International

Oil supermajors returned more cash to shareholders than ever before last year as management teams reined in spending on new projects to free up cash for dividends and buybacks. There may be more to come. Exxon Mobil, Chevron, Shell, TotalEnergies and BP spent $113.8 billion on 2023 dividends and share …

South Korea’s electric vehicle (EV) sales fell by 0.1% last year for the first annual decline since 2017, as drivers cite fears of batteries catching fire and insufficient number of chargers as key obstacles alongside higher interest rates and high prices. South Korean drivers are concerned that their future EVs …

There are big plans for the production of critical minerals to meet the rapidly growing demand as the world undergoes a green transition. Governments are starting to work together to develop their sustainable mining capabilities and ensure that they produce enough metals and minerals to respond to global needs. To …

The Iraqi Ministry of Oil confirmed on Friday that oil export revenues through January surpassed $8.025 billion. According to row data issued by the State Organization for Marketing of Oil (SOMO), the total exports of crude oil during January were slightly more than 103.5 million barrels, with revenues reaching $8,025,616. …

Amid rising Red Sea shipping risks due to attacks on vessels from Yemen’s Houthis, Saudi Arabia has increased exports from its northern Red Sea terminal to avoid the danger zone, according to Bloomberg and Reuters. Oil exports from Saudi Arabia’s Muajjiz terminal saw a 580,000-barrel-per-day increase in January, based on …

In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more than five million barrels per day (bpd) since the end of 2022. In 2022, Russia’s invasion of Ukraine sent oil prices soaring to $140, raising earnings across the industry. In …

India is set to launch a carbon capture policy that it says will allow it to keep exploiting its vast coal resources and deal with its growing emissions, according to to a top government energy adviser. The policy is expected to be unveiled later this year – should Prime Minister …

After wrapping up the political section of his recent working trip to China, Uzbekistan’s President Shavkat Mirziyoyev took the long way home from Beijing by passing through the southern city of Shenzen. He traveled there to visit the headquarters of leading Chinese automaker BYD, which has just overtaken Elon Musk’s …

It’s not just the US that is in desperate need of refilling its strategic oil reserve after Biden drained it to score some quick political points ahead of the 2022 midterms. China also needs to refill its oil tanks after steadily drawing on those stockpiles for much of 2023… but …

Uzbekistan and China have set their sights on increasing their trade turnover to $20 billion “in the near future,” following high-level negotiations in Beijing on January 24 between Uzbek President Shavkat Mirziyoyev and Chinese leader Xi Jinping. Bilateral trade in 2023 hit the $14 billion mark. A statement on the …