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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
Saudis Said to Hand about 60% of Aramco Offer to Foreign Investors
https://en.energytoday.ir/saudis-said-to-hand-about-60-of-aramco-offer-to-foreign-investors/
Growth in U.S. Oil and Gas Output Slows down
Oil and gas production in the United States hit record highs at the end of 2023 but has since trended lower, and the growth in output has slowed year-over-year. U.S. companies have slowed production growth rates as oil prices stabilized at lower levels last year compared to the 2022 highs, and U.S. natural gas prices…
https://en.energytoday.ir/growth-in-u-s-oil-and-gas-output-slows-down/
OPEC+ Ministers Reject Bearish Reaction to “Gradual” Oil Production Increase Plans
OPEC+ ministers rejected oil’s bearish reaction to its decision to gradually boost crude production from October and predicted the market will eventually see that the group’s policy is correct. The alliance remains committed to the stability of the oil market and can react quickly to any changes, ministers from the group’s largest producers said at…
https://en.energytoday.ir/opec-ministers-reject-bearish-reaction-to-gradual-oil-production-increase-plans/
Saudis to Raise at Least $11.2 Billion from Aramco’s Share Sale
The Kingdom of Saudi Arabia is poised to raise at least $11.2 billion from the ongoing secondary offering of shares in Saudi oil giant Aramco, Bloomberg reported on Friday, citing anonymous sources with knowledge of the matter. The Saudi government is expected to sell the 1.545 billion shares of Aramco on offer, or about 0.64%…
https://en.energytoday.ir/saudis-to-raise-at-least-11-2-billion-from-aramcos-share-sale/
Australia Urged to Boost Renewable Investment to Meet Clean Energy Target
Investment in renewable energy projects in Australia rebounded in the first quarter of 2024 from the 2023 lows, but the country needs to further boost its annual investments to meet the government’s 2030 clean energy target, industry body Clean Energy Council said in a report on Friday. The association’s Renewable Projects Quarterly Report for Q1…
https://en.energytoday.ir/australia-urged-to-boost-renewable-investment-to-meet-clean-energy-target/
China’s Sinopec to Build Gas Pipelines for Saudi Aramco in $1-Billion Deal
A subsidiary of China’s energy giant Sinopec has signed a $1.3-billion deal with Saudi Aramco to procure and build pipelines for an expansion of the Kingdom’s natural gas distribution network, the Chinese firm said on Thursday. Under the turn-key fixed-price contract worth $1.3 billion (5.17 billion Saudi riyals), Sinopec International Petroleum Services Corporation, a wholly-owned…
https://en.energytoday.ir/chinas-sinopec-to-build-gas-pipelines-for-saudi-aramco-in-1-billion-deal/
The AI Boom has Sparked M&A Opportunities in the Clean Energy Space
Artificial intelligence is the talk of the town. Fans are promoting it as a way to achieve a swifter energy. Skeptics are pointing out its massive electricity demand. And some companies active in the wind, solar, and battery storage space are getting excited about possible deals—because these deals would save their bread and butter. One…
https://en.energytoday.ir/the-ai-boom-has-sparked-ma-opportunities-in-the-clean-energy-space/
Could Thailand become the next Electric Vehicle Powerhouse?
