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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
China’s Coal Country to Boost Output
https://en.energytoday.ir/chinas-coal-country-to-boost-output/
Qatar Believes the World will Need more LNG Projects after 2030
Natural gas in energy supply is not going anywhere and its demand will only rise with growth in economies and global population, which will require additional LNG projects to come online after 2030, the energy minister of one of the biggest LNG exporters, Qatar, said on Wednesday. “Everybody's trying to get the inflation down, so…
https://en.energytoday.ir/qatar-believes-the-world-will-need-more-lng-projects-after-2030/
Caspian Power Trio Aims to Electrify the European Union
Economic integration efforts among CentralAsian-Caspian Basin states are gaining momentum. Azerbaijan, Kazakhstan and Uzbekistan are developing a green energy plan to link their power grids with an eye towards exporting electricity to the European Union. The energy ministers of the three countries announced the signing of a memorandum of understanding in early May to explore…
https://en.energytoday.ir/caspian-power-trio-aims-to-electrify-the-european-union/
UAE and Oman Partner for Renewable Energy and Green Tech Projects
The Middle East is expanding its renewable energy and clean tech sectors at an accelerated pace, as several countries plan for economic diversification beyond oil and gas. While fossil fuels may continue to provide massive revenues for countries such as Saudi Arabia, the UAE, and Qatar, these Middle Eastern states are ensuring they hold a…
https://en.energytoday.ir/uae-and-oman-partner-for-renewable-energy-and-green-tech-projects/
OPEC’s Oil Production Drops ahead of Key Policy Meeting
OPEC saw its crude oil production decline by 48,000 barrels per day (bpd) in April compared to March, the organization’s monthly report showed two weeks before the crucial meeting at which the wider OPEC+ group is set to decide on production levels after June. Total crude oil production of all 12 OPEC members averaged 26.58…
https://en.energytoday.ir/opecs-oil-production-drops-ahead-of-key-policy-meeting/
Eni Looks to Spin off Oil and Gas Projects
Eni is considering spinning off some stakes in oil and gas projects in Asia and Africa to have partners for their development while putting aside more money into lower-carbon energy projects, sources in the Italian major have told Reuters. For years, Eni has been taking a different approach to conventional and green energy development, unlike…
https://en.energytoday.ir/eni-looks-to-spin-off-oil-and-gas-projects/
Kazakhstan in Talks with China on Transit for Uranium Exports
Kazakhstan is in talks with China on transit for export of uranium, the Ministry of Energy of Kazakhstan said. Kazatomprom is transporting uranium to North America and Europe via a port in St. Petersburg. Alternative route is transportation through the Caspian Sea, where the port of Aktau (Kazakhstan), port of Alyat (Azerbaijan) and port of…
https://en.energytoday.ir/kazakhstan-in-talks-with-china-on-transit-for-uranium-exports/
Oil Extends Fall on Signs of Weak Fuel Demand
Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp fuel demand in the world's biggest economy. Brent crude futures slid 25 cents, or 0.3%, to $82.54 a barrel by 0505 GMT, while…
https://en.energytoday.ir/oil-extends-fall-on-signs-of-weak-fuel-demand/
Why Germany is Choosing Natural Gas over Nuclear Power
The world is experiencing a nuclear renaissance. Uranium prices are soaring as the world snaps up nuclear fuel, public favor for nuclear power is at a 10-year high in the United States, Russia is busily expanding its own nuclear energy empire in emerging economies in Africa, and even Japan is moving back to the carbon-free…
https://en.energytoday.ir/why-germany-is-choosing-natural-gas-over-nuclear-power/
Renewable Energy Generated a Record 30% of the World’s Electricity in 2023
Renewable energy accounted for a record 30% share of electricity generation globally last year, driven by growth in solar and wind power, clean energy think tank Ember said in a report on Wednesday. “With record construction of solar and wind in 2023, a new era of falling fossil generation is imminent,” Ember said. Renewable energy…
https://en.energytoday.ir/renewable-energy-generated-a-record-30-of-the-worlds-electricity-in-2023/
Oil Prices Down after US Stockpile Build Signals Weak Demand
