International

Kazakhstan has secured approval from Russia to use its pipeline infrastructure to transport 300,000 tons of oil to buyers in Germany in the first quarter of this year, a state-run company announced on January 13. Kaztransoil, a state-owned oil transportation company, said in its statement that oil sourced from the …

The Organization of the Petroleum Exporting Countries increased its December production, according to the most recent Monthly Oil Market Report published on Tuesday. OPEC-13’s average December production rose by 91,000 barrels per day, according to the MOMR, to 28.971 million bpd, with nearly all of the gains coming from Nigeria. …

India’s power utilities will likely boost coal imports this year to cope with surges in demand, made worse over the past year by extreme temperatures, and with freight bottlenecks that are disrupting domestic coal supplies, analysts and officials said. A steady rise in industrial electricity use in recent years has …

India’s imports of Russian crude oil hit a record high of 1.2 million barrels per day (bpd) in December, as deep discounts on Russian crude when the price cap entered into force made India the top destination for Russia’s oil, ahead of China, Bloomberg reported on Monday, citing data from …

The energy shortages plaguing Europe’s largest economy since 2021 have affected its attractiveness as an investment destination. According to a report in the German daily Augsburger Allgemeine, Germany now ranks 18th out of 21 countries, falling four places in the ranking produced by the German economic research institute ZEW, Reuters …

China’s oil consumption is expected to jump by 800,000 barrels per day (bpd) this year to a record 16 million bpd, after Beijing abandoned the strict ‘zero Covid’ policy and re-opened its borders, a median estimate of 11 China-focused consultants polled by Bloomberg News showed. Following the initial exit Covid …

U.S. oil majors Exxon Mobil Corp and Chevron Corp—along with France’s TotalEnergies, are taking a long, hard look at upping their investments in India’s oil and gas exploration and production sector, India’s oil minister said in a Friday speech, carried by Reuters. ExxonMobil said back in December that its 2023 …

A Libyan court has suspended a deal for offshore oil and gas exploration that Libya and Turkey inked last year, a deal that sparked outrage from neighbors Egypt and Greece. The deal concerned waters that Libya and Turkey have declared to be theirs but that are disputed by Egypt and …

The new Karbala refinery south of Baghdad is expected to reach full 140,000 barrels per day (bpd) capacity by July this year, a source at the facility told Reuters on Tuesday. The Karbala refinery, estimated to have cost just over $6 billion, is expected to begin commercial production of fuels …

Although the U.S. marked an historic shift in 2020 by becoming a net exporter of petroleum, it has remained a net importer of crude oil since the end of the Second World War, according to Energy Information Administration (EIA) data. For the relatively uninitiated, which appears to include Saudi Arabia …