Sources say that OPEC+ is likely to go ahead with its planned increase in oil production for May.
Three sources said that OPEC+ would likely stick with its plan to increase oil production for a second month in a row in May. This is despite the steady price of oil and plans to make some members reduce their pumping to compensate past overproduction. OPEC+, a group consisting of OPEC producers and allies led by Russia and pumping over 40% of world oil. The group plans to increase its output by 135,000 barges per day in the month of May.
OPEC data show that Kazakhstan was the biggest laggard of OPEC+ in February.
OPEC data on Wednesday showed that Kazakhstan contributed over half of the overall OPEC+ rise in oil production during February. However, it lags behind its pledges for reducing production. Kazakhstan consistently exceeded its production quota of 1.468 millions bpd, as per the agreement struck between the Organization of the Petroleum Exporting Countries (OPEC+) and their allies, including Russia.
Kazakhstan commits to reducing oil production after April. Russia claims OPEC+ could reverse output.
Alexander Novak, the deputy prime minister of Russia, said that the OPEC+ had agreed to increase oil production starting in April. However the group could change its mind if market imbalances occur. Officials from Kazakhstan, who have often exceeded the OPEC+ production quotas in recent years, spoke at a briefing online almost simultaneously with Novak. They pledged to reduce output in March April and May.
Berlin is urged to act quickly by corporate bosses on the weak economy
German business leaders called for Berlin to quickly form a new Government on Monday, warning that Europe's largest economy cannot afford to waste time while companies are suffering from high costs and red tape, as well as increased competition from abroad. The CDU/CSU won the Sunday national elections, clearing the way for a new coalition government with the Social Democrats. This…
Local news reports say that Equinor is planning to sell its assets in Argentina.
Mas Energia, a Mas Energia-published online magazine, reported that the Norwegian oil and gas company Equinor was looking to sell their onshore assets located in Argentina's Vaca Muerta Region, citing anonymous sources. Equinor has appointed Bank of America as the agent to sell its 30% stake in Bandurria Sur and 50% in Bajo del Toro Norte. However, no decision on the divestment has been taken yet, according to the report.
Moldova names new Energy Minister
Dorin Dzungietu, a gas industry expert from Moldova, was appointed as the country's new Energy Minister by President Maia Sandu on Wednesday morning. He was sworn into office at the Presidential Office. Junghietu replaced Viktor Parlicov who was fired in December after failing to prepare for a possible stoppage of gas supplies for Moldova's separatist Transdniestria due to Ukraine refusing to extend their transit agreement with Russia.
After Halliburton layoffs, the Argentine oil union has threatened to strike
The union of oil and gas workers in Argentina's oil rich Chubut province, which has hundreds of employees laid off by Halliburton and a local office closing, threatened to strike after Halliburton closed its local office and dismissed hundreds. Carlos Gomez said that the Chubut Private Oil and Gas Union's deputy secretary, Carlos Gomez spoke on the broadcast radio channel of the union…
Novak: OPEC+ does not consider a delay in April's oil supply increase
RIA reported that Russian Deputy Premier Alexander Novak stated on Monday that OPEC+ producers do not plan to delay a series monthly increases in oil supplies scheduled to start in April. Bloomberg News reported Monday, citing delegates that OPEC+ (which groups the Organization of the Petroleum Exporting Countries, Russia, and other allies) was examining if it should postpone the increase in supply, despite the calls of U.S. president Donald Trump to reduce oil prices.
Gas funded by the EU brings light back to a separatist region in Moldova
On Monday, authorities in Moldova's separatist Transdniestria began heating apartments during winter conditions after a month-long power cut. The European Union funded the resumption of natural gas flows. Transdniestria - which separated from Moldova after the Soviet Union ended - relied on Russian Gas passing through Ukraine. But Kyiv refused a transit agreement beyond the new year, claiming it funded Moscow's almost three-year old invasion.
