International

Arab economies are expected to grow by 5% in 2022, supported by the increase in oil production and its prices in international markets and the continuation of stimulus packages to support economic recovery, said the Arab Monetary Fund (AMF) in a new report. In 2023, the growth of Arab countries …

The price of some Middle Eastern oil has climbed after buyers snapped up cheap cargoes as calm returned to Asia’s physical market. The spot differential for cargoes of Abu Dhabi’s Murban crude scheduled to be loaded in June increased more than $1 a barrel in less than a week, according …

The U.S. government, under pressure to lower gas prices, announced on April 15 that it will resume the sale of leases for oil and gas drilling on federal lands while imposing new conditions, including the first hike in royalties in more than 100 years. Shortly after coming to office in …

Libya’s National Oil Corporation (NOC) on Sunday declared force majeure on oil exports from the El-Feel oilfield in the country’s southwest. In a statement, the state-owned company said oil production was halted until further notice after a group of people entered the facility and prevented employees from working. It did …

Iraq’s cabinet may reactivate a deal with Halliburton Co. to drill wells in a western gas field in Akkas next month, Oil Minister Ihsan Abdul Jabbar said. An agreement with Halliburton would enable the oil ministry to get clear data on the production capacity of the Akkas field and it …

Some of Russia’s natural gas customers have agreed to pay in rubles for Russian gas, Deputy Prime Minister Alexander Novak said on Friday. Last month, Vladimir Putin said that “unfriendly” nations should pay in rubles for natural gas. Russia had set a March 31 deadline for the countries it considers …

Japan plans to step up its investment role in upstream projects for liquefied natural gas (LNG), to spur new development and boost fuel offtake by its companies, the industry minister said on Friday. Investment in new LNG development worldwide has dropped significantly as a global trend toward decarbonisation grows, although …

Back in early February, reports were mounting that Russia was preparing to invade Ukraine. Videos of Russian troops training, working out, and preparing for battle were circulating around the internet, and Vladimir Putin was giving veiled and vague warnings and threats of the impending war. As it became clear that …

Libya can raise its natural gas production by 30 percent with an investment of up to $1 billion, Italy’s Ambassador to Libya, Giuseppe Buccino, said at a round table discussion at the LUISS University in Rome this week. If Libya manages to overcome political disputes, it would have more stability …

At the first-ever conference devoted exclusively to carbon-free hydrogen in the Middle East and North Africa (MENA), participants looked in depth at the technical and financial complexities of getting major projects off the ground. They covered projects announced by various consortiums worldwide, all in early-stage development. An exception appeared in …