The EU on Saturday welcomed the completion of oil transfer from the decaying ship FSO Safer in the Red Sea waters off the Yemeni coast. “The successful transfer of the estimated 1.14 million barrels of light crude oil is key to averting an imminent environmental disaster in Yemen and the …
Read More »Iran, Armenia Extend, Expand Energy Swap Deal until 2030
Iran and Armenia have signed an agreement to extend the term of the existing contract under which Tehran exports natural gas to Yerevan in exchange for electricity until 2030. The revised agreement requires Iran to expand the volume of its gas supply to Armenia in exchange for electricity from the …
Read More »Russia, South Korea to Build Nuclear Power Plants in Uganda
Ugandan President Yoweri Museveni announced Tuesday that Russia and South Korea will soon start building nuclear power plants in the country. Addressing the 2nd G-25 Africa Coffee Summit, which is being attended by leaders and delegates from 25 African coffee-producing nations at Speke Resort Hotel in Munyonyo in the capital …
Read More »Poland Says It Fixed Damaged Druzhba Pipeline Carrying Oil to Europe
Polish pipeline operator PERN said Tuesday it repaired a leak in a section of the Druzhba pipeline where authorities had detected a leak. PERN said technical services “restored full functionality of the damaged pipeline on Monday evening.” “Now the company’s focus will focus on clearing the area and restoring it …
Read More »Renewable Energy Dominates Newly Established Power Plants in 2022
Some 85% of all power plants installed worldwide last year were in the renewable energy field, the head of the International Energy Agency said on Tuesday. Sending a video message to the Türkiye-China Business Conference, held jointly by Turkish Industry and Business Association (TUSIAD) and Türkiye’s Foreign Economic Relations Board …
Read More »Russia Requests UN Security Council Meeting over Nord Stream Pipelines Explosions
Russia has requested a UN Security Council meeting to discuss last year’s explosions at the Nord Stream gas pipelines in the Black Sea, a senior Russian diplomat said on Saturday. Dmitry Polyansky, the first deputy of the Russian envoy to the UN Security Council, said on Telegram that Russia has …
Read More »Russia’s Crude Oil, Diesel Exports at Higher Volumes than Pre-War Era
Russia’s crude oil and diesel exports are at higher volumes than in the pre-war period with the emergence of new export destinations, particularly China and India, for crude exports and a good range of buyers for diesel exports, according to Vortexa data compiled by Anadolu. Russia’s crude oil exports plummeted …
Read More »IAEA Chief in Japan as Tokyo Moves ahead with Dumping Nuclear Waste into Sea
Amid criticism against Japan’s plans to release nuclear waste from the crippled Fukushima nuclear plant into the sea, International Atomic Energy Agency (IAEA) chief on Tuesday arrived in Tokyo to hold discussions over the issue. Ahead of releasing IAEA’s report on Fukushima nuclear plant’s water discharge plan, Rafael Grossi met …
Read More »Oil Mixed as Market Weighs China’s Interest Rate Decision
Oil prices were mixed in early trade on Tuesday as investors gauged the risks associated with China’s less-than-expected interest rate cut decision, which prompted doubts about the country’s post-COVID recovery. International benchmark Brent crude traded at $76.33 per barrel at 10.37 a.m. local time (0737 GMT), a 0.31% gain from …
Read More »Oil Down on Persistent Demand Woes due to Pending US Debt Deal
Oil prices fell on Tuesday over demand worries in the US due to the debt ceiling crisis, ambiguity about the US Federal Reserve’s (Fed) interest rate policy and recessionary fears. International benchmark Brent crude traded at $76.58 per barrel at 09.52 a.m. local time (0652GMT), a 0.67% fall from the …
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