The debt dates back to 2020, but payment was stalled amid sanctions against Iran by the United States.

Egypt and the European Union have reviewed and discussed enhanced cooperation on climate, energy and industrial transformation challenges ahead of COP27 in Egypt later this year. On Wednesday, on the occasion of the visit of European Commission President Ursula von der Leyen and her meeting with Egyptian President Abdel Fattah El...

The US Federal Reserve announced the most aggressive interest rate increase in nearly 30 years on Wednesday, and said it is prepared to do so again next month in an all-out battle to drive down surging inflation. It was the first 75-basis-point increase since November 1994.

Russia's war against Ukraine has exposed our European dependency on Russian fossil fuels, and we want to get rid of this dependency," European Commission President von der Leyen said.

Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant said, amid tensions between Moscow and the West following its invasion of Ukraine. "Eni confirms that Gazprom has announced a limited reduction in gas supplies for today, amounting to around...

Lebanon Tuesday made a new offer to a visiting US mediator over a maritime border deal with Israel, holding back on demands for territory where Israel plans to imminently extract gas, an official said. Beirut's proposal however included a claim for all of a separate field that it had initially...

Hundreds of people and several lawmakers protested Saturday in southern Lebanon against Israel moving a gas production vessel into an offshore field partly claimed by Beirut. Lebanon's powerful Iran-backed Hezbollah group this week warned Energean against proceeding with its activities.

President Joe Biden on Friday slammed ExxonMobil for not producing more oil, as soaring gas prices deplete Americans' wallets and the US leader's popularity ahead of midterm elections.

Sanctions imposed on Moscow over the invasion of Ukraine are rolling back more than a decade of economic progress and three decades of integration with the West, according to an analysis Wednesday. But economists at the Institute for International Finance caution that the impact is a "moving target" since more...

Lebanese officials said Sunday that any Israeli activity in disputed waters would constitute a "hostile act" and an "attack" on Lebanon's natural resources.

The two countries signed deals to develop two gas pipelines and an oil field along their maritime border, Oman's energy minister Mohammed al-Rumhi said Saturday. The agreements were "related to the development of the two gas pipeline projects linking the two countries and the Hengam oil field," said the minister.

Wafi will also operate car services for Shell Global in  the kingdom.

Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring prices and hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they...

Germany hit the highest level of inflation in 50 years due to a rise in the cost of living, energy, and foodstuff prices. The data provided by the Federal Statistical Office of Germany indicate that levels of inflation reached 7.9 percent in May 2022. The inflation rate is calculated by...

European Union leaders have agreed to ban more than two-thirds of Russian oil imports, tightening economic screws on the country even as Moscow's forces press their offensive in Ukraine's eastern Donbas region. The compromise deal reached late Monday, meant to punish Russia for its invasion three months ago, cuts "a...

Digital technologies can reduce greenhouse gas emissions by up to 20% by 2050 in the three highest-emitting sectors: energy, mobility and materials, according to a study by the World Economic Forum and Accenture.

A delegation of 50 Iranian businessmen travelled to Oman last week, with Iran's minister for roads and urban development announcing plans for a joint shipping line and tourist flights.

Global environmental, social, and governance assets are expected to hit $41 trillion by the end of this year, and $50 trillion by 2025, Yasir Al-Rumayyan, governor of the Saudi sovereign fund said. The growth in assets is due to the fact that Public Investment Fund continues to enhance ESG integration...

Qatar, Amir said, plans to supply liquefied natural gas (LNG) to Germany by 2024.

Qatar on Wednesday said it plans to invest an additional $5 billion in Spain on the second day of a state visit by its emir, Sheikh Tamim bin Hamad Al-Thani. "The volume of investments agreed upon with the Spanish side amounts to $5 billion in various sectors," said Qatari Foreign...

Russia may cut gas supplies to Finland soon over the Nordic country's refusal to pay Gazprom in rubles, Finnish state-owned Gasum said on Tuesday. Gasum said it would take its dispute with Gazprom Export to arbitration, a move that risks angering neighboring Russia further as Helsinki prepares to submit its...

Qatar's emir began a state visit to Spain on Tuesday as Europe seeks to diversify its natural gas supply sources to reduce its energy dependence on Russia. Sheikh Tamim bin Hamad Al-Thani was welcomed by King Felipe VI at Madrid's royal palace at the start of his two-day visit, his...

New data from the Joint Organisations Data Initiative (JODI), a Riyadh-based international collaboration to improve the availability and reliability of data on petroleum and natural gas, shows that global oil demand surpassed pre-pandemic levels in March, while production of crude oil was stuck at 97 percent of the level before...

