Oil & Gas Archives

In its first meeting of 2026, OPEC+ keeps oil output steady amid geopolitical turmoil

IFM CorrespondentJanuary 8, 2026January 8, 2026

by IFM CorrespondentJanuary 8, 2026January 8, 2026

The eight OPEC+ members, Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman, raised oil output targets by around 2.9 million barrels per day in 2025...

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Israel approves USD 35 billion natural gas deal with Egypt

IFM CorrespondentDecember 22, 2025December 22, 2025

by IFM CorrespondentDecember 22, 2025December 22, 2025

In 2024, Egypt imported a record 981 million cubic feet per day of natural gas from Israel, registering a 18.2% year-over-year increase...

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As Lukoil looks to quit Iraq, country faces new energy conundrum

IFM CorrespondentDecember 1, 2025

by IFM CorrespondentDecember 1, 2025

Lukoil holds a 75% stake in the West Qurna 2 oilfield, while the rest is controlled by the state-owned South Oil Company...

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Will stay dominant in oil, asserts Saudi Aramco CEO Amin Nasser

IFM CorrespondentOctober 21, 2025

by IFM CorrespondentOctober 21, 2025

Aramco still views chemicals as a strategic growth area, even as rivals such as Shell and Exxon Mobil scale back operations...

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IF Insights: Turkey’s clean energy surge undermines gas market hopes

IFM CorrespondentSeptember 18, 2025

by IFM CorrespondentSeptember 18, 2025

Turkey's reliance on gas and other fossil fuels for power generation seems to be decreasing due to the growing supply of clean energy and the expansion of battery storage capacity...

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European Union regulators set to pause subsidy probe into ADNOC’s Covestro deal

IFM CorrespondentSeptember 9, 2025

by IFM CorrespondentSeptember 9, 2025

ADNOC's acquisition of Covestro in October 2024 was the largest to date and marked one of the biggest foreign takeovers of a European Union company by a Gulf state...

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Santos’ LNG deal with QatarEnergy subsidiary: All you need to know

IFM CorrespondentJuly 15, 2025

by IFM CorrespondentJuly 15, 2025

Under the deal, Santos said it would supply 0.5 million tonnes of LNG per annum over a period of two years from 2026...

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Sierra Leone aims to be West Africa’s newest oil & gas exploration frontier

IFM CorrespondentJuly 3, 2025July 4, 2025

by IFM CorrespondentJuly 3, 2025July 4, 2025

Foday Mansaray stated that Sierra Leone has an estimated 30 billion barrels of oil equivalent recoverable offshore...

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Iraq’s USD 100 billion gamble: Can dreams survive oil price decline & fiscal strain?

IFM CorrespondentMay 29, 2025

by IFM CorrespondentMay 29, 2025

With about four million daily crude barrel production, Iraq depends mostly on unpredictable oil sales for around 90% of its national income...

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Petroleum Trading Lao revolutionises fuel access

IFM CorrespondentMarch 25, 2025May 22, 2025

by IFM CorrespondentMarch 25, 2025May 22, 2025

Petroleum Trading Lao currently deals with five categories of products: diesel oil, Benzene Regular 91, Benzene Super 95, bunker oil, lubricant oil and petrochemical products...