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The Nord Stream 2 gas pipeline project will likely be completed this month, Rainer Seele, the head of the Austrian oil giant OMV, told the Russian Vedomosti newspaper. Asked when construction will be finished, Seele said “next week,” adding that gas could start flowing before the end of 2021. Kremlin …

Oil was down Monday morning in Asia. The black liquid extended its losses after Saudi Arabia cut crude prices for Asia over the weekend amid an uncertain fuel demand outlook. Brent oil futures slid 1.06% to $71.84 by 11:50 PM ET. Crude oil WTI futures fell 1.02% to $68.58, remaining …

Under the sponsorship of the Iraqi Prime Minister Mustafa Al-Kadhimi, the agreement for optimal investment projects for associated gas and developing oil fields between the Iraqi Oil Ministry and the French Total was signed today. The agreement includes, according to a statement by Al-Kadhimi’s office, “three contracts between the Iraqi …

The Organisation of the Petroleum Exporting Countries and allies, including Russia, collectively known as OPEC+, has raised its forecast for oil demand next year, in a move that might help to build a case for raising output. Brent crude for November delivery gained 18 cents, or 0.3 per cent to …

The US Energy Information Administration (EIA) said that Iraqi crude oil exports to the US exceeded four million barrels last August. According to a report released by the EIA, Iraq exported to the US, during the first week of August, 120 thousand barrels per day, an average of 150 thousand …

Russian state-run energy giant Gazprom has increased output of natural gas by nearly 18% in the first eight months of the current year, compared to the same period a year ago. The gas producer said its output totaled 337.2 billion cubic meters, marking a year-on-year growth of 17.9%, according to …

Marking India’s 75th Independence Day last month, Prime Minister Narendra Modi called for energy independence by 2047, when independent India will celebrate its centenary, and announced a National Hydrogen Mission to make India a hub for green hydrogen production and export. India is not alone in having big ambitions when …

Metals miner Nornickel said it will participate in the design and building of Russia’s first dual-fuel liquefied natural gas (LNG) and diesel icebreaker to prepare for more capacity in the environmentally sensitive Arctic region. Russia, which has a fleet of nuclear-powered icebreakers, has long considered LNG-powered icebreaking ships to develop …

India’s power minister on Saturday asked officials to consider diverting coal to power plants with extremely depleted stocks as shortages at some plants push several utilities to the verge of running out of fuel. Power minister R.K. Singh asked officials to “streamline the stock and supply of coal”, including a …

New Oil Minister Javad Owji says the “tyrannical” U.S. sanctions have deprived Iran of 1.8 billion barrels of oil exports and more than $100 billion of revenues. Addressing the first OPEC Plus meeting in Vienna since being named to the new post, Owji also touched on the US embargo against …