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South Korea’s Ministry of Foreign Affairs said that they have had a meeting with the Iranian delegation in Seoul to explore ways to release Iran’s funds frozen in the country due to sanctions. Seoul and Tehran are holding working-level consultations seeking ways to resolve the issue of Iranian assets frozen …

The Kurdish Parliament said that the Federal Court’s decision regarding the oil and gas law is a “serious blow to the Iraqi federal system and the rights of citizenship.” In a statement, the Parliament confirmed that the Federal Court’s decision “violates the foundations of the federal system and the Iraqi …

Iran’s crude oil production in January reached 2.503 million barrels per day (bpd), registering a 21-percent increase compared to the figure for December 2021, according to OPEC’s latest monthly report. Iran produced 2.482 million bpd of crude oil in December 2021, the report said citing secondary sources. The Islamic Republic’s …

High energy prices are jeopardizing the world’s pandemic recovery, the International Energy Agency’s executive director said Feb. 16, calling on OPEC and its allies to hit their oil production targets and for countries not to wield energy as a geopolitical weapon. “Today, very high oil and gas prices are putting …

At around the same time as Russian President, Vladimir Putin, had his first in-person meeting with his Chinese counterpart, Xi Jinping, for nearly two years – at the opening of the Winter Olympics ceremony in Beijing – and reiterated that there is ‘no limit’ to how far Russian and Chinese …

Oil prices slumped early on Tuesday after Russia said some troops are returning to bases, which the market interpreted as a possible sign of de-escalation of the tension following several days of warnings that Russia would invade Ukraine “any day now.” Profit-taking also pushed oil prices lower as investors and …

The U.S. is exporting liquefied natural gas at a record pace these days, as gas prices and geopolitical tensions in Europe rise amid the energy crisis and the Russia-Ukraine standoff. LNG tankers were loading or being docked at each of the seven LNG export facilities in the United States on …

Natural gas reserves in Germany, which has one of the highest underground storage capacities in Europe, have fallen to historically low levels compared with previous years. “The occupancy rate is now around 35%,” a representative of the Ministry of Economy said during a briefing on Monday, adding that the government …

As announced by the managing director of Iranian Central Oil Fields Company (ICOFC), 90 new development wells and 17 workover wells will be dug in the operational zone of South Zagros Oil and Gas Production Company (SZOGPC) in a course of five years. Ramin Hatami made the announcement in a …

Iraq has struggled to attract major fresh investments into its energy industry since signing a flurry of post US-invasion deals over a decade ago A $27-billion deal between France’s TotalEnergies and Iraq, that Baghdad hoped would reverse the exit of oil majors from the country, has stalled amid disputes over …