Romanian Brazi Power Plant resumes operation after being shut down by the state
Romanian energy company OMV Petrom is majority owned by Austrian OMV. Its 860 MW, gas-fired Brazi Power Plant has resumed operation after being forced to close due to water restrictions in the Paltinu Dam, which it relies on. According to the company, Brazi's power plant will soon be operating at full capacity. The plant supplies about 10% of the electricity in the country.
The US-Venezuela Relationship as Seen Through the Price of an Oil-Linked Bond
The increased pressure from the United States on Venezuelan President Nicolas Maduro and his government has brought to light the defaulted debts of Venezuela, including those of Petroleos de Venezuela (PDVSA), the state-owned oil company. Venezuela defaulted in its debts in 2017, but PDVSA paid holders of a bond that matures in 2020. The swap was made in 2016, replacing debt due the next year.
UK consumers face higher energy bills after regulator approves $37 billion grid upgrade
The British Energy Regulator has approved an investment of 28 billion pounds ($37.33 billion), over the next five-years, to ensure that the energy system is reliable and safe in the future. This is part of a plan to upgrade the energy system which will increase consumer bills by 108 pounds per year. The investment exceeds the provisional estimate of 24 billion pounds made by regulator Ofgem back in July…
Pemex debt should be a red flag to potential partners when Mexico looks to increase oil production
Over a month has passed since Pemex's head made an appeal for partners to assist Mexico's state oil company in boosting production. But national and international companies are still not responding. Pemex has a mountain of debts, ranging from Italian producers such as Eni, to U.S. service companies SLB and Baker Hughes, which, combined with rigid contract terms…
French sugar beet production to reach 36 million tonnes, say growers
The French sugar beet harvest is expected to increase from 32.8 millions metric tons last season to 36 million metric tonnes in 2025/26, as improved yields offset a reduction in the area planted, according Wednesday's statement by growers group CGB. CGB stated in a presentation that the forecast for the 2025/26 crop is based on 91 tons of yield per hectare compared to 80 tons in 2024/25.
Palm oil contracts with Dalian are higher
Malaysian palm futures were up on Wednesday. They extended gains from their previous session and tracked the strength of their Dalian counterparts as well as the overnight Chicago soyoil. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery had gained 33 ringgit or 0.79% to 4,192 Ringgit ($1,015.75) per metric ton.
Trump removes the word "renewable" from the title of U.S. Energy Lab
In a latest attempt to devalue renewable energy sources like solar and wind, the Trump administration renamed an energy laboratory to remove the term "renewable". The National Renewable Energy Laboratory in Golden, Colorado will be known now as the National Laboratory of the Rockies. This was announced on the lab's website late Monday.
Bousso: New oil quotas system to spur spending with ROI-OPEC+
The changes OPEC+ makes to its oil production quotas will likely trigger a wave upstream investment among members, especially in low-cost Gulf producers. This will reduce concerns about long-term shortages of supply. The Organization of the Petroleum Exporting Countries (OPEC+) and other major oil producing nations including Russia…
India's October to November sugar production rises by 43% due to higher recovery rates
Leading industry bodies reported on Tuesday that India's sugar output in the first two month of the season 2025/26, which began October 1, was up 43% compared to a year ago, due to better recovery rates and quicker crushing in major producing states. It is anticipated that the higher production will allow the second largest sugar producer in world to export excess supplies without fear of shortages at home…
Bousso: New oil quotas system to spur spending with ROI-OPEC+
The changes OPEC+ makes to its oil production quotas will likely trigger a wave upstream investment among its members, especially in low-cost Gulf producers. This will reduce concerns about long-term shortages of supply. OPEC+ (Organization of the Petroleum Exporting Countries) and other major oil producing nations including Russia…
US LNG Exports Hit Record High in November on Cooler Weather
U.S. liquefied natural gas exports hit an all-time monthly high in November for the second straight month, driven by cooler weather and robust output from the country's two largest producers, preliminary data from financial firm LSEG showed on Monday.The U.S., the world's top LNG exporter, shipped 10.9 million metric tonnes last month…
China is preparing for a record-breaking winter in terms of power and gas consumption.
An official of the National Development and Reform Commission said that the peak demand for electricity in China and the peak gas consumption will both be at their highest levels ever recorded this winter. The winter and summer are the peak seasons for electricity demand due to heating and cooling. Shanghai's grid experienced record demand this summer as temperatures spiked.
Orlen to Buy Out Energa Minorities to Take Full Ownership
Polish state-controlled refiner Orlen said on Wednesday it plans to buy out the remaining shares in its utility unit Energa to take full ownership, with a price tag of about 709 million zlotys ($189 million).The move will see Orlen integrate the utility more deeply into its energy transition strategy. The refiner is offering 18.87…
Energy operator warns of emerging risks to UK gas supply as demand declines slowly
The energy operator in Britain warned on Wednesday of possible shortages during the coldest months. In its first assessment of gas supply security since being established last January, the National Energy System Operator stated that while overall demand for gas will decrease as Britain decarbonises it will be slower at peak times.
Abu Dhabi's GSU launches $1 billion energy project in Yemen
On Wednesday, the United Arab Emirates announced that it would launch energy projects in Yemen worth $1 billion to help rebuild its energy sector. These will be implemented through Abu Dhabi-based Global South Utilities. GSU announced in a press release that the agreement would see the company develop a portfolio of projects including solar and wind energy…
Oil Prices Fall as Ukraine Signals Support for Peace Deal
Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be yielding fruit.An end to the war in Ukraine could pave the way for the unwinding of Western sanctions against Moscow's energy trade, potentially adding more supply at a time…
Brazil views issues related to the import of US biofuels as 'practically solved'
Geraldo Alckmin, the Brazilian Vice-President, said on Tuesday that "practically all issues" related to Brazil's imports from the United States of biofuels had been "resolved". Alckmin, the Minister of Development, Industry, Trade and Services, said that his comments referred to an easing of rules in the RenovaBio Program to address U.S. concern.
Analysis finds that China's coal plant permits will be at a four-year low by 2025.
A new Greenpeace report showed that China's coal plant permits will fall to their lowest level in four years. This is due to the growing demand for renewable energy sources. Greenpeace has found that China allowed 41.8 gigawatts to be added to coal plant capacity during the first quarter of 2025. If the current pace is maintained, the 2025 permits will be the lowest since 2021.
VEGOILS - Palm oil falls for the fourth time in a row, indicating a weakening of Dalian palm oils
Malaysian palm futures fell for the fourth consecutive session on Tuesday. This was due to the weakness of Dalian palm oils, as market participants assessed the flooding situation in Malaysia, the second largest palm oil producer in the world. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was down 30 Ringgit or 0.74% at 4,025 Ringgit ($973.87) per metric ton.
VEGOILS - Palm falls for the third time in a row on weak demand and currency strengthening
Malaysian palm futures declined for three sessions in a row on Monday. The contract closed at its lowest level in 21 weeks as the stronger ringgit weighed on it, and weak demand also contributed to this decline. The benchmark palm-oil contract for February delivery at the Bursa Derivatives Exchange in Malaysia lost 14 ringgit or 0.34% to 4,055 Ringgit ($979.71), its lowest closing price since July 1.