Iranian deputy Foreign Minister for the Political Affairs Seyyed Abbas Araghchi says Iran may consider extending cooperation with the International Atomic Energy Agency over inspections of its nuclear sites. Araghchi spoke to NHK in Vienna on Friday. He heads Iran’s delegation in nuclear talks in the Austrian capital. Iran has …
Read More »Saudi Arabia Pivots to Green Hydrogen to Stay a Global Energy Leader
The COVID-19 pandemic devastated the oil-dependent economies of the Gulf Cooperation Council (GCC) as prices of oil collapsed in 2020 due to a record low global demand for crude oil. The GCC includes the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain. Global travel restrictions, stay-at-home orders, shutdowns …
Read More »India Ramps Up Oil Imports from Saudi Arabia after Price Cut
India’s state-owned refiners are ordering their regular volumes of Saudi crude oil for June after the Kingdom reduced its prices, Reuters has reported, citing unnamed sources familiar with the situation. Saudi Arabia cut its official selling price for Asian clients earlier this month by between $0.10 and $0.30 in response …
Read More »Toyota to Test Carbon-Free Hydrogen Engine on Racing Circuit
Toyota Motor Corp. isn’t slowing down in its push to help achieve a carbon-free society but is even speeding up its effort. The automaker announced on April 22 that it will enter a vehicle in motor racing powered by a carbon-free hydrogen engine. Toyota said it can utilize existing technologies …
Read More »Japan’s Largest Energy Producer Bets on Ammonia and Hydrogen for Net Zero
Power generation accounts for roughly a third of global greenhouse gas emissions. So when Japan’s biggest power producer, Jera Co., announced last October that it aims to achieve carbon neutrality by 2050 — but not by relying exclusively on renewable power — it took even some energy experts by surprise, …
Read More »Qatar Among Top Mena Countries with 5-Year Gas Investments of $75bn up to 2025
Committed gas investments in the Middle East and North Africa (Mena) region for the period 2021-2025 are expected to total $75bn, Arab Petroleum Investments Corporation (Apicorp) said. Qatar, Saudi Arabia, and Iraq are the “top three Mena countries in terms of committed gas investments”, the multilateral development financial institution said …
Read More »Norway’s Oil Fields to Run on Green Power as They Export Carbon
Norway is trying to make its dirtiest industry as clean as possible. The multi-billion-dollar plan will do little to reduce the nation’s overall climate impact. The Nordic country will use land-based green hydropower to electrify dozens of offshore oil and gas platforms. That will help meet national climate targets, and …
Read More »EU Postpones Climate and Energy Legislation
The European Union has been forced to postpone its energy and climate legislation, which is highly likely to include CO2 quotas on shipping, by one month. The policy which was to have included the emissions trading legislation which will regulate shipping and aviation and regulate the price of CO2 was …
Read More »Eleven EU Countries Call to Ban Fossil Fuels from Trans-European Energy Infrastructure
Eleven EU countries have signed a declaration calling on the European Union to stop funding fossil fuels under its trans-European energy infrastructure regulation (TEN-E), which is currently under revision. The non-paper – EU jargon for an informal document – follows discussions in Brussels on Wednesday (5 May) about the contribution …
Read More »High Global Demand Sends Russian Urals Crude Oil Price Soaring
Russia’s Ministry of Finance said on Wednesday that the average price for domestic Urals oil benchmark stood at $62.50 per barrel in April, which is a 340% increase in annual terms. According to the ministry, in the first four months of the year the average price for the Russian export …
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