Russia, China, and the European signatories to the so-called Iran nuclear deal agreed on Friday to intensify talks on bringing the United States and Iran back into the Joint Comprehensive Continue Reading
A resurgent Iran pumped its largest volume of crude in almost two years in April, while an increasingly compliance-challenged Russia also boosted its output yet again, bringing total production by Continue Reading
Saudi Arabia’s GDP shrank 3.3% in the first quarter due to lower oil production from a year-earlier period, as the biggest Arab economy suffers from adherence to OPEC+ cuts. Not Continue Reading
Iraq has extinguished a fire at a second well in Bai Hassan oil field in the Kirkuk region that was set on fire after an explosive attack on May 5, Continue Reading
As the indirect talks between the United States and Iran are making some progress but not major breakthroughs, diplomatic shuttles of U.S. officials and senators in the Middle East in Continue Reading
Insurgents bombed two oil wells at Kirkuk’s Bai Hassan field and killed at least one guard on Wednesday — the latest sign that energy infrastructure remains vulnerable as the self-proclaimed Continue Reading
As the indirect talks between the United States and Iran are making some progress but not major breakthroughs, diplomatic shuttles of U.S. officials and senators in the Middle East in Continue Reading
Saudi Arabia’s national oil company Aramco has again outperformed forecasts. The world’s largest oil company, and 2nd largest listed company, reported a free cash flow of $18.3 billion in Q1 Continue Reading
Iraq’s Bai Hassan oil field in the northern Kirkuk region was attacked by explosives on May 5 causing two wells to catch fire and leaving casualties, the oil ministry said, Continue Reading
The world’s largest oil exporter, Saudi Arabia, could see its budget deficit drop to below 5 percent of gross domestic product (GDP) this year if oil prices average $60 per Continue Reading
Natural gas and oil will miss out on increased investments set to pour into petrochemicals and power plants in the Middle East and North Africa region over the next five Continue Reading
Iran has banned the use of air conditioning at Tehran’s state agencies as the country looks to save electricity consumption amid low power generation and prioritize electricity supply to homes Continue Reading
Iraq posted a slight increase in oil sales last month, around 21,000 barrels per day (bpd) more than in March, but revenues fell by about 5 percent as global crude Continue Reading
Iran will be able to raise its crude oil exports to 2.5 million barrels per day (bpd) after the U.S. sanctions on its oil industry are lifted, a top Iranian Continue Reading
Iraq is in talks with ExxonMobil to take over its 32.7% stake in West Qurna 1, the country’s oil minister said May 3, as the US major seeks to exit Continue Reading
Dubai — Saudi Arabia’s real oil GDP is projected to contract by 0.5% in 2021, compared with a contraction of 6.7% in 2020, given production levels agreed by the OPEC+ Continue Reading
Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. The Continue Reading
The Saudi government is indeed in advanced talks with several Chinese entities – sovereign wealth funds and oil companies – to sell a 1 per cent stake in its flagship Continue Reading
Iraq could buy ExxonMobil’s 32.7-percent stake in one of the largest oilfields in OPEC’s second-largest producer, West Qurna 1, Bloomberg quoted Iraq’s oil minister Ihsan Abdul Jabbar Ismaael as saying Continue Reading
Aramco’s downstream business consumes 43.8% of its crude production Total Q1 hydrocarbon production averages 11.5 million boe/d Q1 profit rises 30.3% on year to $21.72 billion Dubai — Saudi Aramco’s Continue Reading
At least three rockets hit the Iraqi military air base of Balad, north of Baghdad, where some U.S. contractors are billeted, Iraqi security officials said on Monday. Three other rockets Continue Reading
Iraq’s Parliament votes for an emergency 12 trillion ($10.2 billion) financing law on Nov. 12, 2020. (Source: Iraqi Parliament media office) BASRA – Oil Minister Ihsan Ismaael has filed an Continue Reading
irkuk exports from Turkish port fell 3.7% Iraq beached its OPEC+ quota in March Iraq’s quota will rise to 3.905 million b/d in May Dubai — Iraq’s federal oil exports, Continue Reading
Iran expects to export as much as 2.5 million b/d of crude after the removal of US sanctions as the third round of talks between Tehran and some signatories to Continue Reading
Turkey logged 340 coronavirus-related deaths and 25,980 new cases in the last 24 hours, Health Ministry data showed on Sunday, the third day of a nationwide lockdown, including curfews, closed Continue Reading
