The top diplomats from Iran and China discussed upcoming nuclear talks in Vienna on Saturday and Iran’s cooperation with the UN nuclear watchdog. Foreign Minster Hossein Amir-Abdollahian expressed hope to his Chinese counterpart Wang Yi in a telephone call that the US and the Europeans would “enter the negotiations realistically,” …
Read More »Europe’s Dependence on One Energy Source is Major Problem
Europe’s large dependence on one single natural gas supplier has contributed to the current energy crisis, according to the head of the LNG department at Swiss-based energy company Axpo. Axpo head Antonio Canseco, in his speech during Europe’s largest and most influential meeting place for the global gas industry, the …
Read More »Oil Prices Volatile as US Crude Stocks Rise, Energy Crisis Continues
Oil prices were volatile on Thursday, but keen to return to their upward path despite an unexpected build in US crude oil inventories as the world countries are bracing themselves for a post-pandemic energy crisis. International benchmark Brent crude was trading at $77.92 per barrel at 0701GMT for a 0.21% …
Read More »Turkey Poised to Become LNG Bunkering Hub with New Tri-Party Agreement
Turkey is on its way to becoming a key hub for LNG supplies with cooperation from Turkey’s largest public institution in the areas of energy, trade, transportation and storage, BOTAS, along with Arkas Bunkering and Sumitomo Corporation, according to Turkey’s BOTAS on Wednesday. A confidentiality agreement signed between BOTAS, which …
Read More »OPEC+ Keeps Hopes Up
After an unusually quick meeting on Sept. 1, OPEC+ decided to stick with its current production deal of adding an extra 400,000 barrels to markets at least until October as it continues to see markets tightening, a recovery in demand for oil for the remainder of 2021 of over 6 …
Read More »World must Commit to Nuclear Arms Reductions
Recalling the disastrous nuclear bombing by the US on Nagasaki 76 years ago, the mayor of the Japanese city on Monday urged world leaders to “commit to nuclear arms reductions.” “In order to follow a single path toward a world free of nuclear weapons amidst these two conflicting movements, world …
Read More »Oil Up over Demand Hopes as US Crude, Gasoline Stocks Signal Recovery
Oil prices rose on Friday over rising demand euphoria after US crude and gasoline oil inventories recorded huge falls although the lack of consensus at the latest OPEC+ meeting is leaving oil markets without direction. International benchmark Brent crude was trading at $74.48 per barrel at 0752 GMT for a …
Read More »Oil Prices Up on Investor Euphoria over Tight Market
Oil prices rose on Tuesday over bullish market sentiments of a sooner-than-expected demand rebound. International benchmark Brent crude was trading at $75.26 per barrel at 07.29 GMT for a 0.48% increase after closing Monday at $74.90 a barrel. American benchmark West Texas Intermediate (WTI) traded at $73.33 a barrel at …
Read More »Turkey’s Energy Map Becomes Greener as Renewables Expand Countrywide
Turkey’s renewables expansion, driven by hydro, wind and solar places the Izmir province as a leader in wind power and Konya as a pioneer in solar energy, data compiled by Anadolu Agency reveals. Of the country’s total renewables capacity of 50,990 megawatts (MW), hydropower stood at 31,280 MW, wind power …
Read More »Oil Rises on Expected Fall in US Crude Stocks, Demand Recovery Signs
Crude oil prices increased on Wednesday after an anticipated fall in US crude inventories, coupled with euphoria over rising oil demand and recovery signs of the world’s largest economies. International benchmark Brent crude was trading at $74.55 per barrel at 06.57 GMT for a 0.75% increase after closing Tuesday at …
Read More »