Perry's Proposed Grid Rule Scrambles Energy Alliances
U.S. Energy Secretary Rick Perry's attempt to save the coal and nuclear industries by proposing a new grid resiliency rule is making for some odd bedfellows across the energy sector. The proposed grid resiliency rule threatens to…
Glencore Inks Angolan LNG Purchase Deal
Trading house Glencore is to buy liquefied natural gas (LNG) supplies from Angola LNG over a multi-year period, adding to similar recent deals between the producer and traders including Vitol. Angola LNG on Wednesday said the deal…
Swiss Traders Grab $10 Billion Slice of LNG Market
Traders mopping up LNG glut, finding new emerging market buyers. Swiss trading houses are muscling in on the global market for liquefied natural gas, until now the preserve of energy giants, and expect to grab a $10 billion share of the rapidly growing business this year.
Canada's First LNG Export Terminal Seen as One-off
Woodfibre LNG, Canada's first liquefied natural gas export project, will be a "nice-to-have" fillip for the country's gas producers but does not signal the start of a west coast LNG boom, industry watchers said on Monday. Privately…
Australia Tightening Grip Grip on Coking Coal Markets
Australia is set to boost its dominance of the global trade in steel-making coal, as cost cutting and better margins due to a slide in the local dollar stoke a rise in production and put pressure on U.S. rivals to cut output. Top exporter BHP Billiton…
Global Coal Benchmarks Below 2009 Levels
Thermal coal prices down 75 pct since 2008, 60 pct since 2011. Three leading global thermal coal price benchmarks have fallen below levels last seen during the global financial crisis of 2008-2009, knocked by a sharp slowdown in demand…
Are the Good Times Over for Growth in U.S. Shale Gas?
U.S. natural gas production could decline in 2016 for the first time in 10 years, driven by low oil prices after a decade of gangbusters growth from shale plays. While most analysts forecast gas production will continue growing year-over-year…
Global Gas Prices Converge After Five Years
U.S. natgas prices have remained low due to domestic shale boom; Asian LNG prices soar post-Fukushima; rising China demand. Global benchmark prices for natural gas have converged to their closest in five years, a trajectory created by a supply glut and an oil rout.
Warburg Pincus Raises $4 billion Private Equity Fund for Energy
Warburg Pincus LLC said on Monday it had raised $4 billion for its first energy-focused private equity fund, exceeding its $3 billion target and making it the latest investment firm looking to tap into opportunities in North America's shale gas boom.
Oman Oil Eyes Local Oxy Assets
Oman Oil Co. is in talks with Occidental Petroleum Corp to buy a minority stake in its assets in the Gulf Arab sultanate, the Omani firm's chief executive said on Tuesday. "We are now in negotiations with Occidental to buy their assets here in the sultanate…
Skanska Looks to Buy U.S. Builders Specializing in Power Plants
Sweden's wants to buy more U.S. builders that specialize in power plant jobs as it seeks to capitalize on a building boom on the back of low energy prices, the company's incoming Americas chief said. The U.S. shale gas boom is attracting…
France Faces Rising Risk of Power Failures after 2015
France faces an increasing risk of power failures after 2015 as gas-fired power plants are mothballed at home and across Europe, grid operator RTE said on Wednesday. RTE expects a shortfall in production capacity in France of 2,000…
Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG
Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material.
Europe's Gas Imports to Grow 50 pct by 2030
Europe's gas imports seen at 370 bln tonnes/year by 2030. Russian share of European market to remain at a third; North America to become world's largest gas producer. Europe's imports of natural gas will surge 50 percent by 2030…
Siemens, Mitsubishi Eye Joint Bid for Alstom
Siemens says to decide on joint bid by June 16; Mitsubishi CEO says deal would create value for France. Source close to Alstom says joint bid to face hurdles. Siemens is in talks with Mitsubishi Heavy Industries over a joint bid for the energy assets of France's Alstom…
Germany to Set New Rules for Fracking
Germany plans to draw up new rules in the coming weeks for the controversial method of fracking for gas, which will impose tight restrictions on the technique that has led to a shale gas boom in the United States. The guidelines…
UK Coal Starts Business Closure with CEO Departure
UK Coal, Britain's largest coal producer, has started the gradual closure of its loss-making business by parting ways with its chief executive officer, the company said. Kevin McCullough, brought in to help restructure the firm in early 2013…
UK to Ease Fracking Rules as Huge Reserves Emerge
Proposal allows drilling without landowners' permission; billions of barrels of oil under rock formations in south. Huge shale gas finds in north have fuelled fracking boom. Britain plans to ease rules on accessing shale oil and gas…
Norway Bets on Global Warming in Arctic Oil and Gas Drive
Norway wants to let oil and gas companies drill in Arctic seas that were frozen as recently as the 1980s even though some climate experts say it is too early to trust global warming to keep the ice away. Russia is also showing new…
German Mid-Sized Groups Warn of High Energy Costs
Germany's medium-sized industrial groups on Monday warned that high energy costs caused by the country's shift towards green power would harm their competitiveness over the next two years and called on the government to keep a lid on prices.
