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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
OPEC+ Risks Repeat of Boom and Bust as Oil Prices Top $90
The OPEC+ alliance may be risking a repeat of last year’s oil market boom and bust. Brent crude prices shot above $90 a barrel on Thursday and analysts warned of a further increase to $100. The rally came after Saudi Arabia and its partners signaled they’ll continue to squeeze supplies despite robust fuel demand and…
https://en.energytoday.ir/opec-risks-repeat-of-boom-and-bust-as-oil-prices-top-90/
Chinese EV Makers Offer Incentives to Woo Tesla Customers
The competition in China's EV world continues to heat up, as the market becomes more and more saturated. The country's automakers are aggressively trying to take advantage of Tesla's recent price hikes by offering incentives, while at the same time gearing up to compete with the "disruptive" entry of Xiaomi into the market, Bloomberg reported…
https://en.energytoday.ir/chinese-ev-makers-offer-incentives-to-woo-tesla-customers/
Europe Makes it to the Other Side of Winter with Record Levels of Natural Gas
Europe has managed to make it through this winter season with record levels of natural gas in storage, setting it up to head into next winter on solid ground. With the end of March essentially wrapping up the typical winter season, natural gas stores in Europe remain 58.7% full, Gas Infrastructure Europe’s data shows—a new…
https://en.energytoday.ir/europe-makes-it-to-the-other-side-of-winter-with-record-levels-of-natural-gas/
AI’s Rapid Growth Poses a Challenge to Big Tech’s Clean Energy Efforts
For decades, Big Tech has been one of the largest and most innovative proponents of clean energy. Silicon Valley giants have put considerable amounts of money and effort into making their companies greener and supporting renewable energy growth. But in recent years, the conversation around the tech sector’s energy use has changed from one of…
https://en.energytoday.ir/ais-rapid-growth-poses-a-challenge-to-big-techs-clean-energy-efforts/
Big Oil Criticized for Falling Short of Net-Zero Goals
Climate Action 100+, a lobby group comprising many of the world’s biggest asset managers, has criticized Big Oil majors for falling short of a set of criteria devised to assess a company’s preparedness for a net-zero world. The finding, as detailed in a recent Reuters report, is hardly a surprise since it has been a…
https://en.energytoday.ir/big-oil-criticized-for-falling-short-of-net-zero-goals/
UAE Eyeing Investments in Europe’s Nuclear Energy Sector
The United Arab Emirates is considering investments in Europe's nuclear power segment, approaching several European nations to gauge their receptivity to a collaboration, sources familiar with the talks told Reuters this week. The UAE has discussed the possibility of its state-owned Emirates Nuclear Energy Company (ENEC) investing in European power assets, including Britain's, to become…
https://en.energytoday.ir/uae-eyeing-investments-in-europes-nuclear-energy-sector/
OPEC: Oil Industry Needs $11.1 Trillion in Upstream Investment by 2045
The oil industry will need cumulative investments of $11.1 trillion in exploration and production by 2045 to keep pace with growing energy demand and ensure stable supply, OPEC Secretary General Haitham Al Ghais has told Emirati news agency WAM in an interview. “Allocating more investments in the oil industry will contribute to promoting the sustainability…
https://en.energytoday.ir/opec-oil-industry-needs-11-1-trillion-in-upstream-investment-by-2045/
Iraq and Oil Firms Blame each other for Key Oil Pipeline Delays
Iraq’s government and oil companies working in the country’s north blamed each other for delays in resuming a key pipeline to Turkey, divisions that could keep the link shut for even longer. Oil firms’ refusal to deliver Kurdish crude to the federal government for exports is one of the main reasons holding up the pipeline’s…
https://en.energytoday.ir/iraq-and-oil-firms-blame-each-other-for-key-oil-pipeline-delays/
An EU Carbon Tax will Upend the Global LNG Market
The global LNG market could face a sea change in prices and trade flows later this decade if the European Union includes LNG in its carbon border tax. The EU’s Carbon Border Adjustment Mechanism (CBAM), commonly known as the “carbon border tax,” was launched on October 1 in the first transitional phase for imports of…
https://en.energytoday.ir/an-eu-carbon-tax-will-upend-the-global-lng-market/
EIA: US Oil Imports from Iraq Surge by Roughly 510,000 bpd
On Sunday, The US Energy Information Administration (EIA) reported that Iraq's oil exports to the United States increased by 510,000 barrels per day last week. According to the EIA's weekly petroleum status report, US crude oil imports from eight major exporters averaged 5.201 million bpd, up roughly 510,000 bpd compared to the previous week's 4.691…
