Governments worldwide are encouraging private companies to move away from fossil fuels and invest heavily in green energy and related technologies. In doing so, they are also trying to expand the consumer market, pushing the public to accept a movement away from fossil fuels, such as the natural gas used …
Read More »
Private US nuclear fusion company Helion Energy will provide Microsoft (MSFT.O) with electricity in about five years, the companies said on Wednesday, in the first such deal for the power source that fuels the sun but has been elusive on Earth. Government labs and more than 30 companies are racing …
Read More »
Signs are emerging that the still continuing IPO boom in the Gulf could be reaching its zenith. Lower oil and gas revenues as a result of falling Brent crude prices, headwinds for the global economy, high inflation in the U.S. and Eurozone, and ongoing central bank interest rates hikes are …
Read More »
According to Iraq’s oil minister, Hayan Abdel-Ghani, Iraq does not anticipate further oil output cuts by OPEC+ at its next meeting in June. In an interview with Reuters, Abdel-Ghani stated that Iraq could not reduce its oil production further and expects no additional reduction during the upcoming meeting. Iraq is …
Read More »
Iranian Oil Minister Javad Owji said on Saturday that Tehran and Baghdad have agreed to extend the gas export contract for five years. The oil minister, who is on a visit to Baghdad, made the remarks following a meeting with Iraq’s Minister of Electricity Ziad Ali Fazel, saying that the …
Read More »
The U.S. Administration could begin crude oil repurchases to fill the Strategic Petroleum Reserve as early as in June, after a Congressionally-mandated sale from the SPR is completed next month, U.S. Secretary of Energy Jennifer Granholm said on Thursday. “That congressionally mandated sale of 26 million barrels will be completed …
Read More »
Shell has halted production at Prelude LNG – the world’s largest floating liquefied natural gas facility offshore Australia – due to a trip, a spokesperson for the supermajor said on Friday without giving details when production could resume. “Production on the Shell-operated Prelude FLNG facility has been temporarily suspended due …
Read More »
The European Union is considering formally banning Russian crude flows via the Druzhba pipeline to Germany and Poland, which have already stopped importing Russia’s crude, Bloomberg reported on Friday, citing documents it has seen. The Druzhba pipeline is a key artery of oil supply from Russia to Europe. It has …
Read More »
Libya and a Russian oil company announced a new discovery on Thursday. Libya’s state-owned National Oil Corporation and Tatneft said they discovered the oil in the Ghadames basin 330 kilometers (205 miles) south of the capital Tripoli at a depth of 8,500 feet. The amount of oil that can be …
Read More »
Low demand for natural gas has sent Europe’s benchmark gas prices towards a sixth consecutive weekly loss—the longest run of weekly losses since 2020. The front-month futures at the TTF hub, the benchmark for Europe’s gas trading, fell by 3.7% to $36.80 (33.80 euros) per megawatt-hour (MWh) as of 12:27 …
Read More »
Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel