International

Volkswagen Group’s electric transition is continuing at a good pace. Its pure electric (BEV) sales were up nearly 50% in the first six months of 2023 compared to the first six months of 2022. They grew from 217,200 to 321,600. Furthermore, there are another 200,000 or so BEV orders on …

The ongoing closure of several oilfields in Libya has cost the North African country the production of 340,000 oil barrels, oil minister Mohamed Aoun told Dubai-based Asharq TV. Production at the El Feel, Sharara and 108 oilfields was shut on Thursday in a protest by the Al-Zawi tribe against the …

Iraq’s oil production may be impacted by a recent agreement to pay for Iranian gas imports through a barter deal involving fuel oil and crude oil from Baghdad, according to a state oil marketing company SOMO source. Iraqi Prime Minister Muhammad al-Sudani announced the deal to solve difficulties in paying …

The European Union is asking European aluminum and zinc manufacturers whether they can produce key chip metals gallium and germanium as byproducts in their smelters as it seeks alternatives after China imposed export restrictions. Last week, China sent shockwaves through the supply chain and chip markets after announcing export controls …

Kyrgyzstan remains among the five countries in the world with the lowest prices for liquefied petroleum gas (LPG) as of mid-2023, Trend reports. According to the Global Petrol Prices, the average price of LPG in Kyrgyzstan was $0.34 per liter from March 27, 2023, through July 3. The prices remained …

Iraq’s parliamentary oil and gas committee plans to increase the country’s oil production to more than five million barrels per day, according to the release of committee minutes last week. As analysed in full in my new book on the new global oil market order, not only could this be …

China approved on Tuesday proposals that would transform its oil, gas, and power markets, CCTV has reported. Under the proposals, China will construct a new power system intended to be “economically efficient, flexible and intelligent in supply and demand coordination,” the Chinese Communist Party’s commission for deepening reports said. Currently, …

Nigeria currently accounts for 33 per cent of the total gas reserves in Africa, the Federal Government said on Monday. While disclosing this through the Nigerian Upstream Petroleum Regulatory Commission, it added that the gas reserves in Nigeria could last for about 94 years. The Chief Executive Officer, NUPRC, Gbenga …

The value of Kazakhstan’s exports of fossil fuels and related materials to the EU increased by 65.15 percent in 2022 compared to 2021, Trend reports. According to Eurostat, the statistical office of the EU, in 2022, Kazakhstan exported fossil fuels and related products to the EU worth 26.1 billion euros, …

DNO ASA, the Norwegian oil and gas operator, today announced a significant gas and condensate discovery on the Carmen prospect in the Norwegian North Sea license PL1148 in which the Company holds a 30 percent interest. Preliminary evaluation of comprehensive data, including cores and fluid samples, acquired from the discovery …