China gave five state-owned companies until Thursday to report on their historic use of imported oil as part of a broader effort by the world’s largest oil importer to control shipments as domestic supplies swell. In an “urgent notice” dated May 25 and reviewed by Reuters, the National Development and …
Read More »Oil Prices Slip as Worry about Demand Offsets Summertime Optimism
Oil prices fell on Thursday but stayed within the tight range set this week, with optimism about the northern hemisphere summer driving season in the US and Europe offsetting concern about demand in India and a potential increase in Iranian supplies. Brent fell 57 US cents, or 0.8%, to $68.30 …
Read More »Iraq Is Iran’s 2nd Biggest Non-Oil Export Destination
Iraq was reported to be Iran’s second biggest non-oil export destination for the period from 21st March to 21st May. Mehdi Mir-Ashrafi, the head of the Islamic Republic of Iran Customs Administration, is quoted as saying that Iran exported $2 billion worth of non-oil exports to China over that time, …
Read More »EU to Target Industry, Transport in Renewable Energy Rules
The European Commission is preparing to unveil 12 climate change policies in July, all designed to cut greenhouse gas emissions faster. A revamp of the EU’s renewable energy regulations is among them. EU energy commissioner Kadri Simson said the revamp will promote power purchase agreements for renewable energy and target …
Read More »Nord Stream 2 Sanctions would Be Counter-Productive for European Ties
U.S. President Joe Biden on Tuesday said he decided to waive sanctions against the company behind the Nord Stream 2 gas pipeline because the project was nearly complete, and doing so could have harmed ties with Europe. Biden, who is preparing for his first visit to Europe and his first …
Read More »UAE to Build $1 Billion Green Ammonia Facility in Clean Energy Push
The UAE’s Khalifa Industrial Zone Abu Dhabi or KIZAD has announced plans to build a $1 billion green ammonia facility in the free zone targeting regional and international markets as OPEC’s third-largest oil producer boosts investments in clean energy. Helios Industry, a privately-owned special project vehicle company or SPV, will …
Read More »Russia Plans to Launch a Nuclear-Powered Spacecraft that can Travel from the Moon to Jupiter
Russia is planning to send a nuclear-powered spacecraft to the moon, then Venus, then Jupiter. Roscosmos, Russia’s federal space agency, announced Saturday that its “space tug” — the term for a spacecraft that transports astronauts or equipment from one orbit to another — is scheduled to launch on an interplanetary …
Read More »US Aims to Fast-track Offshore Wind Development with Expansion to California
The Biden administration will seek to approve more than a dozen offshore wind projects in the next four years and open the coast off California to development as it seeks to supercharge the nascent U.S. industry, officials said May 25. The effort is part of the administration’s broader plan to …
Read More »Oil Steady near One Week High as Prospect of Iran Glut Wanes
Oil prices were steady on Tuesday, holding around one-week highs after jumping more than 3% the previous session as investors tempered expectations of an early return of oil exporter Iran to international crude markets. Brent crude futures were down 1 cent at $68.45 a barrel by 0701 GMT, having jumped …
Read More »IRENA and Siemens Energy Sign Energy Transition Agreement
The International Renewable Energy Agency (IRENA) has signed a partnership agreement with Siemens Energy aimed at advancing the global energy transition. Under the agreement, the organisations will strengthen collaboration on the application of technology to advance and deepen the transition to renewable energy around the world. The wide-ranging scope of …
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