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Saudi Arabia expects to have freed up to 1 million barrels per day (bpd) of oil for exports by 2030 by cutting its direct oil use in power generation as it looks to replace petroleum liquids with gas-powered generation and renewables, Energy Intelligence reports, quoting industry sources. Saudi Arabia relies …

Afghanistan’s finance ministry announced Saturday that a contract was signed for the purchase of 350,000 tons of oil from neighboring Iran. The agreement was signed with an Iranian firm during an Afghan delegation’s visit to the neighboring country. The delegation included representatives of Afghanistan Oil and Gas Corporation, ministries of …

Two solar power projects were reportedly given to Chinese corporations by Iraq. This is in accordance with a contract deal between Iraq and China that was reached in 2019 led by former Iraqi Prime Minister Adel Abdul Mahdi. Both solar installations are in the Al-Muthanna Governorate, which borders Saudi Arabia …

Saudi Arabia and Iraq are helping Europe wean off of Russian crude, which is increasingly headed to Asia, as Vladimir Putin’s war on Ukraine reshuffles the global energy market. Europe has imported more than 1 million barrels per day via the SuMed pipeline in the first three weeks of July, …

The Hungarian foreign minister says Iran’s more forceful return to the global energy markets will serve the interests of all countries. Péter Szijjártó, in a phone conversation with his Iranian counterpart Hossein Amirabdollahian, stressed that the issue of energy is vital for Europe and the world, thanking Iran for caring …

The head of the Atomic Energy Organization of Iran (AEOI) says construction of the second and third phases of the Bushehr nuclear power plant has been accelerated to tackle Iran’s need to diversify its power generation resources. In a trip to the central Iranian city of Khondab on Friday, Mohammad …

Libya’s National Oil Corporation (NOC) aims to bring back production to 1.2 million barrels per day (bpd) in two weeks, NOC said in a statement. “NOC is striving to increase production and bring it back to its normal rates of 1.2 million barrels per day in two weeks,” according to …

Despite high international crude and POL prices, the country has imported record-high oil products and crude, both in volume and money terms, on the back of rising U.S dollar strength against the rupee and the government’s decision to raise local POL prices to revive stalled IMF’s program. Having a record …

French-headquartered energy giant TotalEnergies has completed all the required steps to pull out of Myanmar while Thailand’s PTTEP has taken over the operatorship helm at the Yadana offshore gas field. Back in January 2021, TotalEnergies announced its decision to withdraw from its operations in Myanmar, specifically the Yadana field and …

Saudi Arabia has limited additional crude oil production capacity, Wall Street Journal sources revealed on Wednesday. The sources, who are said to be familiar with Saudi Arabia’s oil production capabilities, were not named. The mystery surrounding Saudi Arabia’s crude production capabilities has grown in recent weeks amid a tight oil …