Lawmakers on Tuesday validated the bill to accelerate the construction of new nuclear reactors. The compromise text struck between the National Assembly and the Senate was voted by 339 votes to 100. MPs from the majority (Renaissance, Horizons, Modem), the independents (LIOT), the right (Les Républicains) and the extreme right …
Read More »Abu Dhabi’s ADNOC Looks to Raise up to $607 mln from IPO of Logistics Unit
State oil giant Abu Dhabi National Oil Co (ADNOC) said on Tuesday it has set a price range for an initial public offering of its marine and logistics unit that could raise up to $607 million and could give ADNOC Logistics & Services (ADNOC L&S) an equity valuation of as …
Read More »Venezuela Plans to Dramatically Boost Oil and Gas Production this Year
Venezuela’s state oil company PDVSA has got new management that plans to boost production of crude to 1.17 million barrels daily by the end of the year, Reuters has reported, citing an internal document. As of April, PDVSA was producing over 800,000 bpd – the first time it had topped …
Read More »Egypt Signs Agreement with Norway to Export Renewable Energy to Europe
The Egyptian Electricity Transmission Company signed a memorandum with Norwegian company Scatec ASA to start studies for the electrical interconnection project between Egypt and Europe to export renewable energy via Italy. The memorandum was signed on behalf of the Egyptian Electricity Transmission Company by Chairman of the Board of Directors …
Read More »Iraqi Oil Minister Calls on Companies to Develop 13 Oil Fields
The Iraqi Minister of Oil, Hayan Abdul-Ghani, called on international companies on Monday to participate in developing 13 oil fields and exploration sites in northern, central, and southern governorates, the state news agency (INA) reported. Abdul-Ghani explained that the step aims to enhance oil and gas production and reserves, and …
Read More »Photosynthesis Research Opens New Avenues for Renewable Energy
Technical University of Munich (TUM) researchers use artificial photosynthesis that may produce syngas (synthetic gas) for the large-scale chemical industry and be able to charge batteries. Plants use photosynthesis to harvest energy from sunlight. Now researchers have applied this principle as artificial photosynthesis for the basis for developing new sustainable …
Read More »China-Central Asia: Turkmenistan Gas Promotes Green Development
For Turkmenistan, energy cooperation with China has injected momentum for the natural gas-rich country’s export diversity strategy and secured a stable and huge market. It has also unlocked potential in areas including green energy, natural gas utilization, energy technologies and equipment to enhance cooperation across the industrial chain. Turkmenistan is …
Read More »Taliban Says China Eyeing Investments in Afghanistan’s Gas, Oil Sectors
The Taliban has stated that China is interested in investing in Afghanistan’s oil and gas industries. Homyaoon Afghan, the spokesperson for the Ministry of Mines and Petroleum, has stated that they have facilitated the necessary infrastructure for potential investors. “The minister thanked the investors and said that Afghanistan is rich …
Read More »Global Oil Industry Requires $12.1 Trillion in Investments up to 2045
Haitham Al Ghais, Secretary General of OPEC, said there may be no one-size-fits-all solution to a sustainable energy future, but collaboration and inclusive action will be “essential in achieving a just and permanent transition.” In press statements on the sustainability-centric efforts made by the international organisation, Al Ghaith said, “The …
Read More »IMF: Iraq Requires Oil at $75.8 per Barrel for Budget Equilibrium in 2023
The International Monetary Fund (IMF) believes that Iraq needs to sell oil at a price of $75.8 per barrel to achieve budget equilibrium and avoid deficit. A table presented by the Fund indicated that the balance in Iraq’s budget for 2023 will be achieved if the oil is sold at …
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