Iran is considering the possibility of exporting gas to Europe, an oil ministry official said Sunday against the backdrop of soaring energy prices due to Russia's war in Ukraine. "Iran is studying this subject but we have not reached a conclusion yet," deputy oil minister Majid Chegeni was quoted as...

Ukraine is a major supply route for Russian gas to Europe and the two sides have kept flows going even after the Kremlin sent troops into Ukraine on February 24

Iraq has agreed to pay $1.6 billion in debt to Iran by June 1 to secure a steady gas supply for power generation through the summer, its electricity minister said.

Russian Foreign Minister Sergei Lavrov visited gas-producing ally Algeria for talks Tuesday as a European drive to secure alternative supplies gathers pace. Lavrov, who arrived in Algiers late Monday, was due to hold talks with both Foreign Minister Ramtane Lamamra and President Abdelmadjid Tebboune, Algerian reports said. His visit is...

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing "shame" on Russia with his invasion of Ukraine. The statement from the Group of Seven -- France, Canada, Germany, Italy, Japan, Britain and...

The country’s National Center for Statistics and Information has announced that the country’s production of natural gas at the end of last March rose 0.8 percent.

Financial institutions are exposed to significant risks posed by depleted and contaminated water supplies, a report released by non-profit Carbon Disclosure Project (CDP) and Planet Tracker said. The analysis, the first-of-its-kind, shows how global companies in key industries are already losing billions as a result of the global water crisis....

The United States has been warning that Russia is preparing to formally annex regions in Ukraine’s east, while the European Union has told member states to brace for a complete breakdown in Russian gas supplies as it prepared a new package sanctions.

Morocco and the OPEC Fund for International Development (OFID) have signed the pact on the partial funding of the second phase of the Nigeria-Morocco Gas Pipeline (NMGP) project's Front End Engineering Study (FEED). "Through an exchange of correspondence with OFID Director-General Abdulhamid Al Khalifa and with Amina Benkhadra, Director-General of...

The oil giant acquired shareholding from Mubadala Investment Company.

More than a dozen Chinese coal power projects overseas were cancelled after a ban last year on funding such plants, but loopholes could allow 18 others to still go ahead, according to a study published Friday.

Italy is ethically obliged to stop buying Russian gas "soon" as the payments are funding the Ukraine war, the country's Ecological Transition Minister Roberto Cingolani said in an interview Thursday. The minister is currently on a two-day trip to Angola and Congo Republic seeking energy deals as Italy scrambles to...

The United States has asked Qatar to supply gas to Europe if Russian supplies were disrupted due to Moscow's military operation in Ukraine and the consequent Western sanctions.

Nakilat noted that earnings per share amounted to QR 0.07 in Q1 2022.

France and Algeria have been attempting to improve their ties after a diplomatic crisis.

As Europe aims to wean itself off Russian fossil fuel because of the Ukraine invasion, Israel hopes to help fill the gap with gas from its offshore reserves. EU states remain divided on the time scale, but European Commission President Ursula von der Leyen has said the bloc hopes to...

Prices of crude oil have skyrocketed across the world, thanks to the Russian invasion of Ukraine and the subsequent sanctions placed on Moscow.

The Saudi Arabian Oil Company has outlined a clear strategy to continue to invest in both upstream and downstream segments, says Rehan Akbar, Senior Vice-President at Moody’s.

Italian Prime Minister Mario Draghi arrived in gas powerhouse Algeria on Monday as Rome steps up efforts to reduce its heavy reliance on Russian energy imports. Italy buys the vast majority of its natural gas from overseas, with over 40 percent of those imports coming from Russia. But the war...

Nations and their companies have axed business ties with Russia over Ukraine.

The two will explore potential collaboration in the aluminum value chain.

The IEA members which include the United States, European countries, Australia and Japan, among others had already pledged last month to release 62.7 million barrels of oil.

More than 11 million people in Ukraine have been displaced since Russia invaded on February 24, aiming to seize the capital Kyiv. With that goal thwarted, it is instead trying to create a land link between occupied Crimea and Moscow-backed separatist statelets in Donbas.

The EU is considering to hit Russia with sanctions on oil or coal over the war in Ukraine, a top official said on Tuesday, though some countries remain worried of the potential economic fallout.

Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia's invasion of Ukraine, the oil ministry said.

The move is being seen as another sign of a growing rapprochement between the two countries following last year's restoration of ties.

Brazilian President Jair Bolsonaro decided on Monday to replace the president of state-owned oil giant Petrobras, Joaquim Silva e Luna, amid strong pressure due to recurrent increases in fuel prices.