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IRAN Energy News Agency 📬 Office: Unit 32. No 26. Dr Mossadegh St. Mirdamad St. Tehran. Iran ☎️ Tel: +98-2126413997 https://en.iranenergy.news
Turkey is Set to have Europe’s Third-Largest Natural Gas Storage Capacity
Turkey is on track to have the third-largest natural gas storage capacity in Europe, thanks to the planned expansion of storage facilities. Its strategic geographical position makes it a key transit country for natural gas pipelines from various regions, including Russia, the Caucasus, the Middle East and Africa. Enhancing gas storage capacity ensures a more…
https://en.energytoday.ir/turkey-is-set-to-have-europes-third-largest-natural-gas-storage-capacity/
Oil Prices Surge on Red Sea Escalation
Oil prices surged four percent on Jan. 12 after U.S. and UK forces launched strikes against Iran-backed Houthi rebels following their attacks on ships in the Red Sea. Tokyo and European stock markets ended the week with strong gains as traders brushed off data showing U.S. inflation rose more than expected in December. Wall Street…
https://en.energytoday.ir/oil-prices-surge-on-red-sea-escalation/
UK Plans to Build Third New 3.2 GW Nuclear Plant
The United Kingdom government said it is considering a third new-generation nuclear plant with the same power capacity as the under-construction Hinkley C and the approved Sizewell C. The third plant is part of the Civil Nuclear Roadmap announced by the Department of Energy Security and Net Zero (DESNZ) Thursday, which the agency said envisions…
https://en.energytoday.ir/uk-plans-to-build-third-new-3-2-gw-nuclear-plant/
TotalEnergies Expands Stake in Namibian Oil Discovery
Optimizing its position in the global energy sector, the French energy giant TotalEnergies has recently announced an expansion of its holdings in a notable oil discovery located in Namibia, marking a strategic initiative within the industry. The company has recently inked a deal with Impact Oil and Gas Namibia (Pty) Ltd, enhancing its stakes in…
https://en.energytoday.ir/totalenergies-expands-stake-in-namibian-oil-discovery/
World’s Largest Uranium Miner will Miss Production Targets
The world’s largest uranium miner issued a dire warning on Friday concerning its production outlook for 2024, sparking fears that nuclear fuel supply could be at risk. London-based Kazatomprom—the largest uranium miner in the world—said on Friday that sulfuric acid shortages and construction delays at newly discovered deposits could lead to the company missing production…
https://en.energytoday.ir/worlds-largest-uranium-miner-will-miss-production-targets/
EIA Sees U.S. Setting New Oil Production Record in 2025
The EIA’s first outlook for 2025 shows forecasted U.S. crude oil production reading 13.4 million barrels per day—a new record for the country. The Energy Information Administration’s latest Short-Term Energy Outlook report published on Tuesday represents the first peek into predictions for 2025. Those predictions include the United States hitting 13.4 million bpd in crude…
https://en.energytoday.ir/eia-sees-u-s-setting-new-oil-production-record-in-2025/
Russia’s Oil Drilling Boom Proves Moscow’s Resilience to Western Sanctions
Russia was on pace for a second year of record oil drilling in 2023, further evidence of the nation’s resilience to Western sanctions. The boom in activity came alongside a recovery in the both volume and value of Russia’s oil exports, a stark illustration of how the country’s fossil fuel industry has been a crucial…
https://en.energytoday.ir/russias-oil-drilling-boom-proves-moscows-resilience-to-western-sanctions/
China Launches Fusion Consortium to Build “Artificial Sun”
The government of China has formed a new national industrial consortium focused on the development and advancement of nuclear fusion technology, news outlets have reported. The consortium China Fusion Energy Inc. is being led by the China National Nuclear Corporation (CNNC), which has been conducting research and development, construction, production, and operation activities regarding nuclear…
https://en.energytoday.ir/china-launches-fusion-consortium-to-build-artificial-sun/
Big Oil’s Ambitious Decarbonization Strategies have Gone Bust
Back in February 2020, British oil and gas multinational BP Inc. announced an ambitious goal to become net-zero by 2050 through, among other things, aggressively cutting oil and gas production and also undertaking one of the industry’s most expansive renewable electricity build-outs. In April of the same year, deep in the throes of the oil…
https://en.energytoday.ir/big-oils-ambitious-decarbonization-strategies-have-gone-bust/
Equinor Sells off Azerbaijan Oil Assets
