- UAE leaves OPEC in blow to global oil producers’ group
- Kuwait declares force majeure on oil shipments amid Hormuz blockade, Bloomberg News reports
- Libya signs preliminary agreement with Chevron to assess shale oil and gas resources
- Middle East conflict could cause 120 bcm of LNG supply loss from 2026-2030, IEA says
- Loss of energy output in MidEast will take about two years to recover, IEA says
- Egypt and Cyprus sign framework agreement for cooperation on gas
- Italy hopes to receive more gas from Algeria, Meloni says
- Kuwait oil CEO says Iran is ‘holding the world’s economy hostage’
- QatarEnergy says it needs to declare force majeure on some LNG contracts
- Saudi boosts Yanbu crude oil exports as it works around Hormuz halt, data shows
News
Sonatrach expects the country’s oil revenues to rise to 50 billion dollars this year 2022
Amid fears of a lack of supply and the repercussions of the Russian-Ukrainian crisis, Algeria benefited from the rise in global oil and natural gas prices, as its revenues jumped by about 70 percent...
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Kuwaiti Haitham Al-Ghais, the new Secretary-General of “OPEC”
Months before the end of his presidency of OPEC, the Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Muhammad Barkindo, passed away. Barkindo had served as the...
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The Russian Energy Minister to declare that the price of oil may rise to 150 dollars per barrel
The Russian Energy Minister, Nikolai Shulgin, announced that the price of oil may rise to 150 dollars per barrel, despite the fact that the current geopolitical and economic situation hinders the...
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The World Bank: Global growth forecasts down to 2.9%, and warnings of “stagflationary risks”
According to Reuters sources, the World Bank on Tuesday, July 5, 2022, lowered its forecast for global growth to 2.9 percent for 2022, warning that the Russian invasion of Ukraine has compounded the...
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Qatar and Germany Sign Agreement on Energy Partnership
Qatar’s Minister of State for Energy Affairs, His Excellency Saad Sherida Al-Kaabi, and the German Minister for Economic Affairs and Climate Action, Dr. Robert Habeck, today signed a Joint...
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QatarEnergy acquires 40% interest in exploration block offshore Egypt
QatarEnergy entered into an agreement with ExxonMobil to acquire a working interest in an exploration block offshore Egypt. Under the terms of the agreement, which is subject to customary approvals...
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The (OPEC +) group keeps its policy unchanged, with an increase of 400,000 barrels per day
OPEC + producers agreed to commit in April 2022 to the modest production increase planned in advance, (400,000 barrels per month since August 2021). In the markets, the price of oil exceeded 110...
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Qatari Energy Minister: Gas supplies from Russia to Europe cannot now be replaced by any country
Qatar’s Minister of State for Energy Affairs Saad Al-Kaabi said in a press conference after the Gas Exporting Countries Forum Summit that the volume of gas supplies from Russia to Europe at the...
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Algeria is willing to support its European partners with additional quantities of gas
European countries expect that Russian gas exports will decline due to the Russian-Ukrainian war, and some of these countries have begun searching for an alternative supplier for gas away from the...
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Russia is not considering cutting natural gas supplies to Europe
In the context of the current conflict between Russia and the West after the Russian attack on Ukraine, there are increasing fears that Russia may stop its gas supplies to Europe. But most analysts...
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