The reactor and the nuclear health centre will also be used to conduct research, development and innovation activities both in the field of nuclear medicine and nuclear power technology.

The Prohibiting Russian Uranium Imports Act was signed by President Joe Biden in May, after being passed unanimously by the US Senate and will go into effect on 11 August.

Discussions also included the possible implementation by Rosatom of a project for the construction of a second NPP at Sinop. Rosatom said possible design solutions would be based on the wishes of the Turkish side to strengthen the effect of the project on the Turkish economy.

The Paks II project was launched in 2014 by an inter-governmental agreement between Hungary and Russia for two VVER-1200 reactors (units 5&6) to be supplied by Rosatom. The contract was supported by a Russian state loan to finance the majority of the project.

State Grid Corp. of China, which covers more than 80% of the country, will increase spending 13% to 600 billion yuan ($83 billion) this year, the Economic Information Daily reported, citing a budget plan.

Benchmark futures settled 2.2% higher at €32.48 a megawatt-hour Friday after slumping a day earlier. The contract also posted a second straight weekly gain.

Following the South Korean government's decision to restrict state-owned power-generating companies from importing Russian thermal coal from the spot market towards the end of 2023, Russian exports lost ground to Colombian thermal coal supply in recent months.

Brent fell by 32 cents, or 0.4%, to $79.46 a barrel, WTI down 36 cents, or 0.5%, at $75.45 a barrel.

 Total submissions increased by 16% over last year to nearly 6,000  38% increase in submissions for Energy Transition and Decarbonisation and 32% increase in submissions for AI and Digital Transformation categories  Submissions reveal ADIPEC’s continued alignment with the wider energy industry’s focus on leveraging digital technologies and advancing decarbonisation

The ADIPEC 2024 Technical Conference has received a record 5,977 submissions, a 16% increase over last year, with major submission growth seen in the AI and Digital Transformation and Energy Transition and Decarbonisation categories, and increased submissions from African and Arab states.

AI chatbots such as ChatGPT and Bard are known as voracious consumers of electricity and water. More precisely, it is the colossal data centers powering them that are to blame and there are no signs of slowing down.

The International Energy Agency (IEA) predicts that the US data center electricity consumption will rise from 200 TWh in 2022 to about 260 TWh by 2026 – roughly 6% of US electricity demand – while a study by the Boston Consulting Group (BCG) puts the number at 7.5% by 2030.

However, this rapid transition has raised concerns about the stability and reliability of our energy systems. It's already becoming clear that the premature adoption of nascent technologies has led to:

The cessation of fossil fuel use would strand approximately $60 trillion of coal, oil and natural gas resources, depriving the owners of those resources of their profitable sale and depriving the nation of their beneficial use.

BRENT Crude trading at the Globex Open on a $76.57/bbl & WTI Crude trading at $73.64/bbl. This is after the US DOE finalised its purchase of 4.65m/bbl of Crude Oil for SPR to be delivered from October to December.ExxonMobil to also supply 3.9m/bbl,Macquarie Commodities trading to supply the rest at an average pricing of $76.92/bbl.

Ряд государств, входящих в ОПЕК+ (Россия, Саудовская Аравия, Алжир, Ирак, Кувейт, ОАЭ, Казахстан и Оман), которые ранее взяли на себя обязательства добровольного дополнительного сокращения добычи нефти на 2,2 млн баррелей в сутки, объявили о том, что после сентября 2024 года могут постепенно корректировать параметры сделки и наращивать добычу нефти в зависимости от рыночных условий.

The Joint Ministerial Monitoring Committee (JMMC) reviewed the crude oil production data for the months of May and June 2024 and noted the high overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).

Sweden and the USA have signed a memorandum of understanding aimed at pursuing cooperation in industrial collaboration, technology development, and research and innovation in technologies related to nuclear energy for peaceful purposes.

Brent gained 97 cents, or 1.27%, to $77.27 a barrel, WTI climbed $1.14, or 1.56%, to $74.08.

Престижная площадка для руководителей предприятий нефтегазовой промышленности Турции и Черного моря.