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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
Russia’s Nuclear Ambitions in Central Asia
Hoping to drum up some much-needed cash to help fuel the Kremlin’s war effort in Ukraine, Rosatom, Russia’s state-controlled nuclear entity, is hyping atomic energy as a “green” solution to Central Asia’s power problems. But Rosatom’s efforts to assuage Central Asian citizens on the safety and greenness of Russian nuclear solutions are undermined by reports…
https://en.energytoday.ir/russias-nuclear-ambitions-in-central-asia/
Oil Down amid Weak Economic Data from US and China
Oil prices declined on Tuesday following weak economic data from China and the US, while growing expectations that the US Federal Reserve (Fed) will lower interest rates and ongoing conflicts in the Middle East limited further price falls. International benchmark Brent crude decreased by 0.2% to $71.69 per barrel at 10.48 a.m. local time (0748…
https://en.energytoday.ir/oil-down-amid-weak-economic-data-from-us-and-china/
European Gas Prices Push Higher as Cold Snap Takes Hold
European natural gas prices edged higher as the season’s first cold snap takes hold, potentially raising demand ahead of the official start of the heating season. Benchmark futures headed toward €38 a megawatt-hour on Tuesday after climbing for three consecutive sessions. Prices are elevated for the time of year and have been prone to volatility…
https://en.energytoday.ir/european-gas-prices-push-higher-as-cold-snap-takes-hold/
China’s LNG Imports to Fall as Natural Gas Storage Nears Capacity
China’s natural gas in storage is nearing capacity, which could spell a decline in imports of liquefied natural gas, Bloomberg has reported, citing data releases from several regional gas storage hubs. If this year’s winter is cold, imports of LNG should remain strong because the gas in storage would be used in full. If the…
https://en.energytoday.ir/chinas-lng-imports-to-fall-as-natural-gas-storage-nears-capacity/
OPEC+ to Begin Oil Production Increase in 2025
The OPEC+ group will begin adding supply to the market in 2025, for the first time since 2022, Jim Burkhard, vice president of research at S&P Global Commodity Insights, said at the Asia Pacific Petroleum Conference (APPEC) on Monday. “We think in 2025 for the first time in a couple of years, first time since…
https://en.energytoday.ir/opec-to-begin-oil-production-increase-in-2025/
China’s Energy Transition is Slowing its Oil Demand Growth
China’s oil demand growth has been slowing down due to weaker economic performance and a shift to electric vehicles and LNG-fueled trucks, oil industry executives said at the APPEC conference in Singapore on Monday. Right now, Chinese oil demand growth has slowed to about 200,000 barrels per day (bpd) each year, compared to 500,000 bpd-600,000…
https://en.energytoday.ir/chinas-energy-transition-is-slowing-its-oil-demand-growth/
Oil Majors and Traders Vye for Shell’s South African Assets
Oil trading giants and the national oil companies of some of the Middle East's biggest oil producers are in the race to buy Shell's South African service stations as they look to expand their access to downstream assets. The world's largest oil firm and oil exporter, Saudi Aramco, the national oil company of Abu Dhabi,…
https://en.energytoday.ir/oil-majors-and-traders-vye-for-shells-south-african-assets/
EIA: Iraqi Oil Exports to US Surge over the Week
The US Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the US had risen during the past week. "In a span of a week, the US imports of crude oil from nine major countries amounted to 4.876 million bpd, down by 732,000 bpd from the previous week, which was 5.608 million…
https://en.energytoday.ir/eia-iraqi-oil-exports-to-us-surge-over-the-week/
Hydropower is on the Rise around the World
In addition to the most popular renewable energy sources – solar and wind power - several countries are investing in the development of their hydropower capacity as they look to diversify their energy mix in pursuit of greater energy security. The hydropower market is valued at an estimated $251.58 billion this year and is expected…
