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Iranian Oil Minister’s Deputy for Planning said that Parsian Energy Intensive Industrial Special Economic Zone (PEISEZ) is a new hub of oil and gas in Iran and that the ministry assures investors feeding the zone. An advantage of the PEISEZ is that it is close to the oil and gas …

The European Union and the UK have seen their dependence on natural gas imports jump to 80 percent in 2020 from 65 percent in 2010, as regional production plunged, the U.S. Energy Information Administration (EIA) said on Friday. The high dependence on gas imports and the low levels of gas …

A report released by Organization of the Petroleum Exporting Countries (OPEC) indicates that Iran’s oil production in January experienced 21,000 barrels per day increase, reaching the highest production level comparing last three years. Despite continued economic sanctions on the Islamic Republic, its crude oil production reached more than 2.5 million …

Wall Street stocks tumbled and oil prices surged as White House warnings of a possibly imminent Russian invasion of Ukraine reverberated through financial markets. Markets lurched on Friday during a briefing by US National Security Advisor Jake Sullivan, who said a Russian invasion could “begin at any time,” including during …

Through its affiliate TotalEnergies E&P USA Inc., TotalEnergies has announced its decision not to sanction, and to withdraw from, the North Platte deepwater project in the U.S. Gulf of Mexico. The decision not to continue with the project was taken “as the company has better opportunities of allocation of its …

Crude oil supply by non-OPEC countries will grow by 3 mln barrels daily in 2022, the Organization of Petroleum Exporting Countries (OPEC) says in its February report. OPEC at the same time lowered the estimate in increase of supplies from 0.7 mln barrels a day to 0.6 mln barrels daily …

The Permian has led U.S. shale production growth in recent months and will continue to do so in the coming months, but the oil price rally so far in 2022 has also driven increased drilling activity in other shale basins with higher breakeven prices. $90 oil is incentivizing more drilling …

The European Commission on Thursday raised its inflation expectations for this year, but is still expecting prices to move below the European Central Bank’s target of 2% in 2023. The Brussels-based institution said inflation will hit 3.5% this year from a November forecast of 2.2%. The debate over inflation in …

An unexpected drop in US crude inventories did little to boost oil prices, with investors focused on the outcome of US-Iran nuclear talks on Thursday, which could see more Iranian oil barrels on the market. International benchmark Brent crude was trading at $91.19 per barrel at 0615 GMT with a …

The underwater shield crossing project that passes through the Yangtze River of China-Russia Eastern Gas Pipeline is in full swing, which is the key project of the southern section of the China-Russia Eastern Gas Pipeline, with a total length of 10.226 kilometers, the longest tunnel under construction across the Yangtze …