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Oil prices will top $30 a barrel this summer as demand will start to recover slowly, Alexander Dyukov, CEO at Russian oil producer Gazprom Neft, told a Russian television channel in an interview. Dyukov said that he hoped oil prices would exceed $30 a barrel in the summer and approach …

Energy-related carbon dioxide (CO2) emissions in the US declined year-on-year by 2.8% in 2019, the country’s Energy Information Administration (EIA) said on Tuesday. The US’ energy-related CO2 emissions registered at 5,130 million metric tons (MMmt) in 2019, which was slightly below the level recorded in 2017 of 5,131 MMmt, the …

It is becoming increasingly clear that the ongoing oil demand destruction, COVID-19 lockdowns and financial crisis are going to significantly impact Saudi Arabia. In a dramatic appearance, Saudi Minister of Finance, Mohammed Al Jadaan, stated that the Kingdom is going to take any measures necessary to counter the effects of …

Social distancing is directly affecting global travel, logistics and material handling, as well as potentially creating gaps along the oil and gas supply chain that will take some time to fix, says GlobalData, a leading data and analytics company. The company’s report, ‘Coronavirus (COVID-19) Case Study: Impact on Oil & …

Iranian Permanent Representative to the International Organizations in Vienna said by accepting 21 percent of total inspections of the International Atomic Energy Agency (IAEA) in 2019 and also accepting over 90 percent of inspections in its own group, Iran is now on top of the list. Speaking to reporters, Kazem …

With the U.S.’s patience wearing thin on its dealings with neighboring Iran, endemic corruption still prevalent in both the south of the country and in the northern semi-autonomous region of Kurdistan, and enduring political chaos with frequently-changing prime ministers popping up whilst the real power remains with firebrand cleric Moqtada …

The world’s three biggest oil-producing countries, Saudi Arabia, Russia and the US have intensified their fight for a greater share of the global oil market as sluggish oil demand worldwide continues with low crude prices. Due to the novel coronavirus (COVID-19), oil consumption around the world has weakened over the …

Following in the footsteps of U.S. energy giant Exxon Mobil, Italian Eni and French Total are postponing their proposed gas exploration operations in the Eastern Mediterranean for about a year, according to reports Monday. The companies notified the Greek Cypriot administration about their decision to delay their drilling operations until …

U.S. natural gas futures jumped on May 4 to a 15-week high on forecasts for cooler weather and more heating demand over the next two weeks than previously expected and a slowing of output as drillers shut oil wells in shale basins due to the 67% collapse in crude prices …

Indian refiners have stored about 32 million tonnes of oil in tanks, pipelines and on ships, taking advantage of low oil prices to help the nation cut its import bill, oil minister Dharmendra Pradhan said on Monday. India, the world’s third biggest oil importer, buys over 80% of its oil …