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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
Geopolitical Uncertainty Fuels Gold’s Record-Breaking Demand
Demand for gold reached record highs in 2024 fuelled by “eye-watering” interest from central banks and global investors, a fresh report has said. Total demand reached 4,974 tonnes, and the value of global demand shot up to $382bn, over a year which saw the gold price surge by 26 per cent. Central banks hoovered up…
https://en.energytoday.ir/geopolitical-uncertainty-fuels-golds-record-breaking-demand/
Equinor Cuts Renewable Energy Investments and Targets
Equinor is reducing its investments in renewables to boost returns for shareholders and adapt to an uneven energy transition, the Norwegian energy major said on Wednesday, becoming the latest European oil and gas firm to scale back capital allocation to low-carbon energy solutions. Equinor will nearly halve its investments in renewables and low carbon solutions…
https://en.energytoday.ir/equinor-cuts-renewable-energy-investments-and-targets/
OPEC+ won’t Change Oil Production Plans
Despite pressure from President Trump and a recent rise in oil prices, the OPEC+ group has said it won't change its current plan to begin gradually unwinding the cuts from April. The Joint Ministerial Monitoring Committee (JMMC), the OPEC+ panel reviewing policy and markets and potentially recommending actions to the group’s ministers to take, made…
https://en.energytoday.ir/opec-wont-change-oil-production-plans/
Goldman Sachs: U.S. Tariffs will have Short-Lived Limited Impact on Oil Prices
International oil and gas prices will see a limited short-term impact from President Trump’s new tariffs on Canada, Mexico, and China, according to Goldman Sachs. On Saturday, the U.S. Administration announced that additional tariffs would be implemented on February 4 on these countries. Canada and Mexico face 25% tariffs, with Canadian energy slapped with a…
https://en.energytoday.ir/goldman-sachs-u-s-tariffs-will-have-short-lived-limited-impact-on-oil-prices/
Iraqi Parliament Clears Key Hurdle to Kurdistan Oil Export Restart
On Sunday, Iraq’s parliament voted on a key plan for the compensation of oil companies operating in the semi-autonomous Kurdistan region that would speed up the restart of crude oil exports from the region. According to a Bloomberg report, MPs decided to allocate $16 per barrel produced in Kurdistan and transported from the field. This…
https://en.energytoday.ir/iraqi-parliament-clears-key-hurdle-to-kurdistan-oil-export-restart/
EIA: Canada Leads US Oil Imports in January
Canada remained the top crude oil supplier to the United States in January 2025, exporting an average of 3.8 million barrels per day (bpd), according to data from the US Energy Information Administration (EIA) and analytics firm Kpler. Mexico ranked second with 457,000 bpd, followed by Saudi Arabia at 275,000 bpd. Venezuela secured the fourth…
https://en.energytoday.ir/eia-canada-leads-us-oil-imports-in-january/
Eni Updates on Renewable Energy Expansion in Kazakhstan
Eni has significantly expanded its presence in Kazakhstan, balancing its operations in major oil fields such as Kashagan and Karachaganak with a growing commitment to renewable energy, a source at Eni told Trend. "In Kazakhstan, we are actively involved in the exploration, development, and production of hydrocarbons and natural gas, while also investing in renewable…
https://en.energytoday.ir/eni-updates-on-renewable-energy-expansion-in-kazakhstan/
China’s Boldest Oil Hunt yet
In October last year, China’s CNOOC reported record oil and gas production from a field called Deep Sea #1. The field was the company’s first ultra-deep project, an example of the pursuit of new, untapped resources that lie deeper under the sea. Yet it’s not only ultradeep offshore drilling that the Chinese are focusing on.…
https://en.energytoday.ir/chinas-boldest-oil-hunt-yet/
Goldman Sachs: Brent Crude could Hit $93 if Sanctions Hit Iranian, Russian Oil
Goldman Sachs analysts predict Brent crude prices could temporarily surge to $93 per barrel if sanctions successfully curb oil exports from Iran and Russia by a combined 1 million barrels per day (bpd). In a note shared by Zerohedge on X, the bank outlined a scenario where Iran faces persistent supply disruptions while Russia experiences…
https://en.energytoday.ir/goldman-sachs-brent-crude-could-hit-93-if-sanctions-hit-iranian-russian-oil/
The Beginning of Drill Baby Drill? US Oil Drillers See Uptick in Activity
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, after a 4-rig drop in each of the two weeks prior. The total rig count rose by six rigs, to 582, according to Baker Hughes, down 37…
