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Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since three weeks. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending October 17. Baker Hughes reported that…
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Philippines to Increase Renewable Power Generation as Demand Surges
Philippines expects higher gas-fired and renewable power generation to fuel a projected 6.6% growth in power demand over the next two years, helping reduce dependence on coal, its energy secretary said on Friday.The country will continue to boost gas use for power generation and plans to add more gas-fired capacity to address rising demand…
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Sources say that Venture Global has been in talks with Ukraine about providing it with more LNG.
Three people have confirmed that Venture Global is in talks with Ukraine about selling it more liquefied gas from its Plaquemines plant, located in Louisiana. This comes as winter approaches and Russia continues to attack Ukraine's infrastructure. According to two people, the talks…
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Minister: France will not abandon the climate goals of the World Bank
Eleonore Caoit, France's new development minister, said that France would continue to press the World Bank for its climate finance agenda in spite of the pressure from the Trump administration to abandon it. Caroit, speaking to reporters at the World Bank's and International Monetary Fund's annual meetings in Washington…
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Vestas shelves Polish turbine plant amid weak European demand, FT reports
The Financial Times reported that Vestas, a Danish wind turbine manufacturer, has shelved its plans to build its largest factory in Poland due to a lack of demand on its main European market. The report could not be verified immediately. Vestas has not responded to the request for comment.
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BP confirms that the fire at Indiana oil refinery has been extinguished; multiple units are down
The company reported that a fire broke out at BP’s Whiting refinery, which produces 440,000 barrels of oil per day, on Friday morning.
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Philippines boosts gas-powered and renewable capacity to meet surge in demand
The Philippines' energy secretary stated on Friday that it expects increased gas-fired power generation and renewable energy…
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A2A CEO: Milan's data center capacity will increase tenfold within five years
The Chief Executive of A2A, an energy group, said that data centres in the financial capital of Italy, Milan, are expected…
Latest news
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Malaysia: Multilateral power deal delayed due to Thai politics; renewal expected next month
Malaysia's Energy Minister said that Thailand has postponed the renewal of a multilateral power trading agreement in Southeast…
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Sources say that Western pressure will affect Asian purchases of Russian oil in December.
U.S.-European pressure on Asian buyers could limit India's oil purchases from December. This would lead to cheaper supplies in China.
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SLB beats profit estimates on North America demand, ChampionX deal boost
SLB surpassed Wall Street expectations for the third-quarter profits on Friday as steady demand in North America, and contributions…
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Indian solar firms re-engineering their supply chains to avoid US tariffs
Executives report that Indian solar manufacturers are recalibrating supply chains in order to gain access to the lucrative…
Shale Oil & Gas
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Gas prices in Europe are falling as wind energy output increases
The Dutch and British wholesale prices of gas fell early on Friday due to the strong output from wind turbines, which reduced…
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Renewing gas flows prevents a new energy crisis in rebel area of Moldova
The head of Moldova's largest energy firm said that gas will be re-routed to the separatist Transdniestria Region. This will…
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NextDecade receives positive FID for Train 5 of the Rio Grande LNG Project in Texas
NextDecade, a U.S. producer of liquefied gas, announced on Thursday that it had made a final investment decision in favor…
LNG
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UK Targets Lukoil, Rosneft, Shadow Fleet with Sanctions
Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 51 shadow fleet tankers on Wednesday in what…
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Germany Sets New LNG Import Terminals into Operation
Germany is putting natural gas import terminals into operation as part of the country's efforts to replace piped Russian…
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Service Resumed at Berkshire Hathaway Energy Cove Point LNG Export Plant
U.S. energy firm Berkshire Hathaway Energy's Cove Point liquefied natural gas (LNG) export plant in Maryland returned to service on…
Renewables
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Increased wind production will weigh on Monday's spot prices
The strong increase in regional wind energy supply will likely bring down spot prices on Monday. The German and French baseload…
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Waaree, a leading Indian manufacturer of solar products, expands in the US despite a trade probe
Waaree Energies is India's top solar module maker and wants to expand in the largest economy of the world despite a trade…
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Palm oil follows weak crude oil down, and is set to fall weekly
Malaysian palm futures fell on Friday as crude oil prices dropped, causing the market to fall. By midday, the benchmark palm…