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FT reports that BP investors want clarity on the ousting of the chair.
The Financial Times reported that top BP investors and ex-executives'said that they were in the dark as to the 'exact circumstances which led to the departure of a former?chair Albert Manifold. BP didn't immediately respond to a request for a statement outside of regular business hours.
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Palm oil prices continue to fall due to weak demand
Malaysian palm oil futures declined on Tuesday, after rising the previous session. This was due to a sluggish demand for exports that continues to weigh on the market. By midday, the benchmark palm oil contract for August delivery at the Bursa Derivatives exchange was down 77 Ringgit or 1.68% to 4,498 Ringgit ($1,107.34).
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Palm exports slump to a two-week low due to weak demand
The market for Malaysian palm oil futures reverted to its previous gains on Tuesday as export demand continued to be a drag. The benchmark palm oil contract for August delivery at the Bursa Derivatives exchange was down 48 Ringgit or 1.05% to 4,527 Ringgit ($1,115.57), the lowest price since May 26.
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BP's upstream unit will be headed by Gordon Birrell and downstream by Richard Harding
BP announced on Tuesday that Gordon Birrell, a company veteran, will lead the upstream?unit and Richard Harding is the interim head of its downstream?unit. This change was part of BP's earlier announced restructuring into?two major business segments. BP fired its former Chairman Albert Manifold 'last month due to bullying allegations.
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Norway Parliament vote on subsidy review casts doubts on floating wind project
The Norwegian parliament ordered the government on Tuesday to review the planned subsidy it had given for the country's first commercial floating offshore windfarm, raising fears of a "full stop" in development and a "wider impact" on energy transition projects. The Progress Party…
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ADNOC executive: ADNOC is looking at Canada's upstream LNG and XRG opportunities through its XRG arm
A senior executive of the Abu Dhabi National Oil 'Company' said on Tuesday at the Global Energy Show, in Calgary, that it…
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Qcells begins cell production in Georgia factory, a milestone for US solar
Qcells is the U.S. arm of Hanwha's solar division in Korea. The company announced on Tuesday that it had begun'making solar…
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EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
The Energy Information Administration's Short-Term Energy Outlook released on Tuesday said that the U.S. electricity consumption…
Latest news
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EIA: US natgas production and demand will reach record highs by 2026
The U.S. Energy Information Administration released its Short-Term Energy 'Outlook' on Tuesday. EIA predicted dry gas production…
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Nikkei reports that Malaysia will promise Japan the maximum possible LNG and naphtha supply.
The Nikkei reported that the Malaysian Prime Minister would agree to supply a large amount of liquefied gas and naphtha to…
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Venezuela's IMPSA is renegotiating a key hydroelectric contract with the company, its head has said.
The president of IMPSA, an energy company, said that the firm has made progress in renegotiating a deal to redevelop and…
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China purchases LNG after Iran shock: Russell
China, the top consumer of liquefied natural gases in Asia, is showing signs of returning to market. According to commodity analysts Kpler…
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The host of the Climate Summit, Turkey, proposes a 2035 global electric target
The president of this year’s global climate conference said that Turkey would'seek to gather support for a 'global target' for electricity…
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Inpex will seek an order from Australia's workplace Tribunal to stop the labour action at Ichthys LNG
Japan's Inpex announced on Tuesday that it will seek urgent orders from Australia's Fair Work Commission in order to stop?protected?industrial…
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China's oil imports continue to decline as volumes in May hit an eight-year low
China's crude imports in May fell 29%, to the lowest level?in 8 years. This is a continuation of a sharp drop that has been…
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China purchases LNG after Iran shock: Russell
As China, the top buyer of liquefied natural gases in Asia, shows signs of returning to the market, the demand for the gas is slowly recovering.
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US judge overturns Trump's policy on wind and solar tax breaks
According to court documents, a U.S. Judge vacated the Trump Administration policy that was implemented last year and made…
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Nvidia's AI PC push banks on unproven demand beyond niche users
Analysts said that Nvidia’s entry into AI PC market last week with its RTX Spark Superchip is less a breakthrough 'for regular…
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Palmettos climb on expected output decline, but Indonesian uncertainty limits gains
Malaysian palm futures rose a little 'on Monday, after two sessions of falling prices. This was due to the lower production expected in May.
Shale Oil & Gas
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China's oil imports continue to decline as volumes in May hit an eight-year low
China's crude imports in May fell 29%, to the lowest level?in 8 years. This is a continuation of a sharp drop that has been…
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China purchases LNG after Iran shock: Russell
As China, the top buyer of liquefied natural gases in Asia, shows signs of returning to the market, the demand for the gas is slowly recovering.
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New Zealand selects two LNG terminal bidders for energy security
New Zealand announced on Tuesday that it had selected 'two' providers for the proposed liquefied gas import facility. The…
LNG
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TotalEnergies Remains Silent as Russia Approves Sale of Arctic LNG 2 Stake
Russian President Vladimir Putin has approved the sale of a 10% stake in the sanctioned Arctic LNG 2 project held by France's…
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SEFE, Ksi Lisims LNG Agree on long-Term LNG Supply
German state-owned gas importer SEFE said on Wednesday it agreed to purchase 1 million tonnes of liquefied natural gas per…
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Revenue for Russian LNG Exports Decreases as Shift to Asia Doubles Costs
Russia's diversification of its liquefied natural gas exports to Asia after the loss of the European market will cut its…
Renewables
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US judge overturns Trump's policy on wind and solar tax breaks
According to court documents, a U.S. Judge vacated the Trump Administration policy that was implemented last year and made…
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Ormat completes the industry's largest design for geothermal power plants
The U.S. renewable energy company Ormat Technologies has developed a design for a geothermal plant that is 'the largest in the industry.
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Nvidia's AI PC push banks on unproven demand beyond niche users
Analysts said that Nvidia’s entry into AI PC market last week with its RTX Spark Superchip is less a breakthrough 'for regular…
