Japan’s 3 biggest banks are teaming up with major U.S. and European lenders to loan $1 billion to help Kuwait increase oil output, seeking to calm energy markets roiled by Russia’s invasion of Ukraine, Nikkei Asia has reported. Mizuho Bank, Sumitomo Mitsui Banking Corp. and MUFG Bank are making the …
Read More »Iranian South Pars Generated almost $360 Billion in Revenues over the Last 20 Years
Director of Production and Operations of Pars Oil & Gas Company announced the cumulative growth of gas production from South Pars since the beginning of operation in 2002 at about 2,000 billion m3. The duties of Pars Oil & Gas Company are divided into 2 areas of development and production, …
Read More »Novatek Signs Agreement to Supply LNG to China
NovatekNovatek Gas & Power Asia Pte. Ltd., wholly owned subsidiary of Russia’s gas major Novatek, a and Zhejiang Energy Gas Group Co., Ltd, a subsidiary of the Zhejiang Provincial Energy Group have signed a long-term LNG sale and purchase agreement for the LNG produced from the Arctic LNG 2 project. …
Read More »Iran Ready for 10-Fold Increase in Gas Swap from Turkmenistan
Iran’s Oil Minister Javad Owji says natural gas swap from Turkmenistan can increase by up to 10 times in volume terms if Ashgabat agrees to further transfer deals with Tehran. Owji said after a Saturday meeting with Turkmenistan’s visiting Vice President Rashid Meredov that Iran has the infrastructure required for …
Read More »2022 could be a Great Year for OPEC+ Producers
OPEC+ did some surprising things in the past 2 years. 1st, it broke up at the start of the pandemic with its 2 leaders – Saudi Arabia and Russia – turning on each other because of differences of opinion on how the crisis needed to be handled. Then the 2 …
Read More »German Chemicals Giant BASF Creates New Subsidiary for Renewable Energy Activities
BASF announced that the company will bundle its renewable-energy activities under BASF Renewable Energy from 1 January 2022. The company will focus on supplying the BASF Group in Europe with electricity from renewable energies, European electricity trading activities and provide global consulting and expertise on renewables for BASF and group …
Read More »Iran’s 1st Thermal Solar Power Plant to be Launched by 2023
Located near the city of Yazd in central Iran, the new power plant will produce 17 megawatts of clean energy. This unique power plant which is being constructed next to Yazd Combined Cycle Power Plant on a 40-hectare land is aimed to develop clean energy, indigenize the knowledge for the …
Read More »Russia Says $80 Oil Adequately Reflects Market Situation
Current oil prices at around $80 per barrel adequately reflect the situation on the market, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 in an interview after the OPEC+ meeting, Oilprice anaylsed. There are a number of both bullish and bearish factors that will determine where prices will go in …
Read More »Qatar Petroleum Rebrands as QatarEnergy to Reflect Energy Transition Goals
In a press conference, the Minister of State for Energy Affairs and QatarEnergy’s CEO Saad Sherida al-Kaabi revealed the brand name and the logo. Al-Kaabi said: • This follows a historic evolution that saw Qatar Petroleum Company (QPC) transform into Qatar General Petroleum Corporation (QGPC), then becoming Qatar Petroleum (QP), …
Read More »Rosneft Plans Low-Carbon Management Projects with Japanese Companies
Rosneft and the Ministry of Economy, Trade and Industry of Japan (METI) have signed a Memorandum of Cooperation on carbon management. The document is signed to continue the cooperation between the Company and METI and provides for the development of the parties’ interaction to implement lower-carbon projects with the participation …
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