Palm oil prices will average lower in 2026 due to higher supply and weak biofuel demand
A poll revealed that Malaysian crude palm futures prices are expected to be slightly lower than they were last year in 2026, due to a stronger supply by'major' producers and a subdued demand for biofuels. According to 14 traders, analysts, and industry participants, the benchmark palm oil price will average 4,125 Ringgit per metric ton in 2018, down 2,55% from 2025.
Venezuelan oil companies are pushing for rapid reforms to allow them to control oil exports
Sources involved in the talks say that oil executives and lawyers from international oil companies are lobbying for changes to the hydrocarbon laws of OPEC members in order to 'give them the freedom to export the oil produced in Venezuela. Many potential investors want to know how they can make this happen without waiting years for the legal and contractual reforms to protect their investment.
Another legal defeat for Trump as US judge allows Dominion to restart offshore wind project
Federal judge cleared Dominion Energy, a U.S. energy company to resume its Virginia offshore project on Friday. This is the third legal blow this week against President Donald Trump’s anti-offshore winds agenda. Judge Jamar Walker of U.S. District Court for Eastern District of Virginia has issued a temporary injunction that allows Dominion Construction to resume construction on the $11.2billion project…
Urals Freight Rates to India Rise Due to Bad Weather, War Risks
Freight rates for tankers to ship Urals crude from Russia’s western ports to India have risen this month, as bad weather made fewer vessels available, disrupted loading and unloading and the cost of insuring for war risks increased, industry sources told Reuters on Friday.Drones struck two oil tankers in the Black Sea on Tuesday, including one chartered by U.S. oil major Chevron…
What excites and concerns LNG exporters by 2026? Maguire
In 2025, the LNG industry will make history after exports and production of super-chilled fuel broke records and generated billions in revenue across the global supply chain. Gas sellers were encouraged by the 25% increase in LNG purchases in Europe. This was an important development and raised expectations that gas consumption in countries like Germany, Italy and United Kingdom will continue to grow in 2026.
What excites and concerns LNG exporters by 2026? Maguire
In 2025, the LNG industry will make history after the production and exports of super-chilled fuel broke records and generated billions in revenue across the global supply chain of liquefied gas. The 25% increase in LNG purchases in Europe was a major highlight. This gave gas sellers hope that gas consumption in countries like Germany, Italy and the United Kingdom will continue to grow in 2026.
India's clean-energy industry opposes the revocation due to delays
NEW DELHI (Jan 15) - India’s renewable energy groups objected to a proposed regulatory measure that could strip developers from interstate transmission system connectivity if they fail to sign long-term power purchasing agreements in a timely manner, according?to letters sent?to India’s power regulator. The groups said that the Central Electricity Regulatory Commission…
Venezuela's Rodriguez proposes oil reform to facilitate investment
Delcy Rodriguez, Venezuela's interim president, said Thursday she would submit a proposal for reforming?the country’s hydrocarbon laws. Investors in the U.S. are pushing to?get easier access to Venezuela’s?oil sector. Rodriguez said that funds generated from the oil industry would be used to pay for workers and public services. According to the U.S., around $500 million has been generated by oil sales in a deal signed with Caracas.
Rio Tinto will supply copper to Amazon to build AI data centers
Rio Tinto announced on Thursday that it will supply copper it leaches from a mine in Arizona to Amazon.com, for use in its artificial intelligence data centers. The move highlights the rampant demand by?the?AI industry to access supplies of copper and critical minerals used in building wiring, cables and circuit boards, and other electronic components. Analysts have warned that supplies may fall short and a rush is underway to ensure access.
Sources say that Repsol, Maurel & Prom are applying to the US for licenses to export Venezuelan crude oil.
Five industry sources have confirmed that several?European oil companies, including Spain's Repsol, France's Maurel & Prom and France's Repsol, have applied to the United States for licenses or authorizations in order to export Venezuelan oil. Two sources confirmed that the terms requested are similar to the ones Washington granted in the past, which allowed companies to import and export Venezuelan crude oil to their refineries…
Sources say that the US will finalize biofuel quotas for 2026 by early March and drop import penalties.
