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IRAQ TO EXPORT FUEL OIL AT A RECORD-BREAKING RATE.
Iraq's fuel oil exports reached a record high in October, surpassing 2.15 million metric tons, with projections indicating annual exports could exceed 18 million metric tons in 2024. This surge in fuel oil exports is helping to lower refinery costs, increase global supply, and boost Iraq's oil sector revenues, reinforcing its role as a major global energy supplier.
- 1 year, 11 months
OPEC SECRETARY GENERAL TELLS COP29 OIL IS A GIFT FROM GOD.
At the COP29 summit in Baku, OPEC Secretary General Haitham Al Ghais described crude oil and natural gas as "a gift from God" and argued that climate talks should focus on reducing emissions rather than selecting energy sources. He emphasized that the priority should be mitigating environmental impact while ensuring energy security, particularly for developing nations.
- 1 year, 11 months
GREECE TARGETS RUSSIAN OIL TANKERS FOR AN ADDITIONAL 4 MONTHS.
Greece has extended naval exercises until March 2025 to prevent Russian oil tankers from transferring cargo off its coast, as part of efforts to limit funding for Russia's war in Ukraine. Despite these efforts, Russian tankers continue to swap oil at sea, prompting the European Parliament to call for more targeted sanctions against Russia’s shadow fleet.
- 1 year, 11 months
TOTALENERGIES, OIL INDIA COLLABORATE ON METHANE DETECTION: COP28.
TotalEnergies and Oil India have partnered to use AUSEA technology for methane emissions detection at OIL's sites, supporting the Oil and Gas Decarbonization Charter’s goal of near-zero methane emissions by 2030. This collaboration highlights OIL's commitment to reducing emissions and advancing global sustainability efforts.
- 1 year, 11 months
EGYPT SEES INCREASED OIL, GAS PRODUCTION, MINISTER ANNOUNCES.
Egypt is seeing a surge in oil and gas production, driven by incentive packages that attract both local and international investment. Minister Karim Badawi outlined a comprehensive strategy focusing on boosting exploration, refining, and mineral wealth, while integrating renewable energy and improving environmental sustainability.
- 1 year, 11 months
OIL, GAS IN PENINSULAR MALAYSIA DEPLETING FAST – RAFIZI.
Peninsular Malaysia's oil and gas reserves have halved in the past decade, causing concern about the country's energy security and its growing dependence on imports. Economy Minister Rafizi Ramli highlighted the challenges of resource allocation, the need for economic adjustments, and the ongoing discussions over revising revenue-sharing agreements with East Malaysia.
- 1 year, 11 months
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