International

The CEO of Qatar Airways said today that the airline is “fighting with oil companies” to produce sustainable aviation fuel (SAF) in order to bring prices down. “We are fighting with oil companies to create the economies of scale to produce SAF in big volumes to bring the price down,” …

Dividends worth $300 million to $400 million to Indian oil companies for their stakes in Russian oil assets are stuck due to sanctions by the US and the west after Kremlin’s invasion of Ukraine, said a person aware of the matter. The dividends are due since last year. Talks are …

India is one of the world’s largest importers of crude oil, and it relies heavily on countries in the Middle East and Russia for its supply. According to Live Mint, India bought $2.03 billion in crude oil from Iraq in February 2023, making it the third largest exporter of crude …

As Tesla announces a new Megapack battery factory in Shanghai, the question arises about which country or region will dominate electric vehicle (EV) production in the coming decades. Tesla also recently announced a major factory in Mexico, and other EV firms have been looking to diversify their manufacturing locations, finally …

China increasingly turned to coal imports during the first quarter to help power its economic recovery from the COVID-19 lockdowns, while its appetite for costly LNG sourced from the global market declined. Following a number of measures to bolster domestic coal production, global receipts and coal-fired power generation going forward, …

For the 1st quarter of this year, China’s iron ore imports hit a Q1 record. Altogether, prices climbed nearly 10% from January to March, reaching 29.3 million tons (MT). Indeed, March alone saw imports grow 1.8% to 100.23 MT. Helping these numbers were expectations of stronger steel demand as the …

Russian Deputy Prime Minister Alexander Novak said on Wednesday that OPEC+, the group of leading oil producers, remains an efficient tool for coordination on global oil markets. The Organization of the Petroleum Exporting Countries and other large oil producers led by Russia have been seeking to cordinate their actions on …

Germany’s fund for climate action and energy security is some $13.2 billion (12 billion euros) short on resources from funds to be allocated by 2026, sources with knowledge of the matter told Bloomberg on Tuesday. Last year, the federal government of Germany moved to create a $195.5 billion (177.5 billion …

Gulf Cooperation Council (GCC) economies will grow at a much slower pace in 2023 than last year as expectations for muted gains in crude prices and oil production cuts take a toll on revenues, a Reuters poll found. Oil prices have spiked nearly 20% since they hit this year’s low …

While the debate about the effectiveness of the Western-led sanctions on Russians continues, China’s imports of Urals-grade Russian crude oil could hit an 11-month high, Reuters said on Monday. China, so far in April, has purchased 265,000 barrels per day of Russian Urals grade crude oil. This is a 36% …