LONDON: Oil rose by more than 1% on Monday on concern over supply disruptions stemming from intensified Russia-Ukraine airstrikes as well as a weaker dollar. Brent crude was up 80 cents, or 1.2%, at $68.28 a barrel at 1335 GMT. U.S. West Texas Intermediate crude also rose 80 cents, or 1.3%, to $64.81. Trading is expected to be muted because of a U.S. public holiday. Brent and WTI crude registered their first monthly declines in four months in August, losing 6% or more on increased supply from the OPEC+ producer…
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Saudi Aramco, Iraq’s SOMO halt crude sales to Indian refiner Nayara, sources say
NEW DELHI: Saudi Aramco and Iraq’s state oil company SOMO have stopped selling crude oil to India’s Nayara Energy in the aftermath of sanctions imposed in July by the European Union on the Russian-backed refiner, three sources familiar with the matter said. The halting of supply from the two Gulf exporters means Nayara, majority-owned by Russian entities including oil major Rosneft, relied entirely on Russia for its crude oil imports in August, according to sources and LSEG shipping data. Nayara typically receives around 2 million barrels of Iraqi crude and…
Read MoreGreen energy illuminates the Silk Road, and LONGi contributes to a low-carbon future for SCO (Shanghai Cooperation Organization) member states
LONGi has actively participated in the energy transition of SCO countries, with several landmark projects already completed and operational. Since the Astana Summit of the Shanghai Cooperation Organization (hereinafter referred to as “SCO”) in July 2024, China has officially assumed the rotating chairmanship and will host the Heads of State Summit in Tianjin from August 31 to September 1, 2025. During this period, LONGi has actively promoted the “Belt and Road Initiative” and the principles of global sustainable development by engaging in extensive and in-depth energy cooperation with numerous member…
Read MoreTechnical Progress and Application Status of String Inverters
Introduction As countries worldwide accelerate their push toward “dual-carbon” goals, photovoltaics (PV) are taking center stage in the global energy transition. In 2024 alone, around 530 GW of new PV capacity was added worldwide, with China contributing 277.6 GW — a 28.3% year-on-year increase. At the heart of every PV system lies the inverter, the device that converts solar power into usable electricity. Inverters are generally divided into two categories: centralized and string. Over the past decade, string inverters have emerged as the mainstream choice, offering flexibility, adaptability, and strong…
Read MoreGlobal LNG: Asian spot prices slip on muted demand, ample supply
SINGAPORE: Asian spot liquefied natural gas (LNG) prices slipped this week on muted demand and ample supply, with the delivery of an LNG cargo from a sanctioned Russian project adding to supply concerns. The average LNG price for October delivery into Northeast Asia was at $11.15 per million British thermal units (mmBtu), down from $11.40/mmBtu last week, industry sources estimated. “LNG market sentiment remained calm with arbitrage for U.S. cargoes still Europe-bound. Major Northeast Asian buyers have limited interest in prompt cargoes due to high stocks and a relatively loosened…
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