International

The U.S. and its key allies on the West and the East continue to tighten the noose around Russian exports of oil and gas and with them, the ability to finance its ongoing invasion of Ukraine and to support Iranian attempts to widen the rolling Israel-Hamas War. Several new agreements …

The State of Qatar has been keen to build a solid and ambitious economy that deals with reality and looks to the future with confidence and competence. The State has supported national efforts aimed at promoting and expanding Qatari industries, in a way that contributes to achieving self-sufficiency for the …

In the face of international scrutiny, India has staunchly defended its substantial purchases of Russian crude oil since the onset of the Ukraine war. A recent report from a parliamentary panel highlighted that all import deals were executed within the scope of Western sanctions imposed on Moscow for its involvement …

China has eclipsed Russia as the main trade partner of all five Central Asian states, according to official statistics. Kazakhstan is the most recent Central Asian country to see Beijing pass Moscow in terms of annual trade turnover. For the first nine months of 2023, China accounted for a 21.3 …

Refining margins for diesel in Northwest Europe end this year 40% below the levels from the end of 2022, despite the EU ban on seaborne imports of Russian petroleum products that came into effect in February 2023. Europe has imported more diesel from the Middle East and Asia this year …

The first batch of fuel export quotas that China has issued for 2024 is basically unchanged from the first batch of allowances for 2023, Chinese consultancies and trading sources told Reuters on Friday. Chinese refiners are allowed to export diesel, gasoline, and jet fuel under strict quota regulations, with allowances …

OPEC could potentially face further loss of market share in early 2024 following the recent departure of Angola, weakening demand and rising output by non-OPEC producers, Reuters claims, based on its own calculations. Reuters reports that OPEC’s production is set to slip below 27 million barrels per day (bpd) without …

U.S. crude oil production has overwhelmingly exceeded earlier forecasts and has grown at a much faster pace this year, offsetting much of the OPEC+ efforts to push up prices by coordinated supply reductions. U.S. production growth is expected to continue into the new year, thanks to further gains in efficiency …

Chinese state energy giants plan to ask the United States for exemptions from the fresh sanctions on Russia’s Arctic LNG 2 project in a rare request to the U.S. as LNG deliveries could be threatened, Bloomberg reported on Friday, citing sources familiar with the issue. The U.S. imposed last month …

The U.S. set a new annual oil production record on December 15, based on data from the Energy Information Administration. Although the official monthly numbers from the EIA won’t be released for a couple of months, we can calculate that a new record has been set based on the following …