Spanish renewables company Ignis eyes IPO and Expansion reports
The newspaper Expansion, citing anonymous market sources, reported Wednesday that the Spanish renewable energy company Ignis had hired Citigroup to help prepare for a possible initial public offering. According to the report, the process is still in its early stages. Several options are being considered, including a traditional IPO, a sale or existing shares, and a combination. Ignis and Citigroup did not immediately respond to requests for comment. Expansion said that a dual-track approach is also being considered. In this process, a part of the capital would be placed on the stock exchange and the rest with one or more large funds.
Australia and Timor call for progress on Greater Sunrise Gas Field
On Wednesday, East Timor's Xanana Gushmao and Australia's Anthony Albanese said that the Greater Sunrise -gas project should begin "as quickly as possible" with Australia pledging a third of state revenues to its neighbour. Albanese signed a partnership agreement on Wednesday with Gusmao, during his first visit to Australia's northern neighbor. The agreement covers deeper defence ties, border security, and economic development. The visit coincides with the tiny Catholic nation's?push to build a Liquefied Natural Gas plant on its southern coast, instead of?piping gas to an Australian plant in Darwin.
Sources say that the US will issue a general license to lift some sanctions against Venezuelan oil industry
Four sources said that the U.S. is preparing to issue a license to lift sanctions against Venezuela's energy industry. This would be a shift from the previous plan of granting individual exemptions for companies wishing to do business with Venezuela. After the capture by the U.S. of Venezuelan president Nicolas Maduro in early this month, U.S. official have stated that Washington will ease sanctions on Venezuela's Energy Industry to facilitate a $2 Billion oil supply deal between Caracas Washington and an ambitious 100 billion dollar reconstruction plan for Venezuela's Oil industry.
Ship-tracking company says that US Gulf Coast LNG and oil exports were zero on Sunday as a result of the freeze.
Vortexa, a ship tracking service, reported that exports of liquefied gas and crude oil from U.S. Gulf Coast ports fell to zero on Sunday, before resuming on Monday after a major winter storm hit the nation. A recent Arctic blast has pounded the United States, straining power grids and energy infrastructure. According to some estimates, up to 2 million barrels of oil per day were shut down over the weekend because of the cold weather. Samantha Santa Maria Hartke, Vortexa's head of market research, explained that port closures were enacted to "prevent incidents" and "minimize congestion". This resulted in a reduction in exports.
Shell's legal battle against Venture Global is centered on communication with the engineer, a court transcript shows
Shell's appeal against its arbitration loss to liquefied gas producer Venture Global centers on possible communications between the U.S. company and independent engineer Lummus Consultants. A draft court transcript, seen by shows, details these potential communications. The transcript of a New York Supreme?Court?hearing on January 12 includes more details about Venture Global's long-running battle with oil giant Shell and Lummus's appointment as a witness in arbitration proceedings. Shell lost an arbitration last year over cargoes coming from Venture Global's Calcasieu Pass plant.
Sources say that the U.S. will soon issue a general license lifting sanctions against Venezuelan oil industry.
Three sources familiar with preparations said that U.S. officials were working on a general license to be issued soon, which would lift some sanctions against Venezuela's energy industry. This is a change from the previous plan of granting individual exemptions to sanctions to companies that wanted to do business there. U.S. officials said that following the capture by the U.S. of Venezuelan president?Nicolas Maduro in the first week of this month, Washington would ease the sanctions imposed on Venezuela's Energy Industry to facilitate a $2 billion…
Executives say Trinidad's Atlantic Liquefaction Project will begin to remove the liquefaction units in Q4.
Michael Daniel, director of capital projects at Atlantic LNG in Trinidad and Tobago, announced on Tuesday that the project's flagship, the liquefied?gas? project, would begin to remove one of its liquefaction train from operation during this last quarter. Train 1 has not been producing LNG?for more than a year but it is still in operation because all utilities, including the power that controls?all four trains, reside in Train 1. Train 1 hasn't produced LNG for more than a month, but it still runs because the utilities and power that control all four trains are located in Train 1.
