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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
IEA Aims to Stabilize LNG Prices with Information-Sharing Plan
The International Energy Agency is looking to set up mechanisms to stabilize natural gas prices and facilitate the sale of excess supplies to countries in need as the protracted war in Ukraine continues to squeeze the global market. The LNG market is smaller than that for crude oil, with much of the fuel sold in…
https://en.energytoday.ir/iea-aims-to-stabilize-lng-prices-with-information-sharing-plan/
Deep-Sea Mining Rush Sparks Environmental Concerns
Over the last year, it has become clear that deep-sea mining for metals and minerals is likely to be approved in some regions of the world, as companies fight for the right to invest in innovative mining projects. There are huge critical mineral reserves worldwide under the seabed, which have made companies increasingly eager to…
https://en.energytoday.ir/deep-sea-mining-rush-sparks-environmental-concerns/
Is China Getting ahead in the Race for Commercial Nuclear Fusion?
https://en.energytoday.ir/is-china-getting-ahead-in-the-race-for-commercial-nuclear-fusion/
BP Predicts Global Oil Demand will Peak in 2025
https://en.energytoday.ir/bp-predicts-global-oil-demand-will-peak-in-2025/
Russia’s Novatek Looks to Market LNG in China
https://en.energytoday.ir/russias-novatek-looks-to-market-lng-in-china/
BP Shares Plummet on $2 Billion Impairment Warning
Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins. The FTSE 100 oil major, which in April surprised investors with a better-than-expected oil and gas trading performance in the…
https://en.energytoday.ir/bp-shares-plummet-on-2-billion-impairment-warning/
Raw Material Shortages Weigh on EU Ammunition Production
The European Union's capacity to produce 155 mm artillery ammunition may be less than half as large as public estimates by senior EU officials indicate, affecting the bloc's ability to keep promises about supplies to Ukraine, Schemes and its partners in a journalistic investigation have found. The finding is a result of months of reporting…
https://en.energytoday.ir/raw-material-shortages-weigh-on-eu-ammunition-production/
Argentina Moves Closer to LNG Exports from Vaca Muerta Shale
Argentina could be a step closer to start exporting LNG and monetizing its huge resource in the Vaca Muerta shale play after maritime LNG infrastructure firm Golar LNG signed a 20-year deal with Pan American Energy (PAE) for the deployment of a Floating Liquefied Natural Gas (FLNG) vessel in Argentina. “The FLNG project will monetize…
https://en.energytoday.ir/argentina-moves-closer-to-lng-exports-from-vaca-muerta-shale/
China Considers Probe into Energy Storage Plants over Fire Risks
China is weighing the possibility of launching industry-wide investigations into its energy storage facilities over concerns about fire risks, Chinese outlet 21st Century Business Herald reported on Monday, citing a source familiar with the plans. The recent boom in energy storage plants in China has led to low utilization rates at these facilities. Because the…
https://en.energytoday.ir/china-considers-probe-into-energy-storage-plants-over-fire-risks/
Qatar Continues to Drive Middle East’s International LNG Trade Flow
Qatar continues to drive the Middle East's international LNG trade flow, Asia in particular, according to the International Gas Union. In its latest report, IGU noted that the LNG trade flow between the Middle East and Asia accounted for 43.29mn tonnes in 2023, driven by Qatar LNG supplies to China, India and Pakistan. In 2023,…
https://en.energytoday.ir/qatar-continues-to-drive-middle-easts-international-lng-trade-flow/
Big Oil to Buy Stakes in UAE’s New LNG Project
International oil and gas majors Shell, BP, and TotalEnergies, as well as Japan’s Mitsui & Co, have agreed to buy 10% each in the new LNG project in the United Arab Emirates, anonymous sources familiar with the plans told Bloomberg on Friday. The international firms will invest in the Ruwais LNG project of Abu Dhabi’s…
https://en.energytoday.ir/big-oil-to-buy-stakes-in-uaes-new-lng-project/