Several countries are rapidly developing their burgeoning electric vehicle (EV) industries to meet the growing demand for EVs and compete with China when it comes to manufacturing. Asia has come out on top in recent years for producing the cheapest EVs and batteries, even though some of the highest EV demand in the coming years…
https://en.energytoday.ir/could-thailand-become-the-next-electric-vehicle-powerhouse/
Exxon Signs Gas Exploration Deal with Algeria
Exxon has signed a deal with the Algerian government for exploration at two natural gas fields in the North African country. The supermajor, in partnership with Algeria’s state energy firm Sonatrach, will "study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin and the Gourara basin" in the southern part of the…
https://en.energytoday.ir/exxon-signs-gas-exploration-deal-with-algeria/
Chinese Energy Major Inks Oil Deal with Mozambique
The China National Offshore Oil Co, or CNOOC, has signed an exploration and production deal for five oil and gas blocks in Mozambique, Reuters reported, citing a CNOOC statement. The five blocks are offshore the African country, in depths ranging between 500 meters and 2,500 meters, the Chinese state-owned company said. The exploration stage of…
https://en.energytoday.ir/chinese-energy-major-inks-oil-deal-with-mozambique/
Iraq, China Sign Deal for New Gas Field Development
China is making further inroads into Iraqi oil and gas by inking an initial agreement with Iraq’s state-owned Midland Oil Company to develop the Mansuriya gas field with a Chinese-Iraqi consortium. The already-producing Mansuriya field foresees production of 100 million standard cubic feet of gas over a period of 18 months and 300 mscf projected…
https://en.energytoday.ir/iraq-china-sign-deal-for-new-gas-field-development/
Biggest U.S. Pension Fund to Vote against Exxon Board
The United States’ largest pension fund, CalPERS, will vote against the ExxonMobil board at the upcoming May 29 board meeting, in a move designed to block the supermajor’s attempt to sue activist investors who are pressuring it to move more quickly on lowering emissions, Reuters reported on Monday. Activist investors have already withdrawn their resolution,…
https://en.energytoday.ir/biggest-u-s-pension-fund-to-vote-against-exxon-board/
Uzbekistan’s Big Gold Bet Looks Set to Pay off
When it comes to gold, Uzbekistan has bought low and large. Now it is selling high.World Gold Council data shows that Uzbekistan was the world's top gold-selling country in March with 11 tons sold, with only Thailand's 10 tons coming anywhere near in terms of volume. Most other central banks in the world are trying…
https://en.energytoday.ir/uzbekistans-big-gold-bet-looks-set-to-pay-off/
Europe Needs to Address Intermittent Renewables Generation
While solar and wind power installations and power generation are booming in Europe, policymakers need to address the growing gap between baseload capacity and soaring intermittent renewable electricity. Europe still has a lot of work to do in providing flexible and reliable grids to handle the soaring share of renewables in electricity generation and consumption.…
https://en.energytoday.ir/europe-needs-to-address-intermittent-renewables-generation/
New Tech could Make Solar Panels more Efficient
University of Ottawa researchers have now devised a smart approach to optimize solar energy effectiveness. Their innovative method includes incorporating artificial ground reflectors, a simple yet powerful enhancement. The study “Artificial Ground Reflector Size and Position Effects on Energy Yield and Economics of Single Axis Tracked Bifacial Photovoltaics” was published in the journal Progress in…
https://en.energytoday.ir/new-tech-could-make-solar-panels-more-efficient/
High Tech Empowers Asia’s First Cylindrical FPSO Installation in China
Asia's first cylindrical floating production, storage and offloading (FPSO) facility, the Haikui No. 1, approaches completion after the successful connection of its 12th mooring cable at the Liuhua oilfield in the Pearl River Mouth Basin in the South China Sea on Monday. The FPSO facility, a cornerstone of offshore oil and gas processing projects worldwide,…
https://en.energytoday.ir/high-tech-empowers-asias-first-cylindrical-fpso-installation-in-china/
The Hydropower Industry is Facing an Existential Threat
Clean hydropower is produced in several parts of the world with around 60 percent coming from China, Brazil, the United States, Canada, Russia, India, Norway, Venezuela, Sweden, and Japan. Now, more countries want to exploit their hydropower potential as governments worldwide push for a green transition. However, the industry faces a multitude of challenges, mainly…
https://en.energytoday.ir/the-hydropower-industry-is-facing-an-existential-threat/
China’s EV Boom Sparks Trade Tensions with US and EU
The United States and the European Union fear the Chinese electric vehicle competition, the founder and CEO of China’s EV manufacturing giant BYD said on Friday. “There are many examples of politicians in other countries who are worried about EVs in China,” BYD founder, CEO, and chairman Wang Chuanfu said at an industry event in…
https://en.energytoday.ir/chinas-ev-boom-sparks-trade-tensions-with-us-and-eu/
EU to Endorse German Plan to Subsidize 10 GW New Gas Power Capacity
EU competition regulators have given an informal approval to a German plan to offer state support to new natural gas-fired power capacity of 10 gigawatts (GW) that would help stabilize the grid as Europe’s biggest economy is boosting renewables, government and industry sources with knowledge of the talks told Reuters on Friday. Earlier this year,…
