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OPEC+ group of leading global oil producers could bring forward its output hikes by around a year from the initial plan, Igor Sechin, head of Russia's largest oil producer Rosneft, said on Saturday. He also said that the decision by the OPEC+ to speed up output increase now looked far-sighted and justified in the light of the confrontation between Israel and Iran. The Organization of the Petroleum Exporting Countries and its allies, led by Russia, shocked oil markets in April by agreeing a [Read more]

Decision by the OPEC+ group of leading global oil producers to speed up production increase now looks far-sighted and justified amid the Middle East conflict, Igor Sechin, head of Russia's largest oil producer Rosneft, said on Saturday. Speaking at the St. Petersburg International Economic Forum, Sechin also said there will be no oil glut long-term despite the production rise. He said that the European Union seeks to reduce Russian oil price cap to $45 in order to improve profitability of its [Read more]

A senior Iranian official said on Saturday that proposals put forward by European powers at talks in Geneva about his country's nuclear programme were "unrealistic", suggesting that if they stuck to them it would be difficult to reach an accord. There were few signs of progress on Friday after the foreign ministers of Britain, France and Germany, known as the E3, plus the EU met their Iranian counterpart in a bid to prevent the conflict between Israel and Iran from escalating. "The [Read more]

Rosneft CEO Igor Sechin, one of the most influential men in Russia's energy sector, said on Saturday that China was seeking complete energy independence and that in the foreseeable future it could become a major energy exporter. China's economic and military rise over the past 45 years is considered to be one of the most significant geopolitical events of recent times, alongside the 1991 fall of the Soviet Union which ended the Cold War. Sechin said that a massive increase in electricity [Read more]

Yemen's Houthis will target U.S. ships in the Red Sea if Washington becomes involved in Israeli attacks on Iran, the group's military spokesperson said on Saturday. In May, the U.S. and the Houthis agreed to a ceasefire under which neither side would target the other. (Reporting by Hatem Maher and Enas Alashray; Editing by Andrew Cawthorne) [Read more]

Gulf Cooperation Council ambassadors have expressed concerns to U.N. nuclear watchdog chief Rafael Grossi about the safety of nuclear facilities close to their countries amid the Israeli-Iranian crisis, Qatar state news agency reported on Saturday. The ambassadors warned Grossi during a meeting in Vienna about the "dangerous repercussions" of targeting nuclear facilities. The warning comes after the Israeli military said at one point on Thursday that it had struck the Russian-built Bushehr [Read more]

CALGARY, Alberta, June 20, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced that, for personal reasons, Peter Dey will be stepping down from the Board of Gran Tierra at the end of June 2025. Peter has agreed to make himself available to consult with the Board as required until the end of 2025 while a search is conducted for a replacement director. “On behalf of the Board of Directors of Gran Tierra, I want [Read more]

Israel's surprise attack on Iran last week had oil prices spiking which sent U.S. producers scrambling to lock in the price gain, driving record hedging volumes that will help shield them from future price swings. West Texas Intermediate crude futures rose further this week, closing on Friday at around $75 a barrel. This prompted U.S. producers to secure additional price gains through 2026, having already driven hedging activity on the Aegis Hedging platform to a record high last Friday. Aegis [Read more]