https://en.energytoday.ir/hydropower-is-on-the-rise-around-the-world/
EU’s Gas Supplies could still have Russian Gas Mixed in
The European Union will receive natural gas supplies that may have Russian gas mixed in, Czech energy minister Jozef Sikela told Bloomberg. Sikela has been tapped by the Czech government to be its member of the European Commission, and European Commission President Ursula von der Leyen has been said to already chosen Sikela to head…
https://en.energytoday.ir/eus-gas-supplies-could-still-have-russian-gas-mixed-in/
OPEC Chief Praises Iran’s Former Oil Minister
The secretary general of the Organization of Petroleum Exporting Countries (OPEC) has thanked Iran’s former Oil Minister Javad Oji for his positive contribution to the organization, Tasnim News Agency reported. In a message to Oji, Haitham al-Ghais said: “I have received the news of the change in the oil ministry of your honorable country, in…
https://en.energytoday.ir/opec-chief-praises-irans-former-oil-minister/
OPEC+ Likely to Proceed with Planned Output Hike from October
OPEC+ is set to proceed with a planned oil output hike from October, as Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand, sources from the producer group told Reuters. Eight OPEC+ members are scheduled to boost output by 180,000 barrels per day in October, as…
https://en.energytoday.ir/opec-likely-to-proceed-with-planned-output-hike-from-october/
Libya’s Oil Production Plunges 63% due to Oilfield Closures
Libya's National Oil Corporation said on Friday that recent oilfield closures have caused the loss of approximately 63% of the country's total oil production, as a conflict between rival eastern and western factions continues. The North African country's oil blockade has widened, with eastern leaders demanding western authorities back down over the replacement of the…
https://en.energytoday.ir/libyas-oil-production-plunges-63-due-to-oilfield-closures/
Indian Refiner Expects Domestic Fuel Demand to Rise by 5% Annually
Fuel demand in the world’s third-largest crude oil importer, India, is set to rise by between 4% and 5% per year for the “foreseeable” future, G. Krishnakumar, chairman of India’s state-controlled refiner Bharat Petroleum Corporation Ltd (BPCL), said on Friday. At the same time, Indian consumption of petrochemicals is expected to increase at an even…
https://en.energytoday.ir/indian-refiner-expects-domestic-fuel-demand-to-rise-by-5-annually/
Why OPEC can’t Afford to Reverse Oil Output Cuts
https://en.energytoday.ir/why-opec-cant-afford-to-reverse-oil-output-cuts-2/
Oil Prices Inch up as Gulf Output Disruption Looms Large
Crude oil prices moved higher earlier today on anticipation that tropical storm Francine would disrupt oil and gas production in the Gulf of Mexico. News that Exxon was reportedly cutting production rates at its refinery in Baton Rouge, Louisiana, helped prices move higher. Reuters reported on Tuesday, citing unnamed sources, that Exxon planned to slash…
https://en.energytoday.ir/oil-prices-inch-up-as-gulf-output-disruption-looms-large/
QatarEnergy Inaugurates Rex Tillerson LNG Vessel
QatarEnergy has inaugurated the “Rex Tillerson” liquified natural gas (LNG) vessel in the Chinese city of Shanghai, marking the first such ceremony of the Qatari company’s major shipbuilding programme. Named after the 69th U.S. Secretary of State, the ship was constructed at the Hudong-Zhonghua Shipyard as part of a 12-ship construction programme. This construction is…
https://en.energytoday.ir/qatarenergy-inaugurates-rex-tillerson-lng-vessel/
IAEA: Japan’s Plan to Reuse Decontaminated Soil in Fukushima Safe: IAEA
The International Atomic Energy Agency said Tuesday that Japan's plan to reuse decontaminated soil following the 2011 Fukushima Daiichi nuclear power plant accident is consistent with global safety standards. The U.N. nuclear safety watchdog handed its final expert report to Environment Minister Shintaro Ito in Tokyo on the same day, which could enhance public understanding…
https://en.energytoday.ir/iaea-japans-plan-to-reuse-decontaminated-soil-in-fukushima-safe-iaea/
Can Saudi Arabia Actually Afford Vision 2030?
