Record imports of cheap Russian crude into India have undermined OPEC’s share of supply to the world’s third-biggest crude importer so much that OPEC’s share of all Indian oil imports has hit the lowest in at least 22 years, according to a Reuters analysis of data from industry sources. As …
Read More »Gazprom’s Nomination for Gas Transit via Ukraine Steady at around 40 mcm
The European market is fairly balanced, with prices and renewable energy generation fairly stable. The only downside is the low level of gas injection into underground storage facilities, but the season for this has only just begun. UKRAINIAN TRANSIT Gas Transport System Operator of Ukraine, or GTSOU, has accepted a …
Read More »Iran Oil Production in Persian Gulf to Increase
A drilling rig was erected off Lavan Island, the Persian Gulf, another step toward boosting oil output, said an Iranian Offshore Oil Company (IOOC) official Monday. Pouya Ma’arefi, the director of the Resalat oil field development project, said the drilling rig was installed adjacent to the DP-R1 platform. The first …
Read More »European Countries Aim to Turn North Sea into Green Power Engine
Leaders from European countries surrounding the North Sea are set to pledge to expand renewable generation in the region to strengthen energy security, at a summit in Ostend, Belgium, on Monday. Seven European Union countries, including France, Germany and the Netherlands, alongside non-EU countries Norway and the United Kingdom, will …
Read More »EU Eyes Billions Worth in Flexibility from Local Electricity Grids
As Europe shuts down its remaining coal power plants and turns away from volatile gas for electricity generation, it is also losing key flexible power supplies that can be switched on at the last minute to keep the lights on during peak hours. To replace those, the European Union hopes …
Read More »Oil Prices in Decline due to Global Demand Uncertainty
Oil prices started the week on the decline due to demand fears fueled by weak global economic data and the possibility of more interest rate hikes. International benchmark Brent crude traded at $80.44 per barrel at 09.35 a.m. local time (0635 GMT), a 1.25% decrease from the closing price of …
Read More »South Korean Companies Eye in Gas Projects in Turkmenistan
South Korean companies are interested in implementing projects in the gas sector in Turkmenistan, this was stated by the head of the Korea-Turkmenistan Inter-Parliamentary Friendship Group Lee Dal-gon at a meeting with the President of the Supreme Council of Turkmenistan Gurbanguly Berdimuhamedov, Azernews reports, citing Turkmen media. According to Lee …
Read More »Azerbaijan and Kazakhstan Agree to Optimize Energy Transit Route to Europe
On April 10, Azerbaijani President Ilham Aliyev paid a one-day official visit to Kazakhstan (President.az, April 10). This visit took place about six months after the first official visit of Kazakhstani President Kassym-Jomart Tokayev as the head of state to Azerbaijan in August 2022 (The Astana Times, August 24, 2022). …
Read More »ADNOC Aims to Grow Energy Market Share in Europe
ADNOC, the national oil company of Abu Dhabi, is expanding its natural gas production capacity and increasing investments to target Europe’s gas markets. As one of the Middle East’s largest energy producers, ADNOC aims to meet the growing international demand for LNG by becoming a net-exporter of gas. The company …
Read More »GCC Countries Look to AI to Build a New Kind of Workforce
As public and private entities across the world weigh how to utilise generative artificial intelligence (AI) technology, GCC countries are embracing the new tool as a way to transform their education sectors. The November 2022 release of ChatGPT by Silicon Valley-based start-up OpenAI unleashed a wave of excitement and concern …
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