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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
Libya Looks to Boost Oil Production amid Soaring Geopolitical Risk
After decades of low interest in Libya’s oil and gas sector due to sanctions and the civil war, a possible new chapter could open in 2025. Based on the potential tender by the Libyan National Oil Company (NOC) for 22 onshore and offshore exploration blocks, expectations are high that international oil companies (IOCs) are returning.…
https://en.energytoday.ir/libya-looks-to-boost-oil-production-amid-soaring-geopolitical-risk/
Oil Prices Rally 3% as US Hits Russian Oil with Tougher Sanctions
Oil prices rallied nearly 3% to their highest in three months on Friday as traders braced for supply disruptions from the broadest US sanctions package directed at Russian oil and gas revenue. President Joe Biden's administration imposed fresh sanctions targeting Russian oil producers, tankers, intermediaries, traders and ports, aiming to hit every stage of Moscow's…
https://en.energytoday.ir/oil-prices-rally-3-as-us-hits-russian-oil-with-tougher-sanctions/
TotalEnergies Begins Work on Delayed $27B Energy Project in Iraq
French oil and gas company TotalEnergies has begun building a gas processing facility in Iraq, the first stage of a massive multi-energy project. ArtawiGas25 will process 50 million cubic feet of gas per day from the Ratawi field, enough to supply local plants to power 200,000 households in the Basra region. Back in May, TotalEnergies…
https://en.energytoday.ir/totalenergies-begins-work-on-delayed-27b-energy-project-in-iraq/
OMV Set to Supply Romanian Gas to Germany from 2027
The Romanian business of Austria’s energy giant OMV has reached an agreement with German firm Uniper to supply natural gas to Germany from a Black Sea project from 2027, sources with knowledge of the deal have told Reuters. Austria and Europe as a whole are looking to secure alternative gas supply to offset the loss…
https://en.energytoday.ir/omv-set-to-supply-romanian-gas-to-germany-from-2027/
Asia Diversifies Its Oil Supply as more Iran and Russia Sanctions Loom
The top buyers of Russian and Iranian crude in Asia, China, and India, have been buying more crude from the Middle East and Africa, expecting fresh sanctions on Iran and Russia to cripple supply from these two exporters, traders have told Bloomberg. In the past few weeks, supply of Russian and Iranian crude has declined…
https://en.energytoday.ir/asia-diversifies-its-oil-supply-as-more-iran-and-russia-sanctions-loom/
BP to Help India Boost Production at Its Largest Oilfield
https://en.energytoday.ir/bp-to-help-india-boost-production-at-its-largest-oilfield/
Oil Prices Edge down on Rising U.S. Fuel Inventories
https://en.energytoday.ir/oil-prices-edge-down-on-rising-u-s-fuel-inventories/
Wind Overtakes Gas as Largest Single Source of UK Electricity in 2024
The latest statistics from the National Energy System Operator (NESO) have revealed that wind power has overtaken gas as the largest single source of electricity for the first time. In 2024, wind turbines supplied 30% of the UK’s electricity despite a year of unusually low wind speeds. December, the windiest month of 2024, saw 38.9%…
https://en.energytoday.ir/wind-overtakes-gas-as-largest-single-source-of-uk-electricity-in-2024/
Biden Bans Offshore Oil, Gas Drilling in most Federal Waters
US President Joe Biden announced Monday that he is moving to ban new offshore oil and gas drilling along most US coastlines. "I am taking action to protect the East and West coasts, the eastern Gulf of Mexico, and Alaska’s Northern Bering Sea from oil and natural gas drilling and the harm it can cause,"…
https://en.energytoday.ir/biden-bans-offshore-oil-gas-drilling-in-most-federal-waters/
Kazakhstan Struggles to Reduce Dependence on Russian Routes for Oil Exports
Kazakhstan maintained its reliance on Russian infrastructure to deliver oil to international customers in 2024, despite calls from the central Asian country's president to seek alternative export routes. State run oil pipeline operator KazTransoil, which operates the country's second largest export route for Kazakh oil, said on Monday that shipments via its pipeline network to…
https://en.energytoday.ir/kazakhstan-struggles-to-reduce-dependence-on-russian-routes-for-oil-exports/
