National Bank of Ukraine: Ukraine will need $2.9 billion in 2025 to purchase gas
Ukraine's National Bank stated on Friday that the country will need $2.9 billion in gas imports by 2025, after Russian missiles and drones damaged Ukrainian gas production plants. In the late winter and spring of 2016, Russia repeatedly attacked Ukrainian gas assets located in the east. This caused a drop of at least 40% in gas production. A certain amount of capacity has been recovered.
Enagas' chief executive says that Spain's national hydro network plan is ahead of schedule
The chief of Spanish gas grid operator Enagas announced on Friday that plans to build a 2,600 km (1.615 mile) network of hydrogen in Spain were progressing ahead of schedule. Infrastructure is also on track for a start-up in 2030. The H2Med Corridor is a planned trans-European corridor that will connect the Iberian Peninsula with Northwest Europe.
RWE has ceased offshore wind activity in the United States
RWE's CEO stated in a speech draft published in advance of the annual general meeting that the company has temporarily halted its offshore wind activities in the United States due to the regulatory uncertainty caused by the Trump administration. Markus Krebber's comments highlight the challenges facing European energy companies on the U.S.
Indonesia wants fair and square trade in US tariff discussions
Indonesia's senior economic minister, and its top negotiator, said that it is prioritizing its national interests in ongoing negotiations about U.S. Tariffs. It wants to have a "fair-and-square" trade relationship. Airlangga hartarto, head of the delegation, and Sri Mulyani indrawati, finance minister, have been in the United States for the last week, negotiating proposed tariffs of 32% that the U.S.
Britain Emphasizes Collaboration on Energy Security at Global Summit
Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries around the world after Russia's full-scale…
African energy exploration company Rhino Resources discovers light oil offshore Namibia
Namibia got a boost Thursday after Rhino Resources found "high-quality" light oil at its latest well. U.S. oil company Chevron also announced that it is considering a drilling campaign for 2026 or 2027. The southern African nation, a global hotspot for exploration, aims to produce its oil by the end of the decade, following a series of recent discoveries by Shell, TotalEnergies, and Galp Energia.
Trump's emergency move is aimed at cutting approval time for energy projects from 28 days to 28
The Trump administration announced on Wednesday that it would implement a process of emergency permitting for energy and mining on federal land, cutting approval times from months or even years down to just 28 days. The U.S. Department of the Interior's move comes in response to the President Donald Trump declaration of a national energy emergency, which he issued on his first official day of office.
Taiwan: Buying more US oil and gas is the focus of tariff talks
Taiwan's trade talks with the United States are centered on increasing purchases of U.S. oil and natural gas, said President Lai Ching Te. Lai has promised to pursue a zero-tariff regime with the United States, and to buy and invest more within the country. He is trying to thwart President Donald Trump's import tariffs that are now on hold.
Shell completes survey of Venezuelan gas field as winding down of license approaches
Shell, the oil and gas company, plans to finish a marine survey of the offshore Dragon gas field in Venezuela before the May deadline set by the United States to close all energy licenses in the country. According to LSEG vessel tracking data, the Colombian-flagged Dona Jose II survey vessel arrived in Venezuela sanctioned by the U.S. this month to collect data for Shell and Trinidad’s National Gas Company.
Trump's order to stop NY wind project shocks offshore industry and threatens other projects
The Trump administration’s decision late Wednesday to halt the construction of Equinor’s Empire Wind 1 off the coasts of New York sent shockwaves throughout the offshore wind industry. It raised concerns that fully permitted developments worth billions of dollars are not secure. Donald Trump, the U.S. president, had promised during his campaign to put an end to offshore wind energy.
Trump's order to stop NY wind project shocks offshore industry and threatens other projects
The Trump administration's late Wednesday decision to stop construction of Equinor’s Empire Wind 1 off the coasts of New York sent shockwaves throughout the offshore wind industry. It raised concerns that developments with full permits, representing billions of dollars in investment, aren't secure. Donald Trump, the U.S. president, had promised during his campaign to put an end to offshore wind energy.
Bhutan's economy is powered by 'green' cryptocurrency
Chief executive of Bhutan's sovereign wealth fund, Mr. Parminder Singh Dhugyal, said that Bhutan is looking at ways to harness green cryptocurrency using hydropower in order to boost the economy and create employment to reduce brain-drain and to boost its economy. Green cryptocurrencies is a term used to describe digital currencies that are mined with clean energy sources such as solar, wind or hydro power.
The US has ordered the construction of Equinor New York Offshore Wind Project to be halted
U.S. Interior Secretary Doug Burgum announced on Wednesday that he had instructed his agency to stop construction of Equinor's Empire Wind off-shore wind project near the coast of New York. Burgum wrote in a blog post on X that information indicated the Biden administration rushed to approve the project without adequate environmental analysis.
US proposed looser interpretation of the law protecting threatened species
The Trump administration proposed on Wednesday a major shift in how threatened species are taken into account when agency actions are made. This was done by removing the regulatory language which aims to prevent habitat degradation. This move aligned itself with the pledge of President Donald Trump to reduce what he calls burdensome federal regulations on businesses.
South Korea and Vietnam boost their economic ties despite looming US trade tariffs
South Korea and Vietnam have agreed to expand their economic cooperation following a ministerial meet on Monday. This comes at a time of great urgency for both countries to reduce the impact of possible U.S. Tariffs. Ahn Duk-geun, South Korea's Minister of Industry, is in Vietnam to try and negotiate a reduction in the threatened U.S.
Sources say that the price of Saudi crude in China will surge after a fall in May.
Saudi Arabian crude oil supplies to China are expected to increase in May compared with the previous month, as the sharp price reduction by the Kingdom has attracted increased demand. A tally of the allocations made to Chinese refiners in May showed that Saudi Aramco, the state oil company, will ship 48 million barrels. This is up from 35.5 million barrels in April.
Sources say that more than 2,600 US Energy Dept employees accepted a second resignation offer.
Two sources confirmed on Thursday that more than 2,600 U.S. Department of Energy employees have accepted the second round of resignations offered by the Trump administration. The hardest hit offices were those dealing with power grid stability, and those who provide loans for high-tech projects. According to a document reviewed by…
US no longer requires green analyses for oil and gas leases in Western States
The Trump Administration announced on Thursday that they will no longer be requiring environmental impact statements (EIS) for oil and natural gas leases in the U.S. West. This is a move to remove green barriers that will likely be challenged in court by environmental groups. Interior Department released a statement saying that…
Brazil prepares a new oil auction amid trade war threats to budget, sources claim
Four people with knowledge of the situation said that Brazil is planning to auction off stakes in offshore oil fields this year as a way to increase revenue. The plan has gained momentum amid declining oil prices and increasing global trade uncertainty. Two sources who spoke under condition of anonymity said that the auction would involve smaller and uncontracted portions of the Tupi…
Peru's mining chamber reports a 2-4% increase in copper production this year
Julia Torreblanca, the president of SNMPE, The National Society of Mining, Oil and Energy, has predicted that Peru's output of copper will grow between 2% and 4 % this year. This would place Peru's production of copper between 2.79 and 2.85 millions metric tons compared to the 2.74 million tons produced last year. Torreblanca told…
