Iran Energy Profile: Despite Abundant Reserves, Crude Oil Production Has Stagnated – Analysis

ran holds some of the world’s largest proved crude oil reserves and natural gas reserves. Despite Iran’s abundant reserves, crude oil production stagnated and even declined between 2012 and 2016 as a result of nuclear-related international sanctions that targeted Iran’s oil exports and limited investment in Iran’s energy sector. At the end of 2011, in response to Iran’s nuclear activities, the United States and the European Union (EU) imposed sanctions, which took effect in mid-2012. These sanctions targeted Iran’s energy sector and impeded Iran’s ability to sell oil, resulting in…

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The EU wants to cut emissions, Bulgaria and Eastern Europe will bear the price

In the last few years, the European Union has been going above and beyond in dealing with climate change. Clearly, this is far from being a case of disinterested endeavour to safeguard the planet and the environment. On the contrary, the EU’s efforts aim at reinforcing its “normative power”. In effect, the EU has gained some clout on the international stage, even vis-à-vis faraway countries like Vietnam and China. Yet, in doing so the Union embroiled in the apparent rush for more and more ambitious climate standards and targets. Therefore,…

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DEWA, Stanford University To Develop Advanced System For PV Production

The Dubai Electricity and Water Authority’s (DEWA), using its Space-D programme, has collaborated with Stanford University to develop an advanced system to forecast Photovoltaic (PV) production in the short term at the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world using the Independent Power Producer (IPP) model with a planned capacity of 5,000MW by 2030. The new system reduces errors in the forecast to less than 10 percent. This supports DEWA’s efforts to achieve the Dubai Clean Energy Strategy 2050 to provide 75…

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Australia’s reliance on gas exports questioned as Japan winds down fossil fuel power

A Japanese pledge to wind down gas and coal-fired electricity much faster than previously planned has sparked warnings Australia needs to speed up a transition away from fossil fuel exports. A draft revised energy mix released by Japanese officials on Wednesday said the country – Australia’s biggest market for liquefied natural gas (LNG) and thermal coal – would cut gas-fired electricity generation nearly in half and reduce coal power by more than a third by 2030. The plan, devised to help the country ramp up emissions cuts by 2030, would…

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LPGDA for finalising new LPG policy

Liquefied Petroleum Gas Distributors Association (LPGDA) Chairman Irfan Khokhar underlined the need for finalizing the new LPG policy in consultation with all stakeholders so that benefits of the commodity’s controlled price could be passed on to the consumers. The chairman, in a press statement issued here, said that draft of the new policy should be shared with all stakeholders, including LPGDA, before its finalisation. He was of the view that consumers had been getting the commodity at reduced rates due to the effective policy of the incumbent government, but now…

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Column: Japan’s power plan will rattle coal, LNG exporters, especially Australia

LAUNCESTON, Australia (Reuters) – Japan has been largely forgotten as a source of demand for energy commodities, overshadowed by the rapid rise of China, but the country’s new electricity generation targets will shake the market up. For many years Japan has been viewed as a largely steady source of demand for liquefied natural gas (LNG) and thermal coal used in power generation, with small variations in the volumes imported on a year-by-year basis. But this comfortable situation for commodity producers supplying the world’s third-biggest economy may end if the draft…

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Russia’s LNG Strategy: Foreign Competition and the Role of the Arctic Region

Earlier this spring (March 22), the Russian government adopted the “Long-Term Program on the Development and Production of LNG” (Government.ru, March 22). The document highlights the strategic role of the Arctic region in the pursuit of Russia’s main goal—gaining a 20 percent share in the global liquefied natural gas (LNG) industry by 2035. This goal was reiterated in June by Prime Minister Mikhail Mishustin, during a meeting of his cabinet (TASS, June 7). The instructions outlined in the Program, combined with other already-observable indicators, suggest that Russia plans to drastically…

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Cargo ship beached at Karachi’s Sea View after losing anchors due to rough weather

A cargo ship that beached at Karachi’s Sea View early on Wednesday after it lost its anchors due to rough weather remained at the beach on Thursday as authorities were yet to take action. According to the Karachi Port Trust (KPT), MV Heng Tong, a cargo ship coming from Shanghai was on its way to Istanbul, Turkey, and did not completely enter the Karachi Harbour, although it was anchored in Pakistani waters awaiting a crew change. The rough sea caused the vessel to lose its anchors and it started drifting…

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The sordid saga of IPPs

Recently, there have been reports that the fear of the National Accountability Bureau (NAB) may force the government to back out of its deals with power companies set up under the 2002 power policy. The purpose is to renegotiate their ‘renegotiated’ power purchase agreements (PPAs) to deduct the alleged excess payments made to the 12 independent power producers (IPPs) from their longstanding unpaid bills. That is a bad idea as the government will be setting yet another bad precedent for the investors instead of dealing with the real issue: the…

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OMAP calls for end to OMCs ‘witch hunt’

Oil Marketing Association Pakistan (OMAP) on Tuesday called for an end to the witch hunt of the oil marketing companies saying it was increasingly becoming difficult for them to operate under the current circumstances. OMAP Chief Executive Officer Ilyas Fazil in a letter to Federal Minister for Energy Hammad Azhar appealed for an end to the spate of enquiries against the OMCs in the wake of the June 2020 Petrol Crisis Commission’s report. OMAP is a representative body of the oil marketing companies. “This Sector is the most important one…

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