Russia’s oil reserves will last until 2080 at the current pace of annual production, Natural Resources Minister Alexander Kozlov told Russian outlet RBC in an interview this week. Russia also has natural gas reserves for another 103 years of annual production at current output levels, the minister said. Russia’s actual …
Read More »Daniel Yergin to Receive Prestigious WPC Dewhurst Award
Pulitzer-prize winner, respected author, and leading energy expert, Dr. Daniel Yergin, is being recognised for his “exceptional contribution to the oil, gas and energy industry” with the highest honor of the World Petroleum Council, the Dewhurst Award. This distinguished lifetime achievement award celebrates his role as a global authority on …
Read More »World must End Coal to Save Planet
The world needs to ditch coal in order to tackle climate change and save the planet, former UK business secretary Alok Sharma, who is now president for this year’s global climate summit COP26, said on Friday. In a speech in Glasgow, the city that will host the 26th United Nations …
Read More »EU Interested in Nord Stream 2
European countries are mostly interested in the Nord Stream 2 gas pipeline construction project. The project is still planned to be completed in 2021, Russia’s Minister of Energy Nikolay Shulginov said in an interview with Energy Policy magazine. “Our position has not changed. Europe is largely interested in this gas …
Read More »Saudi Arabia to Ship Full Volumes to Asian Oil Buyers
Saudi Arabia will export full crude oil volumes to at least four Asian clients next month, Reuters has reported, citing unnamed sources familiar with the situation. Saudi Aramco and its Asian buyers use standard contracts, under which either side can trim or boost orders by a margin of 10 percent …
Read More »China Turns to Turkmenistan for more Gas after Cutting Australian Supplies
China is looking to Turkmenistan to expand natural gas supplies as it cuts back on Australian energy imports, reported the South China Morning Post. Wrapping up a meeting with his Turkmen counterpart Rashid Meredov and the country’s deputy prime minister Serdar Berdymukhamedov in Xian on Monday, Chinese Foreign Minister Wang …
Read More »GE, Toshiba Partner on Offshore Wind Technology
GE Renewable Energy and Toshiba Energy Systems and Solutions have signed a strategic partnership to localize critical phases of the manufacturing process of GE’s Haliade-X offshore wind turbine and to support its commercialization. Based on the long-lasting relationship between GE and Toshiba in Japan and beyond, this strategic agreement will …
Read More »Iran’s Non-Oil Exports up 80% in Current Year
The Minister of Industry, Mine and Trade said that Iran’s export of non-oil commodities registered an eighty percent hike in the first two months of the current Iranian calendar year (from March 21 to May 20). Speaking in a get-together meeting of programs on promoting export in the country on …
Read More »Japan and Tepco Studying Release of Fukushima Water 1 Kilometer from Coast
Tokyo Electric Power Company Holdings Inc. and the government are considering a plan to release treated radioactive water from the crippled Fukushima No. 1 nuclear power plant into the sea about 1 kilometer from the coast, informed sources said Tuesday. The plan calls for a pipeline to be set up …
Read More »Middle East Increases Renewable Energy Capacity
The Middle East saw a 5% increase in its renewable energy capacity last year, which stood at 24,224 megawatts (MW). Despite the growth, there was a slowdown in the results compared to previous years due to the COVID-19 pandemic affecting ongoing projects, according to information published in the Saudi Arabian …
Read More »