Global electricity consumption will surge this year as the world emerges from the coronavirus pandemic, with fossil fuels supplying almost half the increase in a shift that threatens ambitious net-zero Continue Reading
The United Arab Emirates has made significant progress in resolving its standoff with OPEC+, nearing a compromise that could give the country a more generous output limit next year and Continue Reading
As expected, OPEC leaders Saudi Arabia and UAE have reached a so-called solution to the current export quota conflict. For two weeks, the global oil market was shocked by the Continue Reading
The battle over oil production quotas within OPEC+ is not yet resolved, according to an official statement from the UAE, although some earlier reports suggested that this was so. But Continue Reading
The United Arab Emirates has made significant progress in resolving its standoff with OPEC+, nearing a compromise that could give the country a more generous output limit next year and Continue Reading
Kuwait’s life-after-oil fund may have become one of the world’s biggest sovereign wealth funds thanks to the country’s healthy oil industry, as it continues to prepare for a life after Continue Reading
The United States has decided to temporarily waive sanctions on Iranian oil funds abroad but without returning Tehran’s access to its bank accounts in Japan and South Korea. “Allowing these Continue Reading
Iran, despite being OPEC’s fourth-biggest crude oil producer, faces an unprecedented summer of electricity cuts as power plant disruptions and a lack of investment in new capacity leave output far Continue Reading
Iran is not prepared to resume negotiations on coming back into compliance with the 2015 nuclear deal until Iranian President-elect Ebrahim Raisi’s administration has begun, a diplomatic source said on Continue Reading
Africa’s largest oil producer and exporter, Nigeria, is expected to pass its new petroleum bill—twenty years in the making—as early as Wednesday, despite last-minute amendments that have created some controversy. Continue Reading
