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BP signs gas supply agreement with Chinese ENN
- BP will provide ENN with 300,000 tonnes per year of pipeline gas re-gasified from LNG for two years from Jan. 2021
Spot market electricity prices for Friday, July 10
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 148.73 million Turkish liras
Spot market natural gas prices for Wednesday, July 8
-1,000 cubic meters of natural gas in spot market costs 1,292 Turkish liras
World Bank funds solar project to power up Myanmar
- Over 450,000 rural Myanmar residents are to gain access to clean energy for first time through World Bank's $3.45M fund
Turkey's daily power consumption down 3% on July 8
- Turkey's electricity exports amount to 4,996 megawatt-hours, while imports total 5,880 megawatt-hours
Turkish energy firm Enka to build power plant in Tatarstan
-Turnkey project worth $360 million is expected to be operational on November 30, 2023
Blockade will halve Libya oil output: National Oil Co.
- NOC chair urges for restart of oil output in country that has suffered from oil blockades since ouster of Gaddafi in 2011
Libyan government discusses return of Turkish firms
- Turkish companies stopped operating in Libya after abduction of 3 engineers in 2018
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ENI revises down Brent price forecast by $10 for 2023
- For 2020-2022 period, Italian energy firm forecasts Brent at respectively $40, $48 and $55 per barrel
US court orders shut down of Dakota pipeline
- Standing Rock Sioux Tribe in Dakota filed against pipeline in 2016, one year before pipeline began operating
Swedish Tethys Oil signs exploration deal offshore Oman
- In case of any commercial oil or gas discovery, agreement will be transformed into 15-year production license, company says
Petronas venture invests in solar energy start-up
- Initiative aims to provide sustainable energy for residential and small-to-medium enterprise sectors in Malaysia
ENI announces new gas discovery offshore Egypt
- ENI, BP and Total will begin screening development options of new discovery in coordination with Egypt's petroleum sector
ENI, Sonatrach ink deal to expand upstream partnership
- Agreement comes during meeting with Algerian energy minister and CEOs of ENI and Sonatrach
EU may suffer oil depletion by 2030: French study
- Likely decline in production of oil-producing countries by 2030 could lead to severe constraints on EU supplies: says study
EU supports Libya’s efforts to resume oil production
- Delegation from European Union in Libya condemns presence of foreign mercenaries in oil fields, including Sharara oilfield
Lebanon may face power cuts due to economic crisis
- Country has been unable to produce 24-hour electricity since civil war between 1975-1990
Turkish companies sign deal for solar power plant in Italy
- Total value of contract is €45 million excluding VAT
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BP sells its petrochemical business to INEOS for $5B
- Aromatics and acetyls constitute BP’s petrochemicals business with 9.7 million tonnes of production in 2019
5 major oil firms sued for causing climate change
- US Attorney General for Columbia District says companies misled consumers and discredited climate science in pursuit of profits
EU bank to provide €63 mln. for wind farms in Austria
- Austrian wind power producer Windkraft Simonsfeld AG will operate wind farms with a total capacity of approximately 43.6 MW
EU Council adopts post-pandemic roadmap in energy sector
- Council stresses importance of prioritizing energy efficiency for enhancing economic recovery
Total, Sonatrach extend LNG deal for 3 additional years
- Under agreement, 2 million tons per year of Algerian LNG will be provided to French market
'Iran, Venezuela steadfast against US sanctions'
- Foreign ministry remarks come after US sanctioned 5 Iranian tanker captains for aiding gasoline shipments to Venezuela
Iran launches new pipeline to reroute oil exports
- New oil pipeline from Goreh oilfield to Port of Jask is among 3 other major projects including petrochemical complex
World Bank approves $750 million energy loan to Nigeria
- Almost half of country faces energy shortages, according to country’s clean technology hub
Iran to reroute oil exports from Hormuz Strait: Rouhani
-New oil pipeline from Goreh oilfield to Port of Jask will reroute country’s oil exports away from Hormuz Strait
ADNOC inks record high gas pipeline investment deal
-With $10.1 billion to ADNOC, deal is single-largest energy infrastructure transaction in region and biggest in world in 2020
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BP invests $5M on software to detect methane leaks
- Move is part of company’s goal to become a net zero company by 2050
Spot market natural gas prices for Sunday, June 21
- 1,000 cubic meters of natural gas in spot market costs 1,457 Turkish liras
Spot market electricity prices for Tuesday, June 23
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 153.6 million Turkish liras
Libya loses over $6 bln due to Haftar’s oil blockade
- Country has suffered from oil sector blockades since ouster of late ruler Muammar Gaddafi in 2011
Turkey's daily power consumption down 9.4% on June 21
