Saturday, April 26, 2025

Industrial News

Total and Shell back out of carbon storage project in the Netherlands

AMSTERDAM (25 April) - After TotalEnergies & Shell retracted part of their planned investment, the Dutch government announced on Friday that it would invest 639 million euro ($726 millions) in the construction of the largest carbon capture and storing project of the Netherlands. The two major oil companies have decided not to invest in the infrastructure needed to connect the industries with the storage sites under the North Sea in gas fields that are depleted. The government stepped in to minimize risks for two remaining investors: the Dutch Gas Grid Operator Gasunie and the Dutch government-owned EBN.

Japan's greenhouse gases emissions drop 4% to a record low in FY23/24

Government data released on Friday showed that Japan's greenhouse gases emissions dropped by 4%, reaching a new record low for the fiscal year ending March 2024. This was due to lower energy consumption, increased use of renewable energies, and restarting nuclear power plants. The data of the Environment Ministry showed that emissions for 2023/24 dropped from 1.116 billion to 1.071 billion tons of carbon dioxide. This is the second consecutive year that the figure has declined. The industrial sector experienced a decline of 4%, while the commercial sector and service sector suffered a drop of 6.2%.

Britain Emphasizes Collaboration on Energy Security at Global Summit

Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies. Credit: Adobe Stock/petert2

Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries around the world after Russia's full-scale invasion of Ukraine in 2022 drove up global prices and pushed the EU to curb its reliance on Russian fuels."Energy security is national security...

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. This year, companies will likely pull out record amounts of gas. EQT plans to spend between $1.950 and $2.70 billion in maintenance capital by 2025, producing approximately 6.03-6.30 BCFED per day.

Baker Hughes' first-quarter profits beat expectations on the back of strong demand for natural Gas Technology

Baker Hughes, a U.S. oilfield technologies firm, beat Wall Street expectations for the first-quarter profits on Tuesday thanks to a robust demand for natural Gas technology. The positive results are coming as oilfield service firms prepare for the impact of the tariffs introduced by the President Trump. These are expected to increase costs and disrupt sourcing of materials that are used in equipment such as drill pipes and artificial lifting systems. As Big Tech invests billions in AI, demand for electricity has increased to power data centres. This demand for LNG is also increasing.

US proposed looser interpretation of the law protecting threatened species

The Trump administration proposed on Wednesday a major shift in how threatened species are taken into account when agency actions are made. This was done by removing the regulatory language which aims to prevent habitat degradation. This move aligned itself with the pledge of President Donald Trump to reduce what he calls burdensome federal regulations on businesses. When deciding whether or not to issue permits for oil and natural gas, mining, transmission of electric power and other operations, agencies must consider the Endangered Species act.

EIA: US power consumption will reach new highs by 2025 and 26.

The U.S. Energy Information Administration announced in its Short Term Energy Outlook on Thursday that the U.S. will reach new records in power consumption in 2025 and in 2026. EIA projects that power demand will increase to 4,201 billion Kilowatt Hours (kWh) by 2025, and 4,244 trillion kWh by 2026. This is a significant rise from the record 4,097 kWh of 2024. These increases are due to the growth of data centers dedicated for artificial intelligence, cryptocurrency and home and business use. EIA predicts that by 2025, residential customers will consume 1,527 billion kWh of electricity.

BPCL and Sembcorp form a joint venture to develop renewables, green hydrogen in India

Bharat Petroleum Corporation, an Indian refiner, signed a joint-venture agreement on Tuesday with Singapore's Temasek backed Sembcorp for the development of green hydrogen and renewable projects in India. According to the companies, the joint venture will also look at projects in green ammonia bunkering and production, emission reduction for port operations, as well as other green fuel technology. The deal is made at a moment when India wants to reduce its dependence on fossil fuels, and increase investments in renewable energies to reach its goal of having 500 gigawatts of clean energy capacity by 2030.

Mexico considers increasing fracking in order to reduce its dependence on US gas.

The Financial Times reported that Mexico had been talking to private companies about increasing its reliance on U.S. natural gas in the face of increased trade tensions between both countries. The imports of natural gas, almost exclusively from the United States (72%) are the main sources of Mexico's total consumption. The FT reported that the discussions are still at a very preliminary stage. Four executives who were privy to the discussions said that the companies are interested in making investments. RBN Energy is a market advisor service that wrote in a note recently that U.S.

Occidental’s 1PointFive is granted permits to sequester carbon dioxide at a Texas facility

1PointFive, a unit of Occidental Petroleum, announced on Monday that the U.S. Environmental Protection Agency approved its request to sequester CO2 captured at its direct air capture facility (DAC) in Texas. Stratos is a joint-venture between BlackRock, a global asset manager, and the carbon capture and storage unit of the U.S. shale company. Stratos, one of the largest DAC plants in the world, is expected to begin commercial operations by later this year. Oil companies like Chevron and TotalEnergies are adopting carbon capture…

British stocks plunge in worst day for 2020 as US-China Trade War intensifies

Investors avoided risky assets on Friday after China's retaliatory duties against the United States raised fears of a global economic recession. The blue-chip FTSE 100 reached a three-month-low, down almost 5% – its biggest daily drop since March 2021, when the world markets plummeted due to COVID-19. The midcap index fell 4.4% and closed at a record low of 16 months. Investors rushed to government bonds and sold stocks, causing the blue chip index and midcap index to see their largest weekly declines in 5 years.

