As a result of Russian gas supply cuts, Europe may face several winters of gas shortages, according to Shell chief executive Ben van Beurden. Van Beurden also warned that Russia’s tightening grip on gas supplies to Europe might cause high power bills and electricity rationing this winter. Russian gas supply …
Read More »Iran, US may Need Several weeks to Resolve their Differences
US and Iran remain at loggerheads over key details of an emerging deal to revive a landmark nuclear agreement and may need several weeks to resolve their differences, US media said quoting officials familiar with the talks. Expectations of an imminent breakthrough grew as Washington and Tehran responded to a …
Read More »OPEC Deepens Support for Saudi Call to Consider Action
OPEC’s united front on possible action grew stronger, as more nations endorsed Saudi Arabia’s view that supply curbs may be needed to stabilize world oil markets. Within 48 hours of comments from Saudi Arabian Energy Minister Prince Abdulaziz bin Salman that OPEC might have to curtail production, fellow members Iraq, …
Read More »Iran’s all Operations under IAEA Inspection: AEOI Chief
Iranian Head of Atomic Energy Organization Mohammad Eslami emphasized that the International Atomic Energy Agency cannot claim Iran’s operations are not based on the rules of the Agency. Mohammad Eslami on the sideline of the Cabinet session on Wednesday told reporters, “The Islamic Republic of Iran from the outset has …
Read More »U.S. Looks to Catch up to Taiwan in Chip Production
Microchips, along with their parts and components have become a huge part of modern life. They’re used in computers, machinery, phones, and many other electronics and appliances we use on a daily basis. Of course, various metal parts and components are integral to the manufacturing of these microchips. How has …
Read More »Al Ghais: OPEC isn’t Responsible for Inflation
While OPEC often finds itself the usual suspect when it comes to high crude oil and gasoline prices, it is not behind the current inflation trend, OPEC Secretary General Haitham Al Ghais said on Wednesday. “There are other factors beyond OPEC that are really behind the spike we have seen …
Read More »UN Chief Issues Warning as Ukraine Nuclear Plant Shelled again
The United Nations chief has called for an immediate end to all military activity around Europe’s largest nuclear power plant in southeastern Ukraine, as Moscow and Kyiv blamed each other for renewed shelling. Ukraine’s Energoatom agency said the Zaporizhzhia complex was struck five times on Thursday, including near where radioactive …
Read More »UN Chief Warns World is One Step Away from ‘Nuclear Annihilation’
The United Nations chief warned in an address on Monday that “humanity is just one misunderstanding, one miscalculation away from nuclear annihilation,” citing the war in Ukraine, nuclear threats in Asia and the Middle East and many other factors. Secretary-General Antonio Guterres gave the dire warning at the opening of …
Read More »OPEC Secretary General Stresses Iran’s Role in Oil Market Stability
The secretary general of the Organization of Petroleum Exporting Countries (OPEC) said that Iran was one of the most important founding members of the entity with a significant role in stabilizing the oil market. In an interview with Kuwaiti newspaper Al Ra’I on Sunday, Haitham al-Ghais said that Iran and …
Read More »NIOC’s CEO: Company will not Let any Investment Opportunity with Russia Pass
The CEO of the National Iranian Oil Company has said the signing of strategic cooperation agreement between Iran and Russia is the biggest investment deal in the history of Iranian oil industry. Speaking at a ceremony where the agreement between the NIOC and Russia’s Gazprom Company was signed, Mohsen Khojastehmehr …
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