Top News

Oil supply from the OPEC+ group dipped in July by 1.2 million barrels per day (bpd) to 50.7 million bpd, the lowest level in nearly two years as Saudi Arabia began its unilateral production cut of 1 million bpd, the International Energy Agency (IEA) said on Friday. The alliance’s oil …

China is set to import 40% more crude from Saudi Arabia under term contracts in September despite the unilateral production cut of 1 million barrels per day (bpd) of the world’s top crude oil exporter, traders told Bloomberg on Friday. Chinese refiners are estimated to receive as much as 52 …

China’s onshore giant PetroChina has produced what it has hailed as the first green barrel of crude oil from the Jilin oilfield it owns and operates in northeastern China’s Jilin province. This accomplishment is part of a broader initiative aimed at mitigating carbon emissions and reducing the company’s overall carbon …

Oil prices fell slightly in Asian trade on Wednesday as data pointed to a large weekly build in U.S. inventories, while weak economic signals from major importer China continued to dent the outlook for demand. After Chinese trade data disappointed markets on Tuesday, Chinese consumer inflation sank for the first …

Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami has declared Tehran is successfully producing heavy water derivatives, a groundbreaking achievement in nuclear technology and medical research. Eslami told IRIB News on Tuesday that the AEO has been pursuing a “combination of laser and biotechnology” to work on …

China on Tuesday released its first national guideline for the development of industrial standards for the production, storage, transport and use of hydrogen energy. According to the World Economic Forum’s latest white paper, China is the largest producer and consumer of hydrogen globally, but less than 0.1 percent of the …

Ugandan President Yoweri Museveni announced Tuesday that Russia and South Korea will soon start building nuclear power plants in the country. Addressing the 2nd G-25 Africa Coffee Summit, which is being attended by leaders and delegates from 25 African coffee-producing nations at Speke Resort Hotel in Munyonyo in the capital …

It is easy to lose sight of the wood for the trees sometimes in the complex world of global oil. And perhaps no subject in that world involves so many different intricate moving parts as the extraordinary relationship between the Federal Government of Iraq (FGI), based in Baghdad, and the …

Polish pipeline operator PERN said Tuesday it repaired a leak in a section of the Druzhba pipeline where authorities had detected a leak. PERN said technical services “restored full functionality of the damaged pipeline on Monday evening.” “Now the company’s focus will focus on clearing the area and restoring it …

China’s crude oil imports in July fell 18.8 per cent from the previous month to the lowest daily rate since January, customs data showed on Tuesday, as major exporters cut back overseas shipments and domestic stocks continued to build. Crude shipments into the world’s biggest oil importer in July totalled …