Nigeria’s Refining Revolution is Reshaping West Africa’s Energy Landscape
The launch of the Dangote Refinery near the Port of Lagos presents an exciting opportunity to transform the energy and shipping markets in West Africa. And it stands to boost Nigeria’s role as an influential player in the global oil industry, fostering economic growth and regional development.Nigeria’s standing in the global energy landscape is getting a boost with domestic refining capacity expanding in 2025. The Dangote Refinery near Lagos presents a…
The benchmark Dutch gas price has fallen on EU's Ukraine gas transport push
Dutch wholesale gas fell below 40 euro ($43.31), for the first time in this year, after news broke that European leaders were set to ask EU authorities and Kyiv intensify their talks to resolve an end to Russian gas transiting through Ukraine. By 1606 GMT, the benchmark front-month contract for the Dutch TTF hub had fallen by 2.15 euros to 38.85 euros/MWh, or $12.26/mmBtu. LSEG data show that the contract reached 38.48 Euros in early trade, its lowest since November 2024. The contract for May fell by 3.24 euros, to 38.62 Euro/MWh.
Report says India's renewable sector is hit by low demand and cancellations
The Institute for Energy Economics and Financial Analysis reported on Thursday that India's renewable sector faces a number of obstacles, including a weak demand for bids, delays in power agreements and cancellations of projects. IEEFA reported that the country issued a record number of 73 gigawatts for utility-scale renewable energies tenders in 2024. However, about 8.5 GW were undersubscribed, five times more than in 2023, due to lower demand caused by complex tender structures and delays with interstate transmission readiness.
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S. will consume approximately 90.2 billion cubic foot per day (bcfd), and export another 21.1 bcfd as LNG or via pipelines in 2024 to Mexico, Canada and other countries. The majority of U.S.
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S. will consume approximately 90.2 billion cubic foot per day (bcfd), and export another 21.1 bcfd as LNG or via pipelines in 2024 to Mexico, Canada and other countries. The majority of U.S.
EUROPE GAS-Prices rise amid Ukraine concerns, strong demand
Dutch and British wholesale prices for gas rose Monday morning, as market demand and concerns about a possible peace agreement with Ukraine supported the market. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 2,19 euros, or 14,19/mmBtu at 46,50 euros per Megawatt Hour (MWh), by 0914 GMT. The Dutch May contract increased by 2.15 euros to 46.80 Euros/MWh. The day-ahead contract in the British market was up 3.80 pennies at 111.30 pence per therm. After a clash between U.S.
Woodside Energy's profit for the year is at its lowest level in three years due to low oil and gas prices
Woodside Energy, a major oil and gas company, reported on Tuesday its lowest annual profit in the last three years, due to lower realized prices. However, it maintained its production forecast for 2025, based on expectations that demand for liquefied gas will be strong. The energy markets were affected by geopolitical events that occurred in the past year. Slowing global growth, and a softening of demand from China's top consumer also pushed down commodity prices. Woodside's average realized price for its products is $63.60 per bar of oil equivalent.
Palm oil falls on Dalian crude oil, weakening it
Malaysian palm futures dropped on Thursday, ending a five session rally. Pressured by lower Dalian oil and lower crude oil prices, sparked by the talks to end Ukraine-Russia's war, they were pushed down by weaker Dalian oil. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 63 ringgit or 1.36% to 4,558 Ringgit ($1,023.35) per metric ton. Anilkumar bagani, head of commodity research at Mumbai's Sunvin Group, said that crude palm oil futures fell following a selloff on energy markets, after U.S.
Origin Energy's profit exceeds expectations on the back of strong LNG earnings
Origin Energy, an Australian power company, beat analysts' expectations on Thursday. This was due to higher LNG sales and gains from LNG trading. These factors offset a sharp drop at the energy markets division. Origin Energy, along with AGL Energy and Energy Australia as one of Australia's "Big Three" retailers of electricity, will spend A$1.5 billion to A$1.7 billion between fiscal 2025 and the majority of that money will go towards building storage batteries.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a 2-year high of €58 per megawatt-hour (MWh).
