North Korea launched two long-range cruise missiles on early Saturday as part of a “tactical nuclear strike drill,” the country’s state media reported on Sunday. Latest in a string of missile tests, the launch came two days after the US and South Korea wrapped up their 11-day joint military exercise, …
Read More »Oil Prices Dip on Bleak Economic Data from China
Oil prices inched lower on Wednesday, influenced by weak economic data from China, the world’s largest oil importer. International benchmark Brent crude traded at $84.86 per barrel at 10.30 a.m. local time (0730 GMT), a 0.04% drop from the closing price of $84.89 per barrel on Tuesday. The American benchmark …
Read More »Libya Gives Domestic Companies Opportunity to Invest in Oil Sector
Libya has for the first time in the country’s history given domestic private companies the opportunity to invest in the field of oil production, Libya’s National Oil Corporation (NOC) said Sunday. NOC’s Board of Directors called on private Libyan companies to invest in the field as part of the strategy …
Read More »EU Welcomes Oil Transfer from Decaying Ship in Red Sea
The EU on Saturday welcomed the completion of oil transfer from the decaying ship FSO Safer in the Red Sea waters off the Yemeni coast. “The successful transfer of the estimated 1.14 million barrels of light crude oil is key to averting an imminent environmental disaster in Yemen and the …
Read More »Iran, Armenia Extend, Expand Energy Swap Deal until 2030
Iran and Armenia have signed an agreement to extend the term of the existing contract under which Tehran exports natural gas to Yerevan in exchange for electricity until 2030. The revised agreement requires Iran to expand the volume of its gas supply to Armenia in exchange for electricity from the …
Read More »Russia, South Korea to Build Nuclear Power Plants in Uganda
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 …
Read More »Poland Says It Fixed Damaged Druzhba Pipeline Carrying Oil to Europe
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 …
Read More »Renewable Energy Dominates Newly Established Power Plants in 2022
Some 85% of all power plants installed worldwide last year were in the renewable energy field, the head of the International Energy Agency said on Tuesday. Sending a video message to the Türkiye-China Business Conference, held jointly by Turkish Industry and Business Association (TUSIAD) and Türkiye’s Foreign Economic Relations Board …
Read More »Russia Requests UN Security Council Meeting over Nord Stream Pipelines Explosions
Russia has requested a UN Security Council meeting to discuss last year’s explosions at the Nord Stream gas pipelines in the Black Sea, a senior Russian diplomat said on Saturday. Dmitry Polyansky, the first deputy of the Russian envoy to the UN Security Council, said on Telegram that Russia has …
Read More »Russia’s Crude Oil, Diesel Exports at Higher Volumes than Pre-War Era
Russia’s crude oil and diesel exports are at higher volumes than in the pre-war period with the emergence of new export destinations, particularly China and India, for crude exports and a good range of buyers for diesel exports, according to Vortexa data compiled by Anadolu. Russia’s crude oil exports plummeted …
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