International

Libyan company Zallaf Oil and Gas has shipped the first export cargo from the Chadar oil field, at 600,000 barrels. Production at the field started in January this year from five wells, Reuters reported, citing the company, which is a subsidiary of the National Oil Corporation. When production started, it …

The surplus on the oil market next year will be even higher than previously expected, the International Energy Agency (IEA) said on Thursday, as it raised both its demand and supply growth estimates. “Global oil market balances are looking increasingly lopsided, as world oil supply is forging ahead while oil …

China will aim to use more renewable energy such as green hydrogen and green ammonia to avoid curtailments of solar and wind power whose soaring capacity sometimes boosts clean power generation beyond the limits of the grids. China will promote and support the use of renewable energy beyond the electricity …

The International Energy Agency has dropped its predictions that oil demand growth will peak in a matter of a few years. In the latest edition of its World Energy Outlook, the IEA said oil and gas demand could continue growing until 2050. The IEA said that the coming years and …

China is encouraging private investment in state-led major energy and infrastructure projects and could allow private investors to have more than 10% in certain projects, the government said in a landmark directive aimed at boosting investment and reinvigorating the economy. The projects open to minority private shareholding will need state …

Norway’s $2.1-trillion oil fund is looking to invest in renewable energy assets in the U.S. and expand its clean energy portfolio in Europe, a senior executive at the world’s largest sovereign wealth fund told Bloomberg in an interview published on Monday. The fund has recently hired three people in New …

One of Europe’s automotive manufacturing powerhouses, Slovakia, has been hit hard by tariffs and increased competition, which are threatening its role in the global auto market. Since the creation of the Bratislava Automobile Works (BAZ) in the 1970s, Slovakia has gradually developed its reputation as a major automotive manufacturer. It …

Saudi Arabia’s Vision 2030 national development strategy establishes the aim of economic diversification, as the government seeks to reduce its reliance on fossil fuel revenues by expanding other economic sectors. In addition to drawing revenue from growing industries, such as construction, ICT, and tourism, the government is encouraging greater energy …

Iraq Prime Minister Mohammed Shia Al Sudani has directed his ministry to halt imports of middle distillates such as gasoline, diesel and kerosene, claiming his country has achieved self-sufficiency through increased oil production coupled with ongoing additions of refining capacity. Iraq has ramped up oil production and exports, partly through …

Canada’s Liberal government on Tuesday proposed a C$2 billion ($1.4 billion) sovereign fund for critical minerals, alongside hundreds of millions in new mining industry spending and an expansion of exploration tax credits, according to the federal budget released on April 1. The initiative aims to bolster domestic supply chains, attract …