Category: News & Announcement

Reports that Russia plans to start easing oil production cuts after the end of June arrested the oil price rally, keeping WTI below $35 a barrel. WTI slid 0.3 percent following the news, after gaining more than 3 percent yesterday. This added to worry about U.S.-Chinese relations after the U.S. threatened to impose sanctions on China for its policy towards Hong Kong. The Bloomberg report, which cites unnamed sources familiar with Moscow’s position on the cuts, stands in stark contrast with a Reuters report, which also cited unnamed people familiar…

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Local and renewable energy resources accounted for 90% of Turkey’s electricity generation on May 24, a new all-time daily high, the country’s energy and natural resources minister said Tuesday. Sunday marked the beginning of the three-day Ramadan Bayram holiday, better known as Eid al-Fitr. Turkey had imposed a four-day curfew over the holiday from May 23 to 26 to curb the spread of the coronavirus pandemic. “On May 24, we achieved a new record in daily production by generating 90% of our electricity from domestic and renewable resources,” Fatih Dönmez…

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Laboratory testing for Covid-19 serology trials has been prepared according to a notification issued by the National Institute for Health. Anti-body testing would be done for community screening and research purposes. Tests can also be conducted to see the evidence of exposure to SARS-CoV-2 in individual cases whereas tests may be used for seroepidemiological or seroprevalence studies to inform public health measures at a community level. Furthermore, the tests can also be conducted for convalescent plasma transfusion. Laboratory serology tests may be considered as supplementary tests to RT-PCR based testing,…

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On any given day over the last four years, there have been around 20 oil drilling rigs somewhere in the Gulf of Mexico, tearing through submarine rock in search of oil.  Last week, there were just 12, according to data from oil services firm Baker Hughes BHI. With just one exception, that was the lowest weekly tally of rigs in the Gulf since 2000.  The world’s offshore oil industry, responsible for 30% of all the world’s oil production, faces a reckoning. With oil prices still well below levels from just months…

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Despite the U.S. and Europe shuttering coal-fired power plants, coal remains a major fuel in global energy systems. In 2018, global coal demand rebounded and grew by 1.4% due to increased consumption in Asia, where coal consumption increased by 2.5%. This increased consumption was mainly from power generation, which reached an all-time high, increasing 3% in 2018 and accounting for almost 40% of global electricity generation. China remains the world’s largest coal consumer, using more than 50% of all the coal consumed in the world. According to China’s National Bureau…

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