India used to buy 518,000 b/d of Iranian oil in 2018, which slowed to 268,000 b/d between January-May 2019 during the sanctions waiver period,

Rosatom Director General Alexey Likhachev said: “On 17 March, an attack was carried out on the territory adjacent to the metrological service building, located at the industrial site of the Bushehr NPP in close proximity to the existing power unit. There were no injuries among Rosatom staff. The radiation situation on the site is normal.”

The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation.

The Russian Deputy Prime Minister Alexander Novak and Turkish Energy and Natural Resources Minister Alparslan Bayraktar have been discussing additional prospects for cooperation in their bilateral oil and gas, as well as the development of nuclear energy, at meetings held in Istanbul.

After months of no contact, discussions with the US have resumed amid heightened threats of a potential conflict, following Washington’s increasing military buildup in regional waters near Iran that began in January.

Saudi Arabia and Türkiye have signed a strategic agreement to develop large-scale renewable energy power plant projects in Türkiye.

The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 1 February 2026, to review global market conditions and outlook.

The eight participating countries reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner.

UK-based Tokamak Energy has agreed an international strategic partnership with Saudi Arabia’s King Abdulaziz City for Science and Technology (KACST) during the Future Investment Initiative in Riyadh.

Situated in Al Ruwais Industrial City, Abu Dhabi, the 9.6 Mt/year Ruwais LNG project is expected to begin commercial operations in 2028.

In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137 thousand barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023.

Russian-origin crude liftings from Russian ports reached 3.88 million b/d, the highest since April 2024,

Companies are free to decide how they want to organise their production processes in accordance with the specifications of the energy sources used (electricity, low-carbon hydrogen, biomass) but selected projects will be required to achieve binding milestones for emission reduction (60% from the third year onwards, 90% in the last year of the term of the contracts).

The Committee also reaffirmed that it will continue to monitor adherence to the production adjustments decided upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 5 December 2024, and the additional voluntary production adjustments announced by some participating OPEC and non-OPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.

The MoU was signed by Rosatom CEO Alexei Likhachev and the President of the Atomic Energy Organisation of Iran Mohammad Eslami.