Kazakhstan Resumes Baku-Tbilisi-Ceyhan Pipeline Exports After Contamination Issues
Kazakhstan resumed oil supplies via the Baku-Tbilisi-Ceyhan pipeline on September 13, state energy company Kazmunaygaz said on Wednesday.Supplies via the route were suspended last month amid contamination issues.The BTC pipeline, which runs through Georgia to Turkey, is used mainly to export oil from the Azeri, Chirag and Guneshli oilfields, which are operated by BP.The pipeline is also used by Kazakhstan as a way to lessen its dependence on Russia as a main exporting route. More than 80% of Kazakhstan's oil exports are shipped by the Caspian Pipeline…
Georgia Power has received approval for 1,068MW of solar energy projects
Georgia Power, a unit of Southern Co, said that it received approval on Friday from the Georgia Public Service Commission to enter into five new power purchase agreements for solar sites totaling 1,068 Megawatts (MW). The new facilities are part of the Clean and Renewable Energy Subscription 2023 (CARES) program. This allows commercial and industrial clients to subscribe to renewable energies to improve sustainability efforts. Third-party companies will construct and maintain the approved projects. These bidders were selected in the CARES Request for Proposal 2023 (RFP), approved by the Final Order of the 2022 Integrated Resource Plan.
Castleton Oil Traders Geneva team to focus on oil, according to sources
Castleton Commodities International, a trader specializing in energy commodities, has established a team based in Geneva, Switzerland, in the last few weeks, as part of its efforts to expand in oil trading. Two sources familiar with this matter confirmed it on Wednesday. Sources said that the Stamford-based company hired Roberto Rosales as the leader of the Geneva-based team. Rosales previously worked as a senior oil trading at Izzy Eglander’s hedge fund Millennium Management. Sources said that Boyan Shmorhun will join Castleton’s Geneva team. He is a North Sea trader with Gunvor. Sources requested anonymity in order to discuss confidential information. Castleton declined comment.
Maguire: US clean energy capacity grows slower, but wider by 2025
This year, the pace of adding new solar, wind, and battery capacity in the U.S. has slowed down nationally and in some key states, which is hurting sentiment for clean energy. Climate trackers should take heart in the fact that growth has continued outside of Texas and California. According to data collected by the energy data platform Cleanview by mid-2025, combined installations of solar and wind power systems, as well as battery storage, are expected to increase by 7% by 2025 compared to the previous year. This would be the smallest percentage increase in these energy technologies over the past decade.
South Korea automaker shares slip after US trade deal
The shares of South Korean automakers Hyundai and Kia Corp dropped on Thursday, after U.S. president Donald Trump announced that the U.S. would charge a 15% duty on auto imports from South Korea as part of an agreement on trade. The agreement does not reduce auto tariffs to 25% but it does remove the 2,5% advantage that South Korean automakers enjoyed over their Japanese competitors under the Korea-U.S. Free Trade Agreement. Analysts said that the shares may have fallen due to profit-taking, as the news of the tariffs had already been factored into the market.
White House aide: US Energy Loan Office should fund oil and gas
A White House aide stated on Tuesday that the U.S. Energy Department loan office should finance oil and gas infrastructure. Jarrod Agen said, "One of our biggest problems is that the loan program office was used in the past for many of these renewable energy projects" at a Politico Energy conference. Thanks to the legislation that was passed during Joe Biden's term, the Loan Programs Office has grown rapidly and now has hundreds of millions of dollars of loan and guarantee capacity. Agen stated that the administration has changed the priority of LPO. This is to assist in financing emerging energy projects which show promise, but have difficulty obtaining bank loans.
Freepoint Commodities sued by ex-analyst for alleged pressure to facilitate insider trade
Former senior analyst of U.S. trading firm Freepoint Commodities, a former senior analyst has filed a lawsuit against the company. He claims that top executives pressed employees to facilitate insider trades and that they retaliated on employees who objected. Former employee Andrew Martin filed a lawsuit in New York Federal Court on May 14, claiming that Freepoint terminated Martin in November for failing to flag unethical conduct on the oil team of the company during an FBI inspection in December. The Stamford-based Connecticut company denied the allegations, and stated that Martin was dismissed for performance-related factors.
US Supreme Court dismisses state climate lawsuits against oil companies
The U.S. Supreme Court on Monday rejected a bid from 19 Republican-led state led by Alabama, to stop five Democratic-led state from pursuing lawsuits against major oil companies for deceiving public about the role that fossil fuels played in climate change. The justices refused to hear a case filed directly at the Supreme Court by Republican attorneys general. This case targeted cases filed against Exxon Mobil and other companies such as Chevron, ConocoPhillips Shell, BP, Shell, ConocoPhillips. These lawsuits were brought by California, Connecticut Minnesota, New Jersey, and Rhode Island. The Supreme Court hears appeals from lower courts in almost all cases.
Corning and US solar manufacturers join forces to produce American-made panels
The companies announced on Thursday that Corning, a technology company, has signed a deal to produce the first solar panel made entirely of American components. The alliance between Georgia's Suniva and Corning, a panel manufacturer, is an important milestone in efforts to create a U.S. manufacturing sector for solar that can compete with China. Heliene, based in Canada, produces panels in Minnesota. Corning, through its subsidiary Hemlock Semiconductor, produces silicon wafers, polysilicon and other raw materials for the solar industry in Michigan.
Trump's complaint about the trade deficit with EU and what could come next
Donald Trump, President of the United StatesTrump has pledged to reduce a long-standing trade deficit between the United States and the European Union. He says he will do this by imposing tariffs, or forcing the EU to buy more U.S. gas and oil. In a memo entitled "America First Trade Policy", issued by Trump on his first day in the White House, he directed the Commerce and Treasury Departments and the U.S. Trade Rep to investigate the goods trade deficit and recommend measures before April. Ursula von der Leyen, President of the European Commission, said that the EU is willing to engage in negotiations with the United States.
