International

Indian state-held refiner and fuel retailer Bharat Petroleum Corporation Ltd (BPCL) is in discussions with suppliers to swap a Middle East cargo with liquefied petroleum gas (LPG) with cheaper supply from the United States, the refiner’s head of finance, Vetsa Ramakrishna Gupta, said on Friday. “We are approaching suppliers. We …

Drilling in the U.S. shale patch is starting to slow down amid weaker oil prices and cost uncertainty stemming from the tariff war. Smaller producers are suspending new drilling in anticipation of a turnaround. Perhaps larger producers will follow. The question now is how long until that turnaround. A month …

Economic activity across the South Caucasus and Central Asia is projected to stagnate over the next two years, as uncertainty envelops global markets, according to World Bank experts. The bank’s latest Europe and Central Asia Economic Update identifies the most serious challenges facing policymakers in the regions as weaker-than-expected trade, …

A massive and sudden power outage swept across the Iberian Peninsula this afternoon, plunging vast swathes of Spain and Portugal into darkness and triggering significant disruptions to critical infrastructure and essential services. The blackout, which commenced at approximately 12:00 PM GMT, has impacted major urban centers and transportation networks, leaving …

Kazakhstan has sparked fresh tensions within OPEC+ by asserting that its oil production strategy will be governed by national interests rather than group quotas, raising questions about future compliance and cohesion within the cartel. Kazakh Energy Minister Erlan Akkenzhenov told Reuters on Wednesday that the Central Asian producer, which pumps …

Saudi Arabia’s economy is set to grow by 3.0% this year, a rebound from meager 1.3% growth in 2024, but lower than a previous forecast of 3.3% GDP growth, the International Monetary Fund (IMF) said in its World Economic Outlook (WEO) Update on Tuesday. Saudi growth for 2026 was also …

Saudi Arabia’s crude oil exports jumped by nearly 500,000 barrels per day (bpd) in February compared to January, the latest data from the Joint Organizations Data Initiative (JODI) showed on Tuesday. Crude exports from the world’s biggest crude exporter averaged 6.547 million bpd in February, up from 6.073 million bpd …

Australia has been developing its critical mineral sector in recent years, aiming to become a major producer and processor of the high-demand minerals and metals needed to support a global green transition. In addition to launching a national strategy and providing billions in funding for the sector, the government recently …

Iraq’s crude and oil product exports fell by 110,000 barrels per day (bpd) from a year earlier to 3.7 million bpd in the first quarter of 2025, per data from Energy Research Unit cited by Shafaq News. The 3% drop in exports came as OPEC’s second-largest producer continues to restrict …

The United States will abandon efforts to broker a Russia-Ukraine peace agreement if progress isn’t made very soon and unless clear signs emerge that a deal can be reached, U.S. Secretary of State Marco Rubio said on Friday. “We’re not going to continue with this endeavour for weeks and months …