Saudi Arabia has long prided itself on being the lowest-cost oil producer in the world—and has taken maximum advantage of this fact. Now, with ambitious spending plans for a diversified economy, that lowest cost is becoming less relevant. It’s the breakeven cost of oil that matters. And that’s going up. Earlier this year, the International…
https://en.energytoday.ir/can-saudi-arabia-actually-afford-vision-2030/
Morgan Stanley Slashes its Oil Price Forecast again
Just two weeks after lowering its Brent oil price estimate to $80 per barrel for the fourth quarter, Morgan Stanley cut again its forecast, now expecting the international benchmark to average $75 a barrel in the last quarter of the year. Analysts at Morgan Stanley see rising headwinds on the demand side, which has been…
https://en.energytoday.ir/morgan-stanley-slashes-its-oil-price-forecast-again/
Solving Nuclear Energy’s Biggest Problem
As we go into a new nuclear energy era, there are renewed concerns about what to do with the waste generated from nuclear plants. Nuclear waste is toxic and can remain radioactive for around 10,000 years, meaning that it needs to be disposed of appropriately to ensure people and the environment are kept safe. Despite…
https://en.energytoday.ir/solving-nuclear-energys-biggest-problem/
Russia Investing in Iranian Oil Fields
Iranian Ambassador to Russia Kazem Jalali says that Russia's investment in Iranian oil fields is among the areas of energy cooperation between Tehran and Moscow. "We are cooperating with our Russian partners in the energy sector. First, there are investments by the Russian side in Iranian oil fields. We are interested in gas cooperation. The…
https://en.energytoday.ir/russia-investing-in-iranian-oil-fields/
Oil Sees Biggest Drop in 11 Months as Demand Worries Grow
Oil posted its biggest weekly drop in 11 months as a weak US jobs report added to concerns about tepid demand in the world’s largest consumer of crude. West Texas Intermediate fell 2.1% to settle at $67.67 a barrel, cementing the biggest weekly plunge since October 2023. While the US jobs data released Friday increased…
https://en.energytoday.ir/oil-sees-biggest-drop-in-11-months-as-demand-worries-grow/
Germany Says China’s Emission Reductions are Crucial for Global Goals
The pace at which China will reduce its greenhouse gas emissions will be critical to reaching the global targets to fight climate change, Germany’s climate envoy has said. “What China decides to do in its NDC is probably the most important thing to keeping that 1.5-degree target in sight,” Jennifer Morgan, Germany’s State Secretary and…
https://en.energytoday.ir/germany-says-chinas-emission-reductions-are-crucial-for-global-goals/
Toyota Slashes EV Production Goal amid Global Slowdown
Japan’s Toyota Motor Corporation has drastically cut its electric vehicle production target by 30% compared to previous plans, on the back of the slower EV uptake globally, Nikkei reported on Friday. Toyota, one of the world’s biggest car manufacturers, now aims at rolling out 1 million EVs in 2026, down by 30% compared to its…
https://en.energytoday.ir/toyota-slashes-ev-production-goal-amid-global-slowdown/
Russia Looks to Scale up Arctic LNG Exports as Shadow Fleet Grows
Russia appears to be preparing for an increase in exports from its US-sanctioned Arctic LNG 2 project, prompting warnings of an uptick in the use of high-risk “shadow” tankers. Article LNG 2, a US$20bn facility located in the Gydan Peninsula in northern Russia and developed by Russian energy company Novatek, has been subject to US…
https://en.energytoday.ir/russia-looks-to-scale-up-arctic-lng-exports-as-shadow-fleet-grows/
SOMO: Iraq Cancels 1M Barrels of Crude, Defers more to Meet OPEC+ Targets
Iraq has canceled a 1-million-barrel spot crude sale and will defer two more shipments as part of efforts to comply with its OPEC+ production targets, following overproduction in the first half of the year, a senior official from the state oil marketer SOMO said on August 29 and reported by S&P Global. The three deferred…
https://en.energytoday.ir/somo-iraq-cancels-1m-barrels-of-crude-defers-more-to-meet-opec-targets/
Shell Plans 20% Cut in Oil and Gas Exploration Workforce
Shell is looking to reduce its oil and gas exploration workforce by 20%, reported Reuters, citing sources. The news comes as CEO Wael Sawan makes cost-saving measures to the upstream division, which significantly contributes to the company’s earnings. According to sources, the planned cuts will affect offices globally, notably in Houston, the Hague and Britain.…
https://en.energytoday.ir/shell-plans-20-cut-in-oil-and-gas-exploration-workforce/
Economic Uncertainty Dampens Jet Fuel Demand Outlook
Back in June, the global oil market appeared poised for a resurgence, buoyed by a promising uptick in jet fuel demand. The International Air Transport Association (IATA) projected that passenger numbers would hit a record high this year, sparking hopes of a robust recovery for the beleaguered aviation sector. At the time, Oilprice.com highlighted the…
https://en.energytoday.ir/economic-uncertainty-dampens-jet-fuel-demand-outlook/
Weak Demand in China Weighs on Middle East Oil Price Outlook
hings have taken a bad turn for the Middle East. Asia, by far the largest demand hub for Saudi Arabia, Iraq or the United Arab Emirates, seems to be going through the same stage of weakness that Europe and the United States were in the spring. Not buying enough, depleting crude inventories and generally expecting…
https://en.energytoday.ir/weak-demand-in-china-weighs-on-middle-east-oil-price-outlook/