Japan signs first LNG supply agreement with Malaysian Petronas
The Japan industry ministry announced on Friday that the country had signed a deal with Malaysia's Petronas to procure liquefied gas for an emergency. The master sales and purchasing agreement will allow Petronas LNG to be delivered to the Japan Organization for Metals and Energy Security.
Data centers are being built in Argentina's Patagonia, a region characterized by its windswept landscape.
Investors looking for mega data centers are increasingly interested in Argentina's Patagonia. They're attracted by its cool temperatures, renewable energies, shale-gas and vast stretches of empty land. While tech giants, known as hyperscalers, race around the world to?build servers farms and face roadblocks due to anti-data center campaigns…
Chesapeake Utilities Sells Stake in Florida Natural Gas Project
Chesapeake Utilities said on Tuesday its unit has sold a 49% stake in a $1.2 billion South Florida natural gas transmission infrastructure project to NextEra Energy Resources.The project, called Florida Energy Pathway, is designed to expand natural gas transportation capacity and address regional supply constraints, Chesapeake said.Here are more de
Venezuela 'back on agenda' for oil equipment supplier SBO, CEO says
SBO's chief executive stated on Thursday that Venezuela was "back on the agenda" after receiving an order to deploy the company's?precision?technology in South America. Venezuela has signed contracts for a number of oil and gas projects. Large foreign companies like Shell have taken…
NextEra Energy beats second-quarter profit estimates
NextEra Energy beat Wall Street expectations for the second quarter adjusted profit on Friday. This was due to increased demand and strength in its renewables unit. Energy Information Administration (EIA) expects U.S. electricity demand to continue to increase in 2026-2027, after hitting its second consecutive annual record last year.
After years of stagnation, New Zealand's interest in gas exploration is picking up.
Seven oil and gas companies are racing to secure offshore rights to explore in New Zealand before a national vote that could lead to the ban of new permits. The country's main parties are fighting over the need for gas. New Zealand attracted interest after its conservative government lifted a ban last year on new offshore drilling imposed by 2018.
Eni and Petronas establish joint gas venture in Southeast Asia
After signing an agreement for investment in November, Eni of Italy and Petronas of Malaysia have created a joint venture that combines energy businesses throughout Indonesia and Malaysia. This move is part Eni's "satellite strategy" to separate specific assets and develop them independently with the assistance of a partner.
Hungary's PM claims he could meet Zelenskiy by June if talks on minority rights are successful
He said that if an agreement is reached on the?Hungarian?minority's rights, Magyar would be able to meet Volodymyr Zelenskiy, Ukrainian President, in June. Magyar struck a positive tone on this issue, which is crucial for Kyiv’s EU aspirations. Magyar made the remarks during a trip to Poland…
Document says EU Energy Ministers will discuss domestic gas drilling
An internal document obtained by revealed that the energy ministers of European Union countries will discuss the production of domestic?gas? next week as they seek to reduce the economic impact of Iran's war. After the Middle East conflict, which has caused unprecedented disruptions, the EU is heavily dependent on imports of gas.
NextEra tops profit estimates on strong power demand, renewables growth
NextEra Energy surpassed Wall Street's?estimates of first-quarter adjusted profits?on Thursday. This was due to strong electricity demand, growth in its renewables business and the?storage division. In premarket trading, shares of the?company? rose by 1.4%. The rising demand for electricity in the United States…
The Russian government has announced that the ban on gasoline imports will be implemented from April 1.
The Russian government reported that Alexander Novak, the Deputy Prime Minister of Russia, had instructed his energy ministry on Friday to draft a resolution banning gasoline exports as of April 1, 2019. The state-run TASS reported earlier that the ban will remain in effect until July 31.
CERAWeek, the energy conference in Houston, returns as Iran's conflict shakes global energy markets
Next week, the world's top energy executives? will return to Houston as the escalating U.S. - Israeli war on Iran has turned into a nightmare for global energy markets. Unprecedented attacks?on infrastructure? and shipping disruptions have sent oil prices soaring as governments struggle to combat inflation and avoid recessions.
India's small-scale steelmakers are facing production cuts due to LNG shortages caused by the Iran war
Industry officials say that a number of small 'Indian steel' producers have warned of production cuts due to the Middle East conflict, which is disrupting gas supplies for the world’s second largest producer of the alloy behind China. Triveni Iron and Steel Industries, based in Gujarat…
Turkey declares Greece-Chevron activities off Crete illegal
The Turkish government said that it was opposed to Greece's unilateral?activities? in the energy fields south-west of Crete, with a consortium headed by?U.S. Chevron, a major oil company, as a violation of international law and good neighbourly relations. Athens responded that its policies adhere to international law.
Devon and Coterra merge in $58 billion deal to create U.S. Shale giant
Devon Energy and Coterra Energy decided on Monday to merge as part of a $58 billion all-stock transaction, creating a large-cap company with the top spot in the Permian Basin. The shale industry is consolidating to reduce costs and increase'scale. The largest deal in the sector, since…
NextEra eyes nuclear power expansion as data center pipeline grows
NextEra Energy may expand its nuclear fleet in order to provide electricity for?data centres. The giant U.S. energy provider said on Tuesday that they are 'in advanced discussions' to power 9 more gigawatts to the server warehouses. Big Tech's massive data centers have pushed up the demand for electricity in the United States…
US oil companies juggle Venezuelan opportunity and investor concerns ahead of White House Summit
U.S. Oil executives will weigh the business potential of Venezuela and the enthusiasm expressed by President Donald Trump against the cautious attitude expressed by their investors when they are summoned to meet at the White House this Friday to discuss possible investment plans.
Virginia data centers to replace coal where coal once reigned
Entrepreneurs are now looking at the rural area with the ambitious vision to rebuild its economic by converting the old mines into data centers and solar power systems that could help feed the growing power demand of the artificial-intelligence boom. A non-profit group called Energy DELTA Lab (Discovery…
Wood Mackenzie warns that China's curtailment of renewable energy will present revenue risks over the next decade.
Wood Mackenzie, a consultancy, said that if renewable energy is curtailed to balance China's grid during times of low or high demand it will pose a risk to investor revenues over the next decade. Wood Mackenzie predicts that solar curtailment rates will average over 5% in 21 provinces within the next decade.
NextEra beats quarterly profit estimates on renewables strength, robust power demand
NextEra Energy surpassed Wall Street expectations for its third-quarter adjusted profits on Tuesday. This was due to the strength of its renewables unit, as well as increased demand from data centres fueling artificial intelligence's boom. According to the U.S. Energy Information Administration…