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The Undersecretary of the Iraqi Oil Ministry, Basim Mohammed Khudair, stated on Saturday that Iraq will benefit from all available associated gas and achieve self-sufficiency in gas by 2030, the Iraqi News Agency (INA) reported. Khudair also indicated that foreign companies expressed their desire to invest in associated gas-related projects. …

OPEC data cited in a Sunday report by the IRIB News showed that Iran had produced a total of 262.261 billion cubic meters (bcm) (9.26 trillion cubic feet) of natural gas last year, up from 257.119 bcm reported in 2021. Iran was the third largest gas producer in the world …

Oilfield services groups are feeling the squeeze from a slowdown in activity in the US shale patch as companies scale back on oil and gas drilling. The world’s biggest oilfield services providers, responsible for the industry’s grunt work from drilling wells to building roads, reported a hit to North American …

China is importing record volumes of oil despite a weak economy as it takes advantage of cheap Russian crude to build stockpiles and export refined products. The rise in oil imports to record levels this year comes against the backdrop of a faltering recovery in the world’s second-largest economy. It …

Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and COP28 President-Designate has urged countries to join the Global Cooling Pledge. The pledge is the outcome of a partnership between the United Nations Environment Programme (UNEP) and the COP28 Presidency, announced earlier in the year. In …

Figures by the Organization of Petroleum Exporting Countries (OPEC) show that Iranian oil export revenues rose by 67% last year despite continued pressure of American sanctions on the country. OPEC data cited in reports by Iranian news agencies on Saturday showed that Iran had earned some $42.6 billion from oil …

The COP28 UAE Presidency and the International Energy Agency (IEA) have convened the first in a landmark series of high-level dialogues through to COP28 around building a 1.5°C-aligned energy transition. The initiative is being conducted in conjunction with the International Renewable Energy Agency (IRENA) and is supported by the United …

The International Energy Agency (IEA) will revise its global oil demand growth projections based on the economic growth prospects of China and some other countries, its executive director Fatih Barol said on Saturday. He reiterated the IEA’s view that oil markets are expected to tighten in the second half of …

China National Petroleum Corporation (CNPC) has started drilling an ultra-deep well with a designed depth of 10,520 meters (6.5 miles) in the Sichuan province, news agency Xinhua reports. The ultra-deep well is targeting natural gas and is located in the northwest of the Sichuan Basin. There are multiple sets of …

Saudi Aramco said on Friday it had completed the purchase of a 10% stake in a Chinese petrochemical firm for the equivalent of $3.4 billion as the Saudi oil giant continues to expand its downstream footprint in one of its key export markets. Aramco successfully closed the acquisition of a …