French and Spanish operators form joint venture to develop hydrogen pipe
It announced on Thursday that French gas grid operator Natran (a unit of utility Engie) has formed a joint-venture to develop a trans-border hydrogen pipe with French storage operator Terega, and Spain's Enagas. The Barcelona-to-Marseille underwater pipeline, or Barmar, is part of a larger 2.5 billion euro ($2.93 billion) project called H2Med that will link Portugal, Spain, France and Germany by 2030, as the European Union hopes to displace some natural gas use with hydrogen, which does not emit CO2 when combusted.
US lifts restrictions Enterprise Product's ethane exports to China
Enterprise Products Partners said that the U.S. cleared the way for them to resume ethane exports to China. The company also revoked a license restriction put in place only a few weeks ago, when the U.S. - China trade war shifted from tariffs to supply chain issues. After accusing Beijing that it was slowing down shipments of rare Earths, vital for automakers and other industries, the U.S. placed new restrictions on ethane and a broad range of other exports to China.
India to increase energy security by adding new strategic reserves of oil
The head of the company responsible for strategic reserves, who spoke on Wednesday, said that India is looking at building three new strategic oil reserve to increase its emergency stockpile as well as strengthen energy security. India is the third largest oil consumer and importer in the world. It imports over 80% of the oil it consumes and constantly diversifies its crude sources so as to minimize the impact of geopolitical crisis on its oil procurement.
US energy company EQT settles lawsuit for $167.5 Million
According to a filing made by plaintiffs in federal court on Thursday, U.S. Energy Company EQT has agreed to pay $167.5 Million to settle a lawsuit brought by investors who alleged that EQT had overstated its benefits from its $6.7 Billion merger with Rice Energy. Officials from EQT did not respond to a request for comment immediately. The case includes the Eastern Atlantic States Carpenters Annuity Fund (the plaintiff), the Eastern Atlantic States Carpenters Pension Fund (the defendant) and the Cambridge Retirement System.
Eni CEO: Oil markets do not expect closure of the Hormuz Strait
Eni's CEO, Eni of Italy, said that oil markets were signaling an unlikely escalation of tensions between Israel and Iran or the closing of the Strait of Hormuz. The Strait of Oman, located between Oman and Iran, connects the Gulf of Oman in the north with the Gulf of Oman in the south. It also links the Arabian Sea to the east. Claudio Descalzi, Eni, said at an energy conference that the markets had not yet pushed crude oil prices above $80 or $90 per barrel…
Canada's TC energy erases $199 Million damages in Delaware appeal against Columbia takeover
Delaware's top court on Tuesday overturned a judge’s order requiring Canadian pipe-line operator TC Energy, which purchased Columbia Pipeline Group for $13 billion in 2016, to pay damages of $199.2 millions. Columbia shareholders brought the case against TC Energy, claiming that it was responsible for lowering the takeover price from $26 to $25.50. This allowed former Columbia Chief Executive Robert Skaggs to collect large payments to change control known as golden parachute.
Keyera acquires Plains' Canadian Natural Gas Liquids business for $3.77 Billion
Keyera Corp announced on Tuesday that it had agreed to purchase substantially all of Plains Canada's Canadian natural gas liquids businesses for C$5,15 billion ($3,77 billion) cash. The Canadian-based pipeline operator stated that the purchase expands Keyera’s position by bringing a natural gas liquids (NGL) corridor from Western Canada to Eastern Canada under Canadian ownership and brings key NGL infrastructure. Keyera, a Canadian energy infrastructure company…
As tensions in the Middle East rise, traders are betting on oil at $80 US dollars.
The most West Texas Intermediate crude oil call options of $80 have been traded since January. Traders expect prices to rise further after Israeli airstrikes against Iran raised fears about a wider Middle East war. Call options give the holder the right to purchase a futures contract for the price and date specified. A rise in volume can be used to gauge the market sentiment. CME Group data shows that on Friday, 33,411 contracts worth $80 for WTI crude oil call options expiring in August 2025 were traded.
