Energy Policy

The Covid-19 pandemic has led to the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year, the International Energy Agency says in a new report. “The unparalleled decline is staggering in both its scale and swiftness, with serious potential implications …

Energy ministers from the Group of 20 major economies called Tuesday for capital investments in innovative technologies and infrastructure to support energy security and bolster market stability as economies seek to recover from the novel coronavirus pandemic. “As we address the impact of the COVID-19 crisis, we recognize that energy …

The latest reports on Iran’s oil exports indicate that the country has risen oil exports sharply in September in defiance of the U.S. sanctions. Data from TankerTrackers and two other firms indicated exports are rising in September, although the figures fall into a wide range of between 400,000 bpd and …

Russia rejects US attempts to oppose the Nord Stream 2 gas pipeline project by forging a coalition of project opponents, Spokeswoman of the Foreign Ministry, Maria Zakharova noted on Wednesday. “We condemn calls for forging a certain coalition against the pipeline, wherein German and other companies have already made multi-billion …

Iran’s Minister of Petroleum said on Monday that Iran will apply modern technology for recovery of oil and gas fields. Universities and industry need each other, said Bijan Zangeneh in the ceremony to sign 13 new agreements with universities for recovery of more oil and gas fields. Zangeneh said that …

The B20 – which represents the global business community within the Group of 20 (G20) countries – and the International Energy Agency (IEA) have called on political and industry leaders in the global forum to seize the “unique opportunity” presented by the coronavirus pandemic to put in place policies that …

OPEC+ could hold an extraordinary meeting in October if oil markets weaken further, Saudi Energy Minister Prince Abdulaziz bin Salman said, according to an OPEC+ source. Brent oil prices extended their gains to trade up 3% on the news, above $43 per barrel. Prince Abdulaziz was speaking at a closed-door …

The Organization of Petroleum Exporting Countries turned 60 on September 14 – and despite its colorful past, COVID-19 is proving to be its greatest challenge in that time span. The pandemic wiped out a third of global demand for oil during the darkest days of crisis – the second quarter …

Turkey withdrew its seismic research vessel, the Oruc Reis, from the contested waters of the eastern Mediterranean Sea, where tensions triggered by the ship’s activities have run high for more than a month. The move came as a surprise for many, and observers wonder whether the move is just a …

Turkey will deploy another drilling ship, named Kanuni, to the Black Sea, Energy and Natural Resources Minister Fatih Donmez said on Sunday. Kanuni will support another Turkish vessel, named Fatih, which in mid-August discovered gas deposits in the Black Sea of 320 billion cubic meters with an estimated value of …