TotalEnergies Set to Leave Gas-Condensate Discoveries Offshore South Africa
TotalEnergies is planning to exit its gas-condensate finds off the South African coast, reported Bloomberg, citing sources familiar with the matter. Instead, the French oil and gas major plans to focus on exploration opportunities closer to Namibia. In 2019, TotalEnergies made a discovery at the Brulpadda field, braving one of the world’s fastest ocean currents…
https://en.energytoday.ir/totalenergies-set-to-leave-gas-condensate-discoveries-offshore-south-africa/
Australia could be Hit by Natural Gas Shortage in 2027
Australia’s east coast could see shortages of natural gas as early as in 2027 unless more supply is made available soon, the Australian Competition and Consumer Commission (ACCC) said in a report on Thursday, adding another warning about the domestic market of one of the world’s biggest LNG exporters. “Long-term solutions to gas market shortfalls…
https://en.energytoday.ir/australia-could-be-hit-by-natural-gas-shortage-in-2027/
Saudi Aramco Bids for Australian Energy Major
Saudi Aramco is considering a takeover bid for Australian energy major Santos, Bloomberg has reported, citing unnamed sources, who also said the UAE’s Adnoc was also studying an offer for the company. The bids were a demonstration of Middle Eastern energy companies’ interest in expanding their natural gas business internationally, the report said. This would…
https://en.energytoday.ir/saudi-aramco-bids-for-australian-energy-major/
EU Gas Imports in First Quarter down YoY
The volume of natural gas imported into the European Union fell by over 11 percent in the first quarter of 2024 compared to the same three-month period a year ago, while the value was more than halved, official figures showed. “The significant decrease in value reflected the declining prices of natural gas after the price…
https://en.energytoday.ir/eu-gas-imports-in-first-quarter-down-yoy/
OPEC+ Cuts and Demand Woes Keep Oil Prices in Narrow Trading Range
Oil prices have remained in a narrow $75 to $90 a barrel trading range since the end of 2022, as the OPEC+ group continues to keep supply off the market but often-resurfacing concerns about global oil demand have dampened bullish sentiment. After spiking to above $100 a barrel in the wake of the Russian invasion…
https://en.energytoday.ir/opec-cuts-and-demand-woes-keep-oil-prices-in-narrow-trading-range/
Wind Power Prices Must Rise to Meet UK’s Clean Energy Goals
The UK’s government must offer higher prices for offshore wind power generation or miss the capacity targets it has set itself, climate think tank Ember has warned. The UK incentivizes new wind and solar capacity by guaranteeing minimum long-term prices for the energy produced from such installations via contracts for difference. Yet the prices that…
https://en.energytoday.ir/wind-power-prices-must-rise-to-meet-uks-clean-energy-goals/
Kpler Data: Saudi Arabia’s Oil Exports Fall to Lowest in Decade
https://en.energytoday.ir/kpler-data-saudi-arabias-oil-exports-fall-to-lowest-in-decade/
OPEC Sticks to Strong Oil Demand Growth Forecasts
https://en.energytoday.ir/opec-sticks-to-strong-oil-demand-growth-forecasts/
The Value of Norway’s Oil Fund Soars to New High of $1.7 Trillion
For the first time in its nearly three-decade history, Norway’s oil fund, the world’s largest sovereign wealth fund, has just exceeded the market value of 18 trillion Norwegian crowns, which equals $1.691 trillion as of Wednesday. Government Pension Fund Global, as the Norwegian fund is officially known, was created in the 1990s and the government…
https://en.energytoday.ir/the-value-of-norways-oil-fund-soars-to-new-high-of-1-7-trillion/
Russian Moguls Received $11 Billion in Dividends in the Past Year
Executives and shareholders of some of the largest companies in Russia have pocketed the equivalent of more than $11 billion in dividends in the past year as many firms resumed dividend payments, a Bloomberg analysis showed on Tuesday. At least 12 Russian executives, former executives, and shareholders of some of the major local firms –…
https://en.energytoday.ir/russian-moguls-received-11-billion-in-dividends-in-the-past-year/
