International

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 …

Russia and OPEC-kingpin Saudi Arabia are reportedly mulling to delay an increase in oil production in January, maintaining an output cut aimed to raise oil prices as demand has weakened due the coronavirus pandemic. Russia and the Organization of Petroleum Exporting Countries held their annual talks on November 2 with …

China plans to further increase oil and gas exploration and accelerate the construction of more oil and gas storage infrastructure, state news agency Xinhua reported. Last week, China’s Communist Party adopted the principles of the five-year development plan 2021-2025. China will also aim to build more oil and gas pipelines, …

Three members of OPEC and Russia are in favor of an extension of the current oil production cuts agreed by OPEC+ in April this year, Iraqi news agency Shafaq has reported, citing Algeria’s Energy Minister, Abdelmadjid Attar. According to the report, Attar said the oil market was facing a perilous …

Gulf OPEC producers the United Arab Emirates and Kuwait, as well as Iraq, are debating whether they should roll over existing oil supply cuts into 2021, as they struggle to stick to their agreed reductions, OPEC and industry sources said. Their hesitance raises the possibility of reviewing output targets when …

The COVID-19-induced shortage in key oil investments could spell trouble for the entire industry for years to come. Thirty-five percent: this is the size of the spending cuts oil and gas companies are likely to have made this year in response to the effects that the coronavirus pandemic is having …

Aside from economic growth during a global pandemic, China appears to be also projecting an increase in natural gas demand this winter while other major Asian powers’ gas demand is either expected to remain flat or increase only incrementally. On Thursday, the country’s three state-run oil majors said that China’s …

The Kurdistan Region Government in Iraq declared a halt to all oil exports on Friday after experiencing an attack on a crude oil pipeline earlier in the week. The pipeline suffered an attack on Wednesday, disrupting the flow of crude. The KRG-controlled area of Iraq manages oil exports through the …