94
IRAN Energy News Agency 📬 Office: Unit 32. No 26. Dr Mossadegh St. Mirdamad St. Tehran. Iran ☎️ Tel: +98-2126413997 https://en.iranenergy.news
PetroChina Books its Highest ever Q1 Profit
PetroChina reported on Monday its highest net profit for a first quarter as its revenues rose by 11% thanks to steady oil prices and higher domestic natural gas demand and production. The Chinese state-held oil and gas giant booked $6.3 billion (45.681 billion Chinese yuan) in net profit for the first quarter of 2024, up…
https://en.energytoday.ir/petrochina-books-its-highest-ever-q1-profit/
Saudi Aramco Seeks Investment Opportunities in New Energies Abroad
Saudi Aramco is currently eyeing potential investments in new energies outside Saudi Arabia, the state oil giant’s chief executive officer Amin Nasser said on Monday. Aramco’s top executive was speaking on the sidelines of the Special Meeting on Global Collaboration, Growth, and Energy for Development by the World Economic Forum (WEF) in the Saudi capital…
https://en.energytoday.ir/saudi-aramco-seeks-investment-opportunities-in-new-energies-abroad/
UAE may Surpass Goal of Tripling Renewable Energy Capacity by 2030
The UAE may surpass its target of tripling renewable energy capacity by 2030 due to low clean energy prices and as more solar capacity is installed to produce green hydrogen, the country's energy minister said on Sunday. Renewable energy is the cheapest and reduces the levelised cost of electricity – the average cost of generating…
https://en.energytoday.ir/uae-may-surpass-goal-of-tripling-renewable-energy-capacity-by-2030/
U.S. Drilling Activity Slips
https://en.energytoday.ir/u-s-drilling-activity-slips/
China’s Coal Prices Set to Soar, Industry Experts Predict
China's coal market is poised for a significant uptick in prices, according to fresh insights from the China Coal Transportation and Distribution Association (CCTD). General Manager Han Lei of CCTD's research department highlighted that domestic thermal coal prices have surpassed 800 yuan ($110.41) per metric ton, which is seen by many in the industry as…
https://en.energytoday.ir/chinas-coal-prices-set-to-soar-industry-experts-predict/
China’s Coal Dependence to Persist despite Global Climate Goals
Amidst global efforts to phase out coal power by 2040, China's coal consumption is unlikely to decrease significantly by that time, according to a new report by Norwegian consultancy DNV. The report indicates that China's coal usage, currently the world's largest, will experience a minor reduction in the next two years, followed by a one-third…
https://en.energytoday.ir/chinas-coal-dependence-to-persist-despite-global-climate-goals/
Venezuela Looks to Crypto for Oil Sales as Sanctions Return
With Venezuelan oil sanctions set to be reimposed and state-run PDVSA oil company buyers and suppliers under orders to close out transactions in line with sanctions by the end of May, the country is now working to shift its oil sales to digital currency. Using Tether, pegged to the U.S. dollar, PDVSA is seeking to…
https://en.energytoday.ir/venezuela-looks-to-crypto-for-oil-sales-as-sanctions-return/
Gazprom Shut down Dozens of Natural Gas Wells ahead of Spring Floods
Russia’s natural gas giant Gazprom had to shut down more than two dozen producing wells during the spring floods in the Orenburg region to keep the gas-producing wells from flooding, the local Gazprom unit said. River and floodwaters rose early this month in the Orenburg region in southwestern Russia near the Ural River in the…
https://en.energytoday.ir/gazprom-shut-down-dozens-of-natural-gas-wells-ahead-of-spring-floods/
Carbon Price Crash Threatens EU Transition Funds
The price of carbon dioxide on the European Union’s emissions trading markets, ETS, has taken a bad tumble. On the face of it, this is good news—it means industries covered by the scheme are emitting less. But in this case, fewer emissions mean less money for the transition. Earlier this year, the price per carbon…
https://en.energytoday.ir/carbon-price-crash-threatens-eu-transition-funds/
Norway Oil and Gas Output up in March
Norway produced 2.1 million barrels of petroleum, natural gas liquids (NGLs) and condensate per day last month, up from the prior month and the corresponding period a year ago, the Norwegian Offshore Directorate has reported. The figure exceeded the forecast by 2.4 percent, the report showed. Daily oil output averaged 1.8 million barrels, while average…
https://en.energytoday.ir/norway-oil-and-gas-output-up-in-march/
U.S. Drilling Activity Inches up
https://en.energytoday.ir/u-s-drilling-activity-inches-up/
FBI Warns of Risk of Chinese Hack Attack on Energy Infrastructure
https://en.energytoday.ir/fbi-warns-of-risk-of-chinese-hack-attack-on-energy-infrastructure/
Transition to Renewables Calls for New Approach to Energy Security
The transition away from fossil fuels to renewables requires a new interpretation of the concept of energy security, according to a new report by the International Renewable Energy Agency (IRENA) published today. Geopolitics of the energy transition: Energy security outlines a multi-dimensional energy security concept for the 21st century. The systemic nature of the ongoing…
https://en.energytoday.ir/transition-to-renewables-calls-for-new-approach-to-energy-security/
U.S. Attracts Europe’s Beleaguered Solar Companies
https://en.energytoday.ir/u-s-attracts-europes-beleaguered-solar-companies/
U.S. CO2 Emissions down 17% since 2005, despite 2022 Increase
U.S. greenhouse gas emissions rose 1.3% in 2022, reflecting post-COVID economic recovery, but declined 17% since 2005, according to the Environmental Protection Agency’s (EPA) Annual US Greenhouse Gas Inventory (GHG Inventory), released every April. The EPA’s neutral policy report has been released annually since its inception in 1993, in accordance with the Paris Agreement and…
