Hungarian Prime Minister Viktor Orban said he would meet Russian President Vladimir Putin in Moscow on Friday to discuss crude and gas supplies for Hungary and also peace efforts in Ukraine.
The United States has granted Hungary a one-year exemption from sanctions on Russian oil and gas, a White House official confirmed Friday, November 7.
Between January and September this year, a total of 30.5 million tonnes of oil was transported via the Baku–Tbilisi–Ceyhan (BTC) main export pipeline, according to data released by the Georgian Oil and Gas Corporation.
The Kremlin has reacted to the latest sanctions placed on it by the Trump led administration dubbing it “counterproductive”, adding that it was immune to the sanctions.
U.S. President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so.
U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues.
Kazakhstan’s oil exports to Germany are expected to grow in 2026 following an extension of the existing supply agreement, according to Askhat Khasenov, Chairman of the state energy company Kazmunaigaz.
Ukraine’s military says it has carried out strikes on one of Russia’s main explosives factories and an oil terminal in occupied Crimea, escalating long-range attacks on key sites supporting Moscow’s war effort.
Russia on Tuesday extended its ban on gasoline exports and imposed fresh limits on other petroleum products until 31 December 2025.
The Organization of Petroleum exporting countries OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said sources familiar with the talks.
Iran's Oil Minister Mohsen Paknejad told reporters in Dubai that Tehran’s exports to Beijing would be unaffected if the “snapback” mechanism under the 2015 nuclear deal is activated on 27 September. “They will continue, we have no problem,” he said.
Canada’s government is in talks with Alberta and energy firms about scrapping a federal emissions cap on the oil and gas sector, sources told Reuters, if the industry commits to reducing its carbon footprint through other measures.
World oil supply is expected to grow more rapidly this year, with a surplus potentially expanding in 2026 as OPEC+ members increase output and production from non-OPEC countries rises, according to the International Energy Agency (IEA). This contrasts with OPEC's revised outlook.
The global market for chemical enhanced oil recovery (EOR) is set to expand significantly over the coming decade. According to Allied Market Research’s 'Global Oil Recovery Market Report,' the market, valued at $900 million in 2021, is expected to grow at an average annual rate of 4.6%, reaching $1.
India’s foreign minister says trade talks with Washington are ongoing, but New Delhi must defend its key interests as U.S. tariffs loom.
Russian oil supplies to Hungary and Slovakia could be suspended for at least five days following the latest Ukrainian strike on a facility in Russia, the Hungarian and Slovakian governments said on Friday (22 August), in a widening of the fallout of the Ukraine war.
Oil is once again flowing to Hungary and Slovakia via the Druzhba pipeline, officials from both countries said late on Tuesday, after a Ukrainian drone strike on an oil pumping station in Russia's Tambov region halted supplies.
India slammed Donald Trump’s tariff threats over Russian oil imports, sparking rare unity between political rivals and fueling a growing trade rift with Washington.
On Monday, U.S. President Donald Trump announced plans to significantly raise tariffs on India over its continued purchase and resale of Russian oil, accusing New Delhi of profiting from the war in Ukraine.
Talks on a global treaty to reduce plastic pollution risk falling apart as countries remain divided over how to limit plastic production.
U.S. President Donald Trump said he heard that India has stopped buying oil from Russia, describing it as a “good step” — though he admitted the information is unconfirmed.
Türkiye has sent a draft proposal to Iraq aiming to renew and broaden their energy agreement to include cooperation on oil, gas, petrochemicals, and electricity, according to an Iraqi oil ministry official.
The UK, in coordination with the EU, has reduced the price cap on Russian crude oil from $60 to $47.6 per barrel to increase economic pressure on Moscow.
The White House says Russia will face tough new tariffs — and countries buying its oil will be sanctioned — if it does not agree to a ceasefire with Ukraine within 50 days.
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