Asian countries are looking to purchase more US energy in order to balance trade imbalance
As they try to reduce their trade surpluses with Washington, Asian governments are buying more U.S. gas and oil in order to ease their tariff burdens due to President Donald Trump’s new import duties. Many Asian countries have large trade surpluses and also are major energy importers. Trump's tariffs have caused economic and market turmoil. Here are some measures Asian countries will take to increase their purchases of U.S. gas and oil. Energy Minister Bahlil lahadalia said to…
Asian countries are looking to purchase more US energy in order to balance trade imbalance
As they try to reduce their trade surpluses with Washington, Asian governments are buying more U.S. gas and oil in order to ease their tariff burdens due to President Donald Trump’s new import duties. Many Asian countries have large trade surpluses and also are major energy importers. Trump's tariffs have shook markets and economies. Here are some measures Asian countries will take to increase their purchases of U.S. gas and oil. Energy Minister Bahlil lahadalia said to local…
Indonesia awarded five oil and gas blocks as it seeks energy security
Indonesia has awarded five oil blocks and gas blocks to various companies, the energy ministry announced on Wednesday. The country is trying to increase its oil reserves and energy security. In the next few years, the government will offer more than 60 oil and natural gas blocks in an effort to reverse the decade-long decline of production. In an online broadcast of Wednesday's awards, Tri Winarno said that the government hoped these auction winners would be able contribute to Indonesian energy security in the future.
Tariff talks: Indonesia proposes an increase of $10 billion in US energy imports
Energy Minister Bahlil Lahadalia said to local media that Indonesia would propose an increase of around $10 billion in its crude oil and liquefied gas imports from the United States as part of its ongoing tariff negotiations. Indonesian officials will be leaving for Washington, D.C. later Tuesday to negotiate proposed U.S. tariffs. Indonesia will buy goods from the U.S. worth between $18 and $19 billion in order to reduce its trade surplus, as well as to avoid a 32% tariff threat on its exports. Bahlil stated that the energy ministry recommends increasing the LPG export quota to the U.S.
Tariff talks: Indonesia proposes an increase of $10 billion in US energy imports
Energy Minister Bahlil Lahadalia said to local media that Indonesia would propose an increase of around $10 billion in its crude oil and liquefied gas imports from the United States as part of its ongoing tariff negotiations. Indonesian officials will be leaving for Washington, D.C. later Tuesday to negotiate proposed U.S. tariffs. Indonesia will buy goods from the U.S. worth between $18 and $19 billion in order to reduce its trade surplus, as well as to avoid a 32% tariff threat on its exports. Bahlil stated that the energy ministry recommends increasing the LPG export quota to the U.S.
OPEC+ will discuss Kazakhstan's output at the Thursday meeting, sources claim
Two delegates said that eight OPEC+ nations meeting on Thursday, will focus on convincing Kazakhstan to stop exceeding their output quota as well as its plans to compensate overproduction while the group increases gradual production. Sources have said that the record Kazakh production has angered other members of OPEC+, including Saudi Arabia. OPEC+ has urged the Central Asian nation, as well as other members of the group, to cut further to compensate for excessive production.
The drilling of the offshore gas project in Romanian Black Sea has begun.
On Tuesday, the owners of Romania's Neptun Deep offshore project announced that drilling had begun in the Black Sea. This could lead to the production of one the EU's biggest gas deposits in 2027, which would ease the transition from Russian gas. Neptun Deep is jointly owned by the oil and gas company OMV Petrom, and Romania's Romgaz. It holds approximately 100 billion cubic metres of recoverable gas. OMV Petrom, a majority-owned company of Austria's OMV, is the largest shareholder in Neptun Deep.
The EU Commission has told Spain that it will not pay in a long-running case of renewable subsidies
The European Commission gave Spain a win on Monday when it told the country that they would not be paying any compensation for claims in the billions of Euros for renewable energy subsidies cut over a decade earlier. After the conservative government of Spain cut renewables subsidies to reduce an artificially low power tariff deficit that had been built up over years, foreign investors, mainly investment funds, filed a lawsuit against Spain. In 2018, French infrastructure-focused…
Sources: Turkey and Slovakia receive US waiver extensions for gas payments to Russia
Sources told reporters on Thursday that the United States has extended waivers to Turkey and Slovakia for gas payments made to Russia. The extensions will be valid until the end of May. Washington imposed sanctions on Russia's Gazprombank in November over the Ukraine conflict. Gazprombank is one of Russia's largest banks and receives payments from Gazprom customers in Europe for natural gas. The United States granted a waiver to Turkey, Hungary, and Slovakia in December. This removed a major obstacle for them to pay for the Russian gas they receive via the TurkStream pipeline.
Cuba is on track to install fifty solar parks by the end of this year, according to the Ministry
The Energy Ministry announced late Wednesday that Cuba was making progress with a China-backed project to install over 50 solar parks in this year, capable of producing more than 1,000 Megawatts. This comes just days after Cuba's outdated grid collapsed, leaving millions without power. Energy officials released the most detailed report on the progress of the plan, stating that two solar parks were completed in February, one in Havana, and another in Cienfuegos, and six more by the end March.
