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Iran rebukes G7 after warning over nuclear escalation

  • : Crude oil, Electricity
  • 24/06/17

Iran's foreign ministry has called on the G7 to distance itself from "destructive policies of the past" after the group issued a statement condemning Tehran's recent nuclear programme escalation.

"Unfortunately, some countries, driven by political motives and by resorting to baseless and unproven claims, attempt to continue their failed and ineffective policy of imposing and maintaining sanctions against the Iranian nation," the foreign ministry's spokesperson Nasser Kanaani said on 16 June. Kanaani advised the G7 "to learn from past experiences and distance itself from destructive past policies".

His comments were in response to a joint statement from G7 leaders on 14 June warning Iran against advancing its nuclear enrichment programme. The leaders said they would be ready to enforce new measures if Tehran were to transfer ballistic missiles to Russia.

The G7's reference to Iran comes on the heels of a new resolution passed by the board of governors of the UN's nuclear watchdog the IAEA. The resolution calls on Iran to step up co-operation and reverse its decision to restrict the agency access to nuclear facilities by de-designating inspectors.

Kanaani said "any attempt to link the war in Ukraine to the bilateral co-operation between Iran and Russia is an act with only biased political goals", adding that some countries are "resorting to false claims to continue sanctions" against Iran.

Tehran will continue its "constructive interaction and technical co-operation" with the IAEA, Kanaani said. But the agency's resolution is "politically biased", he said.

The IAEA's new resolution and the reference to Iran in the G7 statement could be the start of a more concerted effort to raise pressure on Tehran over its nuclear programme.

"What is happening right now is the process of accumulation of resolutions, so that when the day comes and the IAEA makes a referral to the UN Security Council, there will be enough resolutions to make a case for action at the security council level," a diplomatic source told Argus.

Iran is enriching uranium to as high as 60pc purity. Near 90pc is considered to be weapons grade, according to the IAEA.


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25/02/19

EU draft plan seeks to cut energy costs

EU draft plan seeks to cut energy costs

Brussels, 19 February (Argus) — The European Commission has set out plans to tackle the cost of energy in the EU, warning in a draft document that Europe risks de-industrialisation because of a growing energy price gap compared to global competitors. High energy prices are undermining "the EU's global standing and international competitiveness", the commission said, in a draft action plan for affordable energy, seen by Argus . The plan is expected to be released next week, alongside a clean industrial deal and other strategy documents. Much of the strategy relies on non-binding recommendations rather than legislation, particularly in energy taxation. Officials cite EU reliance on imported fossil fuels as a main driver of price volatility. And they also highlight network costs and taxation as key factors. For taxation, the commission pledges — non-binding — recommendations that will advise EU states on how to "effectively" lower electricity taxation levels all the way down to "zero" for energy-intensive industries and households. Electricity should be "less taxed" than other energy sources on the bloc's road to decarbonisation, the commission said. It wants to strip non-energy cost components from energy bills. Officials also eye revival of the long-stalled effort to revise the EU's 2003 energy taxation directive. That requires unanimous approval from member states. The commission pledges, for this year, an energy union task force that pushes for a "genuine" energy union with a fully integrated EU energy market. Additional initiatives include an electrification action plan, a roadmap for digitalisation, and a heating and cooling strategy. A white paper will look at deeper electricity market integration in early next year. EU officials promise "guidance" to national governments on removing barriers to consumers switching suppliers and changing contracts, on energy efficiency, and on consumers and communities producing and selling renewable energy. More legislative action will come to decouple retail electricity bills from gas prices and ease restrictions on long-term energy contracts for heavy industries. By 2026, the commission promises guidance on combining power purchase agreements (PPAs) with contracts for difference (CfDs). And officials will push for new rules on forward markets and hedging. There are also plans for a tariff methodology for network charges that could become legally binding. Familiar proposals include fast-tracking energy infrastructure permits, boosting system flexibility via storage and demand response. Legislative overhaul of the EU's energy security framework in 2026 aims to better prepare Europe for supply disruptions, cutting price volatility and levels. Specific figures on expected savings from cutting fossil fuel imports are not given in the draft seen by Argus . But the strategy outlines the expected savings from replacing fossil fuel demand in electricity generation with "clean energy" at 50pc. Improving electrification and energy efficiency will save 30pc and enhancing energy system flexibility will save 20pc, according to the draft. The commission is also exploring long-term supply deals and investments in LNG export terminals to curb prices. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

