Wartsila CEO sees boost from Trump Datacenter Push
The CEO of the Finnish energy company said that a push to have U.S. datacentres use their own power would boost the demand for Wartsila’s environmentally friendly products and?help support a "double digit" increase in the hiring of service staff over the next 2 years. The White House announced on Wednesday that it will meet with technology companies such as Microsoft and Amazon on March 4, to discuss a plan for protecting consumers from rising energy costs linked to the surge in demand?for AI-focused, datacenters. This issue has become a hot topic in the United States ahead of mid-term elections this year.
Kazakhstan: Tengiz supergiant oilfield nearing capacity
Kazakhstan?Energy minister Erlan Akkenzhenov announced on Friday that oil production had almost reached full capacity in the largest oilfield, Tengiz. This was after the oilfield suffered a power failure at the end January. The decline in production at Tengiz, a Chevron-led project, caused Kazkhastan to reduce its oil exports. It also boosted the global oil price. The minister told reporters that "production has almost reached its full capacity. He added that oil exports this year from Kazakhstan are expected to be "on par" with levels in 2025…
The French far-right has filed a motion of no confidence against the PM regarding the new energy law
The National Rally party of France, which is far right, submitted a motion of no confidence against the government on Monday following the 'adoption' of a new 'energy law. The motion will likely fail, as the Socialist Party, a pivotal swing vote in a fragmented assembly, has indicated that it won't support the effort. France announced a long-delayed strategy for energy this month, which scaled back renewable energy goals. It also eased the pressure on state-run utility EDF by reversing an order to shut down '14 nuclear reactors.
Turkey declares Greece-Chevron activities off Crete illegal
The Turkish government said that it was opposed to Greece's unilateral?activities? in the energy fields south-west of Crete, with a consortium headed by?U.S. Chevron, a major oil company, as a violation of international law and good neighbourly relations. Athens responded that its policies adhere to international law. Chevron and its consortium signed exclusive lease agreements Monday to search for natural gas offshore southern Greece. This expands U.S. presence throughout the eastern Mediterranean. The report said that while the activity did not directly affect Turkey's continental shelves…
Turkey declares Greece-Chevron activities off Crete illegal
Turkey has said that it opposes Greece's unilateral activities in hydrocarbon fields south of Crete, with a consortium led by U.S. oil giant Chevron. This is a violation of international law and good neighbourly relations. Chevron, a consortium led by Chevron, signed exclusive lease agreements to search for natural gas in southern Greece on Monday. This will expand the United States presence in the eastern Mediterranean. The Turkish Defence Ministry stated at its weekly press briefing that "we oppose this illegal activity which is being tried in violation of 2019 Memorandum on Maritime Jurisdiction Between Libya and our Country".
SSE Partners to Invest in Scottish Subsea Cable Upgrade
British power firm SSE said on Tuesday its electricity distribution unit has selected five contract partners for an investment up to 950 million pounds ($1.28 billion) to upgrade subsea electricity network connecting Scotland's island communities.SSEN Distribution said the agreements with Briggs Marine, DOF Subsea UK, N-Sea, Enshore Subsea and Jan De Nul will run for an initial five-year period, with an option to extend for three more years.($1 = 0.7398 pounds)(Reuters)
Chevron and a consortium of companies sign contracts for gas exploration offshore Greece
On Monday, a consortium led by U.S. oil giant Chevron signed exclusive lease agreements to search for natural gas in southern Greece. This agreement expands the United States presence in the Eastern Mediterranean. The deal will double the amount of Greek marine acreage that is available for exploration. It's also the second time in recent months that a U.S. oil major has been involved. This is because the European Union wants to reduce its dependence on Russian gas and the U.S. wants to replace it. Exxon Mobil joined Energean in November to search for gas on another offshore block of Western Greece.
Chevron and a consortium of companies sign contracts for gas exploration offshore Greece
The United States has expanded its presence in the Eastern Mediterranean with the signing of exclusive lease agreements by a?consortium headed by U.S. major oil company?Chevron? to search for natural gas offshore southern Greece. This deal, the second to be signed in recent months by a 'U.S. company, doubles the amount available of Greek marine acreage for exploration. The European Union is phasing out Russian supplies and the United States is looking to replace them. The European Union is looking to replace them. Exxon Mobil joined Energean, Helleniq and others in November to search for natural gas in another offshore block off Western Greece.
France's new Energy Law slashes Renewable Targets, Eases Pressure on EDF
After years of debate, France has finally passed a new law on energy that reduces its "wind and solar" targets and removes the mandate for EDF (the state-owned firm) to shut down nuclear plants. We need to stop the internal family fighting. "We need both renewables and nuclear," said Roland Lescure, finance minister. After almost three years, the law will be passed by decree after bitter debate among legislators. It also reverses an earlier legal mandate that required 14 reactors to close. This was a promise made by President Emmanuel Macron during his 2017 election campaign.
Brazil's oil regulator authorizes Petrobras to resume Foz do Amazonas drilling
A document obtained by?showed that Brazil's oil regulator ANP had?authorized the?state-run Petrobras on Wednesday to resume drilling operations in the environmentally sensitive Foz do Amazonas area. The drilling was halted by the?ANP in early December after a synthetic liquid leaked from auxiliary lines that connected Petrobras' drill rig with a planned well located off the coast of Brazil’s?Amazonian State of?Amapa. The spill sparked outrage from local Indigenous groups and activists who had warned for years about the potential impact of oil exploration on the marine and coastal ecosystems in the region.
