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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
Europe’s Natural Gas Demand and Inventories Rose in July
Natural gas demand in the EU and UK rose in July compared to June, but inventories increased at a faster clip as Europe is moving to stockpile gas ahead of the winter, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday. EU and UK natural gas demand rose by 1.3 bcm…
https://en.energytoday.ir/europes-natural-gas-demand-and-inventories-rose-in-july/
Rosneft Unlikely to Stop Shell’s Sale of German Refinery Stake
Rosneft is likely to fail in its legal challenge against a planned sale of a minority stake in a German refinery that it used to control before Germany took over the Russian oil giant’s assets in the country. Rosneft has a 54% stake in the Schwedt refinery, the fourth-largest refinery in Germany, which gets its…
https://en.energytoday.ir/rosneft-unlikely-to-stop-shells-sale-of-german-refinery-stake/
Gazprom-Friendly Hungary Blames EU for Failing to End Russian Gas Dependence
Hungary’s energy security chief on Wednesday (18 September) slammed the European Union for not providing enough support to help smaller, landlocked countries move away from Russian natural gas. Csaba Marosvari, Hungary’s deputy state secretary for energy security, told attendees at the Gastech conference in Houston that smaller, landlocked states, including Hungary, need more funding to…
https://en.energytoday.ir/gazprom-friendly-hungary-blames-eu-for-failing-to-end-russian-gas-dependence/
Italy Shuts the Door on New Oil Exploration
https://en.energytoday.ir/italy-shuts-the-door-on-new-oil-exploration/
Chinese Refineries Go Bankrupt amid Plummeting Margins
Slumping refining margins amid tepid fuel demand in China have already claimed victims among the refineries in the Shandong province, where two plants operated by chemicals giant Sinochem were declared bankrupt in recent days. Zhenghe Group Co and Shandong Huaxing Petrochemical Group Co were declared bankrupt after creditors failed to agree on restructuring plans for…
https://en.energytoday.ir/chinese-refineries-go-bankrupt-amid-plummeting-margins/
Aramco’s New Deals with China Signal a Further Deepening of Sino-Saudi Relations
A little under a year before the Russian invasion of February 2022, Saudi Aramco’s chief executive officer, Amin Nasser, had spent several days at the annual China Development Forum hosted in Beijing, during which time he stated: “Ensuring the continuing security of China’s energy needs remains our highest priority - not just for the next…
https://en.energytoday.ir/aramcos-new-deals-with-china-signal-a-further-deepening-of-sino-saudi-relations/
BP to Sell its Onshore Wind Business
British oil and gas multinational BP Plc (NYSE:BP) has announced plans to sell its onshore wind business in the U.S., saying the business is not aligned with its growth plans as it seeks to focus on its Lightsource BP solar partnership. The company says it will launch the sale process shortly for BP Wind Energy,…
https://en.energytoday.ir/bp-to-sell-its-onshore-wind-business/
Banks Pledge $386 Billion to Support India’s Renewable Energy Industry
Financial institutions have pledged a total of $386 billion in investment commitments to help India boost its renewable energy industry, Renewables Energy Minister Pralhad Joshi said on Monday. India targets to have 500 gigawatts (GW) of renewables capacity installed by 2030, compared to around 153 GW capacity now. The country will need to install at…
https://en.energytoday.ir/banks-pledge-386-billion-to-support-indias-renewable-energy-industry/
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/
Turkey Signs 10-Year LNG Supply Deal with TotalEnergies
Turkey’s ambitions to become a regional gas hub just received a fresh boost after the country signed a 10-year agreement with French energy giant TotalEnergies (NYSE:TTE), Turkey’s Daily Sabah reported on Wednesday. Under the terms of the deal, the oil and gas supermajor will supply Turkish state energy firm BOTAS with 1.1 million metric tons…
https://en.energytoday.ir/turkey-signs-10-year-lng-supply-deal-with-totalenergies/
China’s Coal Power Generation Returns to Growth
China saw in August the first increase in coal-fired power generation in four months as coal remains a vital part of the system despite soaring output from clean energy sources and a growing share of renewables in the electricity mix. China’s electricity output from thermal sources – which are predominantly coal-fired – increased by 3.7%…
https://en.energytoday.ir/chinas-coal-power-generation-returns-to-growth/
Turkmenistan’s High Gas Prices Hinder Export Deals
https://en.energytoday.ir/turkmenistans-high-gas-prices-hinder-export-deals/
France’s Electricity Prices Turn Negative amid Poor Demand
Power prices in France turned negative for hours on Tuesday morning amid tepid demand in a struggling economy and increased renewables generation. French intraday power prices traded at as low as -$22.25 (-20 euros) per megawatt-hour (MWh) on the Epex Spot exchange, according to data compiled by Bloomberg. So far this year, France’s power demand…
https://en.energytoday.ir/frances-electricity-prices-turn-negative-amid-poor-demand/
U.S. Natural Gas Power is Booming Thanks to AI
U.S. power-generating companies are announcing plans for the highest volume of new natural gas-fired capacity in years as the AI boom is driving demand for electricity. During the first half of 2024, electricity-generating firms unveiled plans for the new gas-powered capacity equal to all capacity announced in 2020, according to data from Sierra Club cited…
https://en.energytoday.ir/u-s-natural-gas-power-is-booming-thanks-to-ai/
Nuclear Power Surpasses Fossil Fuels in South Korea’s Energy Mix
This year, nuclear power has generated more electricity in South Korea than either coal or natural gas for the first time ever, achieving a milestone in one of the world's top importers of fossil fuels. Nuclear power accounted for 32% of South Korea's electricity generation mix in the first half of 2024, ahead of coal…
https://en.energytoday.ir/nuclear-power-surpasses-fossil-fuels-in-south-koreas-energy-mix/
Italy Backs Energy Transition Funding for Developing Economies
Developed economies with higher per-capita emissions could help developing economies to transition away from fossil fuels and accelerate clean energy rollout, Fabio Panetta, the governor of Italy’s Central Bank, said on Monday. The plan would help reduce the overall cost of the energy transition globally, Panetta said at a G7 - IEA Ensuring an Orderly…
https://en.energytoday.ir/italy-backs-energy-transition-funding-for-developing-economies/
Indonesia’s Green Energy Ambitions Hindered by Lack of Climate Finance
Indonesia is the world’s biggest producer of coal, and the world’s 5th largest consumer of the dirtiest fossil fuel. Since 2001, according to figures from the International Energy Agency (IEA), coal production in Indonesia has climbed by 558%, domestic coal consumption has risen 494%, and coal exports have skyrocketed by a whopping 608%. Weaning Indonesia…
https://en.energytoday.ir/indonesias-green-energy-ambitions-hindered-by-lack-of-climate-finance/
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/