Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
The first two months of the year saw a 7.8% decline in power demand as a result of industrial and commercial stagnation.
Read More »China Sees Power Demand Dip Lower than in 2008 Recession
Renewables Account for Almost Three Quarters of New Capacity in 2019
The renewable energy sector added 176GW of generating capacity globally in 2019, marginally lower than the 179GW added in 2018, IRENA says.
Read More »OPEC+ May Clinch 3-Months Accord for Output Cut
Changes are reportedly high for countries part of the OPEC+ group to agree upon implementing oil production cuts for at least three months from May to July, 2020.
Read More »Oil Prices Gain as OPEC Meeting Looms
Crude oil prices were up on Wednesday as the upcoming meeting between OPEC and its allies, known as OPEC+, give hope to investors of potential support to prices. International benchmark Brent crude was trading at $32.32 per barrel at 0620 GMT for a 1.4% increase after it closed Tuesday at …
Read More »Meeting of OPEC+ Ministers Scheduled for April 9
The meeting of ministers of OPEC and countries outside the cartel (OPEC+) is scheduled for April 9, 2020, Advisor to Azerbaijan’s Minister of Energy Zamina Aliyeva told Trend on April 7. Azerbaijan is ready to make its contribution to the process of global regulation of the oil market in order …
Read More »Innogy Enters Taiwan’s Offshore Wind Market
The company has sealed an agreement with Asia Cement Corporation to continue the development of a 448MW offshore wind project.
Read More »World may Face Food Scarcity Due to Pandemic
Punjab Minister for Energy Dr Akhtar Malik has said countries around the world could face food scarcity due to the coronavirus pandemic. He expressed these views while chairing a meeting to review wheat procurement in Circuit House on Monday. The meeting was attended by Provincial Parliamentary Secretary for Information Nadeem …
Read More »G20 Has Little to Gain from OPEC+ Oil Cuts Deal
G20 energy ministers have agreed to hold an emergency meeting on Friday to discuss global collaboration with OPEC+ oil production cuts. Boosting the price of crude is an economic imperative for members such as Saudi Arabia and Russia, but the majority of the group of major economies arguably have more …
Read More »Gulf Oil Producers Brace for Budget Deficits
States in the Persian Gulf region understandably are ramping up spending in the midst of the Covid-19 pandemic. But their income also is in sharp decline as oil prices test lows. They must thus decide how to cover newfound deficits as oil trades in the US$20-$35-per-barrel range, and natural gas …
Read More »Total Value of Gas Wasted Through Flaring Reached $19bn in 2019
A new study reveals ten countries combined currently flare more than 9.5 billion cubic feet of gas everyday.
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