The full promise of natural gas will unfold once the world is past the coronavirus pandemic, upbeat energy ministers of the leading gas exporting countries said at a recent GECF ‘Ministerial Roundtable’ held virtually The full promise of natural gas will unfold once the world is past the coronavirus pandemic, …
Read More »OPEC+ Compliance with Cuts at 101% ahead of Crucial Meetings
The OPEC+ group complied 101 percent with the oil production cuts in October, keeping a high level of conformity ahead of the crucial meetings over the next two weeks, which will decide if the alliance will reverse course on easing the cuts given the worsening demand outlook. The compliance last …
Read More »India’s Energy Demand on the Path to Recovery
India’s energy demand is poised to bounce back as Asia’s third-largest economy reopens for business, oil minister Dharmendra Pradhan said. The country’s consumption of petrol, gas oil and cooking gas in October “exceeded the figures of last year”, said Mr Pradhan during the online Abu Dhabi International Petroleum Exhibition and …
Read More »Trump’s Sanctions Rooted in Grudges against Iran
Iran’s Minister of Petroleum Bijan Zangeneh said on Monday that the US sanctions imposed by US President Donald Trump on the Iranian oil industry officials are due to his sense of revenge and drudges against Iran. Speaking in the opening ceremony of 181 natural gas projects in Fars Province through …
Read More »OPEC+ Inches Closer to Delaying Output Hike after Russian Talks
OPEC+ inched closer to delaying its January output increase, with Russia actively discussing keeping its current curbs for an extra three months as oil markets weaken. The producer group has been dropping hints for weeks that its plan to add almost 2mn barrels a day to oil markets next year …
Read More »Iran’s 7-Month Non-Oil Exports Stand at $18.2b
Iran exported 65.5 million tons of non-oil commodities worth $18.2 billion during the first seven months of the current Iranian calendar year (March 20-October 21), registering a 17.5-percent fall in terms of weight, compared to the figure for the previous year’s same period. According to the Head of the Islamic …
Read More »Barkindo: Rising Infections may Delay Oil Market Recovery
OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market. OPEC and allies including Russia made a record oil output cut in April as the pandemic hit …
Read More »Era of Unilateralism Over
Oil Minister Bijan Zangeneh on Monday slammed the US for imposing sanctions against him, saying that the era of unilateralism is over in the world. “Imposition of sanctions on me and my colleagues is a passive reaction to the failure of Washington’s policy of reducing [Iran’s] crude oil exports to …
Read More »Japan to Go Carbon-Free by 2050
Japan will achieve zero carbon emissions by 2050, Prime Minister Yoshihide Suga declared Monday in his first policy speech as leader, outlining an ambitious agenda as the country struggles to balance economic and pandemic concerns. The policy speech at the outset of the parliamentary session reflects Suga’s pragmatic approach to …
Read More »Oil Industry Expresses Concern, Not Alarm, About Biden Comments
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 …
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