In 2025, the global diesel price will be supported by refinery closures

Analysts and traders said that the global diesel market would likely see a price boost in 2025 due to the closing of around 1% of the refining capacity. This will offset the current weakness of the market and the structural downward pressure caused by the shift towards cleaner fuels. Markets end 2024 in a shaky state, despite the peak season demand. Margins in key energy hubs around the world, such as Singapore, Northwest Europe, and the Gulf of the United States…

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. ARGAN: French firm Argan published a new outlook on Tuesday and forecasts a net debt ratio of 8x to EBITDA by the end 2025. COLRUYT - The Belgian retailer Colruyt reported on Tuesday a decline in revenue of 5.4 billion euro for the first six months of its fiscal year. It also announced that its subsidiary Jims had acquired the NRG Fitness chain.

Canada opens Pacific trade pact to new members following Taiwan's complaint

Canada's government confirmed that a major Trans-Pacific Trade Pact is still open for other aspirant member countries, including Taiwan, to join. This was after Taipei complained about the lack of a working group that would consider Taiwan's entry. Taiwan's Government expressed its disappointment Friday at the fact that members of Comprehensive and Progressive Agreement for Trans-Pacific Partnership had not established a working group in order to discuss membership during a meeting of ministers held in Vancouver.

Blackstone buys pipeline stakes in EQT from EQT at $3.5 billion

Blackstone, an alternative asset manager, said Monday it would purchase minority stakes in certain of EQT's pipelines through a joint-venture for $3.5 billion. The sale will help EQT reduce its debt after it purchased Equitrans Midstream for $14 billion in July. In premarket trading, shares of EQT rose by 3.9%. Blackstone and EQT will form a joint venture worth about $8.8 Billion. This joint venture would include EQT’s ownership interests in the Mountain Valley pipeline and the Hammerhead pipe.

TC Energy expects higher core profit in 2025 on natgas and electricity demand

TC Energy announced on Tuesday that it expects its core profit in 2025 to be between C$10.7 and C$10.9 Billion, higher than the C$9.9 to C$10.1 Billion forecast for 2024. This is due to an increase in demand for electricity and natural gas. In its most recent short-term energy outlook report, the U.S. Energy Information Administration predicted that gas consumption in the United States would reach a new record of 90 billion cubic feet (bcfd), in 2024.

Sovcomflot's revenue drop blamed on Western sanctions

Sovcomflot, the largest Russian tanker company, said that Western sanctions against Russian oil tankers are affecting its financial performance. It reported a decline in revenues and earnings. In February, the United States imposed sanctions against Sovcomflot as part of Washington’s efforts to reduce Russia’s revenue from oil sales which it could use to fund its war in Ukraine. Sovcomflot's revenue for the nine months of 2012 fell by 22.2%, to $1.22 Billion.

Henry Hub natgas price drops to a 25-year low, while Waha is in negative territory

According to LSEG's pricing data, U.S. natural gas spot prices fell to a new 25-year low in Louisiana at the Henry Hub benchmark and entered negative territory at the Waha hub for the 47th consecutive time. The energy traders noted that the mild weather this year has had a negative impact on Henry Hub prices next day, resulting in lower heating and cooling demands than usual. LSEG reports that Henry Hub futures have been under pressure due to the low prices of next-day Henry Hub contracts.

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. MPLX’s Logistics and Storage segment saw its adjusted EBITDA rise to $1.16bn, up from $1.09bn in the third quarter 2023. The average tariff for pipelines has increased to $1.01 a barrel.

Oil hedging activity reaches record levels in October as traders take on market risks

Oil futures and option trading reached record levels during October as investors sought to hedge against the growing uncertainty caused by the ongoing war in the Middle East, and an upcoming bearish supply and demand forecast for 2025. This led to big swings in oil prices. By locking in an oil price, hedging can protect producers from market volatility and reduce their risk. This can give traders the opportunity to make money during volatile times.

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, up from a previous guideline of 920 and 950 millions euros. Vopak raised its EBITDA targets for 2024 in July for the second consecutive year…

ONEOK's Q3 profit rises on the back of strong demand and a narrower annual forecast

Pipeline operator ONEOK announced a 52.6% increase in its third-quarter profits on Tuesday. This was largely due to higher demand for natural gas in the Rocky Mountain Region, as well as higher volumes of natural gases and natural gas liquids. The company reported that raw feed volumes of natural gas liquids in the Rocky Mountain Region (NGLs) increased by 7%, and natural gas volumes in the Rocky Mountain Region processed by 5%. The petrochemical industry uses NGLs like ethane or propane as feedstock.