https://en.energytoday.ir/eu-to-endorse-german-plan-to-subsidize-10-gw-new-gas-power-capacity/
Foreign Demand Spikes for Saudi Aramco’s $12-Billion Share Offering
The $12-billion secondary share offering of Saudi oil giant Aramco has drawn strong demand from foreign investors, sources with knowledge of the matter told Bloomberg on Thursday. Saudi Aramco launched on Sunday a secondary public offering of 1.545 billion shares of the company, representing approximately 0.64% of the company’s issued shares. Aramcos’s share offer sold…
https://en.energytoday.ir/foreign-demand-spikes-for-saudi-aramcos-12-billion-share-offering/
OPEC’s Oil Production Rises as Iraq Continues to Overproduce
OPEC’s crude oil production rose by 145,000 barrels per day (bpd) in May compared to April, as Iraq continues to pump above its quota and boosted output alongside African producer Nigeria, the monthly Reuters survey showed on Tuesday. OPEC produced a total of 26.63 million bpd in May, an increase of 145,000 bpd compared to…
https://en.energytoday.ir/opecs-oil-production-rises-as-iraq-continues-to-overproduce/
The U.S. is Determined to Revolutionize its Microchip Industry
The U.S. is fighting to become one of the biggest microchip producers in the world in pursuit of taking a leading role in the global green transition. While China continues to dominate the microchip space, several policies spurring green development, technological innovation, and manufacturing are pushing the U.S. ever closer to meeting its microchip production…
https://en.energytoday.ir/the-u-s-is-determined-to-revolutionize-its-microchip-industry/
Bitcoin Miners Make Shift to Renewable Energy
Bitcoin has dominated the news cycle lately, from the recent halving to the 30-plus banks starting their own Bitcoin ETF. Crypto miners have also made the news, buying up local real estate and old industrial buildings across America, from Texas to New York, transforming old forgotten real estate into huge mining super-centers. This includes some…
https://en.energytoday.ir/bitcoin-miners-make-shift-to-renewable-energy/
Kazakhstan Joins EU program to Help Promote a Green Transition
Kazakhstan is considering new procurement standards to maximize the efficiency and effectiveness of state spending while aiming to minimize the environmental harm of public works and services. Government contracts for goods, works and services totaled about $19.7 billion in 2023. In the past, environmental concerns didn’t figure much in state spending. But now, officials are…
https://en.energytoday.ir/kazakhstan-joins-eu-program-to-help-promote-a-green-transition/
Europe’s Natural Gas Prices Rally amid Supply Concerns
European benchmark natural gas prices rallied on Wednesday and early Thursday amid growing supply concerns and forecasts of lower wind power generation later this week. The Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, hit on Wednesday their highest level since January after Austria’s OMV warned the market that Russian state giant…
https://en.energytoday.ir/europes-natural-gas-prices-rally-amid-supply-concerns/
Saudi Crude Oil Exports Rose to 9-Month high in March
Saudi Arabia, the world’s top crude oil exporter, saw its crude shipments rise in March to the highest level in 9 months, the latest data by the Joint Organizations Data Initiative (JODI) showed on Monday. Saudi crude exports rose by 96,000 barrels per day (bpd) in March compared to February, to hit 6.413 million bpd,…
https://en.energytoday.ir/saudi-crude-oil-exports-rose-to-9-month-high-in-march/
Russian Fuel Terminal Resumes Exports after Ukrainian Drone Attack
An oil products export terminal at Russia’s biggest port on the Black Sea, Novorossiysk, has resumed loadings of tankers for exports following a Ukrainian drone attack at the facility last week, Reuters reported on Monday, citing data from LSEG and industry sources. The terminal, Importpischeprom, suspended operations on Friday following a drone attack on Novorossiysk,…
https://en.energytoday.ir/russian-fuel-terminal-resumes-exports-after-ukrainian-drone-attack/
Russia is China’s Top Oil Supplier for the 12th Month in April
Russia became China's top oil supplier in April for the 12th month, with volumes rising 30 per cent from a year earlier, official data showed, as refiners continued to cash in discounted shipments, while supplies from Saudi Arabia fell a quarter on higher prices. China's crude oil imports from Russia, which include supplies sent via…
https://en.energytoday.ir/russia-is-chinas-top-oil-supplier-for-the-12th-month-in-april/
Russia Loses Ground to China in Central Asian Trade
Trade data for 2024 is showing that Kyrgyzstan has an unhealthy dependency on China, even considering a wide discrepancy in figures released by Chinese and Kyrgyz official agencies. Bilateral trade turnover during the first quarter of 2024 totaled $4.815 billion, according to figures compiled by China’s General Customs Administration. The trade imbalance between the two…
https://en.energytoday.ir/russia-loses-ground-to-china-in-central-asian-trade/
LNG Market Faces Disruption as Red Sea Closure Forces Risky Detours
The last LNG carrier that passed the Bab el Mandeb strait off the Yemeni coast did so in February. Since that month, there has been no LNG traffic via the once major energy chokepoint as vessels diverted around Africa—or changed destinations entirely. When the Houthi attacks on ships traversing the Red Sea prompted the redirection…
https://en.energytoday.ir/lng-market-faces-disruption-as-red-sea-closure-forces-risky-detours/