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Oil gained more ground on Wednesday as a U.S. COVID-19 fiscal aid package and a decline in crude oil inventories lifted prices, Reuters reported. Brent crude futures rose 19 cents, or 0.4%, to $51.28 a barrel, by 0255 GMT and U.S. West Texas Intermediate (WTI) crude rose 29 cents, or …

Iranian Energy Minister emphasized resuming gas export to Iraq in a meeting with the Prime Minister of the country on Tuesday. Reza Ardakanian made the remarks in a meeting with Iraqi Prime minister Mustafa Al-Kadhimi on Tuesday. Both sides conferred on the expansion of relations between the two countries. Iranian …

In Germany’s exclusive maritime economic zone, the section of Russia’s Nord Stream 2 gas pipeline has been completed. That’s according to dpa agency’s report of December 28. The pipes were laid on a 2.6 km section at a 30-meter depth. Russian pipelayer Fortuna was involved in relevant works. Noteworthy, the …

The OPEC+ alliance should remain cautious at its upcoming meeting Jan. 4 because a new strain of the coronavirus that causes COVID-19, B117, is likely to weigh on global oil demand outlook at the beginning of 2021, the Algerian energy minister Abdelmadjid Attar said in a Dec. 27 interview with …

Iranian Energy Minister Reza Ardakanian heading a delegation arrived in Baghdad on Tuesday to confer with senior Iraqi officials. During his stay, Ardakanian is scheduled to hold talks with his Iraqi counterpart and other senior Iraqi officials. He will seek payment of arrears concerning electricity supply to Iraq and arrangements …

Governor of Dasht-e Azadegan said that process of exporting non-oil goods via Chazabeh border in Khuzestan province continues without any interruption and restriction, Trend reports citing Mehr. Speaking in an interview with IRNA, Hamid Seylavi reiterated that export of non-oil products from Chazabeh Border, 110 km away from northwest Ahvaz, …

Most observers believe that falling oil prices delivered the coup de grâce to the Soviet Union, but in fact, it was not just declining prices but declining production as well that did the job. That combination has reappeared now – and there are few prospects that Russia will be able …

Iran has slashed the amount of natural gas it exports to Iraq and threatened further cutbacks over unpaid bills, increasing the likelihood of more electricity shortages in Baghdad and other major cities. Iraq has been receiving 5 million cubic meters a day since Iran cut its daily exports from 50 …

China’s crude oil imports from the U.S. soared 13 fold in November from a year earlier to the third highest on record, customs data showed on Dec. 25, as companies accelerated energy purchases set out under a trade deal with Washington. China’s U.S. oil imports hit 3.61 million tonnes, about …

Turkey has reportedly begun to export electricity to Iraq. According to Anadolu Agency, Turkey’s Energy Market Regulatory Authority (EMRA, EPDK) started supplying Iraq on Monday at a rate of 150 MW, through the Silopi-Zakho transmission line. The deal is due to run until 1st November, 2021.