International

The Arabian Gulf Oil Company (AGOCO), a subsidiary of Libya’s National Oil Corporation, has successfully activated a new oil well in the Sarir field on 17 January. The well, designated L096, commenced operations following the completion of essential mechanical and electrical infrastructure works. AGOCO officials report the new installation will …

U.S. President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most U.S. coastal waters as he made sweeping moves his first hours in office to unleash American energy development. Trump’s move came as part of a broad assault on executive orders issued by former …

One week into the latest – and most aggressive yet – U.S. sanctions on Russian oil exports, the Asian buyers of Russian crude are scrambling for alternative supply, the price of oil has rallied, and analyses suggest that more than 1 million barrels per day (bpd) of Moscow’s export volumes …

The director of the state-run Basra Oil Company (BOC), Bassem Abdul-Karim Al-Shamkhani, revealed on Thursday that Iraq and the world’s second-largest oil service company, Halliburton, almost finalized an agreement to develop the Nahr Bin Umar oilfield in the southern part of the country. The Iraqi Ministry of Oil and Halliburton …

Russia’s exports of refined oil products by sea declined by 9.1% in 2024 from a year earlier, due to low processing rates, drone attacks knocking out refineries, and export bans, Reuters reported on Friday, citing industry data. Russia shipped a total of 113.7 million metric tons of refined petroleum products …

During the Covid-19 pandemic, when oil prices fell to a record low, millions of oil and gas jobs were cut worldwide. This was owing to a decrease in oil and gas operations due to work and movement restrictions, as well as many companies going bankrupt. During this time, several oil …

The world’s biggest importer of coal, China, has widened its lead over the second-largest buyer, India, to the highest in more than a decade, according to customs data compiled by Reuters. Last year, Chinese imports rose while India’s fell, widening the gap between China and India in coal buying, according …

Greece is urging the EU to move faster to address the high power and natural gas prices in the bloc that undermine its competitiveness alongside burdening households, Greek Prime Minister Kyriakos Mitsotakis wrote in a letter to European Commission President Ursula von der Leyen seen by Bloomberg News. European wholesale …

Moscow on Saturday accused the United States of being ready to risk global energy instability with new sanctions on Russia’s energy sector, including industry majors such as Gazprom Neft, which were announced earlier on Friday. The U.S. and the U.K. on Friday announced new sanctions against Russia’s energy sector, including …

After decades of low interest in Libya’s oil and gas sector due to sanctions and the civil war, a possible new chapter could open in 2025. Based on the potential tender by the Libyan National Oil Company (NOC) for 22 onshore and offshore exploration blocks, expectations are high that international …