International

The US Energy Administration announced on Sunday that the rate of Iraqi oil exports to America reached 230 thousand barrels per day during the first half of 2020. The administration said in a report, “the average Iraqi exports of crude oil to America during the first six months of this …

Production of oil and gas condensate in Russia is projected at 507.4 mln tonnes in 2020, a 9.5% decrease compared with 2019, whereas gas output is expected to drop by 6.4% to 690.8 bln cubic meters, according to the country’s social and economic development for 2021 and the planned period …

Iraq’s oil minister Ihsan Abdul Jabbar expects an agreement with the OPEC+ group to increase Iraq’s crude oil exports, state news agency INA cited him as saying on Thursday. The agency was quoting the minister’s comments to state-owned newspaper Al-Sabah. It did not give more details.

The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it. Exploration is not …

Chinese President Xi Jinping says his country will aim to stop adding to the global warming problem by 2060. Xi’s announcement during a speech Tuesday to the UN General Assembly is a significant step for the world’s biggest emitter of greenhouse gases. Calling for a “green revolution,” Xi said the …

The United States has nearly halved its anti-dumping tariffs on oil pipeline products from South Korean steelmakers, industry sources said Tuesday. The US Department of Commerce has decided to levy a tariff of 4.23 percent to 9.24 percent on South Korean oil pipelines, far lower than the 2018 ruling of …

Libya’s state-owned National Oil Corp. expects its production to rise to 260,000 b/d during the week starting Sept. 27 following the lifting of force majeure and the end of an eight-month blockade on its oil infrastructure imposed by the self-styled Libyan National Army. The first two ports to resume operations …

Libya is expected to resume production from fields and export crude from ports that are secure, said the country’s state oil company. The National Oil Corporation said a force majeure in place will be eased across “oilfields and ports that are secure”. Force majeure refers to an unforeseen event outside …

Workers at Libya’s major Sharara field have restarted operations, two engineers working there said, after National Oil Corporation (NOC) announced a partial lifting of force majeure. They said flaring had restarted at the field and shared a video of it, and added that engineers had been returning to the area …

The International Energy Agency (IEA) has trimmed its 2020 oil demand forecast on Tuesday, citing caution about the pace of economic recovery from the pandemic. Oil prices slumped further below $40 per barrel on Monday, close to their lowest in over 2 months, as some oil firms like British Petroleum …