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HuaweiWith growing energy demand in Asia and coming challenges in the global market, industry and governments need to work together to find solutions to tackle the “energy trilemma” of energy equity, energy security, and environmental sustainability, said panelists at the World Energy Congress in Daegu on Wednesday.
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Oil fell on Tuesday after Iran said its proposal for easing the standoff over its nuclear programme spurred a “good” reaction from world powers, although the prospect of a US debt deal in Washington lent some support to prices.
The United States will become the world’s largest oil producer next year — overtaking Russia — thanks to its shale oil boom which has transformed the global energy landscape, the West’s energy watchdog said on Friday.
Dana Gas offered to allow Egypt to pay back part of the $290 million owed to the company in local currency to make it easier for the state to find the money, needed by the producer to sustain output.
Abu Dhabi National Oil Co, or Adnoc, has delivered two million barrels of crude to South Korean storage facilities, the first such shipment by the UAE firm after it leased the space to store six million barrels, South Korea’s energy ministry said.
An offshore gas find in the Nile Delta is strong new evidence that Egypt has the resources to end power cuts and get export income flowing again. Its challenge is to persuade wary international oil companies to develop them.
Brent crude oil fell towards $108 a barrel on Friday, heading for its third straight weekly decline, with diplomatic efforts over Syria and Iran helping ease worries about risks to supply from the Middle East.
West Texas Intermediate crude fluctuated near the lowest level in 12 weeks. Futures swung between gains and losses after sliding 0.5 per cent on Wednesday following a government report that showed an unexpected increase in US crude stockpiles.
The Dubai Electricity and Water Authority (Dewa) is moving forward with a series of planned projects to develop, install and launch new substations in different areas of Dubai.
Rakteem Katakey and Eduard Gismatullin