Tag Archives: Government

Iraq is the second-largest crude oil producer in the OPEC after Saudi Arabia.

PVDSA'.s bonds represent 30 percent of Venezuela'.s external debt -- estimated to be around $150 billion.

Iran. as the largest natural gas reserves holder in the world. has a high capacity for natural gas production and exports.

Acute shortage of natural gas. furnace oil led to closure of several power plants. officials say.

Russia'.s oil minister told representatives of gas exporting nations that EU and U.S. sanctions against oil exporter'.s are ".unacceptable.".

In the middle of last month. Iraqi government forces seized oil fields around Kirkuk. which had been under Kurdish control since 2014.

Iran opened its energy market to foreign investment following the lifting of international sanctions in January 2016.

Venezuela injects most of the natural gas it produces back into oilfields to help maintain pressure and crude output.

Oil sales generate 96 percent of Venezuela'.s hard currency earnings.

Saudi Arabia and Russia have been the drivers of the production agreement.