Iran on Monday said there were several issues with the nuclear-deal draft text that the U.S. needs to address before Tehran can agree to it, leaving the fate of the Continue Reading
The prospect of an imminent new “nuclear deal” between the West and Iran is looking increasingly unlikely. A senior political and oil industry analyst highlights that there is very little Continue Reading
A young Kurdish man was killed and two others were wounded Monday in a confrontation between armed protesters and security forces guarding an oil camp east of Erbil. Eyewitnesses, security Continue Reading
Iran will respond to the European Union’s “final” text by midnight on Monday, Iranian Foreign Minister Hossein Amirabdollahian said, calling on the United States to show flexibility to resolve three Continue Reading
Whether or not Tehran and Washington accept a European Union “final” offer to revive the 2015 Iran nuclear deal, neither is likely to declare the pact dead because keeping it Continue Reading
Saudi Aramco plans to raise its sustainable production capacity to 12.3 million b/d by 2025 as the world’s largest oil-exporting company accelerates plans to bring additional output to market to Continue Reading
State oil giant Saudi Aramco on Sunday reported its highest quarterly profit since the company went public in 2019, boosted by higher oil prices and refining margins. Aramco joins oil Continue Reading
Weeks after followers of an influential cleric stormed parliament, Iraq’s political crisis shows no signs of abating, despite rising public anger over a debilitating gridlock that has further weakened the Continue Reading
Moody’s cites inflation, lira devaluation, unorthodox policy Turkey’s rating was cut deeper into junk by Moody’s Investors Service as balance-of-payments risks mount and authorities struggle to stabilize the lira and Continue Reading
Unnamed Iranian diplomat says that proposal for nuclear deal by EU could be acceptable. Iran has been seeking assurances that no other U.S. president could unilaterally withdraw from the deal. Continue Reading
Speculation that a new Iran nuclear deal could soon be agreed upon has added downward pressure to oil prices, although the disruption of Russian oil flows to Central Europe is Continue Reading
Iraq’s most vulnerable citizens are the hardest hit by dust storms, which are growing in frequency and intensity due to both global climate change and government inaction. . View full Continue Reading
Iraq pumped 4.584 million barrels per day (bpd) of oil in July, up by 69,000 bpd from June, data from state-owned marketer SOMO seen by Reuters showed on Wednesday. According Continue Reading
The United States stands ready to “quickly conclude a deal” to revive the 2015 Iran nuclear agreement on the basis of proposals put forward by the European Union, a State Continue Reading
IOCs get blacklisted from operating in Iraqi Kurdistan. Two landmark legal rulings made in February by the Supreme Court of the Federal Government of Iraq in Baghdad paved the way Continue Reading
Iraq’s Oil Ministry has added Russia’s Gazprom and the UAE’s Dana Gas to its list of legal targets in a campaign to invalidate the Kurdistan region’s contracts with international oil Continue Reading
Iran’s chief negotiator in the nuclear talks, Ali Bagheri-Kani, in Vienna on Thursday. The U.N. probe into the man-made nuclear material found in Iran is highly sensitive for Tehran, which Continue Reading
Oil prices inched up from multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China Continue Reading
Turkey’s President Tayyip Erdogan and Russia’s President Vladimir Putin agreed on Friday to bolster cooperation after a four-hour meeting, a joint statement from the two nations has revealed as cited Continue Reading
OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output should the world face a severe supply crisis this winter, sources Continue Reading
Saudi Arabia and the United Arab Emirates have been working to increase their domestic gas production. Middle East oil and gas producers see an opportunity for long-term LNG supply contracts Continue Reading
While Iran says it isn’t trying to build nuclear weapons, a look at its key facilities suggests it could develop the technology to make them. WSJ breaks down Tehran’s capabilities Continue Reading
Highlights Main producing field, Greater Burgan, is aging Kuwait has been averse to foreign investment But $1 billion loan deal with Japan could help Kuwait is close to exhausting its Continue Reading
Iraq is stuck in a purgatory of caretaker governance — unable to make strategic decisions in the oil sector and beyond — as political leaders in Baghdad escalate their 10-month Continue Reading
Lebanon’s armed Hezbollah group threatened Israel that drilling at the Karish gas field could result in war. Israel and Lebanon are in a years-long dispute over the demarcation of their Continue Reading
