The Iranian war has re-energized European demand for rooftop solar panels to reduce energy bills
Since the beginning of the Iran War, the demand for rooftop solar systems has risen across Europe as consumers rush to protect themselves from the soaring energy prices caused by the worst global disruption in energy history. The conflict has caused oil, gas, and electricity prices to rise sharply, affecting both companies and consumers. This has increased efforts to reduce exposure?to volatile markets and find cheaper alternatives. Solar power is one of those options.
North Dakota crude production to increase as operators target high oil prices
A state regulator announced Tuesday that North Dakota's crude production is expected to increase in the coming months due to surging oil prices, which are encouraging operators to increase their activity. Operators in North Dakota, the third largest oil producing state, are responding to higher oil prices by?boosting? output from existing wells and holding back on new drilling due to price volatility linked to the Iran War. U.S. crude oil prices were around $93.63 per barrel on Tuesday…
Sakhalin-2 to supply Japan with a large amount of Russian LNG by 2025
Sakhalinskaya Energy, the project operator, said that Japan will purchase 58% of Russia's liquefied natural gas from Sakhalin-2 in 2025. It is also buying oil for the first time since 2012. Japan, along with other G7 nations, has reduced its Russian imports since the beginning of Moscow's war with Ukraine in February 2020, but has retained stakes in several fossil-fuel projects in the country to ensure its energy security. The Japanese Mitsui and Mitsubishi companies jointly own 22.5% of Sakhalin-2…
Report: Greece's electricity grid operator wants to extend the life of lignite plant
A Greek newspaper reported that Greece's IPTO, the power grid operator, wants to keep a lignite plant, which is scheduled to close later this year, open for another year. The company says it will be needed for supplies, given 'the turmoil caused by?the Iran - war,' a Greek paper said. Greece, as part of the European Union's efforts to reduce greenhouse gas emissions by 55% by 2030 has committed to stopping burning lignite by 2028. This is because lignite is the most carbon intensive form of coal.
Eni's Vaar Energi plans a boost in oil production from Arctic Goliat
Vaar Energi, a subsidiary of Italy's Eni and a Norwegian company, announced on Wednesday that it plans to increase crude production 'from its Arctic Goliat 'oilfield with'minority stakeholder Equinor. Vaar Energi, a subsidiary of Italy's Eni, announced on Wednesday that it plans to boost crude production?from its Arctic Goliat?oilfield along?with?minority stakeholder Equinor. The project will create a pipeline to connect the nearby Snoehvit Gas Facility, which will allow large quantities of natural gas from Goliat to be removed.
Grid operators claim that Britain will still have enough electricity this summer, despite the turmoil in Iran
The network operators in Britain said that the country will have enough electricity and gas this summer, despite a decline in domestic gas production, and fears over Middle East energy supplies. The conflict in the Middle East disrupted energy shipping through the Strait of Hormuz, and Qatari LNG production was halted. This accounts for about a fifth of the global supply of liquefied gas. National Gas' Glenn Bryn-Jacobsen said that the Gas Summer Outlook 2026 showed the market could meet the demand for gas this summer.
BP will buy three offshore Namibian block as the shift towards oil and gas intensifies
BP has agreed to purchase an operating 'interest' in three offshore exploration -blocks in Namibia, from Canada-based Eco Atlantic Oil & Gas. This is part of its strategy to expand its upstream portfolio. Eco Atlantic, a Canadian company, said that BP would pay Eco Atlantic $2.7M in cash to acquire 60% of the interest in three?petroleum exploring licences. Oil major has shifted its focus to oil and natural gas following an ill-fated venture into renewables.
TotalEnergies finds hydrocarbons near existing production sites in Congo
PARIS, '13 April - French oil giant TotalEnergies announced on Monday that it had found hydrocarbons in a drilling campaign to expand the Moho field off the coast of Republic of Congo. The well found a column of gas and oil measuring 160 metres. Total stated that the Moho G and Moho H discoveries represent recoverable resources close to 100,000,000 barrels. Oil majors are re-engaging in West Africa to replenish resources lost in other fields. TotalEnergies’?current production?
Eni, an Italian company, has discovered 2 trillion cubic feet (or 2 trillion cubic meters) of gas off the coast of Egypt
Eni announced on Tuesday that it had made a discovery of 'gas and condensate' offshore Egypt after drilling the Denise W-1 exploratory well in the Temsah Concession, located in the Eastern Mediterranean. According to preliminary estimates, there are approximately 2 trillion cubic feet (or barrels) of gas in place initially and 130 millions (or barrels) of condensate. Eni said that the discovery would help it to "support Egypt's goals of increasing gas reserves and?production". Egypt's domestic gas production has declined in recent years, and it is now?suffering?
Turkish hydroelectric output reaches a peak of 40%, which eases war-related pressures on energy
Official data show that the power produced by Turkey's hydroelectric plants in 'March' nearly doubled compared to a year earlier, to 40%. Heavy rainfall also helped ease the pressure on one of Europe's biggest natural gas importers' energy bills. According to the market regulator EPDK, Turkey imported 16 billion cubic meters of natural gas last year, which is more than one-quarter. The largest part of Turkey's energy import bill last year was made up by natural gas and crude oil. The war in the Middle East has caused a price spike for natural gas and oil.
