International

Japan’s industry ministry said on Monday it will hold an auction on Feb. 9 to sell about 100,000 kilolitres, or 628,980 barrels, of crude oil from its national reserve as a part of a U.S.-led coordinated release of oil reserve to cool rising prices. The supply, to be taken from …

Saudi Arabia’s exports soared in October as the world’s biggest oil exporter benefited from higher crude prices. The value of exports jumped to 106.2 billion riyals ($28 billion) from 55.9 billion riyals a year ago, according to the kingdom’s General Authority for Statistics. The share of oil in total exports …

Despite its decreased appetite, U.S. imports of crude oil from Iraq jumped to 359 thousand barrels per day (bpd) last week, the Energy Information Administration (EIA) said this weekend. In its weekly report on U.S. oil imports, EIA said that the U.S. imports averaged 5.234 million bpd this week, down …

Iraq collectively grossed more than eight billion dollars from oil sales last November, according to a survey by the state oil marketer, SOMO. Crude oil exports amounted to 98,192,317 barrels, yielding 7,610,850,000 dollars, SOMO survey said. Exports from oilfields in mid and south Iraq were 95,860,149 barrels, while Kirkuk oilfields, …

The US is set to boost its liquefied natural gas (LNG) capacity, once two new liquefaction units become operational late next year. This would enable the country to overtake Australia and Qatar as the world’s top LNG exporter. The US Energy Information Administration expects the country’s LNG export capacity to …

China’s oil giant Sinopec on Tuesday released a report about the company’s participation and growth in Russia which deepens ties with China on energy cooperation, a key sector following global energy crunch in tandem with climate change crisis. The report focuses on sustainable development of Sinopec in Russia and its …

OPEC+ compliance with oil production cuts stood at 117% in November, up from 116% the previous month, two sources from the group told Reuters, indicating the group’s production levels continue to be below agreed targets. Compliance from the 10 OPEC countries participating in the production cuts reached 122%, with participating …

Turkmenistan and India discussed the construction of a transnational gas pipeline Turkmenistan-Afghanistan-Pakistan-India (TAPI), Trend reports citing the Foreign Affairs Ministry of Turkmenistan. Subrahmanyam Jaishankar, Foreign Minister of India, and Rashid Meredov, Foreign Minister of Turkmenistan, met in New Delhi on December 19 to discuss joint actions to implement the TAPI …

Energy companies Engie and Equinor have announced the H2BE project which aims to develop production of low-carbon hydrogen from natural gas in Belgium. The Belgian federal government released its Hydrogen Strategy in late October and the H2BE project will help Belgium deliver on the strategy. The project aims at producing …

Egypt is joining the Middle East’s push to adopt electric cars, tasking a state-owned company to build affordable vehicles with a Chinese firm while taking advantage of its renewable energy boom to power them. Authorities are in contact with three potential companies as they seek a partner for El Nasr …