International

Japan has confirmed new construction work by China that is suspected to be for gas field exploration, in a contested area of the East China Sea for the second time in about a month. The Foreign Ministry said it has lodged a protest with the Chinese Embassy in Tokyo, after …

A 650,000-barrel-cargo of Venezuela’s oil chartered by Italy’s Eni is about to set sail carrying the first export of crude from the US-sanctioned country to Europe in two years, Refinitiv Eikon data showed on Friday. The US State Department sent letters to Eni and Spain’s Repsol in May authorizing them …

India imported six times as much Russian coal in the 20 days leading up to Wednesday as it did in the same period last year, Reuters reported on Saturday. During that same timeframe, New Delhi’s imports of Russian oil increased by a factor of more than 31. This increase comes …

The number of total active drilling rigs in the United States rose by 7 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 740 this week—270 rigs higher than the rig count this time in 2021, but insufficient to ease market …

Delegates from OPEC+ are trying to decide what to do when the oil production pact ends in, Bloomberg reported on Friday. The pact is faced with numerous uncertainties and difficult situations—not the least of which is its relationship with one of the top members of the group—Russia. Saudi Arabia has …

Russia has blamed Western sanctions for its decision to curb gas supplies to Europe in a move Germany said was politically motivated. Gazprom, Moscow’s state-backed energy giant, announced yesterday it would slash gas deliveries through a key European pipeline by 20pc, a day after announcing a 40pc cut to the …

Asian liquefied natural gas buyers are ratcheting up competition with Europe to secure spare supply as a series of outages threatens a shortage this winter. A new timeline presented on Tuesday to restart a key US liquefied natural gas export plant was much longer than traders had anticipated, while lower …

Libya’s Oil and Gas Minister Mohammed Oun has said that oil production in the county is now down to 100.000 barrels per day (bpd) from 1.2 million bpd, according to Stephen Innes, managing partner at SPI Asset Management, who was reported by Reuters. Innes said discussion within the oil complex …

China’s first self-developed subsea Xmas tree system has successfully been put into operation in the South China Sea on Tuesday, a key breakthrough in China’s domestic technical equipment for deepwater oil and gas development, China National Offshore Oil Corporation (CNOOC) said on Tuesday. The tree system is believed to be …

The U.S. crude imports from Iraq averaged 196 thousand barrels per day (bpd) last week, the Energy Information Administration (EIA) said this weekend. In its weekly report on U.S. oil imports, EIA said that the U.S. net oil imports averaged 5.497 million bpd last week, down by 64 thousand bpd …