Count down to CMA Shipping 2026
The count down is on for this year’s CMA Shipping 2026 conference and exhibition taking place from 10–12 March 2026 at the Hilton Stamford Hotel in Stamford, Connecticut. Organised by the Connecticut Maritime Association (CMA) and Informa Markets, this flagship event is set to bring together the most influential voices in the maritime industry for three days of industry networking, knowledge sharing, and innovation.CMA Shipping 2026 features a robust conference agenda designed to address the most pressing issues facing the maritime sector.
Electricity Needs for AI, Data Centers May Turn LNG Glut into Gap by 2030
Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday.LNG coming online between 2026 and 2029 has raised concerns of a supply glut that could depress prices, with projects like Golden Pass LNG on the U.S. Gulf Coast and Qatar's North Field Expansion expected to contribute sizeable volumes."We always thought the market would have some kind of oversupply between 2025-2030 (and) beyond 2030 you will have a shortage…
Russian Oil Stored in Tankers Awaits Sales
Traders are increasingly using tankers to store Russia's Urals crude as demand weakens and customers weigh growing sanctions risks, Reuters calculations based on LSEG and trade data show.Major importers India and Turkey have cut purchases since the end of the last year amid tougher Western sanctions, including recent U.S. measures on Rosneft and Lukoil and a European Union ban on fuel produced from Russian crude. Prices for Russian oil have sunk to record lows.The growing number of tankers waiting to discharge cargoes has tightened vessel availability for shipping Russian oil…
Houston, the US oil capital, is buzzing as industry prepares for Venezuelan oil rush
Matthew Goitia explains his idea in a bar downtown Houston. He wants to build and refurbish marine terminals for Venezuela that will allow crude oil to be blended and exported, and chemical products shipped. Matthew Goitia, a director at Pelorus Terminals, explains his ambitious plan to refurbish and build marine terminals that can blend and export crude and ship chemical products in Venezuela. He also plans to add storage tanks, renovate the docks, and ensure that power is available. This could all take three to ten years. It's still unclear how to obtain permission from the U.S. Government to carry out any of these activities.
Kazakhstan's Tengiz Oil Field to Remain Shut for Another 7-10 Days
Oil production at Kazakhstan's vast Tengiz oil field, one of the world's largest, could be halted for another 7-10 days after shutting down on Sunday, cutting crude exports via the Caspian Pipeline Consortium, three industry sources told Reuters.The field's operator Tengizchevroil (TCO) said on Monday that due to power supply problems, production at the Tengiz and Korolevskoye field had been stopped.A day earlier, on January 18, a fire broke out at two turbine transformers at the field's GTES-4 power station, according to Kazakhstan's state-owned national oil and gas company KazMunayGas."TCO's output is down until the end of the week…
Petrobras' drilling in Foz do Amazonas is put on hold by Brazil's oil regulator
The Brazilian oil regulator ANP told Petrobras on Thursday that the company could not resume offshore drilling until it provided information about a 'leak' of synthetic fluid in this environmentally sensitive area. Documents signed on Wednesday by ANP and seen by others earlier recorded the decision. ANP stated in a press release that Petrobras was required to report the cause of the "leak" and mitigation measures. Foz do Amazonas, the large delta formed where the Amazon River meets the Atlantic Ocean on the coast of north Brazil is the largest delta in the world.
Oil Prices Rise 2% Amidst Venezuela Conflict, Supply Concerns
Oil prices rose about 2% on Thursday after two days of declines as investors assessed developments in Venezuela and on worries about supplies from Russia, Iraq and Iran.Brent futures rose $1.21, or 2%, to $61.17 per barrel at 11:17 a.m. EST (1617 GMT), while U.S. West Texas Intermediate crude gained $1.02, or 1.8%, to $57.01.The U.S. seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one sailing under Russia's flag, as part of U.S. President Donald Trump's aggressive push to dictate oil flows in the…
Equinor has announced that it will comply with the stop-work order issued by the US Department of Energy for offshore wind projects
OSLO, December 22 - Norwegian Energy Group Equinor announced?on Sunday that it was complying?with a?stopwork order issued by the U.S. regarding its Empire Wind 1 off shore wind project and engaging authorities. On Monday, the U.S. Department of the Interior announced that it had suspended leases for five large-scale offshore projects due to national security concerns. Equinor stated that Empire 'Wind' is adhering to the notice ordering the cessation of ongoing activities and engaging with relevant authorities in order to better understand the issue. The company said that the?project? off the coast New York has a?capacity of 810 megawatts.
The LNG tanker Kunpeng loads cargo at a Russian plant in violation of sanctions
Ship-tracking data showed that a liquefied gas tanker loaded a cargo at Russia's Portovaya?LNG plant, which is under Western sanctions due to Moscow's conflict in Ukraine. According to data provided by analytics firm Kpler, the Kunpeng arrived in Portovaya's LNG terminal on December 18, was unloaded on that day and left with a cargo of natural gas on December 21. LSEG data shows that the tanker arrived and left the terminal at the same dates. It is the first time that a vessel, Kunpeng, not subject to sanctions, has picked up LNG from a designated LNG project.
Glencore purchases majority stake in Dutch fuel firm FincoEnergies
LONDON, December 22 - Global commodities traders and miners Glencore have?agreed? to purchase a majority stake of Dutch fuel supplier FincoEnergies, for an undisclosed amount, the Dutch company announced on Monday. Industry sources claim that Glencore will expand its presence in the fuel markets of Northwest Europe with this deal. Finco is one of the major players in the Dutch wholesale fuel market, as well as in the biofuels and low carbon fuel sectors in the region. Glencore, a global trading house, is looking to acquire strategic assets across the oil supply chain in order to increase trading opportunities.