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German gas grid operator OGE joins hydrogen pipeline project

2 years ago

18 October 2023

1:51 PM

German gas grid operator Open Grid Europe (OGE) is joining its French, Spanish and Portuguese peers working to develop a multibillion-euro hydrogen pipeline connecting the Iberian peninsula to France and on to Central Europe, Chief Financial Officer Frank Reiners said on Wednesday.

Oil spikes as Middle East strife heightens supply concerns

2 years ago

18 October 2023

1:48 PM

Global oil benchmark Brent hit $93 a barrel on Wednesday as the risk of escalating conflict in the Middle East threatened to disrupt oil supplies from the region, with Iran calling for an oil embargo to be imposed on Israel.

Financials lead slide in Indian shares; oil prices, US rates woes weigh

2 years ago

18 October 2023

1:43 PM

Indian shares declined on Wednesday as Bajaj Finance led a slide in financials after disappointing results and due to nagging concerns about elevated oil prices and U.S. interest rates as well as the Middle East conflict.

IRISL invests $7.2m in Assaluyeh Port

2 years ago

18 October 2023

1:25 PM

The Islamic Republic of Iran Shipping Lines (IRISL) has invested 3.7 trillion rials (about $7.2 million) in Assaluyeh’s Pars Port to begin port operating services in the mentioned port, IRIB reported.

Iran, Belarus sign oil cooperation document

2 years ago

18 October 2023

1:00 PM

Iran and Belarus signed a document on cooperation in the oil sector in the Belarusian capital Minsk on Tuesday.

Oil producer Suncor tells Canadian lawmakers it is sticking to climate goals

2 years ago

17 October 2023

2:00 PM

RoydadNaft – Canada’s second-largest oil producer, Suncor Energy, told Canadian lawmakers on Monday that the company remains committed to cutting carbon emissions, after its CEO’s…

Indian Point NY plant moves spent nuclear fuel to dry cask storage

2 years ago

17 October 2023

1:57 PM

The Indian Point nuclear power plant in Buchanan, New York, has transferred all spent nuclear fuel to dry cask storage in a move towards decommissioning the plant, the New York State Department of Public Service and Indian Point Closure Task Force said on Monday.

Israel-Palestinian conflict tests Japan’s oil diplomacy

2 years ago

17 October 2023

1:55 PM

As Tokyo scrambled to respond to Hamas attacks on Israel this month, Japanese officials found themselves debating a perennial fear: what does it mean for the resource-poor nation's oil lifeline from the Middle East?

Some of lost European gas demand may be gone for good – Vitol CEO

2 years ago

17 October 2023

1:50 PM

The chief executive of Vitol, the world's top independent energy trader, said on Tuesday that some of the lost demand for gas in Europe following a recent spike in prices may be gone for good.

Oil prices in the balance ahead of Biden Middle East trip

2 years ago

17 October 2023

1:45 PM

Oil steadied on Tuesday after sliding more than $1 the day before ahead of a trip by U.S. President Joe Biden to the Middle East that is likely to involve balancing support for Israel with containing a regional escalation of its war with Hamas.

Petchem output rises 7% in 6 months yr/yr

2 years ago

17 October 2023

1:30 PM

Iran’s petrochemical production in the first six months of the current Iranian calendar year (March 21-September 22) has risen seven percent compared to the same period of time in the past year, according to an official in the National Petrochemical Company (NPC).

Iran’s oil minister accompanying first VP on Belarus trip

2 years ago

17 October 2023

1:28 PM

Iran’s Oil Minister Javad Owji is accompanying First Vice President Mohammad Mokhber on a trip to Belarus on Tuesday.

Iran oil production to hit 3.5m bpd by mid-March 2024: NIOC CEO

2 years ago

17 October 2023

1:25 PM

Iran’s oil production will increase to 3.5 million barrels per day from 3.3m bpd by the end of the current Iranian calendar year (March 19, 2024), said the National Iranian Oil Company (NIOC) managing director on Monday.

Saudi Arabia’s crude exports drop to 28-month low in August

2 years ago

16 October 2023

2:48 PM

Saudi Arabia's crude oil exports in August hit their lowest level in 28 months as they fell for a fifth straight month, data from the Joint Organizations Data Initiative (JODI) showed on Monday.

As India frowns on paying for Russian oil with yuan, some payments held up

2 years ago

16 October 2023

2:45 PM

The Indian government's discomfort over letting state-controlled refiners pay for Russian oil imports with Chinese currency has held up the payment for at least seven cargoes, people with direct knowledge of the matter said.

Iraq, UAE’s Crescent launch deals to develop three oil and gas fields

2 years ago

16 October 2023

2:41 PM

Iraq has launched three energy contracts with UAE-based Crescent Petroleum to develop three oil and gas fields in Iraq, the oil ministry said on Sunday.

Azerbaijan says BP reduced oil production there by 1.5 mln tons Y/Y in Jan-Sept 2023

2 years ago

16 October 2023

2:38 PM

Oil production at the Azeri-Chirag-Gunashli field block operated by BP in Azerbaijan fell to 13.5 million metric tons in January-September 2023 from 15 million metric tons in the first nine months of 2022, the country's Energy Ministry said on Monday.

Oil prices steady above $90 as investors assess Israel-Hamas war

2 years ago

16 October 2023

2:18 PM

Brent oil futures steadied above $90 a barrel on Monday after topping that level on Friday, as investors waited to see if the Israel-Hamas conflict escalates further.

Trade between Iran-U.S. stands at $33.4m in 8 months

2 years ago

16 October 2023

2:11 PM

The value of trade between Iran and the U.S. stood at $33.4 million in the first eight months of 2023, registering a one percent rise compared to the previous year’s same period, IRNA reported citing the latest statistics released by the American Statistical Association (ASA).

NDF, SATBA ink $5b-MOU on financing renewable power plants projects

2 years ago

16 October 2023

2:08 PM

Iran’s National Development Fund (NDF) and Renewable Energy and Energy Efficiency Organization (SATBA) signed a memorandum of understand (MOU) worth $5 billion for financing renewable power plant projects belonging to non-governmental public institutions.