Indonesia allocates 15,65 million kilolitres for biodiesel in 2026
An official from the Indonesia Energy and Mineral Resources Ministry told us on Tuesday that the Ministry had signed a decree allowing it to allocate 15.65 million kilograms of palm biodiesel in order to meet its fuel blend mandate by 2026. 7,45 million KL of the total allocation has been allocated for public service obligations (PSO), covering sectors like public transportation, whose sales are subsidised by the palm oil fund.
ComBio Brazil expects revenues to reach $430 million as corn ethanol customers increase production
Commercial director Ricardo Blandy, Brazil's biggest supplier of renewable thermal power for industrial clients, said that ComBio expects its revenue to triple to?about $430 million in five years due to the growing demand from corn ethanol producers. Blandy stated that there are?25 corn-ethanol plants in Brazil. Another 18 are currently under construction, and another 19 are still in the planning stages. Biofuel production is increasing, and biomass supply has become tighter.
Bousso: The geopolitical premium of oil in the ROI vanished by 2025 and is unlikely to return.
In 2025, the global oil markets were faced with multiple black swans events - such as the Israel-Iran War and Ukrainian attacks on Russian refiners. Yet they were barely affected. In an era when energy is abundant, this calm could be the new norm. The year 2025, by any measure, was chaotic in geopolitics, with President Donald Trump's return to his White House and his flurry of trade, diplomatic and policy initiatives dominating the year.
Bousso: The geopolitical premium of oil in the ROI vanished by 2025 and is unlikely to return.
In 2025, the global oil markets were faced with multiple black swans events - such as the Israel-Iran War and Ukrainian attacks on Russian refineries - but they were not fazed. In an age of abundant energy, this calm could be the new norm. The year 2025 will be remembered as a geopolitical chaos, due to President Donald Trump's return in January, and his frenzy of trade, policy and diplomatic initiatives. On June 12, Israel bombed Iranian military, government, and nuclear sites.
Minister says South Korea's petrochemical companies are on track to reduce their output by up to 3.7 million tons.
South Korea's petrochemical companies are on course to reduce up to 3.7 metric tons of production under a voluntary program to overhaul the oversupplied industry and improve flagging profits margins, said the?industry? minister on Monday. Kim Jung-kwan, Minister of Industry, said that 16 companies including major naphtha producers had submitted blueprints before the year-end deadline, as requested by the authorities. These blueprints would form the basis for a 'quick way to restructure industry.
MPOC expects crude palm oil to trade at between 3,800 and 4,100 Ringgit in January.
The Malaysian Palm Oil Council announced on Friday that the price of crude palm oil is expected to range between 3,800- 4,100 ringgit (932- $1005) during January. This will be due to low production levels in the first quarter and increased demand for the Lunar New Year (Lunar New Year) as well as the Ramadan holidays. Malaysian palm oil exports will rise to 16,2 million metric tonnes in 2026. Production is forecast to fall to 19…
Lachlan Harris, an insider at Santos Australia, is named finance director
Santos announced on Friday that it had appointed Lachlan Harri as its new 'CFO'. The Australian gas producer is currently navigating a period of transition tied to the Barossa, and Pikka project. Sherry Duhe, the former CFO who left the position in October after just a year, was replaced by the new CFO. Analysts pointed out at the time that Duhe's departure left Santos without a clear succession, since she was widely seen as a potential successor to CEO Kevin Gallagher if he chose to step down.
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after BP's?chief executive Meg O'Neill's unexpected departure for the top position at BP. This comes as the Australian 'firm' is trying to deliver key projects on a market that's braced for an oversupply. Analysts say that the oil and gas "producer" is expected to continue with its global strategy of growth, which requires sustained investment in both new assets and continuity within mature fields.
Why US producers are paying attention to Canada's most popular shale play
Executives, analysts, and advisors say that U.S. producers of oil and gas are seeking new drilling territories in Western Canada's Montney Basin, an enormous shale play in a remote area. The basin is already a hub of M&A and may see even more deals in the near future. The United States has become the largest oil producer in the world as a result of extensive drilling on shale deposits over the past 15 years.
BP appoints Woodside's Meg O'Neill to be CEO following Auchincloss' abrupt departure
BP, a major oil and gas company, announced that it has appointed Meg O'Neill as its 'CEO', effective April 1, after abruptly removing 'Murray' Auchincloss. O'Neill is the first CEO to be appointed by BP from outside of the company, and the first female to lead any of the top five oil companies in the world. Her unexpected appointment shows that the British oil giant is looking to improve its business, after years of lagging behind its competitors such as Exxon?Mobil?and Shell?.
