SOCAR sources: Russia and Ukraine cannot agree on gas deal mediated by Azerbaijan
Azeri SOCAR, a leading energy company in Azerbaijan, said on Friday that Moscow and Kyiv failed to reach an agreement on the deal brokered by Azerbaijan for Russian gas to be exported to Europe via Ukraine. Azerbaijan was asked by the European Union and Ukraine to facilitate talks with Russia regarding a gas-transit deal due to expire this year. On Thursday…
Energean CEO urges Israel issue new oil and Gas Exploration Licences
Energean, a gas company based in Israel, urged Israel on Thursday to issue new oil and gas exploration licenses offshore to meet the growing demand for gas in the region. Mathios rigas also called upon governments to develop new routes of export from Israel to Egypt and Cyprus. "We need to talk to the government (Israeli) about new licenses and exploration…
TotalEnergies executive: Trump unlikely to undo Biden’s IRA climate law
TotalEnergies, a French oil company, does not believe Donald Trump will pull the U.S. from the Paris Agreement to combat climate change and undo the Inflation Reduction Act legislation if he becomes president of the United States again. This was stated by the strategy director on Monday. Aurelien Hamelle said this while presenting Total’s energy outlook, which forecasts global demand scenarios up to 2050.
Solex Energy, an Indian company, plans to invest $1 billion by 2030 in order to expand its manufacturing
Solex Energy, a solar module manufacturer in India, announced on Monday its intention to invest $1 billion to expand their existing capacity and enter the solar cell manufacturing business by 2030. Vipul Shah, director of Solex, stated that the company has been in discussions with multiple investors, including international green funds and private equity firms…
Grangemouth Oil Refinery in Scotland to close by 2025 and lose 400 jobs
Petroineos, the operator of Scotland's sole oil refinery, announced on Thursday that it would close the facility in 2025, resulting in the loss of 400 positions. The closure is part of plans for the site, which has been around 100 years, to be converted into a fuels-import terminal. Petroineos will shut down the refinery in the second quarter next year.
Lightning Sparks Fire at Hengyuan's Malaysian Refinery
Hengyuan Refining Company Bhd said on Friday that a tank storing crude oil had caught fire at its refinery on the Malaysian west coast.Preliminary investigations show the fire at the Port Dickson refinery was due to a lightning strike, the company said in a statement."The damages sustained from the fire incident are restricted to one crude tank area…
NOC Condemns Calls for Oil Export Terminals to be Shut
Libya's state oil firm NOC on Friday condemned calls to shut oil export terminals in eastern Libya controlled by military commander Khalifa Haftar ahead of a summit in Germany where he will face pressure to halt his campaign to take the capital.Tribal leaders in eastern and southern Libya called on Thursday to shut the terminals in protest at what…
Nigeria Commits to OPEC Agreements
Nigeria is committed to full implementation of agreements among OPEC and non-OPEC members, its minister of state for petroleum said on Sunday, ahead of an OPEC meeting in Vienna.Timipre Sylva said he had told Saudi Energy Minister bin Salman that Nigeria's compliance had improved substantially since August. Prince Abdulaziz serves as chairman of the…
DoJ Drops Shell Investigation
Royal Dutch Shell said on Wednesday that it had been informed by the U.S. Department of Justice that it had closed its inquiry into Shell over the 2011 $1.3 billion acquisition of a Nigerian offshore oilfield.Shell and Italy's Eni are both currently on trial in Milan on graft allegations revolving around the acquisition of the OPL 245 oilfield."The U.S.
Iran says US exit from deal will not impact its oil
Iranian Oil Minister Bijan Zanganeh said on Thursday that U.S. President Donald Trump's decision to quit a multinational nuclear deal would not affect Tehran's oil exports."Trump's decision will not have any impact on our oil export ... that era is history now," he told state television.Trump announced a U.S. withdrawal from the 2015 nuclear deal on Tuesday and said he was preparing new sanctions against Iran.
