Increasing domestic demand alongside abundant oil reserves will lead to major refining capacity growth in the Middle East, industry source Offshore Technology reports, referencing findings from GlobalData Energy. The Middle East is projected to be the primary area for global conventional refinery capacity increases, representing over a quarter of the overall total by 2030. This expansion is...

According to a joint statement by the foreign ministers, Australia, Germany, Italy, New Zealand, and the United Kingdom have expressed their opposition to the Israeli government's decision to initiate a new military operation in the Gaza Strip. The statement indicated that the Foreign Ministers of Australia, Germany, Italy, New Zealand, and the United Kingdom firmly oppose the Israeli Security...

The Canadian government is considering the development of a remote northern port on Hudson Bay to serve as a route for exporting natural gas, potash, canola, and other products as Canada aims to lessen its economic reliance on the United States, according to Bloomberg. Energy Minister Tim Hodgson informed Bloomberg that he recognizes “huge potential” in transforming the port of Churchill,...

US President Donald Trump stated on Thursday that he is ready to engage with his Russian counterpart Vladimir Putin, even though the latter currently has no plans to discuss matters with Ukrainian leader Volodymyr Zelensky. “No,” Trump replied when asked if a meeting between Putin and Zelensky ought to occur prior to the discussions between the American and Russian presidents. “They want to...

Norway, Sweden, and Denmark will provide a combined total of €430 million in military assistance to Ukraine. The acquisition of American weapons will occur under the US-NATO mechanism that has been initiated. The Norwegian government's press release indicates that this aid package will feature “assistance for Ukrainian air defense, ammunition, and other essential weapons.” Over €230 million of...

US President Donald Trump has vowed to markedly raise tariffs on Indian exports because, as per the American leader, India's imports of Russian oil aid in perpetuating the crisis in Ukraine. “India purchases large quantities of Russian oil. It then sells a significant portion of the oil on the open market, generating substantial profit,” he noted on Truth Social, mentioning that India overlooks...

US President Donald Trump has declared the implementation of a 50% tariff on imported semi-finished copper products and items, expressing an intention to boost domestic manufacturing of these goods. “Unless stated otherwise in this announcement, all imports of semi-finished copper products and items (...) will incur a 50% tariff,” the announcement signed by Trump and released by the White House...

On Wednesday, the European Commission (EC) revealed that 18 EU member countries have sought a minimum of €127 billion from the Security Action for Europe (SAFE) joint defense investment initiative. The significant interest in SAFE, indicating possible defense acquisitions valued at a minimum of €127 billion, showcases the EU's solidarity and aspirations in the security and defense arena. “We...

The British government has declared its plan to acknowledge the State of Palestine in September if the Israeli authorities do not act to conclude the conflict and address the humanitarian situation in the Gaza Strip, according to the British government website. The government declaration starts with expressing worry regarding the situation of the Israeli captives and the residents of Gaza. “We...