2025-09-06 14:20
BAGHDAD, Sept 6 (Reuters) - Iraq's state oil company SOMO is in advanced talks with ExxonMobil (XOM.N) , opens new tab over a possible agreement to secure storage capacity in Singapore using tanks owned by the U.S. oil major, the Iraqi state news agency INA said on Saturday. Negotiations also include possible refining capacity deals and profit-sharing arrangements in Asia, where demand for crude and products continues to grow, INA added citing SOMO's Director General Ali Nazar as saying. Sign up here. In the past two years, Iraq has signed agreements with oil majors that had previously retreated from the country, including Chevron (CVX.N) , opens new tab, France's TotalEnergies (TTEF.PA) , opens new tab and UK oil major (BP.L) , opens new tab. https://www.reuters.com/business/energy/iraq-talks-with-exxonmobil-asian-refining-capacities-2025-09-06/
2025-09-06 12:21
Eight OPEC+ states to consider output hike on Sunday Iraq's OPEC envoy says attention focussed on market balance Sudani says Iraq looking to facilitate entry of oil majors BAGHDAD, Sept 6 (Reuters) - Iraq hopes fellow producers will reconsider its oil export quota to better reflect its production capacity, Prime Minister Mohammed Shia al-Sudani said on Saturday, a day ahead of an OPEC+ meeting in a rare public comment by a senior Iraqi official. Iraq, the group's largest overproducer, is under pressure from the Organization of the Petroleum Exporting Countries to cut output to compensate for having produced more than its agreed volume. Sign up here. It is among countries that submitted plans in April to make further oil output cuts to compensate for pumping above agreed quotas. Iraq's oil exports averaged 3.38 million barrels per day in August, according to the oil ministry. September average oil exports are expected to be between 3.4 million bpd and 3.45 million, the chief of the state oil company SOMO said on Saturday. OPEC counts oil flows from Kurdistan as part of Iraq's quota. Sudani previously appealed publicly for a review of Iraq's production quota in late 2022. OPEC+, which includes OPEC members plus Russia and other allies, has reversed its strategy of output cuts from April and has already raised quotas by some 2.5 million barrels per day, about 2.4% of world demand. The move is intended to boost market share and follows pressure from U.S. President Donald Trump to lower oil prices. Eight countries from OPEC+ are set to meet online on Sunday to consider a further output hike. Another output boost would mean OPEC+, which pumps about half of the world's oil, would be starting to unwind a second layer of cuts of about 1.65 million barrels per day, or 1.6% of world demand, more than a year ahead of schedule. Responding to a question about Sunday's meeting, Iraq's OPEC representative Ali Nazar said attention was focused on balancing the market, whether through increases, maintaining current production, or cuts. Separately, Sudani also said there would be arrangements to facilitate the entry of major oil companies to Iraq. In the past two years, Iraq has signed agreements with oil majors that had previously retreated from the country, including Chevron (CVX.N) , opens new tab, France's TotalEnergies (TTEF.PA) , opens new tab and UK oil major BP (BP.L) , opens new tab. https://www.reuters.com/business/energy/iraqs-premier-says-he-hopes-producers-will-reconsider-oil-export-quota-2025-09-06/
2025-09-06 10:58
CERNOBBIO, Italy, Sept 6 (Reuters) - Edison (EDNn.MI) , opens new tab is ready to list back on the Milan bourse if that is the decision of its parent company, French utility EDF, the chief executive of the Italian energy group said on Saturday. Under the leadership of new CEO Bernard Fontana, state-owned EDF has started reviewing its portfolio of assets as it seeks to raise funds to meet government demands to spur investments in new nuclear reactors. Sign up here. "At EDF, they have a new management and are currently reviewing their options ... if this review includes also Italy, we are ready," Edison CEO Nicola Monti told reporters on the sidelines of the annual TEHA Forum. The group has already in place the corporate structure and procedures necessary for its stock to trade publicly, as EDF kept the savings share listed in Milan when it acquired full control of Edison and took it private in 2012, Monti said. Any listing of the ordinary shares would also take place in Milan, the CEO said, adding he knew for a fact EDF was weighing such an option though no advisers had yet been hired. Edison would have to hire its own adviser if EDF decides to press ahead with the project, Monti said. Edison reported revenues of 15.4 billion euros ($18 billion) and a core profit of 1.7 billion euros last year. ($1 = 0.8542 euros) https://www.reuters.com/business/energy/italys-edison-ready-list-if-edf-presses-ahead-with-plan-ceo-says-2025-09-06/
