There is now a concerted effort to change the global public perception of nuclear power, as governments worldwide look to rapidly expand their clean energy sources to achieve a green transition. Nuclear power has come on a long journey, from widely popular to demonised and back again. But many people …
Read More »Global Energy Slump Impacts Qatar’s Post-World Cup Finances
Lower oil and gas prices this year and the end of last year’s massive spending before and during the World Cup have slowed down the economic growth in Qatar, one of the world’s top liquefied natural gas exporters, which is currently building the biggest LNG expansion project in history. Qatar …
Read More »India’s Imports of Russian Oil Fall to Seven-Month Low in August
India’s import of cheap Russian oil plunged to lowest in seven months in August as monsoon rains dampened demand, industry data showed. The world’s third largest oil consumer reduced imports from Russia for a third consecutive month in August. It took 1.46 million barrels a day from Russia in August, …
Read More »Iraq Increases Discounted Oil Sales to Jordan in August
Iraq’s State Oil Marketing Organization (SOMO) has reported a rise in its exports to Jordan for August, with the price of a barrel standing at $70.22. With this price tag, Iraq has offered Jordan a discount of $13.13 per barrel, given that the official selling rate declared by Iraq’s Ministry …
Read More »Iran’s Oil Output Capacity Increases 40% in 2 Years
Iran’s oil minister said Iran’s oil production capacity has increased 40 percent with the rise in investment in semi-finished oil projects. Since the beginning of the administration of President Ebrahim Raisi (August 2021), increasing investment opportunities in the oil industry’s projects has been prioritized as one of the key factors …
Read More »OPEC’s Crude Oil Production Rose Slightly in August
Crude oil production from the OPEC alliance actually climbed in August by 40,000 bpd, according to a new survey published by Bloomberg on Friday. Saudi Arabia’s output may have fallen in August by 170,000 bpd, according to the survey, but Nigeria and Iran’s production increased, largely offsetting Saudi Arabia’s cuts. …
Read More »Drilling Continues to Disappoint as Oil Prices Climb
The total number of active drilling rigs in the United States fell by 1 this week, according to new data from Baker Hughes published Friday. The total rig count fell to 631 this week. So far this year, Baker Hughes has estimated a loss of 148 active drilling rigs. This …
Read More »US Backs Chevron in Dispute with Cyprus over Giant Gas Field
Washington has weighed into a dispute between Cyprus and international companies led by Chevron over how to develop a giant offshore gas field, backing the US company’s plan to link it to neighboring Egypt, two industry sources and a US source said on Friday. The Chevron-led consortium proposed connecting the …
Read More »Oil Prices Hit Multi-Month Highs to Snap 2-Week Losing Run amid Tightening Crude Supplies
Oil prices hit multi-month highs to snap a two-week losing run amid expectations of further supply cuts by Opec+ members. Brent, the benchmark for two thirds of the world’s oil, rose 1.98 per cent, or $1.72, to settle at $88.55 a barrel. It hit a session high of $88.75, its …
Read More »Canada’s Oil and Gas Industry Cuts Emissions while Boosting Output
Canada’s oil and gas companies have managed to boost production from conventional resources while reducing carbon dioxide and methane emissions over the decade to 2021, the industry association CAPP has reported. Between 2012 and 2021, CAPP said, Canada’s oil and gas producers increased their total conventional hydrocarbon output by 21%, …
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