Japan plans to start releasing treated radioactive water from the tsunami-wrecked Fukushima nuclear power plant into the ocean as early as late August, Japan’s Asahi Shimbun daily reported on Monday, citing unidentified government sources. The release will most likely come shortly after Prime Minister Fumio Kishida meets with U.S. President …
Read More »Russia Expects $11B Energy Windfall in 2023
Russia expects to get a huge inflow of energy revenue by the end of this year despite an oil price cap imposed by Group of Seven nations, and may channel it toward spending as the government continues to pour resources into the war in Ukraine. In the last five months …
Read More »OPEC+ Panel Keeps Oil Output Policy Unchanged
The OPEC+ ministerial panel met on Friday and decided to keep its current oil production policies unchanged. The policies state that there will be no change in current output and production cuts will stay in place. The OPEC+’s decision came after Saudi Arabia decided to extend its voluntary production cut …
Read More »Iran’s 4-Month Non-Oil Trade Stands at $35.445b
The value of Iran’s non-oil trade reached $35.445 billion in the first four months of the current Iranian calendar year (March 21-July 22), according to the data released by the Islamic Republic of Iran Customs Administration (IRICA). Based on the mentioned data, Iran exported 45.758 million tons of non-oil commodities …
Read More »India’s Energy Consumption Growing at Three Times Global Average
India’s energy consumption is growing at three times the global average with the nation’s oil imports estimated at five million barrels of crude oil in a day, the Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said. By keeping domestic fuel prices “affordable” for consumers, India’s energy consumption is …
Read More »Iraq’s Crude Oil Exports to the US Shrink in July
Iraq’s oil exports to the US dwindled to approximately seven million barrels in July, a moderate decline from June’s tally, data by the US Energy Information Administration (EIA) showed this weekend. The data showed that the average daily volume of Iraq’s crude oil exports during July was pegged at around …
Read More »China’s Surge in Steel Exports Rattles Indian Producers
India may be the world’s second-largest steel producer, yet it continues to grapple with reliance on steel imports. In the last few months, China has emerged as a major steel exporter to India, leading to protests from India’s domestic sector. Indeed, India’s June 2023 steel imports rose by 5.9% month-on-month …
Read More »MIT Engineers Develop Groundbreaking Concrete Supercapacitor
MIT engineers have created a supercapacitor from just cement, water, and carbon black. The supercapacitor is made of ancient, abundant materials, that can store large amounts of energy. The device could form the basis for inexpensive systems that store intermittently renewable energy, such as solar or wind energy. According to …
Read More »World’s Oceans Set New Surface Temperature Record
The world’s oceans set a new temperature record this week, raising concerns about knock-on effects on the planet’s climate, marine life and coastal communities. The temperature of the oceans’ surface rose to 20.96 degrees Celsius on 30 July, according to European Union climate observatory data. The previous record was 20.95C …
Read More »UAE Meets 37.4% of Japan’s Crude Oil Needs in June
Japan’s crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan’s Ministry of Economy, Trade and Industry said. During June, Japan’s total crude oil imports were 68.5 million barrels, of …
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