Faltering oil prices in recent days after a weeks-long surge to around $70/b have many analysts forecasting that the OPEC+ group of producers may largely roll over their quotas for at least another month.

"Based on this document, China will be a steady importer of Iran's oil, and Iran should remove China's concerns for return of its investment,"

During the feasibility study, ENEOS and Saudi Aramco will jointly look at Aramco's hydrogen production derived from feedstocks such as natural gas and LPG as well as capture and storage of its associated CO2 from production, ENEOS said.

Qatar Petroleum has entered into 10-year LNG Sale and Purchase Agreement (SPA) with Sinopec to supply 2 Mt/year of LNG to China.

Aramco achieved a net income of $49 billion in 2020, one of the highest earnings of any public company globally.

Aramco lowered its guidance for capital expenditure in 2021 to around $35 billion from a range of $40 billion to $45 billion previously

Saudi Arabia exported 6.582 million b/d in January, according to JODI data released March 18, an increase of 87,000 b/d from December. It was the seventh straight month that shipments have risen since a historic low of 4.98 million b/d in June when stringent OPEC+ production cuts were in effect.

Turkey aims to produce 50% of its electricity from renewables by 2023 (up from 44% in 2019). Solar accounts for around 7% of Turkey’s installed capacity, with 6 GW at the end of 2019.

The UAE was India's third-largest supplier of crude in 2020, behind Iraq and Saudi Arabia, with volumes of 21.35 million mt and an 11% market share,

With non-OPEC supply forecast to bounce back by 950,000 b/d in 2021 to 63.8 million b/d, OPEC lowered the estimated demand for its crude by 240,000 b/d to 27.26 million b/d.

The agreement paves the way for the establishment of a Joint Industry Project (JIP) that targets the development of new LNG carrier designs utilizing the LNT A-BOX® LNG cargo containment system.

The global demand for natural gas is expected to increase by 1.6%, y-o-y, for the next five years, with the consumption reaching almost 4,200 billion cubic meters (bcm) by 2025, up from 3,800 bcm in 2018.

Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan joined the ceremony via videoconference. Energy and Natural Resources Minister Fatih Dönmez, ROSATOM Director General Alexey Likhachev and Akkuyu Nuclear JSC CEO Anastasia Zoteeva were present at the Akkuyu NPP site.

In April 2020, EuroAfrica Interconnector initiated a €650m tender for the EPC of a 1 GW subsea HVDC line between Egypt, Cyprus, and Greece (Crete and Attica).

Overall conformity with the original decision was 103 per cent, reinforcing the trend of aggregate high conformity by participating countries.