The global energy industry’s methane emissions surged to 135 million tonnes last year, slightly below 2019’s record highs, the International Energy Agency has said. Despite high energy prices, worries about security of supply and economic uncertainty, there was no reduction in methane emissions observed in 2022, the agency said in …
Read More »OPEC chief calls on oil industry to speak ‘louder’
Haitham Al Ghais, Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC) has called upon the oil industry to get united and be more vocal in the face of criticism that the industry is a major polluter. He said this to a gathering of delegates at the Middle …
Read More »Chinese Shipbuilder Delivers World’s Largest River-Sea Intermodal LNG Carrier
An 80,000-cubic meter liquefied natural gas (LNG) carrier was delivered in east China’s Shanghai on Saturday, making it the largest river-sea intermodal LNG carrier in the world, said its builder Hudong Zhonghua Shipbuilding (Group) Co., Ltd., a subsidiary of the China State Shipbuilding Corporation Limited. With a length of 239 …
Read More »Saudi Arabia Says OPEC Flexible and can Adjust Policy if Needed
OPEC remains flexible and can alter its oil-production strategy if market conditions change, according to Saudi Arabia’s energy minister. “We are flexible enough to adjust OPEC decisions if needed,” Prince Abdulaziz bin Salman said at a conference in the kingdom on Monday. He reiterated that the group’s policies are determined …
Read More »Russia Urges UN to Investigate Nord Stream Blasts after UN Says it has no Mandate
Russian Ambassador to the United Nations (UN) Vasily Nebenzya urged the UN Security Council to launch an investigation into the attacks on Nord Stream gas pipelines in September last year, saying the UN is capable of establishing mechanisms to investigate such an incident after UN said it had no mandate. …
Read More »China’s Petrochemical Industry Sees Increased Revenue in 2022
China’s petrochemical industry saw an increase in revenues and a decline in profits in 2022, according to the China Petroleum and Chemical Industry Federation (CPCIF). The country’s petrochemical industry registered a total revenue of 16.56 trillion yuan (about 2.41 trillion U.S. dollars) in 2022, climbing 14.4 percent year on year, …
Read More »Iran Denies Enriching Uranium, above 60%
Spokesman of the Atomic Energy Organization of Iran Behrouz Kamalvandi has underlined that the Islamic Republic has not enriched uranium above 60 percent purity so far. Kamalvandi told IRNA in an exclusive interview on Sunday night that the member states of the International Atomic Energy Agency (IAEA) are tasked with …
Read More »IEA’s Birol Warns of Tighter Energy Supply Next Winter
International Energy Agency (IEA) head Fatih Birol has warned of possible energy shortages next winter as relatively little new liquefied natural gas (LNG) is coming to the market while China’s consumption set to rise this year. European governments made many correct decisions over the last year to ensure energy supply, …
Read More »Oil Prices End Week Lower amid Concerns over Further Interest Rate Increases
Oil prices ended the week lower as strong US economic data sparked concerns of further interest rate increases, which in turn could crimp economic growth and dampen demand for crude. Brent, the benchmark for two thirds of the world’s oil, settled 2.51 per cent lower at $83 a barrel at …
Read More »Europe’s Thirst for U.S. Crude to Stay High in 2023
Europe’s thirst for U.S. crude oil is expected to remain elevated, VP of Midstream for Chevron Corp said today on the sidelines of the Argus Americas Crude summit. “A key change in flow is U.S. crude going to Europe. For this year, I’m pretty confident Europe is short of Russian …
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