Egypt said it will pay $1.3 billion in overdue payments to international oil companies by June, accelerating its earlier repayment plan as it seeks to stabilize its energy sector.

Azerbaijan exported more than 12 million tons of crude oil worth $6.23 billion to Italy in January–October this year, marking a 29.8% increase in volume and a 7% rise in value, according to the State Customs Committee.

Editor's note: Faig Mahmudov is an Azerbaijan-based journalist. The article expresses the author's personal opinion and may not coincide with the view of News.Az.

China's crude oil imports from its top supplier, Russia, increased by 1% in 2024, hitting a record high compared to 2023, as refiners sought discounted Russian supplies amid weaker margins.

Hungary's MOL Group has secured a deal to import Russian oil via the Druzhba pipeline, marking a key development in the country’s energy strategy.

India surpassed China to become the world's largest importer of Russian oil in July, driven by Chinese refiners reducing purchases due to narrower profit margins from fuel production.