https://en.energytoday.ir/eia-us-oil-imports-from-iraq-surge-by-roughly-510000-bpd/
Turkey to Look for Oil in Sea of Marmara
The Turkish Petroleum state oil company (TPAO) has received a license to conduct exploration in order to discover oil in the Sea of Marmara, reports Hurriyet daily. Turkish Petroleum has received licenses for oil exploration in the Sea of Marmara off the coast of Tekirdag, Balikesir, and Canakkale. According to these three licenses, oil exploration…
https://en.energytoday.ir/turkey-to-look-for-oil-in-sea-of-marmara/
Offshore Wind Development Costs 30% Higher in United States
Offshore wind development costs are 30% higher in the United States than they are in Europe, Germany’s biggest utility said on Thursday at the CERAWeek conference. According to RWE AG CEO Markus Krebber, the wind industry in the United States lacks maturity. “Offshore wind has become very complicated,” Krebber said, with inflation and supply chain…
https://en.energytoday.ir/offshore-wind-development-costs-30-higher-in-united-states/
Libya, Yemen Eye New Partnerships on Energy
Libyan Prime Minister Abdul Hamid Dbeibeh and his Yemeni counterpart Ahmed bin Mubarak discussed energy cooperation between the countries. A Libyan government statement said the two leaders dwelt on the establishment of new partnerships and cooperation between the countries in the field of energy. During a phone call, the "regional developments, opening new horizons for…
https://en.energytoday.ir/libya-yemen-eye-new-partnerships-on-energy/
One of World’s Largest Semi-Sub Rigs Comes Back to UK Port ahead of Resuming Drilling Gig with BP
A giant semi-submersible rig, which is considered to be one of the largest ones ever built, has gone back to the UK’s Kishorn Port (KPL), a 50/50 joint venture between Ferguson Transport (Spean Bridge) and Leiths (Scotland), to prepare for its return to the drilling campaign with Britain’s energy giant BP in the UK sector…
https://en.energytoday.ir/one-of-worlds-largest-semi-sub-rigs-comes-back-to-uk-port-ahead-of-resuming-drilling-gig-with-bp/
Oil Majors Set to Sanction $125 Billion Upstream Projects in 2024
International oil and gas majors and the Middle East’s national oil companies are expected to give the green light this year to up to 30 projects, worth a total investment of $125 billion and holding an estimated 14 billion barrels of oil equivalent (boe) of resources. That’s the estimate in Wood Mackenzie’s latest analysis of…
https://en.energytoday.ir/oil-majors-set-to-sanction-125-billion-upstream-projects-in-2024/
Qatar Prepares to Dominate the LNG Export Market
Qatar is backing up its massive LNG expansion plans with new orders to charter dozens of new ships as the tiny Gulf gas producer aims to solidify its dominance in the global LNG export market. Last year, the United States overtook Qatar as the world’s largest LNG exporter, but Qatar has a huge expansion program…
https://en.energytoday.ir/qatar-prepares-to-dominate-the-lng-export-market/
Central Asia’s Air Quality among Worst in the World
The air quality in Central Asian states is among the worst in the world, according to corporate study that measured pollution in over 130 countries around the world. The 2023 World Air Quality Report, compiled by Swiss-based IQAir, measured air-borne harmful particles, known as PM2.5, in over 7,800 locations. The findings showed that Central Asia…
https://en.energytoday.ir/central-asias-air-quality-among-worst-in-the-world/
Petrochemicals are Driving 90% of China’s Oil Demand Growth
Last year, Bloomberg caused quite a stir in energy circles when it predicted that global demand for road fuel will peak in 2027. According to Bloomberg, demand for road fuel will hit an all-time high of 49 million barrels per day just three years from now before entering terminal decline. Bloomberg says that rapid adoption…
https://en.energytoday.ir/petrochemicals-are-driving-90-of-chinas-oil-demand-growth/
China, Japan Hold Talks on Water Release from Crippled Nuclear Power Plant
Japan and China have held talks over the release of treated radioactive wastewater from the crippled Fukushima Daiichi nuclear power plant. During the talks held in Dalian, northeastern China on Saturday, the two sides laid out their positions and exchanged opinions on technical matters concerning the treated water, Kyodo News reported, quoting a Japanese Foreign…
https://en.energytoday.ir/china-japan-hold-talks-on-water-release-from-crippled-nuclear-power-plant/
France Sets Ambitious Green Goals for Paris Olympics
For the Qatar 2022 World Cup, the government promised to make the tournament as green as possible through green public transport, massive recycling efforts and reusable venues. However, many questioned whether it would ever be possible to make a World Cup being held in the desert truly green, as it required air-conditioned stadia and vast…
