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China accounts for $65-70 billion worth of Iran’s foreign trade each year, according to a senior Iranian businessman who says that China’s oil purchases from Iran have reached record levels. Majid Reza Hariri, who chairs the Iran-China Joint Chamber of Commerce, said on Saturday that up to 50% of Iran’s …

Europe’s biggest gas supplier, Norway, is starting the annual maintenance on gas fields, processing plants, and pipelines, which will see Norwegian gas flows slashed through the middle of September. Some planned works have already begun this week, including the processing plant at Nyhamna. Others begin this weekend, with most maintenance …

ords in 2025 Exxon projects global natural gas demand will rise more than 20% by 2050 from 2024 levels, driven by coal displacement in industry and growing electricity use in emerging markets, according to a Reuters report. The outlook underpins Exxon’s long-term strategy, including an 18% production increase over five …

Jet fuel imports from Asia to Europe reached a record this summer as prices subsided from 2022 highs, the Financial Times has reported, noting the bulk of the record imports came from China and South Korea, cementing their dominance in fuel markets. Citing data from energy analytics provider Vortexa, the …

Pakistan is undergoing an energy revolution fuelled by a sharp rise in solar-plus-battery systems. This rapid evolution and decentralization of power grids is helping to shore up the nation’s energy security and meet international decarbonization pledges. However, while the solar boom is helping to keep the lights on for many …

Goldman Sachs commodity analysts expect Brent crude to slump to the low $50s next year, citing an expected oversupply of some 1.8 million barrels daily towards the end of the year. The surplus will swell as soon as this year, the analysts also said in a client note cited by …

Russia’s fuel oil shipments went mostly to Saudi Arabia and India in July as Asia and the Middle East remain the key outlets for Moscow’s fuel oil and vacuum gasoil (VGO) amid import bans and embargoes in the West. Russia’s oil products have been banned in the EU and other …

Kazakhstan insists that the international oil majors pay a hefty $4.4 billion fine for sulfur pollution despite a court win for Big Oil earlier this month. At the beginning of August, a Kazakh appellate court sided with the international oil majors operating the huge Kashagan oilfield, overturning the massive environmental …

U.S. natural gas consumption is on track to set a new record in 2025, according to the Energy Information Administration. In its latest Short-Term Energy Outlook, the agency projected demand will average 91.4 billion cubic feet per day, up from 90.5 bcf/d in 2024. January usage climbed to 126.8 bcf/d, …

Despite record solar and wind capacity additions and booming renewable energy output, China is not giving up on coal, on the contrary. During the first half of 2025, China commissioned as much as 21 gigawatts (GW) of coal power, the highest amount in the first half of the year since …