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Concerns over tight oil supplies and soaring inflation have intensified after the OPEC+ group of nations announced its largest supply cut since 2020 ahead of European Union embargoes on Russian energy. The move has widened a diplomatic rift between the Saudi-backed bloc and Western nations, which worry higher energy prices …

The head of French energy major TotalEnergies said Wednesday (5 October) that a possible price cap on Russian oil over the Ukraine war would benefit Russian President Vladimir Putin. The group’s chairman and CEO Patrick Pouyanné made the remarks at the Energy Intelligence Forum industry gathering in central London. “Honestly, …

Malaysia will curb liquefied natural gas shipments to Japan this winter after a pipeline leak disrupted exports, another hit to already strained global supplies of the power-station fuel. Petroliam Nasional Bhd. has made a request to reduce contracted deliveries to several Japanese customers through the year-end, according to traders with …

The US government may soon reduce sanctions on Venezuela, allowing Chevron and other oil companies to resume oil drilling there. This comes just hours after OPEC+ countries announced a cut in oil supply by two million barrels per day (bpd). A report by the Wall Street Journal (WSJ) said that …

The United States is pushing OPEC+ nations not to proceed with potential deep oil output cuts, a source familiar with the matter told Reuters, as President Joe Biden seeks to prevent US gasoline prices from rising, Trend reports. Washington is arguing to OPEC+ nations that economic fundamentals do not support …

EU ambassadors on Tuesday night (4 October) reached a political agreement on the bloc’s new round of Russia sanctions, including an oil price cap, which earlier had been opposed by a few seafaring member states. The draft measures agreed on Tuesday that will form the eighth package of sanctions since …

Iran successfully tested an experimental implementation of Saman orbital transmission system with a sub-orbital space probe, Ministry of Information and Communications Technology said on Tuesday. Iranian Space Agency, in collaboration with Aerospace Industries Organization of Defense Ministry, successfully launched and tested a trial implementation of Saman orbital transmission system which …

Natural gas deliveries from Iran to Turkey will temporarily be discontinued from October 2-9, 2022, due to scheduled maintenance, Turkey’s Petroleum Pipeline Corporation (BOTAŞ) said on Monday. According to the Turkish Daily Sabah newspaper, “Due to the planned inspection and maintenance works to be carried out on the Iran-Türkiye Natural …

The secretary of the Iran-South Korea Joint Chamber has said that Iran has exported 32.5 million dollars to South Korea during the first five months of the current Iranian year. Iran exported 32.5 million dollars to South Korea during the first five months of the current Iranian year, Pooya Firozi …

The construction of the 58 MW Stępień solar plant in Poland is completed, and the plant is ready for operation. Stępień was developed and will be operated by Wento, Equinor’s 100% subsidiary. In 2021, Equinor bought the Polish solar developer Wento and its pipeline of solar projects across Poland. Less …