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a 2-year high of €58 per megawatt-hour (MWh).
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a two year high of 58 euro per megawatt-hour (MWh).
Macquarie, Australia's Macquarie Bank, has'very little exposure' in Trump's war on green energy
Macquarie Group, the top Australian investment bank, downplayed on Tuesday its exposure to U.S. green power sector that has been disrupted by executive orders issued by President Donald Trump. It posted a flat profit for the third quarter. The bank that makes a third its profit in Americas said it has reviewed its U.S. investments and found minimal exposure since Trump signed executive orders banning or freezing government benefits for sustainable energies. Macquarie's CEO Shemara Wikamanayake said on a conference call with analysts that the U.S.
IEA: Global gas markets will remain tight due to rising demand
LONDON (Jan. 21) - The global natural gas market will remain tight in 2019 as the demand for gas increases and production grows slower than it did before the energy crises of 2022 and 2020-2021. This was revealed by a report released on Tuesday by the International Energy Agency. Political factors have exacerbated the volatility of gas prices, including the uncertainty surrounding the energy policy of U.S. president Donald Trump and possible disruptions of Middle Eastern supply.
Prices lower in Europe due to softer demand and higher renewables
Dutch and British wholesale prices of gas fell on Thursday, amid forecasts for higher wind and solar production and a softer demand. However, prices may be affected by changes in energy policy as Donald Trump assumes the U.S. presidency next week. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub dropped by 0.80 euros to 46.20 Euro per Megawatt Hour (MWh) or $13.94 per mmBtu by 0933 GMT. The Dutch day-ahead contracts was lower by 0.88 euros at 46.40 Euro/MWh.
As demand falls and supply increases, prompt prices will fall.
The European spot electricity prices dropped on Wednesday, as the demand for power in Europe declined while wind and nuclear power increased. LSEG data revealed that French consumption would fall as temperatures rise in a country which relies heavily on electric heating during winter. By 1100 GMT, the French baseload for Thursday had fallen 8.3% to 141.30 Euros ($145.62). In Germany, baseload for Friday was down almost 33% at 154.50 Euros. LSEG data indicated that the German wind power output would remain at around 11 gigawatts on both days.
Russia warns that new US energy sanctions could destabilise the global market
The Kremlin announced on Monday that it would take all possible measures to minimize the impact of the latest U.S. sanctions against the Russian energy industry. Dmitry Peskov, Kremlin spokesperson, said: "It's clear that the United States is going to continue to attempt to undermine our companies through non-competitive means. "At exactly the same time, these decisions will undoubtedly lead to an overall destabilisation of oil and energy markets internationally."…
Shell's LNG strategy is a 'disconnect,' according to Shell shareholders' climate resolution
Shell's plans for increasing sales of LNG have been questioned by a major shareholder group that filed a motion asking if the strategy was compatible with a goal of cutting carbon emissions. Shell is the largest LNG trader in the world. CEO Wael sawan bets on the growing demand. Analysts and climate activists are concerned about the implications of this for climate targets. Shell shareholders, including Brunel Pension Partnership and Greater Manchester…
Prices of EUROPE Gases drop on forecast for warm weather
Dutch and British wholesale prices of gas were lower on Monday due to a forecast for warmer weather and the market ignoring the geopolitical developments that have taken place in Syria. By 0948 GMT, the benchmark front-month contract for the Dutch TTF hub had fallen 0.81 euros to 45.56 Euro per Megawatt Hour (MWh), which is $14.38/mmbtu. The day-ahead contract in Britain fell by 1.4 cents to 113.5 pence per therm. On Sunday, Syrian rebels announced that they had overthrown President al-Assad. They ended a 50 year family dynasty with a lightning-fast offensive.
Greece announces new round of subsidies on household electricity bills
Greece announced on Friday a new round in subsidizing electricity bills to assist households struggling with the rising costs of electricity in December. Greece spent almost 10 billion euros ($10.58billion) on power bill subsidies to households and businesses between 2021 and 23. This is the largest amount of subsidies that an EU country had ever paid as a percentage of its GDP. In November, wholesale power prices in Europe reached their highest level in more than a year.
