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The secretary general of the Organization of Petroleum Exporting Countries (OPEC) said that Iran was one of the most important founding members of the entity with a significant role in stabilizing the oil market. In an interview with Kuwaiti newspaper Al Ra’I on Sunday, Haitham al-Ghais said that Iran and …

The OPEC+ group of oil exporters are set to hammer out a new strategy at their meeting Wednesday, with all eyes on how they will react to soaring crude prices. The 13 core members of OPEC, led by Saudi Arabia, and the 10 further states in OPEC+ — chief among …

Kuwait’s Haitham Al-Ghais will start on Monday his new role as Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), following the late outgoing chief, the Nigerian Mohammad Barkindo. Speaking to KUNA on Sunday, Al-Ghais thanked His Highness the Amir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, His Highness the Crown Prince …

With countries and energy companies around the world looking to accelerate their transitions towards cleaner energy resources, Latin American nations are developing plans to scale up the production, consumption and export of so-called green hydrogen, which is generated from clean energy resources. One of the most recent, high-profile developments came …

Russia’s invasion of Ukraine earned the communist country countless sanctions from different several states. In retaliation, President Vladimir Putin cuts the gas supply in answer to the Russian sanctions imposed by “unfriendly countries.” Europe is suffering more damage due to Russia sanctions imposed by the US and other countries due …

OPEC+ oil output in June is almost 3 million barrels per day (bpd) less than its target, as some countries failed to comply with the output target. The level of underproduction by OPEC+ jumped to 320% in June from 256% in May and 220% a month earlier, Russian Interfax news …

U.S. crude oil imports from Iraq averaged 165,000 oil barrels per day (bpd) last week, the Energy Information Administration (EIA) revealed. According to the report, last week’s oil imports from Iraq amounted to 454,000 barrels (165,000 bpd). Iraq followed the United States’ top crude oil suppliers, Canada (3.308 million bpd), …

Deputy Head of the Atomic Energy Organization of Iran (AEOI) Pejman Shirmardi has said about 90 percent of the equipment in the field of nuclear technology has been domestically produced which is the result of the efforts by the Iranian scientists. Shirmardi stated on Saturday that approval of the Strategic …

European politicians have been scouring their neighbourhood to find new gas supplies to replace those threatened by Russia. They have secured some promises in their tour that took them from Azerbaijan via the Gulf to Egypt and Israel. They have visited Algeria too, but Africa’s largest country and biggest gas …

Russian energy giant Gazprom Saturday suspended gas supplies to Latvia following tensions between Moscow and the West over the conflict in Ukraine and sweeping European and US sanctions against Russia. “Today, Gazprom suspended its gas supplies to Latvia… due to violations of the conditions” of purchase, the company said on …