International

China is making a major power play to expand its global energy influence. The United States has long played an outsized role in global geopolitics and energy markets thanks to the shale revolution which jettisoned the country to the top of the fossil fuel food chain. But if you’ve been …

Libya will not join OPEC quotas until its production stabilises at 1.7 million barrels per day (bpd), a Wall Street Journal reporter tweeted here, citing National Oil Corp chief. Libyan oil production could reach 1.3 million bpd within a month, NOC’s Mustafa Sanalla told the Journal. OPEC-member Libya is exempt …

Every new crisis is a formidable opportunity to try new things, oftentimes merely to have another go with methods that have failed in the past but should work better now. Cognizant of the pricing developments in the Asian market, the Iraqi state oil marketing company SOMO has announced that from …

Saudi Arabia will miss more than 100 billion riyals (over $27 billion) in 2020 due to the fall in crude-oil prices this year amid the COVID-19 pandemic, Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has said. “According to the 2020 budget projections presented last year, government revenues …

Iraq and Saudi Arabia have agreed to coordinate positions within OPEC and cooperate in the energy sector, according to a joint statement following the work of the two countries’ coordinating council. On Tuesday, Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud held a videoconference with Iraqi Prime Minister …

Oil prices dropped on Tuesday as concerns over demand in the near term in Europe and the United States returned to haunt the market after an overnight surge on progress towards a COVID-19 vaccine. U.S. West Texas Intermediate (WTI) crude futures fell 60 cents, or 1.5%, to $39.69 a barrel …

OPEC and its allies could “tweak” their supply accord beyond analyst expectations, Saudi energy minister Prince Abdulaziz bin Salman said Nov. 9, as speculation swirls on how the coalition will set its 2021 production quotas. Emphasizing that the OPEC+ alliance will maintain flexibility, the prince said ministers have several options …

Deepwater oil and gas production remains a key trend in the energy sector, and global cooperation on deep-water exploration needs to be enhanced to reduce costs against a backdrop of low oil prices, Chinese oil and gas experts said at China Energy Week 2020, a conference jointly held by the …

The Minister of Oil, Ihssan Abdul-Jabar, confirmed on Sunday the government’s keenness to strengthen bilateral relations with Saudi Arabia in a way that serves common interests. This came on the sidelines of launching work of the Iraqi-Saudi committee in the capital, Baghdad Abdul-Jabbar said in a statement, “this meeting comes …

The Iraqi Ministry of Oil announced on Saturday that one of its priorities is to develop investment projects for associated and free gas. Oil Minister, Ihsan Abdul-Jabbar, said in a statement, “serious work is being done in implementing these projects despite the financial and economic challenges and difficulties, with cooperation …