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. French IT company, struggling to survive, reported on Thursday a 4.4% drop in organic revenue for the third quarter. It blamed softer market conditions but also said that it saw an improvement in order entry. Bic, a French pencil maker, has raised its outlook for margins in light of Q3 results. In light of Q3 results, the company upgraded its outlook for organic revenue growth in full-year.

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The largest food retailer in Europe has maintained its financial targets for 2024. The French luxury goods group warned that its operating income for the full year would almost halve following a steeper-than-expected decline in sales during the third quarter. Sales of French tyre makers in the third quarter fell by 4.2%. This was slightly below market expectations because of weaker demand.

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Documents dated Monday show that funds managed by Brazilian investment firm BTG Pactual were granted preliminary approval Friday by the country's antitrust regulatory body to purchase the hotel operations in Brazil of AccorInvest for 1.7 billion reais (300 million dollars). FDJ stated that it would retain 98.60% Kindred following the extension of the public tender offer.

Canada regulator suspends Imperial's application to extend Norman Wells oil permits

The Canada Energy Regulator announced on Tuesday that Imperial Oil has put its application to extend life of the remote Norman Wells oil-and-gas facility in Canada's Northwest Territories on hold until a report on environmental assessment is completed. The Norman Wells site is located on nine islands, both natural and artificial in the Mackenzie River (Canada's longest river) and near the town of Norman Wells. Imperial, owned by Exxon Mobil Corp., requested last year that its Norman Wells Operating Permit, due to expire Dec.

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The French government released its budget for 2025 on Thursday. It included plans to cut spending by 60 billion euros and increase taxes on wealthy individuals and large companies in order to reduce a spiraling fiscal deficit. The French engineering company GTT announced on Thursday that Dalian Shipbuilding Industry Company had ordered the design of two new LNG carriers.

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. In German media, the state-owned Deutsche Energy Terminal (DET), without specifying exact dates for commissioning, said that FSRUs will be operational at Stade as well as Wilhelmshaven 2 before winter.

Eneva, a Brazilian company, will search for carbon and gas storage reservoirs in the Parana basin

A Brazilian oil company, Eneva, has begun an exploratory campaign to find natural gas in Parana Basin. This could lead the company into the carbon capture market. Frederico Miranda said that the first phase of the campaign began last month, and will last for about one year and half. It is expected to cost around 200 million Reais ($36.66m), according to Frederico. Miranda stated that the firm would also be looking for saline reserves which could be used in carbon dioxide storage and capture projects.

EQT Corp, a Natgas producer, will lay off 15% of its workforce

EQT Corp announced on Tuesday that it will lay off approximately 15% of its employees as part of its "integration process" after its $14 billion purchase of Equitrans Midstream. The natural gas producer has now cut the most jobs since 2019. That's when it cut about 23% of the workforce, just a few months after Toby Rice became the top executive. In March, EQT bought Equitrans, its former pipeline division, in a bid for a boost in natural gas margins…

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. This was a move made in the election year in order to gain support from the green voting blocs of his party.

Natgas producer BKV is valued at $1.56 billion in its NYSE debut

BKV shares rose by 3.1% on their New York Stock Exchange debut on Thursday. This gives the U.S. Natural Gas Producer a market cap of $1.56 Billion. Companies looking to list shares have a new window of opportunity as the long-awaited rate-cutting cycle of the U.S. Federal Reserve begins. Several companies are also speeding up their plans in order to avoid the uncertainty that will result from the November presidential elections. BKV shares opened at $18.55 on their debut, as opposed to the $18 price for the initial public offer.

Turkey's Botas talks to Iran's National Gas Company for long-term supply

The Turkish energy company Botas announced on Wednesday that they had been in talks with Iran's National Natural Gas Company NIGC about a long-term supply from Iran of natural gas to Turkey. Turkey consumes more than 50 billion cubic meters of gas each year. The country currently imports LNG from different suppliers and relies on a mixture of pipeline gas imported from Russia, Azerbaijan and Iran. The long-term contracts that govern the supply of Iranian Gas to Turkey, which amounts to 10 billion cubic meters of gas per annum, expires in 2026.

