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China on Sunday released a guideline on developing the country’s western regions, ordering the construction of additional oil and natural gas production bases and underground tanks. The guideline urged to optimize supply and demand energy structure, increase the exploration and use of renewable energy, and build a multi-level natural gas …

The Russian Ambassador to Iraq, Maxim Maksimov said that Russia is seeking to invest heavily in Al-Mansouriya gas field, in the Diyala governorate. Maksimov said in a press statement yesterday that “Russian companies are willing to mobilise significant funds and have submitted an investment tender for Al-Mansouriya gas field in …

Iran’s fourth oil tanker named Faxon which carries the country’s oil products has passed through the Gibraltar Strait as western media reports claim that they are destined for Latin America, more specifically Venezuela. Faxon is the fourth Iranian tanker after Forest, Petunia and Fortune which have traversed the Mediterranean and …

In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production. But few expected that the cuts would run this deep — and happen so quickly. Drillers are laying down rigs and shutting in wells at a …

Again, experts are warning that Nigeria as a country is slipping away in the face of global competition among the oil-producing countries. They are of the opinion that Nigeria remains a country to watch in view of the global COVID19 Pandemic. Because she may not be able to withstand the …

Kuwait and Saudi Arabia agreed to stop production from the Al-Khafji crude oil field – part of their shared Neutral Zone – as of June 1, according to a source with knowledge of the situation. The shutdown comes just months after both countries agreed to resume production at the Neutral …

OPEC is cautiously optimistic that the worst of the oil crisis triggered by the coronavirus pandemic is over, said the group’s top official. The outlook for the market in the second half of the year is starting to look more encouraging as the global economy recovers, said Mohammad Barkindo, secretary-general …

The Joint Comprehensive Plan of Action (JCPOA) between Iran and the 5 + 1 group was implemented only by Iran, said Chairman of the Iranian parliament’s national security and foreign policy committee Mojtaba Zonnour, Trend reports citing Mehr news agency. According to Zonnour, one of the important goals of the …

Iranian Minister of Defence Brigadier General Amir Hatami held a video conference with his Iraqi counterpart Juma Anad Saadoun, discussing the expansion of defence cooperation. During the video call, General Hatami Congratulated the appointment of Iraq’s new defense minister and expressed satisfaction with the formation of the government based on …

The Federal Network Agency of Germany refused Nord Stream 2 AG in withdrawing the Nord Stream 2 project from the rules of the updated EU Gas Directive, the regulator said earlier on Friday BRUSSELS, May 15. /TASS/. The European Commission was not involved in the decision taken by the German …