Saudi Arabia and Iraq are helping Europe wean off of Russian crude, which is increasingly headed to Asia, as Vladimir Putin’s war on Ukraine reshuffles the global energy market. Europe has imported more than 1 million barrels per day via the SuMed pipeline in the first three weeks of July, …

The Hungarian foreign minister says Iran’s more forceful return to the global energy markets will serve the interests of all countries. Péter Szijjártó, in a phone conversation with his Iranian counterpart Hossein Amirabdollahian, stressed that the issue of energy is vital for Europe and the world, thanking Iran for caring …

The head of the Atomic Energy Organization of Iran (AEOI) says construction of the second and third phases of the Bushehr nuclear power plant has been accelerated to tackle Iran’s need to diversify its power generation resources. In a trip to the central Iranian city of Khondab on Friday, Mohammad …

Libya’s National Oil Corporation (NOC) aims to bring back production to 1.2 million barrels per day (bpd) in two weeks, NOC said in a statement. “NOC is striving to increase production and bring it back to its normal rates of 1.2 million barrels per day in two weeks,” according to …

Despite high international crude and POL prices, the country has imported record-high oil products and crude, both in volume and money terms, on the back of rising U.S dollar strength against the rupee and the government’s decision to raise local POL prices to revive stalled IMF’s program. Having a record …

French-headquartered energy giant TotalEnergies has completed all the required steps to pull out of Myanmar while Thailand’s PTTEP has taken over the operatorship helm at the Yadana offshore gas field. Back in January 2021, TotalEnergies announced its decision to withdraw from its operations in Myanmar, specifically the Yadana field and …

Saudi Arabia has limited additional crude oil production capacity, Wall Street Journal sources revealed on Wednesday. The sources, who are said to be familiar with Saudi Arabia’s oil production capabilities, were not named. The mystery surrounding Saudi Arabia’s crude production capabilities has grown in recent weeks amid a tight oil …

For the first time in six years, the European Union (EU) has overtaken Asia as the biggest buyer of US crude oil, Bloomberg reported. The EU imported 213.1 million barrels US crude over the first five months of the year, while Asia imported 191.1 million barrels, new US Census Bureau …

An Australian advert hyped up the future of “renewable gas” this month in a bid to start raising public knowledge of new green energy projects that could eventually change our home energy use. Automakers and many energy majors have already set their sights on green hydrogen, but there is little …

China became the world’s largest importer of liquefied natural gas last year. But in a completely different energy market this year, China will likely cede the title to Japan, as Chinese imports of LNG are set for the largest-ever annual plunge since China started importing the super-chilled fuel in 2006. …