Germany Preps for More FSRU Vessels
Germany is expanding its natural gas import options to replace Russian supply. Following are updates on key facilities and terminals being developed to host floating storage regasification units (FSRUs) to receive seaborne liquefied natural gas (LNG). Plans also include shore-based regasification terminals and facilities to import and…
Industry says that the US dependence on Canadian oil should discourage Trump tariffs
Canada's oil industry doesn't expect tariffs to be included in the protectionist measures proposed by Donald Trump, U.S. president-elect. This is because U.S. refineries depend on Canadian barrels. Some Canadian oil industry players saw Trump's victory as a positive, which would encourage energy investment in North America. It could also boost the value of U.S. dollar that Canadian producers get for their crude.
Bangladesh is looking for potential LNG suppliers as part of a new enlistment procedure
Bangladesh has invited companies to sign up for a contract that will supply liquefied gas on a temporary basis. On Sunday, Rupantarita Prakritik Gas Company Ltd. (RPGCL), an entity of Petrobangla owned by the state, posted a call for enlistment to its website. The application deadline is December 1. Bangladesh has 23 companies on its shortlist from which to choose LNG suppliers for the spot tendering process.
Sources say that PetroVietnam Gas is looking for LNG supplies to be delivered in December and January.
PetroVietnam Gas has requested a partial shipment of LNG for delivery in December or early January. The tender, which closes Tuesday, is for 2,500,000 million British Thermal Units (mmBtu), of LNG to deliver to the Thi-Vai terminal between December 20 and January 5. One source said that PetroVietnam Gas was seeking partial cargoes to commission Nhon Trach 3, 4 and 5 power plants.
Three Industrial Projects for Le Havre Announced
The French government has selected winning proposals for a hydrogen import terminal, a renewable fuels facility and a lithium production factory to be built at the state-run port of Le Havre as part of an effort to attract industrial investment, the finance ministry said on Thursday.The land around the port was labelled a turnkey investment site under the 30 billion euro "France 2030" plan…
MPLX's earnings for the third quarter increase as pipeline throughputs rise
The U.S. midstream firm MPLX announced a higher net profit for the third quarter 2024 compared to the previous year on Tuesday, as it transported more energy products via its pipeline system. The adjusted earnings before taxes, depreciation, and amortization (EBITDA), were $1.7 billion, compared to $1.6 billion at the same period a year earlier.
Vopak lowers its profit forecast for 2024 on the basis of sustained demand
Vopak, a Dutch tank storage company, raised its core profit forecast for 2024 on Wednesday following the release of its third-quarter results that were slightly better than analysts' expectations. The Rotterdam based company now expects earnings before interest, taxes, depreciation, and amortization (EBITDA), in 2024, to be between 930 and 950 millions euros…
Palm prices fall as India rejects premium prices and funds drive the market
Malaysian palm futures declined on Friday, but were still on track to have their best week in over 16 months. India pulled back from purchasing due to a growing premium for soft oils. Fund positions are driving the current prices. During the midday break, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for delivery in January fell 16 ringgit or 0.35% to 4,587 Ringgit per metric ton.
AG&P LNG acquires Australia's Venice Energy and develops South Australian import terminal
The Singapore-based Atlantic, Gulf and Pacific LNG (AG&P LNG) has agreed to acquire the Australian energy infrastructure developer Venice Energy and build its Outer Harbor Import Terminal in South Australia. AG&P LNG aims to have the LNG import terminal at Port Adelaide operational by the first quarter 2027. This was stated in a Thursday statement.
Drill, baby, drill in Argentina's Vaca Muerta shale lands!
Argentina's new, market-friendly government, and concerns about oil supplies from the Middle East, and elsewhere, are driving a boom in drilling and production in the Patagonian South, which is home to the giant Vaca Muerta shale, Spanish for "Dead Cow". In the flat, arid terrain, the production of shale oil and gas is surging. Fracking wells have been drilled in record numbers…
Nigeria approves Exxon Seplat after two years
Nigeria has approved the sale to Seplat Energy of Exxon Mobil Corp.'s onshore assets, said the chief executive of the country's Upstream regulator on Monday. This comes more than two years since the original $1.28 billion agreement.Since it was announced in February 20, 2022, the sale has been scrutinized as it awaits regulatory approval.Bola Tinubu…
Sources say that India's HPCL will start a LNG terminal by the end of the year and seeks a long-term supply.
Three sources claim that India's Hindustan Petroleum Corp. (HPCL) has been in discussions with eight to nine companies about a long-term LNG supply. HPCL built the sixth LNG import terminal in India at Chhara, located in western India. New Delhi is trying to increase the use of cleaner fuels. It was the bad weather that prevented the company from commissioning the plant earlier this year.
Voters in British Columbia's provincial election are focused on affordability and healthcare.
British Columbia, Canada's most western province, is preparing to elect its provincial government on October 19. Polls indicate that the incumbent New Democratic Party holds a narrow lead over the main rival Conservative Party. The provincial elections will be closely watched for clues as to how Canadians might vote at the federal election that is due to occur within the next 12 months…
Sources: At least 18 injured by fire at Venezuelan La Salina oil terminal
Sources familiar with the operations of Venezuela's La Salina Oil Terminal said that at least 18 people, including workers, neighbours and firefighters, were reported injured by a fire in a crude oil storage tank. The fire started early on in the morning during a thunderstorm and raged through the afternoon. The facility is near Cabimas…
Nigeria's Belemaoil resumes oil lease 55 operations after a three-year hiatus
The Nigerian independent producer Belemaoil Producing announced on Monday that it has resumed its operations at Oil Mining Lease 55, after a three year shutdown due to theft-related damage. Belemaoil purchased OML 55 from Chevron Corporation in February 2015, which is located in an area of swampy to shallow waters, about 40km west of Bonny's oil export terminal.
Canadian Natural Gas Companies eager to capitalize on the LNG boom flood the market with excess supply
Analysts said that a huge LNG Canada terminal, led by Shell, could struggle to raise Canadian natural-gas prices dramatically when it begins operating next year, because of a glut of supply waiting to be released. Storage was full, and the price of a million British thermal unit (mmBtu), which had been at a high for two years, dropped to 5 Canadian cents in late September.
Sources say that India's Adani Group is planning 10 GW of overseas hydroelectric projects
Four sources familiar with Adani Group's plans said that the group plans to build ten gigawatts worth of hydroelectric projects overseas in the next few years. This will help the conglomerate achieve its goal of achieving net zero carbon emission by 2050. The billionaire Gautam Adani announced that his group, which includes businesses ranging from rice to concrete…
Germany builds LNG import terminals
Germany is expanding its natural gas import options as part of efforts to decarbonise and replace Russian supplies. Here are some details about terminals that will host floating storage regasification (FSRU) units to receive LNG. There are also plans for shore-based terminals, as well as facilities to produce and import ammonia and hydrogen.
Natural gas producers ask Harris for answers on the battleground state
Drillers from Pennsylvania, an energy-rich state, called on Democratic presidential nominee Kamala Harris this week to explain her stance on natural gas. The energy industry touts it as a clean fuel but climate activists claim that the fuel is a threat to global warming. In January, President Joe Biden froze new LNG export permits to examine their environmental impact.
Kiewit resolves dispute with Venture Global LNG regarding construction disclosures
The president of Kiewit Energy announced that construction contractor Kiewit settled its lawsuit against Venture Global LNG for disclosing information to Shell about the Calcasieu Pass LNG Plant. Venture Global filed an arbitration complaint against Kiewit on August 2, alleging that it had passed confidential documents to Shell during a dispute regarding the Louisiana LNG plant's commercial production status.
