Russia Lifts Restrictions on Gasoline Exports
Russia said that it has lifted restrictions on gasoline exports, following the previous lifting of restrictions on diesel exports.
Russia said that it has lifted restrictions on gasoline exports, following the previous lifting of restrictions on diesel exports.
ExxonMobil has announced the start of production at Payara, Guyana's third offshore oil development on the Stabroek Block.
The Egyptian energy sector has been dominated by fossil fuels, with goals to increase the share of new and renewable energy over the coming decades. Egypt has initiated a strategy to increase the use of renewable energy while decarbonizing its hydrocarbon sources as it is an indispensable energy source. This comes as oil and gas are expected to be among the main players in the Egyptian energy mix for decades. Achieving energy security also depends on diversifying the energy mix, especially since Egypt has great potential from different energy sources, as mentioned by Minister of Petroleum and Mineral Resources, Tarek El Molla, in October.
To begin with, a diversified energy mix is often viewed as a crucial component of energy security since having several sources enables a nation to keep running normally even if one of its sources of energy is unsuccessful.
Energy resources are of great importance, the most vital of which is oil. Oil plays an essential role in areas such as economic growth, industrial production, and transportation. However, due to the nature of petroleum and its environmental, economic and social impacts, the use and management of this resource requires different legal regulations.
The US Energy Department has announced on Monday that it plans to buy 1.2 million barrels of oil in order to replenish the Strategic Petroleum Reserve (SPR). This comes after the largest-ever sale of 180 million barrels from the reserve last year. The purchase will be made at an average price of $77.57 per barrel from two companies, following the submission of 18 bids.
US liquefied natural gas (LNG) producers increased their exports in October, reaching a level of 7.92 million metric tons, according to data provider LSEG, marking the second-highest monthly level on record, just shy of the record 8.01 million metric tons achieved in April of this year.
The Egypt Energy Show and Conference (EGYPES) has announced that it will witness the launch of the first forum of "Climate Technology Challenge" in the region during its seventh edition that will be held during the period between 19 -21 February 2024.