International

Germany is projected to record greenhouse gas emissions this year since 1990 as the economy recovers from a downturn, according to a report by the environmental think tank. Berlin-based Agora Energiewende said the country’s emissions are likely to rise by the equivalent of 47 million tons of carbon dioxide. This …

India aims to wind down energy imports in the next 25 years and invest 100 trillion rupees ($1.35 trillion) in infrastructure to boost economic growth, Prime Minister Narendra Modi said Sunday, laying out national priorities on the country’s 75th Independence Day. “For India to be self-reliant it is imperative that …

U.S. imports of crude oil from Iraq averaged 120,000 barrels per day (bpd) last week, the Energy Information Administration (EIA) said on Sunday, despite a slight decrease in its appetite during the same period. In its weekly report on U.S. oil imports, EIA Said that the U.S. imports averaged 5.423 …

OPEC+ is unlikely to respond with increased production to the U.S. calls amid the surging Delta variant, which is set to dampen short-term oil demand, Goldman Sachs says. Earlier this week, the White House called on the OPEC+ group to increase oil production more than they had planned in order …

US President Joe Biden’s calls for OPEC+ to pump more oil may be short-lived as political pressure eases along with gasoline prices over the coming months. US gasoline prices rose 2.4 percent in July from the previous month, taking their 12-month advance to 41.8 percent, according to inflation data. The …

China’s oil demand is expected to be 1 million barrels per day (bpd) lower in the next two months than previously expected due to the rising number of COVID cases in the world’s top crude importer, Goldman Sachs says. Still, the overall hit to global oil demand will be more …

The National Oil Corporation (NOC) said that oil production at Libya’s Gallo field will drop by about 70,000 barrels per day, after an oil pipeline leak that occurred yesterday. The corporation said in a statement that this reduction process will enable engineers to control the leakage of the 30-inch line, …

Iraq plans to increase oil production to eight million barrels per day (BPD) by the end of 2027, Iraqi Oil Minister Ihsan Abdul Jabbar told the Iraqi news agency (INA) on Tuesday. The oil ministry’s spokesman, Assem Jihad, also told INA that oil-producing countries reconsidered their plans because of the …

China has switched from driving global demand for major commodities to being a drag on growth, with July’s customs data confirming the weakening trend for imports of crude oil, iron ore and copper. The exception to the trend was coal, but the sharp gain in July’s imports of the polluting …

Construction of the Nord Stream 2 gas pipeline is at its final stage, it will be completed in a matter of weeks, Russian ambassador to Germany Sergei Nechaev said in an interview published by the Izvestia newspaper on Monday. “We proceed from the fact that the German-American agreement will not …