https://en.energytoday.ir/the-beginning-of-drill-baby-drill-us-oil-drillers-see-uptick-in-activity/
EU won’t Ban Russian LNG until Alternative Sources Secured, Diplomats Say
The European Commission did not propose a ban on Russian liquefied natural gas in its latest package of sanctions because member states raised concerns about first securing alternatives including from the United States, EU diplomats said. “First you have to have a deal because otherwise you will be left without gas from Russia and without…
https://en.energytoday.ir/eu-wont-ban-russian-lng-until-alternative-sources-secured-diplomats-say/
Russia Tests Sanctions with Oil Shipments to India
Russia seems to be having little difficulty skirting US Treasury sanctions when it comes to its oil industry, with the country managing to send shipments of sanctioned oil aboard sanctioned tankers to India. The U.S. Treasury’s January crackdown on Russian crude exports doesn’t appear to be a problem for Moscow, with at least five tankers…
https://en.energytoday.ir/russia-tests-sanctions-with-oil-shipments-to-india/
China Appears to Build Giant Nuclear Fusion Research Site
China is believed to be constructing a huge fusion research site in its southwest, which could help it with both nuclear fusion efforts and nuclear weapons design, analysts and researchers have told Reuters, analyzing satellite images. The southwestern city of Mianyang is likely the new site of the fusion research facility, which is estimated to…
https://en.energytoday.ir/china-appears-to-build-giant-nuclear-fusion-research-site/
Coal Continues to Dominate China’s Energy Landscape
Coal is still king in China despite the renewables boom with record additions of solar and wind power generation. Thermal power generation, which is overwhelmingly dominated by coal, rose by 1.5% in 2024 from a year earlier, to a record high of 6.34 trillion kilowatt-hours (kWh), data from China’s National Bureau of Statistics showed. Growth…
https://en.energytoday.ir/coal-continues-to-dominate-chinas-energy-landscape/
Oil Executives Fume as Trump Shakes up Climate Rules again
President Donald Trump has been busy reversing the Biden administration’s so-called climate policies from the moment he was sworn in. He declared a national energy emergency, revoked the Biden ban on new LNG export capacity, and suspended some $300 billion in funding for transition projects in the country. With that, he has made one unlikely…
https://en.energytoday.ir/oil-executives-fume-as-trump-shakes-up-climate-rules-again/
OPEC’s Oil Production Continued to Decline in January
OPEC’s oil production declined in January for a second consecutive month amid lower output from Iran and Nigeria, according to the monthly Reuters survey published on Wednesday. Last month, all 12 OPEC producers saw their combined output drop by 50,000 barrels per day (bpd) from December to 26.53 million, according to the Reuters survey of…
https://en.energytoday.ir/opecs-oil-production-continued-to-decline-in-january/
Trump Is Looking for Ways to Cancel $400 Billion in Clean Energy Loans
The Trump administration is looking into ways to cancel federal loans granted by the Department of Energy for transition projects from a $400-billion fund, Bloomberg has reported, citing an unnamed source. According to the report, the new leadership at the Department of Energy would focus its financial firepower on projects in nuclear energy, liquefied gas…
https://en.energytoday.ir/trump-is-looking-for-ways-to-cancel-400-billion-in-clean-energy-loans/
South Korea Found to Have 14 Additional Offshore Oil and Gas Prospects
https://en.energytoday.ir/south-korea-found-to-have-14-additional-offshore-oil-and-gas-prospects/
Vitol Expects Oil Demand to Remain Robust until 2040
Crude oil demand will remain at current levels over the next 15 years at least, commodity trading major Vitol has forecast, shattering earlier predictions from outlets such as the International Energy Agency that has consistently been predicting peak oil demand growth before 2030. Demand for crude is set to rise further in the coming years,…
https://en.energytoday.ir/vitol-expects-oil-demand-to-remain-robust-until-2040/
Oil Rises as Trump Slaps Tariffs on Biggest Crude Supplier to US
Oil advanced as US President Donald Trump placed hefty tariffs on a range of imports, including crude from Canada and Mexico, threatening higher costs for American consumers. US marker West Texas Intermediate (WTI) jumped as much as 3.7 per cent before paring about half of those gains to trade near $74 a barrel. Global benchmark…
https://en.energytoday.ir/oil-rises-as-trump-slaps-tariffs-on-biggest-crude-supplier-to-us/
How China’s Rare Earth Minerals End up in Russia’s Advanced Weaponry