Eni Strikes Natural Gas Offshore Mexico
Italy’s supermajor Eni has announced a new natural gas discovery in the Gulf of Mexico, in the mid-deep waters off the Mexican coast. The discovery contains an estimated potential reserve of 300 to 400 million barrels of oil equivalent, the company said. The block where Eni was drilling for gas is in the Sureste Basin,…
https://en.energytoday.ir/eni-strikes-natural-gas-offshore-mexico/
GM to Pay $146 Million Penalty for Emission Violations
This week, AP and WMAR Baltimore reported that GM would have to pay the government over $146 million in penalties due to 5.9 million of its older vehicles not complying with emissions and fuel standards. The report said that the National Highway Traffic Safety Administration announced on Wednesday that specific GM vehicles from the 2012…
https://en.energytoday.ir/gm-to-pay-146-million-penalty-for-emission-violations/
OPEC+ Oil Production Cheats Show Little Sign of Making Compensation Cuts
In its effort to shore up global oil markets, OPEC+ is pushing members to atone for cheating on their supply quotas. Yet there’s little indication that they’re repenting. Iraq and Kazakhstan — members of the OPEC+ coalition that is paring crude output to defend prices — have pledged extra curbs to make up for failing…
https://en.energytoday.ir/opec-oil-production-cheats-show-little-sign-of-making-compensation-cuts/
China’s Economic Recovery Stumbles as Industrial Output Disappoints
Clearly, China’s economy is not yet back on the recovery track, as evidenced by the mixed bag of data for May released on Monday. According to data from the National Bureau of Statistics (NBS), industrial production in China saw a 5.6% increase in May 2024 compared to May 2023. However, overall production was also down…
https://en.energytoday.ir/chinas-economic-recovery-stumbles-as-industrial-output-disappoints/
Saudi Arabia Discovers 7 more Oil, Gas Deposits
The Kingdom of Saudi Arabia has discovered seven oil and gas deposits in the Kingdom’s Eastern Province and Empty Quarter, the Saudi Press Agency reported. According to SPA, Prince Abdulaziz bin Salman, energy minister announced the discovery on Monday, citing that Saudi Aramco had discovered two unconventional oil fields, a reservoir of light Arabian oil,…
https://en.energytoday.ir/saudi-arabia-discovers-7-more-oil-gas-deposits/
Oil Prices Set to Post another Weekly Gain
Despite a dip yesterday on weak economic data from the United States, crude oil prices were set to end the week with another gain, extending their latest upward streak to a full month. Oil is now at the highest level since April with Brent crude adding some 9% over the past four weeks, according to…
https://en.energytoday.ir/oil-prices-set-to-post-another-weekly-gain/
India’s Steel Industry Battles Cheap Chinese Imports
China has included a Tesla model for the first time in its list of cars the government and party can use as a service car, according to Chinese media. Tesla’s Model Y can now be purchased by government, party, and public organizations in the new batches of new energy vehicle (NEV) procurement, official Chinese media…
https://en.energytoday.ir/indias-steel-industry-battles-cheap-chinese-imports/
Oil Rises on US Crude Inventory Draw, Mideast Tensions
Oil prices rose on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stockpiles, while the market kept tabs on flaring tensions in the Middle East. Brent crude futures edged up 47 cents or 0.5% to $86.71 per barrel at 0330 GMT, touching a 10-week high. U.S. West Texas Intermediate crude futures climbed…
https://en.energytoday.ir/oil-rises-on-us-crude-inventory-draw-mideast-tensions/
Global Crude Oil Shipments Fall in June on Saudi Export Slump
Falling crude oil exports from Saudi Arabia accounted for half of the 1 million barrels per day (bpd) drop in global seaborne shipments in June compared to May, tanker-tracking data compiled by Bloomberg showed on Tuesday. The estimated decline of about 1.08 million bpd in global crude oil shipments was the biggest monthly drop in…
https://en.energytoday.ir/global-crude-oil-shipments-fall-in-june-on-saudi-export-slump/