International

No single form of energy can currently meet expected future energy demand; instead, an “all-peoples, all-fuels and all-technologies” approach is required, said OPEC Secretary General Haitham Al Ghais, Trend reports. “As such, OPEC member countries are ready, willing and able to provide the affordable energy needed to cater towards these …

Iraq, OPEC’s second largest exporter, has had its crude oil supplies to the US, the world’s second largest importer, decreased, data by the Energy Information Administration (EIA) showed this weekend. In the span of a week, the volume dwindled from 283,000 barrels daily to a mere 232,000 barrels — a …

Iraq’s State Oil Marketing Organization (SOMO) has reported a rise in its exports to Jordan for August, with the price of a barrel standing at $70.22. With this price tag, Iraq has offered Jordan a discount of $13.13 per barrel, given that the official selling rate declared by Iraq’s Ministry …

Crude oil production from the OPEC alliance actually climbed in August by 40,000 bpd, according to a new survey published by Bloomberg on Friday. Saudi Arabia’s output may have fallen in August by 170,000 bpd, according to the survey, but Nigeria and Iran’s production increased, largely offsetting Saudi Arabia’s cuts. …

Canada’s oil and gas companies have managed to boost production from conventional resources while reducing carbon dioxide and methane emissions over the decade to 2021, the industry association CAPP has reported. Between 2012 and 2021, CAPP said, Canada’s oil and gas producers increased their total conventional hydrocarbon output by 21%, …

Kazakhstan is buying tankers to transport its oil through the Caspian and Black seas. Thus, the country can look for an alternative to the main export pipeline through the Russian Federation. A division of the state-owned company “KazMunayGaz” has already purchased two tankers with a deadweight of 8,000 tons each …

Egypt plans to drill 35 new natural gas wells in the Mediterranean Sea and the Nile Delta in the next two fiscal years to boost its production. The country already drilled 10 natural gas wells during the fiscal year 2022-2023, which ended on June 30, 2023, Tarek El-Molla, Egyptian Minister …

Turkey is in the process of brokering a deal between the central Iraqi government and the authorities of the semi-autonomous Kurdistan region on sharing the revenues from crude oil production in the northern Iraqi region. The deal, according to Bloomberg, which cited unnamed Turkish officials, would help resume the operation …

The Indian government has formally called on Iraq to provide further concessions on oil prices, drawing parallels with the low-cost Russian crude that has emerged as India’s primary oil source since May 2022, displacing Iraq from its longstanding position. In a strategic move to diversify their oil imports and curtail …

Basra crude oil prices experienced a week of subtle downturns in response to worldwide market fluctuations. While some benchmarks reflected momentary gains, the overarching trend was marked by a fractional decline, primarily influenced by a blend of economic data and production adjustments. Basra Heavy crude concluded its Friday trading session …