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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
Iran-Turkey Five-Month Trade Exceeds $6b
The value of non-oil trade between Iran and Tukey stood at $6.01 billion in the first five months of the current Iranian calendar year (March 20-August 21), the Islamic Republic of Iran Customs Administration (IRICA) reported. The IRICA report put the weight of the non-oil trade between the two countries at 6.698 million tons. As…
https://en.energytoday.ir/iran-turkey-five-month-trade-exceeds-6b/
Microsoft Faces Scrutiny over AI Services for Fossil Fuel Companies
Microsoft, a company known for its public environmental commitments, is facing criticism for quietly selling AI services to fossil fuel giants. Although Microsoft has committed to being ‘carbon negative’ by 2030, it continues to work with oil companies like ExxonMobil and Chevron to provide the latter with AI technologies that increase oil production. Microsoft has…
https://en.energytoday.ir/microsoft-faces-scrutiny-over-ai-services-for-fossil-fuel-companies/
Iraq’s Oil Exports to US Rise 21,000 bpd Last Week
Iraq’s oil exports to the United States increased last week, according to data released by the US Energy Information Administration (EIA) on Sunday. The EIA's report showed that average US crude oil imports from nine major suppliers reached 5.787 million barrels per day (bpd) last week, an increase of 911,000 bpd from 4.876 million bpd…
https://en.energytoday.ir/iraqs-oil-exports-to-us-rise-21000-bpd-last-week/
Petrostates Push Back against UN Talks on Shift from Fossil Fuels
Several major oil-producing countries, including Saudi Arabia and Russia, are pushing back against talks on an agreement at the upcoming COP29 climate summit to mitigate the use of fossil fuels, negotiators from Western countries told the Financial Times. The group of oil-rich nations, which include Saudi Arabia, Russia, and Bolivia, are hindering efforts for talks…
https://en.energytoday.ir/petrostates-push-back-against-un-talks-on-shift-from-fossil-fuels/
Libya Sees Slow Recovery in Crude Oil Exports
Libya’s crude oil exports are projected to fall by at least 300,000 barrels per day (bpd) in September, despite a modest recovery in production. Analysts at FGE have reported that Libya’s crude production has risen by around 200,000 bpd since the beginning of the month, now standing between 650,000 and 700,000 bpd. However, exports from…
https://en.energytoday.ir/libya-sees-slow-recovery-in-crude-oil-exports/
Saudi Arabia Set to Boost Crude Oil Supply to China in October
Saudi Arabia is expected to increase its crude oil supply to China in October after the world’s top crude exporter cut the prices of the oil it sells in Asia, trade sources told Reuters on Thursday. The Kingdom is set to ship a total of 46 million barrels of its crude to China next month,…
https://en.energytoday.ir/saudi-arabia-set-to-boost-crude-oil-supply-to-china-in-october/
Turkmenistan, Afghanistan Resume Work on Multibillion-Dollar Gas Pipeline Project
Turkmenistan and Afghanistan on Wednesday resumed work on the multibillion-dollar Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. The inaugural ceremony was held in Turkmenistan's Salim Cheshma area and attended by the Taliban administration's acting Prime Minister, Mullah Muhammad Hassan Akhund, the chairman of Turkmenistan's upper chamber of parliament and former Turkmen President Gurbanguly Berdymukhamedov, and Foreign Minister…
https://en.energytoday.ir/turkmenistan-afghanistan-resume-work-on-multibillion-dollar-gas-pipeline-project/
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/
Brazil and Chile Lead Latin America’s Green Energy Revolution
While Latin America and the Caribbean have shown the slowest growth in terms of energy transition in the last decade, Brazil and Chile performed extremely well, ranking in the top 20 performers worldwide, according to the World Economic Forum’s 2024 Fostering Effective Energy Transition Report. Both Latin American countries now have a diverse energy mix,…
https://en.energytoday.ir/brazil-and-chile-lead-latin-americas-green-energy-revolution/
Iran Remains OPEC 3rd Biggest Oil Producer in August
The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.277 million barrels per day (bpd) of crude oil in August, registering a 4,000-bpd increase compared to the previous month. As reported, Iran has maintained its place as OPEC’s third-biggest oil producer after Saudi Arabia and Iraq. Based on secondary…
https://en.energytoday.ir/iran-remains-opec-3rd-biggest-oil-producer-in-august/
Australia Unveils $50 Billion Plan to Lead Global Green Hydrogen Market
Australia looks to develop domestic green hydrogen industry and export clean hydrogen in a bid to become a global hydrogen leader, the government of one of the world’s top LNG exporters said on Friday. The Australian government today published its new National Hydrogen Strategy, which identifies objectives and actions to take and underpin delivery of…
https://en.energytoday.ir/australia-unveils-50-billion-plan-to-lead-global-green-hydrogen-market/
EU’s Increased Electricity Exports to Ukraine Disrupt Regional Market
A significant increase in EU electricity exports to Ukraine in the wake of Russian strikes on its grid has caused a surge in prices in Southeastern Europe, Greece’s Prime Minister has warned. In a letter to European Commission President Ursula von der Leyen cited by the Financial Times, Kyriakos Mitsotakis said that the price for…
https://en.energytoday.ir/eus-increased-electricity-exports-to-ukraine-disrupt-regional-market/
Scotland’s Only Oil Refinery Set to Close in 2025
The Grangemouth refinery, Scotland’s only crude processing facility, is set to close in the second quarter of 2025, its owners confirmed on Thursday, as the refinery has been struggling to compete with the new complex facilities in Asia, Africa, and the Middle East. The Grangemouth refinery, which was opened by the predecessor of BP in…
https://en.energytoday.ir/scotlands-only-oil-refinery-set-to-close-in-2025/
China Urges EV Makers to Keep Key Tech at Home
Chinese authorities have asked local carmaking companies to make sure key electric vehicle technology stays home even as they expand their manufacturing capacity across the world. The government is recommending carmakers to produce the key parts of the cars domestically and then export the so-called knock-down kits to the factories abroad where the vehicles would…
https://en.energytoday.ir/china-urges-ev-makers-to-keep-key-tech-at-home/
Aramco Launches New Initiatives to Advance Digital Solutions and AI in Operations
Saudi Arabian energy giant Aramco has announced a series of new initiatives aimed at bolstering digital development within its operations. These initiatives, unveiled at the Global AI Summit in Riyadh, include partnerships and the deployment of an AI supercomputer. At the summit, Aramco signed memorandums of understanding (MOUs) with Cerebras Systems and FuriosaAI to explore…
https://en.energytoday.ir/aramco-launches-new-initiatives-to-advance-digital-solutions-and-ai-in-operations/
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/