International

The European Union has taken a significant step towards ensuring affordable, efficient, and clean energy for its citizens through its newly announced Action Plan for Affordable Energy. The plan, revealed on February 26, 2025, by European Commission President Ursula von der Leyen, is designed to highlight the true value of …

Saudi Arabia just dialed back its crude prices for Asia, according to Aramco’s just-published rate sheet. The company has trimmed official selling prices (OSPs) for the first time in three months, with Aramco’s April price sheet now showing Arab Light at $3.50 per barrel over Oman/Dubai, a 40-cent cut. That’s …

Brazil looks to boost its economy with money from its $3.5-billion social fund, which collects revenues from oil and gas exploration and production, as approval ratings of President Luiz Inacio Lula da Silva have slumped to a record low. Inflation and most of all rising food prices have sapped the …

The world’s biggest sovereign wealth fund, Norway’s $1.8 trillion oil fund, has made its first investment in an external hedge fund with long-short strategies, amid changing and volatile markets, a top executive of the fund’s manager told the Financial Times. The fund, which is commonly referred to as ‘Norway’s oil …

China is going to boost coal production and power generation despite plans to boost its wind and solar capacity as well, signaling hydrocarbons remain an essential source of reliable electricity. In a report released today and quoted by Reuters, the Chinese authorities also said they were going to change the …

Europe has been steadily ramping up its wind energy capacity in a bid to support a green transition and reduce its reliance on fossil fuels. In the last quarter of 2023, the region succeeded in producing more power from wind than coal for the first time, and it has since …

India’s crude oil imports from Iraq increased in February 2025, according to data from analytics firm Kpler. India’s oil imports from Iraq increased 8.3% this month compared to January, surpassing 1.1 million barrels per day (bpd), the data showed. Conversely, imports from Russia reportedly fell by 14.9% to an average …

Despite assurances from the federal Iraqi government that the resumption of oil exports from Kurdistan is imminent, the foreign oil firms operating in the semi-autonomous Iraqi region said on Friday they would not be resuming oil exports today. Last week, Iraq’s Oil Minister Hayyan Abdul Ghani said that Iraq and …

The U.S. sanctions on Russia’s oil trade have led to a slump in Indian imports of Russian crude, which have plunged to a two-year low in February, per data from analytics firm Kpler cited by Bloomberg. Since the Russian invasion of Ukraine and the bans on Russian oil in the …

A massive reshuffle of tankers allows non-sanctioned vessels to pick up trade with Russian and Iranian oil, which will result in a rebound in China’s imports of cheaper crude from the two producers in March, from a two-year low in February, analysts and traders tell Reuters. The Biden Administration’s farewell …