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India has become the world’s biggest importer of Russian oil, surpassing China, Reuters has reported. Data on Indian shipments from trade and industry showed that the country imported 2.07 million barrels per day (bpd) of Russian crude in July, good for a 4.2% M/M and 12% Y/Y increase. According to …

Back in June, the global oil market appeared poised for a resurgence, buoyed by a promising uptick in jet fuel demand. The International Air Transport Association (IATA) projected that passenger numbers would hit a record high this year, sparking hopes of a robust recovery for the beleaguered aviation sector. At …

Head of National Iranian Oil Refining and Distribution Company (NIORDC) Jalil Salari says the country is currently producing over 30 million liters of Euro 4 gasoline and 70 million liters of Euro 5 gasoline on a daily basis. Referring to the growth of all the country’s refineries in the production …

China, the world’s largest builder of coal-fired power stations, cut the number of permits for new plants by nearly 80 per cent in the first half of 2024, an environmental group report finds, saying time would tell whether it was a turning point. The Greenpeace East Asia report, based on …

Iraq was the fourth-largest oil exporter to China in July 2024, according to data released by China’s General Administration of Customs on Wednesday. Iraq shipped 4.36 million metric tons of crude oil to China in July, equivalent to approximately 33.93 million barrels, marking a 12.1% decrease from June 2024, when …

Two decades ago, China pioneered the so-called “Angola model” wherein it provided oil-backed loans from China to Angola and other African cuntries to finance the building of roads, hydroelectric dams, railways, and other infrastructural projects. Between 2000 and 2022, Angola borrowed $45 billion from China, repaying some of it in …

Ghana has officially embarked on constructing a massive $12 billion petroleum hub, a project expected to significantly enhance the country’s position in the global oil and gas industry. Located in the southwestern city of Jomoro, the hub will include a 300,000-barrel-per-day refinery, petrochemical plants, and other related infrastructure, positioning Ghana …

Oil markets have turned decidedly bearish after U.S. Secretary of State Antony Blinken revealed that Israeli Prime Minister Benjamin Netanyahu has accepted a cease-fire proposal to stop the war in Gaza, and all that’s remaining is for “Hamas to say yes.” Blinken met on Monday with top Israeli officials in …

The United States became the world’s largest exporter of liquefied natural gas a year ago amid a flood of cheap natural gas from the shale wells of Texas and New Mexico that prompted a series of LNG projects along the Gulf Coast. Lately, however, the industry has started to lose …

Eni has officially commenced gas production from the Argo Cassiopea field in Italy, Trend reports. The gas, extracted from one of four subsea wells recently drilled in the Strait of Sicily, is being transported via a 60-kilometer subsea pipeline to the Gela processing plant. Once processed, the gas will be …