International

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% …

On April 10, Azerbaijani President Ilham Aliyev paid a one-day official visit to Kazakhstan (President.az, April 10). This visit took place about six months after the first official visit of Kazakhstani President Kassym-Jomart Tokayev as the head of state to Azerbaijan in August 2022 (The Astana Times, August 24, 2022). …

Equinor Energy and its partners have started production from the Bauge oil and gas field in the southern Norwegian Sea, which has been developed with an investment of NOK4.6bn ($438.2m). Bauge is tied back to the Equinor-operated Njord platform, which went through an upgrading project that was completed in December …

Turkey is considering petitioning a federal court in the United States to enforce an arbitration award amounting to hundreds of millions of dollars that it won against Iraq, amid a dispute over crude oil exports Ankara received from Iraq’s autonomous northern Kurdish region. Almost nine years after Iraq began suing …

Just as the EV price wars are heating up, Volkswagen has launched its much awaited ID7 sedan. Expected to be priced around $38,000 to $40,000 for the entry level model, the stunning sedan will assuredly be a direct competitor to Tesla’s Model 3. A release by the company on Monday …

The Organisation of Petroleum Exporting Countries (OPEC) says global primary energy demand is forecast to increase by 23 per cent in the period to 2045, which necessitates utilising all forms of energy. The OPEC said based on its World Oil Outlook (WOO) forecast, resultantly, many of its Member Countries had …

Last month, Russia managed to bring its crude oil exports back to pre-war levels. This is stated in the April report by the International Energy Agency, Ukrinform reports. “Russian oil exports in March soared to the highest since April 2020 thanks to surging product flows that returned to levels last …

Cost inflation and increased competition to secure long-term buyers and financing could hold back some of the more than a dozen proposed LNG export projects in the United States. Demand for LNG globally is currently high, as European countries rush to build import terminals and purchase liquefied natural gas to …

Oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorised exports. The March 23 arbitration ruling by the International Chamber of Commerce (ICC) ordered Turkey to pay Baghdad damages of $1.5 …

OPEC+’s recent announcement of new output cuts this year will deepen an expected supply deficit in the second half of the year and risks higher prices as China’s economic rebound continues to drive growth, the International Energy Agency said April 14. OPEC+ on April 2 announced a surprise “precautionary move” …