Ghana, Exxon Discuss Deepwater Drilling
Ghana has opened talks with Exxon Mobil Corp to allow the U.S. oil firm to undertake deepwater exploration off the West African nation's coast, a deputy energy minister said on Monday. "The negotiations are ongoing according to our current laws ... so far so good," Mohamed Amin Adam told Reuters on the sidelines of an Africa oil conference in Accra. (Reporting by Kwasi Kpodo; Editing by Kevin Liffey)
Lebanese Oil Production Slated to Start in 2018
Lebanon expects to start oil production in 2018 and will deposit the resulting revenues into a sovereign wealth fund, President Michel Aoun said on Tuesday. "Everything that is extracted will be for the Lebanese people," he said during a meeting with a press syndicate delegation. Aoun said the revenues would be invested in development projects, and vowed to increase efforts to upgrade Lebanon's crumbling infrastructure.
Russian Finance Minister Calls Oil Price of $45 'Balanced'
Russian Finance Minister Anton Siluanov on Wednesday said a price of $45 per barrel of oil was "balanced" for both suppliers and consumers. In an interview with the Rossiya-24 state TV channel, he also said that budget revenues from oil and gas sales had dropped by 18 percent this year due to weaker prices. Benchmark Brent crude oil front-month futures currently trade at over $56 per barrel.
Phillips 66 in Final Stages of Selling Ireland's only oil refinery
U.S. independent refiner Phillips 66 is in the final stages of selling the only oil refinery in Ireland, a source familiar with negotiations said on Saturday. Responding to a report on the Irish Examiner website, which said an agreement to sell the Whitegate refinery would be reached within the coming weeks, the source said a deal was "in the offing".
Another blast at Severstal's mine in Arctic
Russia's Emergency Ministry said on Tuesday that another explosion had occurred in a coal mine inside the Arctic Circle where 26 died last week, but this time no one was hurt, Russian news agencies reported. "There were no people in the mine," TASS news agency cited the ministry as saying. It was the sixth explosion at the Severnaya mine, operated by Vorkutaugol, a subsidiary of Severstal, since the Feb.
Six More Bodies Found After Azeri Oil Platform Fire
The bodies of six oil workers missing from an Azeri oil platform in the Caspian Sea that caught fire on Friday have been found, the state energy company SOCAR said on Monday. It said a helicopter search for the other missing would continue at daybreak. Out of the 62 people who were on the Guneshli oil rig when the fire started, one was confirmed dead on Sunday and 33 were rescued.
Fuelling Growth With Coal, India Champions Poor in Paris
India's hardline position in global climate talks has made it a potential villain for Western nations as it warns that its greenhouse emissions, mostly from burning dirty coal, may keep rising past the middle of the century. Its little-known team came to Paris with a mission to force rich nations to lead the way in curbing emissions. Prime Minister…
Lives Depend on Climate Deal
Small islands that bear the brunt of rising sea levels also face the greatest risk of diseases linked to a warmer planet, health leaders said on Saturday, as 13 million medical professionals added to the calls for a global climate pact. Hundreds of thousands more people will die every year from heat stroke and tropical illnesses unless negotiators in Paris can agree a strong global deal to cap global warming…
Oil Analysts, Experts Weigh In On Iran Nuclear Deal
Iran, the United States and five other major powers reached an agreement to restrain the Iranian nuclear program in exchange for relief from economic sanctions. Q: Can you outline the timeline from here? "The P5+1 will now work on a UN resolution to endorse the deal; separately, domestic legislatures and other processes will review text, in the U.S…
FAQ: Oil Analysts and Experts on Iran Nuclear Deal
Iran, the United States and five other major powers are trying to reach an agreement to restrain the Iranian nuclear programme in exchange for relief from economic sanctions. Q: When will financial sanctions be lifted? Richard Nephew, Program Director at the Center for Global Energy Policy at Columbia University, in New York, said he thought international financial transactions with Iran involving U.S.
