International

Libya’s state energy firm said it expects to sign more deals with foreign companies after Eni SpA agreed to invest $8 billion to extract natural gas in the North African country. Libya’s abundance of oil and gas reserves — among the largest in Africa — and its proximity to Europe …

Italy is expected to eliminate imports of Russian natural gas by the winter of 2024/2025, Claudio Descalzi, the chief executive of energy major Eni, said on Monday during a visit to Algeria. Italy, one of the biggest buyers of Russian gas in Europe before the Russian invasion of Ukraine, will …

Retail and professional investors expect copper to be the top-performing commodity this year, outperforming gold, corn, and crude oil, according to Bloomberg’s MLIV Pulse survey published on Monday. A total of 45% of retail investors and 36% of professional investors see copper as the best-performing commodity asset this year, compared …

According to sources cited by Reuters, Qatar is in negotiations to acquire a share in the $27 billion cluster of energy projects in Iraq owned by the French multi-energy business TotalEnergies. The Qatari investment is anticipated to help Iraqi Prime Minister Mohammed Al-Sudani, who was elected last year following a …

For now, trade relations between Australia and China are sketchy at best. Therefore, Australia has started looking for other markets to ship commodities like ore and coking coke, one such market being India. However, over the past few months, the world has learned that many Indian steel mills have replaced …

Kuwait’s new Cabinet has resigned amid protests over a planned spending spree of the country’s oil wealth by the Assembly, which some fear would drain state coffers to the point of no return. The Cabinet’s move to resign is meant to hinder the Assembly’s attempts to push through spending bills …

As Asian oil demand increases, Russian crude oil loadings from Baltic ports are on track for a 50% hike from December to January, Reuters reports, citing its own data combined with trader insights. Russian Urals and KEBCO crude oil loadings specifically from the ports of Primorsk and Ust-Luga will experience …

The United Arab Emirates and India are discussing ways to boost non-oil commerce in rupees as the Gulf country looks to strengthen ties with its second-largest trade partner. “We are still in early-stage discussions with India on this dirham-rupee trade,” Thani al-Zeyoudi, the UAE’s Minister of State for Foreign Trade, …

In the background of Azerbaijan’s ongoing blockade of the only road in and out of Nagorno-Karabakh lies the fate of another critical transportation route: the would-be “Zangezur Corridor.” In the ceasefire agreement that ended the 2020 war, Armenia agreed to “guarantee the security of transport connections” between Azerbaijan’s mainland and …

The US-led price cap coalition will place two separate price limits on Russian oil products depending on their category, the US Treasury Department said in a statement on Friday. According to the statement, following a meeting between Deputy Treasury Secretary Wally Adeyemo and deputy ministers representing other G7 countries, EU …