https://en.energytoday.ir/france-sets-ambitious-green-goals-for-paris-olympics/
South Africa won’t Ditch Coal anytime soon
If you’re expecting South Africa will make a quick shift away from coal-fired power in favor of green energy, prepare to be disappointed. Expecting South Africa to quickly give up on coal-fired power would be “very wrong,” South Africa’s energy minister Gwede Mantashe told Bloomberg this week. Instead, South Africa will continue to rely on…
https://en.energytoday.ir/south-africa-wont-ditch-coal-anytime-soon/
The U.S. and EU are at Odds over Fossil Fuel Funding
The United States and the European Union are at odds over how far a ban on fossil fuel loans and guarantees would extend and haven’t reached an agreement at the latest round of talks within the OECD organization of the most developed nations, sources with knowledge of the discussions have told the Financial Times. OECD…
https://en.energytoday.ir/the-u-s-and-eu-are-at-odds-over-fossil-fuel-funding/
TotalEnergies Restarts Production in Denmark’s Biggest Gas Field
The Tyra gas field on Denmark’s side of the North Sea has restarted production, having been shut 2019 for redevelopment, operator TotalEnergies SE said. “At plateau, the Tyra hub will produce 5.7 million cubic meters [201.3 billion cubic feet] of gas and 22,000 barrels of condensate per day, once again making Denmark self-sufficient and a…
https://en.energytoday.ir/totalenergies-restarts-production-in-denmarks-biggest-gas-field/
Azerbaijan Shifts to Renewables Reducing Oil Product Exports
Azerbaijan sharply reduced the export of oil products. In January of this year, Azerbaijan exported 28,058.72 tons of oil products worth 17,434.46 thousand US dollars. The State Customs Committee, the value of the oil products exported by Azerbaijan during the reporting period decreased by 2.6 times and the volume by 2.4 times compared to the…
https://en.energytoday.ir/azerbaijan-shifts-to-renewables-reducing-oil-product-exports/
U.S. has Urged Ukraine to Stop Attacks on Russian Refineries
The United States has repeatedly urged Ukraine to halt its drone attacks on Russian oil refineries due to Washington’s assessment that the strikes could led to Russian retaliation and push up global oil prices, the Financial Times reported on Friday, citing sources familiar with the exchange. The White House has been urging Ukraine’s military intelligence…
https://en.energytoday.ir/u-s-has-urged-ukraine-to-stop-attacks-on-russian-refineries/
PetroChina Buys Venezuelan Crude for New Mega Refinery
PetroChina is welcoming this weekend a cargo of Venezuela’s Merey crude for use at a new huge refinery after the U.S. eased sanctions on Venezuelan oil exports a few months ago. A cargo of Merey is due to arrive in China for the state Chinese energy giant on Saturday, according to Bloomberg’s ship-tracking data and…
https://en.energytoday.ir/petrochina-buys-venezuelan-crude-for-new-mega-refinery/
IEA Chief: No Chance of Hitting Climate Goals without Nuclear Power
The world will need nuclear power generation to reach its emission reduction and net-zero targets, according to Fatih Birol, the executive director of the International Energy Agency (IEA). “Without the support of nuclear power, we have no chance to reach our climate targets on time,” Birol said ahead of a nuclear energy summit in Brussels…
https://en.energytoday.ir/iea-chief-no-chance-of-hitting-climate-goals-without-nuclear-power/
China’s CNOOC to Hold Talks over Oil Exploration in Angola
China National Offshore Oil Corporation (CNOOC) is dispatching a team of top executives to Angola to explore new oil exploration opportunities, reported Reuters. This development comes as Angola, one of Africa’s leading oil producers, seeks to strengthen its energy ties with China, a principal creditor and a crucial market for its oil exports. Angolan authorities…
https://en.energytoday.ir/chinas-cnooc-to-hold-talks-over-oil-exploration-in-angola/
Saudi Arabia’s non-Oil Revenue Hits 50% of GDP
For decades, Saudi Arabia has been regarded as the de facto leader of OPEC and a swing-producer critical to curtailing large price overshoots in either direction. Over the past few years, the Arab nation has borne the lion’s share of OPEC+ production cuts after recently agreeing to cut 1 million barrels per day or nearly…
https://en.energytoday.ir/saudi-arabias-non-oil-revenue-hits-50-of-gdp/
Iraq Reveals Developments in Resuming Oil Export via Turkey
The Iraqi Ministry of Oil revealed, on Saturday the latest developments in the work of technical committees between Baghdad and Erbil to resolve the issue of oil exports from the fields of the Kurdistan Region (KRI) through the Turkish port of Ceyhan. The ministry's spokesperson Asim Jihad told Shafaq News Agency that "technical committees are…
https://en.energytoday.ir/iraq-reveals-developments-in-resuming-oil-export-via-turkey/