Oil prices fell on Wednesday following data indicating an increase in crude inventories in the US, the world's biggest oil consumer. International benchmark Brent crude traded at $82.64 per barrel at 09.31 a.m. local time (0631 GMT), a decrease of 0.62% from the closing price of $83.16 per barrel in the previous trading session. American…
https://en.energytoday.ir/oil-prices-down-after-us-stockpile-build-signals-weak-demand/
Germany Warns Russia against Using Nuclear Weapons in Ukraine War
Following Russia's announcement of drills involving the use of tactical nuclear weapons, German Chancellor Olaf Scholz warned Moscow on Monday against deploying atomic weapons in the Ukraine war. “It is always important to say loudly that nuclear weapons must not be used in this war,” Scholz said at a press briefing in Riga, Latvia's capital,…
https://en.energytoday.ir/germany-warns-russia-against-using-nuclear-weapons-in-ukraine-war/
UAE Plans $13.5 Billion Investment in Brazil Biofuels
The Abu Dhabi sovereign wealth fund’s investment arm, Mubadala Capital, plans to make a substantial investment in biofuels in Brazil, the Financial Times has reported, quoting the head of Mubadala’s Brazilian operations. The $13.5-billion investment in biofuels is part of a broader investment plan for Brazil that may also include setting up a new stock…
https://en.energytoday.ir/uae-plans-13-5-billion-investment-in-brazil-biofuels/
Microsoft and Brookfield Sign $10-Billion Renewable Power Deal
https://en.energytoday.ir/microsoft-and-brookfield-sign-10-billion-renewable-power-deal/
Iraq to Start First West Qurna Gas Production this Year
Iraq will see first natural gas production at its supergiant West Qurna field by the end of this year, Iraqi News reports, citing the Iraqi prime minister and federal energy authorities on Monday. ExxonMobil withdrew from southern Iraq’s West Qurna 1 field in January, handing operations over to PetroChina, which now enjoys the largest stake…
https://en.energytoday.ir/iraq-to-start-first-west-qurna-gas-production-this-year/
EU Courts Kazakhstan and Uzbekistan for Critical Raw Materials
Ramped-up offshore exploration for rare earth metals and minerals, vital components in sought-after products like hybrid vehicles and smartphone screens, continues to cut into China’s long-held position as the primary global supplier. Countries like Australia, the United States, Myanmar, and even nations like Malaysia, Vietnam, Uzbekistan, and Kazakhstan continue to increase their extraction efforts. This…
https://en.energytoday.ir/eu-courts-kazakhstan-and-uzbekistan-for-critical-raw-materials/
Japan Looks to Strike a Balance between Energy Security and Net Zero
Resource-poor Japan is launching the most important energy policy discussions in its post-World War Two history, aiming to strike a balance between the need to boost its energy security with conventional sources and its pledge to become a net-zero economy by 2050. The industry ministry of one of the world’s most industrialized nation, which imports…
https://en.energytoday.ir/japan-looks-to-strike-a-balance-between-energy-security-and-net-zero/
The U.S. Battery Boom is Revolutionizing Renewable Energy
The U.S. has been investing heavily in boosting its battery storage capacity and developing its electric vehicle (EV) battery manufacturing capabilities, and it seems that it has paid off as the country is now home to several massive battery projects with many more in the pipeline. Since the introduction of the Biden Administration’s Inflation Reduction…
https://en.energytoday.ir/the-u-s-battery-boom-is-revolutionizing-renewable-energy/
Japan Sees 50% Surge in Electricity Demand by 2050
Japan would need to increase its electricity output by between 35% and 50% by 2050 to meet a proportionate surge in demand, a government projection has revealed. Japan’s electricity output for this decade is estimated at around 1 trillion kWh but this needs to expand to up to 1.5 trillion kWh by 2050 to satisfy…
https://en.energytoday.ir/japan-sees-50-surge-in-electricity-demand-by-2050/
American Shale Output Heading for 6-Month High in June
After U.S. oil output hit an all-time high in the final two months of 2023 with year-over-year growth clocking in at over 1 million barrels per day, the Energy Information Administration (EIA) said on Monday that American shale output from the top-producing regions would soar to a six-month high in June. In its monthly Drilling…
https://en.energytoday.ir/american-shale-output-heading-for-6-month-high-in-june/
Turkey’s Solar Power Capacity Sees Record Increase in April
