Indonesia is located in the Pacific Ring of Fire, which has great potential for natural disasters. These disasters have caused damage to energy infrastructure and casualties. Natural disasters usually cut the energy supply chain in an area, causing a shortage of fuel supply and power outages. Besides natural disasters, energy crisis events occur…
Fast emerging globally as a means to help the world decarbonise, green hydrogen is a market where GCC countries have an advantage, thanks to the region’s abundance of inexpensive solar energy. Powered by renewable sources, green hydrogen can fuel a range of applications, from industrial processes to passenger cars. But low production costs…
Singapore/London: Ship owners facing looming deadlines to use less-polluting fuels have slashed the number of new vessels on order because they don’t know which alternative technology to switch to. Ammonia, hydrogen, biofuels and electrification are some of the many contenders to power the world’s future merchant fleet, but most are only in the…
Wednesday’s auction of oil and gas drilling rights on the Alaskan Coastal Plain was worse than disappointing. The lease offering was a culmination of decades of work, opening to development 1.5 million acres that many considered the biggest single prospect in America. The high expectations fell embarrassingly flat when the bids were opened. Half…
Tehran — The National Iranian Oil Co. on Jan. 11 signed eight more oil projects as part of a $6.2 billion national program started in January 2019 to boost oil production by 355,000 b/d at 33 fields. Eight projects worth $1.2 billion were signed on Jan. 11, potentially boosting oil production by 95,000…
Petroleum Secretary Tarun Kapoor believes that a large number of products, which are used in the oil and gas sector, and are imported at present, should be manufactured in India. “We are looking at a large number of products which are currently being imported. We want them to be made in India. We…
yMumbai: Blending 20 per cent ethanol with petrol can help create economic activity of over Rs 1 lakh crore every year in the country and save precious foreign exchange, Union Petroleum Secretary Tarun Kapoor said on Monday. Currently, the petrol sold in the country has above 5 per cent of ethanol, a bio-fuel extracted…
The government plans to offer viability gap funding (VGF) to attract bidders for the second phase of Indian Strategic Petroleum Reserves, which will add 12 days of crude oil storage, two government officials aware of the matter said. The move is part of India’s efforts to enhance energy security. The second phase will…
Oil prices hit their highest level in nearly a year on Friday, gaining 8% on the week, supported by Saudi Arabia’s pledge to cut output and strong gains in major equity markets. Brent crude settled at $55.99 a barrel, climbing $1.61, or 3%, on the day and 8.1% on the week. West Texas…
Five years ago on New Year’s Eve, the Theo T left the Texas Gulf Coast with the first US shale crude shipment overseas. The oil, gathered from nearby ConocoPhillips wells and sold to trading giant Vitol Group, set sail for Italy just two weeks after lawmakers lifted a long-standing ban on exports. It…
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