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In recent months, the world’s biggest oil exporter, Saudi Arabia, has lost market share in China to the United States as the world’s top oil importer has boosted imports from America and reduced purchases from the Kingdom. China has imported record volumes of crude oil in recent months, taking advantage …

Oil prices nudged up on Monday, with Brent futures set to post a fifth straight monthly gain, as global stimulus measures underpin prices even as demand struggles to return to pre-COVID levels in a well supplied market. Brent crude futures for November LCOc1 climbed 28 cents, or 0.6%, to $46.09 …

State oil company Saudi Aramco has discovered two new oil and gas fields in the northern regions, the kingdom’s energy minister said Aug. 30, state news agency SPA reported. The energy minister Prince Abdulaziz bin Salman Al-Saud said the new Abraq al-Toloul oil field, which lies to the south east …

Iran permitted the International Atomic Energy Agency (IAEA) to get access to two sites in the country, but meantime, the UN-affiliated nuclear watchdog said it would have no more demands to visit other centers undeclared by Tehran in the present context. “Iran and the IAEA reached an agreement on the …

The two-day visit of Director General of the International Atomic Energy Agency Rafael Grossi to Tehran wound up with satisfactory and win-win outcome for both sides. Grossi’s Tehran visit, which was faced with Western pre-meditated media hype in the aftermath of the US defeated approach with the UN Security Council …

Pledged overdue output cuts from Iraq in the next couple of months — if delivered — could help mitigate rising OPEC oil supply amid an expected recovery in demand vs. a weak 2Q. Our analysis points to the group’s overall good 93% compliance with quotas in July, despite sustained non-adherence …

The British investment site INN revealed that Iraq ranked sixth in the world as the largest oil producer, in addition to being the owner of the fifth-largest crude reserves in the world. In a report, the site said THAT Iraq ranked sixth in the world with the largest oil production …

Brazil’s Petrobras has initiated the sale process for a group of 26 onshore and shallow-water oil fields and a small nearby refinery in the northeastern part of the country, as the state-run company forges ahead with its ambitious divestment program. In a securities filing, Petroleo Brasileiro SA, as the firm …

The Iraqi Oil Marketing Company “SOMO” announced on Wednesday that Indian oil companies were the most buyers of Iraqi oil during the month of July. “The Indian companies were the most numerous among other international companies to buy Iraqi oil, by 7 out of 30 companies that bought Iraqi oil …

The U.S. Department of Energy on Wednesday said it will provide $625 million over the next five years for five newly formed quantum information research hubs as it tries to keep ahead of competing nations like China on the emerging technology. The funding is part of $1.2 billion earmarked in …