EUROPE GAS prices extend gains amid LNG worries and colder weather
The European and British wholesale prices of gas extended their gains from the day before, due to colder weather forecasts. They also increased in order to maintain competitive pricing for LNG deliveries with Asia. LSEG data show that the March contract for the Dutch TTF hub rose 0.80 euros…
Orlen's quarterly EBITDA in Poland increases 73.8% year-on-year
Orlen, a Polish energy company, reported Thursday a 73.8% increase in earnings before interest taxes, depreciation, and amortization. This was slightly higher than analysts' expectations of 11,11 billion. The strong performance in the upstream and gas segment drove this.
Gas prices continue to drop in Europe amid healthy supplies
The wholesale gas prices in the Netherlands and Britain continued to drop on Wednesday morning, amid a comfortable supply situation and the prospect that European storage targets will be relaxed. The benchmark contract for the Dutch TTF hub at the front-month was 0.94 euros lower…
Naftogaz: Norway will finance Ukrainian gas purchases
Norway will finance Ukrainian purchases of natural gas from its country, Ukraine's Naftogaz said on Tuesday. This comes against a backdrop of an increase in Ukrainian imports, as the war between Russia is affecting the energy system of the country. The aid is part of an overall 380 million euro package ($400 million)…
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…
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…
EUROPE GAS - Prices stable amid ample supply and milder weather
The European and British gas contract prices were mostly unchanged on Friday, despite the milder weather forecast. Supplies from Norway and LNG are also steady. There is still uncertainty about future Russian gas supplies in the event of a peace agreement with Ukraine.
Aker BP's top shareholder claims that the company has opportunities for acquisition.
Aker BP is a Norwegian oil exploration and production firm that was formed through a series mergers and purchases in the past decade. Its top shareholder stated on Friday that there are opportunities to consolidate further on Norway's Continental Shelf. Aker BP is aiming to increase its production to over 500…
Trump announces that the US will increase its military sales to India and eventually provide F-35 Jets
Donald Trump, the U.S. president, said that the United States would increase its military sales to India beginning in 2025. It will also eventually provide F-35 jet fighters. "We will increase military sales to India many billions dollars." Trump told reporters…
Equinor's trading arm and the French energy regulator fined Equinor $12.5 million
The French energy regulator CRE fined Equinor of Norway and its trading subsidiary Danske Commodities 12 million euros ($12.5million) for violating wholesale gas market regulations. The Norwegian group announced that Equinor, Danske and the other companies fined 4 and 8 millions euros…
Norway Oil Industry expects record investments in the coming year
A survey by the Norwegian National Statistics Office (SSB) on Thursday showed that Norwegian oil and natural gas investments will surpass 2024's record levels this year, due to a flurry development projects. In 2025, the country's largest business sector expects…
EU May Need 350 additional LNG Cargoes
Helge Haugane, head of Equinor's gas and power trading, told Bloomberg News that the European Union could need up to 350 additional cargoes this year of liquefied gas (LNG).Haugane stated that in the worst case scenario, European reserves of gas could only be 30% full at the end winter.
Bloomberg News reports that Equinor believes EU may require 350 additional LNG cargoes in order to replenish reserves.
Helge Haugane, head of Equinor's gas and power trading, told Bloomberg News that the European Union could need up to 350 additional cargoes this year of liquefied gas (LNG). Haugane stated that in the worst case scenario, European reserves of gas could only be 30% full at the end winter.
EU rules could overheat a gas market already on fire: Bousso
European policymakers who are worried about rising energy prices have already shot themselves in two feet. Two rules designed to manage the gas market of the region run the risk instead of overheating the market during the summer months, when stocks should be refilled.
Norway will now focus on floating offshore wind turbines instead of the new bottom-fixed tender
Norway said that it will not be offering acreage for the development of bottom-fixed offshore farms when it announces its next tenders. Instead, it will focus on floating wind power options. The government has previously stated that it will offer new areas along the North Sea…
Equinor Q4 profit beats forecast, raises 2030 oil output target
Equinor reported slightly higher profits than expected for the final quarter in 2024. It also increased its oil and natural gas production forecast, and scaled back plans to expand renewable energy capacity. Equinor's poll of 24 analysts predicted that the…
ReconAfrica, a Canadian company, finds oil in the Naingopo onshore well
The chief executive of Canada's Reconnaissance Energy Africa, ReconAfrica, said that the company has discovered oil in its Naingopo exploration well on land and plans to increase drilling in this region. ReconAfrica, which is drilling near the Okavango Delta…
Norway's wealth funds continues to invest in renewables, despite the market downturn
A senior fund official stated on Thursday that Norway's $1.8 billion wealth fund, which is the largest in the world, will continue to invest in renewable assets, despite recent market downturns. The fund will also seek out opportunities both in the public and private markets.
The price of EUROPE GAS has increased by nearly 5% due to the cold weather forecast and supply from Norway
On Wednesday afternoon, Dutch and British wholesale prices for gas rose by nearly 5% due to colder weather forecasts and ongoing power outages in Norway. There was also concern about re-filling storage tanks in the summer. LSEG data shows that the benchmark…
Prices of EUROPE GAS rebound due to a weaker wind and colder weather
The wholesale gas prices in the Netherlands and Britain rebounded Tuesday morning after falling on Monday, due to expected colder weather conditions and reduced wind output. The benchmark contract for the Dutch TTF hub at 0914 GMT was 0.67 euros higher, at 48.59 Euros per Megawatt Hour (MWh)…