Saudi Arabia recorded a GDP growth rate of 11.8 percent for the second quarter, driven by a 23.1-percent rise in oil income, according to preliminary data cited by Reuters. The Continue Reading
Iraq’s state-owned Basra Oil Company (BOC) has told international oil companies not to work with four major oil services companies operating in Iraqi Kurdistan — the first sign that the Continue Reading
ADNOC awarded $2 billion worth of drilling contracts for Hail and Ghasha sour gas projects. The UAE is looking to achieve self-sufficiency in natural gas production. The contracts are part Continue Reading
Russia’s Rosatom has awarded TSM Enerji the contract to undertake the remaining construction work at the $20 billion nuclear power plant it is building in Akkuyu in southern Turkey, the Continue Reading
The U.S. is considering sanctions that would target a United Arab Emirates-based businessman and a network of companies suspected of helping export Iran’s oil, part of a broader effort to Continue Reading
Highlights Kingdom’s revenues from oil activities rise 23.1% Platts Analytics estimates fiscal breakeven of $69/b Output quota 11 mil b/d in August under OPEC+ deal OPEC kingpin Saudi Arabia has Continue Reading
With high oil prices and an incredibly tight physical oil market, Iran’s oil industry is bouncing back and providing the government with significant income. China, Russia, Turkey, Venezuela, and Afghanistan Continue Reading
As the OPEC+ group prepares to roll back all production cuts by the end of next month, analysts and the market are searching for the answer to the million-dollar question Continue Reading
Top oil exporter Saudi Arabia could raise September crude prices for customers in Asia for a third month even though refining margins have declined as high fuel prices and persistent Continue Reading
Rockets hit the Khor Mor gas field Monday night for the fourth time in two months, highlighting a major, unresolved threat against a strategically important project that provides the vast Continue Reading
OPEC+ kingpin Saudi Arabia is expected to price its flagship crude to Asia at a record differential for September even as traders see the scope for a weaker spot market Continue Reading
Iraq’s oil production moved sharply higher in June, with a monthly increase of 153,000 barrels per day (bpd) taking output to 4.62 million bpd, the highest since February 2020, according Continue Reading
Iran has seen its oil and condensate revenues rise by 580% between March 21 and July 21. Despite rising oil income, Iran’s inflation rate rose to 40% year-on-year. In recent Continue Reading
Several rockets landed at the Khor Mor gas field in the Sulaimaniya region of northern Iraq on Monday, Iraqi Kurdish officials said, but they did not immediately report any damage Continue Reading
Gazprom’s MoU with the Iranian NIOC marks the next major step in oil and gas cooperation between the two countries. Gazprom has pledged its full assistance to the NIOC in Continue Reading
The bombardment of a tourist resort in Iraqi Kurdistan has further frayed Turkey-Iraq relations against a backdrop of a major legal dispute over oil exports, tensions over cross-border water rights, Continue Reading
Iraq’s Kurdistan agreed with the federal agreement in Baghdad to “increase dialogue” to resolve “outstanding issues” including a dispute about their oil and natural gas rights, the prime ministers of Continue Reading
The bombardment of a tourist resort in Iraqi Kurdistan has further frayed Turkey-Iraq relations against a backdrop of a major legal dispute over oil exports, tensions over cross-border water rights, Continue Reading
Stalled talks between world powers and Iran over a potential nuclear deal have left millions of barrels of Iranian oil hanging in the balance. The Chief of the UK’s MI6, Continue Reading
Saudi Arabia currently generations more than 50 percent of its electricity from petroleum fuels. The Kingdom is looking to pivot to renewables and natural gas to free up oil for Continue Reading
Iraq’s southern oil export capacity may go up to 3.35 million b/d by September from around 3.3 million b/d now, as OPEC’s second biggest producer pumps more crude in line Continue Reading
Iraq has doubled its oil production capacity in the last decade to become the second-largest producer and exporter in OPEC, but the country has failed to realize most of its Continue Reading
A petrodollar windfall is helping some Gulf Arab states pay down debt and providing cash for others to diversify their oil-reliant economies, but it is also testing commitments to fiscal Continue Reading
A three-way summit meeting in Tehran between the leaders of Russia, Iran and Turkey sent a clear signal that Vladimir Putin is pushing back against ostracism from the West. President Continue Reading
Ahead of Russian President Vladimir Putin’s visit to Iran on Tuesday, his second foreign trip since he invaded Ukraine in February, Russian Gazprom and the National Iranian Oil Company have Continue Reading
