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If prices for the commodity average $65 a barrel and all else is equal, borrowing needs for the six countries comprising the council would drop 96% from what they’d be if oil traded at $45, an economist writes The Gulf Cooperation Council’s borrowing requirements could drop to $10 billion over …

Northwest China’s Xinjiang Uygur Autonomous Region is taking the lead in China’s renewable energy push, with new energy installed capacity reaching a record high of 35.83 million kWh of electricity, supporting the country’s carbon neutrality goal. The total sum of solar and wind capacity has climbed by 135 percent from …

Kazakhstan took another step toward strengthening its energy security this week after Eni, an Italian multinational oil and gas company, launched the construction of a new solar farm in Otrar, Turkestan, Kazakhstan’s southern region. The project to construct the 50 MW photovoltaic plant is being implemented by a joint Italian-Kazakh …

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al Saud signed, on March 11, a memorandum of understanding (MoU) with Germany to produce hydrogen. On the sidelines of signing the memorandum, the Saudi Minister said that the Kingdom will secure a leading position in the production of hydrogen since …

A major green hydrogen facility in Germany has started operations, with those behind the project hoping it will help to decarbonize the energy-intensive steel industry in the years ahead. The “WindH2” project involves German steel giant Salzgitter, E.ON subsidiary Avacon and Linde, a firm specializing in engineering and industrial gases. …

The Organization of the Petroleum Exporting Countries (OPEC), in its Monthly Oil Market Report (MOMR) for Feb-2021, recently released, showed that oil demand has continued to recover from the Q2-2020 slump, climbing to 92.1mb/d and 94.0mb/d in Q3-2020 and Q4-2020, respectively from 82.8mb/d in Q2-2020. The forecast is said to …

Iraq ranked second in the list of OPEC countries that rose their oil production in February, OPEC report said today, Saturday. The organization stated in its monthly report, “the production of the 13 member states of the Organization of Petroleum Exporting Countries” OPEC “decreased last February, reaching an average of …

The latest data published by the Organization of the Petroleum Exporting Countries (OPEC) shows steady growth in Iran’s crude oil output in February. According to the OPEC report, Iran’s oil production rose by 35,000 barrels per day to 2.12 million bpd in February. The country’s heavy crude oil price also …

Although the COVID-19 pandemic is causing disruptions across almost all industries, the oil and gas sector is less likely to witness significant disruption in the short term, according to Dr Angela Wilkinson, Secretary General of the World Energy Council (WEC). “While the energy transition progresses, we now see that significant …

Azerbaijani Minister of Energy Parviz Shahbazov received US Extraordinary and Plenipotentiary Ambassador to Azerbaijan Lee Litzenberger, the Azerbaijani Ministry of Energy told Trend. The sides discussed cooperation between Azerbaijan and the US in the energy sector. The importance of the exchange of practices between the two countries in the field …