The OPEC+ talks stalled on Monday after the group failed to reach a consensus on the best path forward for oil production, the body reported on Monday afternoon. OPEC and non-OPEC’s Ministerial Meeting held on Monday will now resume on Tuesday, January 5, giving the group more time to discuss amongst themselves and…
The South Korean government on Tuesday called for the early release of an oil tanker which was seized by Iran’s Islamic Revolution Guards Corps (IRGC) in the Gulf over what Tehran claimed to be “repeated violations” of environmental protocols. Following the seizure on Monday, the IRGC said: “The tanker (Hankuk Chemi), departing from…
MOSCOW/LONDON: OPEC+ resumes debate on Tuesday after talks stumbled over February policy, as Russia led calls for higher output while others suggested holding or even cutting production due to new lockdowns. Debate resumes at 1430 GMT after the group, which combines OPEC and other producers including Russia, failed to find a compromise on…
SINGAPORE: Russian natural gas transported to China via the Power of Siberia pipeline touched 28.8 million cubic meters per day, as of Jan. 3, in order to feed homes and factories as northern China faces frigid weather conditions, national oil and gas pipeline giant PipeChina said. This will put on track an annual…
Along with its biggest anchor, oil and gas, the city is also home to a deep bench of aerospace, health care and Fortune 500 companies. While 2020 wasn’t exactly what anyone expected, Houston’s emergent technology companies are primed to deliver solutions to advance imminent digital transformation in the $3.3 trillion global energy industry as…
Most OPEC+ countries would like to postpone a planned increase in oil output from February due to weakening fuel demand amid new global lockdowns to stop the spread of the coronavirus, three OPEC+ sources said on Monday. OPEC+, a group combining OPEC and allies such as Russia, meets later on Monday after a meeting…
LONDON/DUBAI/MOSCOW -OPEC+ will resume talks on Tuesday after reaching a deadlock over February oil output levels as Saudi Arabia argued against pumping more due to new lockdowns while Russia led calls for higher production citing recovering demand. The unusual decision to push negotiations into a second day was taken after a three-hour debate…
History is full of Black Swan moments, where everyone expected life to carry on as it had done for decades and then it didn’t. Nassim Nicholas Taleb popularized the term with his book of that title, published in 2007, just in time to make it look like he foresaw the 2008/9 stock market crash,…
RIYADH: The Gulf Cooperation Council (GCC), set to meet Tuesday in Saudi Arabia amid a prolonged crisis, is a group of conservative Sunni monarchies sitting on a third of the world’s oil reserves. The political and economic bloc — a regional counterweight to Shiite Iran — comprises Saudi Arabia, Bahrain, Kuwait, Oman, the…
Azerbaijan started commercial natural gas exports to Europe via the U.S.-backed Southern Gas Corridor, helping the region to diversify supplies away from Russia. Gas pumped from the BP Plc-led Shah Deniz deposit in the Caspian Sea began flowing into Italy, Greece and Bulgaria on Thursday, BP and Azerbaijan’s state energy company Socar said…
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