International

One of the few renewable energy sources that the Trump administration has not yet criticised is geothermal power, as companies across the United States continue to develop innovative geothermal projects with financial support from Biden-era policies. The sweeping budget legislation that President Trump signed in July preserved most key tax …

China vowed on Friday to protect the rights and interests of Chinese companies after the U.S. unleashed on Thursday a new sanctions package on Chinese entities for importing crude oil from Iran. The U.S. Treasury on Thursday blacklisted around 100 individuals, vessels, and companies—including China’s Shandong Jincheng Petrochemical Group, a …

Exxon is considering a return to Iraq after leaving the country two years ago, Bloomberg reported, citing an unnamed source who said Exxon was interested in developing the massive Majnoon field. The Majnoon field has estimated reserves of 38 billion barrels, which makes it one of the biggest in the …

The EU plans to impose sanctions on three companies that have provided false flags to tankers of the Russian shadow fleet, Bloomberg reported on Tuesday, citing documents it has reviewed. The companies have provided false flags of Aruba, Curacao, and Sint-Maarten to at least eight tankers sanctioned by the EU, …

Argentina’s prized shale basin Vaca Muerta, once hailed as the key to transforming the country into a global energy exporter, is now facing a period of stagnation and uncertainty. Lower oil prices, rising costs, and policy constraints have slowed drilling and fracking, raising questions about whether the formation can deliver …

China is building new oil storage sites as it stockpiles crude while it is cheap. This year and next will see a total of 11 new storage sites built across the country, Reuters reported today, noting that the combined capacity of the new sites would come in at some 169 …

More crude oil from Russia has become available for Indian refiners as Ukrainian drone attacks have reduced the Russian refining capacity, an Indian government official Reuters on Monday. Since the Russian invasion of Ukraine, India has relied on the discounted Russian crude banned in the West to reduce its crude …

Denmark is intensifying inspections on oil tankers passing through its waters, which are the gateway to and from the Baltic Sea, in a move to counter Russia’s shadow fleet movements. The Danish authorities are stepping up environmental checks on older tankers passing through its straits, the Environment Ministry said on …

Copper futures on the London Metal Exchange rose above $10,500 a ton – the highest since May 2024 – driven by a mix of investing themes, macro tailwinds, and worsening supply outlook. Freeport-McMoRan’s (FCX) recent force majeure declaration at Indonesia’s giant Grasberg mine, the world’s second-largest copper source, adds to …

India’s biggest state-owned oil companies seek long-term supply of liquefied petroleum gas (LPG) from the United States for the first time, according to tender documents Bloomberg has reviewed. Indian Oil Corporation, Bharat Petroleum Corporation Limited (BPRL), and Hindustan Petroleum Corporation Limited (HPCL) are seeking long-term deals with the U.S. for …