Saturday, April 26, 2025

Energy Production News

Spot prices are affected by lower demand and more solar.

The drop in demand for power and the increase in solar power in Germany pushed spot prices down on Thursday. These changes also overshadowed a predicted drop in wind energy supply on Friday. German baseload electricity for Friday fell 7.5% to 92 euros (104.65 dollars) per megawatt-hour (MWh) at 0826 GMT. The French equivalent contract dropped 1.3%, to 74 Euro/MWh.

EQT will spend less and produce more US natgas by 2025

EQT Energy, the second largest natural gas producer in the United States, will reduce its capital expenditure but increase energy production by 2025. Range Resources, on their part, said they would keep both output and spending relatively constant from 2024. Companies released their first quarter earnings reports and spending plans on Tuesday. The U.S. Gas Prices are forecast to increase in 2025.

Trump's order to stop NY wind project shocks offshore industry and threatens other projects

The Trump administration’s decision late Wednesday to halt the construction of Equinor’s Empire Wind 1 off the coasts of New York sent shockwaves throughout the offshore wind industry. It raised concerns that fully permitted developments worth billions of dollars are not secure. Donald Trump, the U.S. president, had promised during his campaign to put an end to offshore wind energy.

Trump's order to stop NY wind project shocks offshore industry and threatens other projects

The Trump administration's late Wednesday decision to stop construction of Equinor’s Empire Wind 1 off the coasts of New York sent shockwaves throughout the offshore wind industry. It raised concerns that developments with full permits, representing billions of dollars in investment, aren't secure. Donald Trump, the U.S. president, had promised during his campaign to put an end to offshore wind energy.

Gas prices in Europe are rising on the back of lower renewable energy forecasts

The Dutch and British wholesale gas price increased on Thursday morning, as temperatures and renewables are expected to drop at the weekend and the quieter trade before Easter. LSEG data show that the benchmark Dutch front-month contract rose by 0.24 euros to 35.66 euro per megawatt hour. The June contract increased by 0.26 euros to 35.86 euro/MWh.

French prompts higher as demand increases and wind output drops

The French spot electricity price for Thursday increased on Wednesday, as the wind power supply is expected to decline and the domestic demand to increase. The price of French baseload electricity for Thursday TRFRBD1 rose 36.4% to 65.50 Euros ($74.50 per megawatt-hour) at 0749 GMT. On Tuesday, the equivalent German contract that had not yet traded on Wednesday closed at 89.25 Euros/MWh, up 39.2%.

Four Republican US senators back Biden-era energy tax credits

According to a Thursday circulated letter, four Republican senators have asked Congressional leadership to maintain energy tax credits that were included in the Biden era Inflation Reduction Act. In a letter dated April 9, the four senators wrote to Senate Majority leader John Thune that the repeal of tax credits would harm investment, businesses and jobs.

Oil advocate withdraws nomination for US Land Bureau

Senator Mike Lee announced at a Senate Hearing on Thursday that oil industry lobbyist Kathleen Sgamma had withdrawn her nomination for the U.S. Bureau of Land Management. Sgamma was scheduled to appear before the Senate Committee on Energy and Natural Resources on Thursday morning to discuss her nomination. Lee announced the news at the beginning of the hearing.

Eni CEO: Eni will invest 26 billion dollars in North Africa within the next four years.

Claudio Descalzi, CEO of Italian energy company Eni, said Tuesday that the group will invest approximately 24 billion euros ($26.24billion) in Algeria Libya and Egypt during the next four-year period to boost energy production. The investments will coincide with Rome's efforts to revive its economic and political relations with Africa, as part of the so-called Mattei Plan.

Bolivians tighten their belts after a new reality of inflation bites

Angelica Zapata, a Bolivian homemaker in La Paz's highland, is learning to accept a new reality of inflation. Prices are rising at their fastest rate in nearly two decades due to the shortages in fuel and dollars. Landlocked gas and grain producers are facing their most severe economic crisis since the global financial crises.

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.

Spot prices rise on forecasts of reduced wind supply

The price of European immediate power rose on Wednesday, as the wind power generation in the region is expected to drop sharply. This will lead to a tightening of supply. LSEG analyst Guomarie Wyller forecasts a halving in Germany's wind energy production. She also noted that the higher German solar output will counterbalance this bullish factor.

The prize is worth billions of dollars, but winning it is the key: Russell

Decarbonising steel is one of the biggest challenges to meeting climate goals. However, it could be extremely profitable for those companies and governments willing to take on the risk. Steel value chain is responsible for 7 to 9% global carbon emissions. It is the biggest industrial contributor, and therefore a primary target for many countries' and companies' goals for net-zero in 2050.

German contract not traded

French spot prices rose Tuesday for the Wednesday session, and forecasts indicated a mixed output of renewables in Germany. LSEG data shows that the French baseload rate for the day was 93.5 euros ($100.97 per megawatt-hour) at 0958 GMT. This is a 2.8% increase. The data revealed that German day-ahead electricity had not yet begun trading at the time, despite closing on Monday at 108.75 Euros/MWh.

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…

Ecopetrol executive: We are looking to expand our in-house energy production to include wind power.

Ecopetrol, Colombia's state energy company, is looking at new investments, including purchasing projects run by multinationals to meet its own energy needs. A company vice president revealed this on Wednesday. Julian Lemos is Ecopetrol's vice president of strategy and new business. He said that the plan would look to integrate…

Trump hosts top US oil executives as trade wars threaten

Donald Trump, the U.S. president, will be hosting top oil executives in the White House this Wednesday to discuss plans for boosting domestic energy production amid falling crude prices and trade wars. This will be Trump's first meeting with oil and gas executives since he returned to the White House in January for his second term.

Due to Germany's increased solar output and weak demand, the price is slightly lower.

The European spot price for electricity was slightly lower on Friday as the main market Germany experienced higher solar intensity, a weaker demand and decreased gas-burning supply. This overrode anticipated gains in France. Guromarie Wyller of LSEG, an analyst, said that the fundamental situation in Germany will loosen slightly tomorrow due to increased solar power output and decreased demand.

Tata Power, India's Tata Energy unit, is exploring a $5.6 billion investment in clean energy in Andhra Pradesh

Tata Power Renewables Energy Ltd. (TPREL), an Indian company, said it was exploring the possibility of setting up seven gigawatts of green energy in Andhra Pradesh's southern state for a total investment of 490 billion Indian Rupees ($5.63billion). TPREL is a Tata Power unit that looks at clean energy projects, including solar, hybrid and wind, with or without storing solutions.

Ukraine's gas imports are still low despite Russian attacks on gas production

The operator of the state-run transmission system for gas reported that despite the massive Russian missile strike on Ukrainian gas production over night, Ukrainian gas imports remained relatively low on Friday. Naftogaz, the Ukrainian state gas company, said that Russian forces have targeted Ukraine's infrastructure for energy production and damaged its natural gas production facilities.

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