Egyptian Oil Minister Tarek El Molla has signed three offshore oil and gas exploration and production deals worth a total of at least $220 million with France's Total, Britain's BP and Italian oil major ENI's Egyptian subsidiary IEOC, the ministry said on Wednesday.
The deals include drilling for six wells and a signing bonus of $9 million, the ministry said in a statement, and are the result of a tender called by Egyptian state gas board EGAS. They are all in exploration blocks in the Egyptian Mediterranean Sea, Reuters reported. Egypt has gone from exporting energy to being a net importer as domestic output has failed to keep pace with rising demand. Saudi Arabia informed Egypt last month that shipments of oil products expected under a $23 billion aid deal had been halted indefinitely. The oil sector in Egypt has signed 73 oil and gas exploration deals with international oil companies in the past three years worth at least $15 billion.
Iran and Afghanistan are considering realization of 16,000 megawatts potential of renewable energy projects in border areas, IRNA reported.
Iranian Energy Minister Reza Ardakanian said 21 new power plant projects worth 210 trillion rials ($5 billion) will go operational by the end of the current calendar year (March 20, 2020) to add 3000 megawatts (MW) to the country’s power generation capacity.
Sarda Energy and Mineral Limited - one of the integrated steel producer based in central India has released its operational results for the first quarter of FY’20 ending Jun'19.
An Oregon State University study, published in the journal Scientific Reports, has found that if less than 1% of agricultural land was converted to solar panels, it would be sufficient to fulfill the global electric energy demand.
The head of the Atomic Energy Organization of Iran, Ali Akbar Salehi said, “Fordow nuclear site is one of the most active nuclear sites of Iran and its cooperation with different states, such as Russia is underway within the Joint Comprehensive Plan of Action (JCPOA), providing infrastructural scientific and technical needs of nuclear industry and other industries”.
National Iranian Oil Company (NIOC) will offer two million barrels of heavy crude oil at Iran Energy Exchange (IRENEX) on Tuesday, IRNA reported.