Benchmark European Gas Prices Follow Lower US Market
The Dutch and British wholesale prices of gas fell on Tuesday, reversing gains made earlier and following the declines in the United States. Prices fell about 13% after production began to recover from the recent winter storm. The freezing weather in the United States had put a strain on energy infrastructure, and more than 548 000 homes and businesses were left without power. The storm would be the most expensive severe weather event since wildfires that ravaged the Los Angeles region early last year. The benchmark European contract, the front month?Dutch at the TTF Hub…
Shipping data shows that Indian diesel exports to West Africa have increased as a result of the EU's ban on Russian crude-derived fuel.
Shipping data from Kpler & Vortexa revealed that India stopped exporting Diesel to the European Union in this month because of the EU's 'ban' on fuels derived from Russian crude. Turkey's exports of diesel to the EU have slowed down over the past few months. These developments show that the EU's policy to punish Russia for its full-scale invasion in Ukraine 2022 is causing a reordering of oil flows between continents. This forces India's refineries to find new markets, and disrupts Turkey's lucrative fuel trade with the EU. Clare Morris, an analyst with Energy Aspects…
US Northeast spot natgas, power and electricity prices reach record highs due to Arctic blast that boosts heating demand and freezes gaswells
U.S. spot gas and power prices soared in the northeastern region of the country as homes and businesses turned up their heaters. The cold Arctic air had frozen oil and gas wells, and pipes this week. This resulted in gas production dropping to a 2-year low. Pennsylvania's?has jumped by 47%, to a record of $59. In Pennsylvania and Maryland, the price of a megawatt-hour (MWh) soared by 146%. This compares to average cash gas prices in New England of $6.08/mmBtu and $2.79/mmBtu at the Eastern Gas?hub and the average next-day electricity prices at the PJM West?hub of $60.23/MWh by 2025. In recent days, the next-day gas and power prices in the U.S.
Slovakia files lawsuit against EU ban on Russian Gas Imports
Robert Fico, Slovakia's Prime Minister, said that the country will challenge the European Union?decision taken by a qualified majority to ban Russian gas imports. Slovakia and Hungary were both against the ban on Russian gas imports. The EU wanted to ensure that the ban would be supported by a majority of countries. This allowed it to overcome the opposition of both countries who are heavily dependent on Russian gas and oil, and want to maintain strong ties with Moscow. Fico announced on Tuesday that Slovakia will file its own lawsuit, coordinating with its neighbor.
Prices for gas in Europe go up after US winter storm restricts LNG exports
The Dutch and British wholesale prices of gas rose slightly Tuesday morning, as the freezing weather in America continued to?curb liquefied gas exports. A winter storm in the U.S. has left more than 548, 000 homes and businesses without power. The storm is set to be the most expensive severe weather event since wildfires that ravaged the Los Angeles area in early 2025. LSEG data shows that the benchmark European gas contract (the front-month Dutch contract) at the TTF Hub reached its highest level in April of last year on Sunday, but fell below it on Tuesday morning, at 39.85 Euros per megawatt hour or $13.87/mmBtu by 1010 a.m. GMT.
PJM, the largest US power grid, issues alerts when storms increase energy demand
The largest U.S. grid PJM announced on Tuesday that it had issued additional alerts to transmission & generation firms, as a'monster winter -storm' looked to be bringing unprecedented energy demand. The operator, who serves 13 states and District of Columbia, sent out Maximum Generation and Load?alerts to companies, asking them to determine if maintenance or testing could be postponed or cancelled to keep the units online during this critical period. These alerts let other systems 'know' that PJM could'reduce its electricity exports. The storm?dumped one foot of snow between New Mexico and New England. It paralyzed most of the east coast of the U.S.
