Saudi Aramco said oil-output capacity across the world is dropping quickly and companies need to invest more in production. It’s a “huge concern,” Chief Executive Officer Amin Nasser said in Continue Reading
Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets. Latest developments Iran’s Deputy Foreign Minister Ali Bagheri Kani said he’ll head to Brussels on Continue Reading
Iran needs some $11 billion in investments to develop oil fields along its border with Iraq, Bloomberg has reported , citing the new head of the National Iranian Oil Company Continue Reading
Saudi Arabia said it would use one of the world’s biggest natural-gas projects to make blue hydrogen, as the kingdom steps up efforts to export a fuel seen as crucial Continue Reading
Saudi Arabia’s crown prince said on Saturday that the world’s top oil exporter aims to reach zero-net emissions by 2060 and will more than double its annual target to reduce Continue Reading
Kuwait will be able to unlock some 500,000 b/d of potential output capacity in the next two years, the head of its state oil company said Oct. 22, seeking to Continue Reading
o one lives here anymore. The mud-brick buildings are empty, just husks of the human life that became impossible on this land. Wind whips through bone-dry reeds. For miles, there’s Continue Reading
Israel, Egypt holding talks on new onshore pipeline -ministry New pipeline expected to cost $200 mln -industry sources Pipeline will boost exports by 3 to 5 bcm/year -industry sources LONDON, Continue Reading
Iraq’s countrywide oil output increased 3 percent in September as OPEC-plus quotas rise. Iraqi Drilling Company personnel drill a well at the West Qurna 1 field in Basra in May Continue Reading
Even if OPEC+ were to boost oil supply to the market, as major consuming nations have called for, it wouldn’t have much difference on the global natural gas market, Saudi Continue Reading
Oil prices could hit $100 a barrel during the first half of 2022 amid low global commercial stocks, Iraq’s Oil Minister Ihsan Abdul Jabbar Ismaael said on Wednesday, as carried Continue Reading
The Qayarah heavy oil field in Ninewa province is back online, after Iraq’s Oil Ministry and operator Sonangol reached another short-term agreement to resume partial production. Roughly 10,000 barrels per Continue Reading
Iraq is perfectly capable of producing 8 million bpd of crude oil, or even its original figure of 12 million bpd Officially, according to the EIA, it holds a very Continue Reading
Last week’s meeting between Russia and Saudi Arabia to deepen cooperation in energy and other sectors shows that Moscow is serious about splitting Riyadh away from its long-time ally, the Continue Reading
A gas pump at a petrol station in Seoul June 27, 2011. REUTERS/Jo Yong-Hak/File Photo Oct 17 (Reuters) – Iraq’s oil ministry spokesman said that an oil price above $80 Continue Reading
Talks were last held in June 1.5 mil b/d of Iranian crude hangs in the balance US special envoy for Iran visiting UAE, Saudi Arabia, Qatar Talks to restart the Continue Reading
Geopolitics, Politics & Conflict Turkey is one of the biggest natural gas importers in Europe and now finds itself in a difficult position where it has to buy more gas Continue Reading
Last week, Saudi Aramco’s chief executive officer, Amin Nasser, said that the company expects to boost its oil production capacity to 13 million barrels per day (bpd) by 2027. The Continue Reading
Israel will no longer issue permits for onshore oil exploration, Energy Minister Karine Elharrar said on Wednesday at a committee hearing of the Israeli Parliament, the Jerusalem Post reported . Continue Reading
Shares in the utility closed down 8.4 percent at 66.7 riyals ($17.78) on Tuesday. ACWA Power International slumped as much as 10% on its second day as a listed company, Continue Reading
A combination of corruption, incompetence, and underinvestment have led to a major fuel crisis in Lebanon This weekend, the country saw a 24-hour blackout that was only solved when the Continue Reading
Lebanon’s Hezbollah chief Sayyed Hassan Nasrallah repeated calls on Monday for the cabinet to seek a U.S. sanctions waiver to import Iranian fuel and alleviate crippling shortages. Nasrallah said the Continue Reading
Saudi Aramco (2222.SE) has asked banks to arrange a loan expected to be in the $12 billion-14 billion range that it plans to offer to buyers of its gas pipeline Continue Reading
Vote counting was underway in Iraq on Monday, a day after a record low turnout in a parliamentary election, reflecting what many Iraqis said was a loss of faith in Continue Reading
The two main power plants in crisis-hit Lebanon have gone out of commission, effectively stopping all state electricity in the country. The shutdown on Saturday of the Deir Ammar and Continue Reading
Lebanon’s power supplies were back to normal on Sunday after a blackout the previous day when the country’s two biggest power stations shut down because of a fuel shortage, the Continue Reading