Turkey's installed solar power capacity saw a record increase within a single month in April, surging by approximately 1.3 gigawatts (GW) compared to the previous month, according to a report on Sunday. The country's solar power capacity reached 13.9 gigawatts at the end of April, marking a 1.3 gigawatt increase compared to the prior month,…
https://en.energytoday.ir/turkeys-solar-power-capacity-sees-record-increase-in-april/
China Raises Coal, Gas Imports amid Low Prices
China is taking advantage of lower international prices for coal and natural gas to replenish stockpiles of power fuels ahead of another long, hot summer. Gas imports through the end of April jumped 21 percent from the previous year, while coal purchases climbed 13 percent. The increase in coal in particular has defied predictions that…
https://en.energytoday.ir/china-raises-coal-gas-imports-amid-low-prices/
Brazil’s Petrobras to Offer Price Reduction Mechanism for Natgas Distributors
Brazilian state-run oil firm Petrobras approved new commercial arrangements for natural gas sales that could reduce its price to distributors by up to 10%, it said on Friday. In a statement released on its website, the oil giant said it will offer a "price reduction mechanism" for current natural gas contracts, according to their performance.…
https://en.energytoday.ir/brazils-petrobras-to-offer-price-reduction-mechanism-for-natgas-distributors/
Steel Industry Collaboration Ushers in a New Era of Eco-Friendly Manufacturing
ThyssenKrupp recently announced plans to create a 50/50 joint steel manufacturing venture with the Czech Republic’s EP Corporate Group and ThyssenKrupp Steel (TKS). According to the German group, talks are now ongoing between the two parties for the sale of an additional 30% stake in the steelmaker, following an April 26 announcement that EP would…
https://en.energytoday.ir/steel-industry-collaboration-ushers-in-a-new-era-of-eco-friendly-manufacturing/
CNOOC Starts Production at New Gas Development in China’s Bohai Sea
CNOOC Ltd., majority held by state-owned China National Offshore Oil Corp. (CNOOC), said Tuesday it has put onstream a new gas project in the Bohai Sea in northern China, expecting to achieve a peak rate of 5,800 barrels of oil equivalent per day (boepd). CNOOC Ltd. plans 10 development wells in the Bozhong 19-6 Gas…
https://en.energytoday.ir/cnooc-starts-production-at-new-gas-development-in-chinas-bohai-sea/
BP’s Azerbaijani Oil Field could be a Game-Changer for Baku
Azerbaijan will get a welcome earnings boost from BP’s announcement that it has launched production at a new $6-billion facility in Azerbaijan’s giant Azeri-Chirag-Gunashli oil field. The upgrade can boost the field’s output by as much as 25 percent. Dubbed Azeri-Central-East (ACE), the facility consists of a new production platform 130 kilometers offshore in Azerbaijan’s…
https://en.energytoday.ir/bps-azerbaijani-oil-field-could-be-a-game-changer-for-baku/
Chinese Giant Sinopec Eyes Stake in Canadian Cedar LNG Project
China’s state-owned energy giant Sinopec is in talks with Pembina Pipeline Corporation over buying a stake in a planned Canadian LNG project and an offtake agreement for LNG from the facility on the Pacific coast, Reuters reported on Monday, quoting unnamed sources familiar with the development. Pembina is a partner in the proposed Cedar LNG…
https://en.energytoday.ir/chinese-giant-sinopec-eyes-stake-in-canadian-cedar-lng-project/
China Dominated the Global Wind Turbine Market in 2023
https://en.energytoday.ir/china-dominated-the-global-wind-turbine-market-in-2023/
India’s Steel Industry Faces Challenges despite Growing Demand
India has ended the financial year 2023-2024 as a net importer of finished steel, which has sent the alarm bells ringing in industry circles throughout India. Mainly, insiders want to know how the changing import status might affect steel costs and India’s push for self reliance. According to news agency Reuters, as per initial government…
https://en.energytoday.ir/indias-steel-industry-faces-challenges-despite-growing-demand/
Rystad: Global Upstream could See another $150B Merger this Year
So far this year, the global upstream oil and gas market has seen more than $64 billion in mergers and acquisitions, and the year could still see more mega-deals, according to the latest report from Rystad Energy on Monday. While recent deals have focused on the Permian Basin, Rystad says it is looking to other…
https://en.energytoday.ir/rystad-global-upstream-could-see-another-150b-merger-this-year/