Iran’s supreme leader on Sunday criticised its foreign minister, who said in a leaked interview that the elite Revolutionary Guards had more influence in foreign affairs and Tehran’s nuclear dossier Continue Reading
White House National Security Advisor Jake Sullivan delivers remarks during a press briefing inside the White House in Washington, U.S., February 4, 2021. REUTERS/Tom Brenner Indirect negotiations between the United Continue Reading
OPEC likely raised its total oil production in April, driven by another supply increase from Iran, one of the three OPEC members exempted from the OPEC+ production cuts, according to Continue Reading
Oil Minister Ihsan Ismaael has filed an official objection to several key provisions in Iraq’s 2021 national budget law, including problems that would result in payment delays for oil companies. Continue Reading
The China Petroleum & Chemical Corp. (Sinopec) last week signed a 25-year deal with Iraq’s Ministry of Oil that gives it a 49 per cent stake in the Mansuriya non-associated Continue Reading
French energy major Total said it is too early to consider a return to Iran even as negotiations for the US to return to the Iran nuclear deal start to Continue Reading
Nationwide oil output fell by 100,000 bpd, but the Oil Ministry is poised to bring new production online as OPEC quotas look set to ease. A Basra Oil Company worker Continue Reading
Major Chinese investors, including the sovereign wealth fund China Investment Corporation (CIC) and Chinese national oil companies, are the ones looking to buy a stake at the biggest oil company Continue Reading
Crown Prince Mohammed bin Salman has said Saudi Arabia wants to resolve its differences with rival Iran, a marked shift in tone in the wake of the election of US Continue Reading
Iran on Tuesday renewed a call for a prisoner exchange with the United States as the longtime foes continue talks with world powers over a possible U.S. return to Tehran’s Continue Reading
A major threat is brewing for international oil and commodity markets in the coming months. There has been an increase in the amount of drone and missile attacks on Saudi Continue Reading
Saudi Arabia expects to benefit from a future drop in oil supply from major producers such as the US and Russia and pump more crude to cater to global demand Continue Reading
Aramco is considering the sale of a stake in its vast natural gas pipeline network to help free up cash and draw more international investors to Saudi Arabia, people familiar Continue Reading
Saudi Arabia could save some $200 billion over the next ten years by switching from crude oil to natural gas and renewables for electricity production, Reuters reports , citing the Continue Reading
A drone attack set an oil tanker off the Syrian coast on fire, the country’s oil ministry said as quoted by various media, adding that it suspected the attack came Continue Reading
Saudi Arabia is closer to developing 3.3 GW of solar capacity up from only 300 MW currently operational as plans were announced earlier this month for seven projects, according to Continue Reading
Turks will be required to stay mostly at home under a nationwide “full lockdown” starting on Thursday and lasting until May 17 to curb a surge in coronavirus infections and Continue Reading
Qatar Petroleum plans to issue up to $10 billion of bonds as soon as this quarter to fund a massive natural-gas project, according to a person with knowledge of the matter. The state Continue Reading
Yemen’s Iran-aligned Houthi movement launched a drone attack on a military base in the southern Saudi city of Khamis Mushait at dawn on Monday, the group’s military spokesman said on Continue Reading
A recording of Iran’s foreign minister offering a blunt appraisal of diplomacy and the limits of power within the Islamic Republic has leaked out publicly, providing a rare look inside Continue Reading
In a leaked audiotape that offers a glimpse into the behind-the scenes power struggles of Iranian leaders, Foreign Minister Mohammad Javad Zarif said the Revolutionary Guards Corps call the shots, Continue Reading
Iran’s crude oil exports since the start of the month have averaged around 500,000 bpd, according to a Reuters report that cites estimates from tanker tracking companies. This is lower Continue Reading
Yemen’s Houthi movement launched an attack with a drone on an Aramco facility in the southwestern Saudi city of Jizan as well as targeting the King Khalid air base with Continue Reading
After signing a Heads of Agreement with Total, Iraq is entering a difficult phase of negotiation over the contracts that would govern the multi-billion-dollar, multi-faceted energy investment. In a statement Continue Reading
Iraq aims to finalize the sale of Exxon’s stake in the West Qurna-1 oil field by the end of June even after rival U.S. supermajor Chevron Corp. rejected overtures to buy the Continue Reading
