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The Organization of the Petroleum Exporting Countries and its allies are expected to extend oil production cuts into the new year in an effort to avoid a global glut of inventories. But with Covid-19 cases accelerating in many parts of the world, raising the risk of further economic restrictions, its …

The United States continues its attempts to derail the construction of the Nord Stream 2 gas pipeline from Russia to Europe, German utility firm Uniper said. “Uniper regrets to say that the US is still trying to undermine the important infrastructure project, which is Nord Stream 2. We believe it …

Member of the Parliamentary Oil and Energy Committee, MP Ghalib Muhammad, called on Sunday to conduct negotiations with OPEC+ to reduce Iraq’s percentage of production cuts, in case it is decided to extend the reduction period again. Muhammad said in an interview with Shafaq News agency, “Iraq is one of …

A senior official in the southwestern province of Khuzestan believes that oil and gas exports will increase by building energy complexes in the province having great industrial capacities. Ali Karani, member of board of governors of industry equipment manufacturers of Khuzestan, made the remarks in an intevriew with IRNA on …

An aggressive China-led shift to electric vehicles is expected to slash global oil demand growth by 70% by 2030 and will help bring an end to the “oil era,” according to research by the Carbon Tracker think tank published on Friday. Within 10 years, China could save more than $80 …

The International Atomic Energy Agency (IAEA) said in its latest statement that it has access to Iranian nuclear sites to verify Iran Safeguards commitments. “This report of the Director General to the Board of Governors and, in parallel, to the United Nations Security Council, is on the Islamic Republic of …

Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: it’s fairly big by U.S. standards and sophisticated enough to turn a wide range of crude oils into high-value fuels. Yet …

BP has announced the sale of its London head office to Hong Kong investment firm Lifestyle International for £250m ($332m). The British oil giant also agreed to lease its 1 St James’s Square property in central London back from Lifestyle International for two years, saying the deal would give it …

The offshore platform of Phase 16 of southern Iranian South Pars Field has come back to production, according to an official with Pars Oil and Gas Field. The platform stopped gas excavation a year ago due to damages to parts of its pipelines stretching 110 kilometers on the seabed. Alireza …

Saudi Arabia and Russia are in a tight race to become China’s top oil supplier in 2020, with both countries boosting crude exports to the economic powerhouse even as the coronavirus pandemic hit global demand for oil this year. Saudi Arabia, which was China’s top supplier last year, has exported …