Azerbaijan’s oil production in January and February is down 6.3% on an annual basis
Parviz Shahbazov, the Energy Minister of Azerbaijan, said that the oil production in the first two months fell 6.3% compared to the previous year. According to the Minister, oil exports between January and February dropped from 3.9 millions tonnes to 3.7 in 2024. Azerbaijan’s oil production is on a downward trend since its peak in 2010. Minister also stated that the natural gas exports into Europe dropped to 1.9 billion cube metres (bcm), from 2.1 bcm, a year ago.
Exports of Israeli natural gas to Egypt and Jordan will increase by 13.4% in 2024
Israel's Energy Ministry said that despite Israel's conflict with the Palestinian militant group Hamas, natural gas exports from Israel to Egypt and Jordan increased by 13.4% between 2024 and 2025. Eli Cohen, Minister of Energy, said that the jump "demonstrates Israel's natural-gas industry as a strategic asset contributing to regional security and stability". Israel has committed to providing natural gas to Europe which is diversifying its energy sources away from Russia after the invasion of Ukraine.
China's tariff retaliation is aimed at its modest US energy imports
China is the largest energy importer in the world, but its purchases of US crude oil, LNG and coal are relatively modest. This reduces the impact of Beijing’s Tuesday move to impose retaliatory duties on the imports of U.S. natural gas, LNG, and crude oil. China's Finance Ministry announced that, on February 10, it will impose tariffs of up to 15% on the imports of U.S. crude oil, LNG, and coal, and 10% on some autos and farm equipment. Data from the U.S. Energy Information Administration revealed that Chinese imports of U.S.
Germany builds up LNG import terminals
Germany is expanding its natural gas import options to replace Russian supply, a drive intensified by the latest suspension of Russian flows via Ukraine and U.S. President Donald Trump targeting Europe with liquefied natural gas exports.Plans also include shore-based regasification terminals and facilities to import and produce ammonia and green hydrogen under decarbonization strategies. A synopsis of changes and additions to Germany's energy plans and infrastructure is listed below:MUKRANMukran…
Biden's DoE LNG Export Study Tepid on New Permits
The administration of U.S. President Joe Biden released a long-awaited study on the economic and environmental impacts of liquefied natural gas exports on Tuesday, saying the results underscored the need for a cautious approach to new permits.Biden in January had paused the Department of Energy's approvals of U.S. LNG exports to big consumers in Asia and Europe so that his administration could conduct the review, triggering complaints…
RPT: How Trump's proposed tariffs could affect commodities and energy
Donald Trump, the president-elect of the United States, pledged on Monday to impose tariffs on three of its largest trading partners: Canada Mexico and China. He explained how he would implement his campaign promises which could lead to trade wars. The following commodities and energy sectors may be affected. According to government statistics, Canada will export energy products worth $177.19 billion to the United States by 2023.
What impact Trump's tariffs on commodities and energy might have
President-elect Donald Trump on Monday pledged tariffs on the United States' three largest trading partners - Canada, Mexico and China - detailing how he will implement campaign promises that could trigger trade wars. Canada exported some $177.19 billion in energy products to the United States in 2023, according to government data. Canada's crude imports make up more than a fifth of all the oil that U.S. refineries process. About 70% of imported Canadian barrels go to Midwest U.S.
Azerbaijan's oil production for 9 months down 4.8%, says ministry
Azerbaijan’s oil production fell by 4.8% in the first nine-month period of 2024 to 21.6 millions metric tonnes, down from 22.7million metric tons one year ago, said Energy Minister Parviz Shabazov on Monday. He didn't explain the cause of the decline. Production of oil in Azerbaijan has been declining for several years as the output at Azeri-Chirag-Gunashli complex of offshore oilfields, operated by BP, has passed its peak. Azerbaijan belongs to the OPEC+…
Gazprom increases first-half gas production by 16%
Gazprom, the Russian gas company, announced on Monday that its output of natural gas increased by 16% in the first half of 2024 compared to the same period last year. This continued the recovery after the previous year's record-lows. Gazprom's oil arm Gazprom Neptune is included in the production figures. Gazprom has said that it has benefitted from increasing its share of Sakhalin Energy (which operates the Sakhalin-2 LNG development) to 77.5%…
Gazprom's H1 net profit more than tripled, to $10.9 billion
Gazprom, a gas giant owned by the Kremlin, announced on Thursday that its net income for the first half of this year had more than tripled compared to a year ago. It now stands at more than 10 billion roubles. This is due to increased gas exports as well as cost control. Gazprom suffered a loss of $7 billion, its first since 1999. This was due to a decline in its gas sales to Europe, which used to be its primary market. Famil Sadygov…
US LNG Exports Drop More Than a Third
U.S. liquefied natural gas exports are down by more than a third since governments started imposing lockdowns to stop the spread of the coronavirus.Worldwide gas prices have plunged as lockdowns squeezed energy demand even as strong renewables output boosted supply. Gas prices are more expensive now in the United States than in Europe for the first time in a decade.Buyers in Asia and Europe have already canceled over 20 U.S. LNG cargoes for June and July, and more cancellations are anticipated.Gas flows to U.S.
Azerbaijan's Jan-April Oil Output Flat
Azerbaijan's oil and gas condensate output was flat in January-April at 12.4 million tonnes compared with 12.44 million tonnes in the same period last year, the Energy Ministry said on Thursday.Natural gas output rose to 13.4 billion cubic meters (bcm) in the first four months of 2020 from 11.6 bcm.Azerbaijan exported 10.26 million tonnes of oil in January-April, 9.8 million tonnes of which was oil produced by an international consortium led by BP while 409…
US Nearing Energy Independence
In just a few months, the U.S. will be fully energy independent and by 2030, the country's total primary energy production will outpace primary energy demand by 30 percent.According to the Norwegian market research consultancy Rystad Energy, this milestone follows a strong period of growth in both hydrocarbon and renewable resources."We forecast that the US will have primary energy surplus – and not a deficit – by February or March 2020…
PNG to seek more from Exxon on P'nyang deal than Total's Papua LNG
Papua New Guinea will press Exxon Mobil Corp for "far better" terms on its P'nyang gas project than the government secured in a recent agreement with Total SA for its Papua LNG project, the country's petroleum minister said.The P'nyang field will help feed an expansion of Exxon's PNG LNG plant. If negotiations for the project are protracted, that could delay Exxon's $13 billion plan with Total's Papua LNG to double the country's…
Jereh Builds 10 LNG Fuelling Stations in Russia
Chinese oil and gas company Jereh has announced that it has won a contract to construct 10 new LNG fueling stations in Russia.According to a statement from the company, it won the bid for 10 LNG fueling stations in Russia, which is believed to be the biggest order for LNG fueling within Russian market till now.Jereh is going to provide integrated services for this project covering modular design, procurement, manufacture, as well as commissioning.
Kinder Morgan's $1.75 bln Gas Pipeline Hit with Steel Tariff
U.S. pipeline operator Kinder Morgan Inc will pay a tariff on imported steel used in a $1.75 billion natural gas pipeline project, the U.S. Department of Commerce ruled on Monday, dealing a setback to energy industry efforts to avoid the penalties.The tariff could add up to $80 million to the construction cost of Kinder Morgan's Gulf Coast Express Pipeline, analysts estimated, because about half the project employs some Turkish pipe subject to a 50 percent tariff.
US LNG Opens Floodgates to Europe
The United States has nearly tripled its natural-gas exports to the European Union (EU) since July and signed new licenses seeking to establish American energy as an EU mainstay. US exports of LNG surged following a meeting between Donald Trump and Jean-Claude Juncker in July 2018.In their Joint Statement of 25 July 2018 in Washington D.C., President Juncker and President Trump agreed to strengthen EU-U.S. strategic cooperation with respect to energy.
$13 Bln Papua LNG Project Pushes Ahead
France's Total and its partners signed a long-awaited deal with Papua New Guinea on Tuesday that will allow initial work to start on a $13 billion plan to double the country's liquefied natural gas exports.Developing the Pacific island nation's gas reserves is seen as crucial to its economy as LNG is its biggest export earner, while demand for the fuel is surging globally.Total's partner Oil Search said the agreement would allow…
U.S. Natural Gas Production Sets New Record
According to the U.S. Energy Information Agency (EIA), US natural gas production registered an increase by 10.0 billion cubic feet per day in 2018, noting an 11% rise in comparison to 2017.The development reported was the largest annual increase in production on record, establishing a record high for a second year in a row, it said in a press release.U.S. natural gas production measured as gross withdrawals averaged 101.3 Bcf/d in 2018…
EIA: Azerbaijan Surges in Natural Gas
Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets, the US Energy Information Administration said in its report.The EIA’s report notes that Azerbaijan’s exports of natural gas are poised to become a more significant part of the country’s economy.Azerbaijan produced about 600 billion cubic feet (Bcf) of dry natural gas in 2017 and exported about 210 Bcf…