Norway's national oil company Equinor has announced that it has sold its shares in two Azerbaijani oil fields and the Baku Tbilisi Ceyhan oil pipeline to Azerbaijan's state oil company SOCAR and will exit from Azerbaijan after 30 years in the country. "Equinor is in the process of reshaping its international oil and gas business,…
https://en.energytoday.ir/equinor-sells-off-azerbaijan-oil-assets/
The Netherlands to Turn on Groningen Gas Output amid Cold Snap
The Dutch government has decided to temporarily extract minimal amounts of natural gas from two sites at the Groningen gas field that was closed last year, as a deep freeze is moving into northwest Europe, boosting demand for space heating and electricity. The Groningen gas fields would be turned off on October 1, 2023, and…
https://en.energytoday.ir/the-netherlands-to-turn-on-groningen-gas-output-amid-cold-snap/
Oil Rises amid Escalating Tensions in the Middle East
Oil prices rose slightly on Tuesday after sliding in the previous session, as markets weighed Middle East tensions against demand worries and rising OPEC supply. Brent crude futures rose 18 cents, or 0.2%, to $76.30 a barrel at 0445 GMT, while U.S. West Texas Intermediate crude futures inched up 0.1%, or 6 cents, to $70.83…
https://en.energytoday.ir/oil-rises-amid-escalating-tensions-in-the-middle-east/
Oil Prices Slump by 4% as Demand Concerns Trump Supply Risks
Oil prices plunged by nearly 4% early on Monday after Saudi Arabia signaled potentially weaker demand ahead by cutting the price of its oil across the board. As of 9:22 a.m. ET on Monday, the U.S. benchmark, WTI Crude, was down by 3.75% to $70.83. The international benchmark, Brent Crude, had slumped by 3.53% on…
https://en.energytoday.ir/oil-prices-slump-by-4-as-demand-concerns-trump-supply-risks/
Saudi Arabia to Cut Crude Oil Prices in all Regions
Saudi Arabia will cut key crude oil prices for buyers in all regions, including its main Asia market, for February amid persistent weakness in the market, Bloomberg reported. State producer Saudi Aramco reduced its flagship Arab Light price to Asia by $2 to $1.50 a barrel above the benchmark. Oil consumption typically eases during February…
https://en.energytoday.ir/saudi-arabia-to-cut-crude-oil-prices-in-all-regions/
Ukraine Doubles Gas Imports from EU and Moldova in 2023
In 2023, Ukraine imported 4.3 billion cubic meters of natural gas from the European Union and Moldova, which is twice as much as in 2022. Gas Transmission System Operator of Ukraine LLC said this in a post on Facebook, Ukrinform reports. "According to the latest data, in 2023, more than 4.3 billion cubic meters of…
https://en.energytoday.ir/ukraine-doubles-gas-imports-from-eu-and-moldova-in-2023/
Tanker Seized by Iran Carrying Turkish Oil Bought from Iraq
Turkey’s main oil refiner Tupras claims that a ship seized by Iran off the coast of Oman was laden with Turkish crude imported from Iraq. Tupras said in a statement that radio communication with the Greek-owned and Tupras-chartered vessel was cut off at around 6:30 a.m. Istanbul time Thursday off the coast of Oman, Al-Monitor…
https://en.energytoday.ir/tanker-seized-by-iran-carrying-turkish-oil-bought-from-iraq/
China’s Oil Imports Hit an Annual Record in 2023
China imported a record-high volume of crude oil last year, beating the previous annual record from 2020, as fuel demand rebounded after the Covid restrictions were abandoned in early 2023. Chinese crude oil imports jumped by 11% year-on-year to 11.28 million barrels per day (bpd) in 2023, according to data from the General Administration of…
https://en.energytoday.ir/chinas-oil-imports-hit-an-annual-record-in-2023/
Kazakhstan Quadruples Grain Exports to China
The easing of the COVID-related sanitary regime at Chinese customs crossings enabled Kazakhstan to quadruple the amount of agricultural goods it exported to the country in 2023 as compared to a year earlier. The 2.2 million tons, which comprised wheat, barley, soybeans, flax and sunflower seeds, that was sent to China last year was not…
https://en.energytoday.ir/kazakhstan-quadruples-grain-exports-to-china/
More Drilling Slowdowns for U.S. Oil, Gas Industry
The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 2 to 619 this week, compared to 775 rigs this same time last year. The number of oil rigs fell…
https://en.energytoday.ir/more-drilling-slowdowns-for-u-s-oil-gas-industry/
China’s Shale Exploration Yields Promising Results
China Petroleum & Chemical Corporation, or Sinopec, has found oil and gas at a shale exploration well in the Sichuan province in the southwest, estimating that the initial flows could lead to the discovery of around 100 million metric tons of hydrocarbons. The Xingye-9 exploration well in the Chongqing municipality tested a daily flow of…
https://en.energytoday.ir/chinas-shale-exploration-yields-promising-results/
