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.
Lavrov and Rubio discuss removal of 'barriers,' set up by the previous U.S. Administration, Russia claims
In a Saturday phone call, Russian Foreign Minister Sergei Lavrov spoke with U.S. State Secretary Marco Rubio about the situation in Ukraine as well as the "unilateral obstacles" that were set up by the previous U.S. Administration. Peace talks to end the war in Ukraine will begin in the next few days, after U.S. president Donald Trump shocked European Allies when he called Russian President Vladimir Putin and declared an immediate start to talks.
ADNOC Drilling plans to refinance $1.25 billion worth of debt
ADNOC Drilling, a division of the state oil company in the United Arab Emirates, wants to refinance its debt due later this year, totaling $1.25 billion. Its chief financial officer announced that on Friday. Youssef Salm, the company's CFO, said that it will refinance term loans worth $500 million as well as a revolving loan facility of $750 million due in October 2025. He said that the capital expenditures for 2025 could be more than $1 billion, including mergers, acquisitions and other activities through its subsidiaries.
China is ready to deepen and improve ties with the UK
China is willing to improve and stabilize bilateral relations with the United Kingdom, as well as to cooperate more in the areas of infrastructure, trade, and investment. This was stated by the Chinese Foreign Ministry in a Friday statement, citing their minister. Wang Yi visited Britain for the first time since a decade on Thursday. He met with the Prime Minister, Foreign Minister and National Security Advisor. Wang, in his meeting with Keirstarmer…
Japan's JERA is seeing increased competition for US LNG from Asia and Europe
JERA, Japan's largest power generator, expects the competition for U.S. LNG to grow as Asia and Europe increase their demand. There are many buyers. Asian and European buyers really want U.S. Energy. There are many competitors," JERA Asia's CEO Izumi Ka told the India Energy Week Conference on the sidelines. After the Trump administration lifted the moratorium in January on new LNG export permits, companies in the U.S. are moving forward with plans to expand or create new export capacity.
Waaree, a manufacturer of Indian solar modules, is confident in US demand despite Trump's policy concerns. CEO Waaree
Amit Paithankar, CEO of Waaree Energies, said that the company is confident about U.S. demand, and it is well-positioned to handle possible import tariffs under Donald Trump thanks to its Texas operations. Last week, Trump ordered that spending on climate and infrastructure laws, tax credits for clean industries and new offshore wind leasing be halted. In the last nine months, nearly one fifth of Waaree’s revenue came from the United States. This is a major market for Indian manufacturers of solar modules.
Trump's policies and European demand will tighten the global LNG market by 2025.
The global market for liquefied gas could be tighter this year, as the rising demand in Europe intensifies competition between Asia and North America and offsets new North American supplies at a moment when President Donald Trump’s energy policies and tariffs are also being closely watched. Energy Aspects, a consultancy, said that Europe's LNG consumption is expected to increase by over 14 million metric tones to 101 million…
Trump's Policies, European Demand Should Tighten LNG Marke
The global market for liquefied gas could be tighter this year, as the rising demand in Europe intensifies the competition with Asia. This will offset new North American supplies at a moment when President Donald Trump’s energy policies and tariffs are also being closely watched.Energy Aspects, a consultancy, said that Europe's LNG consumption is expected to increase by over 14 million metric tones to 101 million tones in 2025…
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State. Iran, one Trump's primary targets during his first tenure…
Canadian, WTI Crude Prices to Asia Jump
Prices of Canadian and U.S. West Texas Intermediate crude oil to Asia jumped after shipping costs rallied on concerns that wider U.S. sanctions on the Russian fleet are tightening ship availability, trade sources said on Tuesday.Asian refiners face a margin squeeze as their costs of crude and shipping have spiked since Washington earlier this month imposed sweeping new sanctions targeting Russian insurers, tankers and oil producers.Discounts…
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State. Iran, one Trump's primary targets during his first tenure…
Japan's JERA plans on expanding US LNG purchases in order to diversify the energy supply
JERA, Japan's largest LNG buyer, is planning to increase its purchases from the United States in order to diversify their supply and meet the demand growth spurred on by data centres and AI. U.S. president Donald Trump promised to unleash the U.S. industry of energy to boost production and threatened the EU if it did not purchase more gas. This could mean that JERA would have to compete against other buyers to get more U.S. natural gas.
India is likely to increase its purchases of US gas and oil following Trump's announcement
After President Donald Trump announced that he would increase U.S. production of oil and natural gas, India will likely increase its purchase of U.S. gas and oil. The Indian Oil Minister Hardeep Singh Puri said to reporters at the sidelines of an event that there was a chance of a larger energy purchase between India & U.S. The arrival of more U.S. Energy on the market will be welcomed. Trump said on Monday that he will declare an energy emergency immediately…
SLB increases dividend and buybacks shares after beating quarterly profit targets
SLB increased its quarterly dividend on Friday and boosted its share repurchases after the oilfield services provider reported a better-than expected fourth quarter profit, helped by higher demand of its drilling technology and equipment. The company increased its quarterly dividend to 3.6% and announced that it had begun an accelerated share purchase program of $2.3 billion worth of stock. SLB's Chief Executive Officer Olivier…
The US sanctions against Russia have caused a spike in global diesel prices
Analysts and LSEG data indicate that global diesel prices and refinery margins increased following the latest round U.S. sanctions against Russia's oil market on the expectation of tightening supplies. On Jan. 10, the United States imposed their toughest sanctions yet against Russian producers and tanks to reduce the revenue of the No. 2 oil exporter in world. The United States used the revenue of Russia's No. 2 oil exporter to fund its war in Ukraine.
Energy Minister: South Korea may buy more US oil and natural gas
South Korea wants to import more U.S. gas and oil in order to diversify its energy sources, and maintain stable supplies in light of the tensions in the Middle East. He said that the government might need to increase its support for non-Middle East crude oil purchases. His comments coincide with the announcement that Donald Trump, the U.S. president-elect who will take office on January 20, has pledged to impose 10% tariffs on all global imports. He has also said that the European Union must increase its U.S.
VLCC Rates Spike as US Sanctions Bite
Supertanker freight rates jumped after the U.S. expanded sanctions on Russia's oil industry, sending traders rushing to book vessels to ship supply from other countries to China and India, shipbrokers and traders said.Chinese and Indian refiners are seeking alternative fuel supplies as they adapt to severe new U.S. sanctions on Russian producers and tankers designed to curb the world No. 2 oil exporter's revenue due to its war in Ukraine.Many of the newly-targeted vessels…
Top five contrarian commodity scenarios for 2025: Russell
In 2025 it may be worth being a contrarian, since the year ahead could be one of most volatile ever, especially in commodities. Donald Trump is back, threatening to disrupt the global trade flow with a wall on imports. He will be able to do little this time, with a Republican-led Congress. China is the second largest economy in the world and the biggest buyer of commodities. The future of global energy transition is much more uncertain because of Trump's climate change doubt…
Top five contrarian commodity scenarios for 2025: Russell
In 2025 it may be worth being a contrarian, since the year ahead could be one of most volatile ever, especially in commodities. Donald Trump is back, threatening to disrupt the global trade flow with a wall on imports. He will be able to do little this time, with a Republican-led Congress. China is the second largest economy in the world and the biggest buyer of commodities. The future of global energy transition is much more…
