Energy officials in Thailand say that Thailand wants more LNG from Malaysia
Thai energy officials said on Wednesday that Thailand actively seeks additional 'LNG' supplies from Malaysia due to disruptions caused by the Middle East conflict. Watcharin Boonyarit said that Thailand will need to diversify its LNG supply, which is estimated to be between 5% and 10%. He was speaking on the sidelines at the Offshore Technology Conference held in Kuala Lumpur. He said that "roughly two to three LNG ships arrive from…
Thailand Seeks LNG Supplies from Malaysia Due to Middle East Conflict
Thailand is actively seeking additional LNG supplies from Malaysia following disruptions caused by the ongoing Middle East conflict, Thai energy government officials said on Wednesday.Thailand would need to diversify some of its LNG supply away from the Middle East, estimated at roughly 5% to 10%, said Watcharin Boonyarit, the Energy Ministry's deputy director general of its Energy Policy and Planning Office, on the sidelines of the Offshore Technology Conference in Kuala Lumpur."Roughly two to three LNG vessels arrive from the region each
Microsoft, Chevron, and Engine No. Exclusive power supply agreement signed by Microsoft, Chevron and Engine No.
Microsoft, Chevron, and Engine No. The three companies announced on Tuesday that they had entered into a power supply and generation exclusivity agreement. Microsoft and other technology companies are rushing to secure the electricity they need for their data centers, which will power artificial intelligence services like ChatGPT or Copilot. Engine No. Engine No. 1 and Chevron had?already announced a partnering last year, to build natural-gas-based power plants near?data centres in the U.S. The?two planned to use GE Vernova?turbines.
Oil and gas exploration is back. Energy giants are hunting to replenish reserves
Executives at the CERAWeek Conference in Houston, Texas, this week declared that global energy companies have returned to the basics, focusing their efforts on finding?new oil and gas sources. This marks the end of years of underinvestment. The'shale revolution' in the U.S. in recent years promised a flexible, abundant supply. However, growth in renewable energy sources like wind and sun raised doubts over long-term demand for oil. Oil and gas drillers have chosen to 'flood profits into dividends and stock buybacks rather than exploration.
Sources say that India is looking for raw materials to make steel from Argentina, Indonesia and Oman
Two sources with direct knowledge said that India would hold talks next month with Argentina, Indonesia, and 'Oman to increase supplies of steelmaking raw materials like coking coal and ore and access technology. The talks ?are ?expected to begin next month at a global steel summit, described by the Indian government as the country's largest international conference-cum-exhibition, said the sources who did not wish to be identified as the plan was not yet public.
SLB extends Nvidia's partnership with energy sector to develop AI infrastructure
SLB, an oilfield services company, announced on Wednesday that it would expand its partnership with Nvidia to develop artificial intelligence models and infrastructure for the energy industry. The agreement builds on the partnership between the two companies, which began in 2008. SLB used Nvidia’s accelerated computing. In 2024 the deal will expand to include the development of?generative AI for the energy industry. This also reflects a need for the energy industry to process increasing volumes of geological data…
Germany announces climate plan for reducing emissions and fossil fuels
Germany announced plans to help it achieve its 2030 climate targets and reduce dependence on volatile fossil fuel imports. It has made 8 billion euros (9.28 billion dollars) available for the implementation of these measures. The long-awaited programme of 67 points is not only a response from Berlin to climate change concerns, but also to growing concerns about the soaring prices for energy and disruptions in oil and gas flows due to the Iran War.
Mike Dolan: The ROI-Gulf War rattles the petrodollar Foundations
No matter what the outcome of this war is, the question for the Gulf's oil-rich economies will remain: "Is the U.S. umbrella worth the cost?" Since U.S., Israel and other countries launched attacks on Iran, on February 28, the Gulf's neighbours have been the most affected by the missiles and drones which followed. These weapons destroyed energy infrastructure and damaged economies. They also exposed the limits of a supposed U.S. umbrella. This reckoning has consequences that go 'far beyond the militaristic.
Russell: The war fuel crisis in Iran gives electric vehicles a boost for the long term.
The U.S. president Donald Trump is known for his support of fossil fuels. However, the war on Iran will likely result in an acceleration of energy transitions, particularly in Asia. Retail fuel prices have risen rapidly in the world's fastest-growing and most populous region since the U.S.-Israeli aerial campaign against Iran began on February 28. In Australia, for example, the cost of a litre?diesel has reached a record high of A$3 ($2.09), having risen by around 36% since "the war" began, while gasoline prices in Japan have risen by 18%.
Sinopec will increase Bohai Bay Shale Oil as a backup to maintain output
Sinopec, the Chinese oil company, will increase shale oil production in the Bohai Bay basin following a successful pilot. The resources gained from this project will be used to sustain oil production for a longer period of time, according to its chairman. Sinopec has pumped 7.3 million barrels of oil (or close to one million metric tonnes) from the Jiyang Trough in the basin, which is part of Shengli Field, an old field. This was the first of Sinopec's major shale-oil pilot projects.
