Follows upgrade to Black Sea gas reserves to 540 Bcm First phase of production targets 10 million cu m/d by 2023 ‘Positive signs’ from East Med wells to date Turkey’s Continue Reading
A top U.S. envoy appealed to Iran to accept a “mutual return” to a landmark nuclear agreement with world powers as diplomats are set to gather to negotiate a cap Continue Reading
The debate about emissions reduction and the path forward for oil companies moved to a whole new level since the International Energy Agency (IEA) dropped last month the bombshell report Continue Reading
Saudi Arabia has lined up 15 banks to manage new multi-billion dollar bond offerings for its flagship oil and gas company, Aramco, according to a number of domestic and international Continue Reading
Blaze at the state-owned Tondgooyan Petrochemical Co. south of Tehran, Iran, on June 3. Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Continue Reading
When Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced that Saudi Arabia was no longer an oil-producing country, he likely didn’t mean literally. “Saudi Arabia is no longer an Continue Reading
production has resumed at the Qayarah heavy oil field in Ninewa province after a 14-month shut-in due to protests at export terminals, OPEC-plus output restrictions, and disputes over crude transport, Continue Reading
Russia’s Lukoil would be “happy” to return to talks on its Iranian oil projects, which were at an advanced stage, once US sanctions on the Middle Eastern country are lifted, Continue Reading
Highlights Deal may have to wait for Iran’s June 18 election Platts Analytics sees full US sanctions relief by Q3 The US State Department signaled June 3 that indirect talks Continue Reading
Iran is investigating a fire that sank one of its largest navy ships early Wednesday in the Gulf of Oman, according to Iranian state media, the latest blow to the country’s Continue Reading
A major oil refinery in Tehran is now engulfed in a huge blaze just hours after on Wednesday morning the Islamic Republic’s largest warship caught fire and sank in the Continue Reading
Saudi Arabia’s oil giant Aramco plans to raise around US$5 billion in a new bond sale as early as this month, as it looks to fund its massive annual dividend Continue Reading
Iraqi oil exports in May averaged 3.336 million barrels per day (bpd), according to Oil Ministry and industry data — a slight decline from April for both the federal government Continue Reading
Owner: National Iranian Oil Refining & Distribution Co. and private owners Overall capacity: 250,000 b/d Notes: Operations are expected to resume June 3 at the Tehran refinery, according to oil Continue Reading
Since the fall of Saddam Hussein in 2003, Iraq has played the main powers in the Middle East off against each other – the U.S. axis focused on Saudi Arabia Continue Reading
Highlights Cabinet calls on oil ministry to conduct ‘appropriate’ study Some politicians have called for changes in financial terms of contracts Oil majors operate some of Iraq’s biggest fields Iraq Continue Reading
Iran and world powers have started what could be their final negotiations to revive a 2015 nuclear accord that limited the Islamic Republic’s atomic activities in return for sanctions relief. Continue Reading
Iran’s production of nuclear fuel plunged in recent weeks, the United Nations atomic agency reported on Monday, following alleged sabotage of its main nuclear facility in April that Tehran has blamed Continue Reading
Iran can boost its crude oil production to as much as 6.5 million barrels per day (bpd) when the U.S. sanctions on its oil industry are lifted, Iranian Oil Minister Continue Reading
The discovery of oil in three new wells in Turkey will add significantly to the country’s output, following Turkey’s biggest ever gas discovery just last year. Turkey’s energy sector is Continue Reading
Iran has started sending crude oil via the Goreh-Jask pipeline that passes by the Strait of Hormuz and ends at the port city of Jask in the Gulf of Oman, Continue Reading
The first Iranian oil shipment in years reached the U.S. shores in March, Reuters has reported , citing data from the Energy Information Administration. The data showed that more than Continue Reading
Iran presidential election on June 18 Zanganeh planning to leave office More oil could go to domestic refined output Iran could “easily” boost its oil production capacity to 6.5 million Continue Reading
General view of Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah Top oil exporter Saudi Arabia is expected to slightly increase Continue Reading
According to senior political and economic sources who work closely with the current Iranian government exclusively spoken to by OilPrice.com last week, the U.S. has agreed to a tentative removal Continue Reading
After over a year of pandemic-driven volatility and weak oil demand, Saudi Arabia is now experiencing an oil export boom. Saudi Arabia’s oil exports increased in March by 75 percent Continue Reading
