Day: October 27, 2020

The U.S. Treasury Department announced new sanctions on Iranian entities, this time including the Petroleum Ministry, the National Iranian Oil Company, and the National Iranian Tanker Company. These were sanctioned for “their financial support to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF),” according to a Treasury statement. Senior NIOC and NITC personnel have worked closely with Rostam Ghasemi, a senior IRGC-QF official and former Minister of Petroleum who was designated in 2019, and who has assumed a portion of former IRGC-QF Commander Qasem Soleimani’s role in facilitating shipments of oil…

The average energy capacity cost of utility-scale battery storage has declined from $2,152 per kilowatt-hour in 2015 to just $625/kWh in 2018. As of the end of 2018, the U.S. had 869 MW of installed energy storage capacity. The U.S. added 152 MW in 2019. In the first 7 months of 2020, the U.S. added 301 MW of energy storage capacity. Market Movers Cenovus Energy (TSE: CVE) and Husky Energy (TSE: HSE) were upgraded to Buy from Hold at Stifel, after Cenovus said it would buy Husky (more on that…

Khyber Pakhtunkhwa Chief Minister Mahmood Khan called on the Federal Minister for Planning, Development and Special Initiatives Asad Umar on Thursday to discuss priority projects of Government of Khyber Pakhtunkhwa for inclusion in the China Pakistan Economic Corridor (CPEC) portfolio. Senior officials from federal and provincial governments attended the meeting. The meeting discussed projects of energy, infrastructure, communications and agriculture sectors. The Minister directed that project proposals may be refined and finalized to ensure their early processing. He said that the respective Joint Working Groups (JWGs) should discuss the projects…

The Italian Trade Agency (ITA), the official Agency of the Italian Government which promotes the globalization of Italian firms under the aegis of the Ministry of Foreign Affairs, in collaboration with the Embassy of Italy in the UAE, presents the Italian expertise on sustainable and renewable technology at the virtual edition of Water, Energy, Technology, and Environment Exhibition (WETEX). Today marks the official opening day of the first-ever carbon neutral 3D virtual exhibition which runs until October 28, and Amedeo Scarpa, Italian Trade Commissioner to the UAE, Oman and Pakistan…

Market Update: Monday 26 October 2020  President Energy (AIM:PPC): Positive strides amid difficult climate IGAS Energy plc (AIM:IGAS): Partnership with Bayotech to produce hydrogen   Mosman Oil & Gas* (AIM:MSMN): Significant additional interest acquired in the Cinnabar Market Update: Monday 26 October 2020  President Energy (AIM:PPC): Positive strides amid difficult climate IGAS Energy plc (AIM:IGAS): Partnership with Bayotech to produce hydrogen   Mosman Oil & Gas* (AIM:MSMN): Significant additional interest acquired in the Cinnabar Lease Energy Prices          Brent Oil US$41.7/bbl vs US$40.7/bbl on Friday WTI Oil US$39.4/bbl vs US$40.4bbl on…