China’s crude oil imports hit a record high in 2023, rising by 10% year-over-year and breaking the previous record from 2020 when the world’s top crude oil importer took advantage of the price crash to gorge on cheap crude. Last year, China’s crude oil imports averaged 11.3 million barrels per …

U.S. greenhouse gas emissions rose 1.3% in 2022, reflecting post-COVID economic recovery, but declined 17% since 2005, according to the Environmental Protection Agency’s (EPA) Annual US Greenhouse Gas Inventory (GHG Inventory), released every April. The EPA’s neutral policy report has been released annually since its inception in 1993, in accordance …

Russia has brought back online some oil refining units in recent weeks, reducing the capacity taken offline by Ukrainian drone hits to around 10%, from 14% at the end of March, calculations by Reuters showed on Monday. The refining capacity in Russia that is currently offline due to drone attacks …

BP has cut over a tenth of its workforce in its EV charging business, BP Pulse, as the supermajor is downsizing the division and retreating from several countries to focus on just four key markets, Reuters reported on Monday, quoting sources at the company. BP has cut more than 100 …

Kazakhstan exceeded its oil production quota under the OPEC+ deal by 131,000 barrels per day (bpd) in March, due to the weather and heating season requirements, the country’s Energy Ministry said on Sunday, pledging that the non-OPEC producer will look to compensate in the coming months for its overproduction. “Kazakhstan …

Japan’s Tokyo Electric Power Co. has loaded its biggest nuclear power plant, Kashiwazaki Kariwa, with fuel for the first time since the Fukushima disaster, Bloomberg has reported. The move is part of a nuclear power return on the Japanese scene after the 2011 tragedy, which saw all nuclear reactors in …

Goldman Sachs analysts have brushed off the latest events between Iran and Israel as a bullish factor for oil prices, citing potential hedging by producers. “Our commodities strategists do not expect substantial further upside to oil prices,” the bank said, as quoted by FXStreet, adding that “Hedge funds continued selling …

Russia has been exporting newly-made copper rod to China disguised as copper scrap in recent months—a new trade avenue for the two regimes that has been evading Western sanctions on Russian copper and export and import duties in both countries, Reuters reported on Monday, citing sources with knowledge of the …

Turkmenistan and the EU discussed the diversification of gas supply routes, Trend reports. According to the Ministry of Foreign Affairs of Turkmenistan, this topic was discussed in Brussels during the participation of the Turkmen delegation headed by Myrat Archayev, Deputy Chairman of the Turkmengaz State Concern, in a meeting of …

Natural gas storage facilities in the European Union region were stocked to over 58 percent of capacity as of March 31, when the winter heating season ended, EU Energy Commissioner Kadri Simson has said. “This is the highest level on record at this time of year”, Kadri said in a …