Russian insurance boosts oil exports to India's top buyer

Data from sources in the shipping and trade industries shows that Russian insurers play a greater role in facilitating oil shipments by Russia to India, which is its largest buyer. This helps to protect Moscow's revenue through exports despite Western sanctions. According to calculations based upon the documents of the vessels, Russian firms insured 60% of Moscow’s oil cargoes bound for India in July. This is up from 40% last December. By using Russian insurance companies…

Russian insurance boosts oil exports to India's top buyer

Data from sources in the shipping and trade industries shows that Russian insurers play a greater role in facilitating oil shipments by Russia to India, which is its largest buyer. This helps to protect Moscow's revenue from exports despite Western sanctions. According to calculations based upon the documents of the vessels, Russian firms insured 60% of Moscow’s oil cargoes bound for India in July. This is up from 40% last December. Moscow can use Russian insurers to sell oil above the $60-per-barrel price cap imposed by the Group of Seven…

Turkey's Botas buys 1.6 billion cubic meters of LNG from TotalEnergies over a 10-year period

Alparslan Bayraktar, the Turkish Energy Minister announced on Wednesday that Turkish state-owned energy company Botas had signed a 10-year contract to import LNG from French oil giant TotalEnergies starting in 2027. Bayraktar announced the deal on the social media platform X. The contract, signed at the GasTech conference, Houston, is for the annual delivery of 1.6 Billion cubic meters of LNG. The majority of Turkey's gas is imported from Russia, Iran, and Azerbaijan.

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. On Sept. 17, the private company Deutsche ReGas began reloading LNG from the LNG tanker Coral Energy using smaller tanks to deliver LNG in areas without pipeline access.

Grid operators predict a 20% drop in French gas consumption by 2030

French grid operators announced on Thursday that the consumption of gas in France will drop by nearly 20% by 2030, as a result of changes made to meet climate targets and to reduce costs. France is Europe's biggest energy consumer and its gas consumption has a significant impact on the region's trade and price flows. GRDF GRTgaz Terega conducted a study that forecasts 2030 consumption of 321 terawatt hours (TWh), 78 TWh less than in 2023. Recent efficiency gains and cost saving initiatives have led to fewer demand reductions.

Investors react negatively to US inflation data, causing TSX to fall

Canada's main index of stocks fell on Wednesday, part of a wider decline. Mixed U.S. data on inflation reduced expectations for a 50-basis point rate cut next week in the United States. At 10:19 am. The S&P/TSX Composite Index of the Toronto Stock Exchange was down 126.22 or 0.55% at 22,876.87 by 14:19 GMT. At least 10 sectors experienced declines. The industrials sector led the way, with a 1% decrease, mainly due to SSR Mining, which fell 3.1%; Orla Mining, which dropped 2.5%; and OceanaGold, which slipped by 2.0%.

EIA: Permian Basin gas capacity will increase with the launch of Matterhorn pipeline

The U.S. Energy Information Administration said Tuesday that the Matterhorn Express Pipeline is expected to begin operating in this month. Matterhorn, in a joint venture between Whitewater, EnLink Midstream and MPLX will transport natural gases from the Permian basin to Katy, near Houston, Texas. The pipeline can transport 2.5 billion cubic feet of natural gas per day. EIA estimates that by increasing the capacity of the Permian Gas Takeaway, the Matterhorn Pipeline could narrow or eliminate the difference in price between Waha Hub and Henry Hub.

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. In a presentation to investors published on Monday, BNP Paribas BNPP.PA, a French bank, confirmed its financial path for 2024. The bank expects annual revenue growth in excess of 2%, while adding that streamlining operations remains a priority. Exmar has published a consolidated period result (IFRS) of $69.5 million for H1. La…

Orlen, a Polish company, signs a Lithuanian deal to increase LNG deliveries

Polish top refiner Orlen has signed a five-year contract with Lithuanian oil & gas logistics company KN Energies to use a liquid natural gas (LNG), transshipment facility in Klaipeda exclusively. This agreement is aimed at small-scale gas supplies, as LNG will be delivered via small ships to the station and then transported by trucks instead of oil tankers. Gas from Klaipeda is sent to clients throughout the Baltic region, including Lithuania, Latvia and Estonia.

