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Iraq Prime Minister Mohammed Shia Al Sudani has directed his ministry to halt imports of middle distillates such as gasoline, diesel and kerosene, claiming his country has achieved self-sufficiency through increased oil production coupled with ongoing additions of refining capacity. Iraq has ramped up oil production and exports, partly through the success of its Nasiriyah field as well as increased production quotas within the OPEC+ agreement. Specifically, production at the Nasiriyah field has increased to 80,000 barrels a day by bringing…
Global energy giant ExxonMobil reported third-quarter 2025 earnings last week. Those results delivered some eye-popping numbers for all the right reasons. The global energy supermajor announced a solid performance despite softer oil prices and a challenging operating environment. While Exxon’s Permian Basin assets are a key part of the story, Exxon’s Guyana operations are another important driver of this notable performance. Exxon made its first discovery in Guyana’s territorial waters in 2015 with the Liza-1 well in the 6.6-million-acre…
The surge in artificial intelligence and digital infrastructure has turned data centers into the fastest-growing source of new electricity demand in North America. Grid operators and policymakers are racing to keep up, and for energy providers, this wave of demand could open new frontiers of opportunity. Challenge 1: Capacity bottlenecks Data center developers are demanding power within tight timelines, while interconnection queues for new generation and transmission projects can stretch for years. Some operators are now building private…
Much of the hydrogen discourse over the past decade has been aspirational: visions of a clean hydrogen economy, deep decarbonization of industry and transport, and futuristic power systems built around electrolysis. In many of my earlier pieces on OilPrice, I warned that hydrogen was entering a “reality phase” — where hype must give way to execution, economics, and scaling. Now we are beginning to see real projects crossing the threshold, and the balance is shifting. But the path forward is fragile: execution, policy alignment,…
A Ukrainian drone attack hit Russia's Black Sea port of Tuapse on November 2, setting an oil tanker ablaze and damaging port infrastructure, in the latest of a series of strikes on Moscow's crucial oil sector. A source in Ukraine's Security Service (SBU) told RFE/RL's Ukrainian Service it had fired dozens of drones at the facility, which has been targeted in multiple attacks this year. "Five drone hits were recorded. As a result of the attacks, a tanker caught fire and at least four oil tanker [loaders]...were disabled. Port buildings were also…
