Japan Gas Lobby urges stronger diplomatic efforts to drop LNG Destination Clauses
The head of Japan Gas Association urged on Friday the government to intensify diplomatic efforts in order to eliminate destination clauses from long-term contracts for liquefied gas. This would allow the government more flexibility in reselling LNG in response to changing demand. The Japan's Industry…
Hungary: US exemption of gas payments from Russia Gazprombank sanctioned
In a video on social media, Hungarian Minister of Foreign Affairs Peter Szijjarto stated that the United States had granted exemptions for gas payments from the sanctions they imposed against Russia's Gazprombank. The U.S. implemented sanctions against Gazprombank in November, creating a barrier for European gas buyers.
Spain's demand for electricity is increasing as renewables set records
According to Red Electrica's estimates, the amount of electricity consumed in Spain increased this year, after two years of decline. A record 56% came from renewable sources, such as solar and wind. The Spanish renewable energy industry has warned about the dangers of future investment in this sector due to the lack of demand for electricity.
Indonesia's plans for renewable energy may endanger forests
Indonesia, which is heavily dependent on coal for electricity, needs to move away from fossil fuels. It aims to generate 75 gigawatts from renewable sources over the next fifteen years. This compares with the 13 gigawatts it produces today. This push will be based on the use of biofuels that burn cleaner, i.e. organic material converted into liquid fuel.
Colombia's Ecopetrol signs agreement with Parex Resources for oil and gas development
Ecopetrol, Colombia's largest state-owned energy firm, announced on Wednesday that it had signed five agreements to enhance the production of oil and natural gas in the Andean nation. The first four agreements will involve an investment of $350 million. These projects are planned in Colombia's Putumayo Province and Narino Province.
EIA: US natgas production will decline in 2024 as demand reaches record levels, EIA reports
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook, released on Tuesday, predicted that U.S. Natural Gas production would decline by 2024 and demand would rise to a new record. EIA predicted that dry gas production would decline from a record 103,8 billion cubic feet per a day in 2023 down to 103.2 bcfd by 2024 due to fewer drilling activities.
Russia's Oil Tsar: Trump's actions to defend US Producers are 'fitting.'
Igor Sechin is the president of Rosneft - Russia's biggest oil producer. He said on Saturday that he agreed with Donald Trump's plans to protect domestic energy producers. He said at a Qatar conference that Trump's election campaign promises included "fitting" measures to protect domestic energy producers, the market, and other economic factors.
Indonesia talks nuclear technology with US and Russia
A deputy minister of the Indonesian government said on Friday that Indonesia has been in discussions with the United States about developing nuclear power plants. Vivi Yulaswati is a deputy minister in the Ministry of National Development Planning. She said that Southeast Asia's largest economy will be looking to operate nuclear power plants by 2036…
A survey shows that big steelmakers are not switching to renewable energy sources.
A survey of 18 major firms revealed that the world's largest steelmakers are falling further behind in their shift to low-carbon production. Some still rely on fossil fuels as their primary source of energy. The steel industry is responsible for around 7% of the global CO2 emissions. This is about the same as India.
Adani allegations bring India's clean-energy conundrum to the forefront
The allegations of bribery against Adani Group's founder Gautam Adani highlight the increasing difficulty that India's renewable energy developers have in finding buyers for their power. Officials say that while India's central governments wants to move away from coal-fired power generation and towards renewable energy sources…
ADNOC, the state oil company of UAE, has established an international investment arm XRG
ADNOC, the state-owned oil company of the United Arab Emirates, announced on Wednesday that it had launched XRG. This investment firm focuses on low-carbon energy sources and chemicals. It is valued at over $80 billion. When it starts operating in 2025's first quarter, the company will focus initially on "transformational global investments".
Mexican oil service companies ask Pemex for debt repayment
A letter published on Monday shows that the association representing the interests of some the most important oil services providers in Mexico has asked the state company Pemex for payment of overdue bills totaling 103.6 trillion pesos (about $5 billion). The Mexican Association of Oil Service Companies…
ArcelorMittal delays planned green investments for EU
ArcelorMittal is the second largest steelmaker in the world. It announced on Friday that it was delaying green investments due to uncertainty over European Union regulations. ArcelorMittal received 850 million Euros ($885 million) from the French Government in January to support its 1.7 billion Euro…
Officials say that South Africa has a significant reworking of its long-term energy plan.
Officials said that a reworked long-term South Africa power plan would be soon presented to the cabinet. The plan is designed to put an end to the electricity blackouts which have plagued the country over the past decade. Only in January was the last plan released, which laid out scenarios for power supply up to 2050.
Chris Wright, CEO of the oil industry, is appointed Energy Secretary by Trump
Donald Trump, the President-elect, announced on Saturday that Chris Wright, an oil and gas executive who is a staunch supporter of fossil fuels, will be his choice to lead the Department of Energy. Wright is the founder of Liberty Energy in Denver, a firm that provides oilfield services. He will likely…
Germany prohibits oil companies from using previous emission credits to support the biofuel industry
German cabinet approved Wednesday reforms that will prevent oil companies from transferring excess credits for emissions reductions. This is a move to boost the biofuels industry, which has been hit hard by the rapid drop in carbon prices over recent years. According to the current law, oil companies are required to reduce their carbon footprint of their fuels gradually…
Biden officials ask EU methane regulations to be aligned with US rules to ease LNG flow, says letter
According to a letter obtained by the, President Joe Biden’s administration asked that the European Union ensure that liquefied gas imports meeting U.S. regulations for methane automatically meet Europe’s standards. The linking of U.S. methane and EU standards will protect the United States' LNG trade with Europe…
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-year period, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother, and Indonesia’s envoy at the United Nations Climate Change Conference 2024 in Baku, Azerbaijan.
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies implemented by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association…
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies proposed by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association…
