In the Autumn of 2023, the International Copper Study Group (ICSG) forecast that the copper market was likely to experience a significant surplus of the metal in 2024 after several companies worldwide ramped up their operations in response to the growing global demand. However, by the end of the year, …

Oil and gas companies plan to boost exploration activity and spending offshore Norway this year as Western Europe’s top oil and gas producer looks to maintain production and raise exports to the rest of Europe. Currently, most exploration efforts are focused on areas around existing infrastructure so discoveries can be …

The Russian energy giant Gazprom announced on Saturday that it set a new record for daily gas deliveries to China on Jan. 12. “The supply via the Power of Siberia gas pipeline has again exceeded the company’s daily contractual obligations,” the company said in a statement, without specifying how many …

The manager of the National Iranian Oil Company (NIOC) for planning affairs said the country is going to invest about $275 billion by 2041 for the development of the oil and gas fields. Speaking at the First Conference of Managers of the National Iranian Oil Company, Ahmad Rajabi stated that …

Turkey is on track to have the third-largest natural gas storage capacity in Europe, thanks to the planned expansion of storage facilities. Its strategic geographical position makes it a key transit country for natural gas pipelines from various regions, including Russia, the Caucasus, the Middle East and Africa. Enhancing gas …

Turkey’s main oil refiner Tupras claims that a ship seized by Iran off the coast of Oman was laden with Turkish crude imported from Iraq. Tupras said in a statement that radio communication with the Greek-owned and Tupras-chartered vessel was cut off at around 6:30 a.m. Istanbul time Thursday off …

Oil prices surged four percent on Jan. 12 after U.S. and UK forces launched strikes against Iran-backed Houthi rebels following their attacks on ships in the Red Sea. Tokyo and European stock markets ended the week with strong gains as traders brushed off data showing U.S. inflation rose more than …

China imported a record-high volume of crude oil last year, beating the previous annual record from 2020, as fuel demand rebounded after the Covid restrictions were abandoned in early 2023. Chinese crude oil imports jumped by 11% year-on-year to 11.28 million barrels per day (bpd) in 2023, according to data …

The United Kingdom government said it is considering a third new-generation nuclear plant with the same power capacity as the under-construction Hinkley C and the approved Sizewell C. The third plant is part of the Civil Nuclear Roadmap announced by the Department of Energy Security and Net Zero (DESNZ) Thursday, …

The easing of the COVID-related sanitary regime at Chinese customs crossings enabled Kazakhstan to quadruple the amount of agricultural goods it exported to the country in 2023 as compared to a year earlier. The 2.2 million tons, which comprised wheat, barley, soybeans, flax and sunflower seeds, that was sent to …