Lebanon’s energy ministry said on Sunday it received central bank approval to for $100 million in credit to issue fuel import tenders for electricity generation. The ministry added in a Continue Reading
As Lebanon’s economy unravels, political instability in the deeply divided country is ratcheting ever upward. As the economic crisis deepens, with little to no credible attempts from Beirut to turn Continue Reading
Saudi Arabia is finally recovering from a disastrous year in 2020, with its oil revenues surpassing pre-pandemic levels A major focus for Saudi Arabia going forward is to retain its Continue Reading
Highlights First phase of Masdar deal includes 1 GW Iraq also has renewable deals with TotalEnergies, PowerChina It needs renewables to lower reliance on oil, gas in power generation Iraq Continue Reading
The Iraqi Cabinet has approved the newly formed Iraqi National Oil Company (INOC) to take a partnership stake in a multi-faceted energy deal. Leadership from French oil firm Total and Continue Reading
Highlights Iraq also has renewables deals with TotalEnergies, PowerChina, Masdar It wants to generate 7.5 GW of renewable power before 2023 Iraq is seeking to lower dependence on gas, oil Continue Reading
Highlights INOC to take 40% stake in TotalEnergies’ Basra project: oil minister Chevron project to be finalized in next few weeks Iraq to remain reliant on Iranian gas for a Continue Reading
Highlights TotalEnergies signed $27 billion worth of deals with Iraq in Sep INOC is a revived company that was dissolved in 1987 The Iraqi cabinet has approved Iraqi National Oil Continue Reading
Iraq’s newly founded Iraq National Oil Company was created to fairly distribute they nation’s oil wealth to its citizens. Having a national oil company is a good idea in that Continue Reading
Four months after the Ninewa province field came back online, production has again stopped. A wellhead at the Qayarah oil field. (Photo credit: Sonangol) ERBIL – Production has halted at Continue Reading
Saudi Arabia booked its highest-ever quarterly foreign direct investment (FDI) in the second quarter, thanks to a large oil pipeline infrastructure deal that state oil giant Aramco closed in the Continue Reading
Highlights Chevon, Iraq had signed framework agreement in Aug 2020 Committee recommends moving ahead with Nebras petchem project Expansion of Diwaniyah refinery approved An Iraqi government energy committee backs holding Continue Reading
Saudi Arabia’s oil revenues are flowing in at the highest rate in three years Saudi Arabia is already close to pre-pandemic production levels of 9.8 million barrels daily, and oil Continue Reading
Iran said its demand that the U.S. unblocks $10 billion of its oil funds trapped overseas is “one example” of what Washington could do to generate good will before big-power Continue Reading
Last year, with oil prices floundering near the $40 mark for much of the year, most of the Gulf economies were in dire straits due to their heavily oil-reliant economies Continue Reading
The seismic, multi-generational Iran-China deal is set for full roll-out. Full membership of the economic, military and political, SCO alliance will lead to major strategic investments in Iran’s up-and-downstream sectors. Continue Reading
Amir, an engineering master’s student standing outside Tehran University, had thought about going into digital marketing, but worried that Iran’s government would restrict Instagram, as it had other apps. He Continue Reading
Iran and Venezuela have struck a deal to swap heavy Venezuelan crude for Iranian condensate, Reuters has reported , citing unnamed sources familiar with the deal. According to these sources, Continue Reading
Iraq flares the second largest quantity of gas in the world Deal with Baker Hughes to capture 200 million standard cubic feet per day from major oilfields Flaring deals could Continue Reading
Geopolitics & Conflict Lebanon, in full crisis mode, has rejected Israeli gas exploration in a disputed area in the Levant Basin. Israel has already signed a contract for exploration with Continue Reading
Iranian Foreign Minister Hossein Amirabdollahian said on Saturday that when his government says it will return soon to talks on resuming compliance with the 2015 nuclear deal, it means when Continue Reading
Iran’s new foreign minister said Friday the country will return to nuclear negotiations “very soon,” but accused the Biden administration of sending contradictory messages — saying it wants to rejoin Continue Reading
Military forces of the Iran-aligned Houthi movement in Yemen are advancing amid heavy fighting in the regions of Yemen that hold its oil and gas fields and assets, sources from Continue Reading
War-torn Yemen, where the overwhelming majority of the population is unvaccinated, is seeing coronavirus cases multiply and deaths soar, according to a report this week by the British charity Oxfam. Continue Reading
