International

Syrian Oil Minister Bassam Toma’a has revealed that around 90 per cent of Syrian oil is under the control of US forces, Aram News Network reported on Friday. “The Americans and their followers are acting like pirates as they are targeting the Syrian oil wealth and oil supplies,” the Syrian …

With oil prices making steady gains earlier this year, OPEC and other producers had hoped to ease output cuts, but industry sources say a fresh wave of lockdowns around the world threatens to tear up those plans. The OPEC+ group of producers, which are holding back millions of barrels of …

India is trying hard to woo foreign investors as the nation tries to rebuild from its worst economic contraction on record. Hit particularly hard by the COVID-19 pandemic, the Indian economy is projected to record a 7.7 percent decline in the financial year ending this month–the single largest drop in …

The Iraqi cabinet on Tuesday approved a deal to award U.S. company Schlumberger Ltd a $480 million deal to drill 96 oil wells in the south, according to a statement. Iraq, OPEC’s second-largest producer, relies on oil exports for nearly all its state revenue.

The U.S. is maintaining the pressure on Germany over a new gas link to Russia, with Secretary of State Antony Blinken insisting the Nord Stream 2 pipeline runs counter to the interests of the European Union. “It’s in contradiction to the EU’s own energy security goals,” Blinken told reporters in …

Global demand for liquefied natural gas will grow to 700 million tons annually by 2040 from 360 million tons last year, Shell said in its LNG Outlook 2021. As much as 75 percent of this demand growth will come from one regional market: Asia. Asian economies have been a key …

Saudi Aramco will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy sources run in parallel for some time, chief executive officer Amin Nasser told the China Development Forum on Sunday, March 21. Saudi Arabia, the world’s biggest oil …

On the eve of talks with Turkey’s president and a key EU summit, the bloc is holding back on sanctions on more Turkish oil company officials, according to media reports. “Work has stopped on additional blacklistings of Turkish individuals, and we are not talking of economic sanctions anymore,” the Reuters …

Saudi Arabia’s energy ministry said it had contained a fire following a March 19 drone attack on its Riyadh refinery, with no interruption to oil supplies and no casualties, in the latest strike claimed by Yemen’s Iranian-backed Houthi rebels. The Houthis had earlier announced a hit on an unspecified Saudi …

Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May, in an escalating stand-off with Riyadh following OPEC’s decision to ignore calls from New Delhi to help the global economy with higher supply. Two sources familiar with the discussions said the move …