The EU on Saturday welcomed the completion of oil transfer from the decaying ship FSO Safer in the Red Sea waters off the Yemeni coast. “The successful transfer of the estimated 1.14 million barrels of light crude oil is key to averting an imminent environmental disaster in Yemen and the …
Read More »Iraq Awards CNPC $194 Million Contract
A subsidiary of China National Petroleum Corp (CNPC), Daqing Drilling Engineering Co, has been awarded the contract for the development of the Rumaila oilfield in Iraq. The Rumaila oilfield in southern Iraq, near to the Kuwaiti border, will see Daqing drill wells with two rigs as part of a $194 …
Read More »Asian Dominance in the Hydrogen Car Market: A Challenge for Europe and US
As countries around the world look to ways to use emission-free vehicles as a mainstream form of transportation, hydrogen cars are increasingly making their way into the spotlight, even with the popularity of battery electric vehicles. H2-powered vehicles aren’t a new form of technology but are being taken more seriously …
Read More »Flood of Russian Aluminum Undermines Accuracy of LME Prices
MetalMiner actively posts on a variety of metals and market developments. However, we prefer to discuss topics that our clients bring to us, especially those that keep buyers awake at night. One such topic that has been recurring over recent months is the anxiety surrounding the LME aluminum quotation. Specifically, …
Read More »Iran’s Nuclear Activities Going on without Interruption
Iran’s nuclear activities are ongoing without interruption in all areas based on the previous plans of the Atomic Energy Organization and in accordance with the Parliament’s law, an informed source said. Following a report on Iran’s uranium enrichment process, the source said Fars News Agency on Saturday that the peaceful …
Read More »IEA Raises World Oil Demand Forecast in 2023 towards all-Time High
The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in 2023 as demand is “scaling record highs”. World oil demand already hit a record 103 million barrels per day in June and August and “could see yet another peak”, the Paris-based IEA …
Read More »China and Saudi Arabia to Power Green Hydrogen Project with 2.2 GW of Solar Energy
China’s energy company, Sungrow, said this week that it will provide its inverter skid technology and 1+X modular inverter solution for a 2.2 Gigawatt (GW) solar plant that Neom Green Hydrogen Company (NGHC) is building in Oxagon. The project site is in a port area close to the futuristic Neom …
Read More »Iran, Armenia Extend, Expand Energy Swap Deal until 2030
Iran and Armenia have signed an agreement to extend the term of the existing contract under which Tehran exports natural gas to Yerevan in exchange for electricity until 2030. The revised agreement requires Iran to expand the volume of its gas supply to Armenia in exchange for electricity from the …
Read More »UAE, Iraq Regain Share in Indian Oil Basket
The United Arab Emirates and Iraq have started regaining their share in India’s oil import basket as the world’s largest oil exporters Saudi Arabia and Russia plan to keep their production low to boost the prices. Russia, however, continues to hold 42% of the share. While the UAE increased its …
Read More »Russia’s Oil Exports Remained Steady as Revenues Rose in July
Russia’s crude oil and refined products exports remained steady at some 7.3 million barrels per day (bpd) in July, while higher oil prices and narrower price differentials for Russian crude pushed Moscow’s revenues higher compared to June, according to estimates by the International Energy Agency (IEA). Russian crude oil loadings …
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