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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
Oil Surges amid Global Escalating Geopolitical Tensions
Oil prices ticked higher on Wednesday after rising more than 1% in the previous session on jitters over global trade disruption and geopolitical tensions in the Middle East following Houthi attacks on ships in the Red Sea. Brent crude futures edged up 6 cents, or 0.1%, to $79.29 a barrel by 0137 GMT while U.S.…
https://en.energytoday.ir/oil-surges-amid-global-escalating-geopolitical-tensions/
Germany Signs $55 Billion Natural Gas Deal with Equinor
Germany’s state-controlled firm Securing Energy for Europe (Sefe) and Equinor signed on Tuesday one of the biggest-ever natural supply deals for Norway’s energy giant worth an estimated $55 billion (50 billion euros). Equinor will supply Germany’s Sefe with around 10 billion cubic meters (bcm) of natural gas per year from January 1, 2024 until 2034,…
https://en.energytoday.ir/germany-signs-55-billion-natural-gas-deal-with-equinor/
Türkiye’s Natural Gas Demand Expected to Reach 53 bcm in 2024
Türkiye’s natural gas demand is expected to increase and reach around 53 billion cubic meters (bcm) in 2024, according to Yaşar Arslan, president of Türkiye’s Natural Gas Distribution Companies' Association (GAZBIR), on Sunday. Arslan told Anadolu Agency (AA) that natural gas consumption this year may remain below the 56 billion cubic meters level announced by…
https://en.energytoday.ir/turkiyes-natural-gas-demand-expected-to-reach-53-bcm-in-2024/
Is Ocean Thermal Energy the Future of Renewable Power?
Ocean thermal energy conversion (OTEC) is the oldest renewable energy technology you’ve never heard of. The idea for the technology, which exploits the differing temperatures in different layers of ocean water to create energy, is almost 150 years old, but is only now gaining traction for practical application. While OTEC will likely never take over…
https://en.energytoday.ir/is-ocean-thermal-energy-the-future-of-renewable-power/
Aramco Starts Unconventional Tight Gas Production at South Ghawar Field
Saudi Arabia’s national petroleum and natural gas company Aramco has started producing unconventional tight gas from its South Ghawar field in Al Hasa Province, 200km east of Riyadh. Aramco has started production two months ahead of schedule, which supports its strategy to increase gas production by more than half from 2021 levels, through 2030. The…
https://en.energytoday.ir/aramco-starts-unconventional-tight-gas-production-at-south-ghawar-field/
Geothermal’s Growing Role in the Global Energy Mix
The U.K. has long had big plans for geothermal energy, having assessed the potential of converting old coal plants into geothermal facilities in recent years. But now other parts of the world are catching up, including several European states and some countries across Africa. As governments seek to diversify their green energy portfolios, many are…
https://en.energytoday.ir/geothermals-growing-role-in-the-global-energy-mix/
Turkmenistan to Present its Oil and Gas Sector to Foreign Energy Companies in Paris
Turkmenistan's oil and gas state corporations will hold an International Forum to Attract Foreign Investments in Turkmenistan's Energy Sector in Paris, France, from April 24 through April 25, 2024, Trend reports. The Forum aims to enhance chances for attracting direct foreign investments in various sectors of Turkmenistan's energy industry, as well as to strengthen regional…
https://en.energytoday.ir/turkmenistan-to-present-its-oil-and-gas-sector-to-foreign-energy-companies-in-paris/
Russia Claims it will Continue to Adapt to Oil Sanctions
Russia is adapting to the increasingly stricter U.S. sanctions on trade with Russian oil and is acting in accordance with its own interests, Kremlin spokesman Dmitry Peskov said on Tuesday, commenting on reports that the United States was looking into punishing more vessels breaching the G7 price cap on Russia’s crude. The price cap mechanism…
https://en.energytoday.ir/russia-claims-it-will-continue-to-adapt-to-oil-sanctions/
Oil Steady with Differing Views from IEA, OPEC Clouding Outlook
Oil steadied after a short-lived relief rally as the market digested differing views on the supply and demand outlook, while an industry report pointed to an expansion in US stockpiles. Global benchmark Brent traded near $83 a barrel, while West Texas Intermediate was above $78. The International Energy Agency said global oil markets won’t be…
https://en.energytoday.ir/oil-steady-with-differing-views-from-iea-opec-clouding-outlook/
