International

OPEC and its allies can celebrate their success in steadying world oil markets when they gather this week. But the coalition will soon be faced with some tough choices. Last month’s pledge by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman to slash production by a further 1 million barrels …

OPEC and its partners expect that the agreed oil-supply curbs will reach 99 percent in January, Bloomberg reported, citing an unnamed delegate. The implementation among the OPEC members was at 103 percent, while it reached 93 percent for non-OPEC partners, including Russia and Kazakhstan, last month. The compliance data is …

OPEC and its partners estimate they implemented 99% of their agreed oil-supply curbs in January, according to a delegate who asked not to be named. The 23-nation alliance known as OPEC+ aimed to withhold 7.2 million barrels a day of crude from the market this month — about 7% of …

Saudi Crown Prince Mohammed bin Salman said Thursday the kingdom will sell more shares of energy giant Aramco in the coming years, following the world’s biggest public listing in 2019. “There will be Aramco share offerings in the coming years, and this cash will be transferred to… the Public Investment …

Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, has held discussions with the General Manager of Total regarding the use of renewable energies in the Libyan oil sector and the impact of lack of budgets on production, as well as development programs. This meeting highlighted the implications of the …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 115 thousand bpd. EIA stated in a report, “The United States oil exports recorded 4.616 bpd in the third week of January.” The top three source countries of U.S. import oil …

Russia’s gas production will be growing through 2030 and is expected to total from 846 bln cubic meters to around 1.03 trillion cubic meters in 2030, according to the draft general plan for development of the country’s gas sector through 2035 obtained by TASS. Russia produced 739 bln cubic meters …

Russia plans to cut its seaborne oil exports from its western ports to a three-month low in February as the country diverts crude into its local refineries to help tackle record fuel prices. The world’s second-largest exporter will cut overseas shipments of Urals crude by almost 20% in February, according …

Saudi Arabia is planning to introduce new ways of oil and gas exploitation, Minister of Energy Prince Abdulaziz bin Salman said, during a ceremony to launch the energy ministry’s new identity today, Jan. 25. The Kingdom is working under the hydrocarbon demand sustainability program, seeking to replace oil petroleum liquids …

Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude. OPEC’s second-biggest producer will pump around 3.6 million barrels daily for the two months, according to Ali Nizar, the deputy …