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Saudi meets US promise to replace Iranian oil

Saudi meets US promise to replace Iranian oil

Saudi Crown Prince Mohammed bin Salman has said the country has met its promise to the US to make up for lost Iranian supplies from US sanctions. Last week, Prince Mohammed told Bloomberg: “The request that America made to Saudi Arabia and other OPEC countries is to be sure that […]

Iranian stake threatens Sercia Energy’s North Sea

Iranian stake threatens Sercia Energy’s North Sea

People close to Sercia Energy’s deal to buy out BP and Total from a number of North Sea oil and gasfields could be brought to a close in November, if the US does not provide a waiver allowing it to operate one of the assets that the National Iranian Oil […]

Richard Harrington supports nuclear amidst rising costs and prolonged delays

Richard Harrington supports nuclear amidst rising costs and prolonged delays

UK Business and Industry minister Richard Harrington has outlined his support for nuclear power to fill the gaps of renewable energy, despite the rising costs of building next generation plants. Speaking at the Conservative party conference last week, Harrington said: “I still believe the whole base case with nuclear power […]

US oil exports drop as India turns to Iran prior to sanctions

US oil exports drop as India turns to Iran prior to sanctions

Shipping intelligence company Kpler has said that Indian buyers have reduced US crude purchases, instead turning to Iranian supplies ahead of next month’s US sanctions. Data from the shipping intelligence firm showed US oil exports to India went from a record high of 347,000 barrels per day in June to 84,000 […]

Big Oil under pressure to invest

Big Oil under pressure to invest

After years of reduced spending, executives at the world’s largest oil producers have become under increasing pressure to invest in replenishing reserves in order to take advantage of a boost in prices and prevent declines. Oil prices have recently reached four-year highs of over $85 per barrel, company boards are […]

Lack of storms damages European wind and revives coal

Lack of storms damages European wind and revives coal

Unusual weather patterns across Europe will prevent winds from sweeping across the continent and will therefore mean many countries will be reliant on coal and natural gas during the autumn months. Reduced wind means energy producers across Germany and the UK will be reliant on coal fired power plants to […]

Further welding repairs may be needed at Flamanville

Further welding repairs may be needed at Flamanville

EDF’s flagship Flamanville nuclear power plant could need further work to its faulty weldings that have already cause delays to the project. In July it was announced that the project would face further delays and additional costs as a result of faults in 33 of the 148 inspected fuses at […]

Equinor strikes deal for Chevron North Sea stake

Equinor strikes deal for Chevron North Sea stake

Norwegian energy giant Equinor has reached a deal with Chevron to acquire its stake in the Rosebank oilfield in the North Sea, which could release one of the last big finds in the UK sector. Equinor will acquire a 40% stake of the project in the deal that highlights Norway’s […]