Energy Economy

A slowdown of the global economy is dampening oil demand.

Iranian Vice-President and Head of the Management and Planning Organization Mohammad Baqer Nobakht announced that the government will put into operation a 132 kilometer rail route in the Northeastern province of East Azerbaijan within the next 2 months.

Iran’s Road and Urban Development Minister Mohammad Eslami said on Friday that currently his country is conduit to 30 million tons of goods transported between the Far East and Europe. adding that Tehran aims to increase its share to 100 million tons.

The Energy Emergencies Executive Committee will review the actions of National Grid and establish what happened to cause the outage and whether correct procedures were followed.

The seven-turbine Barr Cregg Wind Farm. to be located near Londonderry. has now received planning consent.

Energy Vault claims its technology enables renewables to deliver baseload power for less than the cost of fossil fuels 24 hours a day.

The firm. which aimed to commercialise its flow control devices and modernise the UK grid. has gone bust after running out of funding.

It has launched judicial review proceedings against what it says is the government’s discrimination of onshore wind in favour of offshore wind in its CfD auctions.

The company has around 7.500 domestic and less than 500 business customers.

New statistics show that Iran has exported about 20% more steel this year. while it has cut down its imports of the item by 208%.