International

The world’s largest crude exporter, Saudi Arabia, has raised the price of its flagship grade to Asia by more than expected amid high volatility in international oil prices amid the escalating conflict in the Middle East. Saudi Aramco in the weekend raised the price of its Arab Light grade loading …

The oil market is on edge after tensions between Israel and Iran flared up this week. Fears of an all-out war and an actual disruption to oil supply from the Middle East intensified, pushing oil prices higher. As the world awaits the Israeli response to the Iranian missile attack on …

Turkey has dispatched its seismic research vessel Oruc Reis to Somalia following the oil and gas cooperation deal signed early this year. This is the first intercontinental mission for the vessel since it was commissioned in 2017, significantly expanding Turkey’s exploration capabilities. In a ceremony to send off the vessel …

Libya is focusing on developing its renewable energy potential, particularly solar and wind power, to reduce its dependence on oil and enhance energy security. The country’s renewable energy efforts are supported by international partnerships with organizations like the EU, UNDP, and countries like Italy. Despite facing political challenges and a …

After facing huge hurdles in oil and gas production, Libya is now striving to develop its renewable energy capacity and diversify its energy mix to establish greater energy security. Over the last decade, Libya has worked hard to get its oil industry back on track in the face of major …

Global stocks dipped as European and Asian share indexes broadly retreated on Thursday, while oil prices rose further as markets weighed the risk of a widening Middle East conflict. Euro zone stocks were last down 0.8 per cent, as investors digested weak business activity survey data from the bloc, while …

Germany hasn’t decided yet if it would support the EU’s plans to officially introduce tariffs on electric vehicles imported from China, the chief economic adviser of German Chancellor Olaf Scholz told Bloomberg TV on Tuesday. The EU earlier this year imposed provisional tariffs of up to 36% on EVs imported …

Nigeria’s government is set to approve within days the proposed $1.3-billion sale of ExxonMobil’s shallow water assets to local firm Seplat, Nigerian President Bola Tinubu said on Tuesday. The U.S. supermajor announced two years ago its intention to sell its shallow water business in Nigeria to Seplat, the biggest Nigerian …

The International Court of Justice (ICJ) in The Hague on Monday began hearings in a dispute between OPEC’s African members Equatorial Guinea and Gabon over several small islands in an area in the Gulf of Guinea thought to contain significant oil resources. The dispute, running for around 50 years, is …

Petroleum product exports from India have soared to the highest level in two and a half years as maintenance season in Europe is stoking demand for fuels from other sources. Indian exports of fuels such as gasoline, diesel, and jet fuel, soared by 39% in September compared to a year …