Iran’s oil minister said on Friday that the country’s oil products and exports have climbed in spite of harsher sanctions. Javad Owji said in an interview with the IRNA news agency that the promotion of energy diplomacy and relations with Asian, African, and Latin American countries has helped Iran create …
Read More »Russia’s Gazprom Looks to Africa for Gas Production
Gazprom is ready to help African countries to produce natural gas, representatives of the Russian gas giant said at a meeting with officials from African countries in Johannesburg this week. “I believe that Gazprom’s experience implementing liquefied natural gas and gas pipeline construction projects could be of interest to South …
Read More »India Looks to Fund State Refiners’ Net-Zero Operations Goals
India’s government this week asked some of the biggest state oil refiners to launch rights issues with which the authorities plan to help fund the firms’ net-zero and energy transition goals, Reuters reported on Friday, quoting sources with knowledge of the matter. The government will be seeking equity in Indian …
Read More »First Major Solar Power Plant Takes Shape in Azerbaijan
Azerbaijan has begun installation of solar panels at its 230 MW Garadagh plant, the country’s first major solar power plant. Developed by United Arab Emirates-based renewable energy company Masdar, the plant is expected to be operating by the end of this year, producing 500 gigawatt hours (GWh) annually. Azerbaijan has …
Read More »U.S. Oil Drilling Slow down Continues
The total number of total active drilling rigs in the United States fell by 5 this week, according to new data from Baker Hughes published Friday, falling by more than 70 rigs over the last two months. The total rig count fell to 682 this week—71 rigs below this time …
Read More »Middle East Oil Prices Soar amid Chinese Trading Frenzy
At a time when global recession concerns have depressed global oil prices to pre-Ukraine war levels, prices of Middle Eastern oil have skyrocketed on soaring demand from Asian refiners in China to Japan as the market takes stock of heavy trading by the industry’s biggest names this month. According to …
Read More »Russian Natural Gas Flows through Ukraine may Stop in 2024
Pipeline gas supplies from Russia via Ukraine to Europe may come to an end next year when the transit contract between Moscow and Kyiv expires, the Ukrainian energy minister has told the FT. According to German Galushchenko, the chances of the two sides negotiating a new contract are slim to …
Read More »China’s Cnooc Plans Offshore Oil, Gas Exploration in Tanzania
China’s Cnooc Ltd. is planning offshore oil and gas exploration with state-owned Tanzania Petroleum Development Corp. as the East African nation seeks to boost the development of its natural resources. The joint work will be conducted in deep-sea blocks 4/1B and 4/1C held by TPDC, according to Tanzanian Energy Minister …
Read More »EU Focus Now on Renewables, Grid Expansion after Energy Policy Paradigm Shift
The EU’s energy crisis interventions have improved security of supply, but the industry must now focus on growing the bloc’s renewables capacity and expanding its grid infrastructure in a market rife with inflationary pressure, policymakers and power-sector executives said June 20. “We are experiencing a paradigm shift in energy policy,” …
Read More »Russia Gas Flows through Ukraine could Stop next Year
Russia could shut off one of the last arteries carrying Russian gas to Europe by the end of next year when Ukraine’s supply contract with Gazprom expires, the Financial Times said on Thursday, citing an interview with Ukraine energy minister German Galushchenko. The chances of Kyiv and Moscow agreeing to …
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