METI does not see any need for an emergency LNG supply, despite the fact that Japanese utilities have increased their LNG reserves
The Ministry of Economy, Trade and Industry said that major Japanese utilities have increased their liquefied gas stocks by 10% to?2,19 million metric tonnes last week. The LNG stocks of Japan's utilities, the second largest LNG buyers in the world, equaled around 12 days domestic consumption for the week ending March 1. The LNG stockpiles of utilities in Japan…
NY court refuses overturn arbitral ruling that favors Venture Global over Shell
A state judge in New York rejected Monday the request of British oil giant Shell to overturn an arbitration award which favored Venture Global. The dispute was about Venture Global's alleged improper sales of liquefied gas by American company. Justice Joel Cohen, of the Supreme Court of California, determined that no further discovery was necessary because the court must defer to arbitral rulings.
Venezuela suspends 19 oil, gas production-sharing contracts signed under Maduro, sources say
Four sources familiar with the matter said that Venezuela's oil ministry suspended 19 contracts signed with private companies under the?administration? of President Nicolas Maduro. Sources say that the suspension of the contracts has not affected the oil and gas production in the country. The sources added that the state oil giant PDVSA sells the crude produced by the contracts even though they are suspended.
Shell's legal battle against Venture Global is centered on communication with the engineer, a court transcript shows
Shell's appeal against its arbitration loss to liquefied gas producer Venture Global centers on possible communications between the U.S. company and independent engineer Lummus Consultants. A draft court transcript, seen by shows, details these potential communications. The transcript of a New York Supreme?Court?hearing on January 12 includes more…
Gas subsidies for the government are shrinking in China's North, causing villagers to shiver.
He Wenxiang, a 72-year old farmer, sits on his bed, wearing several layers, including a fur-collared black jacket and a hat. He removes the thermometer from the wall, which reads "about 14 degrees Celsius" (57 degrees Fahrenheit). Despite temperatures outside of minus one C (30 F), he only runs his gas heater?occasionally in order to?warm the radiator in his room.
Venture Global responds to Shell's fraudulent claims in LNG arbitration
Venture Global responded late Tuesday night to Shell's legal challenge over its loss in an arbitration case involving liquefied gas cargoes. The company rejected allegations of fraud, and accused Shell of breaching arbitration confidentiality. The legal documents filed in New York Supreme Court are the latest in a long-running saga about Venture Global's inability to deliver LNG in accordance with long-term contracts…
Brann Named Business Manager at MiM
Marketing in Maritime (MiM), the specialist networking and development community for marketing and communications professionals in the marine and energy sectors, appointed Kae-Ley Brann to a new role of Business Manager.Brann joins at a pivotal time in the Marketing in Maritime journey, as it prepares to embark on an ambitious new chapter as a community-led professional development platform.
Elon Musk, Jensen Huang to talk AI at US-Saudi investment forum
According to a document that was seen by us, Elon Musk of Tesla and Jensen Huang of Nvidia will be taking part in a panel discussion about artificial intelligence and technology on Wednesday at the U.S. Saudi Arabia Investment Forum in Washington. The document stated that "This conversation will examine the emerging forces shaping a new wave of technological advancement…
JX Advanced Metals, a Japanese company, will increase the processing capacity of recycled material
JX Advanced Metals, a Japanese company that specializes in metals and recycling, announced on Friday its intention to invest $7 million to improve pre-treatment capabilities. The goal is to increase the amount of raw materials recycled for processing. The company, which is experiencing a decline in profitability from copper concentrate smelting operations, is looking at scaling down options and promoting 'green hybrid smelting'.
Solar and wind farms will be scrutinized more closely by USDA, but some projects may still continue
According to a release, the U.S. Department of Agriculture announced on Tuesday that it would increase scrutiny of certain solar and wind energy projects. However, they did not end all support from their agency for clean energy projects in U.S. farmland. The announcement came a day following an announcement by Agriculture Secretary Brooke Rollins…
Energy, mining shares drag TSX lower
Canada's benchmark stock index dipped on Wednesday as investors assessed updates related to tariffs and important U.S. inflation statistics. The S&P/TSX Composite index fell 0.1% to 27,027.81. As part of a new agreement, U.S. president Donald Trump announced that a 19% duty would be placed on Indonesian products. This was done ahead of the August 1 deadline for tariff increases.
Investors assess US-Canada Trade Talks and TSX increases
Investors assessed the revival in trade talks between Washington & Ottawa. The S&P/TSX Composite index rose 0.2% to 26733.42 point, logging its fourth consecutive quarter of positive growth. Donald Trump called off Friday's trade talks over Canada’s digital services tax that targets U.S. tech firms. He described it as a "blatant" attack. Canada scrapped its tax late Sunday night…
What is in the Republican tax plan and spending plan
The Republican-led House of Representatives passed a comprehensive budget package which would meet many of the priorities of President Donald Trump. The Republican-led Senate will now consider the package, and it is likely that significant changes will be made. The Congressional Budget Office and the Joint Committee on Taxation have provided cost estimates for the main elements of the package.
OPEC+ targets US shale again with output increases
Saudi Arabia and Russia, the group's leaders, are also pushing a secondary objective behind OPEC+’s plan to increase oil production and punish overproducing allies: taking on U.S. shale to win back market shares from the United States. OPEC’s last price war against U.S. producers ten years ago failed, as technological and drilling breakthroughs allowed U.S.
What is in the Republican tax plan and spending plan
Republicans in Congress are advancing a sweeping package of budget cuts and spending reductions that would meet President Donald Trump's demands. However, details need to be worked out. The Joint Committee on Taxation (JCT) and the Congressional Budget Office have estimated the impact of this plan on the budget for the next ten years. (Cost: $2.2…
What is in the Republican tax plan and spending plan?
Republicans in Congress have proposed a sweeping package of budget cuts and spending reductions that would meet President Donald Trump's demands. However, details are still to be worked out. The Joint Committee on Taxation (JCT) and Congressional Budget Office have estimated the major components of the package as well as the impact on budgets over the next ten years. The list excludes smaller elements from each section.
What is in the Republican health and tax plan and what's not?
Republicans in Congress released the first drafts of a sweeping package to reduce taxes and spend less, which would satisfy President Donald Trump’s call to do so. However, many details need to be worked out. Here's a summary on what they've proposed so far and what has been left out. Budget estimates for the next 10 year period are provided by both the Joint Committee on Taxation (JCT) and the Congressional Budget Office.
Republican US lawmakers support IRA energy tax credit
Republican U.S. legislators sent a letter on Thursday to the chair of the House Ways and Means Committee expressing their support for the tax credits that were boosted by former president Joe Biden's Inflation Reduction Act. This legislation was not voted for by Republicans. The letter was signed by a dozen Republican U.S. The letter from a dozen Republican U.S.
Rubio: An attack on Exxon or Guyana would be a 'bad day for Venezuela'
Marco Rubio, U.S. secretary of state during a Thursday visit to Guyana’s capital, said that it would be "a bad day" if Venezuela attacked its neighbor Guyana and the U.S. energy giant ExxonMobil. Guyana and Venezuela have been locked in a longstanding dispute over which country holds the rights to the area of Esequibo, spanning 160,000 square kilometers (62…
Irish Government approves floating LNG emergency facility
On Tuesday, the Irish government announced that it had approved the development of an emergency temporary facility for importing liquefied gas (LNG) and storing it. Ireland is one out of five EU members without domestic storage. The government says this is a problem in the event that one or both subsea interconnectors are damaged. The emergency reserve is a floating storage unit and regassification (FSRU) with a capacity of 170…