KHNP, AboitizPower to cooperate on nuclear energy

The MoU was signed on 31 July at KHNP’s headquarters in Gyeongju, South Korea, by Choi Il-kyung, Head of Business Operations at KHNP, and Carlos Ramon Aboitiz, Head of AboitizPower.…

Entergy to consider deployment of Holtec’s SMR-300

The collaboration formalised through the non-binding agreement establishes a framework to jointly evaluate customer demand, candidate sites, and possible commercial structures for potential dual-unit SMR-300 projects. The objective is to…

Qatar, Bessent Signal Progress on Short Term USA-Iran Deal

The prospect of a deal between the US and Iran appeared to be gaining traction on Tuesday, after Qatar said a proposal had been drafted and American Treasury Secretary Scott…

Venezuela’s Oil Exports Fall Even as U.S. Shipments Hit Seven-Year High

Venezuela exported 1.16 million barrels of crude oil daily last month, a slight decline from June’s 1.2 million barrels daily, on lower withdrawals from storage, Reuters has reported, noting that…

Tanker Traffic Remains Subdued Despite Trump’s Talk of Peace

Tanker crossings in the Strait of Hormuz and Bab el-Mandeb remained subdued at the start of this week despite reports about potential renewal of peace talks based on statements made…

Germany’s Energy Demand Falls as High Prices Hit Oil Consumption

Germany’s energy demand dropped by 1.9% over the first half of the year on surging oil and gas prices, according to preliminary data released by the Working Group on Energy…

Saudi Aramco’s Adjusted Profit Jumps 33% as Oil Prices Surge

Saudi Aramco saw its adjusted net income jump by 33% for the second quarter from a year earlier as high oil prices and the oil giant’s ability to re-route most…

BP Earnings Surge to $5.7 Billion on Oil Price and Refining Boom

BP more than doubled its profit for the second quarter from a year earlier on the back of higher oil and gas prices and stronger refining margins driven by the…

India Expands Oil Storage Sites After Shock Supply Disruption

India’s state-owned Oil and Natural Gas Corporation (ONGC), the top explorer in the country, will build a new storage site at Mangaluru to hold about 13 million barrels of oil…

Pakistan Partners with Canadian Firm to Boost Domestic Heavy Crude Output

Pakistan’s national Oil and Gas Development Company Limited (OGDC) has signed an agreement with a Canadian firm to deploy advanced technology to boost production from heavy crude oilfields, the largest…