Novak claims that OPEC+ discussed Trump's call to increase oil output
Alexander Novak, Deputy Prime Minister of Russia, said that the Joint Ministerial Monitoring Committee of the OPEC+ Group of Leading Oil Producers discussed U.S. president Donald Trump's request to increase oil production. Novak said in comments to Russia’s Rossiya-24 television station that the committee had agreed that OPEC+ would begin gradually increasing its oil production on April 1 in accordance with previous plans.
OPEC+ rolls over oil policy, ditches US government data
OPEC+ decided to continue its policy of increasing oil production gradually from April and removed U.S. Energy Information Administration as a source to monitor their production and adherence with supply pacts. OPEC+ & Donald Trump clashed frequently during Donald Trump's first administration from 2016 to 2020 when the U.S. president demanded that it increase production in order to compensate for the fall in Iranian supply due U.S. sanction.
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State.
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State.
Japan's JERA plans on expanding US LNG purchases in order to diversify the energy supply
JERA, Japan's largest LNG buyer, is planning to increase its purchases from the United States in order to diversify their supply and meet the demand growth spurred on by data centres and AI. U.S. president Donald Trump promised to unleash the U.S. industry of energy to boost production and threatened the EU if it did not purchase more gas. This could mean that JERA would have to compete against other buyers to get more U.S. natural gas.
Ukraine looks for investment in Davos to recover from the recession as Trump calls for peace
While U.S. president Donald Trump called for an end to the three-year war and Ukraine's President discussed peacekeeping forces, Ukrainian officials courted private investors to help rebuild their country this week. Oleksiy Sbolev is the first deputy minister of economy. He described a $500-billion reconstruction project that would bring both financial and strategic dividends to Western Investors…
Argentina negotiates gas imports with Bolivia and Chile after heatwave increases demand
Bolivia and Chile have begun talks to resume gas exports to Argentina, amid a spike in demand sparked by a heatwave this summer. This highlights the challenges facing the government of Buenos Aires in its quest to become self-sufficient in energy. Armin Dorgathen Taia, the head of Bolivia's state energy company YPFB told me by phone on Friday that "we are in a negotiations with Argentina to create a contract spot". These talks were previously unknown.
Trump's nominee for Interior Department says that boosting energy is key to US security
Doug Burgum, Donald Trump's nominee to lead the Interior Department said on Thursday that he would vigorously pursue President-elect Trump's goals to maximize energy production from U.S. Public Lands and Waters, calling it a key to national security. Burgum's remarks to lawmakers at his nomination hearing indicate a sharp change in policy. For years, President Joe Biden tried to limit…
The separatist enclave of Moldova hopes that Russia will soon resume gas supplies
Vadim Krsnoselsky, the leader of Transdniestria, a breakaway region in Moldova, said that it expects to be able to get Russian gas soon, to meet its own needs. This comes after two weeks of crippling power outages. Prime Minister of Moldova's pro European central government, said that Russia is determined to bring a Moscow friendly government into power in the country. He said that…
The separatist enclave of Moldova hopes that Russia will soon resume gas supplies
Vadim Krsnoselsky, the leader of Transdniestria, a breakaway region in Moldova, said that it expects to be able to get Russian gas soon, to meet its own needs. This comes after two weeks of crippling power outages. Since January 1, when Russia's Gazprom stopped gas exports into the region, Chisinau has refused to recognize the debt Moldova owes Gazprom of $709,000,000 as valid. Moscow has blamed the suspension of gas supply on pro-Western Moldova, and Ukraine.
Leader of Moldova’s separatist region visits Moscow to discuss gas crisis
Transdniestria, the news agency of Transdniestria, reported that on Tuesday the leader of Moldova’s Transdniestria region has traveled to Moscow to hold talks in order to resolve a crisis resulting from the suspension of Russian Gas deliveries. Transdniestria is experiencing widespread power outages since January 1, when Russia's Gazprom stopped gas exports. The company cited an unpaid Moldovan bill of $709 millions that Chisinau doesn't recognize as valid.
