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Iraq’s Oil Minister, Ihssan Abdul-Jabbar Ismail, has said that Iraq will invest $3 billion in the Basra Gas Company (BGC) over the next five years, as it pushes ahead with plans to increase gas production. The money will fund projects intended to increase BGC’s gas production capacity from 1,000 to …

Oil prices rose on Wednesday, extending gains from the previous session after industry data indicated US crude stocks fell much more than expected last week, reinforcing bullish views on fuel demand in the world’s largest economy. US West Texas Intermediate (WTI) crude futures rose 48 US cents, or 0.7%, to …

Iraq plans to invest $3 billion in the Basra Gas Company over the next five years, the Iraqi News Agency reported on Monday. “The aim is to increase gas production capacity by 40 percent as we seek to reach 1,400 million cubic meters of gas,” Oil Minister Ihsan Abdul Jabbar …

The study by Danish transmission system company Energinet and Gasunie Deutschland addressed the feasibility of a 350-450-km pipeline from Esbjerg or Holstebro in Denmark to Hamburg. Having completed the study, Energinet and Gasunie want to initiate market dialogue and unlock the potential for exporting green hydrogen from Denmark to demand …

OPEC’s share of India’s oil imports fell to the lowest in at least two decades in the year to the end of March as overall purchases by Asia’s third largest economy fell to a six-year low, data obtained from industry and trade sources showed. Total crude imports by the world’s …

South Korean shipbuilders are enjoying a booming liquefied petroleum gas (LPG) ship market, snapping up a significant number of new orders placed this year, industry data showed Sunday. South Korean builders have won 31 LPG carriers out of 44 ordered so far this year, accounting for about 70 percent of …

The Russian oil is being supplied to Belarusian refineries as normal, Belarusian Prime Minister Roman Golovchenko said in an interview aired by the Belarus-1 TV channel on Sunday, adding that the US’ sanctions do not affect the supplies. “In accordance with the decision that has been taken, the sanctions cover …

Oil rose toward $67 a barrel as weaker demand from virus-ravaged India partially offset optimism over the global economic recovery. Brent crude edged higher after most-active prices rose almost 6% last month. April sales of gasoline in India fell to the lowest since August, while those for diesel were the …

Iran exported over $34.998 billion worth of non-oil goods to 143 countries last year (March 20, 2020 to March 20, 2021), an economic official said on Sunday. Spokesman for the Islamic Republic of Iran Customs Administration (IRICA) Rouhollah Latifi said that his country exported non-oil products worth over $34.998 billion …

In a meeting with his Iranian counterpart in Tehran, Iraqi Energy Minister Majid Mahdi Hantoush announced that his country will continue purchasing gas and electricity from Iran. “Iran and Iraq have agreed to continue imports of Iranian gas and electricity and Iraq will pay its debts to Iran,” Hantoush said …