Latest Stories

Iraq’s Karbala oil refinery struggles to reach full capacity

10 August 2023

Iraq’s 140,000-bpd Karbala oil refinery has struggled to reach its expected throughput capacity following severe technical difficulties that saw the plant taken offline in June.

Chevron and Genel withdraw from Kurdistan’s Sarta

10 August 2023

US major Chevron Corp. and London-listed Genel Energy are pulling out of the Sarta concession in the Kurdistan Region of northern Iraq as the prolonged closure of a pipeline to the Mediterranean takes its toll.

EU executive grants Tunisia €307mn to finance ELMED electrical interconnection to Italy

10 August 2023

The European Commission signed a €307mn agreement with the Tunisian Electricity and Gas Company (STEG) to finance the ELMED electrical interconnection project between Tunisia and Italy on August 8.

Competing objectives in the Amazon rainforest

10 August 2023

The Belem Declaration is not likely to have much of an impact on oil and gas drilling in the river basin, especially since it was drawn up by parties that are not in agreement on the issue.

Colombia’s Ecopetrol reports 61% y/y decline in net profit in Q2

10 August 2023

Ricardo Roa, CEO of the state-controlled oil company, stated during a press conference in Bogota that the decline is attributed to a decrease in oil prices, which fell from $105 per barrel in the first half of the previous year to the current $80.

Iran oil output to reach 3.5mn bpd as exports hit five-year high

10 August 2023

The chief executive officer of the National Iranian Oil Company, Mohsen Khojastehmehr, has announced that Iran is set to achieve crude oil production of 3.5mn barrels per day by the end of September.

Russian gas company revenues set to more than halve in 2023

10 August 2023

Russian natural gas companies could see their revenues plummet by over half in 2023 compared with the previous year, according to findings released on August 7 by Russian consulting firm Yakov and Partners.

Driftwood LNG’s supply deal with Gunvor terminated

9 August 2023

A 10-year LNG supply agreement between Driftwood LNG, the subsidiary of US LNG developer Tellurian, and Gunvor Singapore Pte Ltd has been annulled, according to a filing by Tellurian to the US Securities and Exchange Commission on August 1.

Senegal says work on FPSO for Sangomar block is more than 90% complete

9 August 2023

Senegal’s Ministry of Petroleum and Energy says that work on the FPSO that will be installed at the Sangomar offshore oilfield is more than 90% complete.

Japan’s LNG imports set to fall with relaunch of nuclear reactors

9 August 2023

LNG imports by the world’s top buyer are set to drop in 2023 as Japan reboots nuclear reactors in order to address its energy shortage Reuters reported on August 3.

Asian oil imports reach 27.92mn bpd in July

9 August 2023

Crude oil imports into Asia rose to a record high of 27.92mn bpd during July, according to data compiled by Refinitiv Oil Research. The huge volume is attributed to purchases made by the region’s big buyers, China and India, of Russian crude.