OPEC+ Efforts To Boost Oil Output ‘Not Encouraging’, UAE Minister Says

PARIS, France – Efforts by OPEC+ oil producers to boost output are ‘non encouraging’, UAE energy minister Suhail al – Mazrouei said on Wednesday, nothing the group was currently 2.6 million barrels per day short of its target. ‘According to last month’s report, we have seen the conformity (to output cuts) of the OPEC+ group … More OPEC+ Efforts To Boost Oil Output ‘Not Encouraging’, UAE Minister Says

Aramco CEO Warns Of Global Oil Crunch Due To Lack Of Investment

DAVOS – The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. Amin Nasser, head of the world’s largest oil producer, said on … More Aramco CEO Warns Of Global Oil Crunch Due To Lack Of Investment

France Supports Banning Imports Of Russian Oil, Says French Economy Minister

PARIS, France – France supports extending sanctions to ban imports of Russian oil, French Economy Minister Bruno Le Maire, said Tuesday. ‘When you see what is going on in the Donbas, it is more necessary than ever to stop importing Russian oil’, Le Maire told radio station Europe 1. Le Maire went on to say … More France Supports Banning Imports Of Russian Oil, Says French Economy Minister

President Durque: Columbia Ready To Step Up Energy Supplies To The West To Replace Russian Imports

PARIS, France – Columbia is ready to play a central role in helping supply Western countries with energy resources after the gaps caused by sanctions on Russia, Colombian President Ivan Dugue told CNN. During an interview with CNN’s Richard Quest, Duque said: [‘North American and European countries] know for sure that they can no longer … More President Durque: Columbia Ready To Step Up Energy Supplies To The West To Replace Russian Imports

Saudi Arabia Leads OPEC Decision To Drop IEA Data As US Ties Fray

PARIS, France – A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West’s energy watchdog reflected concern about U.S. influence on the figures close to the matter said, adding to strain on ties between Riyadh and Washington. The Organization of the Petroleum Exporting Countries and allies including Russia, a … More Saudi Arabia Leads OPEC Decision To Drop IEA Data As US Ties Fray

G7 Rejects Putin’s Demand For Rouble Payment For Russian Gas – Germany

PARIS, France – Energy ministers from the Group of Seven industrialized nations reject demands by President Vladimir Putin that ‘unfriendly’ countries pay for Russian gas with roubles, Germany’s Robert Habeck said after talks with his counterparts on Monday. ‘All G7 ministers have agreed that this is a unilateral and clear breach of existing contracts’, Habeck, … More G7 Rejects Putin’s Demand For Rouble Payment For Russian Gas – Germany

Saudi Aramco Storage Facility Targeted By Houthi Attack, Causing Fire

RIYADH, Saudi Arabia – Yemen’s Houthis said they launched attacks on Saudi energy facilities on Friday and the Saudi – led coalition said oil giant Aramco’s petroleum products distribution station in Jeddah was hit, causing a fire in two storage tanks but no causalities. A huge plume of black smoke could be seen rising over … More Saudi Aramco Storage Facility Targeted By Houthi Attack, Causing Fire

Putin Says Russia Will Switch Gas Sales To Roubles For ‘Unfriendly’ Countries

PARIS, France – Russia plans to switch its gas sales to ‘unfriendly’ countries to roubles, President Vladimir Putin said on Wednesday, responding to a freeze on Russia’s assets by foreign nations over events in Ukraine that he said had destroyed Moscow’s trust. European countries’ dependence on Russia gas and other exports has been thrown into … More Putin Says Russia Will Switch Gas Sales To Roubles For ‘Unfriendly’ Countries

UK PM Johnson Seeks Additional Oil Flows IN UAE, Saudi

LONDON – British Prime Minister Boris Johnson visits the United Arab Emirates and Saudi Arabia on Wednesday as part of efforts to secure additional oil flows and increase pressure on Russian President Vladimir Putin over Ukraine. With Britain, like much of the West, facing spiralling energy prices, Johnson is keen to encourage producers to increase … More UK PM Johnson Seeks Additional Oil Flows IN UAE, Saudi