Wind opponents sue Trump Administration to block New York wind projects
Fishing companies, as well as offshore wind opponents, filed a suit on Tuesday to challenge the Trump administration’s decision to reverse its course and allow construction on Empire Wind to resume. Empire Wind is a $5 billion project for a wind farm off New York’s coast. Protect Our Coast New Jersey and Clean Ocean Action along with ACK for Whales, 12 fishing industry participants, filed a lawsuit in Trenton federal court, New Jersey to reinstate a stop-work order Interior Secretary Doug Burgum had issued in April…
US terminal operator warns that its ethane and butane exports could fall
Enterprise Products Partners said on Thursday that the U.S. Department of Commerce's requirement for it to apply for a licence to export to China could hurt its ethane-and-butane exports. Reports on Wednesday said that the United States had ordered a wide range of companies to cease shipping products, such as ethane or butane, without a permit to China and revoked permits already granted to some suppliers. The Bureau of Industry and Security (an…
Ukraine Approves Gas Import Via Transbalkan Pipeline To Avoid High Transit Fees
Ukraine's energy regulator has approved a gas import mechanism that will avoid high transit fees when supplying gas through the Transbalkan pipeline from Greece to Ukraine, the Ukrainian energy ministry said on Tuesday.Ukraine has faced a serious gas shortage since a series of devastating Russian missile strikes this year, which significantly reduced domestic gas production.Ukraine now imports gas via Slovakia and Hungary, but does not use the southern route because of its higher transit tariffs…
Vopak is confident that it can advance Australia LNG import terminal following state overhaul of laws
After laws passed to alleviate supply shortages, Dutch tank storage company Vopak stated on Wednesday that it is confident of advancing the proposed liquefied gas import terminal (LNG) in Victoria, Australia’s largest gas-consuming State. The Victorian Energy Terminal proposed by Vopak in Port Phillip Bay, is one of four across southeast states that could meet the domestic gas demand. Regulators warn there may be shortages starting as early as 2027. Environmental concerns and regulatory obstacles have slowed down the progress of these projects.
Last-ditch lobbying campaign aims to save Biden’s clean-energy tax credit
Trade groups in the U.S. Energy Industry have launched a last minute lobbying campaign to urge Congress to spare former President Joe Biden’s clean energy tax credit from being cut out of the Republican budget plan. The House Ways and Means Committee proposed on Monday that several lucrative subsidies in Biden's signature climate legislation, the Inflation Reduction Act, be phased out or cancelled. Several subsidies related to solar and wind power, hydrogen and other technologies that reduce greenhouse gas emissions are on the table.
Texas Pacific Land misses its core profit forecast for the first quarter due to lower oil prices
Texas Pacific Land, a land and royalty company focused on the Permian region, missed Wall Street's expectations for its first-quarter core profits on Wednesday as lower oil prices offset increased production. Brent crude futures dropped on average by a year in the first quarter on fears that President Donald Trump’s trade policy will slow economies worldwide and slash demand for energy, while OPEC+ increases supply. The Trump administration's tariffs have led to macroeconomic insecurity, which has caused oil and gas producers to cut production.
MPLX reports Q1 profits rise on higher volume, but expects minimal tariff impact
MPLX, a U.S. midstream firm, reported on Tuesday a quarterly profit increase aided by higher volumes and transport rates. It also said that it expected minimal impact of tariffs on its operation. Maryann Mannen, CEO of MPLX, said that tariffs have a minimal impact at this point. The U.S. Energy Sector is bracing itself for the possible fallout from President Donald Trump's sweeping trade tariffs, and an intense war of words with China. This could affect oil and gas production and demand.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Bollore has said that it will not appeal the decisions of French market watchdogs on buyout offers. Elis announced a first-quarter revenue of 1.13 billion dollars and confirmed its outlook for 2025. GTT purchased Danelec for a total of 194 million Euros. The transaction is expected to be completed in the second half 2025. Philips…
EOG Resources exceeds profit expectations, reduces capital expenditure plan due to tariff uncertainty
EOG Resources posted a first-quarter profit that was higher than expected on Thursday. The company enjoyed higher natural gas production and prices, but cut its capital spending plan due to tariff uncertainty. The company reported that the benchmark price of natural gas for the third quarter increased by 63.4% over the previous year to $3.66/Mcf, while the total quarterly production increased 4.8% to reach 98.1 million barrels equivalent oil (MMBoe). The average natural gas price has been rising over the last few quarters.
Expand Energy exceeds its quarterly profit expectations and expects minimal tariff impact
Expand Energy, the top U.S. producer of natural gas, beat analysts' expectations for first-quarter profits on Tuesday. This was due to higher natural gas production and prices, as well as a signal that tariffs will have a minimal impact in the near future. In extended trading, shares were up about 1 percent at $108.50. The average natural gas price has been rising over the last few quarters. On March 10, it reached a record high of two years, supported by record flows into LNG export facilities as well as concerns about supply leading up to summer.
Targa Resources announces higher Q1 core profits on strength of North Dakota assets
Targa Resources, a pipeline operator, reported on Thursday a higher adjusted core profit for the first quarter. This was due to its Badlands operations located in North Dakota as well as the fact that higher NGL prices were offset by service fees and higher NGL volumes. Targa distributes natural gas and NGLs to key markets via its network of gathering assets and processing assets located across the U.S. These assets can be found in the Permian basin, Bakken Shale and Barnett Shale as well as Eagle Ford Shale.
EQT will spend less and produce more US natgas by 2025
EQT Energy, the second largest natural gas producer in the United States, will reduce its capital expenditure but increase energy production by 2025. Range Resources, on their part, said they would keep both output and spending relatively constant from 2024. Companies released their first quarter earnings reports and spending plans on Tuesday. The U.S. Gas Prices are forecast to increase in 2025. This year, companies will likely pull out record amounts of gas.
