Gas and Carbon Forward Contracts are on the Rise
The European power contracts for the year ahead rose on Friday as did gas and carbon contracts. LSEG data show that the German 2025 baseload price rose by 1.1% at 1041 GMT to 91.45 Euros ($98.99) for a megawatt-hour.
The price of wind power is rising
The European power price for Thursday dropped on the forecast of increased wind generation in the region and a fall in demand. LSEG data show that the price of German baseload electricity for Thursday fell 8.4%, to 103.25 Euros ($111.36 per megawatt-hour (MWh)…
Vaar Energi Q3 operating profit beats expectations
Vaar Energi, a company listed in Oslo and majority owned by Italy's Eni, reported a higher-than-expected third-quarter operating result on Tuesday. It also forecast lower capital expenditures and production costs for 2024.
Prices for EUROPE GAS remain stable despite cooler temperatures and Middle East anxieties
The Dutch and British wholesale prices of gas rose slightly on Thursday morning, as demand increased due to the colder weather and reduced wind. However, the range remained tight as the market continued to monitor the developments in the Middle East.
Equinor, Aker BP, Vaar face rising project costs, Norway budget shows
The Norwegian government announced on Monday that Aker BP, Equinor and Vaar Energi had raised their estimates of costs for major oil and natural gas development projects in the Norwegian continental shelf. The government's…
Ithaca Energy joins Eni's North Sea Business
Ithaca Energy announced on Thursday that it had completed a deal worth 754 million pounds ($993 millions) to purchase nearly all the UK oil and natural gas assets of Eni. This was a 100% share transaction, which created…
Demand plummets as spot prices drop during German holidays
The European power prices fell on Thursday as German demand dropped during the Unity Day holidays. Friday is the next official day of work in Germany, and this day usually has a low demand because it's a day between a long weekend.
Spot prices rise due to a projected drop in wind energy supply
The European spot power price continued to rise on Tuesday. Wind power is expected to continue to decrease in the region on Wednesday. LSEG data show that German baseload power for the day ahead rose by 39.8%, to 97.50 Euros ($108.23)…
German wind power expected to fall in the next week
The spot prices for Monday's trading were not traded until early Friday morning, due to the expected fall in German wind energy supply over the coming week. LSEG data revealed that the German and French Monday Baseload Power contracts were not traded at 1014 GMT.
Shell cancels the Norway Hydrogen Project due to a lack of Demand
Shell announced on Monday that it had scrapped plans to build a low carbon hydrogen plant along Norway's westcoast due to lack of demand. This comes just days after Equinor canceled a similar project planned in Norway.
Indonesia's Medco Energi maintains production forecast for 2024
PT Medco Energi Internasioanl in Indonesia is keeping its oil and gas production guide for 2024 at 145,000-150,000 barrels per day despite the fact that output was above guidance during the first half. An executive revealed this on Monday.
Germany's spot prices are up due to lower wind supplies
On Thursday, European power prices fluctuated amid fears of a decline in German wind energy supply. Analysts at Energi Danmark said that the German power market experienced a decline by the close of the market in response…
Floating Solar: DNV Advises on Indonesian Floating Solar Photovoltaic Project
Floating solar photovoltaic (PV), initially considered a niche technology, is now the fastest-growing solar PV category, alongside ground-mounted utility-scale solar and rooftop PV. As of August 2020, more than 60 countries…
Indonesia's Pertamina Expects up to 180,000 bpd from Rokan Block when It Takes Over from Chevron
Indonesian state oil company PT Pertamina expects to produce 170,000-180,000 barrels per day (bpd) at the Rokan block when it takes over in August next year, the chief executive of Pertamina Hulu Energi, Budiman Parhusip…
Equinor's $466M Floating Wind Farm Plan Approved
Norway approved on Wednesday Equinor's 4.8 billion Norwegian crowns ($466 million) plan to build floating offshore wind turbines that will provide electricity to North Sea oil and gas platforms, the energy ministry said.The…
PGNiG Acquires Duva Field in Norway
PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to purchase additional 10% interests in the PL636 and PL636B licences in the North Sea.Following the transaction…
Indonesia Mulls Production Contract Schemes
Indonesia considers allowing for production sharing oil and gas contracts optionsIndonesia is considering letting energy companies stick with the "cost recovery" system for oil and gas production sharing contracts, the energy minister said on Monday…
DNO Swings to Q3 Loss
Independent oil firm DNO swung to a third-quarter loss amid writedowns on assets in the North Sea and northern Iraq, the Norwegian company said on Thursday.The company's third-quarter loss came in at $140.9 million from a year-ago profit of $98.7 million, the company sa
NGA in Rig Settlement Pact with Industri Energi
The Norwegian Shipowners' Association (NGA) reached an agreement with Industri Energi and SAFE in the Mid-Term Settlement for employees on mobile offshore units, drilling and catering on permanently placed facilities on the Norwegian Continental Shelf…
Var Energi Buys Exxon's Norway Assets for $4.5 Bln
ExxonMobil said on Thursday it will sell its Norwegian upstream oil and gas assets to independent exploration and production company Vår Energi for $4.5 billion as part of an ongoing large-scale global divestment plan.The deal…
