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President Ebrahim Raisi said on Sunday that there should be mechanisms to expand and facilitate non-oil exports and bring back proceeds to the domestic economy. Speaking during a session of Economic Coordination Headquarters, Raisi pointed to currency obligations arising from exports, saying that barriers against fulfilling these obligations should be …

The global market for floating solar panels is set to more than quadruple by 2025, a recent report has revealed. The report published by Korea Energy Economics Institute on Sunday estimates that the total power generation capacity of floating solar farms around the globe had surpassed 3 gigawatts as of …

Saudi Arabia could not ship more crude oil in the first half as it voluntarily restrained output under OPEC+ production-cut agreement; however, high oil prices this year helped the Kingdom to see stable income. The Kingdom’s crude oil exports averaged 5.776 million barrels per day (bpd) in the first half …

US energy firms this week added oil and natural gas rigs for a third week in a row, as a recovery in oil prices prompted some drillers to return to the wellpad over the past year. The oil and gas rig count, an early indicator of future output, rose three …

Turkey expects that the supplies of natural gas via the TurkStream pipeline will be increased, President Recep Tayyip Erdogan told Russian President Vladimir Putin during their talks by phone on Saturday. “President Erdogan pointed out that Turkey and Russia believe the cooperation in the economic sector to be crucial. He …

Gas supplies via the Nord Stream 2 gas pipeline may total 5.6 billion cubic meters this year, Russia’s state-run energy giant Gazprom said in a statement on Thursday. The project was 99% complete as of July, with the pipe-laying barge Fortuna working at the final section. Gas flows via Nord …

Saudi Arabia maintained its position as China’s top crude oil supplier for the ninth month in July, Reuters reported, citing data from the General Administration of Customs in China. Shipments from Saudi Arabia totaled 6.69 million tons in July, or 1.58 million barrels per day (bpd), compared with 1.75 million …

Iran produced 2.485 million barrels per day (bpd) of crude oil in July, registering a 28 percent increase compared to the same month in 2020, according to OPEC’s latest monthly report published on August 12. Based on secondary sources, Iran had produced 1.936 million bpd of crude oil in July …

A German regional court will decide on 25 August whether European Union rules requiring the separation of energy production from transportation and trade must be applied to the Nord Stream 2 (NS 2) gas pipeline, the court’s website showed on Thursday (19 August). The ruling will not affect completion of …

Russian President Vladimir Putin has stated that Russia is ready to continue transporting gas through Ukraine after 2024. However, the Russian authorities need to understand how long the transit will be extended and in what volumes. Putin said this during a press conference. “We are ready to transit gas through …