The two countries reaffirmed their commitment to bolstering international security and stability and to continue to work together to overcome regional and global challenges.

The company reported a big drop in profits in 2022.

The mission has been launched during what Armenia describes as a "humanitarian crisis" ravaging the breakaway region of Nagorno-Karabakh. Since mid-December, a group of Azerbaijanis have been blocking the only road into Karabakh from Armenia to protest what they claim is illegal mining causing environmental damage, leading the mountainous region...

Looking to develop offshore hydrocarbon sites, Libya's National Oil Corporation has signed an $8-billion deal with Italian energy company ENI. The deal is expected to be inked on Saturday at an official ceremony. The development of the offshore sites is hoped to produce 850 million cubic feet of gas per...

Iran's economy has been subject to increasing pressure with fresh sanctions imposed by Western countries over the authorities response to protests sparked by the death of Mahsa Amini.

The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute of International Finance report points out.

Foreign Minister Hossein Amir-Abdollahian "strongly criticized the emotional approach of the European parliament and labelled the move inappropriate and incorrect" in a telephone call with EU foreign policy chief Josep Borrell, the ministry said.

Despite pressure on him to authorize delivery of tanks to Ukraine, German Chancellor Olaf Scholz pledged support to the war-scarred country for "as long as necessary". Germany's allies in Europe have implored the country to agree to the export of Leopard heavy tanks to help Ukraine repel Russia's invasion.

The US Inflation Reduction Act signed by President Biden last year, is the most significant climate pact since the Paris Agreement in 2015, says IEA Executive Director Fatih Birol.

ABU DHABI, UAE - European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company CEO predicted on Saturday, warning that market volatility could last for years.Russian gas exports to Europe plunged after Moscow's invasion of Ukraine but Saad Sherida al-Kaabi, head of QatarEnergy, said...

The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their LNG supplies in both near and distant future.

Most of Turkey's demands have involved Sweden because of its more robust ties with the Kurdish diaspora.

Russian President Vladimir Putin had unilaterally ordered his forces to pause attacks for 36 hours for the Orthodox Christmas.

Abu Dhabi, UAE- The UAE has dispatched a second consignment of household generators for the Ukrainian civilians affected by the ongoing war with Russia.In December, the UAE announced that it's sending 2,500 household generators to civilians affected by the ongoing crisis in Ukraine that has disrupted energy infrastructure and caused...

Erdogan's call for a ceasefire followed a proposal earlier Thursday by Russia's spiritual leader Patriarch Kirill for an Orthodox Christmas truce this week.

The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel prices because of the war in Ukraine. But the energy saving gains were wiped out by the government's decision to burn more coal and oil to make up for the...

Washington, United States--Two World Bank entities provided a record $75 billion in financing last year, said a letter by its president, as developing countries faced crises like climate change and Russia's invasion of Ukraine.The aid comes as countries emerging from the Covid-19 pandemic were hit by fallout from war in Ukraine...

EU nations have adopted a mechanism to cap natural gas prices, but analysts say it will likely have only a limited impact on reducing what businesses and households pay.

A mild winter has enabled countries to tap less gas from stocks that were built up in anticipation of cuts in supplies from Russia, which was Europe's main supplier before the war.

Footage from the war-themed Arma 3 video game has been used repeatedly in recent months in fake videos about the Russian offensive in Ukraine.

Russia's President Vladimir Putin said he was "an eminent religious and state figure, a convinced defender of traditional Christian values".

United Nations, US--The UN General Assembly on Friday asked the International Court of Justice to consider consequences for Israel over its occupation of Palestinian territories, a day after the Jewish state's most right-wing government ever took over.The General Assembly voted 87-26 with 53 abstentions on the resolution, with Western nations split...

Hundreds of Syrians in the rebel-held north protested against signs of a thaw between Ankara and Damascus after their defense ministers met in Moscow for the first time since 2011. Several hundred demonstrators gathered in Al-Bab, a town controlled by rebel factions long backed by Ankara. "We will not reconcile,...

New York, US--Russia on Tuesday banned oil sales to countries and companies that comply with a price cap agreed by Western nations, briefly helping to lift crude prices."The supply of Russian oil and oil products to foreign legal entities and individuals is prohibited if the contracts for these supplies directly...

The price ceiling of $60 per barrel agreed by the European Union, G7 and Australia came into force in early December and seeks to restrict Russia's revenue.

Kuleba said the question of Russia's veto-wielding permanent seat in the UN Security Council -- also held by the United States, Britain, France and China -- was already being discussed around diplomacy circles.

Kuwait City, Kuwait-- Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European markets in light of the severe shortage of energy sector in the continent.Kuwaiti media reports said the company shipped 66,000 tons, and the shipment was produced with special specifications that...

