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On Monday, Basrah crude oil decreased despite a stability in global oil prices. Basrah Heavy crude edged lower by $0.14 to $73.60, while Basrah Medium also rose by $0.14 to $76.77. Global oil prices remained stable, maintaining most of their gains from the previous week, which had exceeded three percent. …

Total production and imports of natural gas in the Sultanate of Oman increased by 5.3 percent to 27.58 billion cubic metres by the end of June 2024 compared to 26.19 billion cubic metres during the same period in 2023. Statistics issued by the National Centre for Statistics and Information (NCSI) …

Libya’s National Oil Corp. (NOC) said Sunday it is working on increasing the production capacity of the Mellitah oil and gas processing complex by 30,000 barrels per day (bpd), days after declaring force majeure on the Sharara field. Work is also ongoing for a marine facility that will transport about …

Saudi crude oil exports to China are set to fall in September to about 43 million barrels, several trade sources said on Monday, citing monthly allocations for term buyers. September exports from the world’s top exporter to China are estimated to slip by about 3 million barrels from a revised …

Oil prices rose for a fifth consecutive session on Monday, holding on to last week’s more than 3% gains, as US recession fears eased while geopolitical tensions in the Middle East supported prices. Brent crude futures climbed 22 cents, or 0.3%, to $79.88 a barrel by 0458 GMT, while US …

Russia’s crude oil production was down in July compared to June, the Russian Energy Ministry said on Friday, and more cuts are coming. Russia’s oil production came in at 67,000 bpd above its quota for July, but was down in July compared to June due to “one-off supply scheduling issues”. …

As the world turns to cleaner energy solutions, hydrogen power has been put into the spotlight. In a significant showcase of its potential, China-manufactured hydrogen refueling equipment has played a pivotal role at the 2024 Paris Olympic Games. These installations are now the energy source for hydrogen vehicles transporting athletes …

Turkmenistan is ready to start work on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project in Afghanistan’s territory, Trend reports. Turkmen Foreign Minister Rashid Meredov announced this during an online meeting with Afghan Deputy Prime Minister Abdul Ghani Baradar. The sides also discussed economic, transit, trade, and political cooperation between their countries. …

Iran has been expanding its oil destination markets as the country is pushing to send more oil to the global markets in an attempt to neutralize Western sanctions. Iran has sent shipments of crude oil to new destinations such as Bangladesh and Oman, according to shipping sources and data cited …

OPEC+ oil production experienced its largest increase in nearly a year in July, with Iraq and Kazakhstan raising their outputs despite deeper cut commitments, while Russia remained significantly above its quota. According to a survey by Platts OPEC+ from S&P Global Commodity Insights on August 10, the group’s total production …