International

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, …

Australia is to become the seventh country in the world to introduce nuclear-powered submarines to its naval fleet, as part of a newly brokered deal between the United States, the United Kingdom and Australia (AUKUS), reports Statista. The US has said it will sell Australia three US Virginia-class nuclear-powered submarines …

After Russia’s invasion of Ukraine in March 2022 set off a rush for gas resources worldwide, Europe picked Africa as an alternative supply market for natural gas. European energy ministers and other political leaders toured North African countries and gas initiatives in both East and West Africa received renewed support. …

The future of the energy industry in the United Arab Emirates is bright and will reach new heights in the future, the oil minister of the UAE, Suhail Al Mazrouei has said. At an event titled “Charting the Future of the UAE’s Energy Sector”, Al Mazrouei said that the UAE …

The Biden Administration approved the controversial Alaska oil project known as Willow on Monday after rumors surfaced last week that the Administration was set to approve it. The massive oil Willow Project covers three drill sites in the National Petroleum Reserve in an area that is estimated to hold up …

The World Bank will support the development of Mozambique’s giant natural gas resources if it’s the cheapest way to boost energy security in one of the world’s poorest nations, according to an official. The Washington-based lender in 2019 stopped financing oil and gas extraction projects, aside from “exceptional circumstances” where …

Saudi Aramco announced its full-year 2022 financial results, reporting a record net income of $161.1 billion — its highest annual profits as a listed company. Aramco also declared a fourth quarter dividend of $19.5 billion, to be paid in the first quarter of 2023. The results were underpinned by stronger …

A meeting in Cairo aiming at steering the committees of the Egyptian-German green hydrogen project partnership, along with Egyptian officials has set up a joint roadmap to support hydrogen production companies and encourage hydrogen transportation and marketing, according to the embassy. The meeting, which was attended by Egyptian Minister of …

The transportation of Kazakh oil through Azerbaijan will begin this year, Deputy Minister of Foreign Affairs of Kazakhstan Roman Vasilenko said at a briefing, Trend reports via Kazakh media. “The transportation of Kazakh oil through in the direction of Aktau – Baku will start in 2023,” he said. The deputy …