Tehran will “prepare resources and oil-industry equipment for the production and export of oil in line with current capacity within the next three months,” according to President Hassan Rouhani’s official website. “We’re ready to quickly raise oil production,” he said. SourceContinue Reading
“The peak of consumption may have already passed,” Deputy Finance Minister Vladimir Kolychev said in an interview in Moscow. “The risk is rising in the longer term” that hydrocarbon revenues could come in below the current outlook, he said. SourceContinue Reading
In the wake of fresh warnings about declining oil demand, a struggle is brewing between key exporters like the U.S. and the OPEC+ alliance to gain market share in the world’s last growth region before it’s too late. SourceContinue Reading
The UAE’s multi-billion-dollar investments to grow oil market share plays into a wider shift in the dynamic between Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed and Saudi Arabia’s Crown Prince Mohammed bin Salman over who in the region holds sway on the international stage. SourceContinue Reading
It’s a tale of two cities with the EU’s largest oil producer swearing off production by 2050, as OPEC+ stalwarts Saudi Arabia and the UAE grapple over who will lead the group’s drive to meet the world’s future oil demand. SourceContinue Reading
In the wake of fresh warnings about declining oil demand, a struggle is brewing between key exporters like the U.S. and the OPEC+ alliance to gain market share in the world’s last growth region before it’s too late. SourceContinue Reading
The largest oil price increase in five months indicates Saudi Arabia is confident global energy demand is strong enough to absorb a small boost in output from OPEC+ members next month, and that markets will remain tight even with parts of Europe and the U.S. in lockdown. SourceContinue Reading
Total has been selling assets to curb debt as plunging oil and gas prices sap earnings, including oil field assets in Brunei and the UK, as well as a stake in a renewables subsidiary in France. SourceContinue Reading
Denmark, the European Union’s biggest oil producer, will stop offering new licenses in the North Sea and phase out production altogether in 2050 as it takes an historic step toward a fossil-fuel free future. SourceContinue Reading
After a split emerged between Saudi Arabia and the United Arab Emirates, the cartel couldn’t agree on what had been widely expected before this week: a full three-month delay to the scheduled January output increase. SourceContinue Reading
