International

A group of around 40 deputies of the European Parliament has submitted a letter to the European Commission (EC) urging it to investigate from the viewpoint of the EU’s antimonopoly norms Gazprom’s actions that allegedly pushed gas prices up to a record level in Europe, a source in the European …

On Thursday, Libya’s National Oil Corporation (NOC) announced the resumption of export operations at the Es Sider and Ras Lanuf oil terminals, after several demonstrations. The NOC said in a statement that Chairman, Mustafa Sanalla held talks with local elders who had helped to end the protests. Protesters at those …

The world’s top oil importer, China, has reduced its crude imports by 5.7% since the start of 2021, but boosted natural gas purchases by over 20%, a report from the country’s State Statistical Office says. From January to August, China imported 346.36 million tons of oil, which is 5.7% less …

Saudi Arabia’s crude oil exports in July rose to their highest since January, the Joint Organization Data Initiative (JODI) said on Sepy. 16. The Kingdom’s crude oil exports rose to 6.327 million barrels per day (bpd) in July, up from 5.965 million bpd in June. Total exports including oil products …

China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move that Bloomberg called “an unprecedented intervention.” Indeed, this was the first time China announced the sale of oil from its strategic reserve. …

When it comes to pricing its crude, Iraq’s tried and tested approach has long been to closely follow whatever Saudi Arabia does. Next month, Baghdad is deviating from that path — posing an intriguing question as to why — by announcing sharp cuts, writes Bloomberg oil strategist Julian Lee. Iraq …

Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. The nation’s Basrah Light barrels will be sold at a discount of $1.15 per barrel to a regional benchmark …

Iraq’s Oil Minister Ihsan Abdul Jabbar announced Saturday that Iraq would rely on green energy to invest in gas and produce renewable energy. During his participation at a workshop organized by the International Energy Organization (IEA), the Minister stressed the government and ministry’s keenness on supporting clean energy projects. This …

Brazil is expected to contribute about 48% (1.35 MMb/d) of the Americas crude and condensate production in 2025 from upcoming projects (excluding the US L48), according to GlobalData. The company’s latest report, ‘Americas Upstream Development Outlook, 2021–2025’, reveals that 1.164 MMb/d of crude and condensate production in Brazil in 2025 …

OPEC trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant on Sept. 13, saying a further recovery would be delayed until next year when consumption will exceed pre-pandemic rates. The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly …