Mubadala Energy acquires Kimmeridge LNG and gas projects in the US
Mubadala Energy is an arm of Abu Dhabi’s sovereign wealth fund. It signed a deal with Kimmeridge, a US-based energy investor, on Thursday that gives it stakes in American gas assets. This marks its entry into the United States market, as part of the company’s growth plans. Mubadala Energy announced that the deal to purchase 24.1% of Kimmeridge’s SoTex HoldCo would give Mubadala Energy direct access to Kimmeridge’s unconventional gas production and to a Louisiana liquefied gas export project.
China's petchem plants could be closed as US LPG tariffs loom
Industry insiders say that Chinese petrochemical manufacturers who buy US LPG worth $11 billion annually will cut production or close for maintenance as Beijing's tariffs on U.S. imported products drive up prices. Over 30 PDH plants rely heavily on U.S. LPG or propane for the production of propylene, a plastics intermediate. Armaan Ashraf is the global head of natural gases liquids for consultancy FGE. He said that tariffs may…
Aquila Group opens Middle East office in Abu Dhabi
Aquila Group, a Hamburg-based investment company, is expanding operations by opening a new office at Abu Dhabi in United Arab Emirates to target growth opportunities in Gulf and Middle East. Aquila Capital Middle East will deploy capital to Middle East projects such as data centres and renewable energies, according to a company statement. The company manages assets worth 16.88 billion euros (15.4 billion euro). Zaki Nuseibeh is the chief executive officer of Aquila Middle East.
Japan's Terra Drone will boost collaboration with Saudi Aramco in inspections
Terra Drone, a Japanese startup that uses drones to inspect and survey energy infrastructure, has announced it is increasing its cooperation with Saudi Arabian state-owned Aramco in order to inspect oil and natural gas facilities. Terra Drone, a Japanese company, has signed an agreement with Aramco that will allow it to test its drones in Saudi Arabia. This is expected to begin later this year or early next. Terra Drone stated that the actual operation of the inspections will begin in 2027.
Trump tariffs stymie M&As and IPOs during what was expected to be a record-breaking quarter
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion. The Asia Pacific region was largely responsible for this, where three state-run deals announced on Sunday by China and a port deal driven by Trump nearly doubled the M&A volume compared to last year.
M&A revenues fall as Trump pursues his tariffs. Global deal activity is disappointing
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion. The Asia Pacific region was largely responsible for this, where three state-run deals announced on Sunday by China and a port deal driven by Trump nearly doubled the M&A volume compared to last year.
UAE renewables firm Masdar weighs possible IPO, sources say
Three people familiar with the situation have confirmed that Masdar, Abu Dhabi's state owned renewables company, is considering a public offering. Two sources said that the company was considering a dual listing, one in New York and another in Abu Dhabi, to raise funds for renewable projects. A third person confirmed that Masdar had held informal discussions with banks. Two people have said that an IPO will not happen before 2026. One person said that the company might not even pursue an IPO.
Energean reports a rise in its annual profit and flags exploration costs
Energean, a UK-based gas company, reported a 2% increase in its annual profit after taxes on Thursday. However, it also flagged $241 million in impairments relating to assets located in Egypt, Morrocco, and Greece. The company reported a profit of $188 millions for the year ending December 31, 2024. This is up from $185 in 2023. The company stated that the increasing demand for electricity and the government's plan to phase out coal in Israel have increased the demand for natural gas in Israel…
Prices of gas in Europe drop ahead of Trump-Putin call
Dutch and British wholesale prices for gas eased Tuesday morning, as the market awaited news of a possible peace agreement between Russia and Ukraine. However, low storage levels are still a concern while weather forecasts remain mixed. LSEG data shows that the Dutch front-month contract has dropped by 0.55 euros to 40.65 Euro per megawatt hour at 0917 GMT. The Dutch May contract fell by 0.68 euros to 40.57 euros/MWh while the day-ahead contracts eased 0.20 euros to 40.80 euro/MWh.
Australia shares gain for the second straight session, as energy and tech leads gains
Tuesday saw Australian shares rise for the second session in a row, boosted by energy and technology stocks. Rising oil prices, and Wall Street's positive lead, also helped to boost sentiment. By 2335 GMT, the S&P/ASX 200 Index had risen 0.6% to 7,904.2. The benchmark closed Monday 0.8% higher. The energy sub-index on the local exchange increased by 1.5%, as oil prices continued to rise due to escalating geopolitical conflicts in the Middle East. Meanwhile, stronger Chinese economic data also boosted demand expectations.
Chinese Companies Shy Away From Russian Oil
Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow, multiple trade sources said.Russian oil supplies to top buyers India and China fell sharply following the January 10 sanctions by the former Biden administration targeting Russian producers Gazprom Neft and Surgutneftegaz…
Ministers and executives say that if sanctions are eased, Europe will avoid Russian energy.
Ministers and executives at a Houston conference said that European buyers will not return to Russia's Energy Sector if the sanctions are lifted. The bloc has diversified its power mix by using renewable energy and alternative suppliers of gas. According to a joint U.S. and Ukrainian statement released on Tuesday, Ukraine agreed to accept the U.S. proposal of an immediate 30-day truce in order to restore a lasting peace following Russia's invasion. Last week, it was reported that the U.S.
BP CEO: It's time to increase U.S. production of gas
HOUSTON, 11 March - BP will increase U.S. Natural Gas production in its onshore shale operation following the recent rise of domestic gas prices. CEO Murray Auchincloss announced this on Tuesday. Auchincloss said at the CERAWeek Conference in Houston that "with rising gas prices, it is time for the Haynesville basin" in eastern Texas. As new LNG export terminals on the Gulf Coast ramped-up, the benchmark U.S. Natural Gas prices more than doubled in the last year to $4.4 per million British Thermal Units (mmBtu). BP's onshore U.S.
South Korea and the US form a working group to discuss Alaska LNG project tariffs
Ahn Duk Geun, South Korea’s Minister of Industry, announced on Tuesday that the United States and South Korea have agreed to form a group at a working level to discuss issues such as a pipeline project for gas in Alaska, energy and shipbuilding, tariffs, and non-tariff obstacles. Ahn, a reporter in Sejong, said that the United States had asked South Korea and others if they were interested in taking part in an Alaskan LNG Project. He said that both sides would discuss possible cooperation in the energy sector.
As market monitors Ukraine peace negotiations, the price of gas in Europe is at a two-month low.
Dutch wholesale gas prices dropped significantly on Tuesday amid a large sell-off, as the market waited for the outcome of the U.S.-led negotiations to end the conflict in Ukraine. The benchmark front-month TTF contract in the Netherlands closed at 43.99 euros, or $13.53 per megawatt hour, down almost 5% at 2.31 euro. The Dutch day-ahead contracts fell by 3.5 euros or 7.42%, to 43.70 Euro/MWh. This is also the lowest level seen since December 20. Axios, citing an anonymous source, reported that U.S.
Argus Media launches new Middle East gas assessment
Argus Media, a price assessment agency, will create a new Middle East benchmark for gasoline in part because of the rising production and trading in this region. This was announced at its oil conference in London on Tuesday. Anu Agarwal, vice president of business development at Argus and custodian for the Eurobob gasoline benchmark widely traded in Europe, said that the company will be launching a new MEBOB Middle East gas assessment in the next few weeks or months.
Italy's Saipem and Norway's Subsea 7, to create a leader in energy services
Saipem, an Italian company, has agreed to merge its Norwegian competitor Subsea 7 into a global leader in offshore energy services. The deal is a 100% share transaction. The two companies announced that the combined group will be called Saipem7. It will have a backlog of orders of over 45 billion euros, revenue of around 20 billion and core earnings exceeding 2 billion. Saipem shares rose more than 5% before falling more than 4.2%. Subsea 7's stock was up 3.2% at 1324 GMT.
Italy's Saipem and Norway's Subsea 7, to create a leader in energy services
Saipem, an Italian company, has agreed to merge its Norwegian competitor Subsea 7 into a global leader in offshore energy services. The deal is a 100% share transaction. The two companies announced that the combined group will be called Saipem7. It will have a backlog of orders of over 45 billion euros, revenue of around 20 billion and core earnings exceeding 2 billion. Saipem shares rose more than 5% before falling more than 4.5%. Subsea 7's stock was up 3.2% at 1324 GMT.
ADNOC, the UAE's gas company, has completed a $2.84 billion share sale.
Abu Dhabi National Oil Co. (ADNOC), the energy giant of United Arab Emirates, announced early Friday that it had completed a 2.84 billion dollar market offering for its ADNOC Gas division. ADNOC said in a press release that the offering price was 3.40 dirhams for each share. The sale is the largest share offering in the Middle East and North Africa region (MENA) since the $12,3 billion follow-on offer by Saudi Aramco last June and the largest of recent years.
Qatar reduces the April al-Shaheen term crude price, sources claim
QatarEnergy, according to trade sources, has reduced the term price of al-Shaheen oil loadings in April from the highest premium seen in over two years. Sources said that the term price for cargoes loaded in March was $3.50 per barrel above Dubai prices, a decrease from the $3.81 premium per barrel set by the March loading cargoes. Last month, the price was a week after the U.S. introduced aggressive sanctions against Russian energy trade. This immediately increased oil prices and shipping charges.
