International

European Union countries are set to tussle over emergency regulation that could force 15% cuts in gas consumption through the winter if Russia escalates its showdown with the bloc by halting deliveries. Energy ministers from the bloc’s 27 member states will meet on Tuesday to wrangle over backing a proposal …

Asian natural gas prices are rallying on fears that Russia will slash supply again and worsen a global fuel shortage. The North Asia liquefied natural gas benchmark jumped 12% Friday, and is trading near the highest level since Russia’s war in Ukraine upended the global market, according to data from …

Russia’s latest move to cut natural gas supply to Europe is intensifying global competition for seaborne shipments of the fuel, threatening higher prices and shortages from Asia to South America. Utilities in South Korea and Japan are accelerating plans to purchase more liquefied natural gas cargoes for winter out of …

Iraq and Saudi Arabia are working on sending their crude oil to Europe in an effort to help the continent’s oil refineries which are desperately trying to give up the oil supplies from Russia. According to a report recently published by Bloomberg, more than one million barrels per day of …

China’s finance and investment spending in Belt and Road countries fell slightly in the first half compared to a year earlier, with no new coal projects and investments in Russia, Egypt and Sri Lanka falling to zero, new research showed. Saudi Arabia was the biggest recipient of Chinese investments over …

The U.S. crude oil imports from Iraq averaged 456 thousand barrels per day (bpd) last week, the Energy Information Administration (EIA) said on the weekend. In its weekly report on U.S. oil imports, EIA said that the U.S. net oil imports averaged 5.722 million bpd last week, up by 439 …

The state-owned National Oil Corporation (NOC) of Libya on Saturday said that it plans to increase the daily oil production to 1.2 million barrels, Trend reports citing Xinhua. “The NOC is striving to increase production and bring it back to its normal rates of 1.2 million barrels per day in …

The federal government in Baghdad and the autonomous Kurdish region pledged Saturday to “increase dialogue” to ease a simmering oil dispute that has been playing out in the courts in recent months. The announcement came during a rare visit to the Iraqi capital by the Kurdish region’s prime minister. Masrour …

Saudi Arabia expects to have freed up to 1 million barrels per day (bpd) of oil for exports by 2030 by cutting its direct oil use in power generation as it looks to replace petroleum liquids with gas-powered generation and renewables, Energy Intelligence reports, quoting industry sources. Saudi Arabia relies …

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, …