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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
World’s Largest Climate Fund Sees Few Investment Opportunities
Alterra, the world’s largest private climate investment fund of $30 billion launched by the United Arab Emirates (UAE) last year, sees a lack of investment opportunities in the energy transition and has only spent a small part of its money, the fund’s chief executive Majid Al Suwaidi told Bloomberg. There aren’t attractive investment deals in…
https://en.energytoday.ir/worlds-largest-climate-fund-sees-few-investment-opportunities/
U.S. LNG Exports to Europe Set to Surge as European Gas Prices Soar
As Europe’s benchmark natural gas prices have hit a one-year high, their premium over with the U.S. benchmark gas price has widened well above 2024 averages, signaling that U.S. LNG exporters will likely further boost deliveries to Europe to take advantage of the widening spread. Currently, the price of the U.S. benchmark, Henry Hub, is…
https://en.energytoday.ir/u-s-lng-exports-to-europe-set-to-surge-as-european-gas-prices-soar/
Exxon, Hess, and CNOOC Schedule Oil Output Boost in Guyana
Exxon, Hess, and CNOOC plan to add a fourth production vessel to the ones already operating in the Stabroek Block offshore Guyana, Hess Corp.’s CEO has said, as quoted by Reuters. The floating production, storage, and offloading vessel should reach its destination in the first quarter of next year, John Hess said, speaking at the…
https://en.energytoday.ir/exxon-hess-and-cnooc-schedule-oil-output-boost-in-guyana/
Europe’s Top Oilfield Returns to Full Capacity after Outage
The giant offshore Johan Sverdrup oilfield, Western Europe’s biggest producing field, has resumed normal operations at full capacity following a power outage on Monday, a spokesperson for the operator, Equinor, told Reuters on Wednesday. “The entire production facility at Johan Sverdrup resumed operations yesterday and is now producing steadily at normal levels,” said the spokesperson…
https://en.energytoday.ir/europes-top-oilfield-returns-to-full-capacity-after-outage/
IAEA BoG Opens Meeting with Grossi’s Speech
International Atomic Energy Agency's Board of Governors has started its quarterly meeting on Wednesday in Vienna with its Director General Rafael Grossi's opening speech. "Addressed the @IAEAorg Board of Governors this morning. Shared updates on #COP29, Iran, Ukraine, nuclear energy and fusion, #Atoms4Food, #RaysofHope, and more," Grossi wrote in a post on X on Wednesday.…
https://en.energytoday.ir/iaea-bog-opens-meeting-with-grossis-speech/
Petrobras Announces $111-Billion Investment Plan
Brazil’s Petrobras plans to spend $111 billion in the five years between 2025 and 2029, with $77 billion of this total earmarked for oil and gas exploration and production activities, Reuters reported, citing a securities filing. The new spending figure is $10 billion higher than an earlier version of the investment plan, where exploration and…
https://en.energytoday.ir/petrobras-announces-111-billion-investment-plan/
U.S. Electricity Exports to Canada Jump
Reduced hydropower generation in Canada and low natural gas prices in the U.S. have resulted in a jump in U.S. exports of electricity to Canada since 2023, according to estimates by the U.S. Energy Information Administration (EIA). The U.S. and Canada have been each other’s main electricity trade partners for decades, and for most of…
https://en.energytoday.ir/u-s-electricity-exports-to-canada-jump/
Saudi Arabia’s Crude Oil Exports Hit a 3-Month High in September
Saudi Arabia’s crude oil exports increased by 80,000 barrels per day (bpd) to 5.75 million bpd in September—the highest in three months, the latest data from the Joint Organizations Data Initiative (JODI) showed on Monday. The September crude exports were the highest since June, likely due to the lower direct crude burning for power generation…
https://en.energytoday.ir/saudi-arabias-crude-oil-exports-hit-a-3-month-high-in-september/
Rising Costs will Keep Offshore Wind Industry from Reaching Goals
The world is far from reaching its offshore wind capacity installation targets amid rising costs and canceled lease sales, analysts and government and industry representatives have told Reuters. Last year, governments set a goal to triple overall renewable energy capacity by 2030. Currently, the world is off track to reach these goals, and much of…
https://en.energytoday.ir/rising-costs-will-keep-offshore-wind-industry-from-reaching-goals/
Oil Rises amid Escalating Russia-Ukraine Tension
Oil prices edged up on Monday after fighting between Russia and Ukraine intensified at the weekend, though concern about fuel demand in China, the world’s second-largest consumer, and forecasts of a global oil surplus weighed on markets. Brent crude futures gained 29c, or 0.4%, to $71.33 a barrel by 5.02am GMT, while US West Texas…
