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Oman’s national oil company OQ’s upstream business part, OQ Exploration and Production (OQEP), reports that its landmark initial public offering (IPO) has raised $2 billion. The latter is a clear sign that national and international interest in GCC-based oil companies is still very high. The IPO result makes OQEP the …

Moderating inflation and reduced market volatility compared to 2022 and 2023 resulted in lower prices for renewable electricity in power purchase agreements across Europe. During the third quarter of 2024, power purchase agreements (PPAs) for electricity sourced from renewable energy showed a 12.4% decline in price, compared to the same …

Russia’s state nuclear energy corporation, Rosatom, is set to present its long-term strategic development plan in 2025, mapping out its vision through 2045. This announcement came from Rosatom CEO Alexei Likhachev during a meeting with President Vladimir Putin. The timing coincides with the 80th anniversary of Russia’s nuclear industry. The …

Germany’s car manufacturing giant BMW is warning that an EU ban on the sale of gasoline and diesel cars from 2035 is “no longer realistic” amid slow EV sales as the European auto industry will see a “massive shrinking” with such a ban. European carmakers are already struggling with their …

India plans a massive upgrade and expansion of its power transmission system, expecting investment opportunities of $109 billion to support the integration of renewable energy sources and storage solutions, the power ministry has said. India’s new National Electricity Plan (Transmission) envisages the addition of hundreds of thousands of kilometers of …

The US Energy Information Administration (EIA) announced on Tuesday that Iraq exported more than five million barrels of crude oil to the United States in September. Iraq’s exports of oil to the United States in September reached 5.97 million barrels, representing an increase compared to the country’s oil exports to …

African countries are planning to launch their own financing vehicle for oil and gas projects in the face of growing pressure from Western financial institutions to abandon the development of these resources. The group of 18 states needs $5 billion to kickstart what it calls an energy bank. They call …

European energy ministers are weighing two options for importing Russian natural gas, which continues to flow into the EU despite the war in Ukraine, Bloomberg reported on Oct. 15. At a meeting in Luxembourg, ministers from the EU’s 27 member countries are set to discuss their readiness for the upcoming …

Azerbaijan’s gas production is poised to outpace its oil output, driven by a series of significant projects in the pipeline, Rystad Energy, an independent research and business intelligence firm, told Trend. The country’s upstream gas sector is on track for substantial growth, aiming to increase gas output by 51% to …

China National Offshore Oil Corporation (CNOOC) has revealed a record cumulative production of 9 billion m3 of natural gas and more than 900 000 m3 of crude oil from the Deep Sea #1 field. Production from the field is set to rise further as CNOOC, China’s third-largest national oil company, …