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Venezuela is making the most of the global oil shortage, in the wake of the Russian invasion of Ukraine, as the U.S. was forced to make certain concessions on its sanctions on Venezuelan crude to boost its energy security. Oil major Chevron has recommenced operations in Venezuela, and several other …

The recently established military relationship between South Korea and Poland is a multidimensional phenomenon, reaching beyond security in its traditional meaning. In fact, large-scale arms contracts are almost always politicized and followed or accompanied by intensified economic ties. Certainly, in the current circumstances, this view is shared by Warsaw and …

A spokesman for the Atomic Energy Organization of Iran has dismissed a report by the UN nuclear watchdog that says Tehran made an undeclared change to uranium enriching equipment at its Fordow facility near the city of Qom. Behrouz Kamalvandi said the report of the International Atomic Energy Agency was …

Belgium played a key role in supplying energy to its main neighbours in 2022, as it was France’s largest electricity supplier and Germany’s main transit country for natural gas. “Belgium helped France and Germany overcame their energy difficulties in 2022. We can show solidarity with our neighbours thanks to our …

Germany’s Federal Network Agency (Bundesnetzagentur) has reported that 350.4 MW of new PV capacity was installed in the country in December. By comparison, newly installed PV capacity hit 421 MW in December 2021, and 675 MW in November 2022. In 2022, new PV additions reached 7.19 GW, which compares to …

Oil prices rose on Thursday as the US dollar fell and OPEC+ decided to maintain its current production policy. International benchmark Brent crude traded at $83.38 per barrel at 9.08 a.m. local time (0608 GMT), a 0.65% increase from the closing price of $82.84 a barrel in the previous trading …

British oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia’s full-scale invasion of Ukraine last year. Shell reported adjusted earnings of $39.9 billion for the full-year 2022. This comfortably surpasses the $28.4 billion in 2008 which Shell said …

Energy companies in Asian emerging markets are returning to the market for liquefied natural gas (LNG) cargoes as prices have fallen to their lowest in more than a year. Buyers in Thailand, India and Bangladesh have been on the sidelines for months as prices soared following Russia’s invasion of Ukraine, …

OPEC oil output fell in January, a Reuters survey found on Tuesday, as Iraqi exports declined and Nigerian output did not recover further while Gulf members maintained robust compliance with an OPEC+ deal on production cuts to support the market. The survey found that the Organization of the Petroleum Exporting …

Gazprom Kyrgyzstan has invested 30 billion soms in the restoration and modernization of the country’s gas industry for eight years. Deputy General Director of the company for Economy and Finance, Arzymat Aldayarov, announced at a press conference organized by 24.kg news agency. He recalled that in the past eight years, …