International

Turkmenistan on Friday announced that it intended to start building a gas pipeline from the Turkmenistan-Afghanistan border to the Herat offtake point in Afghanistan. Turkmenistan also assured Pakistan of addressing its concerns over different issues pertaining to the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. Special Assistant to Prime Minister on Petroleum …

Oil prices rose for a fourth day in a row on Friday, putting crude on track for a weekly gain of about 10 per cent, after Saudi Arabia pressed allies to stick to production quotas and banks, including Goldman Sachs, predicted a supply deficit. Brent crude was up 18 cents …

Iraq’s commitment to a recent agreement by the Russian-led OPEC+ group will deprive the country of 750,000 barrels of oil per day (bpd), the former Iraqi oil minister warned yesterday. “OPEC+ deal would incur $50 billion in losses over the next two years,” Ibrahim Bahr Al-Ulloum told Russia Today (RT). …

China’s offshore oil and gas major CNOOC Ltd announced on Tuesday that its first offshore wind power project has connected to the grid and begun to generate power The wind power project, located in the sea area nearby China’s eastern province of Jiangsu, and with a total installed capacity of …

OPEC revised down by another 400,000 bpd its forecast for global oil demand this year, expecting consumption to shrink by 9.5 million bpd over 2019, cutting forecasts for the second month in a row as risks with the pandemic and economic activity remains skewed to the downside. In its Monthly …

It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global oil markets. Instead, the Organization of Petroleum Exporting Countries and its allies will convene online, and reflect on whether the coranavirus has thwarted their best …

Saudi Arabia has been encouraging members of the Organisation of the Petroleum Exporting Countries (OPEC) and other producers such as Russia, known as OPEC+, to increase output in the face of the coronavirus pandemic, the Financial Times reports on Wednesday. According to report, Saudi Arabia plans to keep oil production …

Iraq’s semiautonomous Kurdish region could not comply with Baghdad’s request to cut output by 120,000 b/d due to financing needs, but implemented a lesser reduction, a Kurdish minister told Iraq’s state-run TV Sept. 9. The Kurdish region has cut output by 50,000 b/d at 410,000 b/d, Minister of State Khalid …

Iraq’s federal government has requested that the Kurdistan Regional Government (KRG) cut its oil production by 120,000 barrels per day (bpd), Iraq’s state news agency INA quoted a KRG minister as saying on Wednesday. The semi-autonomous Kurdistan Region of Iraq’s domestic oil consumption is at 30,000 bpd, INA quoted Khaled …

Iraq is in talks with ENI to build a 300,000 b/d refinery at an estimated cost of $4 billion near the Zubair oil field operated by the Italian company in the southern part of the country, the oil minister told a webcast with Jordan-based Iraqi Business Council. The first phase …