Energy Policy

OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook due to new Covid-19 lockdowns in China. Delegates from the group said OPEC+ was set to agree another monthly increase of …

The European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia and target the country’s biggest bank and major broadcasters in a sixth package of sanctions over the war in Ukraine. European Commission President Ursula von der Leyen, addressing the European Parliament in …

Russian President Vladimir Putin has threatened to terminate exports and deals with the West and add certain individuals and entities to the Kremlin’s sanctions list in retaliation for sanctions imposed by the United States and the European Union. Russian President Vladimir Putin introduced a package of economic measures on Tuesday …

An expert on energy has said that in addition to Iran, Saudi Arabia, the United Arab Emirates, and Kuwait also will not have good conditions in the oil market Mahmoud Khaghani said in remarks to ILNA that “Our oil and gas market is in a very special situation and we …

Russia’s attack on Ukraine and the uncertainty caused in the energy market due to it has prompted the European Union (EU) to focus its attention on reducing its dependency on Russian energy and look for more sustainable options. The bloc looks to phase out its dependence on fossil fuels from …

The world’s economy is forecast to grow around 3.6% this year, but Arab oil exporters are seeing a windfall from high energy prices that will buoy their economies and replenish their financial reserves this year and next, according to a report released Wednesday by the International Monetary Fund. Those hard-hit …

The biggest energy shock since the 1970s is expected to keep oil and other energy prices elevated for years as the Russian invasion of Ukraine is changing energy trade flows and consumption and production, the World Bank said in its latest Commodity Markets Outlook report on Tuesday. Prices of food …

The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The US and European countries are planning liquefied natural gas terminals that …

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed this weekend their countries’ cooperation in the OPEC+ oil production pact in their second telephone call since Russia’s invasion of Ukraine. Russia is a key partner to OPEC’s largest producer and de facto leader, Saudi Arabia, in the …

Spokesman of the Atomic Energy Organization of Iran (AEOI) Behrouz Kamalvandi said that his country will not give the International Atomic Energy Agency (IAEA) the data recorded by the surveillance cameras at its nuclear installations before reaching an agreement in Vienna talks. The IAEA will have no access to data …