Europe will face a gas shortage and price spike as soon as the next decade if it doesn’t decide quickly to boost imports from Russia as gas purchases from the United States or Qatar fail to match demand, Kremlin energy giant Gazprom told Reuters.
Iraq needs $4 billion for new investments in its downstream oil industry, Oil Minister Jabar al-Luaibi said on Tuesday, outlining plans to expand refining capacity over the next several years.
Participants in the global deal on oil output cuts, when deciding when to exit the pact, will take into consideration whether the market is balanced, the U.S. dollar rate and the level of investments, the Russian energy ministry quoted minister Alexander Novak as saying in an interview with Platts.
Saudi Arabia plans to keep its crude oil exports at around 7 million barrels per day for the first quarter despite planned refinery shutdowns, industry sources said, as the OPEC producer is determined to end a supply glut and boost prices.
Saudi Arabia has shortlisted New York, London and Hong Kong - singly or in a combination of two or even all three - for the international portion of the listing of national oil company Aramco, two sources with knowledge of the discussions said...
The government is using money from the Energy Security Fund to manage and plan for gas deficiency in the future. In the past, they were facing difficulty to gather funding to meet import costs of 1,000 Million Cubic Feet per Day (mmcfd) of liquefied natural gas (LNG) and to operate two LNG terminals.
Iraq has invited companies to submit statements of interest in building a new pipeline from the northern city of Kirkuk to Turkey’s Mediterranean port of Ceyhan.
Kuwait’s oil minister said on Thursday it was too early to talk about a strategy to exit the current OPEC and non-OPEC supply cutting pact.
Lebanon’s cabinet approved a bid on Thursday by a consortium of France’s Total, Italy’s ENI and Russia’s Novatek, in the country’s much-delayed first oil and gas offshore licensing round, a government source told Reuters.
International Energy Agency Expects China’s Crude Imports to Soar China has built its crude oil stockpiles at a record pace in 2017 and while its purchases could tail off towards the year-end, [...]
Little Impact for US Actions on Iran’s Oil Exports U.S. crude oil exports hit an all-time high at the end of September, and are poised to surge even more to hit unprecedented [...]
German chancellor Schroeder Working for the Kremlin Former German Chancellor Gerhard Schroeder faced further criticism at home after he was elected as chairman of Russia’s biggest oil producer Rosneft. Schroeder, a Social [...]
No Arab Sanctions Against Global Oil Firms in Qatar Four Arab countries that imposed sanctions on Qatar have told the United States that U.S. companies doing business with them would not be [...]
Oil Companies Find a Way to Circumvent Russia’s Sanctions A gap in U.S. sanctions allows Western companies to help Russia develop some of its most technically challenging oil reserves, and risks undermining [...]
GCC Financial Stability Re-Affirmed After Qatar Crisis Qatar’s stock market may start the week with losses after the central bank of the United Arab Emirates ordered UAE banks to apply enhanced due [...]
By 2030, Oil Prices Would Not Matter for Saudi Arabia The Saudi Deputy Crown Prince Mohammed bin Salman unveiled the nation’s ambitious “Vision 2030” in an interview with Al-Arabiya in April. The [...]
Russia’s Oil Industry Expands Further Despite Prices Storms Exxon Mobil Corp. is suffering from sanctions on Russia. The same can't be said for other big Western energy companies, or for Russia's oil [...]
Doubts Among US Oil Investors on Trump’s Future Energy Policies On the surface, making sense of the latest Trump conspiracy theory while searching for a Nixon-esque smoking gun can be challenging. But [...]
With Prices Down, New Global Discoveries Go Slower Conventional crude discoveries plummeted to a record low last year, one of the world's top energy policy advisers said. And it likely won't get [...]
US Oil Production Hits Expected to Hit a Record in 2018 The Energy Information Administration said domestic output will climb to a record 9.96 million barrels a day in 2018, up from [...]
Oil Markets and the Impact of the Psychological Factor prices have spiked once again on the back of the news that two major parties have agreed that the current oil cut needs [...]
China Stops Part of its Oil Shipments To North Korea As the United Nations Security Council decides whether to tighten the sanctions screws on North Korea, the country's increasingly isolated government could [...]
Tunisian Army Deployed to Protect Scarce Oil resources Tunisia will deploy troops in a southern region to protect oil facilities against attacks from militants in neighbouring Libya, in an area where protesters [...]
Oil Insurers are Waiting for What Russia and Iran will do in Syria The response of Russia and Iran to U.S. missile strikes on Syria will be a crucial determinant of whether [...]
What will Russia Say if Riyadh Proposes a Cut Extension? Saudi Arabia and some Gulf State oil producer-allies appear likely to extend the six-month oil production cut that expires in June, according to [...]
The Industry Holds its Breath Waiting for the Saudi IPO Saudi Arabia gave Saudi Aramco a huge gift this week by slashing the tax rate on the national oil company to 50% [...]
GCC Seeks Free Trade Agreement with UK After Brexit Gulf Arab states are pressing for an early deal on free trade with Britain to secure preferential arrangements after Brexit, and could have [...]
Trump May Drop Emission Regulations. Big Cars are Coming Back When President Donald Trump visits the Detroit area this week, he’ll come bearing a gift: a first step toward relaxing rules that [...]
Saudi Arabia Gives Generous Discount to Asian Clients World's top crude exporter Saudi Arabia cut April prices of light crude it sells to Asia for the first time in three months in [...]
Iran Will Not Produce More than 3.8 Million BBD Until the End of 2017 Iran will keep its oil production cap at 3.8 million barrels per day in the second half of [...]
The US is Moving to Take the First Place in Oil Reserves For decades, the oil market has been dominated by Saudi Arabia, because it not only produced the most oil on [...]
Iran’s Natural Gas Producers: We Do Not Care about Trump’s Threats Iran is hard at work gaining a foothold in the global energy market, and it’s not letting U.S. President Donald Trump’s [...]
US May Beat Russia in Energy Production and Exports President Trump has promised to roll back federal regulations to help U.S. oil and natural gas and to open up new areas for development. [...]
European Oil Companies: $50-60 Per Barrel Suits Us Fine Europe’s big oil companies need oil to stay in a range between US$50 and US$60 a barrel to remain cash flow positive, Fitch [...]
Kuwait Gets Ready for the Post-Cut Return to Full Production Kuwait is sticking with plans to add half a million barrels a day of oil-production capacity as it prepares for the eventual expiration [...]
US Federal Agencies Expect Oil at Mid-$50’s per Barrel in 2017 The U.S. Energy Information Administration suggests in its January Short-Term Energy Outlook that West Texas Intermediate oil prices will average about [...]
Trump’s Oil Policy Shifts Military Away from Oil Wars At a sprawling desert base, a Marine recharged his radio's batteries simply by walking, while nearby fellow troops examined a rocket artillery system [...]
There are Still Some Question Marks about the Stability of OPEC Deal The basic laws of supply and demand can easily cause the OPEC production cuts to not work, but there are [...]
China: Natural Gas Will Remain with us for a Long Time to Come At the Peking University SOE Forum held in Beijing on Wednesday, China’s energy experts and scholars pointed out that the [...]