https://en.energytoday.ir/u-s-co2-emissions-down-17-since-2005-despite-2022-increase/
G7 Nations Discuss Phasing out Coal-Fired Electricity by 2035
The G7 group of the world’s most industrialized nations are discussing a common target to end their coal-fired power generation by 2035 at an energy ministers’ meeting in Italy, a source close to the talks told Reuters on Monday. The energy, climate, and environment ministers of Canada, France, Germany, Italy, Japan, the United Kingdom, and…
https://en.energytoday.ir/g7-nations-discuss-phasing-out-coal-fired-electricity-by-2035/
The Future of Plastics will Determine the Future of Oil Demand
The UN is this week discussing the future of plastic—or so it would seem on the surface. The UN Global Plastics Treaty negotiations aim to curb plastic pollution by essentially curbing the use of plastics globally. And they look set to fail. The goal is certainly noble. Reducing the massive amount of plastic waste that…
https://en.energytoday.ir/the-future-of-plastics-will-determine-the-future-of-oil-demand/
OPEC’s next Production Decision could be Decided in the UAE
https://en.energytoday.ir/opecs-next-production-decision-could-be-decided-in-the-uae/
OPEC would Open Arms to Namibia, Encourages Investors to Consider
OPEC Secretary General Haitham Al Ghais said in a statement on Wednesday that the group is looking forward to the prospect of a partnership with Namibia, the hottest new oil frontier after Guyana, with new discoveries lining up and first production of 2.6 billion barrels planned for 2030. "We are excited about the potential of…
https://en.energytoday.ir/opec-would-open-arms-to-namibia-encourages-investors-to-consider/
Wind Overtakes Fossil Fuels as the UK’s Largest Power Generation Source
The UK saw two consecutive quarters of wind power overtaking fossil fuels as the single-largest source of electricity generation for the first time, per data from think tank Ember quoted by Reuters columnist Gavin Maguire. In the first quarter of 2024, wind-generated a total of 25.3 terawatt hours (TWh) of Britain’s electricity, higher than the…
https://en.energytoday.ir/wind-overtakes-fossil-fuels-as-the-uks-largest-power-generation-source/
IMF Praises UK’s Digital Infrastructure for AI Readiness
Amid a slew of warnings about slow growth and rising national debt, it was easy to miss that the International Monetary Fund (IMF) had some good news for the UK economy last week. Modelling the potential impact of artificial intelligence (AI) on both UK productivity and output, it suggested that the size of the UK…
https://en.energytoday.ir/imf-praises-uks-digital-infrastructure-for-ai-readiness/
Slump in Coal Production Drags down Poland’s Economic Recovery
https://en.energytoday.ir/slump-in-coal-production-drags-down-polands-economic-recovery/
Global Climate Goals still Unreachable despite Record Renewable Growth
Renewable energy installations reached record highs in 2023, growing at their fastest pace in decades. 510 gigawatts (GW) of renewable energy were added worldwide, representing a 50% increase from 2022, according to figures from the International Energy Agency (IEA)’s annual flagship report on the global status of renewable energy. Projections show that the sector’s expansion…
https://en.energytoday.ir/global-climate-goals-still-unreachable-despite-record-renewable-growth/
China’s New Energy Sector Far from ‘Overcapacity’ against Massive Market Demand
With rapid growth and continuous upgrading in its industrial structure, China has made remarkable progress in the new energy industries in recent years, such as electric vehicles (EVs), solar products and lithium batteries, which has not only met the domestic needs for high-quality development but also cater to the global market, playing a significant role…
https://en.energytoday.ir/chinas-new-energy-sector-far-from-overcapacity-against-massive-market-demand/
Will Namibia become OPEC’s Newest Member?
https://en.energytoday.ir/will-namibia-become-opecs-newest-member/
OPEC+ can Stop an Oil Rally to $100
https://en.energytoday.ir/opec-can-stop-an-oil-rally-to-100/
Geothermal Energy: A Win-Win for Democrats and Republicans?
https://en.energytoday.ir/geothermal-energy-a-win-win-for-democrats-and-republicans/
Europe’s Love Affair with Electric Cars Wanes as Sales Plunge
Europe is "returning to petrol", according to a new article from Yahoo Finance which highlighted Volkswagen's EV sales as the canary in the coalmine. Sales of Volkswagen's electric vehicles have declined by nearly 25% in Europe, with a noticeable shift back to gasoline-powered cars amid waning interest in battery-operated models, the report says. It notes…
https://en.energytoday.ir/europes-love-affair-with-electric-cars-wanes-as-sales-plunge/
China’s Crude Oil Imports Hit a Record High in 2023
China’s crude oil imports hit a record high in 2023, rising by 10% year-over-year and breaking the previous record from 2020 when the world’s top crude oil importer took advantage of the price crash to gorge on cheap crude. Last year, China’s crude oil imports averaged 11.3 million barrels per day (bpd), up by 10%…
https://en.energytoday.ir/chinas-crude-oil-imports-hit-a-record-high-in-2023/
Russia is Bringing back Refining Capacity Hit by Ukrainian Drones
Russia has brought back online some oil refining units in recent weeks, reducing the capacity taken offline by Ukrainian drone hits to around 10%, from 14% at the end of March, calculations by Reuters showed on Monday. The refining capacity in Russia that is currently offline due to drone attacks is now estimated by Reuters…
https://en.energytoday.ir/russia-is-bringing-back-refining-capacity-hit-by-ukrainian-drones/