Equinor, a Norwegian company, awards ten-billion-dollar five-year contracts to suppliers
Equinor announced on Thursday that it had signed framework agreements with a group of suppliers worth 100 billion Norwegian crowns (9.93 billion dollars) for the maintenance and modification of its offshore?and onshore?installations. Aibel Group, Wood Group and IKM Group as well as Head Energy, Rosenberg Worley and Aker Solutions signed new five-year deals with the option to extend them by another three and two years.
South Africa relaxes antitrust rules for companies facing high electricity costs
South Africa has loosened its antitrust regulations to allow firms battling high energy costs to build energy infrastructure together and negotiate contracts collectively. In a government announcement seen by on Tuesday, South Africa's Trade Minister Parks Tau stated that the new measure was meant to help?distressed industry. The Minerals Council of South Africa says that electricity costs have increased by over 900% in the last five years.
US Natural Gas Futures Rise as Forecasts Predict Colder Weather
U.S. natural gas futures rose on Friday in thin-volume trading and were on track for a weekly gain, ending a two-week losing streak, as forecasts pointed to colder weather and increased demand in the weeks ahead.Front-month gas futures for January delivery on the New York Mercantile Exchange were up 4.4 cents, or 1% at $4.29 per million British thermal units. The contract was up 8.5% so far this week.Prices reached their highest level since December 11…
US EPA anticipates finalizing biofuel regulations in the first quarter of 2026
The U.S. Environmental Protection Agency is expected to finalize the 2026 and 2027 mandates for biofuel blends in 2026, 2027, and 2028, which were originally expected to be finalized in late October or in the first quarter of next year. The Trump administration has pushed one of its most important energy policies into 2026. Companies say that without clarity on quotas they are forced hold back on deals, and to delay spending decisions which shape output and margins.
Nigerian oil companies strike deals with flare-gas to reduce emissions and boost energy
Heirs Energys, a Nigerian oil company and the state-owned NNPC announced on Wednesday that they had signed agreements to capture and monetise the gas that is otherwise wasted by flaring. Flaring is the act of burning fuel in the open. Nigeria has the largest gas reserves in Africa and relies on gas to fuel industrial growth and reduce emissions. The Decade of Gas is a policy that aims to increase domestic gas supply, reduce flaring, and expand LNG exports.
EUROPE GAS-European Prices Rise on Slightly Stronger Demand Outlook
Dutch and British gas rates firmed up on Tuesday. Forecasts suggest a slightly higher demand, although both pipeline?and liquefied (LNG?) supply remain robust. LSEG data revealed that the benchmark Dutch front-month MWh contract at TTF hub had increased by 0.16?euros to 27.33 euros (MWh) or $9.33/mmBtu as of 0913 GMT. It fell to its lowest level in April 2024, 26.75 Euros/MWh on Monday. The Dutch day-ahead contracts eased by 0.03 euros, to 26.77 Euros/MWh.
Glencore reduces copper target for next year, aiming at 1.6 million tonnes by 2035
Glencore cut Wednesday its copper production guidance for 2026, but stated that it hopes to reach 1.6 millions metric tons of copper by 2035 with new and restarted mining operations and streamlined processes. Gary Nagle, CEO of Glencore, said at the first investor day held in London for three years that "we have a path to surpass 1 million tonnes annual production in our base copper business by 2028".
Sources say that OPEC+ will maintain its oil production policy.
Four OPEC+ sources have said that OPEC+ is likely to leave the oil production levels unchanged during its Sunday meetings. The group has slowed down its efforts to regain market shares amid fears of a looming glut. The meeting of OPEC+ - which pumps half the world's crude oil - comes at a time when the United States is trying to broker a peace deal between Russia and Ukraine, which would increase oil supplies if sanctions against Russia were eased.
Sources say that OPEC+ will maintain its oil production policy on Sunday.
Three delegates said that OPEC+ will likely leave the oil production levels for the first three months of 2026 unchanged when it meets on Sunday. This would moderate the push to regain the market share amid fears about a looming glut of supply. Oil prices are under pressure due to the prospect of a peace agreement between Russia and Ukraine. Brent crude oil closed Friday at $63 per barrel, down 15% for the year.
German Protest on Monday is boosted by lower wind output
German power prices will likely rise on Monday due to a decline in wind power production, which is offset by a small drop in demand. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0909 GMT Friday. LSEG data shows that German wind power production is expected to drop by 3.7 gigawatts on Monday to 24.9 GW. Meanwhile, French wind power is expected to increase 3.5 GW from 10.9 GW.
