Committed gas investments in the Middle East and North Africa (Mena) region for the period 2021-2025 are expected to total $75bn, Arab Petroleum Investments Corporation (Apicorp) said. Qatar, Saudi Arabia, and Iraq are the “top three Mena countries in terms of committed gas investments”, the multilateral development financial institution said …
Read More »Norway’s Oil Fields to Run on Green Power as They Export Carbon
Norway is trying to make its dirtiest industry as clean as possible. The multi-billion-dollar plan will do little to reduce the nation’s overall climate impact. The Nordic country will use land-based green hydropower to electrify dozens of offshore oil and gas platforms. That will help meet national climate targets, and …
Read More »Eleven EU Countries Call to Ban Fossil Fuels from Trans-European Energy Infrastructure
Eleven EU countries have signed a declaration calling on the European Union to stop funding fossil fuels under its trans-European energy infrastructure regulation (TEN-E), which is currently under revision. The non-paper – EU jargon for an informal document – follows discussions in Brussels on Wednesday (5 May) about the contribution …
Read More »High Global Demand Sends Russian Urals Crude Oil Price Soaring
Russia’s Ministry of Finance said on Wednesday that the average price for domestic Urals oil benchmark stood at $62.50 per barrel in April, which is a 340% increase in annual terms. According to the ministry, in the first four months of the year the average price for the Russian export …
Read More »US, Germany Having No Single Assessment for Nord Stream 2
The Nord Stream 2 gas pipeline is among matters having no common assessment in the Trans-Atlantic aspect, German Chancellor Angela Merkel said at an online conference on Wednesday. “It is important to speak also in future about matters probably having no common assessment in the Trans-Atlantic partnership. The topic of …
Read More »Iraq may Buy Exxon Stake in West Qurna 1
Press reports quote Iraq’s oil minister as saying that Iraq could buy ExxonMobil’s 32.7-percent stake in the West Qurna 1 oil field. Ihssan Abdul-Jabbar Ismail told a news conference on Monday that the government might purchase the stake via the state-owned Basra Oil Company (BOC). BOC previously took over the …
Read More »Iraq to Invest $3bn in Basra Gas Company
Iraq’s Oil Minister, Ihssan Abdul-Jabbar Ismail, has said that Iraq will invest $3 billion in the Basra Gas Company (BGC) over the next five years, as it pushes ahead with plans to increase gas production. The money will fund projects intended to increase BGC’s gas production capacity from 1,000 to …
Read More »Iraq to Invest $3bn in Basra Gas Co. over Five Years
Iraq plans to invest $3 billion in the Basra Gas Company over the next five years, the Iraqi News Agency reported on Monday. “The aim is to increase gas production capacity by 40 percent as we seek to reach 1,400 million cubic meters of gas,” Oil Minister Ihsan Abdul Jabbar …
Read More »US Sanctions do not Affect Russian Oil Supplies to Belarusian Refineries
The Russian oil is being supplied to Belarusian refineries as normal, Belarusian Prime Minister Roman Golovchenko said in an interview aired by the Belarus-1 TV channel on Sunday, adding that the US’ sanctions do not affect the supplies. “In accordance with the decision that has been taken, the sanctions cover …
Read More »Qatar Is Growing Market for Turkish Contractors
On the back of developing political and economic relations between Qatar and Turkey, the LNG-rich Gulf state has been a growing market for Turkish contractors since 2014, an official of a Turkish consultancy firm has said. Citing data by Engineering News Record, Cigdem Ulug Kutlu, partner Shedu Consulting & International …
Read More »