Saudi Arabia’s first wind farm, with capacity of 400 MW, has started power generation as the world’s biggest oil exporter boosts its renewable projects amid plans to diversify its energy mix and free up crude used in the electricity sector for export. Dumat al-Jandal, which is being developed by UAE …
Read More »US and Japan Voice Concern over China’s Nuclear Arsenal at ASEAN Talks
The U.S. and Japan expressed concerns over the situation in the South China Sea, where China has been aggressively pushing its territorial claims, and took up Beijing’s nuclear arms issue during talks with ASEAN and partner nations on Friday. Speaking at the foreign ministerial meeting of the ASEAN Regional Forum, …
Read More »Era of Cheap Natural Gas Ends
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 »China Starts Constructing $17-Billion Nuclear Power Plant
China started this week construction work on a new US$17-billion nuclear power plant project, for which it will install Russian nuclear reactors at the Xudabao project in northeastern China, World Nuclear News reports. The Xudabao 3 unit is the first of four units at the plant to see the beginning …
Read More »Masdar Contributes to Launch of Saudi Arabia’s First Wind Farm
Dumat Al Jandal, the Middle East’s largest wind farm and the first in the Kingdom of Saudi Arabia, is now connected to the grid and has produced its first carbon-free megawatt-hours (MWh) of energy. The 400-megawatt (MW) utility-scale wind power project is being developed by a consortium led by EDF …
Read More »Natural Gas Is Crucial in Energy Transition
Natural gas could become a pillar of emissions reduction both in the near and long term, IHS Markit said in a new study this week. While many analysts and net-zero advocates have started to question the role of natural gas in global emissions reductions, IHS Markit has a different view. …
Read More »Iran’s New President Holds Talks with OPEC Secretary General
New Iranian President Seyed Ebrahim Raisi hosted a meeting with the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo in Tehran on Friday, Shana reported. Barkindo briefed Raisi on the condition of the global oil market and emphasized the significant role of the Islamic Republic …
Read More »EIA: U.S. Downsizes Crude Imports from Iraq
U.S. imports of crude oil from Iraq averaged 82,000 barrels per day (bpd) last, the Energy Information Administration (EIA) said on Saturday, despite a spurt in its appetite during the same period. In its weekly report on U.S. oil imports, EIA Said that the U.S. imports averaged 5.588 million barrels …
Read More »Saudi Arabia to Drive Oil and Gas Production Increases This Decade as Majors Remain Wary
Saudi Arabia will lead increases in oil and gas production globally through 2030 as international energy majors remain wary of fluctuating demand and focus on short-term profit, according to Fitch Ratings. The Kingdom will increase production of crude oil, condensate and natural gas liquids by 2.24 million barrels a day …
Read More »US JCPOA Pullout Costs Iran 2bn Barrels in Oil Exports Worth $120bn’
Iran’s oil minister says the US withdrawal from the 2015 nuclear deal in May 2018 deprived his country from exports of around two billion barrel of oil, worth some 120 billion dollars. Bijan Zangeneh made the comments during a meeting with Secretary General of the Organization of the Petroleum Exporting …
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