Tag Archives: Oil Price

The sanctioned Russian Arctic LNG export facility continues to ship cargoes to China as the U.S.-sanctioned project did not incur additional sanctions in Wednesday’s U.S. package imposed “as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine.” While the U.S. slapped …

The United States and India are nearing a trade deal that could slash U.S. tariffs on Indian imports from the massive 50% to 15-16% and possibly entail India agreeing to gradually reduce Russian oil imports, Indian newspaper Mint reported on Wednesday, citing three anonymous sources familiar with the talks. A …

Kazakhstan will keep the freeze on fuel prices at least until the spring of 2026, Kazakh Economy Minister, Serik Jumangarin, said on Wednesday. Last week, Kazakhstan introduced a freeze on fuel prices in an attempt to curb runway inflation. The government also introduced a moratorium on further increases of utility …

Japan’s newly elected Prime Minister, Sanae Takaichi, favors accelerating the restart of nuclear reactors as a way to reduce the G7 economy’s dependence on energy imports. As part of its decarbonization plans, Japan has made a U-turn in nuclear energy policy and plans to rely more on nuclear reactors for …

A joint venture between BP and Japan’s JERA has decided to pull the plug on a major offshore wind project in the United States, citing soaring costs and a change in federal policies. JERA Nex BP said inflation had also motivated its decision, which would see its U.S. workforce laid …

An auto supplier that manufactures electrified propulsion systems, among others, has closed a factory in Detroit because of the drop in demand for electric vehicles. In a statement cited by CBS, Dana Inc. said that the closure decision was the result of an “unexpected and immediate reduction in customer orders …

For decades, Canadian oil exporters have only had one destination: south of the border. Yet things are changing. There’s a new big buyer in town, and it’s buying a lot: China. Canadian crude oil flows abroad began to change direction earlier this year, after the trade dispute ignited by U.S. …

Japan will base any decisions about energy imports on its national interests, the country’s trade minister Yoji Muto has said, following suggestions from the Trump administration that Japan suspends all purchases of Russian oil and gas. “Since the invasion of Ukraine, Japan has been steadily reducing its dependence on Russian …

Crude oil exports from Iraq’s semi-autonomous region of Kurdistan have reached 205,000 barrels per day (bpd), but the oil flows via a pipeline to the Turkish point of Ceyhan could be under threat again. Oil exports from Iraq’s northern region of Kurdistan via the Iraq-Türkiye Pipeline to Ceyhan resumed on …

Venezuela is betting on coal to jumpstart its resource economy and exports amid increasing sanctions on its oil industry with few exemptions in the form of waivers. At the end of 2024, a Venezuelan-Turkish joint venture restarted coal production at two mines in northwestern Venezuela – Paso Diablo and Mina …