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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
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/
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/
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/
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/