Iranian Oil Minister Bijan Namdar Zanganeh has said Iran is ready to return to the oil market as soon as the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) is revived and the U.S. sanctions are lifted, Shana reported. Zanganeh made the remarks after attending the 17th …
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A UAE climate negotiation team, presided over by the Ministry of Climate Change and Environment, is participating in the virtual meetings of the parties to the United Nations Framework Convention on Climate Change (UNFCCC), launched on May 31 and continues until June 17. The meetings aim to pave the way …
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Oil prices rose on Wednesday after oil cartel Opec and its allies stuck to their plan to cautiously return oil supply in June and July while expecting fuel demand to rebound strongly during the US summer. US West Texas Intermediate (WTI) crude futures rose 32c, or 0.5%, to $68.05 at …
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Russian energy giant Gazprom’s output rose significantly from January through May compared to the same period last year, the company said on Tuesday. “For the first five months of 2021, production amounted to 221.9 billion cubic meters of gas, according to preliminary data,” Gazprom said on Telegram, adding: “This is …
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Spending cuts enforced across the global energy industry last year due to the pandemic will be clawed back in 2021, with investment poised to grow 10% to $1.9tn. That is a return to pre-crisis levels, but the composition of capital expenditure will be more tightly focused on electricity generation than …
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Russia’s coal production is expected to reach the level of 2019, after which coal producers started to reduce output amid the coronavirus pandemic-related economic crisis and the falling demand in western countries, by the end of this year, Deputy Energy Minister Anatoly Yanovsky told reporters on Tuesday. “I think that …
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U.S. crude futures hit their highest level in more than two years after the OPEC+ alliance forecast a tightening global market ahead of a production policy meeting. West Texas Intermediate rose as much as 2.6% from Friday’s close to $68.04 a barrel. Global benchmark Brent topped $70 earlier Tuesday. The …
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Head of the Atomic Energy Organisation of Iran (AEOI) Ali-Akbar Salehi has in a letter to Director General of the International Atomic Energy Agency Rafael Mariano Grossi reaffirmed Iran’s full cooperation with the IAEA, according to Iran’s envoy to international organisations in Vienna. “In this letter, it is mentioned that …
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Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That’s good news …
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The global crude oil demand will grow by 6 mln barrels daily in 2021. The forecast is kept unchanged as compared to the April estimate, according to the final report of the OPEC+ Joint Technical Committee (JTC), with its copy seen by TASS. Committee experts had a videoconference meeting today. …
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