate with President Donald Trump in response to a question from his opponent. “Would he close down the oil industry?” Trump asked Biden, as quoted by the National Review. “Would you close down …

France’s government has asked local power group Engie, in which it holds more than 20 percent, to delay the signing of a 20-year deal worth US$7-billion to buy liquefied natural gas (LNG) from a planned export project in Texas due to concerns over gas production emissions, Politico reported, quoting sources …

Joseph R. Biden Jr.’s promise that he would “transition” the country away from oil and natural gas might hurt him politically in Texas and Pennsylvania, but it did not come as a surprise to many in the energy industry. Oil and gas executives have been keenly aware that the world …

Total SE is considering natural-gas investments in Iraq, according to the Middle Eastern nation’s government. The two sides held talks this week about projects in western Iraq and near the southern energy hub of Basra, the Iraqi oil ministry said in a statement. They hope to reach an agreement soon, …

Governor of Central Bank of Iran (CBI) wrote in his Instagram account that in order to increase the volume of the country’s foreign trade and make better use of domestic production facilities, in addition to current methods, the use of bartering oil in return for basic goods will increase. Despite …

Turkish Energy Minister Fatih Dönmez said on Oct. 22 that Turkey will operate the gas field which it recently discovered in the Black Sea on its own, but it may cooperate with foreign firms in terms of detailed work and equipment. His comments, at an interview with broadcaster A Para, …

As OPEC and its allies ruminate over whether to ease their collective production cuts at the end of the year, a very interested – though perhaps distracted by the US election – Trump administration will be watching closely from Washington. The OPEC+ agreement, forged in April during the worst of …

Sanctions, including those that target Nord Stream pipeline project, are hindering the world’s economy from recovering after the shock of the coronavirus pandemic, Igor SECHIN, the president and CEO of Rosneft, said in his address to the Eurasian Economic Forum in Verona. “The sanctions will get in the way of …

The Middle East is expected to become one of the world’s main suppliers of liquefied natural gas (LNG) as climate policies see a rapid decline in demand for oil and coal, leading to a shrink in fossil fuel consumption for the first time in modern history, BP said in its …