Oil-exporting countries in the region are expected to fare better this year as higher crude prices bolster their finances Cairo, Egypt. The Arab world’s third-largest economy was one of a few economies to escape a coronavirus-induced contraction in 2020 but growth is expected to soften this year. Reuters The Middle …
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China’s rising imports of liquefied natural gas (LNG) position it to surpass Japan this year as the world’s largest buyer of the superchilled fuel, pricing data and cargo tracking firm ICIS Edge said on Wednesday. The shift – which some analysts had not expected until 2022 – could happen very …
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GlobalData’s latest report, ‘Global Capacity and Capital Expenditure Outlook for LNG Liquefaction Terminals, 2021–2025 – North America Dominates Global Capacity Additions and Capex Spending,’ indicates that global liquefied natural gas (LNG) liquefaction capacity is expected to grow by 70% over the next four years, from 460 million tonnes per annum …
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It’s not just BP Plc and Royal Dutch Shell Plc that are having to prepare for a world that’s less hungry for oil and gas. The world’s biggest independent oil storage company Royal Vopak NV is partnering with battery startup Elestor BV to develop a battery that they think could …
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Iraqi officials have said that the country seeks to build eight nuclear reactors to tackle a crippling power shortage in the oil-rich economy. Iraq seeks to build eight reactors capable of producing about 11 gigawatts, Aljazeera quoted Kamal Hussain Latif, chairman of the Iraqi Radioactive Sources Regulatory Authority as saying …
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The OPEC Secretariat and the City of Vienna will jointly host the First Vienna Energy Scholar Programme (VESP) from 4 to 8 October 2021. The programme aims to provide successful candidates with the opportunity to learn about the Organization’s activities with a focus on short-, medium- and long-term energy perspectives …
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Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift U.S. sanctions that have seen it pumping far below capacity since 2018. Iran and the six powers have been in talks …
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Indigenizing the technology for the manufacturing of some special parts and equipment in the implementation of the development project of the phase 14 of Iran’s South Pars gas field has saved the country $170 million, head of the Industrial Development and Renovation Organization of Iran (IDRO) announced on Tuesday. Making …
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Saudi Arabia’s energy giant, Saudi Aramco, has started sales of its first dollar-denominated Islamic bond as it seeks to raise cash to pay out $75 billion in dividends. The official Saudi Press Agency said that the sale of sukuk, or Islamic bonds compliant with the Muslim faith, will end on …
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Iraq is working on a plan to build nuclear reactors as the electricity-starved petrostate seeks to end the widespread blackouts that have sparked social unrest. OPEC’s No 2 oil producer – already suffering from power shortages and insufficient investment in ageing plants – needs to meet an expected 50% jump …
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