Oil held near $72 a barrel as inconclusive nuclear talks between world powers and Iran — which has elected a new hardline president — allayed prospects for a swift revival of the Islamic Republic’s crude exports. SourceContinue Reading
Odfjell’s WindGrid is a solution for providing an uninterrupted power supply from Mobile Offshore Wind Units to micro-grids. It combines energy storage, grid converters and floating wind turbines in order to enable gas turbine generators to be shut down during peak wind power production. SourceContinue Reading
Global oil consumption will continue to outstrip supply in 2022 as the economic recovery from the pandemic boosts fuel consumption, while investment in new crude production is crimped by environmental concerns, the bank said in a report. SourceContinue Reading
President Joe Biden’s administration rejected Nicolas Maduro’s call for relief from U.S. sanctions, saying the Venezuelan leader needs to do more toward restoring democracy before penalties would be lifted. SourceContinue Reading
Devon Energy announced it is establishing new environmental performance targets focused on reducing the carbon intensity of its operations, minimizing freshwater use, and engaging constructively with its value chain. SourceContinue Reading
While Ebrahim Raisi’s presidential win isn’t expected to derail efforts to return the U.S. to the accord, the change in administration in Tehran has complicated diplomacy. SourceContinue Reading
Iran will continue talks aimed at reviving a nuclear deal during its transition to a new government, yet the election of a conservative cleric as president lowers traders’ expectations of a quick return to the world oil market. SourceContinue Reading
China’s Silk Road Fund and Hassana Investment Co., controlled by the Saudi Arabian government, joined a group investing $12.4 billion in Saudi Aramco’s oil pipelines. SourceContinue Reading
A former judiciary chief with support from the highest levels of Iran’s religious and military establishment, Ebrahim Raisi’s election means that all of Iran’s state institutions and levers of power will be controlled by ultraconservatives. SourceContinue Reading
As little as 18 months ago, it would have been unthinkable, but transformation of oil markets post-pandemic is already having ramifications on crude pricing and international trading patterns. SourceContinue Reading
