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ExxonMobil joined major lithium producers this week in reiterating a bullish outlook on long-term lithium demand despite the current bearish market and recent price slump of the metal critical for the energy transition. Lithium prices have crashed in recent months, dragged down by piling inventories amid slowing growth in electric …

Saudi Aramco, the largest energy company in the world, granted contracts worth $25 billion for the development of its Jafurah gas project to boost production capability and reduce global warming emissions, reported Bloomberg. The contracts that were awarded include $12.4 billion for the increase in production at the Jafurah gas …

Iraq has secured the 19th spot among countries with the cheapest gasoline prices worldwide, according to the June 2024 Global Petrol Prices report. The report, compiled by the international fuel and energy pricing website, indicates that Iraq’s gasoline is priced at a competitive $0.649 per liter. Notably, Iran tops the …

Construction of one of the world’s biggest wind farms in Egypt will begin by March 2026, a company involved said, as grueling power cuts during a broiling summer highlight the North African nation’s energy needs. The onshore megaproject that will cost more than $10 billion will begin generating electricity in …

Iraq’s oil production has decreased by approximately 4% in 2024, according to statistics published by the Energy Institute (EI). The EI report, obtained by Shafaq News Agency, indicates that the total global production of crude oil and condensates reached 82.636 million barrels per day, marking a 1.4% growth compared to …

The German government has recently transferred a substantial amount of Bitcoin to centralized exchanges, fueling market discussions and speculations. According to data from blockchain analytics firm Arkham, the German Federal Criminal Police Office (BKA) moved another 250 BTC to exchanges such as Kraken and Coinbase. This Bitcoin is worth about …

The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 7 to 581 this week, compared to 674 rigs this same time last year. The …

China Three Gorges Renewables plans to invest $11 billion (80 billion Chinese yuan) in a huge integrated power project in China with solar, wind, and coal power capacity plus a storage facility. China Three Gorges Renewables, a unit of the biggest hydropower producer in the country, China Three Gorges, plans …

Iran’s exports of non-oil commodities have increased by 40 percent during three years to March 2024, according to the Islamic Republic of Iran Customs Administration (IRICA). According to the report, Iran’s non-oil trade surged from $74 billion in 2020 to $116 billion in 2023, marking a 57 percent increase. IRICA’s …

Saudi Aramco, through a wholly owned subsidiary, signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Ltd, the new global powertrain solutions company, alongside Renault Group, Zhejiang Geely Holding Group and Geely Automobile Holdings Ltd. In a statement, the oil giant said it will buy a 10% …