EnQuest, a UK-based company, expects to exceed its production target for 2025
EnQuest, a North Sea oil producer, said on Wednesday that it expected to reach or even exceed its forecasted output of 40,000-45,000 barrels equivalents per day (boepd), as it increased expansion in Southeast Asia. Along with other energy companies, the company is investing in gas production and exploration in the region in order to meet increasing power demands from a growing population and an increase in data centres.
Canada announces new rules for reducing oil and gas methane emission
Canada has announced rules that have been promised for years to reduce methane emissions in the country's oil & gas sector. The regulations set out a way?for?Canada, the fourth largest oil producer in the world to reduce its greenhouse gas emissions by 75% from 2014 levels by the year 2035. The new rules fulfill the promise made by Mark Carney, Prime Minister of Canada to strengthen Canada's methane regulations.
ReNew signs pact to build solar project of 150 MW in India with Google
India's ReNew Energy Global announced on Tuesday that it had signed a long-term deal with Alphabet to develop a 150-megawatt project in the western Indian state of Rajasthan. The agreement is in line Google's aim to be entirely carbon-free by 2030. India also wants to double the capacity of its non-fossil fuel power generation to 500 gigawatts before the end decade. Other?U.S. Other?U.S. tech giants…
FT reports that US investor Kimmeridge has offered $6 billion to gas driller Ascent Resources
The Financial Times reported that activist investment firm Kimmeridge Energy Management had made a $6 billion bid to buy Ascent Resources. FT reported that the bid was the latest attempt to stop Energy & Minerals Group (EMG), a private equity firm backing Ascent, from selling a stake of more than 30% in the company to another fund, valuing Ascent as high as $5.5 billion. Ben Dell, managing partner of Kimmeridge in the United States…
DL Chemical plans to shut down Yeochun NCC No. 1 plant under restructuring
DL Chemical, a South Korean petrochemical firm, announced on?Monday the closure of?Yeochun NCC Co.'s No. According to an emailed announcement, the No. 1 plant with a capacity of 900,000.000 metric tonnes should be closed as part of a restructuring plan. Yeochun NCC Co, the third largest ethylene producer in Korea, is a joint venture of DL Chemical with Hanwha Solutions. Local petrochemical companies should submit a restructuring plan by the end of this year to reduce oversupply…
China's crude oil imports in November rose 3.9% due to new import quotas
China's crude throughput increased 3.9% in November according to?data from the statistics bureau on Monday. This was due to a new batch of quotas for crude oil imports by?independent refining companies?to offset maintenance at certain state-owned refineries. The largest oil producer in the world processed 60.83 millions metric tons of crude oil during this month. This is equivalent to 14.86million barrels per day. This was a slight increase from the 14.94 million bpd in October.
Harbour Energy acquires North Sea assets worth $170 million; shares increase 6%
Harbour Energy announced on Friday that it had agreed to purchase all of the subsidiaries of Waldorf Energy Partners and Waldorf Production, which are currently under administration in the UK North Sea, for $170 millions, sending its share price up by nearly 6%. The deal will see Harbour increase its interest in 'its operated Catcher oil field to 90%, and add a non-operated '29.5% interest in the Kraken field.
Carnelian, a buyout firm, raises eyebrows by trying to sell multiple assets in the energy sector.
Carnelian Energy Capital is selling six of its North American oil-and-gas production investments. This comes at a time when private equity firms are under increasing pressure to return more cash to investors and increase their exits. The move, which represents most of Carnelian's oil and gas producing companies, and approximately 40% of its total investments, has raised eyebrows in the industry because traditionally…
Bousso: ROI-Permian will retain US oil crown after peaking even though it has reached its peak
The Permian Basin is set to reach its peak oil production in December. This will be a turning point for the U.S. Shale Boom that has reshaped the global energy markets over the last 15 years. But drilling innovations will ensure that the output of America's most prolific patch of oil will remain stable for many years. In its latest Short-Term Energy Outlook, the U.S. Energy Information Administration reported that the Permian Basin…
Drax plans on converting coal-era power stations into data centres by 2027
Drax Group announced on Thursday that it could convert a part of its power plant in Yorkshire, Northern England, into an data centre by 2027. The land, cooling systems, and transformers were previously used for coal generation. Europe's old coal- and gas-fired plants are in need of a new lease on life. Tech giants like Microsoft and Amazon want to convert them into data centers, using the existing power and water supply, to meet the rise in AI-driven demand for energy.