Energy

Oil-producing countries in the OPEC+ grouping have announced that they would cut production in order to prop up prices

An ongoing dispute between the Iraqi federal government and KRG over oil has led to political deadlock, with some energy and political experts offering a way out.

'We have an initial understanding [with the KRG], God willing we will reach a solution within the coming three days,' Iraq's oil minister said on Sunday.

Doha will supply Sinopec with three million tonnes of natural gas a year under the deal, QatarEnergy said, announcing another agreement granting the Chinese oil giant a further share of Qatar's North Field gas expansion project.

Israeli natural gas exports to Egypt have resumed after a disruption last weekend, but in small volumes.

Qatar has agreed to supply Italian firm Eni with natural gas for 27 years, QatarEnergy has said.

South Korea's KNOC has signed an oil storage agreement with Saudi oil giant Aramco to reserve 5.3 million barrels for five years.

Venezuela has been under US sanctions since 2015 following the repression of anti-government protesters, with further sanctions being added following the contested re-election of President Nicholas Maduro in 2018.

Qatar will supply 3.5 million tonnes of gas a year under the newly-inked 27-year deal with Shell, QatarEnergy said.

Iraq is seeking to export gas from countries other than Iran, which regularly cuts supply over payment issues.