European firms exposed as Trump targets US offshore wind
U.S. President Donald Trump in his first day of office on Monday suspended new federal offshore wind leasing pending an environmental and economic review, saying wind mills are ugly, expensive and harm wildlife.Former President Joe Biden supported the offshore wind industry…
Portugal imports more US and Nigerian LNG in order to stop Russian supplies
The Portuguese government plans to buy more liquefied gas (LNG), mainly from the United States, and Nigeria to replace its already diminishing Russian supplies. This was announced by Environment Minister Maria da Graca Carvalho on Tuesday. Data from the electricity and gas grid operator REN show that Portugal will import 49…
Indonesia will offer carbon credits to foreign buyers in the near future
The carbon exchange in Indonesia announced that Indonesia will begin offering carbon credits to international buyers as early as next week. This is to raise money to support efforts to reach its carbon neutrality goal. Indonesia, an archipelago that has the third largest rainforest in the world…
Egypt rushes solar energy to catch up as gas prices soar
Egypt, with its few clouds, vast deserts, and well-developed electrical grid, has everything it needs to expand solar energy generation. It is only now that Egypt has begun to take advantage of these resources, as the price of imported natural gas has risen. Last year…
BOEM Advances Offshore Wind Leasing in Guam
In support of the current administration’s goals to deploy 30 gigawatts (GW) of offshore wind energy capacity by 2030 and 15 GW of floating offshore wind energy capacity by 2035, the Bureau of Ocean Energy Management (BOEM) today announced the publication of a Call for…
PacificLight Power builds a hydrogen-ready gas powered plant in Singapore
PacificLight Power said that it received approval on Friday from the Singapore Government to build a hydrogen-fueled gas power plant at Jurong Island. The project is part of the city's plan to decarbonise their power grid which relies mainly on natural gas for generation.
Data shows that Russia's LNG exports in 2024 will increase by 3%.
LSEG's preliminary data on Saturday showed that Russia's LNG exports increased by 3% to 32 million metric tonnes in 2024, with about half of it going to Europe. China, the largest Russian importer, imported more than 7 millions tons of super-cool gas. In Europe, the Russian LNG exports were mainly delivered to France this year…
Iranian Oil Prices to China Spike as Shipping Sanctions Bite
The price of Iranian crude oil sold to China has risen to the highest in years as fresh U.S. sanctions have tightened shipping capacity and driven up logistics costs, trade sources and analysts said.Rising prices for Iranian oil as well as Russian crude are raising costs…
Denmark Issues Offshore Wind Permit
The Danish Energy Agency has granted a construction permit for 240-megawatt (MW) Jammerland Bugt offshore wind farm, which is expected to start operating in 2029, developer European Energy said on Tuesday.The project is located in the Bay of Jammerland, on the western…
Eastern Canadian provinces replace controversial Churchill Falls Hydropower deal
On Thursday, the Canadian province Newfoundland and Labrador signed a Memorandum of Understanding with its neighboring Quebec to create a deal for hydroelectric generation in Labrador. This agreement is expected to generate revenue of approximately C$200 billion (US$140.97 billion).
Malaysia's Petronas, Petros finalising deal on gas distribution in Sarawak state, PM says
Anwar Ibrahim, the Prime Minister of Malaysia, said that Petroliam Nasional Berhad and Petroleum Sarawak Berhad are working to finalize details for a long-delayed gas distribution agreement in Sarawak. Both companies have been at odds for months over Sarawak's plans to…
VEGOILS-Palm trades lower after Malaysian palm oil data
The price of Malaysian palm futures dropped on Tuesday, after the data released by the industry regulator confirmed that market expectations were correct. This was due to a decline in Malaysian stocks, production and exports. By midday, the benchmark palm oil contract…
Russia extends deadline for Exxon to sell Sakhalin-1 stake to 2026 in a decree
On Monday, Russian President Vladimir Putin issued a decree extending by one year the period of sale for Exxon’s share in Russia’s Sakhalin-1 gas and oil project until January 1, 2026. Exxon will take a $4.6 billion charge in 2022 for abandoning its development on the Pacific Island of Sakhalin.
VEGOILS - Palm oil drops as the weather improves in Malaysia. Gains for a second consecutive week
The price of Malaysian palm oils futures fell on Friday as supply concerns eased. However, the contract continued to rise for the second consecutive week, thanks to improved weather conditions in Malaysia, the second largest producer in the world. The benchmark palm-oil…
Palm oil drops as the weather improves in Malaysia. Set for second week gains
The price of Malaysian palm futures fell on Friday as supply concerns eased. Weather conditions in Malaysia, the second largest producer of palm oil, also improved. However, the contract was still set to increase for a second consecutive week. By midday, the benchmark…
Cuba's electrical grid is back online but generation still lagged
Cuba announced late Wednesday that it had reconnected the national electrical grid. However, production remained well below demand a day after an outage caused by a power plant knocked millions of people off their electricity. Cuba's Energy and Mines minister Vicente de…
LNG traders divert cargoes to Asia from Europe as demand in the east increases
Analysts and shipping data indicate that three LNG cargoes bound for Europe were diverted to Asia in order to meet the stronger Asian demand, and because gas prices have decreased in Europe. The rapid change of course shows the agility of the trading firms to send LNG supplies either to Europe or Asia.
Canada opens Pacific trade pact to new members following Taiwan's complaint
Canada's government confirmed that a major Trans-Pacific Trade Pact is still open for other aspirant member countries, including Taiwan, to join. This was after Taipei complained about the lack of a working group that would consider Taiwan's entry. Taiwan's Government…
Data shows that Russia's LNG exports from Jan-Nov are up by 5%.
LSEG reported on Monday that Russia's January-November LNG exports increased by 4.7 % compared to a year ago, reaching 29,1 million metric tonnes. Just over half of these were shipped to Europe. In the first 11 month of this year, Europe imported around 14.7 millions tons of Russian exports. This is 51% of all Russian exports.
Cuba announces new restrictions and a contingency plan as the energy crisis intensifies
Cuba has asked businesses and state-owned companies to reduce their air conditioning usage and generate more electricity using renewable sources, and also to take other conservation measures. This is as the communist government faces its worst energy crisis for decades.
