LNG Canada announces that it has begun production at its second unit.
The company announced that LNG Canada had begun producing liquefied gas in the second of two processing units. This unit is known as Train 2. A spokesperson said that both trains of the Shell-led Kitimat project, each with a 6.5 million ton capacity per year, are now operational. LNG Canada, Canada's first major LNG export plant and first facility on the West Coast of North America to provide direct access into Asia, the largest liquid fuel market in the world, is now operational. The facility will be able to process approximately two billion cubic feet per day when fully operational.
Sources say that Russia's Orenburg plant has increased its gas imports from Kazakhstan
Two industry sources reported on Thursday that the Russian Orenburg gas plant had increased its gas intake from the Karachaganak gas field in Kazakhstan at the beginning of November, in an effort to recover gradually after it was attacked by drones last month. The first disruption of Western oil majors in Russia was caused by the strike at the Orenburg plant, located 1,056 miles (1 700 km) east of Ukraine. This was part of Kyiv’s campaign against Russian infrastructure. The incident resulted in a reduction of oil and gas condensate production at Karachaganak.
PetroChina will phase out 19 old chemical and refining units to reduce sector glut
Analysts say that PetroChina, a state-owned company, plans to permanently close 19 aging refining and chemicals units in order to reduce overcapacity. This is part of Beijing’s campaign to boost profitability and curb the country’s overcapacity. Due to the rapid electrification, fuel demand in this country's transportation fleet is expected to increase faster than anticipated. Its petrochemical industry is also plagued with excess capacity and low margins. Analysts who attended PetroChina's earnings conference last week said that the company will phase out 18 units over the next two decades that are no longer operating.
Poland is in talks with the US to import more LNG to supply Ukraine and Slovakia
Two sources familiar with negotiations say that Poland is working to secure a deal for the import of liquefied gas from the U.S. in order to supply Ukraine and Slovakia. This agreement would strengthen the European Union's relationship with American energy. The Polish Energy Ministry confirmed the talks late Wednesday night. One source said that officials expect to announce a declaration jointly boosting imports following a meeting between the parties during a transatlantic conference on energy in Athens this week. One of the sources said that "after that, discussions will follow about terms for supplies to Slovakia".
Poland Working on Deal to Import US LNG to Support Ukraine, Slovakia
Poland is working on a deal to import liquefied natural gas (LNG) from the U.S. to supply Ukraine and Slovakia, an agreement that would further tighten the European Union’s ties to American energy, according to two sources familiar with the negotiations.Officials expect to announce a joint declaration to boost imports after a meeting of the parties at a transatlantic energy conference in Athens later this week, one of the sources said."After that, discussions would follow on terms for supplies to Slovakia," one of the sources told Reuters.
Poland is in talks with the US to import more LNG to supply Ukraine and Slovakia
According to sources familiar with negotiations, Poland is negotiating a deal for the import of liquefied gas (LNG), from the United States, to supply Ukraine and Slovakia. This agreement would strengthen the European Union's relationship with American energy. One source said that officials expect to announce a declaration jointly boosting imports following a meeting between the parties during a transatlantic conference on energy in Athens this week. One of the sources said that "after that, discussions will follow about terms for supplies to Slovakia".
Masdar to invest in Austria's Largest Hydrogen Project
The United Arab Emirates' state-owned energy company Masdar will invest in Austria's largest hydrogen project, run by oil and gas firm OMV, Austria's APA news agency reported on Wednesday.According to an agreement with the Emirati government announced by Austria's economy minister at the ADIPEC energy fair in Abu Dhabi, Masdar will hold a 49% stake in the planned electrolysis plant in Bruck an der Leitha, while OMV will retain a 51% stake and operational management, APA reported.The investment amounts to a high three-digit million sum, it added.The deal would mark a step further in economic ties between Austria and the United Arab Emirat
Masdar, a UAE-based company, invests in Austria's biggest hydrogen project
Austrian news agency APA reported that Masdar, the state-owned energy firm of the United Arab Emirates, will invest in Austria’s largest hydrogen project run by oil and natural gas company OMV. According to APA, according to an agreement announced by Austria’s economy minister during the ADIPEC Energy Fair in Abu Dhabi, Masdar would hold a 49 percent stake in the planned Bruck an der leitha electrolysis plant, while OMV would retain a 51 percent stake and operational management. It added that the investment is in excess of three million dollars.
How BP won a $1 billion plus case against Venture Global
Five sources familiar with the case said that BP's $1 billion arbitration win against liquefied gas producer Venture Global was won by arguing unfair behavior by the U.S. firm. This strategy could be used in similar cases by other claimants. BP won in October. Two months earlier, Shell had lost a similar lawsuit when it was unable to prove Venture Global's breach of long-term LNG agreements. Shell didn't push the argument that Venture Global acted unfairly in its arbitration. Legal and industry experts say that lawyers across the industry are chasing the details of BP’s winning strategy…
$400m Natural Gas Pipeline Between Israel and Cyprus Awaits Government Approval
A $400 million pipeline to transport natural gas from Israel to Cyprus is awaiting government approval from both countries and Israel has expressed support, the head of Eastern Mediterranean focused gas producer Energean told Reuters on Tuesday.Energean on Monday signed a letter of intent with leading Cypriot industrial and energy group Cyfield for the potential supply of natural gas from Israel to Cyfield's planned power plant via the new pipeline, said Mathios Rigas, CEO of the British firm.Gas could flow through the pipeline within 12 months of the government approvals being granted…
Inpasa begins construction of new grain-ethanol plant worth $445.2 Million in Brazil's Goias State
Inpasa, Latin America's leading grain ethanol producer, announced on Friday that it would invest 2.4 billion Reais ($445.2 Million) in a new facility to be built in Rio Verde (Goias), adding that the construction had already begun. The company announced in a press release that the new facility, its ninth, and first in Goias will strengthen the integration of agriculture and energy with industry. It also plans to use corn and sorghum, among other grains. The plant will process 2,000,000 metric tons per year of grain and produce 1 billion liters (or ethanol) and 490,000.00 tons (or DDGS) of protein feed for livestock.
