Recalling the disastrous nuclear bombing by the US on Nagasaki 76 years ago, the mayor of the Japanese city on Monday urged world leaders to “commit to nuclear arms reductions.” “In order to follow a single path toward a world free of nuclear weapons amidst these two conflicting movements, world …
Read More »Oil Slips as COVID Dampens Outlook, again
Oil prices dropped 2 percent on Monday, extending last week’s steep losses on the back of a rising US dollar and concerns that new pandemic curbs in Asia, especially China, may set back the global recovery in fuel demand. Brent crude futures slid $1.41, or 2 percent, to $69.29 a …
Read More »Nord Stream 2 will be Completed in a Matter of Weeks
Construction of the Nord Stream 2 gas pipeline is at its final stage, it will be completed in a matter of weeks, Russian ambassador to Germany Sergei Nechaev said in an interview published by the Izvestia newspaper on Monday. “We proceed from the fact that the German-American agreement will not …
Read More »Japan’s ‘Hydrogen Olympics’ the Latest Stumble for Hydrogen Energy
It took some chemical wizardry, but the Olympic cauldron in Japan leapt to life not with natural gas or some other traditional fuel. It burned hydrogen and its flame was intended as a marker not just of an Olympic spirit, but of national ambition. The Tokyo Games “will leave a …
Read More »IGU: Qatar Among Six LNG Export Markets with 90% Plus Liquefaction Capacity Utilisation in 2020
Qatar is among six LNG exporting markets that have achieved utilisation rates of more than 90% liquefaction capacity in 2020, according to the International Gas Union (IGU). Global liquefaction capacity reached 452.9mn tonnes per year (mtpy) at the end of 2020 and the utilisation rate was 74.6% on average compared …
Read More »Natural Gas Prices Surge as Energy Transition-Driven Demand Outstrips Supply
The era of cheap natural gas is over, giving way to an age of far more costly energy that will create ripple effects across the global economy. Natural gas, used to generate electricity and heat homes, was abundant and cheap during much of the last decade amid a boom in …
Read More »The World Is on the Brink of Catastrophe
Failure to act now on climate change will result in “catastrophic” consequences for the world, the leader of the United Nation’s next climate talks has warned. “I don’t think there’s any other word for it,” Alok Sharma, the British minister in charge of the 26th UN Climate Change Conference (COP26), …
Read More »Nearly $480m of Non-Oil Products Exported from Sistan-Baluchestan
Over 1.506 million tons of non-oil commodities worth $478.997 million was exported from Sistan-Baluchestan province in the southeast of Iran during the first four months of the current Iranian calendar year (March 21-July 22), a provincial official announced. Mohammad-Ali Khashi, the director-general of the customs department of Zahedan (the center …
Read More »Iraq is India’s Biggest Oil Supplier in July
Iraq topped the list of India’s oil suppliers in July, data by Vortexa, an oil and gas analytic platform, revealed. The Vortexa data show that 64pc of India’s July crude imports, or 2.1mn b/d, came from the Middle East, compared with 2.3mn b/d in the previous month. Of the 2.1mn …
Read More »Aramco Net Income Soars 288% to $25.5bn in Q2
Saudi Arabian Oil Company (Aramco) today reported a 288% increase in net income for the second quarter of 2021 from the same quarter of last year to $25.5 billion, declaring a dividend of $18.8 billion. The company’s net income for the first half of the year was $47.2 billion, representing …
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