Archive for the ‘Energy Trade’ Category

US Export Credit Agency Supports Oil and Gas Drilling in Bahrain Despite Biden’s Climate Pledge

December 3, 2024

A US export credit agency is moving forward with plans to back the drilling of over 450 new oil and gas wells in Bahrain, despite President Biden’s commitment to climate action. The agency’s board recently voted to notify Congress about the potential investment, a necessary step for projects exceeding $100 million. Observers anticipate that financing […]

China’s Commodity Import Surge Conceals Underlying Complexities

China, Energy Trade, News

December 2, 2024

China witnessed remarkable increases in the import of crucial commodities such as crude oil, coal, and iron ore in 2023, signaling a significant upswing in demand. While these record-breaking figures are touted as a testament to China’s economic strength, a more nuanced examination reveals intricate factors prompting experts to question the depth of the economic […]

Cambodia Expands Clean Power Imports from Neighboring Countries

Cambodia, Energy Trade, News

October 21, 2024

Cambodia is making significant strides in renewable energy by planning to import over 600 megawatts (MW) of clean power from its neighboring countries, including Laos, Vietnam, and Thailand. Energy Minister Keo Rottanak announced this exciting development, which represents a remarkable increase of more than 50% in the country’s contracted import capacity. Starting in 2026, […]

Kazakhstan Explores Opportunities to Expand Gas Exports to China

Energy Trade, Kazakhstan, News

October 1, 2024

Kazakhstan is actively exploring ways to enhance its gas exports to China, with plans for a potential new pipeline to increase capacity. This initiative highlights the country’s growing importance in the regional energy market and reflects its commitment to fostering international trade. Despite challenges in the global economy, demand for gas in China continues […]

Record High West African Gasoline Imports from Europe Driven by Low Prices

Africa, Energy Trade, Europe, News

February 14, 2024

Preliminary data from Kpler reveals that West Africa is poised to receive a record 730,000 barrels per day (bpd) of gasoline from Europe this month. This surge in imports, if fully realized, would mark a remarkable increase of over 70% compared to January and represents the highest volume since tracking began in early 2017. The […]

New Gas Transit Initiative in Southeast Europe to Boost Regional Energy Security

Energy Trade, Europe, News

February 12, 2024

Efforts to fortify energy security in southeastern and central Europe are gaining momentum with the launch of a collaborative project aimed at establishing a novel gas transit route. Dubbed the “Vertical Corridor,” this initiative seeks to mitigate the impact of disruptions in gas supply by providing alternative pathways for gas transportation. The proposed corridor […]

Ukraine Forecasts Surge in Electricity Exports Amid Warm Weather

Energy Trade, News, Ukrain

February 12, 2024

Ukraine is expecting a notable uptick in electricity exports on Monday, with projected exports almost doubling in comparison to imports. This surge is attributed to unusually warm weather, as confirmed by the energy ministry. Following the events of 2022, Ukraine temporarily halted significant electricity exports due to security concerns surrounding attacks on its power […]

Japanese Crude Oil Imports Maintain Steady Supply from Saudi Arabia

Energy Trade, Japan, News, Saudi Arabia

February 1, 2024

Japan has consistently maintained a substantial share of its crude oil imports from Saudi Arabia, accounting for about 44 percent of its total oil requirements, totaling approximately 36.28 million barrels. This information, sourced from the Agency of Natural Resources and Energy within the Ministry of Economy, Trade and Industry, underscores Saudi Arabia’s reliability as a […]

EU Trade Chief Continues Discussions with US on Battery Minerals Trade Despite Differences

Energy Trade, Europe, News, United States

January 30, 2024

In recent developments, the United States and the European Union have encountered challenges in reaching a trade deal related to critical battery minerals. Despite this setback, both parties are committed to pursuing negotiations aimed at establishing a transatlantic marketplace for minerals and other vital components, as stated by the EU’s top trade official. Valdis […]

China Celebrates Resilient Rebound in Australian Coal Imports, Marking Positive Shift in 2023

Australia, China, Energy Trade, News

January 19, 2024

In a significant development, China experienced a notable rebound in coal imports from Australia throughout 2023, marking a positive shift following a nearly two-year ban. However, import levels remained below those observed in the pre-ban era, as Australia worked to regain market share amid stiff competition from other countries. According to customs data, China […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.