International

In its effort to shore up global oil markets, OPEC+ is pushing members to atone for cheating on their supply quotas. Yet there’s little indication that they’re repenting. Iraq and Kazakhstan — members of the OPEC+ coalition that is paring crude output to defend prices — have pledged extra curbs …

The Kingdom of Saudi Arabia has discovered seven oil and gas deposits in the Kingdom’s Eastern Province and Empty Quarter, the Saudi Press Agency reported. According to SPA, Prince Abdulaziz bin Salman, energy minister announced the discovery on Monday, citing that Saudi Aramco had discovered two unconventional oil fields, a …

China has included a Tesla model for the first time in its list of cars the government and party can use as a service car, according to Chinese media. Tesla’s Model Y can now be purchased by government, party, and public organizations in the new batches of new energy vehicle …

China’s government this week made a decisive step towards developing more of the country’s oil and gas reserves, including unconventional ones. A new umbrella company grouping all the state majors will drill for ultradeep oil and gas, and explore shale formations. Given China’s standing as a top wind and solar …

Via Metal Miner Sources said that steel manufacturing entities in northern Europe are unlikely to seek price increases on hot rolled coil until July, despite events since May that could create conditions to raise them. “If you do that, you seem very opportunistic,” one source told MetalMiner. Mills were seeking …

Iraq has secured the 19th spot among countries with the cheapest gasoline prices worldwide, according to the June 2024 Global Petrol Prices report. The report, compiled by the international fuel and energy pricing website, indicates that Iraq’s gasoline is priced at a competitive $0.649 per liter. Notably, Iran tops the …

The German government has recently transferred a substantial amount of Bitcoin to centralized exchanges, fueling market discussions and speculations. According to data from blockchain analytics firm Arkham, the German Federal Criminal Police Office (BKA) moved another 250 BTC to exchanges such as Kraken and Coinbase. This Bitcoin is worth about …

The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 7 to 581 this week, compared to 674 rigs this same time last year. The …

China Three Gorges Renewables plans to invest $11 billion (80 billion Chinese yuan) in a huge integrated power project in China with solar, wind, and coal power capacity plus a storage facility. China Three Gorges Renewables, a unit of the biggest hydropower producer in the country, China Three Gorges, plans …

In a significant rebound, Russia’s oil and gas revenues for June are projected to increase by over 50% year-on-year, reaching $9.4 billion, according to new Reuters calculations. This surge comes after a reduction in refinery subsidies, highlighting Russia’s resilience in the face of Western sanctions aimed at its energy sector. …