Social and Events

Iraqi Electricity Minister Majid Mahdi Hantoush expressed hope that his country could reach an agreement in upcoming negotiations with the Islamic Republic of Iran to increase gas imports. He announced that a delegation from the Iraqi Electricity Ministry will travel to Tehran next week to hold talks with Iranian officials …

The 16th OPEC and non-OPEC Ministerial Meeting of the Declaration of Cooperation (DoC), has been held via teleconference on Tuesday under the Chairmanship of Saudi Arabia’s Minister of Energy HRH Prince Abdul Aziz bin Salman and Deputy Prime Minister of the Russian Federation, Co-Chair HE Alexander Novak. According to the …

The visit by Chinese Foreign Minister Wang Yi to the Democratic Republic of Congo (DRC) earlier this year was indicative of a shift in Beijing’s lending and investment focus for Africa, according to analysts.During his trip to Kinshasa in January, Wang promised that Beijing would write off loans to the …

The Chinese company Sinopec (China Petroleum & Chemical Corporation) has won a contract to develop the Mansuriyah gas field in Diyala. The field, near the Iranian border, is expected to produce 300 million standard cubic feet (Mmscf) per day of gas, which will be used for electricity generation. In 2010, …

German carmaker Volkswagen plans to increase its share in China’s market for cars with alternative engines, like those powered by electricity, to about 15%, equivalent to the share it currently enjoys in the sales of standard automobiles, the head of its branch in the Asian country said. “Volkswagen has a …

Three key developments were announced last week by the UAE in line with its role as a principal member of the U.S.’s new Middle East strategy to counter China’s dramatically increasing influence over the region: plans for a major economic expansion; plans to attract more oil trade into new contracts; …

Fires raging Pertamina’s Balongan Oil Refinery have been successfully extinguished at 14:35 local time today, March 31. Agus Suprijanto, the state-owned oil firm’s Senior Vice President of Corporate Communications and Relations, confirmed in a written statement. Agus said that it was due to the offensive firefighting method applied intensively by …

The impact of the blockage of the Suez Canal by a giant container ship will be minimal, while oil prices may increase in the short run, Managing Director of Branko Terzic & Associates LLC, who used to serve as a commissioner on the US Federal Energy Regulatory Commission, said on …

If prices for the commodity average $65 a barrel and all else is equal, borrowing needs for the six countries comprising the council would drop 96% from what they’d be if oil traded at $45, an economist writes The Gulf Cooperation Council’s borrowing requirements could drop to $10 billion over …

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al Saud signed, on March 11, a memorandum of understanding (MoU) with Germany to produce hydrogen. On the sidelines of signing the memorandum, the Saudi Minister said that the Kingdom will secure a leading position in the production of hydrogen since …