Kuwait Petroleum Corp (KPC) has offered prompt-loading fuel products on the spot market for the first time since the outbreak of the Iran war, four sources familiar with the matter revealed, according to Reuters.< ...
Saudi Arabia to increase its reliance on imported fuel oil for power generation this summer, following a loss of natural gas supplies from oilfields shut down after the Iran war curtailed its oil exports, Analysts ...
OPEC reduced its forecast for global oil demand growth in 2026, citing the impact of the ongoing war in Iran that has effectively shut the Strait of Hormuz, a critical global oil transit route. The closure has cur ...
Iraq is moving forward with plans for the $5 billion Basra–Haditha crude oil pipeline, establishing a high-level commission to oversee development of the strategic project.
India is poised to receive its first shipment of Iranian oil in seven years, following the temporary lifting of US sanctions on Iranian crude and refined products to ease global supply pressures, according to Reut ...
Eight members of the OPEC+ alliance have agreed to increase oil production by 206,000 barrels per day (bbl/d) starting in May 2026, as part of a gradual plan to ease earlier supply cuts and support market stabilit ...
Iraq’s Ministry of Oil stated that newly developed refineries are now operating at 100% capacity, marking a major advance in the country’s refining sector and positioning Iraq among petroleum-product exporters tha ...
US energy majors ExxonMobil and Chevron have expressed tentative interest in re-engaging with Venezuela’s petroleum sector following the easing of US sanctions, provided that the country establishes robust legal a ...
Ministry of Petroleum and Mineral Resources announced a new offshore oil discovery in the Gulf of Suez after drilling the NER-1X well. Production is expected to begin within days at about 3,000 bbl/d, using the ex ...
"Egypt's Oil and Gas production is back on Track, with the sector succeeding in overcoming the decline witnessed in recent years to start a phase of gradual production increases," the Ministry of petroleum and Min ...