J-Power shuts down two coal-fired plants and commits to offshore wind project
J-Power, Japan's Electric Power Development Company (J-Power), announced on Friday that it would decommission 2 coal-fired plants by March 2029 in order to achieve its 2030 goal of reducing carbon dioxide emissions by 46 percent from 2013. Hitoshi Kano also reiterated the company's intention to complete the Oga, Katagami, and Akita offshore project in the northern Akita Prefecture within the framework of Japan's public auction second round. J-Power is a wholesale supplier of electricity that relies on coal-fired production for more than half of its sales in the United States.
First Solar's sales exceed expectations, and the company plans to open a second US factory
First Solar, the largest U.S. solar panel manufacturer, exceeded expectations for third quarter sales on Thursday. This was due to robust demand for their products. Their shares rose more than 5% during extended trading. Solar-generated electricity has become one of the fastest growing segments in the U.S. Energy Industry, due to the strong demand of corporations and government agencies for cleaner energy sources and climate change. First Solar announced that it would build a 3.7 GW manufacturing plant in the U.S. Production is expected to begin at the end 2026, and increase through the first half 2027.
Amapa Governor: Brazil's Petrobras is studying a logistics base for Amapa
Clecio Liu, the governor of the Amazonian State of Amapa told reporters that Brazil's Petrobras had authorized studies to build a logistics centre in the state. Last week, the state-run oil company began exploring a promising offshore area. Luis explained that the company's Transpetro logistics subsidiary would do the studies. He added that the center will support Petrobras in the event of an important discovery. Petrobras did not give any further details. Magda Chabriard, Petrobras' Chief Executive, had previously said that the oil company could begin production within seven years if a significant find is made.
US loans $1.5 billion for coal-fired fertilizer plants
The U.S. Energy Department announced on Wednesday that it had closed a $1.5 Billion loan to Wabash Valley Resources, LLC, for an Indiana Fertilizer Plant, which will now be powered by coal. The department stated that the project would restart a coal-gasification plant, which has been idle since 2016, and modify it so that it can produce 500,000 tons of anhydrous urea each year, using coal from a mine nearby and petcoke as a feedstock. The loan is in line with the policy of the Trump administration to support coal. This industry has been shrinking over recent years because of competition from renewable energy and natural gas.
Mexico's Pemex production of oil fell 5.6% in September, as gasoline and diesel production rose
According to the data released by Pemex late Tuesday, Mexico's state-owned energy company Pemex has produced 5.6% less crude and condensate in September compared to last year. This equates to an average of 1.65 million barrels a day (bpd). The driller, who is heavily indebted, has been unable to increase production despite the cash injections and tax reductions since the previous administration. Many fields are depleting and new discoveries cannot compensate for this. The seven local refineries processed crude oil at 949,772 barrels per day in September. However, this was almost 10% less than August's levels.
Sinopec's profit for Jan-Sept is down by a third due to lower oil prices and weaker fuel sales
Sinopec, a Chinese oil company, reported a 32% drop in its net income year-on-year for the first three months of this year due to lower crude prices and weaker sales. Sinopec, the world's biggest refiner by volume, reported a net profit of 8.5 billion yuan (1.19 billion dollars) in its third quarter, which was almost flat compared to a year ago, according to Chinese accounting standards. Sinopec reported in a filing that the net income for the first 9 months was 29.98 yuan (about $4.21 billion). Sinopec has processed about 4,98 million barrels of crude oil per day between January and September.
Second LNG Carrier Departs from Sanctioned Portovaya LNG Plant
A second gas carrier has departed from Russia's U.S.-sanctioned Portovaya LNG plant on the Baltic Sea after a hiatus, in search of a foreign buyer, showing Russia's continued efforts to flout restrictions on LNG sales, LSEG data showed on Wednesday.According to the ship-tracking data, gas carrier Valera, previously named Velikiy Novgorod, had departed from the Gulf of Finland. It was due to arrive at an unspecified location on January 15, the data showed.The tanker is the second to leave the plant in the past three months.The first tanker…
BPCL and Oil India plan to expand refinerys worth $11 billion.
Bharat Petrol Corp, the state-run oil company in India, signed three agreements on Tuesday at an industry conference. One of them was with Oil India for a greenfield refinery complex and petrochemical plant worth 1 trillion rupees ($11.38billion) to be built in Andhra Pradesh. BPCL has also partnered up with Numaligarh Refinery, Oil India and Fertilisers & Chemicals Travancore for a 35 billion rupee pipeline across the country. It will also market organic fertilizers from its Kochi Biogas Plant. Chairman Sanjay Khanna stated that Oil India was considering taking a 10-20% stake in a planned refinery for southern India…
NextEra beats quarterly profit estimates on renewables strength, robust power demand
NextEra Energy surpassed Wall Street expectations for its third-quarter adjusted profits on Tuesday. This was due to the strength of its renewables unit, as well as increased demand from data centres fueling artificial intelligence's boom. According to the U.S. Energy Information Administration, power consumption will reach record levels in 2025 and in 2026 due to a surge of demand for data centers that run artificial intelligence technology. In premarket trading, shares of the company rose 2.2%. Florida Power & Light's (FPL), its regulated utility, reported a net profit of $1.46bn, an increase of 13.2% over the previous year.