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Kuwait’s new Cabinet has resigned amid protests over a planned spending spree of the country’s oil wealth by the Assembly, which some fear would drain state coffers to the point of no return. The Cabinet’s move to resign is meant to hinder the Assembly’s attempts to push through spending bills …

The US Special Envoy for Iran Robert Malley said the Biden administration will increase pressure on China to cease imports of Iranian oil as the US tries to enforce nuclear sanctions. “China is the main destination of illicit exports by Iran,” and talks to dissuade Beijing from the purchases are …

As Asian oil demand increases, Russian crude oil loadings from Baltic ports are on track for a 50% hike from December to January, Reuters reports, citing its own data combined with trader insights. Russian Urals and KEBCO crude oil loadings specifically from the ports of Primorsk and Ust-Luga will experience …

United Arab Emirates renewable energy company Masdar, state oil firm Abu Dhabi National Oil Company (ADNOC) and oil major BP, reports Reuters. BPL agreed to conduct a joint feasibility study on exploring the production of sustainable aviation fuel (SAF) in the UAE, Masdar said in a statement on Friday. The …

Eni and Algeria’s Sonatrach have signed two deals on future projects on energy supply, energy transition and decarbonisation, the Italian energy group said on Monday. The agreements were signed in Algiers in the presence of Italy’s Prime Minister, Giorgia Meloni, and Algeria’s President, Abdelmadjid Tebboune. Under the deals, Eni and …

Uzbekistan has resumed gas imports from Turkmenistan, Trend reports via Uzbek Uztransgaz Company. According to the source, on January 21, 2023, Turkmenistan’s Türkmengaz state-owned company resumed gas supplies to Uzbekistan. Due to an accident that occurred at the Galkanish gas field of Turkmenistan since January 12, 2023 gas supply to …

Oil prices slightly dropped on Monday underpinned by tentative economic growth in China and potential recession in the US. International benchmark Brent crude traded at $87.51 per barrel at 9.54 a.m. local time (0654GMT), down 0.14% from the closing price of $87.63 a barrel in the previous trading session. The …

European natural gas fluctuated with Norwegian supplies expected to drop to the lowest in more than two months in the middle of a cold snap that’s boosting demand. Available capacity at several Norwegian facilities has been reduced by works and orders for shipments have fallen. While flows from the country …

In its latest monthly report, the agency declared that the total oil production of the Organization of the Petroleum Exporting Countries in the last month of the past year stood at 29.19 million barrels per day, and the total oil production of 13 OPEC member states decreased 40k bpd in …

The United Arab Emirates and India are discussing ways to boost non-oil commerce in rupees as the Gulf country looks to strengthen ties with its second-largest trade partner. “We are still in early-stage discussions with India on this dirham-rupee trade,” Thani al-Zeyoudi, the UAE’s Minister of State for Foreign Trade, …