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Iran’s non-oil exports to the Caucasus region will boom as Armenia is more interested in importing products from Iran rather than Turkey, a commercial official said. “Armenia’s interest in increasing imports from Iran instead of Turkey is considered as a golden opportunity for Iranian traders so that they should take …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 91 thousand bpd after recording zero. EIA stated in a report, “The United States oil exports recorded 5.541 bpd in the first week of January.” The top three source countries of …

The US government on Thursday ramped up sanctions and restrictions on Chinese firms over Beijing’s actions in the disputed South China Sea, and the security threat posed by technology. In a wide ranging series of steps unveiled in the waning days of President Donald Trump’s administration, Washington targeted state oil …

Oil prices fell more than 2% on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world’s biggest crude importer and U.S. plans for a large stimulus package. Brent was down $1.33, or 2.3%, at $55.17 by …

China’s electricity system was already becoming stretched – even before unusually cold weather descended on most of the country in December and January. In common with other fast-developing economies in Asia, China’s reliability problem stems more from rapid growth in electricity consumption than abnormal weather, with generation struggling to keep …

Construction of the last section of the Nord Stream-2 gas pipeline in Danish territorial waters has been postponed. Switzerland’s Nord Stream 2 AG, Gazprom’s 100 percent subsidiary, has no plans to start work on January 15, the day when Denmark’s permit for the beginning of the construction takes effect, Handelsblatt …

On its planned path to climate-neutrality by the middle of the century, Germany could achieve complete decarbonisation of its power sector already by 2040 – and EU climate targets might even compel the country to greatly speed up the expansion of wind and solar power, government ministers have said at …

In a shift away from fossil fuels, Norway is planning to deep dive for metals as part of its plan for a greener future. Having gained most of the country’s wealth from its successful oil industry, Norway is now looking to get ahead of the curve in metals by mining …

This latest discovery follows previous discoveries at Maka Central, Sapakara West, and Kwaskwasi announced in January, April, and July 2020, respectively. Total said on Thursday that the well was drilled by a water depth of about 725 meters and encountered a total of 63 meters net pay of hydrocarbons. This …

The prospect of severe U.S. sanctions led the consulting firm Rambøll to withdraw from Russia’s controversial natural gas project Nord Stream 2. In the last phase of the Nord Stream 2 project, the Rambøll consultancy eventually bowed to the threat of U.S. sanctions, Politiken reports. On the Nord Stream 2 …