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Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. The nation’s Basrah Light barrels will be sold at a discount of $1.15 per barrel to a regional benchmark …

The loss of oil supplies due to the aftermath of Hurricane Ida, which hit the US oil-producing regions in the Gulf of Mexico at the end of August, is estimated at 30 mln barrels, according to the September report of the International Energy Agency (IEA). “Hurricane Ida is still causing …

Iraq’s Oil Minister Ihsan Abdul Jabbar announced Saturday that Iraq would rely on green energy to invest in gas and produce renewable energy. During his participation at a workshop organized by the International Energy Organization (IEA), the Minister stressed the government and ministry’s keenness on supporting clean energy projects. This …

New oil and gas projects are incompatible with a future in which the world stays on track with its climate targets. Needless to say, that has enormous implications for the oil and gas industry. A new report quantifies what that would mean for individual companies. While the impact varies, the …

Brazil is expected to contribute about 48% (1.35 MMb/d) of the Americas crude and condensate production in 2025 from upcoming projects (excluding the US L48), according to GlobalData. The company’s latest report, ‘Americas Upstream Development Outlook, 2021–2025’, reveals that 1.164 MMb/d of crude and condensate production in Brazil in 2025 …

OPEC trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant on Sept. 13, saying a further recovery would be delayed until next year when consumption will exceed pre-pandemic rates. The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly …

The price of gas in Europe approached $730 per 1,000 cubic meters on Monday, according to the ICE exchange. Thus, the price of the October futures on the TTF hub in the Netherlands on Monday reached $727 per 1,000 cubic meters, or 59.585 euro per MWh. At the end of …

Managing director of Iranian Central Oil Fields Company (ICOFC) announced his company’s readiness for the sustained supply of gas during winter. Ramin Hatami announced the realization of plans and readiness for the sustained supply of gas for domestic and industrial consumers. “Due to the efforts of the company’s staff, especially …

Gazprom announced that it has fully completed the construction of the €9.5bn Nord Stream 2 gas pipeline, which is designed to transport Russian natural gas to the European Union through the Baltic Sea. Nord Stream 2, the pipeline holding company, will now carry out the necessary pre-commissioning activities with an …

French energy giant Total Energies and the Iraqi ministries for oil and electricity along with the country’s National Investment Commission have signed major agreements, worth $27 billion, covering several projects in the Basra region, designed to enhance the development of Iraq’s natural resources and to improve the country’s electricity supply. …