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Gazprom, a Russian energy company, said today that it had cut off gas supplies to Bulgaria and Poland for failing to pay in roubles, the Kremlin’s harshest reprisal yet to international sanctions over the Ukraine crisis. Russian President Vladimir Putin has requested that “unfriendly” countries pay for gas in roubles or face being shut off, […]
Energy costs have risen faster than projected, and certain supply chain disruptions caused by the pandemic were expected to last until 2022. The Russian invasion of Ukraine in February shook Middle Eastern and North African stock markets and oil sectors. All these factors pose a particular problem for largely import-dependent countries like the Gulf states […]
On Monday, the Biden administration announced that it will revert to an Obama-era plan that would allow the government to lease up to 52 percent of Alaska’s National Petroleum Reserve for oil and gas exploration. It overturns the Trump administration’s decision to open up 82 percent of the reserve. The action comes after the Bureau […]
Egypt has announced two large commercial agreements to expand the country’s production of green ammonia. In Ain Sokhna, Egypt’s Suez Canal Economic Zone signed a $3 billion deal with a partnership led by EDF Renewables and the Egyptian sovereign wealth fund to produce up to 350,000 tons of green energy for ship fueling. The General […]
The majority of India’s oil imports come from the Middle East, with Iraq and Saudi Arabia being the top two suppliers. After the kingdom hiked the official selling price (OSP) to record highs for Asia, at least two Indian refiners plan to buy less Saudi oil in May than normal. Saudi Aramco, the world’s largest […]
The oil giant PETRONAS has signed a Memorandum of Understanding (MoU) with ExxonMobil Exploration and Production Malaysia Inc. to explore opportunities in carbon capture and storage (CCS) technologies to help decarbonise Malaysia Malaysia’s upstream industry and provide CO2 storage solutions for the region. Under the terms of the MoU, both parties will assess the viability […]
The resources company BHP has announced to divest $1.35 billion of BMC interest that is 80 per cent interest in BHP Mitsui Coal (BMC), an operated metallurgical coal joint venture in Queensland. Stanmore SMC Holdings Pty Ltd, a subsidiary owned by Stanmore Resources Limited (Stanmore Resources), has agreed to acquire 100 per cent of the […]
The Chinese Petroleum & Chemical Corporation Sinopec signs LNG deal with U.S. venture Global for 20 years to supply liquefied natural gas (LNG) from the Plaquemines plant. Sinopec had agreed lto purchase 2.8 million metric tons/year (mmty) on a free-on-board (FOB) basis previous month in one deal and 1.2 mmty on a delivered-at-place-unloaded (DPU) basis […]
The renewable energy group Octopus Energy and RES (Renewable Energy Systems) announced a partnership to build new green hydrogen plants across the country by investing £3bn by 2030. This partnership will deliver a home-grown, reliable and cost-competitive source of clean hydrogen that is insulated from present and future gas price volatility and aims to push […]
The oil and gas company BP has announced to invest $270 million at Cherry Point Refinery to improve efficiency, reduce emissions and grow renewable diesel production. Over the next three years 300 local jobs are expected to be created This investment is set with bp’s aims to be net zero across its operations by 2050 […]
The Oil giant Aramco , Air Products, ACWA Power and Air Products Qudra announced the signing of definitive agreements for the asset acquisition and project financing of the $12 billion air separation unit, gasification/power joint venture in Jazan Economic City. Aramco via its subsidiary Saudi Aramco Power Company (SAPCO) has a 20 percent share in […]
The financial services company Goldman Sachs and Bloomberg Philanthropies Deploys $25 Million to Advance Clean Energy Solutions and support sustainable low-carbon economic development with a focus on South and Southeast Asia to increase the pace, scale, and ambition of climate solutions and contribute to the clean energy transition. The Fund’s initial US$25 million in philanthropic […]
