The UAE announced on April 28 that it is withdrawing from both OPEC and OPEC+, a major setback for the oil producers’ alliance and its leading member, Saudi Arabia, according to Reuters. The decision comes amid the ong...
With the ceasefire deadline approaching, US President Donald Trump announced an indefinite extension on the evening of 22 April, stepping back from earlier threats to resume attacks on Iran. In a post on Truth Social, he...
Egypt and Türkiye are set to strengthen mining sector cooperation. Karim Badawi, Minister of Petroleum and Mineral Resources, met Alparslan Bayraktar, Türkiye’s Minister of Energy and Natural Resources, in Istanbul t...
Goldman Sachs has increased its oil price projections for the fourth quarter (Q4), attributing the revision to reduced Middle East output, with Brent crude forecast at $90 per barrel and US West Texas Intermediate (WTI) ...
The closure of the Strait of Hormuz has reinforced the importance of the Iraq-Turkey Pipeline, now Iraq’s only functioning export route following the suspension of Gulf exports. With the waterway’s long-term viabilit...
Prime Minister Mostafa Madbouly urged the government to launch an initiative to incentivize factories and households to transition to solar energy, stressing that this is a top government priority. This came during the C...
Prime Minister Mostafa Madbouly met with Karim Badawi, Minister of Petroleum and Mineral Resources, to follow up on efforts to secure the local market’s needs for natural gas and petroleum products. Madbouly reviewed d...
As the U.S. counter-blockade remains in place without any sign of a breakthrough, there are clear indications that Iran is going to suffer beyond losing its vital revenue from the sale of oil. In fact, it is much more ...
Jordanian Energy Minister Saleh al-Kharabsheh met Algerian Energy Minister Mohamed Arkab on 14 April to discuss potential LNG supply arrangements and broader hydrocarbons cooperation. The talks also covered crude oil shi...
Leading oilfield services providers SLB and Baker Hughes expect a rise in global spending on oil exploration and production, as supply disruptions linked to the Middle East conflict underscore the need for greater invest...
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