Despite the historic OPEC+ production cut deal, available oil storage capacity around the world is running thin as global oil demand continues to crumble amid lockdowns and travel restrictions in Continue Reading
What happens when you give industries that are frequently ostracized for their role in environmental degradation an ‘open license to pollute?’ They take it with open arms. “This is an Continue Reading
Even before the current spate of Saudi-led lunacy in the shape of the oil price war with the two biggest oil producers in the world loomed into view, Kuwait’s 2020/21 Continue Reading
Iran has extended furloughs for prisoners for another month, Iranian President Hassan Rouhani said on Sunday, as the Islamic Republic endeavors to stem the spread of the new coronavirus in Continue Reading
Iraq’s semi-autonomous Kurdish region has committed to trimming its oil output, the country’s oil minister said on Sunday, which will allow OPEC’s second largest oil producer to comply with OPEC+ Continue Reading
Oman has reduced its 2020 state budget by 500 million Omani riyals ($1.3 billion), after directing all ministries to reduce development and operating budgets by 10%, according to state-run news Continue Reading
Iraq will have to cut production from fields operated by international oil companies to comply with the new OPEC+ pact, but the country’s 1.061 million b/d output reduction in May Continue Reading
Natural gas in East Asia costs about the same as coal for the first time, a milestone that is likely to accelerate the region’s U.S.-style energy transformation. Even before the Continue Reading
United Arab Emirates-based companies shipped nearly 11,000 tonnes of jet fuel to eastern Libya, the stronghold of the renegade general Khalifa Haftar, in a suspected violation of an international arms Continue Reading
Two small arms attacks on oil security forces over the past two days are the latest in Kirkuk area security gaps exploited by suspected Islamic State group militants. A senior Continue Reading
