Leviathan, one of the world’s biggest offshore gas discoveries of the last decade, has turned Israel into an energy exporter in a tumultuous region and has weaned it off more polluting imports, notably coal.

OPEC members and allied oil producers, the so-called OPEC+, have agreed to cut their crude oil production by an additional 500,000 bbl/d until their next meeting in early March 2020.

Iran’s support for any output reduction agreed by a majority of OPEC member states

"The contract core sum is $876 million and with its side costs the investment will reach $1.3 billion," Zanganeh said.

The Russian delay is sure to frustrate OPEC kingpin Saudi Arabia, which had called for the collective to immediately implement deeper cuts of 500,000 b/d or more amid the sell-off in crude prices.

The EU has agreed to sanctions against two officials from Turkey’s state petroleum company.

Russian President Vladimir Putin and Saudi King Salman bin Abdulaziz "thoroughly discussed" the current oil market conditions as prices have fallen by more than 20% in the past three weeks amid global oil demand concerns, a Kremlin statement said late Monday.

In accordance with Bahrain’s national energy plan, renewable energy will be an area of particular interest in order to consider potential business opportunities. In the LNG sector, the collaboration will target a more sustainable and efficient energy mix to meet Bahrain’s future energy needs. Eni’s unique know-how and expertise will also be leveraged to evaluate further exploration opportunities.

Saudi Arabia over-complied with its quota of 10.31 million b/d last year under the old agreement with the 23-member OPEC/non-OPEC coalition, collectively known as OPEC+, as the country made up for laggards Iraq and Nigeria, which flouted their quotas for most of last year.

Iraq's federal exports averaged 3.3 million b/d, compared with 3.43 million b/d in December, the oil ministry said in a statement on Saturday. The January figure is 420,000 b/d lower than the all-time high of 3.726 million b/d reached in December 2018.

"ADNOC will deploy capital, technology, and expertise to develop and produce shallow gas resources and conduct further exploration to assess further volumes and firm up development costs," it said Monday in a statement.

The big annual boost in Saudi shipments followed a new marketing strategy by state-run Aramco, which signed at least two new supply pacts with private refiners in China that came into the market from late 2018. Previously, Saudi Aramco had only dealt with China’s state refiners in long-term contracts.

The potential that the waivers would lapse has raised concerns since 2019 that state-owned Russian nuclear company Rosatom, which does work for Iran's civilian nuclear program but also supplies a fifth of US enriched uranium, could be sanctioned, disrupting the supply of nuclear fuel to US utilities.

Turkey's total gas consumption decreased by 15.8% to approximately 3.44 bcm in November 2019, from around 4.09 bcm in November 2018.

Gazprom supplied its first billion cubic meters of gas via the TurkStream gas pipeline.