Australia now offers three new offshore wind licenses
The government announced on Friday that Australia had offered offshore wind licenses for projects off the coast of Western Australia's southern coast. These projects could bring 4 gigawatts (GW) of clean energy to the state's isolated power system. The offer comes after several other offshore wind project on the east coast Australia have been pulled in the last 18 months, slowing down the sector's progress.
Inpex is working to advance Indonesia's Abadi LNG Project in order to meet the government's request
Takayuki ueda, CEO of Inpex Japan, said that the company is working hard to accelerate the start-up of the Abadi project to Indonesia in order to "meet" the government's request for speed. Western companies have shown a "strong interest" to purchase liquefied gas. Inpex will benefit from the long-delayed project worth $20 billion, which is expected to produce up 9.5 million tons of LNG per year.
Sources say China will offer LNG futures by next month.
People with knowledge of the matter said that China will offer domestically listed, yuan denominated liquefied gas (LNG), futures contracts by the end of next month. This would reduce importers' reliance on the West to hedge against price movements. A person who declined to be named as they weren't authorised to talk to the media said that the?derivative? product would be listed at the Shanghai Futures Exchange.
EDP CEO warns EU about lost urgency in energy security and renewables push
The European Union has lost its sense of urgency in addressing energy security. Bureaucracy is still preventing the bloc to reduce costly energy imports and slowing down renewable energy projects. Miguel Stilwell d'Andrade (CEO of one of Europe's biggest renewable power producers) told reporters that companies are struggling to build enough wind and solar assets to replace imported fossil energy sources.
Engie signs first-ever biomethane deal with Pepsi UK
Engie announced on Wednesday that it had won a 10-year contract to supply biomethane to PepsiCo UK. This is the first?deal of its kind between a biomethane manufacturer and a?food?industry?player in Britain. The utility company said that PepsiCo UK would buy 60 gigawatt-hours of biomethane per year from Engie’s newly built anaerobic digester in Northern England.
EDP CEO Warns EU on Lost Urgency for Energy Security
Four years after the start of the Ukraine war, the European Union has lost the sense of urgency needed to strengthen its energy security, with bureaucracy still slowing renewable projects and preventing the bloc from cutting costly energy imports, the head of Portuguese energy group EDP said.Miguel Stilwell d’Andrade, CEO of one of Europe’s largest renewable power producers…
China's crude and gas production, refinery throughput in 2025 will reach new heights
Government data released on Monday showed that China's crude oil production and refinery throughput will both reach new highs in 2025, with crude oil growth of 1.5% and 4.1% respectively. National Bureau of Statistics reported that the world's second-largest oil consumer will process 737.59 metric tons of crude oil in 2025. Calculations…
MOL, the Hungarian company, could soon sign a first deal to purchase a stake in Serbian NIS
Peter Szijjarto, the Hungarian foreign minister, said that the Hungarian oil company MOL will sign the first important deal in its negotiations to purchase a majority stake of the Serbian oil company NIS owned by Russia in the next few days. After meeting with the Serbian energy minister in Belgrade, Szijjarto gave a briefing saying…
Masdar and EPCG in Montenegro to explore a joint venture for renewables
Montenegro’s state utility EPCG, and United Arab Emirates’ state-owned Masdar will explore establishing a joint venture to develop large-scale renewable energy projects in the Balkans. The ministry stated that the potential partnership would focus on projects in solar power, wind, hydropower and battery storage, as well as hybrid systems.
Toda begins commercial operation of Japan’s first floating windfarm
Toda Construction announced on Monday that their consortium had started 'commercial operations' at the Goto offshore?wind?farm located in Nagasaki,?southern?Japan. This marks the country’s first commercial floating?wind project. The floating wind farm, which has a capacity of 16.8 megawatts (MW), is the first facility to be certified by a new law enacted by the land and industry ministries to promote the sector.
Venezuelan oil reserves: No quick fixes
Even if U.S. Oil Majors invest the billions that President Donald Trump announced just hours after he took office, Venezuela's crude production is unlikely to increase significantly for many years. Venezuela may have the largest oil reserves in the world, but its production has dropped?over the last decade due to a lack investment by foreign firms.
What just happened? Ten charts that will help you understand the market in 2025
The past year will not be forgotten soon. The conventional wisdom about investor behavior and economics was often challenged in 2025 as technology, energy, and geopolitics influenced markets in unexpected ways. Here are ten charts that explain what happened in the year 2025, and what this might mean for 2019. Donald?Trump’s "America First " agenda was a key driver of market growth in 2025…
Saipem awarded $425 million contract to develop Turkey's largest offshore gas field
Italian engineering group Saipem won a $425-million contract to continue the development of Turkey’s largest offshore natural gas field. The contract, awarded by Turkish Petroleum OTC covers the third phase in a project for the development of the Sakarya Field, with a focus on the construction three additional?pipelines, totaling around 153 km along with subsea structures.
What just happened? Ten charts that will help you understand the market in 2025
The past year will not be forgotten soon. The conventional wisdom about investor behavior and economics was often challenged in 2025 as technology, energy, and geopolitics influenced markets in unexpected ways. Here are 10 charts to help you understand what happened in the year 2025, and what that might mean for 2019. Donald Trump's?America First?
Orlen, Grupa WB Collaborate to Improve Maritime Infrastructure Security
State-controlled Polish refiner Orlen and private defence technology company Grupa WB have agreed to work together to improve the security of critical infrastructure, Orlen said on Tuesday.The Baltic Sea region is on high alert following power cable, telecom link and gas pipeline outages since Russia invaded Ukraine in 2022.Under an agreement the two companies signed, they will cooperate to ensure energy securit
SSE's Transmission arm secures £1.34 billion UK-backed facility to Scotland power grid
SSEN Transmission, which is majority owned by SSE Plc has secured a?1 billion pound ($1.34billion)?12 year?bank facility to support major grid upgrades in Scotland, said the power company on Friday. The UK has set a goal to decarbonise the power sector largely by 2030. This will require "many more renewable energy plants, such as wind and solar," and a "huge increase" in grid infrastructure.
Japan will increase public funding for nuclear power renewal
Japan has announced plans to increase public funding for its crippled nucleopower sector. This is essential, say experts, to kick-start an industry that was previously financed by utilities owned by shareholders. Japan closed all 54 reactors in the wake of the 2011 Fukushima nuclear disaster. The public was concerned about safety standards and shut them down.
Japan's JERA signss LNG sales agreement with Hokkaido Gas
JERA, Japan's largest power generator, has signed an agreement to sell and buy liquefied gas with Hokkaido Gas. The deal will see JERA supplying two-to three LNG cargoes per year for seven years starting in 2027. JERA will deliver 130,000-200,000 metric tonnes of LNG per year, delivered ex ship, under the agreement. It said that the deal would strengthen Japan's energy security…
Japanese companies to gain more control over LNG joint ventures with state-backed groups
The industry ministry announced on Tuesday that Japanese companies would gain more control over JOGMEC-backed liquefied natural gas joint ventures and recover their investments faster as part of measures aimed to strengthen the nation's security in energy. The Ministry of Economy, Trade and Industry told a committee of resource and fuel policy it would encourage Japanese companies to invest in LNG.
Japan wants to give partners of state entities more flexibility to secure LNG supplies
The industry ministry announced on Tuesday that Japanese companies would be able to exercise more control over JOGMEC-backed liquefied gas joint ventures and also recover their investment faster. At a meeting of the committee on fuel and resource policy, the Ministry of Economy, Trade and Industry announced that it would take steps to encourage Japanese firms to invest in LNG projects.