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The world’s biggest oil company is getting squeezed by its main shareholder, the Saudi Arabian government. Even with crude dropping to US$40 a barrel this week and its cash flow plunging, Saudi Aramco is trying to pay a US$75 billion dividend this year, almost all of it to the state. …

Gazprom supplied 2.3 bln cubic meters of gas to China via the Power of Siberia gas pipeline in January-August period of 2020, Director General of Gazprom Transgaz Tomsk Vladislav Borodin told a corporate magazine. “Gazprom Transgaz Tomsk transported over 15 bln cubic meters of gas in eight months of this …

Iraq’s federal government has requested that the Kurdistan Regional Government (KRG) cut its oil production by 120,000 barrels per day (bpd), Iraq’s state news agency INA quoted a KRG minister as saying on Wednesday. The semi-autonomous Kurdistan Region of Iraq’s domestic oil consumption is at 30,000 bpd, INA quoted Khaled …

Behind the facade of political rhetoric, Russia and the United States have embarked on an impressive show of synergy, with fuel oil becoming a rare demonstration of improving relations. The issue of US-Russia energy ties has been enjoying a bit of media spotlight as President Trump accused Democrats in New …

Iraq is in talks with ENI to build a 300,000 b/d refinery at an estimated cost of $4 billion near the Zubair oil field operated by the Italian company in the southern part of the country, the oil minister told a webcast with Jordan-based Iraqi Business Council. The first phase …

The global economy is likely not headed for any major slowdown due to COVID-19 but piled-up storage and uncertainty over China’s oil demand cloud oil markets’ recovery, an official with International Energy Agency (IEA) said. Keisuke Sadamori, IEA director for energy markets and security, told Reuters the outlook for oil …

Iranian Minister of Petroleum Bijan Zangeneh announced on Monday that Iranian gas export has doubled over the past seven years period. Zangeneh made the remarks at opening ceremony on 151 gas distribution projects in the western Iranian province of Kermanshah. The exports of liquid fuel have quadrupled in the mentioned …

Chancellor Angela Merkel’s top diplomat warned Russia that Germany’s support for the Nord Stream 2 gas pipeline was at risk if the Kremlin doesn’t assist in clarifying the poisoning of dissident Alexey Navalny. It was the first time a cabinet minister in Merkel’s government explicitly linked the fate of the …

Oil Minister, Ihsan Abduljabbar announced today, Sunday, that the ministry is planning to raise the production capacity of Baiji refineries to 280,000 barrels/day. Abduljabbar said in a statement received by Shafaq News agency, “the ministry’s plans aim to increase production from northern refineries to 280,000 barrels per day”, stressing, “in …

The export of non-oil commodities in the current Iranian year –a period of around 6 months- via the southeastern port city of Chabahar has risen by 95 percent compared to the corresponding period a year earlier, an official said. Director General of the Ports and Maritime Organization of Iran in …