Syria to Receive Electricity-Generating Ships from Qatar and Turkey
Syria will receive two electricity-generating ships from Turkey and Qatar to boost energy supplies hit by damage to infrastructure during President Bashar al-Assad's rule, state news agency SANA quoted an official as saying on Tuesday. Khaled Abu Dai, director general of the General Establishment for Electricity Transmission and Distribution, told SANA the ships would provide…
https://en.energytoday.ir/syria-to-receive-electricity-generating-ships-from-qatar-and-turkey/
Germany’s Solar Industry Faces Cloudy Future as Demand Slows
Germany’s solar boom has slowed to a trickle and turned into a bust for domestic manufacturers of solar panels and PV system installers and providers. Following a breakneck surge in solar power installations in 2022 and 2023 at the peak of the energy crisis, German solar capacity additions slowed toward the end of 2024, with…
https://en.energytoday.ir/germanys-solar-industry-faces-cloudy-future-as-demand-slows/
Hurricane Fury in 2024 Slows US Gulf Energy Production
The 2024 hurricane season was relentless, and it took U.S. energy infrastructure along for the ride. Above-average storm activity—18 named storms, five of which were major hurricanes—created disruptions in electricity markets and oil and gas production in the Gulf of Mexico. Hurricanes Helene and Milton, both Category 3 storms, were the heavy hitters. Making landfall…
https://en.energytoday.ir/hurricane-fury-in-2024-slows-us-gulf-energy-production/
Russia’s Crude Oil Shipments Slump by 11% in Two Months
https://en.energytoday.ir/russias-crude-oil-shipments-slump-by-11-in-two-months/
Equinor Discovers Oil and Gas Near Troll Field in the North Sea
Equinor has made an oil and gas discovery next to the giant Troll field in the North Sea and will continue to explore the area for further potential resources close to existing infrastructure. The discovery, provisionally named Ringand, is currently estimated to contain between 2 and 12 million barrels of oil equivalent and is only…
https://en.energytoday.ir/equinor-discovers-oil-and-gas-near-troll-field-in-the-north-sea/
Iran Exports Non-Oil Goods Worth $9.4b to Iraq in 9 Months
Iran exported non-oil commodities valued at $9.4 billion to Iraq during the first nine months of the current Iranian calendar year (March 20-December 21, 2024), the head of the Islamic Republic of Iran Customs Administration (IRICA) announced. Foroud Asgari said that Iraq was the second top export destination of the Iranian non-oil goods in the…
https://en.energytoday.ir/iran-exports-non-oil-goods-worth-9-4b-to-iraq-in-9-months/
China and India Stand to Lose from U.S. Sanctions on Russian Oil Trade
The United States is set to impose some of the harshest sanctions yet on Russia's oil industry, Reuters has reported. According to a purported U.S. Treasury document circulating among traders in Europe and Asia, some 180 vessels, several senior Russian oil executives, dozens of traders and two major oil companies are targeted by the sanctions.…
https://en.energytoday.ir/china-and-india-stand-to-lose-from-u-s-sanctions-on-russian-oil-trade/
India’s Refiners Brace for Major Disruption to Russian Oil Supply
Indian refiners expect their supply of cheaper Russian crude to be severely crippled with imminent U.S. sanctions expected to be slapped on tankers transporting Russia’s oil, refining sources in India told Reuters on Friday. Indian refiners understand that the outgoing Biden Administration is set to target in a new sanctions package more than 180 tankers…
https://en.energytoday.ir/indias-refiners-brace-for-major-disruption-to-russian-oil-supply/
Canada Threatens Trump Tariff Retaliation
Ever since President-elect Donald Trump started talking about tariffs, Canada’s government has gone through a transformation. Overtly not huge fans of oil and gas, the ministers in Ottawa suddenly turned defensive. The latest to do that was resource minister Jonathan Wilkinson, who this week threatened in-kind retaliation against Trump’s tariffs. Earlier this week, the U.S.…
https://en.energytoday.ir/canada-threatens-trump-tariff-retaliation/
ADNOC’s Aggressive Push for Global Energy Assets
https://en.energytoday.ir/adnocs-aggressive-push-for-global-energy-assets/
Guyana’s Crude Oil Exports Surged by 54% in 2024
