The total number of total active drilling rigs in the United States fell by 7 this week, according to new data from Baker Hughes published on Friday. The total rig count fell to 753 this week—103 rigs higher than the rig count this time in 2022 and 322 rigs lower …

Europe is boosting the amount of crude it imports from Angola as the continent’s ban on Russian oil upends typical trade routes. More than 40% of Angola’s 32 crude cargoes for loading this month are bound for destinations west of the Suez Canal — mostly to Europe as well as …

Iran’s trade with Caspian Sea littoral states stood at 5.54 million tons worth $3.03 billion. According to the Islamic Republic of Iran Customs Administration, Iran’s trade (excluding crude oil exports) with Caspian Sea littoral states stood at 5.54 million tons worth $3.03 billion during the first 10 months of the …

Iran has ranked ninth steel-producing country in the world, the World Steel Association reported. In January 2023, Iran stands as the ninth-biggest producer of steel in the world, the WSA said. Iran has produced 2 million and 700 thousand tons of steel in the first month of 2023. The figure …

In a meeting Iraqi Parliament Speaker, the Iranian Foreign Minister described Tehran-Baghdad regional cooperation as fast-paced and effective. Iranian Foreign Minister Hossein Amir-Abdollahian and his accompanying delegation met with Iraq’s Parliament Speaker Mohamed Al-Halbousi in the capital Baghdad on Wednesday night. During the meeting, the two officials discussed Iran-Iraq relations …

Japan is concerned that a proposed revision to Australia’s gas security guidelines could undermine LNG trade practice and investments, a senior Japanese government official told S&P Global Commodity Insights Feb. 22, adding that Tokyo will formally submit a response to the Australian government on Feb. 23. “As Japan, we steadily …

The United Arab Emirates’ national oil company wants to raise up to $2 billion from its natural gas business in what is set to be the largest initial public offering so far this year. Abu Dhabi National Oil Co. is selling a 4% stake in ADNOC Gas, with each off …

China commenced the construction of the world’s highest ultrahigh-voltage electricity transmission project, from Southwest China’s Sichuan Province and Xizang Autonomous Region to Central China’s Hubei Province, media outlet the Sichuan Daily reported on Tuesday. The transmission project will transmit about 40 billion kilowatt hours of electricity including hydro electricity from …

With the fading of economic headwinds and easing of global financial conditions, China and India alone are expected to contribute more than half of global growth this year, with the rest of Asia contributing an additional quarter, International Monetary Fund IMF) said on Tuesday in its blog post on Asia’s …

The European Parliament (EP) announced recently that it has approved new CO2 emissions reduction targets for new passenger cars and light commercial vehicles. Members of European Parliament endorsed a deal reached with the European Council back in October 2022 with 340 votes in favor, 279 against and 21 abstentions, the …