- Turkey's electricity exports amount to 954 megawatt-hours, while imports total 11,448 megawatt-hours
Europe gas demand down 8% in 1st 5 months of 2020
- Sharpest demand decline is seen in France, according to Oxford Institute for Energy Studies report
German LNG Terminal, RWE to explore hydrogen prospects
- Companies plan to promote use of hydrogen produced from renewable sources
Consortium to build record-tall 3D printed wind turbines
-Unlike traditional turbines under 100 meters, a 160-meter 3D-printed turbine built onsite can generate 33% more power
Algeria and Tunisia agree to extend gas deal to 2027
-Deal enables Sonatrach to provide gas to Tunisia until 2027 increasing volume by 20% in 2025 with greater demand anticipated
Iran’s export of petchem products down 29% in 2019
-Country’s total petrochemical revenue last year totals $15 billion, says deputy petroleum minister for petrochemical affairs
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Iraq to boost oil exports to 2.8M barrels daily in June
- Kurdish Regional Gov. to export maximum of 370,000 barrels per day, starting in June to help Iraq comply with OPEC+ quota
British energy giant BP lowers its oil price outlook
- Company lowers its price assumptions down by around 30%
Yemen’s Houthi-controlled areas facing oil crisis
- Lengthy lines of cars wait in front of oil stations to buy oil that is now only available on black market
GE inks wind power deal with Naturgy in Spain
- Agreement covers maintenance for 13 Eco-80 wind turbines
Israeli think-tank supports Turkish role in gas forum
- Begin-Sadat Research Center says US supports more inclusive gathering in East Med Gas Forum with Turkey’s participation
Spot market natural gas prices for Monday, June 8
- 1,000 cubic meters of natural gas in spot market costs 1,456 Turkish liras
Ocean Panel marks World Oceans Day
- High Level Panel for Sustainable Ocean Economy also highlights ocean as source of renewable energy
Adani Group wins single largest solar development bid
- Adani Green Energy Limited will develop 8 GW of solar projects with a combined investment of approximately $6 billion
BP to lay off 10,000 employees
- Company’s CEO cites reason as oil price plunge below level company needs to turn a profit
Total joins Getting to Zero Coalition for GHG reduction
- Launched in 2019, Getting to Zero Coalition aims at reducing greenhouse gas emissions from shipping by at least 50% by 2050
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Turkish startup creates products from organic waste
-‘Green’ design studio is doing its part to fight deforestation by planting a new tree sapling for every product it sells
Baku-Tbilisi-Ceyhan p/line sends 3.4 bbl oil in 14 yrs
- Oil delivered via 1,776 kilometer-long pipeline loaded on over 4,500 oil tankers in Haydar Aliyev marine terminal in Ceyhan
Gazprom, Greek firm Mytilineos ink natural gas deal
-Agreement will be valid between 2020 and 2030
Baghdad halts payments to KRG until oil deal is struck
-Iraq’s central government cuts Kurdish region’s spending as it fails to hand over 250,000 bpd of oil to federal government
Iran to continue fuel shipments to Venezuela
-Iran sent 5 five fuel tankers last week to Venezuela to help ease fuel shortages
Iran oil exports up 32% over last 60-days
- Two million tons of non-oil products were also exported from Iran’s largest port, Shahid Rajaee, from March 21 to May 20
Fourth Iranian oil vessel arrives in Venezuela
- 5 Iranian fuel tankers sail towards Venezuela to supply fuel for refineries that are facing acute gasoline shortages
Haftar oil blockade causes over $4 bln. loss for Libya
- Country has suffered from oil sector blockades since ouster of late ruler Muammar Gaddafi in 2011
Bilfinger, Green Solutions to widen LNG station network
- Use of LNG is supported by EU to end dependence on oil
28.05.2020
Lng/Lpg
Genel Energy receives $10.4 million for KRG oil prod.
- Company’s net payment share amounts to $3.2 million
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Iran’s oil development in defiance of US sanctions
- Iran inaugurates South Pars Field's Phase 11, which is expected to add 50 million cubic meters of gas to production output
EU court rebuffs Nord Stream appeal against p/line law
- General Court of the European Union says complaint of Nord Stream companies is ‘inadmissible’
Venezuela to escort Iranian fuel tankers
- Five Iranian fuel tankers sail towards Venezuela to supply fuel for its refineries which are facing acute gasoline shortages
Total, Purecycle ink deal for plastic recycling
- French energy company aims for production of 30% recycled polymers by 2030
Iran’s non-oil exports booming: Head of Central Bank
- Country aims for surge in national production following decline in coronavirus pandemic
23rd World Petroleum Congress postponed until Dec. 2021
- Delay expected to assure international participation and engagement, according to statement
Petrofac considers cost cuts of $125 million in 2020
- Energy company will also delay majority of 2020 tenders until 2021
Iran eyes non-oil exports for economic revival
-Iranian first vice-president says surge in production depends on expanding non-oil exports
Kazakh oil output rises 6% in 1st quarter: Energy min.
