International

Oil India Limited (OIL), the state-owned oil and gas explorer, has $300 million in dividends from its stakes in Russian oilfields stuck at Russian banks and unable to withdraw, due to last week’s U.S. sanctions that hit the Rosneft-operated fields. The U.S. sanctions on JSC Vankorneft and Taas-Yuryakh Neftegazodobycha LLC …

Iraq is in discussions with OPEC to review its oil production quota as output capacity rises, Hayan Abdul Ghani, the Oil Minister of OPEC’s second largest producer, said on Monday. Iraq is in talks with OPEC to reassess its production quota within the country’s available production capacity of 5.5 million …

China announced a green hydrogen policy last week, which will see the country’s state budget offer subsidies for the production of green fuels. Interestingly, the initiative came in the week that IMO member states failed to adopt a Net-Zero Framework for the global shipping industry. China’s National Development and Reform …

Kazakhstan will keep the freeze on fuel prices at least until the spring of 2026, Kazakh Economy Minister, Serik Jumangarin, said on Wednesday. Last week, Kazakhstan introduced a freeze on fuel prices in an attempt to curb runway inflation. The government also introduced a moratorium on further increases of utility …

An auto supplier that manufactures electrified propulsion systems, among others, has closed a factory in Detroit because of the drop in demand for electric vehicles. In a statement cited by CBS, Dana Inc. said that the closure decision was the result of an “unexpected and immediate reduction in customer orders …

For decades, Canadian oil exporters have only had one destination: south of the border. Yet things are changing. There’s a new big buyer in town, and it’s buying a lot: China. Canadian crude oil flows abroad began to change direction earlier this year, after the trade dispute ignited by U.S. …

Japan will base any decisions about energy imports on its national interests, the country’s trade minister Yoji Muto has said, following suggestions from the Trump administration that Japan suspends all purchases of Russian oil and gas. “Since the invasion of Ukraine, Japan has been steadily reducing its dependence on Russian …

Venezuela is betting on coal to jumpstart its resource economy and exports amid increasing sanctions on its oil industry with few exemptions in the form of waivers. At the end of 2024, a Venezuelan-Turkish joint venture restarted coal production at two mines in northwestern Venezuela – Paso Diablo and Mina …

China’s incredible pace of clean energy spending has made the world’s second-largest economy the single-largest producer of clean energy by a long shot. This dominant position in global energy markets doesn’t just stem from domestic production capacity, but from increasingly significant control of global supply chains for clean energy technologies …

India hasn’t requested refiners to cut imports of Russian crude oil and no cuts have been seen for the already placed nominations for loadings in November, Indian industry sources told Reuters on Friday, after the U.S. claimed refiners had stared to reduce Russian supply. U.S.-Indian talks in Washington this week …