Gas industry in Spain calls for better remuneration proposals
Sedigas, the Spanish gas industry's body, called on Monday for "significant" alterations to proposed remuneration regulations for gas-related businesses through 2032. They emphasized the need to ensure "a reasonable and sufficient remuneration structure". The energy and competition watchdog CNMC in the country released two sets of proposals late Thursday: one for remuneration rules of gas-related businesses through 2032, and another?for distribution operations. The first affects primarily grid operator Enagas which manages the country’s trunk gas network.
Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Ex-Tropical cyclone Narelle, which has been affecting Australia's Queensland state and Northern Territory since March 20, further affected production at two of Australia’s largest liquefied natural gas plants. The storm system was waning in the country's northwestern region. Narelle, which has been sweeping across Australia's Queensland and Northern Territory state since it made landfall on March 20 as a Category 4 tropical cyclone, hit Western Australia on Friday, affecting LNG plant run by Woodside and Chevron.
Russia's Threatens to Divert LNG Cargo From Europe, Options Limited
Russia's threat to halt liquefied natural gas (LNG) deliveries to Europe and divert cargoes to Asia would prove difficult to achieve because of its long-term contracts and need for more Arctic-class tankers, industry analysts said.President Vladimir Putin said in a TV interview early in March that Russia could stop gas supplies to Europe with immediate effect and seek longer-term commitments from other buyers.The impact of the U.S.-Israeli war on Iran has caused a surge in gas prices…
Algeria and Spain strengthen their energy partnership
Spain and Algeria have agreed to strengthen their partnership in energy, said Spanish Foreign Minister Jose Manuel Albares on Thursday after meeting Algerian president?Abdelmadjid Tebboune. Albares did not say whether Algeria agreed to increase the amount of gas it supplies to Spain. Iran's conflict has thrown energy markets into chaos and caused a rise in volatility. This has led some people to seek gas elsewhere. The CEO of Spanish utility 'Naturgy, Francisco Reynes…
Market operator: Australia gas supply crunch will be delayed until 2030
The feared gas shortage in Australia's east has been delayed by one year, to 2030. This is due to the coal power extension, falling consumption, and rapid battery uptake. "Practical actions make a difference." "More renewables, batteries and sensible gas policies improve energy security and put Australia in a better position," said Minister for Climate Change and Energy Chris Bowen in a press release. The federal government, citing a shortage of gas, told Queensland LNG exporters in December to reserve 25%?of their gas to be used domestically starting 2027.
Gulf stocks mixed after Iran denies US talks, Qatar continues decline
Gulf stock markets were unable to find direction during early trading Tuesday. Qatar's fall was exacerbated by mixed messages about U.S.Iran talks following President Donald Trump's decision to delay strikes on Iran's energy infrastructure. Trump made his decision on Monday based on what he called productive discussions with Iranian officials. Iran denied, however, that it had held negotiations with the U.S. Semafor, citing an official from the United States, reported on Monday that the U.S. would continue to strike Iran.
Poland Invites Offers for New LNG Terminal Ahead of Investing in Second Regasification Vessel
Polish gas pipeline operator Gaz-System said on Friday it has opened registration for parties interested in booking long-term capacity for regasified LNG as it decides whether to invest in a second regasification vessel in Gdansk.Gaz-System is building a liquefied natural gas terminal in the Polish port with a regasification capacity of 6.1 billion cubic meters (bcm) of gas per year.
Qatar Offers LNG Slots for Offloading, Storage, Regasification at Zeebrugge Terminal
QatarEnergy has offered up five slots for unloading, storage and regasification of liquefied natural gas at Belgium's Zeebrugge terminal for the month of April, three industry sources said on Wednesday, indicating its facilities could remain shut down for a longer period.Qatar, the world's second-largest exporter of LNG, announced a production halt at its 77 million ton-per-annum facility earlier this month and declared force majeure on LNG shipments because of the intensifying conflict in the Middle East.QatarEnergy did not immediately respond to Reuters' request
Sakhalin-1, a Russian oil refinery, will reduce output by 10% by 2025
The U.S. abandoned the 'Sakhalin-1' project in Russia, which was a major oil production facility. ExxonMobil's major ExxonMobil continued to decline last year. It fell by 10.3% due to planned maintenance. The production volume, which is expected to fall 9.8% by 2024, was not provided. Exxon had to take a $4.6bn impairment charge in April 2022 on its 30% operator?share in the project offshore Russia's Pacific?coast. This was due to the fact that Exxon left the Russian market after the start of the conflict with Ukraine in February 2022.
Peru taps its fuel reserves to fight worst energy crisis in 20 years
Denisse Miralles, the Prime Minister, said that 'the Peruvian government will use its fuel reserves to safeguard the domestic supply.' This comes after a gas pipeline rupture triggered what has been described as the worst energy crisis for 20 years. She added that the government will encourage public and private sector employees to work remotely, while converting schools to online education. Emergency measures were taken after the suspension of natural gas exports by Peru on Thursday…