Norway Approves Deep-Sea Mining for Critical Minerals
Environmentalists received a blow this week as Norway’s parliament agreed to allow Arctic seabed exploration to mine for critical minerals as it attempted to shift away from its reliance on oil and gas. The decision could make Norway the first country in the world to commercialize deep-sea mining to harvest critical minerals as the electrification-of-everything…
https://en.energytoday.ir/norway-approves-deep-sea-mining-for-critical-minerals/
Red Sea Oil Transport Uninterrupted despite Regional Unrest
Despite missile and drone attacks on container ships in the Red Sea from the Yemeni Houthis, tanker traffic remained stable in December, Reuters has reported, citing vessel tracking data. On a daily basis, the data showed there were 76 tankers carrying crude oil and fuels in the Red Sea. This, Reuters wrote, was just two…
https://en.energytoday.ir/red-sea-oil-transport-uninterrupted-despite-regional-unrest/
TotalEnergies Completes Sale of Fuel Stations in Four EU States
TotalEnergies SE has consummated the divestment of its refueling networks in Belgium, Germany, Luxembourg and the Netherlands to Alimentation Couche-Tard Inc. for EUR 3.4 billion ($3.73 billion). “TotalEnergies will continue to supply fuel to the service stations in these four countries for at least five years, notably from its refineries in Antwerp (Belgium) and Leuna…
https://en.energytoday.ir/totalenergies-completes-sale-of-fuel-stations-in-four-eu-states/
Energy Firms to Test CO2 Capture in Brazil Undersea Oil Field
A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2 in an undersea oilfield off Brazil in an effort to reduce emissions, TotalEnergies said Monday. The pilot unit will separate oil from CO2-rich natural gas at the bottom of the ocean and reinject the gas directly into…
https://en.energytoday.ir/energy-firms-to-test-co2-capture-in-brazil-undersea-oil-field/
Green Shipping Aspirations Challenged by Aging Fleet
The shipping industry is one of the focal points of the energy transition, given the amount of hydrocarbon fuels it uses. Increasingly stringent rules about emissions from that industry have been one tool for pushing it into a transition direction. Another should have been the regular process of scrapping old vessels and their replacement with…
https://en.energytoday.ir/green-shipping-aspirations-challenged-by-aging-fleet/
Unrest in Libya Remains Major Obstacle to Higher Oil Production
Given that Libya still has 48 billion barrels of proved crude oil reserves – the largest in Africa – recent comments from National Oil Corporation (NOC) chairman Farhat Bengdara that it is on track to rise oil production from the circa-1.2 million bpd seen in recent months to 2 million bpd within the next three…
https://en.energytoday.ir/unrest-in-libya-remains-major-obstacle-to-higher-oil-production/
India Fuel Demand Hits 7-Month Peak in December
Fuel demand in India reached the highest level in seven months in December 2023, topping 20 million tons in total, oil ministry data cited by Reuters shows. On a monthly basis, demand was up by 6.2%, while on an annual basis, the increase stood at 2.6%. Among fuels, all but gasoline booked increases in demand.…
https://en.energytoday.ir/india-fuel-demand-hits-7-month-peak-in-december/
France Outstrips Plans, to Build Additional Nuclear Plants beyond 6
France is set to build eight new nuclear plants on top of six already announced, the energy minister has said, arguing more reactors are needed to hit carbon reduction targets. A draft law set to be presented soon recognizes that "we will need nuclear power beyond the six first European Pressurized Reactors" (EPRs) announced by…
https://en.energytoday.ir/france-outstrips-plans-to-build-additional-nuclear-plants-beyond-6/
Canada’s Oil Sands Set for Expansion as Pipeline Nears Completion
Canada’s oil producers plan higher output for this year and expect to earn more from their heavy crude once the long-delayed expanded Trans Mountain Pipeline enters into service. The start date of the Trans Mountain Pipeline Expansion (TMX) is the key uncertainty this year for the Canadian oil industry, the benchmark Canadian heavy oil prices,…
https://en.energytoday.ir/canadas-oil-sands-set-for-expansion-as-pipeline-nears-completion/
Germany Leads the Way in Solar Energy across Europe
According to assessments by the International Renewable Energy Agency in 2022, Germany had an installed photovoltaic capacity of around 67 gigawatts, making it the European country with the greatest solar energy potential. As Statista's Anna Fleck details below, the capacity of the Federal Republic in that year was more than twice as high as Italy's,…
https://en.energytoday.ir/germany-leads-the-way-in-solar-energy-across-europe/