The United States Seeks Access to Iran’s Oil Resources, Tehran Said
The United States seeks to gain access to Iran’s oil resources, said Esmail Baghaei, spokesperson for the Iranian Ministry of Foreign Affairs. “As for what the goal of the United States is, there is no doubt — no one has ever doubted that the goal of the United States is …
Saudi Aramco to Reduce Oil Production at Two Fields, Reuters Reports
The Saudi state oil and gas company Saudi Aramco is reducing production at two oil fields amid the effective blockage of the Strait of Hormuz, Reuters reports, citing sources. “The Saudi oil giant Aramco has begun cutting production at two of its oil fields… after the crucial Strait of Hormuz …
Vladimir Putin Allowed the Suspension of Oil Production Tied to the Strait of Hormuz
Vladimir Putin stated that a full rerouting of Middle Eastern oil supplies without the Strait of Hormuz will not be possible. The Russian president noted that the strait is “effectively closed,” and oil production in the region risks coming to a complete halt. A full redirection of Middle Eastern oil …
Sakhalin-2 Prepares to Bring Previously Untapped Reserves of the Lunskoye Field into Development
Sakhalin Energy (a subsidiary of Gazprom, operator of the Sakhalin-2 project) is beginning the practical implementation of measures to develop previously untapped reserves of the resource base of the Sakhalin-2 project. The main source of feed gas for the Sakhalin-2 LNG plant is the Lunskoye oil, gas and condensate field …
Kuwait Reduced Oil Production and Refining After Iranian Strikes
Kuwait, one of the world’s leading oil suppliers, has announced a reduction in crude oil production and refining. The country’s state corporation stated that the move was taken as a precautionary measure following recent Iranian attacks. Kuwait is cutting oil production and refining as a preventive step due to threats …
Region with the Largest Oil Reserves in Russia Identified
The leader in oil reserves in Russia is the Khanty-Mansi Autonomous Okrug – Yugra, which holds more than 11 billion tonnes of “black gold,” according to RIA Novosti, based on open data. In total, about 31 billion tonnes of explored and preliminarily estimated oil reserves are recorded in the country. …
Dragon and Beyond: Shell Agreed with Venezuela on Cooperation in Hydrocarbon Exploration and Production
Shell has signed a number of agreements with Venezuela on cooperation in hydrocarbon exploration and production. The documents were signed on March 5, 2026, in Caracas at the headquarters of Petroleos de Venezuela S.A. (PDVSA). Bergam’s Visit The signing took place in the presence of US Secretary of the Interior …
BP Stated That Sanctions Against LUKOIL Do Not Affect Oil Production at Shah Deniz
Production at the Shah Deniz field in the Caspian offshore continues at full capacity despite Western sanctions against LUKOIL, which holds nearly 20% in the project, said BP Regional President for Azerbaijan, Georgia and Turkey Giovanni Cristofoli at a press conference in Baku. “Management of the company’s share and revenues …
Kuwait Plans to Cut Oil Production Due to Storage Capacity Limits
Kuwait has begun reducing oil production at a number of fields as fuel storage facilities in the country fill up, The Wall Street Journal reports, citing informed sources. According to the sources, the country, which is the fifth-largest oil producer in OPEC, is considering reducing oil production and refining to …
Kazakhstan’s Ministry of Energy and Shell Sign Exploration Contract
The Ministry of Energy of the Republic of Kazakhstan has signed a contract with Shell Kazakhstan for geological exploration works at the Zhanaturmys subsoil area in the Aktobe region.This was reported by the ministry’s press service. The contract предусматривает the implementation of a комплекс of preparatory and research activities, including …