May 2022

In April, AEOI head Mohammad Eslami unveiled a Comprehensive Strategic Document of Iran’s Nuclear Industry which envisages the generation of 10,000MW of nuclear electricity.

The key focus would be to produce high-temperature heat which could be used for hydrogen production, to supply industrial processes and potentially district heating as well as electricity generation.

The DRACO program seeks to build a nuclear thermal rocket (NTR) engine and test it on orbit in Fiscal Year 2026 (FY26).

Norway intends to hold licensing rounds for new acreage at regular intervals from 2025 onwards.

Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6 percent, the U.S. Bureau of Labor Statistics reported

Brent was up $2.35, or 2.41%, to $104.84 a barrel, WTI climbed $2.2, or 2.24%, to $101.97 a barrel.

The price of OPEC basket of thirteen crudes stood at $108.18 a barrel on Tuesday,

The Brent price will average $107/b in 2Q22 and $103/b in the second half of 2022, the average price to fall to $97/b in 2023.

Thus, after the slump in March inflows, Russian crude imports by China's independent refiners recovered 35.7% year on year to 2 million mt in April

Russia supplied about 40% of the European Union’s gas demand last year, and about a third of that transited Ukraine, making it a linchpin in the continent’s energy security.