More than 350 industry professionals gathered in Dubai last week to give hydrogen a reality check. It became apparent during two days of discussions that, as a future fuel for the Middle East and North Africa (MENA), hydrogen will not be easy to establish. The flurry of project announcements over …
Read More »India Expects $5 Billion Investment in Natural Gas Pipelines in North
India expects companies to invest nearly $5 billion in a network of natural gas pipelines in its northern and northeastern states and federal territories, including Kashmir, India’s Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said on Monday. Companies are expected to invest $4.95 billion (410 billion Indian rupees) …
Read More »The EU Wants Fossil Fuel Firms to Contribute to Climate Fund
Oil and gas companies could be a source of additional funding for a UN climate financing to help developing economies cope with the consequences of climate change, according to a draft EU document seen by Reuters. After failing so far to establish a clear-cut framework of how much wealthy developed …
Read More »Oil Steadies after Expected OPEC+ Cut Extension
Oil prices were little changed on Monday, a day after the widely expected extension of voluntary output cuts through the middle of the year by the OPEC+ producer group. Brent futures were up 19 cents to $83.74 a barrel at 1422 GMT after rising 2.4 per cent last week. U.S. …
Read More »Grossi Calls for Iran’s Full Cooperation with IAEA
IAEA Director General Rafael Grossi reiterated his call on Iran for full cooperation despite all Iran’s cooperation with the Agency. Grossi made the remarks in his Introductory Statement to the Board of Governors on Monday as published on the Agancy’s website. Grossi said that “Iran’s stockpile of enriched uranium continues …
Read More »EU Puts Millions behind ‘Boundary Pushing’ North Sea Floating Solar Plan
A consortium of 15 companies including German utility RWE and Dutch-Norwegian floating PV pioneer SolarDuck has won €6.8m of Horizon Europe funding to support development of a floating solar demonstration project to be located on the OranjeWind offshore wind farm in Dutch waters. Nautical Sunrise, as the consortium is known, …
Read More »OPEC Lifts Production in February
OPEC raised its oil production in January despite voluntary production cuts that the group was supposed to be adhering to, according to new data published on Friday by Bloomberg. A new Bloomberg survey showed that OPEC’s production rose by 110,000 barrels per day to 26.68 million barrels per day—with Libya …
Read More »U.S. Oil Drilling Gets another Bump as WTI Soars to $80
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. The total rig count rose by 3 to 629 this week, compared to 749 rigs this same time last year. The number …
Read More »EU Mulls Extending Steel Safeguard Measures amid Flood of Imports
The European Commission, the executive body of the European Union, is due to examine a request to extend a 25% safeguard on a range of steel imports. Steel news reports that the EC received a request from 14 member states of the 27-member bloc on January 12. This request aimed …
Read More »ADNOC Closes Acquisition of 24.9% Stake in OMV
ADNOC announced that it has formally closed the acquisition of a 24.9% shareholding in OMV AG (OMV), a global energy and chemicals group, headquartered and listed in Vienna, Austria, from Mubadala Investment Company (Mubadala). The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a …
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