Business - Energy

Emirates Airline test flies Boeing 777 on sustainable fuel

Long-haul carrier Emirates successfully flew a Boeing 777 on a test flight Monday with one engine entirely powered by sustainable aviation fuel. This comes as carriers worldwide try to lessen their carbon footprint.

S.Africa not ditching coal 'just like that', Ramaphosa cautions

Coal-rich but energy-starved South Africa will not immediately abandon its fossil-fuelled electricity generating plants as it transitions to cleaner forms of power, President Cyril Ramaphosa said Sunday.

Qatar replaces Russian company in Lebanon gas exploration

Lebanon, two international oil giants and state-owned oil and gas company Qatar Energy signed an agreement Sunday that the Qatari firm will join a consortium that will search for gas in the Mediterranean Sea off Lebanon's coast.

Libya NOC says to sign $8 bn gas deal with ENI

Libya's National Oil Corporation said Wednesday it had reached an $8-billion deal with Italian energy giant ENI to develop offshore hydrocarbon sites.

Norway to offer record number of Arctic oil, gas exploration blocks

Norway on Tuesday said it plans to offer a record number of gas and oil exploration blocks in the Arctic, with environmental NGOs condemning an "aggressive" promotion of fossil fuels.

Uganda begins oil drilling, hopes for production by 2025

Oil drilling has begun in a Chinese-operated field in Uganda and the East African country expects to start production by 2025, an official said Tuesday.

Spain says Germany to join hydrogen pipeline project

Spain said Sunday agreement has been reached for Germany to join a an ambitious hydrogen pipeline that will bring the "green" gas from the Iberian Peninsula to the rest of Europe.

Wholesale energy dives but bills remain sky high

Plunging wholesale gas prices have sparked speculation of an end to Europe's energy crisis -- but consumers' electricity and gas bills remain sky high, fuelling runaway inflation.

Eni announces 'significant' gas discovery in Egyptian waters

The global energy company Eni announced on Sunday that it has made a “significant” gas discovery at the Nargis-1 exploration well in the Nargis Offshore Area Concession in the Eastern Mediterranean.

Europe will return to Russian gas, says Qatar energy boss

European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company CEO predicted on Saturday, warning that market volatility could last for years.

ExxonMobil secures exploration rights in two offshore blocks in Egypt's outer Nile Delta

ExxonMobil, a US multinational oil and gas corporation, announced on Tuesday that it has obtained exploration rights to two offshore blocks in Egypt's outer Nile Delta, further strengthening its exploration portfolio in Egypt and the East Mediterranean.

Egypt to host sixth edition of EGYPS on energy security and climate action

Cairo is set to host the sixth edition of the Egypt Petroleum Show (EGYPS) from 13 to 15 February at the Egypt International Exhibition Centre. The event will focus on energy security and climate action through collaborative industry efforts.

Madrid wants electricity price cap extended to end 2024

Spain's government said Monday that it would ask the EU to extend a cap on electricity prices until the end of 2024, while awaiting an overhaul of the bloc's power market rules.

Egypt, Greece mull naming int'l consultant for joint power linkage project - minister

Electricity Minister Mohamed Shaker said on Sunday coordination is under way with the Greek side to agree on the international consultancy office that will conduct the technical and economic feasibility study of the power connection project between the two countries.

Egypt ready to fulfill Sudan electricity needs: Egyptian ambassador

With a large surplus of electrical energy produced in the past eight years, Egypt is perfectly willing to supply Sudan with electricity to meet its energy needs, Egyptian Ambassador in Khartoum Hany Salah said.

Oil prices dive, Europe gas price hits lowest level since 2021

Global oil prices plunged Wednesday over China demand concerns and European gas prices sank to their lowest levels since November 2021 as mild winter weather reduced demand.

Oil facilities in Yemen change hands in $21.6 million deal

A global energy company Tuesday acquired oil producing facilities in war-torn Yemen from another international firm. The move comes as the country's Houthi rebels have repeatedly targeted terminals and tankers in efforts to stop their rivals from exporting oil.

1st tanker carrying LNG from US arrives in Germany

The first regular shipment of liquefied natural gas from the United States arrived in Germany on Tuesday, part of a wide-reaching effort to help the country replace energy supplies it previously received from Russia.

Russian gas exports outside former Soviet states fell 45.5% in 2022: Gazprom

Russian gas exports to countries outside a group of former Soviet republics plunged by 45.5 percent in 2022, figures from gas giant Gazprom showed on Monday.

Finland gets floating LNG terminal to replace Russian gas

Finland's first floating liquefied natural gas terminal was moored Wednesday at the southern port of Inkoo where it will supply gas to the Nordic country that was cut off from Russian gas imports earlier this year amid the war in Ukraine.

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