Investors predict that the war in Iran will increase Chinese demand for renewable energy
Investors rush into Chinese renewable stocks betting that the oil shock caused by the Iran War will increase?global green energy demand, a sector China dominates. This 'portfolio' trend in Asia is a result of growing concerns about energy security in Asia and a growing distrust for Washington. It contrasts with the United States, which has shifted back to oil and gas. Aaron Costello, Cambridge Associates' head of Asia, said at a conference in Hong Kong that countries should now focus on energy security.
Russell: The war fuel crisis in Iran gives electric vehicles a boost for the long term.
The U.S. president Donald Trump is known for his support of fossil fuels. However, the legacy of war against the?Iran will likely be an acceleration in the energy transition. This is especially true in Asia. Retail fuel prices have risen rapidly since the U.S.-Israeli aerial campaign began on February 28, causing the world's fastest growing region to be hit by the fallout. In Australia, for example, the cost of a litre (about 1.9 liters) of diesel has reached a record high of A$3, having risen by 36% or so since the start of the war.
Investors predict that the war in Iran will increase Chinese demand for renewable energy
Investors rush into Chinese renewable stocks, betting that the oil shock caused by the Iran War will boost global demand for the green energy sector, which China dominates. This portfolio?trend, spurred by?heightened concerns about energy security?and 'growing distrust of the U.S.'s reliability contrasts with the United States returning to oil and gas. "As you step back and the dust settles, or the price of crude oil begins to drop,...
NextEra CEO: NextEra has secured land in Texas to build a giant gas plant that will power data centers
NextEra Energy secured land in?Texas to build a gas-fired power plant that will be used to power a massive data?center. The project is backed by a U.S.Japan agreement. Last week, the power provider revealed that President Donald Trump's administration had approved the construction of two gas plants totaling 10 gigawatts in Texas and Pennsylvania. This will help to meet the exploding electricity demands of data centers. The $33 billion project would be developed by NextEra and operated by them…
Iran threatens to retaliate after Trump's ultimatum against Gulf water and energy
Iran has warned that it will strike water and energy infrastructure in the Gulf region if U.S. president Donald Trump follows through with his threat to "attack" its electricity grid. This is raising fears about a massive disruption of drinking water for a region heavily reliant on desalination. Trump gave a deadline of 7:45 pm EDT (2345 GMT) on Monday, warning late Saturday that the United States will strike Iran's nuclear power plants if Tehran does not fully reopen the Strait of Hormuz in 48 hours.
CERAWeek, the energy conference in Houston, returns as Iran's conflict shakes global energy markets
Next week, the world's top energy executives? will return to Houston as the escalating U.S. - Israeli war on Iran has turned into a nightmare for global energy markets. Unprecedented attacks?on infrastructure? and shipping disruptions have sent oil prices soaring as governments struggle to combat inflation and avoid recessions. The global oil price has risen this week to almost $120, a level not seen since 2022, when Russia's war in Ukraine caused a market disruption.
Ukraine Looks to Partner With Romania to Develop Black Sea Gas Discovery
Ukraine's Naftogaz, which discovered "substantial" offshore gas reserves in the Black Sea before Russia's invasion, is in talks with Romania's OMV Petrom to form a partnership relating to the field, three industry sources told Reuters.The sources did not indicate the amount of recoverable gas at the discovery, but one called it "one of the most promising gas fields in the Black Sea region", where Romania and Turkey are already developing…
UN Climate chief: Iran war a'simple lesson' in fossil fuel dependency
The U.N. Climate Secretary will inform EU policymakers that the disruption of energy markets caused by the Iran War is an "abject" lesson in the dangers?of?relying?on fossil fuels. The European Union, despite being geographically distant from the Middle East crisis, has been affected by it through the soaring global energy prices. The European gas price has risen by 50% in the past two weeks. "Fossil?dependency is ripping national security and sovereignty away…
US and allies clash over Iran nuclear program with Russia and China
On Thursday, the U.S. and its allies faced off against Russia and China over Iran's intentions to develop nuclear weapons. Washington was attempting to justify at the United Nations the war that it started two weeks ago on Iran. Russia and China tried to block the discussion of a committee that would oversee and enforce U.N. Sanctions against Iran at a meeting this month of the 15 member U.N. Security Council. The motion was overruled by a vote of 11-2, with two abstentions. Mike Waltz, the U.S.
RWE's US expansion plan of $20 billion includes gas-fired power stations
RWE, Germany’s largest power producer, announced on Thursday that it would invest in new gas-fired plants to expand more aggressively in the United States, a market where data centres are a major factor in power demand. The move is a major push from Germany's largest utility into a market where rapid construction of data centers,?as?well as the need for modernising ageing power infrastructure, has fueled a boom in the generation assets and network equipment.