News Feeds

Author | Legal Icon | Energy Expert

The U.S. Releases 50Million Barrels of Crude Oil from SPR to Lower High Prices

  The US stated on Tuesday that it would release 50 million barrels of crude oil, with 32 million barrels coming from an exchange that will need to be replaced...
Read More

Iran and Azerbaijan Agree to Cooperate on Oil and Gas After Years of Differences

Iran and Azerbaijan have reportedly reached a landmark agreement in principle to cooperate on oil and gas issues. While details on the deal are still vague, it appears that Baku...
Read More

Saudi’s Aramco and India’s Reliance Abandon $15 Billion Oil Deal

Due to the Indian oil conglomerate's shifting priorities, Saudi Aramco and Reliance Industries have cancelled plans for the Saudi oil giant to invest $15 billion in buying 20% of Reliance's...
Read More

Libya’s Energy & Economic Summit Begins; Eni Pledges to Support Development of Libya’s Oil & Gas Prospects

The Libya Energy & Economic Summit 2021, representing the first large-scale international event to take place in Libya in over a decade, featured a presentation by Eni’s Natural Resources General...
Read More

Saudi Arabia Remains China’s Top Supplier for the Eleventh Month in a Row

Per a Reuters report, Saudi Arabia has remained China’s number-one crude oil supplier, customs data for October has shown. Saudi oil exports to China increased by 19.5% from the previous...
Read More

Eni and Egypt Discuss Investment in New Energy Projects at ADIPEC

Claudio Desclazi, Chairman and CEO of Eni, and Tariq El Molla, Egyptian Minister of Petroleum and Mineral Resources, met during the ADIPEC event in Abu Dhabi to discuss plans to...
Read More

OPEC+ Has Delivered More than Any Other Group on the Planet – Prince Salman

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman remarked last week during the ADIPEC 2021 opening ceremony that the OPEC+ group has achieved more impressively than any other group on...
Read More

Tullow Oil Exercises Pre-Emption Rights, Increases Interests in Jubilee and TEN Fields Offshore Ghana

Tullow Oil is to increase its stake in the Jubilee and TEN fields offshore Ghana by 7.7%, with the company having exercised its pre-emption rights to acquire Occidental Petroleum’s interest...
Read More

Oil will Average $79.40 in 2022 – IEA

According to the International Energy Agency, which raised its oil price forecasts for 2021 and 2022, Brent Crude prices are likely to average $79.40 next year. According to the latest...
Read More

Oil will continue to be the Single-Largest Share of Global Energy Mix Until 2045 – Barkindo

The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, said oil will continue to be the fuel with the single largest share of the global energy...
Read More