Exxon CEO: First LNG expected at Golden Pass in March
Exxon Mobil's CEO Darren Woods announced on Friday that production?of liquefied gas will begin at the Golden Pass export terminal in Texas in March. This marks a significant milestone for the project. The?project, a joint venture between QatarEnergy and the U.S. government, will be the newest LNG?plant in the U.S. After construction began in 2019, the $10 billion project has suffered from delays and cost increases. The project had to switch its lead contractor when it filed for bankruptcy, claiming overruns in cost. Woods stated during…
India's BPCL seeks renewable energy investments abroad
Bharat Petrol Corp. (BPCL), a state-run refiner in India, is scouting for global opportunities. These include strategic investments, acquisitions, and?solar wind and hydropower. The refiner will continue to expand refineries and pursue renewable energy, but stresses that conventional fuels are still essential for meeting India's rapidly growing energy demand. You have to keep up with the growth. "It is not green or conventional, you must go together," Subhankar Sen (BPCL director of marketing) told? On the?sidelines the India Energy Week Conference. India is the third largest emitter of greenhouse gasses in the world.
Syrian forces push deeper into the US-backed Kurdish controlled northeast
Officials and security sources reported on Sunday that Syrian government troops were pushing toward Raqqa in the northeast, which is the last stronghold of the U.S. supported autonomous Kurdish led administration. The Kurdish-led group suffered a major setback when they took control of Deir al-Zor’s main oil and gas fields east of Euphrates, a vital source of income. Last week, Syrian President Ahmed al-Sharaa stated that it was inacceptable for a armed group (Syrian Democratic Forces), to control one quarter of the nation and its primary oil and commodity resources. Officials said that U.S.
Security sources claim that Syrian forces have seized major oil and gas fields in eastern Syria
Officials and security sources reported on Sunday that Syrian troops fighting U.S. Kurdish-led force seized the largest oil field in Syria, the Omar, as well as the Conoco gas fields in eastern Deir 'Zor province, while allied Arab tribes advanced into the oil-rich region along the border with Iraq. The group suffered a major setback when they took over the oil fields east of the Euphrates, a source of income for the 'Kurdish led forces.' Officials said that the takeover had deprived the state resources which the militia used. The Syrian army has pressed on despite U.S.
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after Meg O'Neill's unexpected departure for the top position at?BP. This comes at a time when the Australian company is trying to deliver on key projects in a?braced?for a glut of supply. Analysts say that the oil and gas company will continue to pursue its global growth strategy. This requires continued investment in new assets as well as continuity in mature fields. After project delays and rising costs, it will be important to advance the Louisiana LNG project. The Louisiana LNG project, valued at $17.5 billion, will be Woodside's key project.
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after BP's?chief executive Meg O'Neill's unexpected departure for the top position at BP. This comes as the Australian 'firm' is trying to deliver key projects on a market that's braced for an oversupply. Analysts say that the oil and gas "producer" is expected to continue with its global strategy of growth, which requires sustained investment in both new assets and continuity within mature fields. After project delays and rising costs, it will be important to advance the Louisiana LNG project. The Louisiana LNG project, valued at $17.5 billion, will be Woodside's key project.
UK court lifts BB Energy’s injunction to allow the sale of South Sudan oil cargo
The London High Court lifted on Thursday an injunction that prevented the sale of a South Sudanese oil cargo scheduled to load within the next few days. This was after the claimant BB Energy decided to not ask to continue the injunction. BB Energy has said that it will pursue legal action against South Sudan for its alleged failure of delivering oil BB had paid $142m in prepayment agreements spanning 2024-2025. If the country does not resume deliveries and payments promptly, BB Energy will take further legal action. BB Energy representatives…
UK court lifts BB Energy’s injunction to allow the sale of South Sudan oil cargo
The London High Court lifted on Thursday an injunction that prevented the sale of a South Sudanese oil cargo scheduled to be loaded in the next few days. This was after BB Energy, the commodities trader who filed the case, decided to not ask to continue the injunction. BB Energy has said that it will continue to take legal action against South Sudan for its alleged failure in delivering oil BB had paid $142 millions to South Sudan under prepayment agreements spanning 2024-2025. BB Energy representatives refused to request an extension…
Siemens Energy finds limited synergies in onshore and off-shore wind
Siemens Energy's CEO stated on Friday that there are few synergies to be found between its onshore wind unit and its better performing offshore units. This reflects the uncertainty surrounding the future of this loss-making division. Siemens Gamesa is Siemens Energy's wind turbine division, which produces both on- and offshore turbines. The division, still recovering from the quality crisis of two years ago has posted an operating loss for the fiscal year ending in September, totaling 1.36 billion euro ($1.59 billion). Siemens Gamesa…
The Bulgarian Parliament overturns the presidential veto regarding Lukoil refinery Takeover
The Bulgarian Parliament overruled the veto of the president on Thursday on legislation that would allow the government to sell Lukoil’s oil refinery to protect the asset from impending U.S. sanctions. Last month, the U.S. Treasury Office of Foreign Assets Control, along with Britain, imposed sanctions on Lukoil, and Rosneft - Russia's largest oil companies - to increase pressure on Russian president Vladimir Putin and threaten their operations in Europe. Last week, lawmakers approved changes that would give a commercial manager appointed…
Source: Berlin wants to protect Rosneft Germany's arm from US sanctions
A person with direct knowledge about the discussions in the German government said that Germany was seeking exemptions from U.S. Sanctions on the German operations of Rosneft, the Russian oil company. This came after the banks warned they could be prevented from dealing with local energy suppliers due to the sanctions. Rosneft’s German business is owned by Russia but controlled by German authorities. It is Europe's largest economy's key oil supplier, routing the oil and refining it to fuel pumps and airports. After Russia's invasion of Ukraine in full force, the German branch of Rosneft was placed under government trusteeship.