Wall St Week- US stock rally expands as investors wait for Fed

Investors worried about technology stocks can take heart from the broadening rally of U.S. shares. The markets are awaiting key job data and Federal Reserve rate cuts expected in September. Investors are putting their money into less popular value stocks and smaller companies, as the fortunes of big tech stocks like Nvidia and Apple continue to rise and fall. They expect lower interest rates to help these stocks. At its meeting to discuss monetary policy on September 17-18, the Fed is expected start a cycle of rate cuts.

Storage broker: Global IT outage of July caused California fuel storage problems

Storage broker The Tank Tiger said this week that the CrowdStrike IT failure last month, which grounded scores of flights, created new problems in California's fuel markets. U.S. traders were forced to store jet fuel bound for California on waterborne tanks, forcing them to store fuel for California on tankers. The Californian policies to end fossil fuel use have made it difficult to set up new oil and gas pipelines. The Tank Tiger, a clearinghouse for terminal storage in the United States…

Britain announces that the Trans-Pacific Trade Agreement will come into effect by December 15

The British Government announced on Thursday that its agreement to join Comprehensive and Progressive Agreement for Trans-Pacific Partnership will enter into effect by December 15th this year, after receiving the final ratification needed. CPTPP, or the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, is a free-trade agreement signed in 2018 by 11 countries: Australia, Brunei (Burma), Canada, Chile, Japan Malaysia, Mexico New Zealand, Peru Singapore, Vietnam.

Sources say that the Philippines' largest oil import storage company is seeking a strategic investor.

Two people familiar with the matter have confirmed that the owners of Philippine Tank Storage International want to bring in a strategic investor for the company, which runs the largest petroleum import storage facility of the country. One person said that Singapore's Keppel infrastructure Trust and the Philippine conglomerate Metro Pacific Investments Corp. (MPIC) were weighing a deal which could value the asset up to $500,000,000. Keppel Infrastructure Trust declined to comment. MPIC declined to comment.

Vibra, a Brazilian fuel company, will buy the remaining Comerc stake for $642 Million

Brazilian fuel distributor Vibra announced on Wednesday that it had signed an accord to exercise its rights to purchase the remaining stake of power generator and trader Comerc at a cost of 3.52 billion Reis ($642 millions). Vibra purchased nearly 50% of Comerc through a deal made in 2022. It had the right to purchase the remaining shares until 2026. Vibra stated in a filing of securities that it agreed to accelerate the exercise because it believes it will have a "more favorable outcome" if it buys now, rather than wait until 2026.

New Product: Rhosonics CLAMP-IN Pipe Integration System

Rhosonics debuts a pipe integration system for the Slurry Density Meter (SDM) – the Clamp-In, designed to make it easy to remove the sensor without interrupting the process.The Clamp-In allows the installation of existing pipes in the process: plastic pipes, metal pipes or even pipes with internal liners. All necessary mounting materials are supplied with the product, including the drill for making the hole in the pipe. One of the main features…

Carbon Capture & Storage: A New Lease of Life for Submarine Pipelines?

Since 2019, hydrogen and carbon capture and storage (CCS) have risen up the political agenda, globally, offering a route to decarbonization, as well as (more recently), increased energy security. Many are eying use of existing pipeline to make both happen. Elaine Maslin takes a look.Hydrogen production and CCS offers a more or less “green” decarbonization options for oil and gas companies, alongside carbon capture and storage (CCS), especially if existing offshore infrastructure could be reused to make it happen.

World’s Longest [37 km] ETH Production Pipeline installed offshore Norway

Neptune Energy reports the  installation and testing of the world’s longest traceheated subsea production pipeline at its operated Fenja field in the Norwegian sea.“Completing the installation and testing of the ETH pipe is a great technical achievement and a major step forward in the development of the Fenja field," said Erik Oppedal, Neptune Energy’s Director of Projects and Engineering in Norway. "The ETH pipe-in-pipe solution is crucial for extracting the oil…

Enterprise Offers Crude Shipments From Gulf Coast to Cushing

Enterprise Products Partners LP said it would offer spot shipments of crude on an existing pipeline from the U.S. Gulf coast to Cushing, Oklahoma, the delivery point for benchmark U.S. crude futures, as demand to store oil inland surges.The move marks a sharp reversal from recent pipeline projects that were all built connecting inland markets to the Gulf Coast as U.S. crude exports climbed to record highs after Washington lifted a ban in late 2015.However, the coronavirus pandemic has crushed global oil demand and dented U.S.