- Energy Minister says his country’s oil exports exceeded expectations and reached 25.3 million in first four months of 2020
Saudi austerity measures needed to fix economy: SPA
- Measures including tripling VAT are to tackle economic impact of COVID-19 and low oil prices
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Australia to fund BP for renewable hydrogen production
- When completed in February 2021, 20,000 tonnes of renewable ammonia will be produced per year for domestic use
Total’s net profit decreases 35% in Q1 amid oil crisis
- Company agrees to reduce net investments by 25% to $14 billion in 2020
Total announces zero carbon emission goal by 2050
- Firm aims to cut carbon and net zero emissions in three steps from its operations and energy products sold to Europe
ENI, Total energy firms postpone drilling in E. Med
-Earlier, ExxonMobil announced postponement of plans to drill in region until September 2021
Time to plan postpandemic economic recovery: IEA chief
- In meeting co-chaired by Birol, participants discuss spurring economic growth through clean energy technology investments
Oil to rise to $40 after OPEC+ cut: Algerian Energy Min
- Energy Minister says global economy will not stay paralyzed following lifting of coronavirus lockdown
OPEC alone cannot address oil crisis: Iranian oil min.
- Bijan Zangeneh says oil crisis needs global cooperation
French oil firm Total wins 131-megawatt solar tenders
- Company says solar plants will generate enough renewable electricity to cover needs of nearly 50,000 people
Australia signs deal with US to access oil reserves
- Australian government plans to spend $94 million for oil storage in US
Iran forms plan against zero oil income: vice president
-His comments on adjustment to zero oil revenue come after WTI fell Monday into negative territory for first time in history
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Shell, Arrow Energy to develop gas project in Australia
- Arrow Energy's Surat gas project is expected to carry up to 90 billion cubic feet of natural gas per annum to market
Woodside Petroleum's revenue falls 20% in Q1 2020
- Australian petroleum company also decides to defer investments on Scarborough project and Pluto LNG expansion to 2021
Saudi Aramco refutes reports of change in payment terms
- Some media outlets report firm offered Asian, European refineries the right to delay crude cargo payments for up to 90 days
Riyadh wants US shale partners to prosper: Energy min.
- Saudi energy minister denies allegations that recent oil price cuts target US shale industry
Wildfire almost reaches Chernobyl nuclear plant
- Fire in Chernobyl exclusion zone has been ongoing since April 4
OPEC+ hopes to cut 20M not 10M barrels per day: Trump
- OPEC+ countries agreed late Sunday to cut their collective oil production by 10 million bpd starting next month
Spot market electricity prices for Tuesday, April 14
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 87.82 million Turkish liras
Giant oil rig passage halts Istanbul’s maritime traffic
-Bahamas-registered oil platform Scarabeo 9 en route to Spain's Cartagena port to complete crossing via Bosporus in six hours
Turkey's daily power consumption down 6% on April 12
- Turkey's electricity exports amount to 7,730 megawatt-hours, while imports total 2,967 megawatt-hours on Sunday
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IEA hopes G20 will help restore volatile oil markets
- 'I am looking forwards to today's extraordinary meeting of G20 energy ministers,' says head of international energy agency
Mexico’s terms on oil prices to be discussed during G20
- Logging off OPEC+ meeting without agreeing 10 mbpd cut deal, Mexican energy min. later says country would cut 100,000 bpd
US to cut oil by 4M barrels per day: Texas reg. agency
- If nothing is done, inventories will fill up in two months, says Ryan Sitton, agency's commissioner
Russia ready to cut 14% of oil output: Local reports
- Russia may reduce production by about 1.6 million barrels from the previous 11.3 million barrels, according to local sources
Recent US oil fall merely market-driven: Kremlin
- Russia's Presidential Spokesman Dmitry Peskov urges waiting for OPEC+ teleconference scheduled for April 9
OPEC+ should agree output before meeting: Iran Oil Min.
- Iranian oil minister says producers from other countries, including US, Canada, should be involved in OPEC+ negotiations
Exxon Mobil cuts 2020 capital expenditure by 30%
- Biggest share drop in capital spending will be in Permian Basin in Texas with decline in drilling pace and well completions
Total sells assets in Brunei, Sierra Leone, Liberia
-French energy company says transactions support its action plan to weather crisis due to low oil prices
Expected OPEC, OPEC+ meeting postponed until Thursday
-Meeting to take place on April 6 is postponed due to technical reasons, according to Kremlin spokesman