International

Iraq’s Oil Minister Ihsan Abdul-Jabbar Ismail has said that the Iraqi National Oil Company (INOC) has opened a dialogue about gas exploration in the Western Desert in Anbar Governorate. The company involved was not named, but was described as “one of the major international companies”. The Minister said Iraq is …

Japan is focusing on its neighbors in Asia as it hopes to take a leadership role in the growing push to reduce emissions, having earmarked $10 billion to help the region speed up the move away from fossil fuels. The Economy and Industry Ministry hosted the first “Asia green growth …

The start of operations by the Nord Stream 2 gas pipeline in the fourth quarter of this year could drive natural gas prices in Europe down to their lowest levels, Saxo Bank forecasts. On Monday, Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline, announced the …

The Kremlin won’t prejudge any outome of the coming regular video conference of the OPEC+ ministers, Kremlin spokesman Dmitry Peskov told reported on Monday. “Traditionally we would not like to prejudge any outcome of such a meeting,” he said responding to a relevant question. When asked if the Russian President …

The energy crunch in China has some obvious winners, with coal and liquefied natural gas (LNG) prices surging to record highs, but the outlook for other commodities is more mixed and dependent on how the crisis plays out. China’s officials have been scrambling in recent days to ensure that the …

The Organisation of Petroleum Exporting Countries (OPEC), saw a sharp decline in its global crude export in 2020, following disruptions occasioned by the COVID-19 pandemic. According to available data, OPEC member countries exported an average of 19.70 million barrels a day, mb/d of crude oil in 2020, a sharp decrease …

Qatar ordered four new liquefied natural gas tankers worth more than 2.8 billion rials ($762 million) from a Chinese shipbuilder, as demand for the fuel booms. State energy firm Qatar Petroleum said Sunday the vessels will be built by Hudong-Zhonghua Shipbuilding Group Co., a subsidiary of China State Shipbuilding Corp. …

Petrodollars are once again flowing in for Saudi Arabia. The kingdom is earning more money from oil exports than at any time since 2018, as the global economic recovery and OPEC+ production cuts boost prices. The producers’ cartel meets on Monday and has signaled it will continue with a gradual …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq did not export any oil to the United States in the past week. EIA stated in a report, “U.S. imports oil 5.389 million bpd in the past week.” The top three source countries of U.S. import oil are Canada …

Russian oil and gas condensate output rose to 10.72 million barrels per day (bpd) in September, the highest level since the 11.34 million bpd pumped in April 2020, Reuters calculations based on an Interfax report showed on Saturday. Total oil and gas condensate production was 43.86 million tonnes last month, …