Fossil fuels have surpassed renewables to become the European Union’s largest source of power generation as use of natural gas reached its highest point in a decade, the bloc’s statistics office said on Thursday.

While Eurostat says renewables topped the list in the first year of the coronavirus pandemic, the economic recovery saw the region’s electricity supply increase by 4% in 2021, with coal, oil and gas.

Fossil Fuels Surpass Renewables as EU’s Top Power Source | Devamı>>>

Shell completed the sale of its oil assets located in the Western Sahara Desert location to Cheiron Petroleuim and Cairn Energy for $926 million.

Royal Dutch Shell announced that it has completed the sale of its oil and gas assets in Egypt’s Western Sahara Desert location, while Egypt-based Cheiron Petroleuim and UK-based Cairn Energy together with Shell Egypt’s share of 13 land licenses for $926 million in the business’ Badr El-Din Petroleum. Company’s (BAPETCO) 50% shares were acquired.

Sale of ‘Shell’ Assets in Egypt Completed | Devamı>>>

9.5 billion shares of Permian Basin, America’s largest oil field, to ConocoPhilips by Shell
Sold for dollars.

In line with Royal Dutch Shell’s goal of reducing carbon emissions and turning to environmental solutions, the assets purchased by the American energy company ConocoPhilips include 600 miles of oil, natural gas and water pipelines.

7 billion dollars of the revenue to be provided by Shell from the sale will be directed to the shareholders and the balance sheet will be supported with the remaining amount.

‘Shell’ Sells Its Permian Shares To ConocoPhilips | Devamı>>>

In the monthly report published by the Organization of Petroleum Exporting Countries (OPEC), global oil production increased by 30,000 barrels per day on average in August 2021 compared to the previous month, and became 95.69 million barrels/day, compared to 4.93 million barrels per day in 2020. barrel/day increased.

According to the Petroleum Market, OPEC’s report, in August, OPEC’s crude oil production amounted to 26 million 762 thousand barrels/day, with an increase of 151 thousand barrels/day compared to the previous month.

Global Oil Production Increases in August | Devamı>>>

According to the information compiled from the industrial production and retail sales data showing the slowdown in economic activities in China, the decrease in fuel demand in China caused oil prices to fall by about 1.5% on the first working day of the week, falling below $70.

The barrel price of Brent oil is currently trading at $69.57, while the American West Texas oil (WTI) continues to trade at $67.35/barrel, down 1.6% compared to Friday.

Oil Prices Drop by 1.5% To Below $70 | Devamı>>>

The coronavirus pandemic will slash energy sector investment by about $400bn this year — the biggest ever annual fall — with the International Energy Agency warning that the world could grow more dependent on cheaper, dirtier fuels that undermine global climate goals.  Spending is due to plunge in every major sector, from oil, gas and coal to renewables, the Paris-based body said in a report published on Wednesday that takes into account project data and announcements from governments and companies.

Global Energy Spending to Fall $400bn Due to Coronavirus Crisis | Devamı>>>

Whole cities, towns, regions and countries are in lockdown owing to the coronavirus or Covid-19 global pandemic with shutdowns stretching from the Philippines to Canada and much else in between.

Earlier this week, India – the world’s second-most populous country – initiated its lockdown to control the virus outbreak. That’s a $2.7 trillion GDP economy of over 1.3 billion people grinding to a virtual halt. With each passing day, the question on every energy forecasters‘ mind is what such lockdowns will do to crude demand.

Global Oil Demand Could Fall 20% In Coronavirus Lockdown | Devamı>>>

Oil and gas pipelines in Turkey, will be protected by a newly developed integrated security systems. Critical points against terrorism, sabotage and theft will be followed by 7/24 with indigenous UAVs and closed circuit camera subsystems.

BOTAŞ’s critical pipelines will now be protected by the newly developed integrated security system and the field applications of the Safety of Oil and Natural Gas Pipelines Project have started with an agreement in Silopi with Aselsan-Havelsan joint venture.

Oil and Gas Pipelines in Turkey to Protect Unmanned Aerial Vehicles | Devamı>>>