In the region, work is under way to drill new, deeper wells, Trend reports citing turkmenian media. At the same time, productive wells are transferred to the gas-lift method of operation. The work carried out significantly contributes to an increase in the volume of oil produced here. The total volume …
Read More »Iraq Exports about Four Million Barrels of Oil to South Korea in the Past June
South Korean Data showed, on Saturday, that Iraqi oil exports to South Korea are 3.872 million barrels in last June. The Data stated that “The South Korea oil imports is 80.165 million barrels (2.67 barrels per day.)” The top four source countries of South Korean import oil are Saudi Arabia …
Read More »Saudi Arabia to Use 4IR to Transform Energy Sector, Fight Climate Change
Saudi Arabia is aiming to use Fourth Industrial Revolution (4IR) technology to fundamentally transform the energy sector, enhance the security of its water and food resources, and fight climate change, senior ministers announced. “Our vision is to transform the energy sector through the application of data and technology,” Saudi Energy …
Read More »Basra Light Drops but Remains on Top of a OPEC Crudes
Basra’s light crude exported to Asia registered $75.14 a barrel, 0.49% below the previous session’s price. The price of a Basra heavy crude barrel rose to $70.05 a barrel, up by 0.17%. The Saudi Arab light crude closed at $75.13 a barrel, while Iran’s heavy settled $69.54 a barrel. UAE’s …
Read More »Russia Ramps up Its Hydrogen Energy Ambitions
Russia is building on its 2020 roadmap for hydrogen production over the next decade, announcing a new working group to coordinate the country’s hydrogen production and exportation projects. With the development of a new working group, by Russian Prime Minister Mikhail Mishustin, to coordinate hydrogen projects, Russia appears to be …
Read More »U.S. Offshore Rig Count Stays Flat for Two Straight Weeks
The number of active offshore rigs in the U.S. remained stuck at 17 for the second week in a row, according to weekly rig count reports by Baker Hughes. Baker Hughes Rig Count: U.S. +7 to 491 rigs U.S. Rig Count is up 7 from last week to 491 with …
Read More »OPEC+ Compromise Deal still Favours Saudi and Russia
Saudi Arabia and Russia have clinched a deal for an OPEC+ production increase by partly submitting to the United Arab Emirates’ demands for a more generous quota. But the compromise still leaves Riyadh and Moscow on top. Of all the adjustments agreed recently to the group’s baselines – the level …
Read More »Russia Is Finally Embracing the Electric Vehicle Boom
Late in the race, Russia has recently announced investments targeting electric vehicle (EV) growth in an attempt to catch up with the transition across the rest of Europe. Russia is expected to start work on its EV infrastructure creation, starting in Moscow. The city plans to install 200 EV charging …
Read More »Nord Stream 2 will Help Russia to Further Arm Itself
Polish Prime Minister Mateusz Morawiecki said he disagreed with the position of the United States and Germany on the issue of the Nord Stream-2 gas pipeline. The head of the Polish government noted that Poland’s allies, including Germany and the United States, “selfishly approached the issue of building this gas …
Read More »China Wants a Piece of The $30 Billion Shipping Fuel Market
China has been raising its marine fuel sales in recent years, aiming to grow its share of Asia’s large bunkering market, which is valued at more than US$30 billion and is dominated by Singapore, Bloomberg reports. Singapore, the leader of the bunkering market, sold nearly 50 million tons of marine …
Read More »