The 800-megawatt Al Kharsaah photovoltaic power station, Qatar’s first solar power plant, seen here, was constructed by PowerChina Guizhou Engineering Co. [Photo/China Daily] Since a capacity crowd cheered at the opening on Nov 20 of the 2022 FIFA World Cup at the brilliantly lighted Al Bayt Stadium in Doha, the …
Read More »The Problem with Oil and Gas Price Caps
This week saw two documents published by two government departments: the European Commission in Brussels and the Department of Treasury in Washington. The Commission’s document was a proposal for “a new instrument” aimed at limiting excessive gas prices in Europe. The Treasury’s document was guidance on the implementation of a …
Read More »SOMO Confirms OPEC+ Decision to Reduce Production Stabilizes Global Markets
The State Organization for Marketing of Oil (SOMO) confirmed on Saturday that OPEC+ decision to reduce production did not affect Iraq’s oil exports, and suggested that oil prices in the coming year would range between 85-95 USD. Iraq’s representative in OPEC, Saadoun Mohsen, told the state news agency (INA) that …
Read More »U.S. Allows Resumption of Limited Oil Extraction by Chevron in Venezuela
The United States on Saturday allowed the country’s oil giant Chevron Corp. to resume “limited” extraction of natural resources in Venezuela and to export Venezuelan oil, after the Venezuelan government and the opposition alliance reached a deal to break the political stalemate. Chevron received a six-month license that authorizes the …
Read More »North Korea Aims to Have World’s Strongest Nuclear Force
North Korean leader Kim Jong Un said his country’s intends to have the world’s most powerful nuclear force as he promoted dozens of military officers involved in the recent launch of a new ballistic missile, state media reported on Sunday, Reuters reported. The announcement comes after Kim inspected a November …
Read More »EU Delays Talks on Russian Oil Price Cap until Next Week
A meeting of European Union government representatives, scheduled for Friday evening to discuss a Group of Seven (G7) proposal to cap Russian seaborne oil prices, was cancelled, EU diplomats said. “There was not enough of a convergence of views,” one diplomat said. “There won’t be a meeting tonight nor this …
Read More »France Proposes a Libyan-French Committee to Develop Libya’s Oil Industry
French Ambassador to Libya, Mostafa Mihraje, has called for establishing a joint committee between the French Petroleum Institute and the Libyan oil sector, expressing the readiness of his country’s companies to provide technical assistance on this side. Mihraje held talks with Libya’s Minister of Oil and Gas, Mohamed Aoun, which …
Read More »China’s Renewable Energy Capacity Continues to Expand
China’s installed capacity of renewable energy has sustained growth momentum since the beginning of this year amid the country’s pursuit of green development. By the end of October, China’s total installed power generation capacity reached about 2.5 billion kilowatts, rising 8.3% year on year, data from the National Energy Administration …
Read More »Saudi Aramco Base Oil Gets Nod for $1bn IPO
Saudi Aramco Base Oil Co., a unit of the state-owned oil producer, has received regulatory approval for an initial public offering in Riyadh, as the world’s biggest crude producer looks to list some of its subsidiaries. The IPO will consist of the sale of 50mn shares – a 29.7% stake …
Read More »Europe’s Wind Energy Industry has Hit a Rough Patch
Why isn’t wind power going gangbusters? In Europe, the energy crisis is causing solar power growth to break record after record. In the United States, the Inflation Reduction Act has provided major incentives to the renewable energy sector. For the last two weeks, the world’s preeminent energy and environmental experts …
Read More »