The deal unlocks plans to boost output from the Karachaganak field and funnels additional revenue to the Kazakh economy, which is heading for its first annual contraction in more than two decades amid oil’s slump. SourceContinue Reading

Tensions in the area have risen as the U.S., a Saudi ally, ramps up sanctions on Iran, which backs the Houthis in Yemen’s civil war. SourceContinue Reading

As political and corporate leaders jostle to prove how progressive they are on the issue, the challenge is getting them to make specific, short-term commitments that back up their impressive sounding long-term goals. SourceContinue Reading

Oil Minister Bijan Namdar Zanganeh told lawmakers the government aims to pump 4.5 million barrels a day of oil and gas condensate during the next Iranian calendar year beginning on March 21. SourceContinue Reading

With the Paris Agreement’s decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bets. SourceContinue Reading

The past few weeks for oil have been more than a realignment of supply and demand — huge financial flows are also driving the price rally. In a world that’s expecting to see travel recover sharply next year, crude has become a hot Covid-vaccine trade. SourceContinue Reading

From Azerbaijan to Syria to Libya, Erdogan’s drive to rebuild Turkey’s influence as a regional power has forced Russia to roll back its ambitions. Even as Erdogan increasingly positions himself as a check on the Kremlin’s geopolitical reach, Putin has nothing but warm words for his Black Sea neighbor in public. SourceContinue Reading

Saudi Aramco has hired Moelis and Co. to devise a strategy for selling stakes in some subsidiaries, according to people familiar with the matter. The plan includes raising around $10 billion from a stake sale in Aramco’s pipelines. SourceContinue Reading

Espen Barth Eide, a lawmaker for the Labor Party, says there’s “room for a more explicit form of corporate governance” in the way Norway uses its Equinor stake. SourceContinue Reading

The decision by a state judge means that the Railroad Commission of Texas will not be able to enforce a series of emergency rule-waivers announced in May. District Court Judge Jan Soifer faulted the agency for failing to give the public adequate forewarning. SourceContinue Reading