2025-09-06 10:36
BAGHDAD, Sept 6 (Reuters) - Iraq hopes fellow producers will reconsider its oil export quota to better reflect its production capacity, Iraqi Prime Minister Mohammed Shia al-Sudani said on Saturday. He also said there would be arrangements to facilitate the entry of major oil companies to the country. Sign up here. https://www.reuters.com/business/energy/iraq-hopes-fellow-producers-will-reconsider-its-oil-export-quota-prime-minister-2025-09-06/
2025-09-06 07:29
BEIJING/HONG KONG, Sept 6 (Reuters) - Another tanker carrying liquefied natural gas from Russia’s sanctioned Arctic LNG 2 project has docked in a Chinese port, ship-tracking data showed, days after Russian President Vladimir Putin met China's leader Xi Jinping in Beijing. The LSEG tracking data indicated the Russian Voskhod LNG tanker was anchored at an LNG terminal in the port of Tieshan in China's southwestern province of Guangxi. Sign up here. The Russian flagged tanker, with a cargo of 150,000 cubic metres of LNG, was loaded up at the Arctic LNG 2 facility in Gydan in northern Siberia on July 19, LSEG data showed. The cargo is the second from the sanctioned project to dock in China after sanctioned tanker Arctic Mulan arrived at the Beihai LNG terminal in late August. Arctic Mulan's cargo was the first from Arctic LNG to reach an end-user since it started up last year. Reuters was not immediately able to ascertain if the LNG was discharged at Tieshan port, and telephone calls to the port went unanswered. The Arctic project began production in December 2023, but is behind schedule in supplying cargoes of the gas, because of shortages of ice-class gas carriers and Western sanctions over Russia's conflict with Ukraine. The cargo arrives days after Putin's high-profile trip to China for the Shanghai Cooperation Organisation summit and a military parade to celebrate the end of World War Two. Arctic LNG 2, 60%-owned by Russia's Novatek (NVTK.MM) , opens new tab, was set to become one of the country's largest LNG plants, with target output of 19.8 million metric tons per year, but sanctions have clouded its prospects. Last year, eight cargoes were loaded from Arctic LNG 2 onto several sanctioned LNG vessels, Kpler data shows, four of them discharged into the Koryak FSU. This year, six known cargoes have been loaded from the project, with some sanctioned tankers travelling east along the Northern Sea Route. Two tankers are now berthed on the Kamchatka peninsula in the Russian far east, with a third in the South China Sea between Taiwan and Hainan island, according to LSEG data. https://www.reuters.com/world/china/second-known-tanker-carrying-sanctioned-russian-arctic-lng-berths-china-2025-09-06/
2025-09-06 06:45
HONG KONG, Sept 6 (Reuters) - Another tanker carrying liquefied natural gas from Russia’s sanctioned Arctic LNG 2 project has docked in a Chinese port, according to ship-tracking data, days after Russian President Vladimir Putin met China's leader Xi Jinping in Beijing. LSEG ship-tracking data indicated the Russian Voskhod LNG tanker was "anchored" at an LNG terminal in Tieshan port in the southern Chinese province of Guangxi. Sign up here. The cargo is the second from the sanctioned project to dock in China after sanctioned tanker Arctic Mulan arrived at China’s Beihai LNG terminal in late August. Arctic Mulan's shipment was the first time a cargo from Arctic LNG had reached an end-user since it started up last year. The Arctic project in northern Siberia began production in December 2023, but is behind schedule in supplying cargoes of the gas because of shortages of ice-class gas carriers and Western sanctions over Russia's conflict with Ukraine. The cargo arrives days after Putin's trip to China to attend the Shanghai Cooperation Organisation summit as well as a military parade to celebrate the end of World War Two. https://www.reuters.com/world/china/tanker-carrying-sanctioned-russian-lng-berths-china-2025-09-06/