UK Gulfsands Petroleum eyes return to Syria's upstream


25/02/19
25/02/19

UK Gulfsands Petroleum eyes return to Syria's upstream

Dubai, 19 February (Argus) — London-listed Gulfsands Petroleum plans to return to Syria's upstream as soon as sanctions on the country are lifted and "circumstances allow," the company's managing director John Bell said. "Sanctions discussions are occurring not only in the EU, but also in the UK and US," Bell told Argus . "In summary, we view these developments as generally positive. Gulfsands has always intended to return to its operation in Syria when the circumstances allow." Gulfsands holds a 50pc operating stake in two oil fields in Syria's block 26, in the country's northeast near the border with Iraq, an area long controlled by the Kurdish-led Syrian Democratic Forces (SDF). Chinese state-owned Sinochem holds the remaining 50pc. Force majeure was declared in December 2011 with respect to the contract after the introduction of EU sanctions against Syria. The fields were producing 24,000 b/d at the time. Since then, control of the fields has been unclear at times. By 2017 Gulfsands said production was averaging around 15,000-20,000 b/d, although it added that was without its participation. Bell said the company can only return "if the current relevant energy sanctions in the EU, UK and US as revised and hence international companies are permitted to return to their operations, bringing with them vital investment, people, equipment and know-how." In January, the EU's high representative for foreign affairs Kaja Kallas said the bloc would begin easing sanctions against Syria within weeks , starting with economic and energy restrictions. More recently she said the EU would meet on 24 February to discuss the lifting of sanctions on Syria, and told Argus the prospect of this "is looking promising" albeit internal European politics could slow the process. Road to recovery Once a 600,000 b/d-plus producer, Syria's crude output has been on the decline over the past three decades. Just before the start of the civil war in 2011, production had was below 400,000 b/d, and by May 2012 it had fallen to 200,000 b/d, the Syrian government said. Today it is less than 100,000 b/d, with only around 16,000 b/d or so coming from fields in areas under the former Assad government's control. "At the moment, oil production in Syria is largely opaque, illicit, unsafe, destined for the black market and causing enormous environmental damage… [and] production volumes have decreased recently due to these unsustainable practices," Gulfsands' Bell said. Whether Syria can reverse this downward production trend "will depend on the approach taken by the new Syrian government," he said. If they properly leverage existing centralised government institutions and work with returning international energy companies, Bell said he could see crude output returning to not only pre-2011 levels, but even as high as 500,000 b/d "within several years." By Nader Itayim and Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Singapore adds $3.7bn clean energy funds, mulls nuclear


