International

India is launching a national deepwater exploration mission to tap more of its energy resources, boost domestic energy supply, and reduce dependence on imports, Prime Minister Narendra Modi said on Friday. “India will harness its deepwater energy resources, strengthening energy self-reliance and reducing dependence on foreign fuel imports,” Modi said …

The Saudi Private Investment Fund has written down $8 billion from the value of the Saudi state’s megaprojects over the past year as they struggle to move forward amid budget overruns combined with weaker oil prices. According to a Financial Times report that cited an unnamed source, Saudi Arabia’s sovereign …

Brent crude prices are on track for a sharp decline in the coming months, with the U.S. Energy Information Administration (EIA) now forecasting prices to fall from $71 per barrel in July to an average of $58 in the fourth quarter of 2025—and to slip toward $50 in early 2026. …

Ford will invest $5 billion in the production of a new line of EVs and batteries, despite the Trump administration’s removal of EV subsidies. The carmaker said the investment, in its Louisville assembly plant and the BlueOval battery park in Michigan, will “create or secure” as many as 4,000 jobs …

Norway has started to plan its 26th oil and gas licensing round in little explored frontier areas as it looks to boost exploration and resources to stem an expected decline in production from the early 2030s. Norway’s Energy Ministry has launched work on announcing the new licensing round for the …

Syria’s caretaker government is moving to restore the Kirkuk-Baniyas oil pipeline with Iraq, a strategic corridor that had the capacity to move up to 300,000 barrels per day to Syria’s Mediterranean coast before war and sanctions shut it down in the early 2000s. Syrian Energy Minister Mohammed al-Bashir will travel …

The European Union has increased its imports of Russian liquefied natural gas (LNG) by 9% since the war in Ukraine began in 2022, even as it calls out other nations for allegedly financing the Kremlin. According to The Economic Times, Russian LNG shipments to the bloc rose while purchases from …

Continued weaker demand for hybrid vehicles slowed the growth in China’s new energy vehicles to 12% in July from nearly 20% in June, according to official Chinese data published on Friday. Overall Chinese car sales also saw slowing growth last month, as the government is trying to tackle the overcapacity …

Russia’s Urals crude grade, which usually goes from the western Russian ports to India, is now being offered at discounts in China amid uncertainties over Indian purchases of Moscow’s oil following the additional tariffs. Spot Urals shipments going to China would be a significant re-routing of the Russian oil export …

U.S. President Donald Trump on Monday said he would “substantially raise tariffs” on Indian exports in response to the country’s continued import and resale of Russian crude oil. The remarks, posted on Truth Social, marked the first time Trump directly tied trade penalties to India’s energy sourcing decisions, according to …