International

The nationalization of Exxon Mobil’s assets in Chad comes after the oil giants divested from them in December 2022, media have reported. Chad has nationalized all the assets and rights, including hydrocarbon permits and exploration and production authorizations, that belonged to a subsidiary of Exxon Mobil, the West African nation’s …

Denmark is salvaging an unidentified object found next to a Russian gas pipeline damaged in a blast last September, as investigators continue to seek who was behind the attack. The operation comes two weeks after German authorities said they searched a vessel that may have transported explosives used in the …

Greek ships remain the dominant force shipping Russian crude, increasing their market share significantly since the December 5 ban on Russian oil exports started, according to new data from freight data firm Vortexa. Greek and other foreign owners are allowed to transport crude and products out of Russia under an …

A burgeoning row between France and Germany fired by differences over nuclear energy and combustion engines threatens to spill over into a gathering of the 27 European Union leaders on Thursday (23 March). A row erupted between two of the European Union’s biggest economies after Berlin upset some of its …

Global renewable generation capacity increased by 9.6%, or 295 gigawatts (GW) last year, amounting to a total of 3,372 GW, the International Renewable Energy Agency (IRENA) revealed in a recent report. Renewables delivered 83% of all electricity capacity installed last year, according to IRENA’s Renewable Capacity Statistics 2023. The report …

Signs have emerged of a slight improvement in the global economy, thanks to falling energy and food prices in early 2023, the OECD said on Friday as it raised its global economic growth projections for this year and next. The OECD now expects global economic growth at 2.6% this year, …

Iraqi Oil Minister, Hayyan Abdulghani, expressed his country’s readiness to increase oil production if OPEC+ decides to do so. Speaking at the Baghdad International Dialogue Conference on Sunday, Abdulghani stated that Iraq is committed to maintaining a production rate of 220,000 barrels per day in line with OPEC+ quotas. The …

In its Annual Energy Outlook 2023 published on Thursday, the Energy Information Administration predicted that high international demand for petroleum products will lead to continued growth in U.S. production. Combined with relatively little growth in domestic consumption, this means the United States remains a net exporter of petroleum products and …

Iraqi oil expert Hamza al-Jawahiri on Thursday said the West has started a “war” on oil prices, warning that the assumed price of oil in Iraq’s 2023 budget is disappointing. Al-Jawahiri’s comments came as the price of oil dropped to record lows following the collapse of some banks in America …

OPEC+ will likely wait for financial markets to calm before deciding whether it needs to react to oil’s rout by cutting production, according to consultancy Energy Aspects Ltd. “It would be premature for OPEC+ to take action without first understanding what the risks are,” EA analysts, including co-founder Amrita Sen, …