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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
Are China’s Oil, Coal, and Iron Ore Imports a Sign of Strength or Concern?
News coming out of China indicates the country set new records in 2023 for the import of crude oil, coal, and iron ore. The revelation caught many by surprise, but analysts caution that this may not really signify a robust demand for these essential materials. Nor does it indicate that there has been any reversal…
https://en.energytoday.ir/are-chinas-oil-coal-and-iron-ore-imports-a-sign-of-strength-or-concern/
Red Sea Attack Blazes Oil Prices 1% Higher as Supply Fears Flare
Oil prices surged by 1% on Monday due to concerns over fuel supply following a missile attack on a Trafigura-operated fuel tanker in the Red Sea. Additionally, worries about a decline in Russian refined products intensified as several refineries are undergoing repairs following drone attacks. Brent crude futures experienced an 83-cent increase, reaching $84.38 per…
https://en.energytoday.ir/red-sea-attack-blazes-oil-prices-1-higher-as-supply-fears-flare/
Uzbekistan and China Eye $20 Billion in Bilateral Trade
Uzbekistan and China have set their sights on increasing their trade turnover to $20 billion “in the near future,” following high-level negotiations in Beijing on January 24 between Uzbek President Shavkat Mirziyoyev and Chinese leader Xi Jinping. Bilateral trade in 2023 hit the $14 billion mark. A statement on the Uzbek president’s website attributed this…
https://en.energytoday.ir/uzbekistan-and-china-eye-20-billion-in-bilateral-trade/
US Oil, Gas Drillers Add 1 More Rig as Production Plummets
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. The total rig count rose by 1 to 621 this week, compared to 771 rigs this same time last year. The number of oil rigs rose by…
https://en.energytoday.ir/us-oil-gas-drillers-add-1-more-rig-as-production-plummets/
AI Boom could Slow U.S. Clean Grid Ambitions
Data centers, especially those powering AI technologies, have seen such explosive growth that they are taxing utilities beyond what soaring power demand is calling for. Some utilities in the eastern and southern parts of the U.S. are proposing build-outs of new natural gas-fired capacity alongside renewables to support the growth in electricity consumption coming from…
https://en.energytoday.ir/ai-boom-could-slow-u-s-clean-grid-ambitions/
China’s Record Solar Additions in 2023 Top Entire U.S. Solar Capacity
China installed a record-high solar power capacity last year, with additions in 2023 alone topping the current capacity of the entire U.S. solar fleet. China added as much as 216.9 gigawatts (GW) of solar power capacity in 2023 – a record high, obliterating its previous record of 87.4 GW of solar power additions 2022, according…
https://en.energytoday.ir/chinas-record-solar-additions-in-2023-top-entire-u-s-solar-capacity/
Russia Sees Alternative Gas Routes if Ukraine Transit Deal isn’t Extended
Russia could use alternative routes to send natural gas via pipeline to Europe if the current Russia-Ukraine gas transit deal is not extended beyond its expiry date at the end of 2024, Kremlin spokesman Dmitry Peskov said on Friday. Peskov, however, warned that there would be logistics changes along the supply chain of gas from…
https://en.energytoday.ir/russia-sees-alternative-gas-routes-if-ukraine-transit-deal-isnt-extended/
Offshore Oil is Booming with Vessel Markets Near all-Time High
The U.S. oil and gas sector has kicked off the new year on the backfoot with market sentiment as bearish as it was a year ago. Commodity analysts at Standard Chartered have reported that demand pessimism is once again dominating, with traders worried that oil demand will weaken in the U.S. and Europe. Part of…
https://en.energytoday.ir/offshore-oil-is-booming-with-vessel-markets-near-all-time-high/
Qatar Pauses LNG Shipments via Red Sea after US-led Airstrikes
Qatar appears to have paused sending liquefied natural gas tankers through the Bab el-Mandeb Strait after US-led airstrikes on Houthi targets in Yemen raised risks in the vital waterway. At least five LNG vessels operated by Qatar that were heading toward the passage at the southern end of the Red Sea have been halted since…
https://en.energytoday.ir/qatar-pauses-lng-shipments-via-red-sea-after-us-led-airstrikes/
Oil Declines as Tough Outlook Overshadows Middle East Tensions
Oil edged higher as the risk that airstrikes by the US and allies against the Houthis would ignite a wider conflict and disrupt crude flows from the Middle East was balanced by soft fundamentals. Brent crude rose toward $79 a barrel and West Texas Intermediate was near $73 after the US followed up the initial…
https://en.energytoday.ir/oil-declines-as-tough-outlook-overshadows-middle-east-tensions/
Norway to Boost Oil and Gas Exploration
Oil and gas companies plan to boost exploration activity and spending offshore Norway this year as Western Europe’s top oil and gas producer looks to maintain production and raise exports to the rest of Europe. Currently, most exploration efforts are focused on areas around existing infrastructure so discoveries can be tied back quickly and create…
https://en.energytoday.ir/norway-to-boost-oil-and-gas-exploration/
Iran to Invest $275 bln for Developing Oil, Gas Fields by 2041
The manager of the National Iranian Oil Company (NIOC) for planning affairs said the country is going to invest about $275 billion by 2041 for the development of the oil and gas fields. Speaking at the First Conference of Managers of the National Iranian Oil Company, Ahmad Rajabi stated that strategic plans have been defined…
