International

The Organization of the Petroleum Exporting Countries (OPEC) stated that the scenario provided in the International Energy Agency’s (IEA) report could affect companies’ investments and demand for oil, Reuters reported. According to the report, investors should not fund new oil, gas, and coal supply projects if the world wants to …

U.S. energy firms added oil and natural gas rigs for a fourth week in a row as higher oil prices prompt some drillers to return to the well pad. The oil and gas rig count, an early indicator of future output, rose two to 455 in the week to May …

The Biden administration plans to waive sanctions against an ally of Russian President Vladimir Putin who heads the company that is building the Nord Stream 2 gas pipeline from Russia to Germany, two people with knowledge of the move said Tuesday. The move to invoke a national security waiver for …

RF President Vladimir Putin had a working meeting with Leonid Mikhelson, Chairman of the Management Board of Novatek. They discussed the company’s performance in 2020, current activities and development plans, the Kremlin press office reports. Mikhelson briefed the President on the implementation of the Arctic LNG 2 project and the …

OPEC’s oil exports have jumped by 1 million barrels per day (bpd) so far in May, while the OPEC+ group started easing the production cuts by 350,000 bpd this month, tanker tracker Petro-Logistics said on Monday. At the ministerial meeting in early April, the OPEC+ group decided to gradually return …

Recent news reports were replete with Iraq declaring its willingness to invest $15 billion into new gas-focused projects that could reduce its reliance on one of Baghdad’s long-standing problems, its gas imports. Baghdad has committed to an ambitious timeline of reaching self-sufficiency by 2024-2025, with several large-scale projects being developed …

The U.S. Energy Information Administration(EIA) has announced on Saturday a surge in Iraqi oil exports to the U.S. to up to 235,000 barrels per day, surpassing last week’s Saudi exports. According to a report released by the EIA, “Last week’s U.S. imports of crude oil from 9 different countries amounted …

The United States has partnered with India on climate change so as to help it meet its commitment to deploy 450 gigawatts (GW) of renewable energy, the Biden administration’s climate change envoy has told US lawmakers. “Prime Minister (Narendra) Modi has made a commitment to deploy 450 GW of renewable …

Saudi Arabia will export full crude oil volumes to at least four Asian clients next month, Reuters has reported, citing unnamed sources familiar with the situation. Saudi Aramco and its Asian buyers use standard contracts, under which either side can trim or boost orders by a margin of 10 percent …

North America’s biggest petroleum pipeline is in a race against time to overcome a cyberattack that’s frozen fuel shipments before regional reserves of gasoline, diesel and jet fuel run dry. Colonial Pipeline said segments of its Texas-to-New Jersey line are being brought back online in steps, and substantially all service …