French spot slightly higher on small variations in demand and supply
The European wholesale electricity prices were virtually unchanged on Thursday, with French levels marginally higher and Germany's remaining untraded due to slight variations in demand and supply. The market is sending mixed signals. "While wind generation is down (the overall drop in consumption) and residual load suggest (a) mildly bearish signal," said LSEG Analyst Xiulan He. He added that coal and gas capacity availability were both up. At 0800 GMT on Friday, the French baseload price was 90.3 euros (105.16 dollars) per megawatt-hour (MWh), up 1.4% compared to its previous close. The German equivalent position was untraded after settling at 104.3 Euro/MWh.
Italy's Energy Minister sets out a path to reduce gas prices
Gilberto Pichetto Fratin, the Energy Minister said that Italy was targeting gas transport costs in order to reduce domestic energy bills. Giorgia Melons, the Italian Prime Minister is being pressed to lower the price of energy for both companies and consumers who pay much higher prices than the average in Europe. Pichetto stated during a Milan conference that he wanted to "correct an anomaly". The PSV (wholesale price) for natural gas on the Italian market is usually higher than the FFT (which is traded at the Amsterdam hub), by about 2-4 euros per Megawatt Hour.
EIA reports that US Northeast imports of electricity from Canada have dropped.
The U.S. Energy Information Administration said that the decline in electricity imports into New York Independent System Operator, (NYISO), and Independent System Operator New England, (ISO-NE), was due to the drought conditions in Canada as well as lower demand for electricity in Northeastern United States. The EIA reported that imports to New York's NYISO dropped to 25% from 2022 levels between January and August 2025. The EIA report noted that the Canadian hydropower production has been restricted by the ongoing drought. Meanwhile, electricity demand in ISO-NE, NYISO and ISO-NE-NYISO decreased 9% and 6 %, respectively, from 2016 to 2024.
EUROPE GAS-Prices rise after fresh Ukraine infrastructure attacks
After initially trading in a sideways direction, Dutch and British wholesale prices of gas rose on Thursday after Russia attacked the key storage infrastructure of gas in Ukraine. This comes at a time when there is growing concern about the rapid filling of European gas storages. LSEG data shows that the benchmark Dutch front-month contract was up by 1.18 euros to 32.95 Euro per megawatt hour or $11.21 per mmBtu at 1507 GMT. The British contract for the front month rose 3.34 pence to 82.35 cents per therm. Meanwhile, the price of the day-ahead contract was up 1.70 penny at 81.90 cents per therm.
Ukraine and Poland nearly double the capacity of their gas link
The Ukrainian Energy Ministry announced on Friday that the gas transmission system operators in Poland and Ukraine would double the capacity of the interconnector from 6.4 million cubic metres of gas per day to 12.4 mcm. After Russian shelling, Ukraine wants to import large quantities of U.S. Liquefied Natural Gas via Germany, Greece and Lithuania in order to prepare for the heating season. The Polish route is the main gas import destination for Ukraine. The role of Poland's gas distribution system will continue to grow as it provides access worldwide to natural gas sources, including liquefied gases.
The power demand forecasts are lower than expected on Mondays
German and French spot rates were not traded on Friday morning, but the demand for wind power is expected to be reduced due to the dual holidays. LSEG data shows that the German and French Monday basisload power contracts had not been traded by 847 GMT. LSEG analyst Florine Engl stated that residual load in Germany should decrease on Monday compared to last Friday. However, it will increase on Tuesday. LSEG data indicated that German wind output would fall by 12.2 GW Monday to 19.7 GW. French wind production was also expected to drop by 5.5 GW down to 1.9 GW.
Norway's oil-drilling unions are seeking wage mediation in order to avoid a strike
Employers and three unions reported that wage talks with 7,500 oil drilling employees in Norway failed on Wednesday. This could lead to a strike later this year. The Norwegian Shipowners' Association's (NSA) talks with the Safe, Styrke, and DSO unions are to resume at a future date, which is yet to be determined, under the mediation of a state appointed mediator. Geir Sjoeberg, the NSA's lead negotiator, said in a press release that "unfortunately" it wasn't possible to reach an accord. In Norway's highly regulated system of collective bargaining, workers can only go on strike when the mediation fails.
Germany and France have different spot prices
German wholesale electricity prices fell on Friday due to a strong wind in Germany, while they rose in France, though only from a level that was just half of the price in the larger market next door. Riccardo Paraviero, LSEG analyst, said that the signal for tomorrow was bearish. He added that consumption in the region had decreased. French baseload was up by 25.9% to 35.3 euros ($38.87), a megawatt-hour (MWh) as of 0745 GMT, while German baseload was not traded with a price of 61.5 euro/MWh. This was compared to the previous close which was 82.9 euros.
US to develop AI on Energy Department Lands
On Thursday, the administration of Donald Trump announced that it had identified 16 sites in the U.S. Department of Energy where data centers and energy plants to support artificial intelligence could be built. The rapid growth of AI has led to a boom in the demand for power in the United States, which is unprecedented in 20 years. Big Tech companies and utilities are scrambling to build data centers and new power plants. The DOE stated that the potential sites were positioned to allow rapid construction of data centers, with in-place infrastructure and the ability for fast-tracking permits for new energy production such as nuclear reactors.