25/02/19
25/02/19

Singapore adds $3.7bn clean energy funds, mulls nuclear

Singapore, 19 February (Argus) — Singapore will add a further S$5bn ($3.7bn) to its clean energy fund, and is also studying the potential for nuclear deployment, said the country's prime minister Lawrence Wong on 18 February. Singapore's Future Energy Fund was set up in 2024 with an initial injection of S$5bn to develop clean energy options. Expanding access to clean energy is a major national imperative as "the industries of the future," such as artificial intelligence and semiconductors, are highly energy intensive, said Wong at the unveiling of the country's budget for 2025. "Be it electricity imports, hydrogen or nuclear, we need to make major investments in new infrastructure," said Wong. A short-term solution is to import low-carbon electricity from the region. Singapore expects about a third of its projected electricity demand in 2035 to be met through electricity imports, according to Wong. The country aims to import 6GW of low-carbon electricity by 2035 , and has signed supply agreements with Malaysia , as well as granted conditional approvals to projects in Indonesia. But Singapore needs to have its own domestic sources of clean power, said Wong. Singapore has been evaluating the use of low-carbon hydrogen for power, "but there are inherent challenges in the production, storage and transportation of hydrogen, which make it hard to scale up in a commercially viable manner," Wong added. Nuclear power could be another option. Singapore had considered the possibility of developing nuclear power in 2010, but assessed that conventional nuclear technologies were not suitable. Since then, there have been significant advancements in nuclear technologies such as small modular reactors (SMRs), which have better safety features than conventional reactors, said Wong. Interest in nuclear energy is also rising in the region, with several countries planning to include it in their energy mixes, such as Indonesia and the Philippines. Singapore has signed agreements with the US on civil nuclear co-operation, and is working on similar collaborations with other countries that have capabilities and experience, especially with SMRs, said Wong. Singapore submitted its new emissions reduction target on 10 February, aiming to reduce emissions to 45mn-50mn of CO2 equivalent (CO2e) in 2035 as part of its nationally determined contribution. Singapore aims to decarbonise its transport sector, which currently accounts for about 15pc of total emissions, in line with its emissions reduction goals. Singapore will introduce a new heavy vehicle zero emission scheme and a heavy electric vehicle (EV) charger grant to accelerate the adoption of cleaner heavy vehicles. The grant will provide incentives for the purchase of heavy EVs and co-funding of charging infrastructure, said Wong. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Guyana unfazed by Trump’s ‘drill, baby, drill’ vow


25/02/18
25/02/18

Guyana unfazed by Trump’s ‘drill, baby, drill’ vow

Georgetown, 18 February (Argus) — Guyana, one of the fastest-growing crude producers in the world, sees little threat from US President Donald Trump's pledge to flood global markets with cheap supplies. Despite Trump's vow to scrap a slew of regulations he claims are holding back US oil producers, Guyana's vice president Bharrat Jagdeo does not expect there to be a "major supply response." "If the prices come down, as President Trump wants, then it would also make some of the existing operations in the US — particular with (hydraulic fracturing) fracking — it may make them not feasible," Jagdeo said on the first day of the Guyana Energy Conference and Supply Chain Expo in Georgetown, Guyana, on Tuesday. Guyana's low breakeven costs and the quality of its crude will help it to maintain a competitive advantage going forward, he said. The vice president shrugged off concerns over the oil market as concerns grow over waning demand from China, the top importer. He pointed out that ExxonMobil just started the approval process for its seventh and eighth projects in the giant Stabroek block offshore Guyana, where the discovery of oil in 2015 has transformed the economic fortunes of the tiny South American nation. "They (ExxonMobil) study the oil markets, they probably know the oil markets more than any government official," Jagdeo said. "Clearly they see in the future a demand for fossil fuel, and they believe that in Guyana we have a unique opportunity to supply that market." Demand for fossil fuels is likely to remain "relatively high" for the foreseeable future while renewable sources lag behind, he said. Guyana, located on South America's northern coast bordering Venezuela, Suriname, and Brazil, has become a fast-growing non-Opec supplier since oil was first pumped in 2019. Output has accelerated to 650,000 b/d from zero in the space of around five years. And gross output is seen growing further to 1.3mn b/d by the end of the decade as new projects come online. By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Нефтетранспорт - НТС: правила на рынке меняются


