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.
Sanctions | Egypt Oil & Gas - Part 3
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.
Iran: Domestic Companies Capable of Developing Farzad B Gas Field
Iran will award Farzad B gas field to domestic Iranian contractors if India withdraws from negotiations over the field’s development.
Iran Deal: Saudi Arabia Will Not Act Unilaterally in Oil Markets
Riyadh is working closely with the UAE and Russia on "coordination and market consultations," regarding the impact of US President Donald Trump’s decision to pull out of the 2015 Iran nuclear deal, an OPEC source ...
