The manager of the National Iranian Oil Company (NIOC) for planning affairs said the country is going to invest about $275 billion by 2041 for the development of the oil and gas fields. Speaking at the First Conference of Managers of the National Iranian Oil Company, Ahmad Rajabi stated that …

Turkey is on track to have the third-largest natural gas storage capacity in Europe, thanks to the planned expansion of storage facilities. Its strategic geographical position makes it a key transit country for natural gas pipelines from various regions, including Russia, the Caucasus, the Middle East and Africa. Enhancing gas …

Turkey’s main oil refiner Tupras claims that a ship seized by Iran off the coast of Oman was laden with Turkish crude imported from Iraq. Tupras said in a statement that radio communication with the Greek-owned and Tupras-chartered vessel was cut off at around 6:30 a.m. Istanbul time Thursday off …

Oil prices surged four percent on Jan. 12 after U.S. and UK forces launched strikes against Iran-backed Houthi rebels following their attacks on ships in the Red Sea. Tokyo and European stock markets ended the week with strong gains as traders brushed off data showing U.S. inflation rose more than …

China imported a record-high volume of crude oil last year, beating the previous annual record from 2020, as fuel demand rebounded after the Covid restrictions were abandoned in early 2023. Chinese crude oil imports jumped by 11% year-on-year to 11.28 million barrels per day (bpd) in 2023, according to data …

The United Kingdom government said it is considering a third new-generation nuclear plant with the same power capacity as the under-construction Hinkley C and the approved Sizewell C. The third plant is part of the Civil Nuclear Roadmap announced by the Department of Energy Security and Net Zero (DESNZ) Thursday, …

The easing of the COVID-related sanitary regime at Chinese customs crossings enabled Kazakhstan to quadruple the amount of agricultural goods it exported to the country in 2023 as compared to a year earlier. The 2.2 million tons, which comprised wheat, barley, soybeans, flax and sunflower seeds, that was sent to …

Optimizing its position in the global energy sector, the French energy giant TotalEnergies has recently announced an expansion of its holdings in a notable oil discovery located in Namibia, marking a strategic initiative within the industry. The company has recently inked a deal with Impact Oil and Gas Namibia (Pty) …

The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 2 to 619 this week, compared to 775 rigs this same time last year. The …

The world’s largest uranium miner issued a dire warning on Friday concerning its production outlook for 2024, sparking fears that nuclear fuel supply could be at risk. London-based Kazatomprom—the largest uranium miner in the world—said on Friday that sulfuric acid shortages and construction delays at newly discovered deposits could lead …