25/02/18
25/02/18

Нефтетранспорт - НТС: правила на рынке меняются

Moscow, 18 February (Argus) — Ситуация в сегменте железнодорожной транспортировки нефтеналивных грузов остается сложной. О причинах, приведших к этому, взаимодействии с грузоотправителями и планах строительства нового парка рассказал Argus генеральный директор Нефтетранссервиса (НТС) Сергей Ермолаев. — Как вы охарактеризуете текущую ситуацию на рынке перевозок нефтяных грузов по железной дороге? — Наблюдаем падение грузооборота и тоннажа отправок. Меры РЖД, которые должны были вернуть отправителям веру в надежное обеспечение парком, а также дать гарантии вывоза груза, пока не привели к результату. — Какие факторы к этому привели? В чем основные сложности для НТС? — Сегодня всем непросто, и наше положение не отличается от других субъектов экономики. Ограничения экспорта топлива из России, полное закрытие границ Казахстана на заезд порожнего парка цистерн, атаки на перерабатывающую и транспортную инфраструктуру, тарифные инициативы перевозчика, рост ключевой ставки Центрального банка России (ЦБР) — все это делает невозможным долгосрочный прогноз. А без прогноза нет инвестиций. В такой ситуации рынок выбирает простые схемы купил-продал. Это давит на переработку, на наших клиентов и на нас, соответственно. — НТС является одним из основных перевозчиков нефтеналивных грузов с заводов Роснефти. Как оцениваете итоги работы по этим долгосрочным контрактам? Как, на ваш взгляд, будет строиться дальнейшее сотрудничество с нефтяной компанией после завершения договора в конце I квартала 2026 г.? — Роснефть — наш главный клиент. Несмотря на то, что ни один из основных параметров, лежавших в основе долгосрочных договорных отношений, не сохранился в изначальном виде, компания чутко и оперативно адаптируется к новым обстоятельствам. В настоящее время мы совместно с коллегами выверяем позиции перед будущим тендером. У всех появился новый опыт, который должен быть учтен в новом цикле. Работа непростая, времени осталось совсем немного, но мы надеемся успеть вовремя. Разумеется, речь о ценах пока не идет. Нашей задачей является описать взаимные обязательства так, чтобы они имели ясные критерии исполнения и могли бы быть оцифрованы ставкой в ходе тендера. — Рынок в этом году столкнется со значительным выбытием нефтебензиновых цистерн. Планирует ли НТС покупки новых вагонов? — Мы ждем снижения ставки ЦБР, а точнее сужения разрыва между инфляцией и стоимостью кредитов. Также мы ждем, что из-за уменьшения заказов на постройку нового парка вагоностроители пересмотрят свою рентабельность до разумных уровней. Вероятно, после этого мы сможем начать постройку парка. Не исключено и принудительное снижение срока службы вагонов. Это создаст дефицит, увеличит требования к доходности нового парка из-за неопределенности будущего срока окупаемости. Тогда тоже можно будет строить. Но мы надеемся, что этого не произойдет: в условиях ограниченных ресурсов вряд ли нужно утилизировать то, что еще может послужить. Да и нагружать экспортеров новыми затратами странно, когда Россия нуждается в экспортных доходах. — Планирует ли НТС в ближайшее время развивать перевозки другой номенклатуры грузов, помимо нефтеналивных? — Мы всегда в поиске. Но вход в новые рынки требует хорошей аналитики, а сейчас мы находимся в ситуации отмены всех известных нам правил и принципов. В результате вся предыдущая статистика оказывается слабо применима. Если какие-то идеи выдержат и эти условия, обязательно их реализуем. Нефтетранссервис (НТС) Является одним из лидеров на рынке железнодорожных перевозок нефти и нефтепродуктов, парк в управлении превышает 35 тыс. единиц. Помимо вагонов-цистерн и локомотивов, холдингу принадлежат производственные предприятия в Центральном, Приволжском, Южном и Дальневосточном федеральных округах. Более 19 лет НТС сотрудничает с ведущими компаниями топливно-энергетического комплекса России. Сергей Ермолаев В 1997 г. окончил Московскую государственную академию приборостроения и информатики, в 2009 г. — Академию народного хозяйства при правительстве Москвы. В разные периоды времени занимал руководящие должности в сфере организации железнодорожных перевозок сначала в Северной грузовой компании, а затем в НТС, где в течение 2013—2021 гг. возглавлял коммерческое управление перевозок наливных грузов, направления логистики и эксплуатации подвижного состава. В начале 2022 г. был приглашен в Национальную транспортную компанию на должность коммерческого директора. С июня 2024 г. — генеральный директор НТС. Вы можете присылать комментарии по адресу или запросить дополнительную информацию feedback@argusmedia.com Copyright © 2025. Группа Argus Media . Все права защищены.

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