Front-year contracts are under pressure from falling gas and carbon prices

German and French power contracts for the year ahead traded lower on Monday as a result of losses in gas and carbon permits. The German power contract for 2025 has fallen by 1.9%, to 81.40 Euros ($89.41). Meanwhile the French baseload contract for 2025 has contracted by 1%, to 60.90 Euros/MWh. Dutch and British gas rates fell on Friday morning, and are near their lowest levels since early March. This is due to fears that the global tariff war caused by U.S. duties could reduce industrial activity and curtail gas demand.

Prices for EUROPE Gas remain at a 1-month low as U.S. Tariffs threaten Demand

Dutch and British gas rates fell on Friday morning, trading at their lowest level since early March. This is due to fears that the U.S.-led global trade war could reduce industrial activity and decrease gas demand. LSEG data shows that the Dutch front-month contract fell 0.48 euros to 39.00 euros per Megawatt Hour (MWh), or $12.56/mmBtu at 0807 GMT. The contract fell briefly to 38.50 Euros/MWh on Thursday, its lowest level since March 7. The British front-month contract fell 0.69 pence to 95.08 pence a therm. The British day-ahead contracts was down 0.73 pennies at 95.05 pence per therm.

Trump tariffs are set to worsen the woes in the petchems industry

Industry officials and analysts warned that the new U.S. import duties will further reduce demand for global producers of petrochemicals and increase capacity cuts in a sector plagued with low margins. The tariffs announced on Wednesday by President Donald Trump are expected to increase prices for electronic goods, appliances, and packaging. This will reduce consumption and decrease demand for petrochemicals, which are used to produce plastics and industrial chemical. The Trump tariffs on imports of crude oil, refined products and gas were not applicable to imports of these items.

Modi's India aims to strengthen energy and defence ties during Sri Lanka visit

India wants to promote investment and strengthen defence and energy ties with Sri Lanka during Prime Minister Narendra Modi’s two-day visit to the island country, where New Delhi is competing with China for more influence. Modi will arrive in Sri Lanka on Friday night. He is the first world leader to be hosted by Anura Kumara dissanayake since he assumed office. Sri Lanka wants to attract foreign investments to stabilize its economy following a financial crisis that occurred in 2022 during which India contributed $4 billion. India is one of Sri Lanka’s major bilateral lenders.

As Chinese demand slows, mining consolidation will accelerate.

The mining industry is expected to consolidate due to the decline in industrial metals demand, especially in China, the top consumer. Investors said that for now, the high costs of mergers and acquisitions among diverse miners and the significant chance of rejection could hinder full-scale activity. This is ahead of the global gathering of the Copper Industry for the CESCO in Santiago, Chile, next week. LSEG data shows that M&A activity in the mining sector dropped 27% in terms of value to $15 billion during the first quarter compared with the same period in 2024.

US tech and retail stocks lead the rout following Trump's tariff blow

Apple, Walmart and Nike are among the U.S. megacap tech companies that led to a global meltdown after President Donald Trump announced new tariffs. The fears about a cost spike across many industries were heightened by these new tariffs. The tariffs threaten to disrupt the global trade order and upset businesses. This is a stark contrast to just a few short months ago, when the hopes for business-friendly policies from the Trump administration drove U.S. stock prices to record highs. Trump announced that he would impose an initial 10% tariff on all imports into the United States…

As Chinese demand slows, mining consolidation will accelerate.

The mining industry is expected to consolidate due to the decline in industrial metals demand, especially in China, the top consumer. Investors say that for the moment, mergers and acquisitions among diversified miners may be hindered by prohibitively high costs and a significant chance of rejection. LSEG data shows that M&A activity in the mining sector dropped 27% in terms of value to $15 billion during the first quarter compared with the same period in 2024. BHP shares are down 26% since the beginning of 2024. Rio Tinto shares are down 23%, while Glencore shares have fallen 42%.

US Senators ask Energy Secretary to comply with law regarding clean energy grants and loans

U.S. Democratic Senators on Wednesday called for Energy Secretary Chris Wright's department to comply with laws that mandate his funding of clean energy projects, which were included in laws passed prior to Donald Trump becoming president. This includes four hydrogen hubs. Wright's Department is considering funding cuts for four of seven hubs that are part of a $7 billion project to decarbonize America's economy. The program is a part of Joe Biden's efforts to do so. The hubs aim to boost the production of clean hydrogen and infrastructure required to deliver it to steelmakers and cement plants…

India increases gas prices starting April

India's government website revealed on Monday that the price for its locally produced oil field gas has increased by almost 4%, to $6.75/million metric British Thermal Units (mmBtu), compared to $6.50/mmBtu the previous month. This is the first price revision for gas produced in old fields in two years. India set a price cap of $6.50 for two years in 2023. The third year will see a 25-cent increase per annum. The website of the Petroleum Planning and Analysis Cell, part of the Ministry of Oil…

Marine Technology ENews subscription

World Energy News is the global authority on the international energy industry, delivered to your Email two times per week.

Subscribe to World Energy News Alerts.