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Russia’s largest oil producing company Rosneft plans to sell some old underperforming oil fields, mostly to local companies, at least two Moscow-based brokerages said on Tuesday following a conference call with Rosneft’s management. Sova Capital brokerage said in a note to its clients that Rosneft plans to sell some of …

UAE-based Dana Gas has announced that the production of sales gas from Pearl Petroleum’s Khor Mor Gas Plant in the Kurdistan Region of Iraq (KRI) reached a record level of 418MMscf/d on 18 November 2020. Dana Gas, which owns a 35% stake in Pearl Petroleum, registered a 6% year on …

Global demand for petrochemical products is expected to grow by about 4% annually, while the demand for oil will grow only by 1%, Russian President Vladimir Putin This announced on Tuesday. He was speaking at a meeting for the strategic development of the petrochemical industry. “By the way, this is …

Iran’s Ambassador to the Vienna-based international organizations Kazem Gharibabadi says the International Atomic Energy Agency (IAEA) should fulfill responsibility to condemn terrorist attack against Iranian scientist Mohsen Fakhrizadeh. Gharibabadi made the remarks while speaking to reporters on Monday. The ambassador criticized the IAEA for keeping silent on the issue. Fakhrizadeh- …

The Trump administration plans to add China’s top chipmaker SMIC and oil giant CNOOC to a blacklist of alleged Chinese military companies, escalating tensions with Beijing before President-elect Joe Biden takes office, according to sources familiar with the matter and a document seen by Reuters. The Department of Defense (DOD) …

Gas giant Gazprom has decided to resume pipe-laying work before the end of 2020 on a 2.6-km part of the stalled Nord Stream 2 gas pipeline from Russia to Germany. According to a Reuters article, Nord Stream 2 AG, a subsidiary of Russia’s Gazprom and operator of the Nord Stream …

Middle East producers led by Saudi Arabia are widely expected to raise their official selling prices for January loading crude in December, although the outcome of the OPEC and non-OPEC meetings in coming days could affect the size and even the direction of any price change. Saudi Aramco is expected …

Exxon Mobil is about to incur the biggest write down in its modern history as what was once an exemplar of American capitalist might shudders under the weight of debilitated energy markets. Exxon — already hobbled by cratering crude prices, a global supply glut and a pandemic-driven collapse in fuel …

Norwegian oil and gas company Equinor has received consent from the country’s offshore safety authority to drill an exploration well in the Barents Sea using the Transocean Enabler rig. The Petroleum Safety Authority (PSA) said last Friday that the well was designated as 7220/7-4 at a prospect named Isflak. It …

Crude oil prices tumbled on Monday, as investors waited for a decision by producer group OPEC+ whether to extend large output cuts to balance global markets, but vaccine hopes helped keep benchmarks on track to rise more than a fifth in November. January Brent crude futures, which will expire later …