Colonial Pipeline's gasoline line likely shut until Friday
Colonial Pipeline's main U.S. gasoline artery is expected to be shut through Friday as the company continues to search for the source of a suspected leak in Paulding County, Georgia, the company said in a statement on Wednesday.Line 1, one of two mainlines on the more than 5,500-mile Colonial system, was shut on Monday night after Colonial received reports of a gasoline release and began investigating. The pipeline moves gasoline from Texas to North Carolina and was earlier expected to resume service on Tuesday night, according to market sources."Colonial continues on-site work to identify the source of the suspected release on our gasoline pipeline…
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024. This is up from 1.4m registrations in 2023 and represents the steepest growth rate ever in EV adoption in the country. AFDC data show that the number of public EV chargers has increased by just 22% in the same time period to 176 032 units.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024. This is up from 1.4m registrations in 2023 and represents the steepest growth rate ever in EV adoption in the country. AFDC data show that the number of public EV chargers has increased by just 22% in the same time period to 176 032 units.
Helene reaches hurricane strength in Gulf of Mexico and threatens Florida
The National Hurricane Center reported that the powerful storm Helene became a hurricane Wednesday morning. It was packing winds of up to 130 kph (80 mph) as it churned off the coast of Yucatan Peninsula in the eastern Gulf of Mexico. Forecasters said that Helene would continue to intensify throughout Thursday and bring a life-threatening storm to Florida's coast. The National Weather Service warned that more than 40 millions people in Florida and Georgia, as well as Alabama, were under tropical storm and hurricane warnings on Wednesday. Several evacuations have been ordered along Florida's Gulf coast. This includes Sarasota, Charlotte, and Hillsborough counties.
Cuba and Florida prepare for Tropical Storm Helene's impact
The U.S. National Weather Service reported that Tropical Storm Helene will cause mudslides, flooding and major hurricane-like conditions in Cuba. It is then expected to reach major hurricane status on Thursday when it reaches Florida with a life-threatening ocean tide. The National Hurricane Center in Miami said that Helene was moving northwest at a speed of 45 mph with sustained winds up to 72 kph. Forecasters say Helene is expected to strengthen rapidly over the warm waters of Gulf of Mexico, resulting in a major hurricane with winds up to 115 mph. State and national authorities in the U.S.
Four states join forces to build an interconnector for Azeri windfarms
Azerbaijan formed a joint-venture company with Georgia, Romania, and Hungary on Tuesday. The aim is to build an interconnector undersea across the Black Sea to connect planned Azeri Windfarms with Europe. Green Energy Corridor Power Company, based in Bucharest, Romanian capital will oversee the construction of a 1,000 megawatt cable that runs 1,100 km (685 miles) from Azerbaijan into Romania. This is part of the wider European Union effort to diversify its energy resources and away from Russia during the Ukraine War. The Romanian Minister of Energy…
US offers conditional loan guarantees of $1.5 billion to Qcells in Georgia for solar plant
The U.S. Department of Energy announced on Thursday that it has made a conditional commitment of up $1.45 billion in loan guarantees to South Korea's Qcells for the company's Cartersville, Georgia solar manufacturing plant. The Loan Programs Office of the agency said that funding will help Qcells construct a $2.5 Billion facility to produce solar panels, as well as inputs such a cells, ingots, and wafers. The department stated that the factory could produce enough panels to cover half a million American homes per year. Qcells has won a victory with this announcement. The company had warned about the threat of cheap imports to U.S. Solar factories.
US LNG Exports at 20-month Low
Natural gas flows to U.S. liquefied natural gas (LNG) export plants plunged this month after falling to a 20-month low in June as coronavirus lockdowns cut global demand for the fuel.Before the pandemic slashed energy demand, U.S. producers counted on LNG exports to keep growing fast as an outlet for their record gas output. But after soaring 68% in 2019 and 53% in 2018, U.S. LNG exports were only expected to rise about 7% in 2020.Gas pipeline flows to U.S. LNG export plants dropped to an average of 3.1 billion cubic feet per day (bcfd) so far in July from a 20-month low of 4.1 bcfd in June and a record high of 8.7 bcfd in February, according to Refinitiv data.With U.S.
Azerbaijan's Jan-April Oil Output Flat
Azerbaijan's oil and gas condensate output was flat in January-April at 12.4 million tonnes compared with 12.44 million tonnes in the same period last year, the Energy Ministry said on Thursday.Natural gas output rose to 13.4 billion cubic meters (bcm) in the first four months of 2020 from 11.6 bcm.Azerbaijan exported 10.26 million tonnes of oil in January-April, 9.8 million tonnes of which was oil produced by an international consortium led by BP while 409,000 tonnes were produced by Azeri state energy firm SOCAR.Natural gas exports from Azerbaijan to Turkey and Georgia in the first four months of the year totaled 4.6 bcm.
EXIM Bank Amends Mozambique LNG Loan. Earmarks $1.8B for Offshore Work
The U.S. EXIM Bank has amended its previously approved September 2019 direct loan supporting U.S. exports for the development and construction of the Total-operated LNG project located on the Afungi Peninsula in northern Mozambique.The original scope of the $4.7 billion loan for the project has been amended from exclusively the onshore portion of the LNG plant and related facilities to also allocate an estimated $1.8 billion to support the project’s offshore production. "As a result, the transaction now will support an increased number—16,700—of estimated American jobs over the five-year construction period," EXIM said Friday.The number of U.S.