Iranian Minister of Energy said that Iran and Iraq have finalized two cooperation agreements in the field of electricity. Reza Ardakanian made the remarks on Tue. in his meeting with Iraqi Electricity Minister Majid Mahdi Hantoush on the sideline of visit of Iraqi Prime Minister Mustafa al-Kadhimi to the Islamic …

As the Middle East enters the hottest days of summer, Saudi Arabia is set to burn potentially record amounts of crude oil to run its power plants and keep its citizens comfortably air-conditioned. Electricity consumption always soars around July and August, when temperatures in the kingdom can rise above 122 …

While the rest of the world continues to struggle with fuel demand recovery in fits and starts, China has been a key factor in supporting oil prices as it breaks crude oil import records. Record Chinese crude oil imports over the past few months have supported still weak global oil …

Iraq’s Gharraf oil field has restarted production at a rate of 50,000 b/d after output was suspended in mid-March as part of measures to contain the coronavirus pandemic, a Japan Petroleum Exploration spokesman told S&P Global Platts July 22. Production was restarted July 21 after Malaysia’s Petronas, the operator of …

US demand for petroleum and liquid fuels is expected to remain below the 2019 average from before the COVID-crisis until August 2021, according to the US Energy Information Administration (EIA). Total demand for motor gasoline, distillate fuel oil, and jet fuel crashed in March and April due to the stay-at-home …

It was purely a coincidence but, simultaneously on Monday, Providence Resources announced progress with its latest bid to develop its Barryroe oil discovery off the south coast while the EU Commission approved the latest price support scheme for renewable energy. Alan Linn, Providence’s new chief executive, pointed out that Barryroe, …

In the first big deal since oil prices crashed four months ago, Chevron agreed to buy Noble Energy for roughly $US5 billion ($7 billion) in what many experts consider the beginning of a sweeping consolidation in the US oil industry. The coronavirus pandemic caused a sharp decline in oil demand, …

Israel’s offshore Leviathan gas field experienced declining gas production volumes and prices in Q2 2020, following a drop in regional demand as a result of the Covid-19 pandemic, Kallanish Energy reports. A H1 2020 update published by project partner Derek Drilling recorded total net gas production of 0.74 billion cubic …

South Sudan is banking on a better year in 2021 after efforts to rebuild its oil industry were knocked by the coronavirus and a collapse in crude prices.“We experienced prices that had never been there before and we are running at a loss” along with private operators, Awow Daniel Chuang, …

Qatar has the lowest “2020 central government deficit-to-GDP ratio” in the GCC at 10%, S&P Global said and noted fiscal deficits will shrink in the region from 2021, assuming oil prices improve and oil production cuts taper in line with the ‘April 2020 |OPEC+’ agreement. As a percentage of GDP, …