"At the core of it all is the policy of our geopolitical opponents aiming to tear apart Russia, the historical Russia," Putin said. "They have always tried to 'divide and conquer'... Our goal is something else -- to unite the Russian people," he said.

Turkey, which helped broker a deal with the United Nations for the export of Ukrainian grain through the Black Sea this summer, is seeking to bring together Russian and Ukrainian leaders for negotiations to end the war. It already hosted a meeting between the Russian and Ukrainian foreign ministers in...

Kyiv, Ukraine--Ukraine estimates its grain harvest fell by around 40 percent year on year due to the Russian invasion, a representative for the country's industry told AFP Friday."We expect a grain harvest of 65-66 million tonnes" by the end of the year, the head of the Ukrainian Grain Association Sergiy Ivashchenko...

Introduced alongside an EU embargo on seaborne deliveries of Russian crude oil, the cap aims to ensure Russia cannot bypass the embargo by selling its oil to third countries at high prices. Russia has said the cap will not affect the Ukraine offensive and expressed confidence it would find new...

A survey undertaken in Germany has revealed that consumers are heading into 2023 feeling upbeat as government interventions take some of the sting out of soaring energy costs. Pollster GfK said its forward-looking survey of around 2,000 people inched up by 2.3 points to reach minus 37.8 points for January.

Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers agreed a temporary ceiling to mitigate a severe energy crunch following Russia's invasion of Ukraine. "Energy markets must stay free so upstream" investments can continue, he told a press conference,...

Sweden's Supreme Court cited the risk of Turkey's "persecution based on this person's political beliefs" when it blocked the request on Monday.

Germany plans to open four more government-funded LNG terminals over the next few months as well as a private terminal in the port of Lubmin.

Ifo's positive outlook came a day after a closely watched survey showed German investor confidence rising again in December.

Several EU countries, including France, Poland and Spain, want a price cap lower than the one proposed by the European Commission, with fewer conditions attached. Some EU countries including Germany, the Netherlands and Austria, view a too-rigid price cap as a threat to supplies, comporting the risk that deliveries could...

Erdogan told Putin in a phone call on Sunday that is was "important to clear the (Kurdish fighters) from the border to a depth of at least 30 kilometers," his office said.

Russia has assembled a "shadow fleet" of more than 100 vessels seeking to circumnavigate the Western sanctions regime. These ships are reportedly using non-Western insurers and selling oil at higher prices to countries that have not subscribed to the new sanctions.

The EU is set to impose more sanctions on Iran for drone supplies to Russia and a crackdown on protests over the death of Mahsa Amini, European diplomats said. The new measures will target around eight individuals and organizations involved in the manufacture and delivery of drones Moscow has used...

The mediation efforts were led by the Emirati president Sheikh Mohammed bin Zayed bin Sultan Al Nahyan and the Crown Prince of Saudi Arabia  Mohammed bin Salman bin Abdulaziz Al Saud.

Istanbul, Turkey - Turkey said Wednesday it has started requesting proof of insurance from tankers loaded with Russian crude oil after Western powers imposed a price cap to punish the Kremlin for its war on Ukraine. But a Turkish official denied that the measure was slowing the passage of oil...

The trip -- only Xi's third overseas journey since the coronavirus pandemic began, and his first to Saudi Arabia since 2016 -- comes after US President Joe Biden's visit in July, when he pleaded in vain for higher oil production.

World oil prices rallied after more easing of Covid containment measures in China and as a price cap on Russian crude agreed by the EU, G7 and Australia came into force. Brent North Sea crude and WTI advanced over 2.5 percent, also after OPEC and its Russia-led allies decided to...

Major oil-producing countries led by Saudi Arabia and Russia agreed to maintain their current output levels. Representatives of 13 members of the Organization of the Petroleum Exporting Countries led by Riyadh, and their 10 allies headed by Moscow, decided to stick to a production cut of two million barrels per...

Vienna, Austria— Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force. The 13-member Organization of the Petroleum Exporting Countries (OPEC) is due to consult with 10 other oil-producing nations, including...

The $60 oil price cap will come into effect on Monday or soon after, alongside an EU embargo on maritime deliveries of Russian crude oil.

Ukraine welcomed a US$60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy" Russia's economy. The price cap, previously negotiated on a political level between the G7 group and the European Union, will come into effect with an EU embargo on Russian crude...

PARIS, FRANCE - Russia's invasion of Ukraine has driven countries across the world to boost energy efficiency, creating "huge potential" to tackle high prices, security and climate change, the IEA said on Friday. Governments have scaled up fossil fuel subsidies to cushion the impact of rising energy costs on households...

Traders are growing confident that the Federal Reserve will slow its pace of rate hikes after Fed boss Jerome Powell this week indicated that the days of jumbo 0.75-percentage-point increases were over.