The yearly Ministerial Meeting of the Gas Exporting Countries Forum (GECF) will take place on 12 November under the rotating Presidency of the Democratic People’s Republic of Algeria. The meeting, and its related events, will convene virtually owing to the COVID-19 pandemic. The 22nd Ministerial Meeting will discuss the current issues related to…
ROME,The G20 major economies are “moving in the wrong direction” in response to the coronavirus pandemic by using stimulus spending to support industries and companies that rely heavily on planet-warming fossil fuels, researchers said on Tuesday. Despite repeated pledges to end subsidies for oil, gas and coal, G20 governments continue to fund fossil fuels,…
The president-elect has vowed to lift US sanctions against Tehran and rejoin the Joint Comprehensive Plan of Action (JCPOA) nuclear deal, as long as Iran resumes compliance with all restrictions on its nuclear program. Sanctions imposed by President Donald Trump in 2018 have cut off more than 2mn b/d of Iranian oil exports.…
Iraq is one of the few countries to benefit from the Iranian sanctions’ exemptions. The United States has repeatedly extended the period of a sanctions waiver for Iraq — most recently in September — due to Baghdad’s dependence on Iran’s gas and electricity. Iraq’s need to comply with the OPEC+ quotas has a negative…
Libya will not join OPEC quotas until its production stabilises at 1.7 million barrels per day (bpd), a Wall Street Journal reporter tweeted here, citing National Oil Corp chief. Libyan oil production could reach 1.3 million bpd within a month, NOC’s Mustafa Sanalla told the Journal. OPEC-member Libya is exempt from making production…
OPEC+ ministers talked openly about the possibility of tweaking their oil-cuts deal, the latest signal that the group is reconsidering its January production hike. While Saudi Arabia and the United Arab Emirates, two core members of the cartel, didn’t commit to any policy changes before their Nov. 30 meeting, they reiterated their intention…
Oil managed to stage quite a recovery yesterday, with the market closing higher on the day after it was down more than 5% in early trading in Asia. Strength has continued in early morning trading today. The catalyst for the move was the Russian energy minister, who yesterday met with domestic oil companies to…
Niels-Arne Baden has a problem. The factory he’s building for Green Hydrogen Systems is too small.Plans for the Denmark site to be one of the largest for assembling the machines that make hydrogen from electricity were finalized about a year ago. But demand for those electrolyzers is growing so fast that Baden’s now…
NEW YORK — The United States and Brazil, the two leading ethanol producers, see potential for a large increase in global use of the biofuel as an outright way to cut carbon emissions while the world transitions to all-electric cars, according to industry representatives this week. “There is a lot of hope (to…
A US$20 billion refinery and petrochemical complex in Shandong province, China, has officially been launched for construction. The province is apparently the home of several Chinese refiners according to a local newspaper. Earlier this year, China gave the go-ahead to plans for the colossal refinery and petrochemical complex Yulong, which will include a refinery…
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