Energy Policy

The global oil market could see tightness in the second half of 2023, which would push oil prices higher, Fatih Birol, executive director of the International Energy Agency (IEA), said on Wednesday (April 12). Oil prices have surged above US$80 (RM353) since the beginning of the month, after the Organization …

Iran and the European Union’s 27 member states traded €401.17 million worth of goods in January 2023, registering a 5.31% rise compared with the same month of the year before. New data released by Eurostat show Germany was the top trading partner of Iran in the EU region during the …

The increasingly closer relations between China and Russia and the Chinese push to make its currency more relevant on the global markets are challenging the dominance of the petrodollar. The U.S. dollar, which has been the currency of choice in oil trade since the 1970s, is still the dominant currency …

Turkey on Wednesday said it was ready to assist Hungary with natural gas delivery via the Trans-Anatolian Natural Gas Pipeline (TANAP). “We, (Turkey) together with Azerbaijan, are ready to provide all means of support in the delivery of natural gas to Hungary via TANAP,” President Recep Tayyip Erdogan said at …

The OPEC+ coalition is showing no signs of adjusting oil production next week, staying the course amid turbulence in financial markets. Group leader Saudi Arabia has said publicly that the 23-nation alliance should keep supplies steady for the whole of 2023 as it navigates a fragile recovery in global oil …

Iranian Foreign Minister Hossein Amir-Abdollahian on Thursday evening spoke with his Omani counterpart Badr Albusaidi. Amir-Abdollahian congratulated Albusaidi on the beginning of the holy month of Ramadan and highlighted issues of mutual interest in bilateral ties including the need for coordination of the upcoming visit of Oman’s sultan to Tehran. …

The European Commission (EC) has outlined plans for how the EU will compete in the development of new technologies necessary for the green transition against the US and China. The Critical Raw Minerals Act, proposed by the European Commission on Thursday, seeks to reduce the EU’s dependence on raw minerals …

Tehran and Riyadh have exchanged views regarding OPEC and OPEC+ policies to ensure stability in the world oil markets, Iran’s oil minister said. “All decisions concerning global oil markets over the last few months have been made by pooling minds with OPEC’s de facto leader and closer collaborations are on …

The Head of the Atomic Energy Organization of Iran (AEOI) said Iran is committed to IAEA protocols and nuclear-NPT, but IAEA supervisions must be within our frameworks and reservations. Mohammad Eslami said in a press conference on Sunday in response to a question about being satisfied with the recent visit …

UN leader Antonio Guterres on Saturday slammed the world’s rich countries and energy giants for throttling poor nations with “predatory” interest rates and crippling fuel prices. Guterres told a summit of the most deprived states on the planet that wealthy nations should provide $500 billion a year to help others …