Data just released by the Federal Energy Regulatory Commission (FERC) states that renewable energy sources (solar, wind, biomass, geothermal, hydropower) dominated new U.S. electrical generating capacity additions in the first half of 2020, according to an analysis by the SUN DAY Campaign. Combined, they accounted for 57.14% or 7,859 MW …
Read More »Russia Becomes World’s Second-Largest Oil Producer
The United States retained its leadership in oil output worldwide, the Joint Oil Data Initiative (JODI) said in a new update. Russia won the second place whilst Saudi Arabia came third. As for both oil output and processing, in June, Russia saw a slight change month-on-month. The U.S. oil production …
Read More »Rising Temperatures most Likely to Hit Russian Energy Projects Furthest North
An S&P Global Trucost analysis has shown that projects furthest North in Russia, including Yamal LNG, the Bovanenkovo gas field, and the Prirazlomnoye oil field are likely to have the biggest increase in heatwave days up to 2050. “I think the key takeaway here is that the number of heatwave …
Read More »IAEA Chief may Visit Iran Next Week
Permanent Representative of Russia to Vienna-based international organizations wrote in a tweet that the director-general of the International Atomic Energy Agency “may visit” Iran next week. Mikhail Ulyanov wrote on Friday evening, “According to knowledgeable mass media the IAEA Director Gener may visit Iran for the first time as early …
Read More »Tesla to Build World’s Largest Energy Storage Facility in US
Tesla energyTesla partners with US utility to build li-ion battery energy storage facility in California PG&E will own the facility at its substation in Moss Landing, California, but the design, construction and maintenance operations will combine efforts by both by the San Francisco-based utility and the battery and electric vehicle …
Read More »Saudi Aramco Puts $10bn China Oil Refinery Deal on Ice
Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China, according to people familiar with the matter, as the company slashes spending to cope with low oil prices. Saudi Arabian Oil Co., or Aramco, decided to stop investing in the …
Read More »Iran Keen on Boosting Political, Economic Ties with Azerbaijan
Iran’s new ambassador to Azerbaijan Republic on Friday stressed the need for promoting political and economic relations between the two countries. Upon arrival in Baku to start his mission as Iran’s new ambassador, Abbas Mousavi told IRNA, “I am very happy to start my work today in the neighboring, friend, …
Read More »Turkish-Discovered New Black Sea Gas Reserve Valued at $65 Billion
The approximate value of the large gas reserve in the Black Sea which Turkey said it discovered earlier in the day is $65 billion, Turkish Energy Minister Fatih Donmez said on Friday. “The approximate value is $65 billion. We will be conducting the seismological exploration and drilling on our own”, …
Read More »OPEC+ Needs to Offset Large May-July Oversupply
Some members of the OPEC+ group of oil-producing nations would need to slash output by an extra 2.31 million barrels per day (bpd) for a month to make up for their oversupply between May and July, an internal OPEC+ report seen by Reuters shows. That oversupply above OPEC+ agreed targets …
Read More »Turkey Nets Largest-Ever Find with Tuna-1 Gas Discovery
A gas discovery of the scale of the Tuna-1 find in the Black Sea, if developed, would be transformational for Turkey, given its overwhelming reliance on imports and crippling energy import bill. Turkey is chiefly reliant on piped gas from Russia, Azerbaijan and Iran but the share of liquefied natural …
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