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The US State Department announced that it would waive sanctions on Iran’s access to frozen assets in South Korea and Japan. The State Department informed Congress late Tuesday that it would waive sanctions on Iran’s oil trade so that the country can access frozen funds from South Korea and Japan, …

NASA and the European Space Agency joined forces Tuesday (13 July) in the battle against climate change, a move they said paves the way to a global response to the problem. “To ensure that data from Earth-observing satellites are used to their best advantage, further science and, ultimately, bring the …

OPEC+ has not been successful in making progress in closing divisions between Saudi Arabia and the United Arab Emirates. OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this …

Qatar Petroleum (QP) has finalized a 20-year sale and purchase agreement to supply liquefied natural gas (LNG) to Korea. The agreement with Korea Gas Corporation (KOGAS) covers the supply of 2 million tons-a-year of LNG, QP said in a filing. Shipments will start by January 2025, and will be delivered …

Oil demand surged last month as rising vaccination rates helped underpin robust economic activity, but with oil-producing nations pumping less than needed prices are set to be volatile until it reaches a deal to raise output, the International Energy Agency (IEA) warned on Tuesday. A meeting of Organization of the …

Forssea Robotics has completed an underwater survey of the Floatgen offshore wind turbine installed at the SEM-REV site in France. The main goal of the survey, completed in June, was to visually confirm the integrity of the mooring lines and dynamic umbilical system, besides characterizing marine growth on the various …

The International Energy Agency on Tuesday warned that world oil markets are likely to remain volatile following a breakdown in talks between OPEC members and their non-OPEC allies, creating a no-win situation. In its latest monthly oil market report, the IEA said energy market participants were closely monitoring the prospect …

The UAE’s clean energy firm Masdar, owned by sovereign wealth fund Mubadala Investment Co., plans to develop 440 MW of photovoltaic solar projects in Uzbekistan as it expands its international footprint. Abu Dhabi-based Masdar will develop two power plants on a public-private partnership basis, building on its presence in Uzbekistan, …

The world’s first commercial modular small reactor on land, the Linglong 1, has officially entered into the construction phase for a demonstration project in Changjiang Nuclear Power Plant in South China’s Hainan Province on Tuesday, sending a renewed signal to the world regarding China’s leading position in modular small reactor …

Saudi Arabia and Oman called on Monday for continued cooperation between OPEC and other allied producers to stabilise and balance the oil market, the Gulf states said in a joint statement. Saudi Arabia, the biggest oil producer in the Organization of the Petroleum Exporting Countries, and Oman, a small non-OPEC …