https://en.energytoday.ir/iran-to-invest-275-bln-for-developing-oil-gas-fields-by-2041/
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/
Russia Cuts LNG Exports due to Sanctions
Sibur, Russia’s largest petrochemical company and exporter of liquefied petroleum gas (LNG), is cutting fuel exports from the Baltic port of Ust-Luga due to a shortage of gas tankers amid Western sanctions. According to Ukrinform, Reuters reports this with reference to industry sources. It is noted that the reduction in supplies further undermines Russian fuel…
https://en.energytoday.ir/russia-cuts-lng-exports-due-to-sanctions/
Iraqi Oil Exports Exceed $8 bn in December
The Ministry of Oil announced on Sunday that the total oil exports and achieved financial revenues for last December surpassed $8 billion, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO). In a statement today, the ministry reported that the quantity of crude oil exports reached 108,056,590 barrels, generating revenues of…
https://en.energytoday.ir/iraqi-oil-exports-exceed-8-bn-in-december/
Saudi Aramco Ramps up Oil and Oil Product Transportation through Red Sea
The Saudi Arabian Oil Group (Aramco), the world's largest oil company, will continue to ship oil and fuel through the southern Red Sea, Trend reports. "We are navigating through the Red Sea with our oil and oil product cargoes, we find the associated risks manageable," the company’s spokesman said. Aramco's decision stands in contrast to…
https://en.energytoday.ir/saudi-aramco-ramps-up-oil-and-oil-product-transportation-through-red-sea/
Libya Eyes Oil Comeback despite Political Divide
Over the last decade, Libya has struggled to get its oil industry back on track due to political disruptions and a lack of foreign investment in the sector. Years of political unrest drove foreign investors out of the market, leaving many oil operations to sit untouched for years and driving oil output down. Achieving high…
https://en.energytoday.ir/libya-eyes-oil-comeback-despite-political-divide/
Basra Crude Records Weekly Gains with Global Oil Price Increase
Basra crude experienced weekly gains as global oil prices increased for the fourth consecutive week. Basra Heavy crude closed its last session with a rise of 1.45 cents, reaching $77.61. It recorded weekly gains of $4.3, equivalent to 5.87%. Basra Intermediate crude closed its last session with an increase of 1.45, reaching $80.84, and posted…
https://en.energytoday.ir/basra-crude-records-weekly-gains-with-global-oil-price-increase/
Biden Administration Halts Approvals of New LNG Export Projects
The Biden Administration said on Friday it is pausing all pending decisions on U.S. LNG export projects until the Department of Energy can update the underlying analyses for authorizations. The move was hailed as a “historic win” by environmentalists and slammed as “a win for Russia” by the U.S. oil lobby. During the temporary pause…
https://en.energytoday.ir/biden-administration-halts-approvals-of-new-lng-export-projects/
Red Sea Shipping Crisis Rekindles Inflation Fears
The Houthi attacks on commercial shipping in the Red Sea have forced many tanker and container ship operators to reroute voyages via Africa, which has increased travel times, delayed goods delivery, disrupted supply chains, and raised shipping costs. The disruption to traffic via the Red Sea/Suez Canal route could continue for months and ultimately result…
https://en.energytoday.ir/red-sea-shipping-crisis-rekindles-inflation-fears/
Oil Price up with Ongoing Middle East Tension
Both crude benchmarks continued to rally on Monday, with rising tension in the Middle East after the US and the UK carried out strikes on multiple Houthi targets in Yemen last week. The international benchmark crude Brent traded at $78.51 per barrel at 11 a.m. local time (0800 GMT), a 0.28% increase from the closing…
https://en.energytoday.ir/oil-price-up-with-ongoing-middle-east-tension/
TotalEnergies Takes Investment Decision on Gas Project
Managing Director and Country Chair, TotalEnergies Exploration and Production (E&P) Nigeria Limited, Matthieu Bouyer has said the company would take the final investment decision (FID) on the Ubeta gas project in 2024, while some other big projects would follow shortly. Bouyer made this disclosure when he led senior officials of the company to visit the…
https://en.energytoday.ir/totalenergies-takes-investment-decision-on-gas-project/
Copper’s Critical Role in Green Energy Transition
In the Autumn of 2023, the International Copper Study Group (ICSG) forecast that the copper market was likely to experience a significant surplus of the metal in 2024 after several companies worldwide ramped up their operations in response to the growing global demand. However, by the end of the year, updated forecasts suggested that copper…
https://en.energytoday.ir/coppers-critical-role-in-green-energy-transition/
Russia Sets New Record for Daily Gas Deliveries to China
The Russian energy giant Gazprom announced on Saturday that it set a new record for daily gas deliveries to China on Jan. 12. "The supply via the Power of Siberia gas pipeline has again exceeded the company's daily contractual obligations," the company said in a statement, without specifying how many hydrocarbons were supplied. Gazprom said…
https://en.energytoday.ir/russia-sets-new-record-for-daily-gas-deliveries-to-china/
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/