Green hydrogen is produced from renewable energy, while blue hydrogen is derived from fossil fuels with carbon capture, utilization and storage.

Russia, the largest non-OPEC partner in the alliance, has increasingly flouted its cap over the last several months, with its excess production soaring to 877,000 b/d.

Iran, an OPEC member whose oil exports have dwindled since the re-imposition of US sanctions in 2018, began in April indirect talks with the US in Vienna amid hopes for Washington to rejoin the 2015 Joint Comprehensive Plan of Action nuclear deal.

Net income for the first quarter of 2021 increased to SAR 81,440 ($21,717), from SAR 62,478 ($16,661) for the same period in 2020, primarily driven by higher crude oil prices, improved downstream margins and the consolidation of SABIC’s results, partly offset by lower crude oil volumes sold.

Basrah Gas Co., which counts Shell, Mitsubishi Corp. and Iraq's state-owned South Gas Co. as shareholders, will boost its production to 1.4 Bcf/d from the current 1 Bcf/d by 2025 at a cost of $3 billion,

OPEC+ officials said they see no reason to be alarmed, and the group's production is set to rise anyway.

The Sinopec award comes on the heels of an agreement between Iraq and Total to jointly work on developing four associated gas and solar power projects.

The kingdom exported 5.63 million b/d in February, according to JODI data released April 19, down 957,000 b/d from January.

“We are on the right track and some progress has been made, but this does not mean that the talks in Vienna have reached the final stage,” Foreign Ministry spokesman Saeed Khatibzadeh told a weekly news conference in Tehran.

The governments of France, Germany and the UK on 14 April responded to Iran's plans to enrich to 60% with "grave concern",

The two leaders are to hold broad talks on steps to further improve bilateral relations and to chair the first meeting of the Turkey-Libya High Level Strategic Cooperation Council.

With the production gains, OPEC+ compliance with its quotas slipped to 111% in March, compared with 113.5% in February, juiced by Saudi Arabia voluntarily cutting an additional 1 million b/d since January.

Iran has insisted that the US drop all the sanctions it unilaterally imposed after withdrawing from the deal in 2018, while US officials have maintained that Iranian nuclear violations of the agreement must be rectified first.

Upon closing, Aramco will receive upfront proceeds of around $12.4 billion, further strengthening its balance sheet through one of the largest energy infrastructure deals globally.

Japan's Ministry of Economy, Trade and Industry on April 8 signed a memorandum of cooperation with the UAE's Ministry of Energy & Infrastructure to jointly consider developing an international hydrogen supply chain with an eye to supply the fuel to Japan.