The United Arab Emirates has pushed back against a plan by the OPEC oil cartel and allied producing countries to extend the global pact to cut oil production beyond April 2022, a rare statement revealing the country’s frustration with the group. The Emirati Ministry of Energy called the proposal to[…]
Saudi Arabia’s Crown Prince Mohammed bin Salman announced plans on Tuesday to launch a second national airline as part of a broader strategy to turn the kingdom into a global logistics hub as it seeks to diversify from oil. The creation of another flag carrier would catapult Saudi Arabia into[…]
Libya’s National Oil Corp (NOC) has accused the United Arab Emirates of instructing eastern forces in Libya’s civil war to reimpose a blockade of oil exports after the departure of the first tanker in six months. The UAE, along with Russia and Egypt, supports the eastern-based self-styled Libyan National Army[…]
South Africa published a long-anticipated draft of oil and gas legislation that will give the state a 20% carried interest in exploration and production rights, with the aim of increasing development of the industry. The policy also calls for at least a 10% participating interest by black partners and the[…]
A new oilfield discovered in southwestern Iran is the second largest found in the country, Iran’s oil minister Bijan Zanganeh said on Monday, according to SHANA, the ministry’s news site. The Namavaran oilfield has an estimated 53 billion barrels of reserves, Zanganeh said. Exploration started at the site in 2016, with[…]
The long-awaited US pullout from Syria appears to have been postponed, with Pentagon sources claiming some 800 troops will stay behind to “guard” Syria’s oil, in a mission even pro-war US politicians are calling “reckless.” US troops will occupy a large, oil-rich area stretching 150km from Deir ez-Zor to al-Hasakah,[…]
The US was “arrogant” to send its troops to guard oilfields in Syria, Russian Foreign Minister Sergey Lavrov has said, adding that it remains unclear from whom the installations need to be protected. The actions of the Americans in Syria violate international law, as their presence in the country is “illegal,” Lavrov[…]
American mechanized forces have begun deploying at Syrian oil fields, ostensibly to stop the remnants of Islamic State from seizing them, and will respond with “overwhelming force” to protect them. Following the withdrawal of US forces from northern Syria earlier this month, and the killing of Islamic State (IS, formerly[…]
The United States will station additional forces in eastern Syria to protect oilfields in another policy shift that one former senior American official called a “shocking ignorance” of history and geography. The planned reinforcement will take place in coordination with the Kurdish-led Syrian Democratic Forces (SDF) to prevent the oilfields from falling into the[…]
Russia agreed to look into the September aerial attack on the Saudi Aramco oil facilities and will condemn whoever was behind it, but will not take sides in the feud between Riyadh and Tehran, President Vladimir Putin says. Russia treasures its cordial ties with both Iran and Saudi Arabia, and[…]
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