Since Russia launched its full-scale invasion of Ukraine nearly three years ago, Western nations have accused China of supplying Moscow with microchips and other critical dual-use technologies that are “powering Russia’s brutal war of aggression.” In response, Washington and Brussels have hit hundreds of Chinese companies and individuals with sanctions in a pressure campaign to…
https://en.energytoday.ir/how-chinas-rare-earth-minerals-end-up-in-russias-advanced-weaponry/
Tariffs Seen Disrupting Oil Market, Raising US Pump Prices
US President Donald Trump’s tariffs on imports from Canada and Mexico threaten to disrupt North America’s tightly integrated oil market and push up gasoline prices for American motorists. Trump on Saturday signed orders implementing a levy of 10% on imports of Canadian energy, along with general levies of 25% on Canada and Mexico and 10%…
https://en.energytoday.ir/tariffs-seen-disrupting-oil-market-raising-us-pump-prices/
India’s Energy Plan Faces Funding Hurdles
India is gearing up for an energy investing boom as Narendra Modi's government courts foreign and domestic investments. India’s economy has been growing rapidly, recently overtaking the United Kingdom to become the fifth biggest economy in the world. And it’s expected to keep rising through the ranks, surpassing both Germany and Japan to become the…
https://en.energytoday.ir/indias-energy-plan-faces-funding-hurdles/
Kazakhstan’s Ambitious Nuclear Energy Plans Face Public Scrutiny
Following up on last year’s referendum that endorsed the pursuit of nuclear energy in Kazakhstan, the government is moving quickly to lay the groundwork for at least two reactors. President Kassym-Jomart Tokayev has expressed a desire to eventually construct a “nuclear cluster” in the country to power economic growth. The government is working to finalize…
https://en.energytoday.ir/kazakhstans-ambitious-nuclear-energy-plans-face-public-scrutiny/
BP’s High-Stakes Return to Kirkuk
The history of the British Petroleum Company (bp) in Kirkuk and Iraq can be traced back to the 1920s, when the company—later named BP—spearheaded the operations of locating, exploring, producing, and exporting crude oil from Baba Gurgur in Kirkuk, which was considered the world's largest oilfield at the time. The exploitation of Kirkuk's oil lasted…
https://en.energytoday.ir/bps-high-stakes-return-to-kirkuk/
Chinese Companies Set New Records in Overseas Renewable Deployment
China installed a record amount of wind and solar capacity at home last year, data showed earlier this month. Yet, the country did not stop there. Chinese companies also installed record power generation capacity abroad as well—and half of it was neither wind nor solar. Wood Mackenzie reported this week that Chinese power generation capacity…
https://en.energytoday.ir/chinese-companies-set-new-records-in-overseas-renewable-deployment/
U.S. Grid Investments Jump as AI Leads Power Demand Surge
A number of grid operators and utilities in the United States are planning billions of U.S. dollars worth of investments in power transmission lines and networks as American electricity demand rises after two decades of stagnation. The advancements in AI and the surge in electricity demand for powering and cooling data centers have prompted the…
https://en.energytoday.ir/u-s-grid-investments-jump-as-ai-leads-power-demand-surge/
Soaring Tanker Costs Stall Russian Oil Trade in Asia after US Sanctions
Trade in Russian crude loading for Asia in March has come to a screeching halt as tanker rates are soaring and shippers are scrambling for non-sanctioned vessels following the latest U.S. sanctions on Russia’s oil supply, Reuters reports, citing shipping data and trade sources. The Biden Administration’s farewell sanctions on Russian oil trade were the…
https://en.energytoday.ir/soaring-tanker-costs-stall-russian-oil-trade-in-asia-after-us-sanctions/
Oil Slips as Trump Calls for OPEC to Cut Prices
Oil prices slipped on Monday after US President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost US oil and gas output in his first week in office. Brent crude futures dropped 53c, or 0.68%, to $77.97 a barrel by 4.30am GMT after settling up 21c on Friday. US…
https://en.energytoday.ir/oil-slips-as-trump-calls-for-opec-to-cut-prices/
Europe doesn’t Need US Gas, but might Buy It anyway
Donald Trump wants EU countries to buy more US-shipped gas. There are reasons for Europeans to consider taking the bait, but each comes at a price. At first glance, US supply and European demand for liquified natural gas seem like a match made in heaven. "We still get a lot of LNG from Russia and…
https://en.energytoday.ir/europe-doesnt-need-us-gas-but-might-buy-it-anyway/