World’s Largest 3D-Printed Eco Boat Unveiled in the UAE
Al Seer Marine and Abu Dhabi Maritime, both based in the United Arab Emirates (UAE), have unveiled the world’s first 3D-printed water taxi. On November 6, the companies also secured a Guinness World Records title for the largest 3D-printed boat. “Crafted from 67% recycled materials, this 11.98-meter-long marvel not only represents a technological feat but…
https://en.energytoday.ir/worlds-largest-3d-printed-eco-boat-unveiled-in-the-uae/
Russian Gas Continues to Flow into many EU Countries, including those which Formally Refused it – Gazprom CEO
Russian gas continues to be supplied to a large number of European countries, including the ones which formally refused it, Gazprom CEO Alexei Miller said in an interview with journalist Pavel Zarubin for the Moscow. Kremlin. Putin program on the Rossiya-1 (VGTRK) television channel. "Molecules in the main gas pipeline have no ethnic dimension. Exchange,…
https://en.energytoday.ir/russian-gas-continues-to-flow-into-many-eu-countries-including-those-which-formally-refused-it-gazprom-ceo/
Iran Oil Production Rises in October
Iran, which has gained an exemption from OPEC cuts deal due to U.S. sanctions, increased production to 3.05 million barrels per day (bpd) in October, as pipeline issues that affected production and exports in September were resolved, according to a survey conducted by S&P Global Commodity Insights Platts. Production is now at a five-year high,…
https://en.energytoday.ir/iran-oil-production-rises-in-october/
Iran Exports Non-Oil Goods Worth $1.3b to India in 7 Month
Iran exported non-oil commodities valued at $1.3 billion to India during the first seven months of the current Iranian calendar year (March 21-October 22), the head of the Islamic Republic of Iran Customs Administration (IRICA) announced. According to Mohammad Rezvani-Far, India was the fifth top export destination of Iranian non-oil goods in the mentioned seven-month…
https://en.energytoday.ir/iran-exports-non-oil-goods-worth-1-3b-to-india-in-7-month/
Iraq Backs more OPEC+ Output Cuts as Basra Crudes Post Heavy Losses this Week
Oil prices gained about 2% on Friday as Iraq voiced support for OPEC+'s oil cuts ahead of a meeting in two weeks and as some speculators covered massive short positions ahead of weekend uncertainty. Still, prices settled with weekly losses of 4%, their third straight weekly decline. Despite gaining $0.41 on Friday, Basra crude prices…
https://en.energytoday.ir/iraq-backs-more-opec-output-cuts-as-basra-crudes-post-heavy-losses-this-week/
Turkmenistan Pushes for FIPPA Protection of TAPI Gas Pipeline Investment
Turkmenistan has asked Pakistan to include its investment in the TAPI gas pipeline project under a law that was passed to protect foreign investment in the Reko Diq project, a senior official at the energy ministry told The News on Friday. The Foreign Investment Promotion and Protection Act (FIPPA), 2022, was approved by the parliament…
https://en.energytoday.ir/turkmenistan-pushes-for-fippa-protection-of-tapi-gas-pipeline-investment/
EU Extends Emergency Natural Gas Price Cap through January 2025
The European Union’s energy ministers approved on Tuesday a plan to extend the emergency cap on natural gas prices for another year until the end of January 2025. The original cap on gas prices, the so-called “market correction mechanism,” was introduced at the end of last year to shield industry and households from excessive spikes…
https://en.energytoday.ir/eu-extends-emergency-natural-gas-price-cap-through-january-2025/
Russia Considering Increase of Oil Supply to Uzbekistan
Russia is working on the possibility of increasing exports of oil and petroleum products to Uzbekistan, Deputy Prime Minister Denis Manturov said, Trend reports. The remark was made during the meeting of the intergovernmental commission on economic cooperation between Russia and Uzbekistan. The official noted that, the Russia supports Uzbekistan's desire to develop its own…
https://en.energytoday.ir/russia-considering-increase-of-oil-supply-to-uzbekistan/
Exxon: EU Rules on Methane Curbs may Boost LNG Industry
New rules on curbing methane emissions in Europe’s energy sector may actually boost the case for liquefied natural gas and shouldn’t affect exports from the US. “All of the progress around emissions reduction is positive for the gas business,” Peter Clarke, senior vice president for global LNG at Exxon Mobil Corp., said at the Wood…
https://en.energytoday.ir/exxon-eu-rules-on-methane-curbs-may-boost-lng-industry/
Will Falling Oil Prices Lead to Deeper OPEC+ Cuts?
