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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
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/
BP Cuts Jobs as Supermajor Scales back EV Charging Unit
BP has cut over a tenth of its workforce in its EV charging business, BP Pulse, as the supermajor is downsizing the division and retreating from several countries to focus on just four key markets, Reuters reported on Monday, quoting sources at the company. BP has cut more than 100 out of BP Pulse’s 900…
https://en.energytoday.ir/bp-cuts-jobs-as-supermajor-scales-back-ev-charging-unit/
Turkmenistan, EU Moot Diversification of Gas Supply Routes
Turkmenistan and the EU discussed the diversification of gas supply routes, Trend reports. According to the Ministry of Foreign Affairs of Turkmenistan, this topic was discussed in Brussels during the participation of the Turkmen delegation headed by Myrat Archayev, Deputy Chairman of the Turkmengaz State Concern, in a meeting of the Turkmenistan-EU Energy Working Group.…
https://en.energytoday.ir/turkmenistan-eu-moot-diversification-of-gas-supply-routes/
Record Surge in Global Coal Capacity Led by China
Continued expansion in China’s coal fleet and a slowdown in plant retirements in the United States and Europe in 2023 resulted in the highest net increase in global operating coal capacity since 2016, research group Global Energy Monitor said in its annual survey. While the slower retirements outside China are expected to be a short-lived…
https://en.energytoday.ir/record-surge-in-global-coal-capacity-led-by-china/
OPEC+ Rules in an Increasingly Tight Oil Market
The OPEC+ group is firmly back in control of the oil market and has the power to have it extremely tight in the second half of the year should it choose to do so, industry executives and hedge fund managers say. The market is growing increasingly bullish on oil, expecting robust global demand growth and…
https://en.energytoday.ir/opec-rules-in-an-increasingly-tight-oil-market/
Russia’s Crude is Trading at $15 above the Price Cap
https://en.energytoday.ir/russias-crude-is-trading-at-15-above-the-price-cap/
U.S. Power Plant Proposals Surge by 90% as Electricity Demand Rises
Proposals for new power generation capacity in the United States have increased by an impressive 90% over the last three years, Bloomberg has reported, in anticipation of a surge in demand for electricity. Notably, some 80% of the proposed capacity is solar plus batteries, with only 3% of proposed power plants to run on natural…
https://en.energytoday.ir/u-s-power-plant-proposals-surge-by-90-as-electricity-demand-rises/
New Zealand Considers ICE Car Import Ban by 2040
The New Zealand government has plans to ban the import of internal combustion engine vehicles by 2040 as part of its net-zero efforts. According to local publication Stuff, a draft document prepared by the country’s Climate Change Commission suggests that “Decarbonising transport will require a rapid increase in electric vehicle (EV) sales so that nearly…
https://en.energytoday.ir/new-zealand-considers-ice-car-import-ban-by-2040/
Exxon’s Expanded UK Refinery to Supply First Diesel in Early 2025
While other international majors are closing down refineries or converting them to biofuel production, ExxonMobil is expanding its UK site and will start delivering diesel from the expanded Fawley refinery in early 2025. ExxonMobil is investing $1 billion (£800 million) in the main construction phase of a new low-sulfur diesel facility at the Fawley refinery,…
https://en.energytoday.ir/exxons-expanded-uk-refinery-to-supply-first-diesel-in-early-2025/
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/
Goldman Sees Limited Upside for Oil Prices despite Rising Geopolitical Risk
Goldman Sachs analysts have brushed off the latest events between Iran and Israel as a bullish factor for oil prices, citing potential hedging by producers. “Our commodities strategists do not expect substantial further upside to oil prices,” the bank said, as quoted by FXStreet, adding that “Hedge funds continued selling US Energy stocks for the…
https://en.energytoday.ir/goldman-sees-limited-upside-for-oil-prices-despite-rising-geopolitical-risk/
EU Gas Storage Nearly 60 Percent Full at End of Heating Season
Natural gas storage facilities in the European Union region were stocked to over 58 percent of capacity as of March 31, when the winter heating season ended, EU Energy Commissioner Kadri Simson has said. “This is the highest level on record at this time of year”, Kadri said in a recent statement by the European…
https://en.energytoday.ir/eu-gas-storage-nearly-60-percent-full-at-end-of-heating-season/
Repsol Unveils 637-MW Solar Farm in Texas
Spanish multi-energy group Repsol SA has wrapped up construction of the 637-MW Frye Solar plant in the US state of Texas, it said on Thursday, hailing it as the largest solar photovoltaic project it has built to date. Frye Solar is equipped with close to one million solar panels installed near the town of Kress,…
https://en.energytoday.ir/repsol-unveils-637-mw-solar-farm-in-texas/
The AI Revolution has a Problem: Energy
Artificial intelligence is helping the oil and gas industry boost output by accelerating drilling and boosting efficiency. It offers similar gains to other industries as well and online platforms and websites with AI-powered chatbots are multiplying fast. But there is a problem. AI consumes massive amounts of electricity. A New Yorker article from last month…
https://en.energytoday.ir/the-ai-revolution-has-a-problem-energy/
The World’s Coal Capacity Hit an all-Time High in 2023
Global coal power capacity hit a record last year driven by China, which built the most new capacity, but also helped by a slowdown in coal power plant retirements across the world. This is according to data from Global Energy Monitor, a transition outlet that tracks energy trends. The data also showed that coal power…
https://en.energytoday.ir/the-worlds-coal-capacity-hit-an-all-time-high-in-2023/
Shell Considers Leaving London Stock Exchange
Shell’s chief executive has floated the possibility of the petrogiant abandoning its “undervalued” London listing. Wael Sawan, who runs the largest company on the FTSE 100, said the embattled London exchange was an “undervalued location” as he joined a raft of global CEOs in complaining about the capital’s equity markets. Shell, he said, was a…
https://en.energytoday.ir/shell-considers-leaving-london-stock-exchange/
Low Natural Gas Prices Curb U.S. Oil Production Gains
U.S. oil producers are not in a rush to significantly boost production despite oil prices hovering at a six-month high, as multi-year low natural gas prices are holding back drilling in parts of the Permian and costs have increased, analysts and industry executives tell Reuters. Last week, WTI crude prices hit their highest level of…
https://en.energytoday.ir/low-natural-gas-prices-curb-u-s-oil-production-gains/
Egypt to Import more LNG over next Four Months to Ensure Summer Supply
Egypt aims to buy more liquefied natural gas shipments over the next four months as the nation aims to avoid a repeat of last year’s chronic blackouts. Egyptian Natural Gas Holding Co. is currently aiming to import at least one shipment a month through July or August, according to people with knowledge of the matter,…
https://en.energytoday.ir/egypt-to-import-more-lng-over-next-four-months-to-ensure-summer-supply/