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BP and other oil companies pulling staff out of Iraqi oilfields; output remains steady
BP, Eni, and TotalEnergies began evacuating their foreign personnel from the Iraqi oilfields in which they operate on Monday, according to state-run Basra Oil Company. Two oil officials said that the output from Iraq's south oilfields is currently unchanged, with exports of 3.32 million barrels each day. These measures are in response to the U.S.
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Thermal Coal May Offer An Affordable Solution As LNG Prices Rise
Thermal coal may end up as a major beneficiary of escalating hostilities in the Middle East, as the fuel used to generate electricity becomes cheaper than one of its main competitors liquefied natural gas (LNG).Much of the focus of the potential fallout from the conflict between Israel…
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Crude Output to Halt at Russia's Sakhalin-1 in August Due to Maintenance
Russia's largest oil producer Rosneft will suspend output of its export-oriented Sokol crude grade at its far eastern Sakhalin-1 project in August because of maintenance, three industry sources told Reuters.According to one of them, the maintenance will last between 20 and 25 days.
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New York to build advanced nuclear power plant in upstate New York, Governor says
Kathy Hochul, the Governor of New York, announced on Monday that the state plans to build a nuclear power plant capable of producing at least one gigawatt, making it the first new reactor in the United States for a generation. After decades of stagnation in the U.S., nuclear power is experiencing an renaissance.
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Sources say that Brazil's Petrobras has held off on raising fuel prices amid tensions with Iran.
Petrobras, the Brazilian oil company, is closely watching geopolitical tensions that have been driving up global oil prices in recent weeks. However, it does not intend to adjust domestic fuel prices at this time, according to two sources. Sources, who spoke on condition of anonymity…
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According to Russia's spy agency, Serbia sold ammunition via Bulgaria and Czech Republic to Ukraine
Russia accused Serbia of selling artillery to Ukraine via Eastern Europe through intermediaries, the second time in a week…
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Russell: Iran tensions are a factor in making thermal coal more affordable than LNG.
The escalating conflict in the Middle East may result in thermal coal being a major winner, since the fuel used for electricity…
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Soybeans and grain prices fall as Middle East tensions are in the spotlight
Chicago soybean futures slipped lower on Monday as they unraveled gains made after crude oil prices rose on fears that a U.S.
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Palm prices rise for the fourth consecutive session as crude oil remains firm and the ringgit is soft.
Malaysian palm futures closed higher on Monday after reversing losses earlier in the day. Stronger crude oil prices, a weaker…
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Octopus Energy and DTEK raise $115 Million for Ukraine solar projects
The companies announced on Monday that they are seeking to raise up to 100 solar- and battery-related projects in Ukraine…
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In Germany, solar power can offset the falling wind speed
In France, the baseload electricity prices were flat in comparison to the previous week. The lower wind supply that was expected…
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The price of gas in Europe is rising as geopolitical tensions fuel concerns about supply disruption
Dutch and British wholesale prices for gas rose on Monday as markets prepared themselves for Iran's reaction to the U.S. strike on its nuclear sites.
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Hungary's Orban calls on EU to lift Russian energy ban amid US/Iran conflict
Hungarian Prime Minster Viktor Orban urged on Sunday the European Union not to impose a ban on Russian Energy due to the…
Offshore Oil & Gas
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Orsted Favors Increasing Investments in Taiwan, South Korea
Orsted, the world's biggest offshore wind developer, will increase investment in Taiwan and South Korea where it has already been awarded projects…
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Commodity Report: Meeting Oil Demand a Challenge if Israel Hits Iran Oil
Oil market participants have switched to dreading a shortage in fuel from focusing on impending oversupply in just two days…
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Siemens: Britain Needs Record Offshore Wind to Meet Targets
Britain’s next renewable energy auction must secure a record amount of new offshore wind capacity if the country is to meet…
Shale Oil & Gas
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LNG Canada produces first liquefied natural gas for export
A Shell-led LNG Canada facility in Kitimat has produced the first liquefied gas for export, confirmed a project spokesperson on Sunday.
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Hungary's Orban calls on EU to lift Russian energy ban amid US/Iran conflict
Hungarian Prime Minster Viktor Orban urged on Sunday the European Union not to impose a ban on Russian Energy due to the…
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LNG Canada produces first liquefied natural gas for export, sources say
Two people who were familiar with the start-up of the plant said on Sunday that the Shell-led LNG Canada has produced its…
LNG
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Canada Could Produce First LNG by This Weekend
Canada could produce its first ever liquefied natural gas this weekend, from the LNG Canada export facility in Kitimat, British Columbia…
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Egypt To Buy Up To 160 LNG Cargoes Through 2026
Egypt has reached agreements with several energy firms and trading houses to buy 150 to 160 cargoes of liquefied natural gas…
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Shell to Add Up to 12 million Tons of LNG Capacity by 2030
Shell, the world's largest trader of liquefied natural gas, will add up to 12 million metric tons of additional capacity…
Renewables
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VEGOILS-Weak Dalian drags palm lower, firm crude, soft ringgit cushion fall
Malaysian palm futures fell on Monday as Dalian oil, a rival oil company, was weaker. Crude oil prices were also higher and the ringgit was weaker.
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GRAINS: Soybeans rise as soyoil increases on Middle East tensions, but corn falls on favorable weather
Chicago soybean futures edged higher on Monday. This was supported by soyoil price gains after the U.S. attack on Iranian…
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India has said it will not restore the Indus Water Treaty with Pakistan
Amit Shah, the Indian Home Minister, said that India would never restore the Indus water treaty with Islamabad and the water…
