International

Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia’s invasion of Ukraine, the oil ministry said. The second largest producer in the Organization of the Petroleum Exporting Countries (OPEC), Iraq exported “100,563,999 barrels for revenues …

Japan has no plans to withdraw from a joint Russian oil and gas project, despite joining tough sanctions on Moscow over its Ukraine invasion, Prime Minister Fumio Kishida said Thursday. Energy resource-poor Japan is attempting to balance its need for fossil fuels with toeing a hard line on Russia, and …

Poland will strive to stop all Russian oil, gas and coal imports this year, as moves to wean Europe off its dependence on energy supplies from the country over its war in Ukraine intensify. Poland plans to “do everything” to stop importing Russian oil by the end of 2022, Prime …

Saudi Arabia and the United Arab Emirates said the U.S. must trust OPEC+’s strategy, as Washington and other major importers call on the group to hike oil production following Russia’s invasion of Ukraine. Crude prices surged to almost $140 a barrel soon after Moscow’s attack last month, though they’ve eased …

For the time being, India will not pay in rupees for oil from Russia or any other oil exporter, the junior petroleum minister of the world’s third-largest oil importer said on Monday. “At present, oil public sector undertakings neither have any contract nor is any such proposal under consideration from …

Companies in Russia hit by the international sanctions imposed in reprisal for the invasion of Ukraine are increasingly exploring ways to relocate to neighboring countries, including Kazakhstan, according to entrepreneurs working in the export sector. Speaking at a press conference on March 23, Alexander Tsygankov, a representative from KazakhExport, a …

Russian oil exports fell last week, with average shipments of around 3.63 million barrels per day (bpd) between March 17 and 23, down by 26.4 percent compared to the previous week, Bloomberg reported on Monday, citing industry data it had seen. While most Western countries—with the exception of the United …

The United Arab Emirates on Monday urged Western countries to be “reasonable” in their expectations, underlining its commitment to the global OPEC+ energy alliance. The grouping of the 13 members of the Saudi-led Organization of the Petroleum Exporting Countries (OPEC) and their 10 allies, including Russia, is an “alliance to …

The countries of the Group of Seven announced they have rejected the Kremlin’s demands that Russian gas be paid for using Russian rubles, Reuters reported. Last week, Russian President Vladimir Putin suggested that “unfriendly” countries would be required to pay for gas using rubles. “I have decided to implement a …

Jordan and Iraq on Saturday agreed to extend the memorandum of understanding (MoU) under which the Kingdom imports Iraqi Kirkuk crude oil with a daily average of 10,000 barrels delivered to the Jordan Petroleum Refinery in Zarqa. Assistant for energy affairs at the Energy Ministry Hassan Hiari noted that the …