Saudi Arabia Set to Use Chinese Yuan for Oil Payments
Riyadh (Agencies): In a significant shift in global economic dynamics, Saudi Arabia is reportedly in talks to use the Chinese yuan instead of the US dollar for oil payments. This…
Afghanistan and Central Asia Collaborate to Boost Regional Trade
KABUL (Agencies): Now that the U.S.-led punitive expedition to Afghanistan has ended, regional trade patterns are returning to normal, as in pre-Soviet Union normal, enhanced by China’s Belt and Road…
Nigeria and China Sign Nuclear Energy Pact
Beijing, China (Agencies): Nigeria and China have signed a comprehensive agreement to strengthen their ties through a new nuclear energy partnership. The agreement was formalized at the 2024 Summit of…
Haiti’s Largest Hydropower Plant Shuts Down After Protests
Port-au-Prince, Haiti (Agencies): Haiti’s largest hydropower plant, Peligre, has been forced to shut down after protesters stormed the facility demanding access to electricity. The shutdown has exacerbated the island nation’s…
Fire Breaks Out at SOCAR Oil Facility in Baku
Baku (Agencies): A fire has erupted at a SOCAR oil facility in the Surakhani district of Baku, leading to significant disruptions and emergency responses. Traffic restrictions have been imposed on…
UK Electricity Bills to Surge by 10% in October
London (Agencies): UK households are bracing for a significant increase in electricity bills this October, as the energy regulator Ofgem announces a 10% rise in the energy price cap. This…
Iran Finds New Buyers of Its Oil
TEHRAN (Agencies): Iran seems to have found new buyers of its crude oil as cargoes have been recently tracked to move to Oman and Bangladesh, Reuters reported on Friday, citing…
U.S. Gasoline Prices Continue to Drop
NEW YORK (Agencies): U.S. prices at the pump slid by 3.5 cents over the past week, hitting a national average of $3.44 per gallon on Monday and down 37.2 cents…
Syrian “Godfather of Oil” for the Regime Killed in Drone Strike
Damascus (Agencies): A Syrian businessman widely known in the region as the “godfather of oil” for the regime of Bashar al-Assad was reportedly killed in an Israeli attack near the…
India to Launch 10th Round for Oil and Gas Blocks
NEW DELHI (Agencies): India is preparing to launch its tenth bidding round for oil and gas blocks in August or September, according to the Directorate General of Hydrocarbons (DGH). This…