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Oil prices rose on Tuesday after a volatile session sparked by confusion over the status of the U.S.-China trade deal. Markets were unsettled by surprise comments from White House trade adviser Peter Navarro, who said the hard-won deal was “over”, though U.S. President Donald Trump later soothed jangled nerves with …

OPEC+ nations that had been pumping more oil than their quotas allow for are starting to fall in line and provide details to other members of the cartel on how they’ll make extra reductions to compensate. Nigeria, Angola, Gabon and Brunei have submitted plans to the OPEC secretariat in Vienna …

BP has invested $5m in cloud-based analytics software company Satelytics through its venture capital arm, as the oil giant continues its drive to deploy a suite of methane-detecting technologies to combat climate-harming greenhouse gas leaks across its fossil gas activities. US firm Satelytics claims to collect high resolution imagery from …

China looks to raise its crude oil production by 1 percent to 3.85 million barrels per day (bpd) and natural gas output by 4.3 percent this year, the National Energy Administration’s (NEA) annual production plan showed, as carried by Reuters. In order to increase its domestic oil and gas production, …

Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline project, should substantiate its appeal against the decision of the German Federal Network Agency [Bundesnetzagentur] not to exempt the Nord Stream 2 project from requirements of the revised EU gas directive, a spokesperson of the Higher Regional …

Lukoil said on Monday that it started drilling an exploration well at the Shirotno-Rakushechnaya prospect located north of the V.I. Grayfer field. The well, with the target depth of 1,650 meters, was drilled from the Astra jack-up drilling rig. The rig is designed for shallow waters and the sea at …

Oil and gas companies have looked beyond their own sector to diversify revenue streams, most notably in power. Now they are using digital technology expertise as another way to build new revenue. Shell and BP are two leading examples. Shell estimates that digital tools will contribute to one-fifth of its …

Iraq expects higher crude revenues in July and is currently selling its oil at around $34-$35/b, the al-Mirbad news organization quoted the oil minister as saying on June 22. Iraq in some cases has sold its oil as high as $39/b, Ihsan Ismaael said, al-Mirbad reported. The minister reiterated the …

An international lawyer and university professor said on Monday that the International Atomic Energy Agency (IAEA) inspects Iranian nuclear centers 33 times a year, which is the highest number in the world and shows Iran has had the most cooperation with the Agency. Mohammad-Reza Hosseini said the US has a …

The global will remain oversupplied for the next two years but low prices will not hinder China from stepping up domestic output and reducing its reliance on imports, according to a senior executive of one of China’s largest natural gas distributors. “This year, the coronavirus pandemic has rendered the global …