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The US Energy Information Administration (EIA) has reported a decrease in Iraq’s oil exports to the United States. According to the administration’s report, Iraq’s average oil exports to the US reached 148,000 barrels per day during the past week, marking a decrease of 74,000 barrels per day compared to the …

Managing director of the National Iranian Oil Company (NIOC) said Iran’s export of oil has doubled in the administration of President Ebrahim Raisi in spite of tough sanctions imposed against the country. Mohsen Khojastehmehr made the comment during a visit to Kharg Island, adding that the oil exports have doubled …

Around $600 billion spending is required this decade to achieve the cut in oil and gas emissions, according to a new IEA report. This is only a fraction of the record windfall income that oil and gas producers accrued in 2022. Many of the measures also generate additional income streams …

Norway’s plan to nationalize natural gas assets includes more than just Gassled’s natural gas pipelines, new information revealed in a letter from the Norwegian energy minister showed on Friday. The surprise move to nationalize the country’s gas assets will also include other assets—including the Nyhamna processing plant. Last Friday, Norway’s …

Japanese investors will be supported to increase investment in natural gas projects in Mozambique as the Southeastern African country aims to develop giant offshore projects, Prime Minister Fumio Kishida said. Japan will encourage “the entry of more Japanese businessmen” in Mozambique, Kishida said on Thursday in the capital, Maputo. “Cooperation …

Greek shipping tycoons and their tanker companies are moving large volumes of Russian oil and are making a lot of money off these trades, which are mostly shunned by other Western ship owners after the West moved to sanction Russia’s crude. Tankers owned by EU member Greece, one of the …

China Petroleum & Chemical Corporation (“Sinopec”) has initiated the drilling of Project Deep Earth 1-Yuejin 3-3XC Well on May 1 in the Tarim basin, Xinjiang Uyghur Autonomous Region. With a design depth of 9,472 meters, it will be the deepest oil and gas well in Asia and a breakthrough of …

Oil prices rose on Friday but fell for the third straight week after a sharp fall earlier this week ahead of benchmark interest rate rises and on concern that the U.S. banking crisis will slow the economy and sap fuel demand. Brent crude closed $2.80, or 3.9% higher, at $75.30 …

Oil headed for a third straight weekly decline, the longest losing run this year, as slowdown concerns and turmoil in the US banking sector prompted investors to flee from risk. West Texas Intermediate edged higher towards US$69 a barrel on Friday, but the US crude benchmark has still retreated by …

PetroChina has become the only one of China’s three national oil companies to report a year-on-year increase in first-quarter net profit thanks to strong upstream production and rising sales of refined products.