International

Iraq expects the price of oil to rebound and rise above $75/b in the coming months because current prices are “inappropriate” for producers, the country’s oil minister said Dec. 6, as OPEC+ sticks to its plan to boost output by 400,000 b/d in January. “I think the current oil price …

Libya’s state National Oil Corporation (NOC) discussed with U.S. oil services company Halliburton ways to develop wells and a digital transformation project for the oil sector. The discussions took place yesterday at the NOC’s Tripoli headquarters between NOC Chairman Mustafa Sanalla and the Vice President of Halliburton for the Middle …

When news first broke a few years ago that Russia’s state nuclear energy company was working on a floating nuclear power plant, some took it as a joke. Others mocked it as the worst idea ever. But it turns out it wasn’t such an outlandish idea after all. The Akademik …

Turkey has threatened to block any “unauthorized” search for gas and oil in what it considers its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights to Exxon Mobil and Qatar Petroleum, following a statement issued by the Turkish Foreign Ministry yesterday, 5 December …

Oil rose after Saudi Arabia boosted the prices of its crude, signalling confidence in the demand outlook despite the spread of the Omicron variant of the coronavirus. Futures in New York advanced more than 2 per cent to trade near $68 a barrel. The Kingdom increased its oil prices for …

Russia has not materially increased natural gas supply via its pipelines to Europe, despite assurances from Russian President Vladimir Putin that Gazprom would start sending more gas after it completes filling Russian storage. In November, Russian gas supply to Europe was volatile, as gas flows on the Yamal-Europe pipeline via …

China’s industry ministry on Friday unveiled a five-year plan aimed at the green development of its industrial sectors, vowing to lower carbon emissions and pollutants and to promote emerging industries so as to meet a carbon peak commitment by 2030. The world’s top greenhouse gas emitter is aiming to bring …

OPEC+ ministers are likely to discuss pausing a planned oil output hike in January as one option during ministerial talks today, Dec. 2, Reuters reported, citing a source. The meeting will also discuss whether more oil will be released to the market as planned or supplies will be restricted after …

The Ukrainian position is that since Nord Stream 2 is not compliant with EU rules, it should not be certified, the CEO of Ukraine’s gas and oil state company Naftogaz Yuriy Vitrenko told a conference in Brussels on Wednesday (1 December) organised by EURACTIV Bulgaria. The conference, titled “Nord Stream …

The Organization of the Petroleum Exporting Countries (OPEC) will meet on Wednesday, ahead of a meeting of OPEC+ on Thursday, to discuss a response to the threat of a hit to fuel demand from the Omicron variant. Some analysts expect OPEC+ to pause plans to add 400,000 barrels per day …