It is ironic that at a time when natural gas is under existential attack in Europe, high prices are conspiring with those aiming for its demise. Even though such high prices are a temporary phenomenon, they are encouraging and hastening the switch to renewables. High gas prices in Europe are …
Read More »Saudi Aramco Bets on Blue Hydrogen Exports Ramping Up From 2030
Saudi Aramco outlined plans to invest in blue hydrogen as the world shifts away from dirtier forms of energy, but said it will take at least until the end of this decade before a global market for the fuel is developed. “We’re going to have a large share” of the …
Read More »India Cuts Middle East Oil Imports as It Seeks to Diversify Energy Sources
India, the world’s third-biggest oil importer, has significantly reduced its imports from the Middle East as part of a drive to diversify crude sources. The share of Middle Eastern crude in India’s oil imports fell to a 25-month low in May, tanker data provided by trade sources showed, as refiners …
Read More »Indian Companies Topped the List of Iraqi Oil Importers
The Iraqi state-owned Oil Marketer, SOMO, said on Sunday that the Chinese oil companies were the top buyers of Iraqi oil in May. In an official chart published on its official website, SOMO said that Chinese importers of Iraqi oil were eight, the most among 32 companies. Indian and U.S. …
Read More »Iran’s Retaining of Data of IAEA Cameras out of Good Will
Iran’s Ambassador and Permanent Representative to the Vienna-based International Organizations Kazzem Qaribabadi said that Iran agreed with the International Atomic Energy Agency’s demand to keep the data recorded by the IAEA’s cameras out of good will and not as an obligation. Qaribabadi was speaking in a televised program on Saturday …
Read More »USA and Germany Plan to Compensate Ukraine’s Losses Due to Nord Stream 2
The United States and Germany want to compensate Ukraine for losses after the launch of the Nord Stream 2 gas pipeline, Bloomberg reports citing sources. The agreement, which some officials hope to have ready for Chancellor Angela Merkel’s visit to Washington next month, could see the countries commit to bolstering …
Read More »After Years of Massive Losses, US Shale Eyes a $60-Billion Year
With oil prices rising to levels not seen in over two years, US shale, bouncing off one of its worst-ever years, could be looking at record profits in 2021. Oil execs and producers are historically pretty good at making money. Oil is a roller coaster of an economic sector, based …
Read More »The UK has Committed to Achieve Net-Zero Carbon Emissions by 2050
The U.K. continues to stand by its oil and gas commitments even following this month’s G7 climate change conference in Cornwall, international pressure to move away from fossil fuels, and the ceasing of operations by other North Sea states. Energy minister Anne-Marie Trevelyan stated this week that the U.K will …
Read More »EIA: US Imports of Iraqi Crudes Dropped
The US Energy Information Administration (EIA) said on Saturday that Iraqi crude oil exports to the US declined to 155,000 barrels per day (bpd) during the past week. According to a report released by the EIA, “The United States imported crude oil from Iraq at a rate of 155,000 bpd, …
Read More »Iran Able to Generate 8000 MWs of Nuclear Electricity
The head of the Atomic Energy Organization of Iran said Sunday the country has the capability to add 8,000 MWs of electricity to the national grid while adding that the only nuclear power plant in Bushehr needs finances. Ali Akbar Salehi, the head of the Atomic Energy Organization of Iran …
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