Strong European demand for Guyana’s crude pushed the oil exports of the South American country soaring by 54% last year, with Europe accounting for the majority of shipments, Reuters reported on Wednesday, quoting shipping data and traders. Crude oil exports from Guyana averaged about 582,000 barrels per day (bpd) last year, as ExxonMobil and its…
https://en.energytoday.ir/guyanas-crude-oil-exports-surged-by-54-in-2024/
Kazakh Company Reportedly Bidding for Bulgaria’s only Refinery
Kazakhstan's state-owned oil and gas company KazMunayGas has reportedly offered $1 billion to buy Lukoil Neftochim Burgas, Bulgaria's only refinery currently owned by Russia's Lukoil. The Burgas refinery already receives about 40% of its supplies from KazMunayGas, and the acquisition would strengthen the Kazakh company’s position in the European market. KazMunayGas already owns the Romanian…
https://en.energytoday.ir/kazakh-company-reportedly-bidding-for-bulgarias-only-refinery/
India’s Latest LNG Import Terminal Receives its First Shipment
Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. India’s newest liquefied natural gas terminal has received its first shipment, taking the country a step closer to its goal of doubling the proportion of the fuel in its energy mix by the end…
https://en.energytoday.ir/indias-latest-lng-import-terminal-receives-its-first-shipment/
OPEC Oil Production Falls as UAE Leads Supply Cuts
Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) declined last month, as the United Arab Emirates (UAE) intensified supply cutbacks aimed at stabilizing global oil markets. According to a Bloomberg survey, OPEC’s output fell by 120,000 barrels per day (bpd) to 27.05 million bpd, with the UAE contributing the majority of…
https://en.energytoday.ir/opec-oil-production-falls-as-uae-leads-supply-cuts/
Norway’s Troll Gas Field Sets Production Record in 2024
The Troll gas field in the North Sea has achieved a historic production milestone by delivering 42.5 billion standard cubic metres (bscm) of natural gas in 2024. This figure represents the highest annual production ever for the field and marks an increase of nearly 10% from the previous record of 38.8bscm in 2022. Troll field…
https://en.energytoday.ir/norways-troll-gas-field-sets-production-record-in-2024/
Natural Gas Demand to Surge in US amid Extreme Cold Weather Conditions
The US is bracing for a surge in natural gas demand as freezing weather and snowstorms threaten to cause widespread power outages, reported Reuters, citing energy analysts and reliability coordinators. The current conditions could lead to the highest levels of natural gas demand this winter. The increased demand coincides with potential supply drops due to…
https://en.energytoday.ir/natural-gas-demand-to-surge-in-us-amid-extreme-cold-weather-conditions/
Kazakhstan’s Desertification Crisis
The UN climate conference, COP29, held in Baku in November garnered plenty of global attention. But another, lower-profile UN-sponsored COP, shorthand for conference of parties, convened earlier in December in Saudi Arabia. That COP tackled another global warming-related challenge – the spread of desertification. Barron Joseph Orr, the lead scientist for the UN Convention to…
https://en.energytoday.ir/kazakhstans-desertification-crisis/
Indian Refiner BPCL to Boost Oil Processing Capacity
https://en.energytoday.ir/indian-refiner-bpcl-to-boost-oil-processing-capacity/
Goldman Sachs: Huge Spare Capacity Weighs on Oil Prices
Spare oil production capacity at the highest quartile in history is weighing on Brent crude prices, and time spreads have looked undervalued since the summer, according to Goldman Sachs. The expectations for a large surplus next year are also likely weighing on the deferred time spreads, the investment bank said in a recent note. “Nevertheless,…
https://en.energytoday.ir/goldman-sachs-huge-spare-capacity-weighs-on-oil-prices/
The UK Electric Vehicle Boom is Set to Accelerate
Following a big push from the government and electric vehicle (EV) producers, the U.K. is expected to undergo a significant shift away from internal combustion (ICE) vehicles in favour of EVs in the coming years. This news comes despite lower-than-expected EV sales in the U.S. and Europe this year, which drove many automakers to rein…
https://en.energytoday.ir/the-uk-electric-vehicle-boom-is-set-to-accelerate/