https://en.energytoday.ir/oil-rises-amid-escalating-russia-ukraine-tension/
Iran to Boost Oil Exports Infrastructure on Kharg Island
The head of the Iranian Oil Terminals Company (IOTC) says that the oil export infrastructure will be developed on Kharg Island in the south of Iran. A project on renovating and repairing the western berths of Kharg is a significant step towards boosting oil exports in the country, Abbas Asadrooz said on Sunday during his…
https://en.energytoday.ir/iran-to-boost-oil-exports-infrastructure-on-kharg-island/
Iran Says it Hit Record Daily Gas Production in South Pars
Iran’s state-run Pars Oil and Gas Company says daily output from the field reached an all-time high earlier this week amid growing demand for natural gas in the country’s electricity sector. The company said on Saturday that combined production from 28 phases of South Pars had hit a record of 711 million cubic meters (mcm)…
https://en.energytoday.ir/iran-says-it-hit-record-daily-gas-production-in-south-pars/
Iran Exports Non-Oil Goods Worth $1.2b to Pakistan in 7 Months
Iran has exported non-oil commodities valued at $1.2 billion to Pakistan in the first seven months of the current Iranian calendar year (March 20-October 21), the former head of the Islamic Republic of Iran Customs Administration (IRICA) announced. Mohammad Rezvanifar said that Pakistan was the sixth top export destination of the Iranian non-oil goods in…
https://en.energytoday.ir/iran-exports-non-oil-goods-worth-1-2b-to-pakistan-in-7-months/
European Oil Giants Commit $500 Million to Help Boost Access to Energy
European oil and gas supermajors BP, Equinor, Shell, and TotalEnergies are committing a joint investment of $500 million to help ensure access to affordable, reliable, sustainable, and modern energy for all. The joint investment commitment is part of the energy majors’ efforts to support promising, high-impact projects, primarily in Sub-Saharan Africa, South, and Southeast Asia.…
https://en.energytoday.ir/european-oil-giants-commit-500-million-to-help-boost-access-to-energy/
Oil Prices Set for another Weekly Loss on Soft Demand
Crude oil prices looked set for yet another weekly loss, pressured by the perception of softer-than-expected demand in China. The decline comes in spite of the International Energy Agency’s recent upward revision of oil demand growth for this year. That could be because the agency also revised its 2025 demand growth projection, but downwards. For…
https://en.energytoday.ir/oil-prices-set-for-another-weekly-loss-on-soft-demand/
Russia’s Gas Exports via Ukraine Remain Stable despite OMV Dispute
Russian natural gas flows to Europe via Ukraine have remained stable this week despite the fact that Gazprom cut off supply to Austria’s OMV over the weekend. Gazprom is sending 42.4 million cubic meters of gas to Europe via Ukraine on Thursday, Reuters quoted the Russian gas giant as saying. This volume has not changed…
https://en.energytoday.ir/russias-gas-exports-via-ukraine-remain-stable-despite-omv-dispute/
Saudi Aramco Plans Regular Debt Issues
Saudi Aramco plans to regularly tap the bond market for debt issuance as it looks to optimize capital structure and widen its investor base, Ziad Al-Murshed, chief financial officer of the world’s biggest oil firm, told Bloomberg in an interview. “You’ll see us do a couple of things. One is, just take on more debt…
https://en.energytoday.ir/saudi-aramco-plans-regular-debt-issues/
Trump Wants to Resurrect Keystone XL
President-elect Donald Trump intends to revive the construction of the Keystone XL pipeline on his first day in office—just like President Biden shut it down on his first day in office. A Politico report citing unnamed sources with knowledge of the situation said that the president-elect’s transition team was discussing Keystone XL with a view…
https://en.energytoday.ir/trump-wants-to-resurrect-keystone-xl/
Daily Output of Iranian Gas Refineries Stands at 840 mcm
Iranian gas refineries are currently producing 840 million cubic meters (mcm) of gas per day, according to the director of production coordination and supervision of the National Iranian Gas Company (NIGC). Speaking to the press on the sidelines of a visit to Ilam Refinery, Mohammad-Reza Jolaei, said natural gas accounts for more than 75 percent…
https://en.energytoday.ir/daily-output-of-iranian-gas-refineries-stands-at-840-mcm/
Russia’s Natural Gas Flows to Austria Rise despite OMV Cutoff
Requests from customers in Austria and Slovakia for Russian natural gas supply via Ukraine rose by 6% on Tuesday compared to Monday, even as Gazprom cut off supply to Austrian energy group OMV this weekend amid a contractual dispute. Nominations from companies in Austria and Slovakia were still 12% below last week’s levels, which was…
