OPEC+ compliance with oil production cuts stood at 117% in November, up from 116% the previous month, two sources from the group told Reuters, indicating the group’s production levels continue to be below agreed targets. Compliance from the 10 OPEC countries participating in the production cuts reached 122%, with participating …
Read More »
World oil prices fell by more than five percent on Monday, as energy demand fears grew over the fast-spreading Omicron coronavirus variant. In morning deals, Brent North Sea crude tumbled 5.1 percent to $69.79 per barrel and New York’s West Texas Intermediate oil lost 5.7 percent to $66.84. The rapid …
Read More »
Turkmenistan and India discussed the construction of a transnational gas pipeline Turkmenistan-Afghanistan-Pakistan-India (TAPI), Trend reports citing the Foreign Affairs Ministry of Turkmenistan. Subrahmanyam Jaishankar, Foreign Minister of India, and Rashid Meredov, Foreign Minister of Turkmenistan, met in New Delhi on December 19 to discuss joint actions to implement the TAPI …
Read More »
Gas prices in Europe increased by more than 7% and surpassed $1,700 per 1,000 cubic meters, according to London’s ICE. The price of the January futures on the TTF hub in the Netherlands increased to $1,732 per 1,000 cubic meters, or 148.87 euro per MWh. By the closure of the …
Read More »
Energy companies Engie and Equinor have announced the H2BE project which aims to develop production of low-carbon hydrogen from natural gas in Belgium. The Belgian federal government released its Hydrogen Strategy in late October and the H2BE project will help Belgium deliver on the strategy. The project aims at producing …
Read More »
India’s leading renewable energy developer, ReNew Energy Global PLC, has reportedly planned to switch its strategy, from growth based on China’s raw material supply to seek independent development, which has been viewed as India’s move to “counter China” in the sector. Until recently, ReNew Energy and other Indian renewable energy …
Read More »
The International Energy Agency has called on China and India to reduce coal power generation and put their climate pledges into action, describing both countries as “holding the key to future coal demand”. The world’s two largest coal producers – with economies that account for nearly three billion people combined …
Read More »
US senators came to terms concerning consideration of the bill on sanctions against the Nord Stream 2 gas pipeline tabled by Senator Ted Cruz (Republican-Texas) and would vote on this initiative on January 14, 2022 at the latest. “The Senate reached an agreement that at a time to be determined …
Read More »
Russian natural gas deliveries to Germany through the Yamal-Europe pipeline dropped sharply on Saturday, data from German network operator Gascade showed, adding pressure to an already tight European gas market as it heads into peak winter demand. It was not immediately clear why flows were down through the pipeline, one …
Read More »
Iraqi drilling company has started boring a new oil well in the Maysan governorate in the south of Iraq, the State-owned company said in a press release on Saturday. The company said it deployed the 2,000 HP “IDC-23” drilling device to reach 3,290 meters depth in the new well named …
Read More »
Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel