Constellation skips first earnings call since spinoff
Constellation Energy, the U.S.'s largest nuclear power company, missed its quarterly investor call for the first since it went public three years ago. Constellation didn't immediately respond to an inquiry for comment. Analysts were surprised by the lack of a phone call. Constellation, based in Maryland, held a conference call with its management last month. It announced that it was planning to acquire private natural gas and geothermal provider Calpine for $16.4 billion. This is one of the largest deals ever made by the U.S. energy industry.
Breakaway Moldovan Region claims it received gas supplies backed up by Russian loan
Separatist authorities announced on Friday that the pro-Russian Transdniestria region of Moldova, which is a breakaway region, has begun receiving gas under a Moscow loan. Transdniestrian leader Vadim Krsnoselsky stated in a Telegram statement that the Russian loan assistance as well as cooperation with Russia's Ministry of Energy made gas deliveries possible. The Russian gas flow to Transdniestria through Ukraine ceased at the beginning of January after Ukraine refused to renew a transit contract. Earlier this month, the Moldovan Prime minister Dorin Recean stated that his country will not block gas flows to the region.
Brazil resumes hydropower exports to Argentina and Uruguay with the aim of increasing flow
Industry officials have confirmed that Brazil is resuming energy exports from its hydroelectric plants to Argentina and Uruguay due to the excess water they have in their reservoirs as a result of heavy rains. The government also aims to improve the competitiveness of the sales. Brazil's exports were halted for nearly the entire 2024 year due to a disappointing rainy season in Brazil and a severe drought that affected the Amazon. Sales resumed in January after Brazil sent 12 megawatts (aMW) in average of hydropower to both countries, according to CCEE. The Brazilian government is also making adjustments to the way it transfers surplus hydropower to other countries.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a 2-year high of €58 per megawatt-hour (MWh). This has increased concerns over the higher energy costs European firms pay compared to their competitors in the U.S. or China.
Wärtsilä Unveils Next-Generation Engine to Enhance Power Plant Performance and Support Renewable Integration
Wärtsilä launched its next generation 46TS engine, which is designed to balance renewable energy, provide highly efficient baseload power, and can run on sustainable fuels in the future.The Wärtsilä 46TS large-bore engine evolved from a long line of engines, including the Wärtsilä 50 engine platform, an engine that has more than delivered 55 million running hours worldwide since 2008.Using balancing engines to support intermittent renewables is a more viable path towards a net zero power system than a renewables-only pathway. Balancing power can reduce costs…
China's tariff retaliation is aimed at its modest US energy imports
China is the largest energy importer in the world, but its purchases of US crude oil, LNG and coal are relatively modest. This reduces the impact of Beijing’s Tuesday move to impose retaliatory duties on the imports of U.S. natural gas, LNG, and crude oil. China's Finance Ministry announced that, on February 10, it will impose tariffs of up to 15% on the imports of U.S. crude oil, LNG, and coal, and 10% on some autos and farm equipment. Data from the U.S. Energy Information Administration revealed that Chinese imports of U.S. Crude Oil fell 52% in the first eleven months of 2024 compared to the same period a previous year. According to Chinese customs figures, U.S.
Venture Global LNG has almost completed repairs at Calcasieu Pass Power Plant -FERC
A federal inspection report released on Wednesday said that Venture Global LNG may be able to complete power generator repairs before the end of the month. This could pave the way for the completion of the nearly three-year long commissioning process of the Calcasieu Pass LNG Plant. Venture Global has become the most valuable U.S. gas company after its initial public offering, which took place on Thursday. It blamed equipment failures and unreliability in its power generators for its inability deliver cargoes to long-term clients from Calcasieu Pass.
Ukraine looks for investment in Davos to recover from the recession as Trump calls for peace
While U.S. president Donald Trump called for an end to the three-year war and Ukraine's President discussed peacekeeping forces, Ukrainian officials courted private investors to help rebuild their country this week. Oleksiy Sbolev is the first deputy minister of economy. He described a $500-billion reconstruction project that would bring both financial and strategic dividends to Western Investors, while Kyiv intensifies its privatisation plans in order to attract foreign investment. Sobolev, speaking on the sidelines the World Economic Forum annual meeting in New York City, described recent successes with smaller privatisations.
Senate Committee moves Trump's energy & interior nominees to the floor
The U.S. Senate Energy Committee approved Donald Trump's nominees for the U.S. Department of Interior and Energy. The U.S. Senate energy committee approved President Donald Trump's picks to lead the United States on Thursday.The panel approved former North Dakota Governor Doug Burgum as the U.S. Department of Interior's new director and for a national council on energy to be formed to increase oil and gas production.The committee also approved Chris Wright, Energy Department's choice and CEO of oilfield service company Liberty Energy.Next, the full Senate will consider the nominations. The Senate is currently controlled by Trump’s Republican Party.
President Mozambique says that the country is not interested in reviewing terms of LNG projects.
Mozambique's new president stated on Friday that it is not interested in reviewing contract terms with energy giants such as TotalEnergies or ExxonMobil, who plan multi-billion dollar liquefied gas projects for the country. Daniel Chapo, the leader of the long-ruling Frelimo Party, took office on Tuesday after months of protests by opposition groups against his disputed electoral victory. Civil society groups claim that more than 300 people were killed. The government of Southern Africa is relying on energy projects from TotalEnergies and ExxonMobil to revolutionise the country's economy and stabilize its public finances.
Protecting Employees in High-Risk Environments
For any business, ensuring the health and safety of its employees should be the number one priority – what is more, it’s a legal requirement.This is especially true when a company has employees that need to work alone. Whether it be in construction, healthcare or the public sector, lone workers face unique risks and challenges that those working in a team often don’t experience. Therefore, proactive steps must be taken to address them.By implementing clear safety protocols and through using modern alarm systems, companies can greatly enhance the security and well-being of their lone workers.
Hapoalim provides $1.5 billion to Dalia Energy for a new power plant
Dalia Energy, an Israeli company, announced on Thursday that it had signed a loan agreement with Bank Hapoalim for 5.3 billion Shekels ($1.5billion) to fund the construction of a brand new power plant. The deal, which is non-binding, is intended to fund the construction of a new power plant with a capacity of up to 850 megawatts at the site of Ashdod's current Eshol Power Station. The plant will be paid 0.065 Shekel per kilowatt-hour for the first 20 years of its operation. Dalia bought the Eshkol Power Plant in Ashdod, from Israel Electric Corp., last year as part of structural reform. The plant uses two gas turbines, four steam units and natural gas to generate electricity.
Industry Award for Sustainable Drilling Waste Solution
Specialist drilling waste management company, TWMA, has been announced as a finalist in this year’s SPE Offshore Achievement Awards.Shortlisted for the Sustainability Project Award, this recognition celebrates TWMA’s RotoMill technology, an innovative offshore processing solution that decarbonises drilling waste operations by more than 50%.Now in its 38th year, the Offshore Achievement Awards is the largest and longest established industry awards for the UK offshore energy sector. This nomination is a testament to TWMA’s commitment to cutting operational emissions and supporting a circular economy through the reuse of recovered oil.TWMA’s sustainability-led solutions…
Daphne Technology, Williams win DOE Grant for MERP Efforts
Daphne Technology, in partnership with Williams, announced the award of a grant worth nearly $6M from the U.S. Department of Energy's (DOE) Methane Emissions Reduction Program (MERP).This project, titled the "Daphne and Williams Methane Slip Abatement Plasma-Catalyst Scale-Up", highlights the critical role of innovative technologies in reducing methane emissions.As part of this collaboration, Daphne Technology and Williams will leverage their combined expertise to advance methane abatement technologies that align with MERP's goals. The MERP program addresses methane emissions across various sources in the oil and gas sector…
Lavrov, Russian Foreign Minister, says that Moscow is in touch with Serbia about ownership of NIS oil company
Sergei Lavrov, the Russian Foreign Minister, said that Moscow had been in touch with "Serbian Friends" regarding the fate of Serbian Oil Company NIS. Belgrade is concerned about U.S. sanction because Russia's Gazprom owns a majority stake. The Serbian president Aleksandar Vucic announced on Friday that, following the new U.S. sanction against Russia's oil industry, Gazprom will have 45 days to sell its ownership in NIS. Vucic said that he met with the Russian ambassador in Serbia on Tuesday to discuss "the effects of U.S. Sanctions against Russian Companies" to his NIS.
New York Times Business News - January 14
These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch their accuracy. The Securities and Exchange Commission fined Robinhood $45 million on Monday, for violations that occurred between 2019 and 2023. These included failures to safeguard sensitive customer data, the use of encrypted messaging apps by employees, and basic errors in bookkeeping. Cleveland-Cliffs' CEO Lourenco Goncalves announced plans on Monday for a possible takeover of U.S. Steel. He called it an "all-American solution" following the decision by U.S. Vice President Biden to block Nippon Steel from acquiring U.S. Steel.
Masdar, UAE launches facility for uninterrupted production of 1GW renewable energy
The chairman of Masdar, a state-owned renewables company in the UAE, announced on Tuesday that the firm has opened a facility to produce clean energy at a rate of 1 gigawatt per hour. At the Abu Dhabi Sustainability Week opening, Sultan Al Jaber - who is also the UAE Minister of Industry and Advanced Technology and the Chief Executive of Abu Dhabi National Oil Co. (ADNOC), called the project an important step in the transformation of renewable energy into baseload electricity. This will be the first time renewable energy has been transformed into baseload power. Al Jaber stated that it is a small step which could lead to a huge leap.
Slovak deputy speaker of parliament arrives in Moscow. TASS reports
The Russian state news agency TASS reported that Andrej Danko, the Deputy Speaker of the Slovak Parliament, arrived in Moscow Sunday. Bratislava is seeking a solution after Ukraine decided to stop Russian gas deliveries to Europe. TASS, as well as the Slovak media agency TASR, reported that Danko's planned visit before the gas conflict will continue through Wednesday. Slovak Premier Robert Fico stated on Friday that Russian President Vladimir Putin had promised that Russia's Gazprom state-owned gas company would find other ways to deliver gas contracted to Slovakia once transit through Ukraine was stopped.
The Moldovan President visits the area affected by blackouts and blames Russia's Gazprom
On Thursday, the Moldovan president Maia Sandu visited areas that were experiencing rolling power outages and blamed Russian Gas giant Gazprom. The energy crisis in the pro-Russian enclave of Transdniestria is a result of this. Dmitry Peskov, Kremlin spokesperson in Moscow, said that Moldova and Ukraine are responsible for the power and heating shortages. The foreign minister of Finland met with officials in both government-controlled Moldova and the separatist enclave and pledged to help both sides achieve a settlement. Transdniestria has been receiving Russian gas for over 30 years. However, Ukraine refused to extend the gas transit agreement past New Year's Day.
Hungary declares that the issue of Russian gas payments has been resolved
Hungary's foreign minister announced on Friday that it had found a way to pay for Russian gas via the Turkstream pipe from Bulgaria, while avoiding the U.S. sanction. He did not provide any details about the agreement. The U.S. On Nov. 21, creating a barrier for European gas buyers. Gazprombank has been used by buyers to pay for their purchases, including a currency conversion scheme to roubles. Turkstream, which runs through Bulgaria from Turkey, is the main pipeline used by Hungary to receive its Russian gas, 7 billion cubic meters so far in this year.
