International

Iraq’s Oil Minister Ihsan Abdul said Lukoil PJSC sent him a notification to sell its stake in the West Qurna-2 field to Chinese companies, and that BP Plc wants to pull out of the giant Rumaila field. In a video posted on a Facebook page under his name, the minister …

Turkey will carry on exploring for oil and gas in the eastern Mediterranean, President Tayyip Erdogan said on Friday in comments that may revive tensions with the European Union and Greece amid attempts to repair their frayed ties. Turkey is at odds with EU members Greece and Cyprus over energy …

The meeting of the OPEC+ ministerial monitoring committee and the OPEC+ ministerial meeting will be held on Friday, July 2, the OPEC Secretariat said in a statement. As sources told TASS earlier, the ministers failed to reach an agreement on productions levels from August at Thursday meeting and decided to …

The oil and gas industry is embracing new technologies to save time and costs and, most recently, to reduce the carbon footprint of its supply chain as the energy sector is under increased pressure to reward shareholders while helping to fight climate change. Along with artificial intelligence, machine learning, digital …

Saudi Arabia plans to launch a second national airline, Crown Prince Mohammed bin Salman (MBS) announced Tuesday as part of a broader plan of diversifying the oil-dependent kingdom’s economy by making the country a global logistics hub. The creation of another flag carrier would catapult Saudi Arabia into the 5th …

According to these sources, Russia has been producing some 10.42 million bpd of crude oil and condensates since the start of the month, which is lower than May’s average of 10.45 million bpd. The reason for the decline could be related to difficulties with boosting production at older fields, other …

An OPEC+ panel has warned of “significant uncertainties” and the risk of an oil glut after April 2022, according to an internal report, building a case for extending the current deal that has maintained curbs on supply. A 3D-printed oil pump jack is seen in front of displayed OPEC logo …

Basrah Gas Co. — a joint venture between Iraq’s state-owned South Gas Co., Shell and Mitsubishi Corp. — will receive a $360 million from the World’s Bank’s private sector financing arm to help OPEC’s second largest producer reduce gas flaring from its southern oil fields. The International Finance Corp. and …

Oil revenues for Libya reached record levels last May, as they recorded 1.322 billion dollars in crude oil and 53 million dollars in gas and condensates, the National Oil Corporation (NOC) announced on Sunday. The corporation said that net revenues for the month of May from sales of crude oil, …

India, the world’s third-biggest oil importer, has significantly reduced its imports from the Middle East as part of a drive to diversify crude sources. The share of Middle Eastern crude in India’s oil imports fell to a 25-month low in May, tanker data provided by trade sources showed, as refiners …