Kazakhstan fires its energy minister amid tensions between OPEC+ and oil majors
The country's president announced on Tuesday that Kazakhstan's Energy Minister will step down as a minister. This comes amid the government's struggle to convince U.S. companies and European oil firms to reduce production levels above OPEC+ targets. In a Tuesday decree, the president's office announced that Almasadam Sakaliyev would become the new head of the newly-created atomic agency. Uncertainty remains about who will replace Satkaliyev at the Energy Ministry. Satkaliyev has been the minister since April 2023.
US loans TotalEnergies almost $5 billion for Mozambique's gas project. FT reports
Financial Times reported that the Trump administration released nearly $5 billion to fund a project in Mozambique by France's TotalEnergies for liquefied gas (LNG). Estevao Palae, Mozambique’s Minister for Energy, told Financial Times that the U.S. Export-Import Bank has reapproved a loan of $4.7 billion for the project. Before lifting the force majeure that has been in effect since 2021, you must obtain re-approvals for loans from the United States and UK export credit agencies, as well as the Dutch Export Credit Agency.
Kazakhstan will quickly adjust to OPEC+ quota
The Energy Ministry announced on Wednesday that Kazakhstan would quickly adjust its output to bring it back into line with the OPEC+ quota, after exceeding its limit in February. OPEC had said that Kazakhstan contributed the most to a significant increase in crude production by OPEC+ for February. In February, Kazakhstan produced 1.767 millions barrels of crude oil per day. This is up from 1.570 in January. Its OPEC+ quota amounts to 1.468 millions bpd. "The Republic of Kazakhstan took the necessary steps to compensate for the temporary rise in production.
Indonesia introduces new rules allowing exports of minerals in cases of force majeure
The Indonesian Government has published a regulation that allows mineral companies to export ore unprocessed in situations of force majeure, said the Energy Ministry on Thursday. Indonesia has banned the export of raw minerals by 2023 in order to encourage metals to be processed at home. However, there are some exceptions. One is for miner PT Freeport Indonesia which received a permit to export copper until repairs to its Manyar smelter were completed. Freeport asked the government to renew its export license, which expired at the end last year.
Exports of Israeli natural gas to Egypt and Jordan will increase by 13.4% in 2024
Israel's Energy Ministry said that despite Israel's conflict with the Palestinian militant group Hamas, natural gas exports from Israel to Egypt and Jordan increased by 13.4% between 2024 and 2025. Eli Cohen, Minister of Energy, said that the jump "demonstrates Israel's natural-gas industry as a strategic asset contributing to regional security and stability". Israel has committed to providing natural gas to Europe which is diversifying its energy sources away from Russia after the invasion of Ukraine. Cohen stated that his policy was to maximize Israel's natural-gas reserves.
Romanian government extends the energy price cap
Marcel Ciolacu, Romania's Prime Minister, announced on Thursday that the coalition government would extend the price cap for electricity to households and businesses up until June, and for gas, for one year. This is in order to protect consumers from recent increases in energy prices. Since November 2021, Romania caps gas and electricity bills for households, small business, hospitals, schools, and public institutions at certain monthly consumption levels, and compensates suppliers for any difference. The scheme was modified several times, and it was set to expire by the end of march.
Officials from the palm oil industry say that rising biodiesel mandate will dent Indonesian palm oil exports in 2025.
A senior industry official stated on Wednesday that Indonesian palm oil exports in 2025 are likely to fall 7.3% from the previous year to 27,35 million metric tonnes despite increased production. The world's largest producer of edible oil is increasing biodiesel production. Fadhil Hazan, the head of the Trade and Promotion Division at the Indonesian Palm Oil Association said that the country's crude oil production will likely rise to 50,000,000 metric tons by 2025, from 48,16,000,000 metric tons one year earlier.
Trinidad seeks extension of Shell's gas project for Venezuela
Sources close to the preparations have said that Trinidad and Tobago intends to ask U.S. president Donald Trump's government to extend a licence for Shell and Trinidad’s National Gas Company in order to develop a major gas project in Venezuela. Early 2023, the U.S. license for Venezuela was granted as an exception to Washington's sanction against Venezuela. The license allowed NGC and Shell move ahead with planning and preparations for the Dragon natural-gas project, off Venezuela's coastline. This project is aimed at supplying LNG to Trinidad starting around 2027.
Minister: Hungarian gas company will supply Transdniestria
Peter Szijjarto, the Hungarian foreign minister, said that a Hungarian trading company would provide natural gas to Transdniestria in Moldova after a request by Russia's energy ministry. Transdniestria residents, a tiny sliver run by pro Russian separatists on the border of Moldova and Ukraine, faced an energy crisis after the expiration of a transit agreement that allowed Russian natural gas to be shipped via Ukraine. Szijjarto said that the Russian deputy premier responsible for energy had contacted him about gas supply and that he also discussed this issue with his Moldovan colleague.
Brazil adheres to OPEC+ Cooperation letter; No output caps
The Brazilian energy ministry announced on Tuesday that the country has decided to adhere the OPEC+ declaration of cooperation. This formalizes a decision it first made in 2023. Brazil is the biggest oil producer in South America. According to the country's oil regulator, its output will reach 4.32 million barrels equivalent per day by 2024. The group will include nations like Saudi Arabia and Russia, but it is not expected to participate in the coordinated output cap. The ministry…
