Faced with a tariff threat, Europe looks for ways to appease Trump
The European Union considers options to appease Donald Trump upon his return to the White House. It is bracing for a resumption in U.S. trade threats and tariffs, as well as a tough exchange on how to deal with China. Trump warned the 27-nation group shortly before he won the U.S. presidency that they would "pay a high price" if they did not buy enough American exports.
Orsted Addresses Swedish Baltic Sea Wind Concerns
Orsted CEO assures Sweden that the offshore wind industry has solutions that would address defense concerns. At issue: Sweden's rejection of a proposed 13 offshore wind farms in the Baltic Sea.Swedish Defense Minister Pal Jonson said on Monday that building wind farms in the Baltic Sea would pose defense risks, by making it harder to detect and shoot down missiles.
Oil hedging activity reaches record levels in October as traders take on market risks
Oil futures and option trading reached record levels during October as investors sought to hedge against the growing uncertainty caused by the ongoing war in the Middle East, and an upcoming bearish supply and demand forecast for 2025. This led to big swings in oil prices. By locking in an oil price, hedging can protect producers from market volatility and reduce their risk.
Prices of EUROPE Gas are lower as Middle East Risk Premiums recede
Dutch and British wholesale prices of gas fell on Monday, as the market reduced its Middle East premium following Israel's weekend retaliation attack against Iran and forecasts for milder weather. LSEG data shows that the benchmark front-month gas contract at Dutch TTF hub dropped by 1.25 Euros to 42.25 Euros per megawatt hour by 0915 GMT. The front-month contract in the British market fell 2.75 pence, to 107.25 p/therm.
Spot prices fall on German wind supply surging
The European power prices fell dramatically on Thursday as wind and solar energy supplies were seen to be increasing in the entire region. German wind production is expected to be nearly six times higher than what was expected on Wednesday. German baseload electricity for Thursday dropped 46.8% to 68.75 Euros ($76.01 per megawatt-hour (MWh) at 0840 GMT. The French power price for the day ahead fell by 20.8%, to 82 Euro/MWh.
Britain to Receive Rare LNG Cargo from Australia
Britain is set to receive a rare shipment of liquefied natural gas (LNG) from Australia later this month, as countries across Europe strive to secure enough supplies ahead of winter.European nations are seeking to diversify energy supplies following Russia's invasion of Ukraine and a sharp drop in Russian gas flows to the continent.LNG tanker Attalos…
Wintershall Dea Looks to Domestic Production as Russia has 'Destroyed' Trust
Germany's Wintershall Dea, a shareholder of the Nord Stream 1 pipeline and longstanding Gazprom partner, on Tuesday said it would look to increase domestic oil and gas output since Russia has lost its status as a reliable energy supplier.If Europe wants to reduce its dependence on imports it has to look at domestic energy supplies, Chief Executive…
Indonesian Coal Export Ban Rattles a Sector
The world's leading exporter of thermal coal on Saturday banned the shipments because of concerns it could not meet its own power demand, prompting President Joko Widodo on Monday to threaten to revoke business permits for any miners who failed to meet domestic market requirements.In turn, Indonesian coal miners want a quick resolution as fuel…
Deal Struck to Deliver Maritime Biofuel in Fujairah
Uniper Energy DMCC (UED) and Neutral Fuels will collaborate to provide maritime biofuel in Fujairah, UAE.The companies will blend UED’s VLSFO and Neutral Fuels biofuel, creating a maritime fuel that meets IMO standard under their ISO8217:2010 RMG380 specification, cutting emissions of carbon dioxide.“The collaboration is aimed to address climate protection…
Japan to Develop Offshore Wind Farms at 30 Sites in 10 years
Japan will craft new rules and support infrastructure in a drive that aims to build offshore wind farms at 30 sites during the next decade, the Nikkei business daily said on Thursday.Industry Minister Hiroshi Kajiyama is expected to announce policy measures soon to target the goal, the paper said, without identifying sources.The new policy aims…
Ukraine's Odessa Gets First WTI Oil Cargo from US
Ukraine's Black Sea port of Odessa is set to receive on Wednesday its first ever West Texas Intermediate (WTI) oil cargo from the United States, according to industry sources and shipping data, just a month after the front-month futures for the blend turned negative.U.S. West Texas Intermediate (WTI) May crude futures sank to minus $38 per barrel on April 20…
Chinese Buyers Snap Up U.S. Oil Purchases at Widest Discounts Ever
China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in March applications from its companies to waive import tariffs on U.S. energy goods as part of the Sino-U.S. Phase 1 trade…
China Opens Up to Foreign E&P Firms
For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The long-awaited opening accompanies a reshuffle of the so-called "midstream" pipeline business, but experts say it may not excite immediate interest from global drillers because of the poor
Poland Ends Major Russian LNG Contract
Poland's state gas company PGNiG says it had notified Russia's Gazprom that it will not renew their long-term deal on liquefied natural gas (LNG) supplies when the agreement expires after 2022.In accordance with the provisions of the Yamal Contract, three years prior to its original termination date, i.e. by December 31st, 2019, the parties are…
Fluxys Sign LNG Contract with Qatar
Qatar Petroleum subsidiary Qatar Terminal Limited (QTL) and Fluxys Belgium subsidiary Fluxys LNG signed a long-term LNG Services Agreement for the Zeebrugge LNG terminal.Under the agreement, QTL subscribes unloading slots at the facility from the expiry of the current long-term unloading contracts and up to 2044.The agreement was signed during a ceremony held in Brussels today by Saad Sherida Al-Kaabi…
Renewables Take Over as Germany's Main Energy Source
Renewables overtook coal as Germany's main source of energy for the first time last year, accounting for just over 40 percent of electricity production, research showed on Thursday.The shift marks progress as Europe's biggest economy aims for renewables to provide 65 percent of its energy by 2030 in a costly transition as it abandons nuclear power…
Lithuania Plans to Buy an FSRU
Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas.Klaipedos Nafta is currently leasing a floating storage and regasification unit (FSRU), called Independence, from Norway's Hoegh LNG.The use of the vessel has allowed Lithuania to import LNG since 2014…
Poland Sees First Nuclear Power After 2030
Poland expects its first nuclear power plant to start operating after 2030 as the country aims to cut its use of coal in producing electricity, Deputy Environment Minister Michal Kurtyka said.The east European country, which hosts global climate talks in December, generates around 80 percent of its electricity from coal in outdated power plants…
US warns sanctions still an option against Nord Stream 2
The United States could yet impose new sanctions to try to block construction of the Russian Nord Stream 2 gas pipeline across the Baltic Sea to the European Union, the U.S. ambassador to the EU said on Tuesday.Asked if Donald Trump could take further measures to thwart a project which the president has said would leave EU countries even more beholden to Moscow for their energy…
Shipping Industry Welcomes EU Support to Green Fuel
The shipping industry and the European Independent fuel suppliers welcome the European Parliament’s support to incentivize the uptake of low-carbon and carbon-free alternative fuels and to remove disparities in energy taxation.On 25 October the European Parliament adopted its report on The deployment of infrastructure for alternative fuels in…
