Russia on Tuesday said further sanctions imposed by the United States related to the Nord Stream 2 gas pipeline were “illegal and wrong,” especially at a time when Moscow and Washington are attempting to rebuild a dialogue. The United States has imposed further sanctions in connection with the Nord Stream …
Read More »AEOI, IAEA Chiefs Hold Meeting in Tehran
The Head of the Iranian Atomic Energy Organization (AEOI) Mohammad Eslami met and held talks with the IAEA Director-General Rafael Grossi in Tehran. The IAEA Chief Rafael Grossi who arrived in Tehran on Monday night met with the Head of the Iranian Atomic Energy Organization (AEOI) Mohammad Eslami on Tuesday …
Read More »$16 Billion LNG Project Sparks New Climate Debate
A US$12 billion (S$16 billion) liquefied natural gas (LNG) investment approved in Australia leads a wave of projects betting demand will rise as the world shuns more polluting alternatives like coal. The development of the Scarborough field, Pluto onshore processing facility and a 430km subsea pipeline led by Woodside Petroleum …
Read More »Nord Stream 2 Setback in Germany could be Short-Lived
Germany could resume the certification process for the Russia-led Nord Stream 2 natural gas pipeline in a few weeks, an analyst at a Moscow-based brokerage told Reuters on Monday after a call with senior executives at Gazprom. Last week, Germany said it had suspended the process of certification of the …
Read More »Putin Confirms Russia’s Readiness to Ensure Long-Term Uninterrupted Gas Supplies to Europe
In a telephone conversation the Russian President and the Italian Prime Minister gave positive assessment to Russian-Italian relations, their constructive and mutually beneficial character, the Kremlin press service said in a statement MOSCOW, November 22. /TASS/. In a telephone conversation with Italian Prime Minister Mario Draghi, President Vladimir Putin confirmed …
Read More »Saudi Aramco Continues to Explore Investment Opportunities in India
Saudi Aramco said it will continue to look for investment opportunities in India as it provides tremendous growth opportunities over the long term, Bloomberg reported. “We will continue to evaluate new and existing business opportunities with our potential partners,” the giant oil company said, adding that it has a long-term …
Read More »Natural Gas Consumption Exceeds Production Level, Warns NIGC
Head of the National Iranian Gas Company (NIGC)’s Production Coordination and Supervision Management Ahmad Zamani said the consumption of natural gas in the country has exceeded the current production level, Shana reported. Speaking to the national TV on Monday, Zamani called on various sectors to manage their consumption during the …
Read More »Oil Prices Buoyed by Soaring Gas Rates ahead of OPEC+ Meet
The sharp rise in wholesale gas prices is spilling over into the oil market, with looming demand for electricity generation and heating likely to further spur the sector this winter. The spike in demand and consumption could lead the OPEC+ alliance of oil exporters, which meets in Vienna on Monday, …
Read More »Middle East Oil and Gas Set for Digital Transformation
The Middle East is the historic heartland of the global oil and gas industry. The region holds almost half of the world’s proven hydrocarbon reserves and, in 2020, it produced nearly one-third of the world’s oil. But the world’s energy sector is changing fundamentally and the region’s position at the …
Read More »OPEC can’t Make High Oil Prices Go away
High oil prices are a symptom of economic and monetary imbalances, not just a consequence of Organization of the Petroleum Exporting Countries (OPEC) decisions. Throughout history, we have seen how OPEC cuts have done little to elevate prices when diversification and technology added to rising efficiency. Likewise, OPEC output increases …
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