Steel is a critical component of modern industry and economy, essential for the construction of buildings, automobiles, and many other appliances and infrastructure used in our daily lives. Visual Capitalist’s Niccolo Conte create this infographic, using data from the World Steel Association, to visualize the world’s top steel-producing countries, and …

Turkey will conduct oil exploration activities in the eastern Black Sea, Energy and Natural Resources Minister Fatih Donmez has said, adding that finding oil in this area is likely. Oil exploration activities are presently concentrated off the coast of the province of Zonguldak and seismic studies off the coast of …

Chinese President Xi Jinping called for accelerating the construction of the 4th line of the Turkmenistan-China gas pipeline, which will also be laid on the territory of Tajikistan and Kyrgyzstan, Trend reports. In his speech at the first face-to-face summit “Central Asia – China”, which is being held in Xi’an, …

There will be no significant effect on oil prices from stricter enforcement of the price cap on Russian oil exports as supply will not change meaningfully. This is according to the International Energy Agency, which commented on a statement made by the G7 during their meeting this weekend. “Any significant …

Oil prices were steady on Monday as caution relating to U.S. debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and OPEC+ producers. Brent crude futures rose 13 cents, or 0.2 per cent, to $75.71 a barrel by 0850 …

The Council of Ministers of Bosnia and Herzegovina has agreed to begin negotiations on building a gas pipeline to ship gas from Russia, the head of Republika Srpska’s representative office in Russia told state news agency RIA in an interview published on Monday. RIA cited Dusko Perovic as saying: “The …

China continues to fill the technology gap left by the exit of western companies from Russia’s Arctic energy projects. For the past year Novatek has been looking to procure crucial gas turbines for its Arctic LNG 2 project. Originally American company Baker Hughes had been slated to provide the equipment …

The National Iranian Gas Company raised its natural gas exports in 2022 by 17%, the managing director of Iranian Gas Transmission Company said. “The state-run company’s exports reached 17 billion cubic meters in 2021 and 20 bcm in 2022,” Gholam-Abbas Hosseini was also quoted as saying by IRNA. Turkey buys …

OPEC Secretary General Haitham Al Ghais said on Monday that underinvesting in the oil and gas sector could cause market volatility in the long term and imperil growth. He also said the world needs to focus on reducing green house gas emissions rather than replacing one form of energy with …

Nickel-rich Indonesia on Saturday’s G7 Summit in Hiroshima proposed the establishment of an OPEC-like organization for the silvery metal. The OPEC, which Indonesia was once a member of, is short for the Organization of the Petroleum Exporting Countries. OPEC says it aims to coordinate the petroleum policies of its member …