https://en.energytoday.ir/russias-natural-gas-flows-to-austria-rise-despite-omv-cutoff/
Austria still Seeing Russian Gas Flows amid Gazprom Dispute
Austria appears to be still receiving some Russian gas two days after the country’s integrated energy company, OMV, declared it would stop paying Gazprom to offset a 230 million-euro ($242 million) arbitration award by the International Chamber of Commerce over a previous gas cut-off. According to Reuters, gas flows from Slovakia--a transit route mostly for…
https://en.energytoday.ir/austria-still-seeing-russian-gas-flows-amid-gazprom-dispute/
Global Natural Gas Demand and Inventories Rose in September
Global natural gas demand rose by 6.1 billion cubic meters (bcm) in September from a year earlier, and inventories jumped to a record high, the Joint Organizations Data Initiative (JODI) said in its monthly oil and gas overview on Monday. Worldwide natural gas production also rose year-over-year by 7.65 bcm in September, according to the…
https://en.energytoday.ir/global-natural-gas-demand-and-inventories-rose-in-september/
French Terminals Import Record Volumes of LNG from Russia
France is importing record volumes of Russian LNG even as overall LNG purchases are falling, ship-tracking data compiled by Bloomberg showed on Monday, highlighting Europe’s growing imports of Russian LNG. So far this year, France has already imported more LNG from Russia’s Yamal export plant than in any other full year since these deliveries began…
https://en.energytoday.ir/french-terminals-import-record-volumes-of-lng-from-russia/
Austria Says Russia to Stop Gas Supply from Saturday
The Austrian chancellor said on Friday that Russia's Gazprom will stop gas supply to Austria from Saturday. "What we have been preparing for since the outbreak of war in Ukraine has happened. I was informed this afternoon that Gazprom will stop deliveries to (Austrian gas company) OMV tomorrow morning," Karl Nehammer said on X. Nehammer…
https://en.energytoday.ir/austria-says-russia-to-stop-gas-supply-from-saturday/
Sinopec, Aramco Start Building Petrochemical Complex in China’s Fujian
Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China’s Fujian province. The new venture includes a 16 million metric ton-per-year (tpy), or 320,000 barrels per day refinery, a 1.5 million tpy ethylene plant, a 2 million paraxylene facility as well as a…
https://en.energytoday.ir/sinopec-aramco-start-building-petrochemical-complex-in-chinas-fujian/
Russia Eyes New Gas Route to China, Betting Big on Growing Demand
Russia is eyeing yet another pipeline to China, this time via Kazakhstan, capable of delivering up to 35 bcm of natural gas annually. Announced by Deputy Prime Minister Alexander Novak, the plan comes as Moscow pivots hard toward Beijing, already shipping 40 bcm of gas to the Asian giant this year. With Europe now firmly…
https://en.energytoday.ir/russia-eyes-new-gas-route-to-china-betting-big-on-growing-demand/
China’s Gas Demand Surges with Urban Growth and LNG Boom
China has been the focus of oil traders' attention for years thanks to its seemingly insatiable demand for the fuel. Now, the country is about to cast itself as the star of the natural gas show as well. Last year, China’s natural gas consumption hit 394.5 billion cu m—a 7% annual increase, analysts from Columbia…
https://en.energytoday.ir/chinas-gas-demand-surges-with-urban-growth-and-lng-boom/
Gazprom Cuts Gas to Austria off, just in Time for Winter
Russia’s Gazprom PJSC has decided to play its favorite game: pipeline politics. Starting November 16, Austria is off the guest list for Russian natural gas, following a €230 million ($242 million) arbitration spat between Gazprom and Austria’s OMV AG. OMV, refusing to let that cash slip away, decided to withhold payments to Gazprom. As one…
https://en.energytoday.ir/gazprom-cuts-gas-to-austria-off-just-in-time-for-winter/
The Trump Government Wants to Axe EV Subsidies
The transition team appointed by president-elect Donald Trump has set its sights on the $7,500 EV tax incentive implemented by the Biden administration and plans to axe it as soon as possible, Reuters has reported, citing two unnamed sources. Trump has repeatedly showed an absence of soft spots for the EV industry and has signaled…
https://en.energytoday.ir/the-trump-government-wants-to-axe-ev-subsidies/
India Aims to become Regional Refining Hub
India aims to be a refining hub in Asia as it is boosting refining capacity and expects to continue relying on fossil fuels until at least 2040, according to Indian Petroleum Minister Hardeep Singh Puri “Our existing refineries will increase in terms of capacity and they will also become regional hubs in terms of providing…
https://en.energytoday.ir/india-aims-to-become-regional-refining-hub/