Tag Archives: Financial Tribune

OPEC oil producer Iraq intends to award a new project for the construction of a solar power plant with a generation capacity of 700 megawatts, the country’s Electricity Minister Ziyad Ali Fadel was quoted as saying on Friday by Baghdad Al-Yaum news agency. The minister noted that the Cabinet would …

A 16-megawatt wind turbine – the world’s largest – is now in place off the southeastern coast of China. Developer China Three Gorges (CTG) Corporation and wind turbine maker Goldwind have announced that the world’s largest turbine has been installed off China’s Fujian Province. It will now undergo commissioning and …

The construction of the first phase of Iran’s first coal-fired power plant in Tabas, South Khorasan Province, has registered a work-in-progress rate of 35%. Based on data from the Thermal Power Plant Holding Company, the boiler of the plant has been imported on account of its higher technology, which will …

Hungarian Foreign Minister Peter Szijjarto has ruled out the prospect of a Russian gas ban in the European Union’s next package of sanctions, calling it “impossible”. Landlocked Hungary is overwhelmingly dependent on Russian hydrocarbons. Szijjarto’s comments come as Russian President Vladimir Putin says he believes the West will not be …

Oil prices rose on Friday on growing signs of tightness in US markets after Hurricane Ida hit offshore output, although benchmarks were heading for weekly losses of nearly 1% after China announced plans to sell crude from its strategic reserves. Brent crude futures for November rose 63 cents, or 0.9%, …

Iraq is still waiting for Iran to resume supplying the country with sufficient amounts of gas for power generation, after the US granted Baghdad a 90-day waiver to continue to import electricity from Tehran on Dec. 30. “The reason for power shortages in provinces is the continuing slashing of Iranian …

OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market. OPEC and allies including Russia made a record oil output cut in April as the pandemic hit …

World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits. The prediction from the Organization of …

OPEC slashed oil production to the lowest level since the Persian Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again. Saudi Arabia delivered the extra curbs promised in June, and the laggards, though still trailing in …

Iran’s commercial exchanges with China amounted to $5.26 billion during January-April to register a 40.6% decline compared with the 2019 corresponding period. As data from the General Administration of Customs of the People’s Republic of China show, Iran’s exports to China during the four months totaled $2.34 billion, indicating a …