International

Coal India Limited, the biggest coal producer in the world’s second-biggest coal user, opened this year its online coal supply auctions directly to buyers in Bangladesh, Bhutan, and Nepal, as Indian coal supply has swelled amid weaker-than-expected demand in recent months. Amid an oversupply of coal and weaker demand, India …

India’s government is asking domestic refiners to provide timely and accurate data on a weekly basis of imports of Russian and U.S. crude, as New Delhi plans to show the data to the U.S. Administration as it seeks a trade deal, sources with knowledge of the efforts told Reuters on …

Despite the public spat between two of OPEC’s top producers, Saudi Arabia and the United Arab Emirates (UAE), the wider OPEC+ group is expected to confirm at a Sunday meeting that it would hold output steady through the first quarter of 2026, delegates from the alliance told Reuters on Friday. …

Turkey will start drilling in a deepwater offshore location in Somalia next month in what would be the country’s first foray in deepwater drilling, Ankara’s energy minister told media today. Alparslan Bayraktar did not provide details about the drilling program, only noting that the Somalian project would be Turkey’s first …

Turkey’s state-run energy champion Turkish Petroleum Corporation (TPAO) is on track to dramatically scale up production, with daily oil and gas output expected to reach around 500,000 barrels by 2028, Energy and Natural Resources Minister Alparslan Bayraktar said this week. Speaking to local media, Bayraktar said the projection is based …

Venezuela has begun shutting wells that pump extra-heavy crude in the Orinoco Belt, as the U.S. blockade is squeezing shipments and filling up storage space, sources with knowledge of the plans of state oil firm PDVSA told Bloomberg. PDVSA, the key handler of Venezuela’s crude exports, mostly to China, began …

Following the Ukrainian drone attack that damaged a key export terminal on Russia’s Black Sea at end-November, Kazakhstan’s crude and condensate production has fallen by 6% so far in December compared to the average output in November, an anonymous industry source told Reuters on Monday. A Ukrainian attack damaged infrastructure …

The European Union is looking to expand its rare earths production to help fuel an accelerated green transition, as the demand from countries in the bloc continues to grow in line with the deployment of more renewable energy capacity. Ramping up production would also help the EU reduce its reliance …

Libya’s vast fossil fuel potential and “investor-friendly reforms” are attracting global energy firms despite the inherent political risks, a boost for the oil-rich African nation. The latest bid round from the country offers 22 blocks with an estimated 10bn barrels of available resources and 18bn barrels yet to be discovered, …

Global trading in oil and precious metals was suspended on Thursday due to the Christmas holiday, leading to subdued market activity and the absence of daily price updates. According to the latest closing data before the holiday, Brent crude settled at $62.29 per barrel, while US West Texas Intermediate (WTI) …