Iran’s oil minister said the country should try to increase its crude production rapidly, as world powers enter the final stages of negotiations to revive a 2015 nuclear accord with Continue Reading
Iranian oil technicians work in the Azadegan oil field. Sign up for our Middle East newsletter and follow us @middleeast for news on the region. National Iranian Oil Co. will Continue Reading
Iraq plans to complete this year the construction of a new oil pier in its key fuel export and import facility in order to raise trade in refined oil products Continue Reading
The Iraqi federal government and the semi-autonomous Kurdistan Regional Government (KRG) have established three joint coordination centers in an effort to improve cooperation between their respective security forces and close Continue Reading
Candidates in Iran’s presidential elections have always been strictly vetted, and those deemed insufficiently loyal to the Islamic Revolution were disqualified. Within those limits, contenders held differing views on easing Continue Reading
Bharat Petroleum Corporation Limited (BPCL), a state-controlled Indian refiner, could resume buying crude from Iran once U.S. sanctions are lifted, but it would only do so if the Islamic Republic Continue Reading
Iran is banning electricity-sapping cryptocurrency mining until the end of September as it grapples with power blackouts amid electricity scarcity. Even before the peak summer electricity demand season, Iran has Continue Reading
If the ongoing talks about the U.S. and Iran returning to the nuclear deal result in an agreement, it will be in August at the earliest that Iranian barrels will Continue Reading
The Arab Gulf oil producers are expected to slash their combined government deficits to some $80 billion this year from $143 billion last year, thanks to higher oil prices, reopening Continue Reading
Iran on Tuesday announced a list of mostly conservative or hard-line candidates for next month’s presidential election, after several moderate politicians were barred from running. Iran’s Guardian Council, which approves Continue Reading
Iran may have some 69 million barrels of oil in floating storage waiting on tankers to travel to buyers when U.S. sanctions on its crude oil exports are removed, estimates Continue Reading
April oil production was 3.39 million b/d Domestic crude 13% higher than earlier estimate Iraq has busted its quota since February Iraq, OPEC’s second largest producer, has revised upward its Continue Reading
The head of the UN’s nuclear watchdog has warned that Iran is enriching uranium at purity levels that “only countries making bombs are reaching”. Rafael Grossi, the director-general of the International Continue Reading
Some $150 billion in oil revenues has been stolen and smuggled out of Iran since the fall of Saddam Hussain in 2003, the president of Iraq said, as quoted by Continue Reading
The ten OPEC members bound by the OPEC+ production agreement have increased their collective crude oil exports by more than 1 million barrels per day (bpd) so far in May, Continue Reading
Around 32 million barrels of Iranian oil on water Floating oil volumes have more than doubled since January Iran laying the ground for an export revival Iran is starting to Continue Reading
Highlights Extension runs to June 24 Iran pumped 2.43 mil b/d in April: S&P Global Platts OPEC survey Fifth round of JCPOA talks set for this week Negotiations between Iran Continue Reading
A mysterious air base is being built on a volcanic island off Yemen that sits in one of the world’s crucial maritime chokepoints for both energy shipments and commercial cargo. Continue Reading
A number of peculiar things have happened in the Middle East in the past few weeks involving the U.S., Saudi Arabia, and the UAE, all with some sort of focus Continue Reading
The biggest oil-exporting region in the world, the Middle East, has set its sights on becoming a major clean energy exporter of green hydrogen. The largest oil producers in the Continue Reading
Workers measure the pressure at the Central Processing Facility at the Tawke oil field in Iraqi Kurdistan in August 2012. (SEBASTIAN MEYER/Metrography/Iraq Oil Report) A decision by the Kurdistan Regional Continue Reading
Highlights President Rouhani says nuclear talks will continue China-Iran bilateral deal secures trade despite sanctions Oil-for-railroads barter deal proposed The International Atomic Energy Agency could get a one-month extension of Continue Reading
Oil at $70/b was ‘temporary’: HPCL Iranian crude grades meet India refinery specs India discovered Farzad B in 2008 India is still hopeful it can participate in the Farzad B Continue Reading
TEHRAN, Iran (AP) — Iran’s hard-line parliament speaker said Sunday a temporary deal between Tehran and international inspectors to preserve surveillance images taken at nuclear sites had ended, escalating tensions Continue Reading