Prices of EUROPE Gas are slightly higher as US cold continues a curb on LNG
The wholesale gas prices in the Netherlands and Britain rose slightly Tuesday morning, as freezing temperatures in the United States continue to limit liquefied natural gas exports. By 0931 GMT the benchmark Dutch front-month contract was 0.60 euros higher, or $14.02/mmBtu at the TTF Hub. On Monday, the price of oil reached its highest level since April of last year. The British day-ahead contract rose 3.70 pence, to 105 pence a therm. Meanwhile, the front-month contract increased by 0.22 pence, to 103.60 cents therm. The U.S. Gas Market could continue to be of concern, as the supply disruptions affect LNG exports. U.S.
Major Gulf bourses see gains as earnings season progresses
Investors focused on corporate earnings drove the early trading on Tuesday on major stock markets across the Gulf. Saudi Arabia's benchmark indices gained?0.4% led by an increase of 0.9% in Al?Rajhi bank. The bank's net profit was 24.79 billion Saudi riyals, up from 19.72 billion the year before. Al Rajhi announced a dividend of 1,75 riyals per share for the second quarter, a rise of nearly 20% compared to last year's same period. Other gainers include Saudi National?Bank, the largest lender in the country by assets. The bank's shares rose 1.8% after a dramatic rise in its?2025 profit.
Canada wants to increase energy trade with India says energy minister
Canada's Energy Minister Tim Hodgson stated on Tuesday that the country is considering boosting its energy?exports in India to diversify its client base and reduce its dependence?on??supply from the United States. Hodgson said at the Indian Energy Week that exporting 98% to the United States is a "strategic? blunder" and saw an opportunity for India to work with him. India will have the fastest growing energy demand in the world, according to Hodgson, who added that Canada could provide crude oil, natural gas liquefied and uranium. Kpler data shows that Canada does not currently export crude oil or LNG to India.
ADNOC CEO: Oil demand will remain above 100 million barrels per day (bpd) through 2040
The head of the Abu Dhabi National Oil Company (ADNOC), said that 'global oil demand is expected to remain at or above 100 million barrels a day until 2040. Demand for both LNG and electricity are expected to grow 50% or more. The Managing Director and Chief Executive Officer?Sultan Ahmed Al Jaber said at the India Energy Week Conference?on?Tuesday that the electricity demand would be driven by a need to power cooling systems, AI infrastructure and data centers. Al Jaber, the Abu Dhabi state company's spokesperson, said that ADNOC is expanding its gas portfolio to Asia and Africa. India has signed a deal worth $3 billion to purchase LNG from the United Arab Emirates.
Venezuelan oil reform encourages immediate investments, but executives still need to go deeper
Foreign and local executives and attorneys said that a proposed reform to Venezuela's oil laws is sufficient to encourage existing companies to expand, and to start investing. However, deeper reforms are needed to attract the $100 Billion the U.S. estimates is necessary to overhaul the nation's energy industry. The U.S. now controls Venezuela's oil revenue and exports after a military invasion to capture President Nicolas Maduro in early this month and a naval blockade since December to stop oil shipments from sanctioned ships. Venezuela's government relies heavily on oil revenue.
US energy sector reels as winter storm knocks 2 million bpd crude production
Analysts and traders estimate that U.S. producers lost as much as 2 million barrels per day or 15% of their production during the weekend. This was due to a winter storm which ravaged the nation, straining the?energy grids and infrastructure. Energy Aspects estimates that oil production outages peaked at 2 million barrels per day on Saturday. The Permian basin is likely to have experienced the greatest share of this decline, at about 1.5 million bpd. Production losses decreased on Monday. Permian shutdowns were estimated at 700,000 bpd, and production is expected to be fully restored by the end of January.
Sources and documents say that trading houses will begin exporting Venezuelan LPG.
According to two sources, and a shipping documentation seen on Monday, trading houses are preparing to load and export Venezuelan LPG as part of a 50 million barrel oil supply deal between Caracas and Washington. Vitol & Trafigura were awarded the first U.S. licensing earlier this month to 'handle supplies of the $2 billion flagship agreement, which aims drain the accumulated?inventory since the U.S. implemented an oil blockade against the?country last December. Shipping data shows that the companies have exported around 10 million barrels Venezuelan crude oil since December. LPG is a good example.