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U.S. President Donald Trump on Sunday welcomed a deal to cut oil production reached by the Organization of the Petroleum Exporting Countries (OPEC) and some other major oil producing countries, known as OPEC+, as it will save hundreds of thousands of U.S. energy jobs. “The big Oil Deal with OPEC …

OPEC is to exempt Libya from a plan to slow down oil production for a period of two months, starting next May, due to the production lost through the closure of ports and fields by pro-Haftar militias east of Libya. The oil-exporting countries, with the exception of Mexico, have agreed …

Pressure mounted on Mexico on Saturday to agree on cuts to oil output that would set the seal on the biggest production deal in the industry’s history. The OPEC+ alliance led by Saudi Arabia and Russia was said to have made some progress on Saturday as negotiations with Mexico continued, …

Gazprom is ramping up production and pipeline transmission from its Eastern Gas program. Commercial A+B+C1+C2 gas reserves within Gazprom’s licensed areas in Eastern Siberia and the Far East exceed 5 trillion cu m (tcm). Gazprom is ramping up production and pipeline transmission from its Eastern Gas program. Commercial A+B+C1+C2 gas …

Iran’s first vice president says new economic programs are required in order to tackle the repercussions of the coronavirus outbreak. Es’haq Jahangiri said Saturday the COVID-19 epidemic affects people’s health and has economic and social consequences. “The most important responsibility of the Ministry of Economic Affairs and Finance is to …

A new 500MW solar photovoltaic plant in Spain, described by the Spanish utility Iberdrola as ‘the largest in Europe’ has entered operation. The Núñez de Balboa facility, which involves an investment approaching €300 million (£263m), has more than 1.4 million solar panels and will generate enough clean energy to supply …

The federal government intends to restrict Kurdistan Region by OPEC agreement to reduce crude oil production. The advisor to the Prime Minister, Mathar Muhammad Salih indicated in a statement quoted by the semi-official newspaper, Al-Sabah, in its Sunday edition, to what he called “the importance of the oil ministry restricting …

The US stepped up pressure on Saudi Arabia to seal a historic deal to cut oil production as negotiations that President Donald Trump himself has brokered dragged on for a third day. Talks aimed at ending a price war that’s savaging the US oil industry and threatening petrostates’ budgets continued …

Republican U.S. senators from oil states who recently introduced legislation to remove American troops from Saudi Arabia said on Saturday they had spoken with three officials from the kingdom and urged them to take concrete action to cut crude output. Saudi Arabia and Russia were close to finalizing a deal …

On Thursday, Riyadh, Moscow and other OPEC+ members and partners tentatively agreed to cut crude output by some 10 million barrels per day (bpd) over the next two months, with the deal requiring each country to cut about 23 percent of its output. Saudi state-owned oil giant Saudi Aramco has …