European oil product imports from India and the UAE hit record highs in April as the region continues to replace supplies sidelined by sanctions on Russia, according to tanker tracking data. Flows of mostly diesel and jet fuel from the two countries into Europe more than doubled on the month...
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The United Arab Emirates' energy and infrastructure minister has insisted that Russia will always be a part of OPEC+ even as governments across the globe shun the oil exporter over its war in Ukraine. Speaking to CNBC on Monday, Suhail Al Mazrouei, a former president of the oil alliance...
In early February, a delegation from the US Treasury Department visited the UAE to urge its government and central bank to clamp down on illicit activity involving Russia and Iran. Although the UAE is one of Washington's key allies in the Mideast, especially on defense and intelligence matters...
The US has also spoken to major OPEC countries about boosting output. However, fuel prices have been surging around the world due to a combination of rebounding demand, sanctions on oil producer Russia after its attack on Ukraine and a squeeze on refining capacity. ...
Abu Dhabi also has close ties to Moscow, which has drawn scrutiny from the United States, European Union and other Western allies, who have pressed the UAE to show it is cracking down on firms evading Russia-related sanctions. Al Zeyoudi said the UAE expects to conclude a free trade zone...
Following its withdrawal from the international nuke pact, the U.S. vowed to re-impose sanctions on Iran and inflict punishments including secondary sanctions on countries that have business links with the Islamic republic.
The United States became the world’s biggest LNG supplier in 2023, ahead of Australia and Qatar, as supply disruptions and sanctions linked to Russia’s war in Ukraine created more demand for exports and boosted prices. NextDecade is planning to start construction of the fourth liquefaction ...
Russia agreed to cut its production by 228,000 bpd but has struggled to comply with the pact. On Monday, one of the key Russian officials to foster the pact with OPEC, Kirill Dmitriev, signaled that Russia wanted to raise oil output when it meets with OPEC in June because of improving ...