The US Energy Information Administration (EIA) revealed on Sunday that Iraq exported more than six million barrels of oil to the United States in January 2025. The EIA mentioned that Iraq’s crude oil exports to the United States reached 6.23 million barrels in December, less than the country’s oil exports …
Read More »Atomic Energy Official: Iran to Build Yellowcake Production Plant
Iran’s Atomic Energy Organization has announced plans to construct a yellowcake production plant as part of its ongoing uranium mining and processing operations. Seyyed Javad Ahmadi, Deputy Head of the Atomic Energy Organization of Iran (AEOI), made the announcement during the launch of uranium extraction and processing at the General …
Read More »China Aims for Stable Crude Oil Production above 200m Tons in 2025
China aims for stable crude oil production above 200 million tons in 2025, the National Energy Administration (NEA) said on Thursday. In 2024, China’s total oil and gas output exceeded 400 million tons of oil equivalent for the first time, playing a “ballast” role in ensuring the stable production, supply …
Read More »China’s Tariff Moves could Derail U.S. LNG Expansion
China is widely expected to stop buying U.S. LNG on the spot market and seek to swap American cargoes from elsewhere after it announced a 15% tariff on U.S. liquefied natural gas in response to the 10% American tariffs across the board. Chinese buyers could also become more hesitant to …
Read More »Iran-China Non-Oil Trade Stands at $26.7b in 10 Months
The value of non-oil trade between Iran and China stood at $26.7 billion in the first 10 months of the current Iranian calendar year (March 20, 2024-Jnuary 19, 2025), the head of the Islamic Republic of Iran Customs Administration (IRICA) announced. Foroud Asgari said that importing non-oil goods worth $12.3 …
Read More »India’s Fuel Demand Increased by 3.2% Year-over-Year in January
Fuel demand in India, the world’s third-largest crude oil importer, increased by 3.2% in January from a year earlier, although consumption was lower compared to December 2024, when holiday travel and the end of the monsoon season resulted in a surge in demand. India’s fuel consumption, used by analysts as …
Read More »Chinese Refiners Slash Run Rates as Sanctions Cripple Russian Crude Supply
China’s independent refiners have slashed their processing rates to the lowest level in nearly five years as costs to procure crude soared amid dwindling Russian supply following the latest U.S. sanctions. Crude supply became more expensive for the private Chinese refiners, concentrated in the Shandong province, and dragged refining margins …
Read More »Pakistan Seeks Lower Prices for Its Long-Term Qatar LNG Deal
Pakistan will renegotiate its long-term LNG supply deal with Qatar as it looks to lower its costs for the growing energy demand going forward, Pakistani Petroleum Minister Musadik Malik said on Friday. “The Qatar agreement is costly, and we will negotiate better terms next year,” Pakistani newspaper The News quoted …
Read More »Top EU Gas Storage Holders Discuss Easing Refilling Targets
A group of EU member states that have the largest natural gas storage capacity have held informal discussions about a potential easing of the binding filling targets after 2025, officials have told Bloomberg. In the wake of the 2022 Russian invasion of Ukraine and the halt to Russian pipeline gas …
Read More »Geopolitical Uncertainty Fuels Gold’s Record-Breaking Demand
Demand for gold reached record highs in 2024 fuelled by “eye-watering” interest from central banks and global investors, a fresh report has said. Total demand reached 4,974 tonnes, and the value of global demand shot up to $382bn, over a year which saw the gold price surge by 26 per …
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