According to two sources familiar with the plans, the administration of 'President Donald Trump' plans to finalize biofuel blending quotes for 2026 by early March. They will keep them close to their initial proposal, while dropping plans to penalize imported renewable fuels and feedstocks. The plan, if finalized, would represent a partial compromise among rival oil and agricultural industry groups.
UAE's ADNOC weighs Venezuela gas investment, Bloomberg News reports
Bloomberg News, citing sources familiar with the situation, reported that the?state oil company of Abu Dhabi, ADNOC, is considering entering Venezuela's energy industry. It could also seek a partnership to participate in Venezuela's gas projects with?another? international producer. Could not verify the report immediately. XRG, ADNOC’s international investment arm, set up?inlate 2024, declined comment.
US court will weigh New York's challenge to Trump's offshore wind halt
On Wednesday, a U.S. court will decide whether or not to allow Norwegian offshore developer Equinor the opportunity to resume the construction of the Empire Wind Project off the coast of New York. The company is suing the Trump administration for its suspension of the industry. The hearing at the U.S. District Court of Washington takes place two days after that same…
US Judge to make a quick decision on Equinor's challenge to Trump offshore Wind Pause
A U.S. Judge said Wednesday that he will rule soon on whether he will allow Norwegian offshore wind developer Equinor, to resume construction on the Empire Wind project?off the coast of New York?in a lawsuit filed over the Trump Administration's suspension of federal waters for the offshore wind industry. The U.S. District Court of Washington's Judge Carl Nichols declined…
Saudi Aramco signs long-term supply agreement with Commonwealth LNG
Three people with knowledge of the deal say that 'Saudi Aramco signed a contract with Commonwealth LNG for the U.S. LNG company to supply 1 million metric tons per annum. Saudi Aramco has the option to double its volume up to 2 mtpa. Saudi Aramco aims to be a major player in the liquefied gas industry, particularly in the United States, where capacity for LNG is expected to double within four years. It has signed agreements with other U.S.
Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources told us on Wednesday that Chevron will receive a Venezuela license extension from the U.S. this week. This could lead to increased production and exports. Sources said that the U.S. oil company is expected to be among several firms who will receive approvals to do business with Venezuela from President Donald Trump’s administration. Oil companies, traders, and refineries are looking for access to Venezuela's heavy crude.
Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources said on Wednesday that Chevron would receive an expanded Venezuela license this week from the U.S. Government. This could allow increased production and exports from South America. Sources said that the U.S. oil company is expected to be among several firms who will receive approvals to do business with Venezuela from the Trump administration.
India's clean-energy industry opposes the revocation due to delays
NEW DELHI (Jan 15) - India’s renewable energy groups objected against a proposed regulatory measure that could 'deprive developers of interstate system connectivity if they fail to sign long-term power purchase agreements in a timely manner, according to letters sent to the power regulator. The groups said that the Central Electricity Regulatory Commission (CERC)'s move would unfairly punish projects that are stalled due to reasons outside their control.
MOL, the Hungarian company, could soon sign a first deal to purchase a stake in Serbian NIS
Peter Szijjarto, the Hungarian foreign minister, said that the Hungarian oil company MOL will sign the first important deal in its negotiations to purchase a majority stake of the Serbian oil company NIS owned by Russia in the next few days. After meeting with the Serbian energy minister in Belgrade, Szijjarto gave a briefing saying that the United States would be notified once the first deal between MOL Neft and Gazprom is signed.
Sources say that the US will finalize biofuel quotas for 2026 by early March and drop import penalties.
According to 'two sources who are familiar with these plans, the administration of Donald Trump intends to finalize biofuel blending targets for 2026 by early March. They will keep them close to their initial proposal, while dumping a plan that penalized imports of renewable feedstocks and fuels. The plan, if finalized by the administration of President Donald Trump, would represent a partial compromise among rival oil and agricultural industry groups.