On October 22, Rosneft’s CEO, Igor Sechin, revealed some new, previously unpublished details regarding the state-owned Russian petroleum giant’s latest mega-project in the Arctic—Vostok Oil. Specifically, Sechin confirmed that Vostok Oil will include a natural gas liquefaction plant, which will ultimately enable Rosneft to ship significant volumes of liquefied natural …

The world’s power generation is about to become even more green, according to a new publication from the International Energy Agency (IEA). The group on Nov. 10 published its “Renewables 2020″ report, and highlighted how generation capacity from both wind and solar will double across the next five years and …

Oil prices dropped on Tuesday as concerns over demand in the near term in Europe and the United States returned to haunt the market after an overnight surge on progress towards a COVID-19 vaccine. U.S. West Texas Intermediate (WTI) crude futures fell 60 cents, or 1.5%, to $39.69 a barrel …

Iranian Minister of Energy Reza Ardakanian and Qatari Minister of State for energy affairs reviewed ways to advance the agenda of cooperation on electricity sector. The two ministers underlined to develop and continue with cooperation on The Regional Centre on Urban Water Management (RCUWM-Tehran) under the auspices of UNESCO. Both …

Wind and solar capacity will double over the next five years globally and exceed that of both gas and coal, according to a new International Energy Agency (IEA) report. The Paris-based intergovernmental agency anticipates a 1,123 gigawatt (GW) increase in wind and solar that would mean these power sources overtake …

OPEC and its allies could “tweak” their supply accord beyond analyst expectations, Saudi energy minister Prince Abdulaziz bin Salman said Nov. 9, as speculation swirls on how the coalition will set its 2021 production quotas. Emphasizing that the OPEC+ alliance will maintain flexibility, the prince said ministers have several options …

Deepwater oil and gas production remains a key trend in the energy sector, and global cooperation on deep-water exploration needs to be enhanced to reduce costs against a backdrop of low oil prices, Chinese oil and gas experts said at China Energy Week 2020, a conference jointly held by the …

Russian Prime Minister Mikhail Mishustin has submitted to the State Duma (lower house) the candidacy of Alexander Novak who previously headed the Energy Ministry, for the post of Deputy Prime Minister. Under the new constitutional law PM has submitted several candidacies for members of the cabinet to the Duma. “[Particularly], …

Iran’s Minister of Petroleum Bijan Zangeneh said on Monday that the US sanctions imposed by US President Donald Trump on the Iranian oil industry officials are due to his sense of revenge and drudges against Iran. Speaking in the opening ceremony of 181 natural gas projects in Fars Province through …

Islamic Republic of Iran and Qatar are determined to enhance and broaden mutual economic relations. For this purpose, the Iranian Energy Minister and Chairman of Iran-Qatar Joint Economic Cooperation Commission Reza Ardakanian arrived in the Qatari capital Doha on Monday to discuss the relevant issues. In this meeting, made for …