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The Arabian Gulf Oil Company (AGOCO), a subsidiary of Libya’s National Oil Corporation, has successfully activated a new oil well in the Sarir field on 17 January. The well, designated L096, commenced operations following the completion of essential mechanical and electrical infrastructure works. AGOCO officials report the new installation will …

U.S. President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most U.S. coastal waters as he made sweeping moves his first hours in office to unleash American energy development. Trump’s move came as part of a broad assault on executive orders issued by former …

On Tuesday, Basrah crude oil prices dropped tracking a decline in global oil markets. Basrah Heavy crude decreased by $0.83, or 1.06%, to $77.60 per barrel, while Basrah Medium crude also decreased by $0.83, or 1.02%, to settle at $80.85 per barrel. The drop comes as global oil prices reacted …

One week into the latest – and most aggressive yet – U.S. sanctions on Russian oil exports, the Asian buyers of Russian crude are scrambling for alternative supply, the price of oil has rallied, and analyses suggest that more than 1 million barrels per day (bpd) of Moscow’s export volumes …

China’s crude oil imports from top supplier Russia were up 1% in 2024 to a record high versus 2023, while purchases from Saudi Arabia dropped 9%, data showed on Monday, as refiners chased discounted Russian supplies to cope with weakened margins. Volumes from Russia – including pipeline and seaborne supplies …

Following Russia’s invasion of Ukraine in 2022, India emerged as a major buyer of Russian oil that was widely and rapidly sanctioned by the West. However, all that may be about to change, courtesy of a fresh wave of U.S. sanctions on Russia and India’s own scramble to find alternatives. …

The director of the state-run Basra Oil Company (BOC), Bassem Abdul-Karim Al-Shamkhani, revealed on Thursday that Iraq and the world’s second-largest oil service company, Halliburton, almost finalized an agreement to develop the Nahr Bin Umar oilfield in the southern part of the country. The Iraqi Ministry of Oil and Halliburton …

Astronomers are sounding alarm bells as the world’s most precious sky-observing location faces a risk of being blinded by light pollution due to a planned renewable energy project. The U.S. energy company AES Energy wants to build a large renewable hydrogen manufacturing complex in Chile, only a few kilometers from …

Russian company Rosatom Director General Alexey Likhachev has said that Iran and Russia will expand cooperation to build new nuclear power plants. Iran has plans to cooperate with the Russian company Rosatom on building small and large scale nuclear power plants, Alexey Likhachev told media reporters on Friday (January 17, …

Russia and Iran have agreed on a gas pipeline route to the Islamic republic through Azerbaijan, negotiations are in the final stage of agreeing on the price of supplies, Russian Energy Minister Sergey Tsivilyov told reporters. “We have agreed on the route through Azerbaijan. We are now in the final …