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Iraqi Prime Minister wants Exxon out

Iraq’s Prime Minister Mustafa al-Kadhimi said on Monday he wants another American company to replace Exxon Mobil Corp when it exits Iraq. Exxon, which in 2019 had looked poised to move ahead with a $53 billion project to boost Iraq’s oil output, has been seeking to sell its 32.7% stake in one …

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IEA worried about emissions once COVID crisis abates

Rising consumption in the wake of the COVID-19 pandemic is set to drive greenhouse gas emissions to all-time highs, the International Energy Agency said on Tuesday. “We estimate that full and timely implementation of the economic recovery measures announced to date would result in CO2 emissions climbing to record levels …

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No progress yet in UAE-Saudi OPEC talks

UAE is still in discussions with Saudi Arabia and other OPEC+ members for better terms under the current agreement that will expire in April 2022, an informed source of the discussions told Arab News. Reuters said earlier that UAE has reached a compromise to assign the Gulf nation a quota of 3.65 …

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Iran opens up about its nuclear bomb ambitions

Iran claimed on Wednesday that it had the ability to enrich fissile uranium to 90 percent purity  — the level required to build the core of a nuclear weapon. “Iran’s Atomic Energy Organization can enrich uranium by 20 percent and 60 percent and if … our reactors need it, it …

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Iraq worried OPEC price war in the offing

The financial adviser to Iraq’s prime minister said that “in the absence of coordination and understandings between OPEC producers, the beginnings of a price war will be formed again,” the Iraqi News Agency (INA) quoted him as saying on Monday. Mazhar Mohammed Saleh added that “the increases in production within …

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Saudi, UAE disagree over OPEC policy

Oil held steady as tensions between Saudi Arabia and the UAE escalated over the weekend, leaving the market with few clues about how supply talks will proceed on Monday after discussions reached an impasse last week. The clash was unresolved just hours before Monday’s meeting was scheduled to start. The Saudis are standing …

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Iraq says BP and Lukoil want out of country

Iraqi Oil Minister Ihsan Abdul Jabbar said in a video posted on Saturday on the ministry’s Facebook page that BP was considering withdrawing from Iraq, and that Russia’s Lukoil had sent a formal notification saying it wanted to sell its stake in the West Qurna-2 field to Chinese companies. Abdul …

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IAEA officials to make routine tour of Tehran

The deputy head of the United Nations nuclear watchdog IAEA is to visit Iran for “routine” matters and no talks are planned, Iran’s envoy said on Saturday according to state media, as the agency awaits a reply from Tehran on an expired monitoring deal. In late June, the International Atomic …

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Iran’s only working nuclear power plant back online

Iran’s sole nuclear power plant is back online following an emergency shutdown two weeks ago, state TV reported Saturday. The report quoted Mostafa Rajabi Mashahdi, spokesperson for the country’s energy ministry, as saying the Bushehr plant “returned to production energy” after the completion of needed maintenance. Mashahdi did not elaborate …

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Hezbollah says Lebanon ready for Iran fuel imports

Lebanon’s Hezbollah chief Sayyed Hassan Nasrallah on Friday repeated pledges to import Iranian fuel should shortages across the country persist, saying that all logistical steps for that possibility were complete. Nasrallah, who heads the Iranian-backed armed Lebanese group, said earlier in June Iran could supply fuel to Lebanon in local …

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Iran power plant goes into shutdown mode

Iran’s Bushehr nuclear power plant has been temporarily shutdown for technical overhaul, Iranian state TV said on Sunday. “It has been temporarily shutdown since yesterday for technical overhaul which will continue for a few days,” an official told state TV. Source: Euro News

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Nasrallah wants Iranian oil to solve fuel crisis

In a speech seen as an act of defiance against the Lebanese state and the US, Hezbollah leader Hassan Nasrallah on Wednesday insisted that Lebanon should be “negotiating with Iran to buy gasoline and diesel with the Lebanese currency if Lebanon’s shortages persist.” Seemingly unconcerned about the possibility that this …

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Blinken foresees multiple sanctions on Iran

Secretary of State Antony Blinken said Tuesday that “hundreds” of US sanctions will remain on Iran even if the United States rejoins a nuclear accord. President Joe Biden’s administration has been engaged in indirect talks with Iran about reversing former president Donald Trump’s exit from the 2015 nuclear accord, formally …

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$200 million loan to fight power shortages in Lebanon

Michel Aoun

Lebanon’s President Michel Aoun approved an exceptional loan of up to 300 billion Lebanese pounds ($200 million) on Monday for the state electricity company to import fuel for generation before supplies run out, an official statement said. Lebanon is mired in a financial crisis, caused by a mountain of debt built …

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Novak insists Russia sticking to OPEC plan

OPEC, Russia and their allies will stick to plans for a phased easing of oil production restrictions from May to July amid upbeat forecasts for a recovery in global demand and despite surging coronavirus cases in India, Brazil and Japan. The group known as OPEC+ ditched plans to hold a …

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IAEA gravely concerned about Iran nuclear intentions

The head of the United Nations’ nuclear watchdog agency called Iran’s uranium enrichment program “very concerning” in an interview with the Financial Times published on Wednesday. Iran was enriching uranium at purity levels that “only countries making bombs are reaching,” Rafael Grossi, director general of the International Atomic Energy Agency, …

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In bizarre merging, bitcoin powered by flaring tech

As the value of bitcoin soars and concerns rise about the energy-intensive process needed to obtain it, cryptocurrency entrepreneurs in the United States believe they have found a solution in flared natural gas. Profitably creating, or mining, bitcoin and other cryptocurrencies requires masses of computers dedicated to solving deliberately complicated …

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