The bearish positioning of oil traders in recent weeks has led to a sell-off on the market as speculators reduced bullish bets amid resurfaced concerns about the global economy and oil demand. The bullish sentiment from September, when the market was focused on the OPEC+ supply cuts, gave way to a bearish mood in the…
https://en.energytoday.ir/will-falling-oil-prices-lead-to-deeper-opec-cuts/
Energy Companies Optimistic of Global Consensus on Renewable Energy at Cop28
Global energy companies operating in the UAE are optimistic that a consensus can be reached around the Cop28 pledge of tripling renewable energy capacity and doubling energy efficiency by 2030. The US, EU and UAE are rallying other governments to join a global deal on renewables at the UN climate summit in Dubai this month.…
https://en.energytoday.ir/energy-companies-optimistic-of-global-consensus-on-renewable-energy-at-cop28/
Oil Market Faces 21-Million-Barrel Options Risk from WTI at $80
A second bumper oil options expiry in less than a month could inject volatility into crude prices Wednesday. There are about 21 million barrels worth of December $80 calls for US benchmark West Texas Intermediate that are due to expire later today. US crude futures are trading close to $78 a barrel, but a day…
https://en.energytoday.ir/oil-market-faces-21-million-barrel-options-risk-from-wti-at-80/
This Winter could Usher in a Storm for LNG Markets
The spot market for liquefied natural gas (LNG) is calmer than usual for this time of year as inventories in both Europe and Asia are high, and the weather is still mild. Demand in Europe and Asia is rising in November compared to the warmer October, but LNG spot prices in Asia have dropped in…
https://en.energytoday.ir/this-winter-could-usher-in-a-storm-for-lng-markets/
IEA: Clean Energy Jobs Boom Faces Looming Skills Crunch
There were 4.7 million more people employed in clean energy in 2022 than in 2019, according to latest data from influential organisatoin The number of people employed in the energy sector is growing fast, as demand for solar, wind, and other clean energy technologies has soared in all regions of the world. Data published this…
https://en.energytoday.ir/iea-clean-energy-jobs-boom-faces-looming-skills-crunch/
Kazakhstan to Transport more Russian Oil and Gas
Kazakhstan will transport more Russian oil and gas, the country’s president, Kassym-Jomart Tokayev, told Russian daily newspaper Izvestia on Wednesday, a day before Russian President Vladimir Putin’s visit to the Central Asian nation. The Kazakh leader appeared to be warming to the idea of a “gas union” with Russia, which would also involve Uzbekistan. Putin…
https://en.energytoday.ir/kazakhstan-to-transport-more-russian-oil-and-gas/
Oil Prices Drop amid Warning Demand in US, China
Oil prices backed off on Monday, reversing their Friday rally, as renewed concerns over waning demand in the United States and China dented market sentiment. Brent crude futures for January were down 71 cents, or 0.87%, at $80.72 a barrel at 0400 GMT, while the U.S. West Texas Intermediate (WTI) crude futures for December were…
https://en.energytoday.ir/oil-prices-drop-amid-warning-demand-in-us-china/
U.S. Infrastructure Projects Boost Steel Demand
The Construction MMI (Monthly Metals Index) continued to lack strong bullish or bearish pressure month-over-month. Overall, the index only dropped by a minuscule 0.13%. Still, many factors remain at play in the construction industry, which seems to be behind the index components’ steady sideways trends. With the winter months coming, infrastructure construction will likely slow…
https://en.energytoday.ir/u-s-infrastructure-projects-boost-steel-demand/
Toyota Trials Hydrogen-Powered Vehicle on Public Roads in Australia
Toyota Motor said Saturday it is conducting trials in Australia of a vehicle powered by a hydrogen engine, making it the automaker's first such test of the environmentally friendly car on public roads. In the trial from late October through January, a specially modified van from Toyota's HiAce series is being used by local Melbourne…
https://en.energytoday.ir/toyota-trials-hydrogen-powered-vehicle-on-public-roads-in-australia/
Iraq Signs Agreement with ExxonMobil for Exit from West Qurna 1 Field, PetroChina to Take over
The Iraqi Ministry of Oil confirmed on Saturday the finalization of a settlement agreement with ExxonMobil, paving the way for the American energy giant's departure from the West Qurna 1 oil field. Simultaneously, the ministry announced that Chinese company PetroChina would assume the field's leading operator role. Hassan Muhammad, deputy Basra Oil Co. manager in…
https://en.energytoday.ir/iraq-signs-agreement-with-exxonmobil-for-exit-from-west-qurna-1-field-petrochina-to-take-over/
IEA: Global Oil Demand to Peak before 2030 amid Energy Transition
Global demand for oil is set to peak by 2030 driven by the "sufficient" momentum of the clean energy transition toward low-emission energy sources across the global economy, the International Energy Agency said in a recent report. Moves such as greater investment in renewable energy like solar power and the rise in the use of…
https://en.energytoday.ir/iea-global-oil-demand-to-peak-before-2030-amid-energy-transition/
India’s Top Oil Producer Misses Profit Estimate on Weak Prices
State-run Oil and Natural Gas Corp.’s quarterly earnings missed estimates as a slump in production and crude prices offset gains from higher gas rates. The New Delhi-based company’s net income declined 20% from a year earlier to 102.2 billion rupees ($1.2 billion) in the quarter ended September, according to a stock exchange filing. A Bloomberg…
https://en.energytoday.ir/indias-top-oil-producer-misses-profit-estimate-on-weak-prices/