China has eclipsed Russia as the main trade partner of all five Central Asian states, according to official statistics. Kazakhstan is the most recent Central Asian country to see Beijing pass Moscow in terms of annual trade turnover. For the first nine months of 2023, China accounted for a 21.3 …

As more electricity grids worldwide are being connected to renewable energy projects, such as wind and solar farms, suppliers are using this as the opportunity to develop smart grids that are safer, can better respond to consumer needs, and can carry out real-time demand monitoring activities. While this is no …

Russia may have to put its plans to significantly boost its eastbound pipeline gas exports and its LNG exports to the global markets on ice amid growing challenges. Russia has relied on the Chinese market for higher pipeline gas exports since Putin’s invasion of Ukraine and the slashed volumes of …

The International Energy Agency (IAE) reported that Iraq ranks second in the Arab world for oil reserves. According to the IEA’s latest report, Saudi Arabia ranked first in oil reserves with 267.19 billion barrels. In comparison, Iraq maintained its position (second) with 145.01 billion barrels, and the UAE showed an …

Russia’s energy giant, Gazprom, is poised to increase gas deliveries to Central Asian nations as the company aims to sign fifteen-year contracts with Kazakhstan, Kyrgyzstan, and Uzbekistan by mid-2024. The announcement came from Alexey Miller, Chairman of the Gazprom Management Committee, during the company’s final pre-New Year conference. Miller revealed …

Refining margins for diesel in Northwest Europe end this year 40% below the levels from the end of 2022, despite the EU ban on seaborne imports of Russian petroleum products that came into effect in February 2023. Europe has imported more diesel from the Middle East and Asia this year …

The first batch of fuel export quotas that China has issued for 2024 is basically unchanged from the first batch of allowances for 2023, Chinese consultancies and trading sources told Reuters on Friday. Chinese refiners are allowed to export diesel, gasoline, and jet fuel under strict quota regulations, with allowances …

Kanaani made the remarks in reaction to a joint statement of the US and three European countries on Iran’s nuclear program. It is very ridiculous that the countries responsible for the current condition of Iran’s nuclear program are distorting the reality to change the place of the guilty and the …

OPEC could potentially face further loss of market share in early 2024 following the recent departure of Angola, weakening demand and rising output by non-OPEC producers, Reuters claims, based on its own calculations. Reuters reports that OPEC’s production is set to slip below 27 million barrels per day (bpd) without …

Concerns about economies and oil demand amid rising interest rates have pushed oil prices down to a 10% decline this year, the first annual drop since 2020, despite the OPEC+ production cuts and a new war breaking out in the Middle East. On Friday, the last trading day of 2023, …