OPEC+ Commits to Modest Production Increase Despite Western Pressure
In a meeting that took place today, OPEC+ decided to stick to its agreed plan to ramp up oil production to 432,000 barrels of per day (bbl/d) in May, Al Sharq reported.
Sanctions | Egypt Oil & Gas - Part 2
Chevron Examines State of Black Sea Export Terminal in Russia
US oil giant Chevron stated that it is currently in the process of assessing the state of a Black Sea port’s export terminal after Russian claims that it may have faced storm damage, according to Reuters.
Baker Hughes Suspends New Investments in Russia
Baker Hughes has announced that it has halted its new investments in Russia due to its invasion of Ukraine.
Shell Intends to Withdraw from Russian Oil, Gas
Shell announced that it intends to withdraw from its all-hydrocarbons business in Russia including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner aligned with new government ...
Iran’s NIOC Sets Plan to Resume Oil Production
The Deputy Director of Production at the National Iranian Oil Company (NIOC), Farrokh Alikhani announced that his company has prepared a precise plan to resume oil production to the pre-sanctions levels in one wee ...
Venezuelan Crude Inventories Surge as Sanctions Loom
Crude inventories at Venezuela’s export terminal, Jose, have surpassed their highest levels since August due to customers' fears over sanctions deadlines.
Saudi Arabia to Cover Iranian India Supply Losses in November
Saudi Arabia is preparing to export an additional 4 million barrels of crude to India in November.
EU Legislation to Circumvent US Sanctions on Iran
The European Union is updating legislation to allow European companies to avoid US sanctions when doing business with Iran.
Iran, Pergas Sign Deal to Develop Keranj Field
Iran and international consortium Pergas have signed a preliminary deal for the development of an oil field in southwestern Iran.
Oil Reaches $80 for First Time since November 2014
Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran.
