Top News

The consortium behind the Russia-led Nord Stream 2 natural gas pipeline has resumed laying pipes in the waters of Denmark, it said on Saturday, despite mounting pressure on the project from Washington. Construction of the link, which would double the capacity of the existing Nord Stream pipeline to 110 billion …

Iran’s natural gas production has reached a record high even as US sanctions caused major international exploration companies to scale back their activities in the Islamic Republic. Production has hit a record of 1.04 Bcm/d, Iran’s oil minister Bijan Zanganeh said Feb. 7 on the sidelines of a petrochemicals conference …

Iraqi Minister of Oil, Ihssan Abdul-Jabbar, considered setting a price of 80$ US/oil barrel suitable for Iraq to meet the federal budget’s expenditures. Abdul-Jabbar said in an interview with Shafaq News agency, “Iraq will export in 2021 about one billion and 100 million barrels of crude oil according to market …

Saudi Aramco maintained its second position as the world’s most valuable oil and gas brand in 2021, with a value of $37.5 billion, compared to $46.77 billion in 2020, according to Brand Finance. The annual report on the most valuable brands in the oil and gas sector found that the …

China’s electricity consumption, a key barometer of economic activity, is likely to grow by 6 to 7 percent year on year in 2021, according to the China Electricity Council (CEC). Power supply and demand will generally maintain a balance in China this year, though some areas may face power supply …

The German government is considering the possibility of establishing a mechanism which will allow shutting down the Nord Stream-2 gas pipeline if Russia reduces gas transit through Ukraine, reported German newspaper WirtschaftsWoche citing sources. According to the newspaper, Chancellor Angela Merkel and Foreign Minister Heiko Maas are not considering the …

Iran’s Deputy Economy Minister said on Saturday that Iran’s non-oil export was 5% in 1979 while it has reached 80 percent in the past 42 years. Speaking in a conference of exporters at the Chamber of Commerce of Kashan, central Iran, Abbas Memarnejad said that although the volume of export …

Plans to build the world’s first energy island which would provide power for three million households have been given the green light by Denmark’s politicians. The giant artificial island, to be built in the North Sea, will be as big as 18 football pitches (120,000 square metres) but could end …

The German authorities are considering the possibility of creating a shutdown mechanism for the Nord Stream 2 gas pipeline, which would be used in the case of a Russian attempt to decrease gas transit via Ukraine, German media reported. The WirtschaftsWoche newspaper reported that neither Chancellor Angela Merkel nor Foreign …

The Iraqi Oil Minister, Ihssan Abdul-Jabbar said on Saturday that the country does not have significant losses in investing its joint fields with neighboring countries. Abdul-Jabbar said exclusively to Shafaq News Agency that “there is a committee for joint fields with Kuwait and Iran regarding joint oil fields with them,” …