International

Iraq has been saying it wants to produce more oil and gas for a while now but turning stated ambitions into reality has taken a while. This week, the country took a big step towards that reality when it signed a slew of deals with foreign companies as part of …

According to the 2022 BP Statistical Review of World Energy, Venezuela has more proved oil reserves than any other country in the world. Venezuela’s 304 billion barrels of proved reserves just edges out Saudi Arabia’s 298 billion barrels. Both are far ahead of U.S. proved reserves of 69 billion barrels. …

Russia stopped deliveries of oil to Poland via the “Druzhba” (“Friendship”) pipeline, as informed by the Polish biggest state oil company PKN Orlen. PKN Orlen informed the Polish Press Agency that the company was prepared for such a move and that deliveries to its refineries would continue on tankers. “The …

The Americans claim innocence of the blast of the Nord Stream gas pipelines, but “everyone understands that this is a lie,” a Russian diplomat has said. “The Americans are banally lying. I can once again recall the story about the test tube of (former) U.S. Secretary of State Colin Powell, …

Europe is on track to import this month the highest volumes of diesel from the Middle East and Asia in seven years as the EU turns to alternative supply after the ban on imports of Russian diesel and other fuels took effect on February 5. Diesel and gasoil arrivals to …

The total number of total active drilling rigs in the United States fell by 7 this week, according to new data from Baker Hughes published on Friday. The total rig count fell to 753 this week—103 rigs higher than the rig count this time in 2022 and 322 rigs lower …

With the fading of economic headwinds and easing of global financial conditions, China and India alone are expected to contribute more than half of global growth this year, with the rest of Asia contributing an additional quarter, International Monetary Fund IMF) said on Tuesday in its blog post on Asia’s …

Iraq’s oil ministry on Tuesday signed several contracts with UAE’s Crescent Petroleum, China’s Geo Jade Petroleum and Hong Kong’s United Energy Group (UEG) to develop oil and gas fields in Diyala and Basra provinces, as the country plans to be self-sufficient in gas production within the next three years. Iraq’s …

Saudi Arabia’s receipts from oil sales abroad fell for a sixth straight month but still capped a year that saw the kingdom rack up the highest annual income during Mohammed bin Salman’s time as crown prince and de facto ruler. The second-biggest windfall in Saudi history gives the crown prince …

Pakistan is in talks with Azerbaijan to import Petroleum, Oil, and Lubricants (POL) products on credit, as well as to agree on liquefied natural gas (LNG) supplies at affordable prices, a senior official at Pakistan’s Energy Ministry said, Trend reports via Geo News. Reportedly, a delegation led by Pakistan’s Federal …