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Indian refiners have begun paying for some oil imports from Russia in Chinese yuan, sources with direct knowledge of the matter said, as Western sanctions force Moscow and its customers to find alternatives to the dollar for settling payments. Western punishments over Russia’s invasion of Ukraine have shifted global trade …

Around 10,000 barrels per day (bpd) is to be added to Iran’s crude oil output, the managing director of the country’s Offshore Oil Company has said. Alireza Mehdizadeh made the remarks on Saturday while visiting the construction process of the A20 and A21 platforms in Khorramshahr, southwest Iran. With the …

China’s imports of liquefied natural gas (LNG) hit 5-month highs in June, but weak demand, especially in Europe, kept a lid on prices. Last month, China imported 5.96 million metric tons of LNG, 28% higher than the 4.64 million the country purchased a year ago and also higher than 5.54 …

The Organisation of Petroleum Exporting Countries(OPEC), is optimistic of oil demand growth in 2024 despite current market slowdown. The organisation will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year but still …

It is “absolutely logical” that Japan’s plan to release treated radioactive water from its Fukushima nuclear plant is attracting great interest in the region, the head of the International Atomic Energy Agency (IAEA), Rafael Grossi, said on Sunday. Grossi also said he understands concerns remain over the plan but added …

Russia has requested a UN Security Council meeting to discuss last year’s explosions at the Nord Stream gas pipelines in the Black Sea, a senior Russian diplomat said on Saturday. Dmitry Polyansky, the first deputy of the Russian envoy to the UN Security Council, said on Telegram that Russia has …

The National Iranian Oil Company (NIOC) is targeting an investment of $250 billion in its upstream, midstream and downstream oil sectors, especially in liquefied natural gas (LNG) industry, over the next eight years. Oil Minister Javad Owji made the statement on the sidelines of the Eighth OPEC International Seminar that …

The chief of the International Atomic Energy Agency (IAEA) said Saturday that there was no internal disagreement among the agency’s team of experts responsible for producing the recently published comprehensive report on Japan’s plan to discharge contaminated water from the crippled Fukushima plant. “There is no disagreement. This is the …

China’s Foreign Ministry has announced that Beijing will continue its attempts to restore the US-abandoned 2015 nuclear agreement “at an early date”. Speaking at a regular press conference on Friday, Foreign Ministry spokesman Wang Wenbin said the unilateral withdrawal of the United States from the nuclear deal, formally known as …

Iraq plans to boost its gas output by 1,500 million cubic feet over the next five years, through its recent initiative to licence exploration operations across 10 oil and gas fields in west Iraq and 13 sites on the country’s western border, stated the Minister of Oil Hayan Abdulghani. Abdulghani …