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Japan is considering extending its subsidy program for oil wholesales to lower retail gasoline prices beyond its current year-end deadline to next spring, intending to prevent a sharp hike in fuel costs amid persistent supply concerns triggered by Russia’s invasion of Ukraine, sources familiar with the situation said Saturday. The …

The OPEC+ oil cartel will meet in Vienna at the ministerial level on October 5 to discuss future output strategy, according to a statement issued by the organisation. It’s the first in-person meeting at the ministerial level for OPEC+ since March 2020 when Covid-19 restrictions moved the meeting online, Xinhua …

Iranian Oil Minister Javad Owji and Japanese Foreign Minister Yoshimasa Hayashi in a meeting stressed the need for enhancing Tehran-Tokyo cooperation. Stating that Iran can play an important role in Japan’s energy supply, the Iranian oil minister called for boosting the level of economic cooperation between the two countries. “Japanese …

Vice-Presidency for Science and Technology has paved the way for Iranian nanotechnology products to go to market in six countries. International brokers for Iran’s Vice-Presidency for Science and Technology are marketing Iran-made nanotechnology products in different countries. The brokers have been active in Italy, Turkey, Thailand, the Philippines, Armenia, and …

Iran’s exports to neighboring Turkey show a 49 percent growth in the first eight months of 2022. According to the Statistical Department of Turkey, Iran exported $2.382 million worth of products to Turkey in the eight months of 2022, showing a 49 percent growth compared to the same period last …

Norway will receive help from Britain, Germany and France to patrol the seas around its oil and gas platforms amid suspicion that sabotage caused leaks in Nord Stream pipelines earlier this week, Norway’s prime minister said on Friday. Russia’s Nord Stream 1 and Nord Stream 2 pipelines burst this week, …

Saudi Arabia is budgeting for Brent oil at around $76 a barrel next year, according to Al Rajhi Capital, an outlook in line with current forward prices but far more bearish than expected by analysts. The Finance Ministry said in a preliminary budget statement on Friday that it projects revenues …

The ruptures on the Nord Stream natural gas pipeline system under the Baltic Sea have led to what is likely the biggest single release of climate-damaging methane ever recorded, the United Nations Environment Programme has said. A huge plume of highly concentrated methane, a greenhouse gas far more potent but …

Oil prices fell on Friday as traders worried about a deteriorating demand outlook, Trend reports citing Xinhua. The West Texas Intermediate (WTI) for November delivery decreased 1.74 U.S. dollars, or 2.1 percent, to settle at 79.49 dollars a barrel on the New York Mercantile Exchange. Brent crude for November delivery …

OPEC+ will hold its meeting on Oct. 5 in person in Vienna, an OPEC source told Reuters on Saturday. A virtual option will also be available for some delegations due to the short notice if they are unable to. OPEC+, which combines OPEC countries with allies such as Russia, is …