International

Oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorised exports. The March 23 arbitration ruling by the International Chamber of Commerce (ICC) ordered Turkey to pay Baghdad damages of $1.5 …

OPEC+’s recent announcement of new output cuts this year will deepen an expected supply deficit in the second half of the year and risks higher prices as China’s economic rebound continues to drive growth, the International Energy Agency said April 14. OPEC+ on April 2 announced a surprise “precautionary move” …

Turkey still hasn’t resumed the flow of crude oil from Iraq, with 450,000 bpd in Iraqi oil exports still offline, anonymous sources told Reuters on Friday. The International Chamber of Commerce (ICC) ruled three weeks ago that Turkey must pay Iraq $1.5 billion in damages for receiving oil from the …

The total number of total active drilling rigs in the United States fell by 3 this week, according to new data from Baker Hughes published Friday, after falling 4 last week. The total rig count fell to 748 this week—55 rigs higher than the rig count this time in 2022—still …

Russian oil exports jumped to their highest level in almost three years in March despite Western sanctions, the International Energy Agency (IEA) announced on Friday, though Moscow’s oil revenues nevertheless dropped sharply from last year. Following Moscow’s invasion of Ukraine in February 2022, the West has imposed a slew of …

Norway-based oil and gas company Noreco, to be renamed BlueNord, has set the wheels into motion to participate in a mini-round of licencing in the Danish sector of the North Sea. Noreco revealed on Wednesday, 12 April 2023, that it had submitted a licence application for acreage containing the Elly-Luke …

The Italian government has given conditional approval for the sale of a refinery owned by Russia’s Lukoil to a Cyprus-based private equity firm, Reuters has reported, citing unnamed sources in the know. The conditions set by the Italian government for buyer G.O.I. Energy include guarantees that no jobs will be …

Iraq is asking a U.S. federal court to enforce a ruling against Turkey over crude oil exports Turkey received from the Kurdistan Region of Iraq. The exports from the semi-autonomous Kurdistan region of Iraq into Turkey still have not resumed, leaving multiple fields in the KRG region shut in. Turkey …

The U.S. administration is considering slashing the mileage ratings for electric vehicles (EVs) to meet fuel economy regulations for automakers, in a major overhaul of the Corporate Average Fuel Economy (CAFE) program. The U.S. Department of Energy is looking to reduce significantly the way petroleum-equivalent fuel economy for EVs is …

Kazakhstan on Tuesday said it had begun international arbitration court proceedings against energy majors including ExxonMobil and Shell over $16.5 billion (15.2 billion euros) in costs deducted from the revenues from two oilfields. The government “has begun international arbitration against the Karachaganak and Kashagan (operating) companies,” Energy Minister Almasadam Satkaliev …