EUROPE GAS - European prices stable in a new lower range
The Dutch and British contracts for gas were slightly weaker Thursday, but they remained at 18-month lows, hit earlier in the week, due to milder weather and abundant supply, as well as hopes of a Ukraine Peace Deal. However, some winter risks still remain. LSEG data shows that the benchmark Dutch front-month contract was 29.05 euros per Megawatt Hour (MWh) or $9.86/mmBtu at 0925 GMT. This is a decrease of 0.20 euros.
French prompts to be cut by more than half due to forecasted weaker demand
The French spot electricity prices fell on Friday on the back of forecasts for higher temperatures and a stronger wind supply. Germany's prices, however, were not traded but were bid lower. LSEG’s day-ahead analyses cited a lower residual load overall in Germany, which meant fewer thermal plant requirements, with some intraday variations. LSEG data indicated that the electricity demand for the day ahead will probably fall by 1.8 gigawatts to 63.4 GW in Germany…
Oil Prices Fall as Ukraine Signals Support for Peace Deal
Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be yielding fruit.An end to the war in Ukraine could pave the way for the unwinding of Western sanctions against Moscow's energy trade, potentially adding more supply at a time when prices have been battered by expectations of a glut next year.Brent crude futures fell $1.45, or 2.3%, to $61.92 a barrel by 11:19 a.m.
BB Energy, a Houston-based trader, has parted ways with several Houston traders as part of a major reorganization.
Sources familiar with the situation said that commodities trader BB Energy laid off more than a dozen employees from its Houston office and parted ways with some oil traders as part of a major restructuring. A spokesperson for BB Energy confirmed that the company had made adjustments to focus its efforts on its most profitable core businesses, while also diversifying into new high-potential markets. The company didn't say how many people were affected by the changes.
Commodities trader BB Energy lays some Houston traders off in major reorganization
Sources familiar with the situation said that BB Energy, a commodities trader, has cut over a dozen employees from its Houston office. This includes oil traders. The move is part of a major restructuring. A spokesperson for BB Energy confirmed that the company had made changes in order to focus its efforts on its most profitable core business while also diversifying into new high-potential markets. The company didn't say how many people were affected by the changes.
Kuwait's latest tender invites bids on a new 0.5-GW Solar Project
Kuwait invited pre-qualified consortiums to submit bids for a new solar power project of 0.5 gigawatts, which aims to expand clean energy generation in the Gulf State. Kuwait Authority for Partnership Projects announced in its official gazette on Sunday that the second tender of the year will cover the Al Dibdibah Power & Al Shagaya Renewable Energy Phase III - a Zone 2 Solar Power PV Independent Power Project.
Ukraine imports US LNG from Greece to meet winter needs
The Ukraine will import U.S. liquefied gas from Greece for its winter requirements from December to March of next year. This was announced by Greek and Ukrainian officials on Sunday, during the visit to Athens of President Volodymyr Zelenskiy. Ukraine will import natural gas through a pipeline running across the Balkan Peninsula to ensure critical supplies following Russian attacks on energy infrastructures and gas production plants.
Lukoil attracts buyers for its foreign assets
The foreign assets of Russian oil giant Lukoil, which range from Egypt to Kazakhstan are attracting bidders. Time is running out for the deals to be completed before U.S. sanctions are enforced. As part of their efforts to get the Kremlin into peace talks on Ukraine, the U.S. has imposed sanctions against Lukoil. They have already blocked Lukoil’s attempts to sell foreign assets before the deadline of November 21, 2015.
A2A, Italy's data center investment company, has increased its investment plan by $27 billion.
A2A, an Italian multi-utility company, announced on Wednesday that it has increased its projected total investments for 2024-2035 from 23 billion euros to 27 billion dollars. 1.6 billion euro of this amount is earmarked to create and manage data centres. The updated business plan, which will be presented later to analysts, increases projected investments by 1 billion euro and raises financial targets in part three of the strategy.
Datagro reduces sugar surplus forecast by 1 million tonnes on Brazil and India
Datagro, a consultancy, said that the global sugar market will have a smaller than expected surplus for 2025/26, which began in October, due mainly to production cuts made in Brazil and India. Datagro announced in a conference call with its clients that they were reducing their estimate of the global sugar surplus for 2025/26 to 1 million metric tonnes, down from 2.8 millions tons previously forecast.