Baker Hughes exceeds its quarterly profit expectations on natgas demand
Baker Hughes, a U.S. oilfield equipment company, beat Wall Street's fourth-quarter profit estimates on Thursday as strong demand for natural gas products and services offset the weak sales of its drill gear in North America. Oilfield services companies are struggling with lower demand, as extraction technology becomes more efficient and increased supplies discourage more drilling from energy companies. Baker Hughes reported that revenue for its oilfield service segment in North America fell by 5%…
Baker Hughes signs supply agreement with Venture Global
Baker Hughes, a provider of oilfield services in the United States, announced on Thursday that it had signed an agreement with Venture Global for technology and equipment to support its projects involving liquefied gas (LNG). Venture Global has signed a framework agreement for services to support phases 1 and 2 in Louisiana's Plaquemines LNG Project. The demand for LNG has increased as Big Tech invests billions in AI technology.
Norway's wealth funds continues to invest in renewables, despite the market downturn
A senior fund official stated on Thursday that Norway's $1.8 billion wealth fund, which is the largest in the world, will continue to invest in renewable assets, despite recent market downturns. The fund will also seek out opportunities both in the public and private markets. In 2024, renewable energy assets will have underperformed the market significantly. This includes some of the previous favourites among investors such as Danish offshore developer Orsted.
Mersen exceeds growth forecast and 'no impact' of US tariffs
Mersen, a French supplier of advanced materials, reported on Wednesday that its annual consolidated sales were higher than expected at 1.24 billion euro ($1.29 billion), representing organic growth of 2.6%. Thomas Baumgartner, Mersen’s Chief Financial officer, told a conference call that the company had exceeded its initial organic growth projection of 1%-2%. He attributed it in part to a recovery on the silicon semiconductors market by the end of 2024.
Chevron will build gas plants for data centers in the AI boom
The oil and gas company Chevron announced on Tuesday that it will build natural gas power plants near data centers in the U.S. as the energy demand for artificial intelligence growth is expected to grow. The second largest U.S. oil and gas producer has partnered with Engine No. The project is a partnership between Engine No. 1 and electric service company GE Vernova. Chevron announced the project a day after Chinese startup…
Russell: Europe imports more LNG as it draws cargoes out of Asia.
In January, the world's imports will reach their highest level in a single year as Europe's winter demands draw cargoes from Asia's top consumer region. According to commodity analysts Kpler, a total of 38.12 millions metric tons super-chilled gasoline is expected to be imported by January. This represents an increase from the 37.69 in December, and the highest since January 2024, when 38.73 was imported. The volume of LNG imports in January is the third highest ever recorded…
Tariffs on copper and aluminium by Trump could increase costs for U.S. customers
Analysts and industry participants stated on Tuesday that President Donald Trump's promise to impose tariffs on U.S. imports of copper and aluminum would lead to higher prices for local consumers due a lack of production at home and the time required to renew the industry. Trump told Republican lawmakers that he will impose tariffs on steel and aluminium, metals needed for the production of U.S. Military hardware. Trump was elected president of the United States in November…
Russell: Europe imports more LNG as it draws cargos from Asia
In January, the world's imports will reach their highest level in a single year as Europe's winter demands draw cargoes from Asia's top consumer region. According to commodity analysts Kpler, a total of 38.12 millions metric tons super-chilled gasoline is expected to be imported by January. This represents an increase from the 37.69 in December, and the highest since January 2024, when 38.73 was imported. The volume of LNG imports in January is the third highest ever recorded…
Goldman Sachs raises US gas price forecast amid colder winter
Goldman Sachs raised its forecast of U.S. Natural Gas prices from $3.00 per million British Thermal Units (MMBtu), to $3.60 for 2025. This is due to tighter gas balances in this winter, as a result of colder than average temperatures. The bank stated that "there is no need for $4 gasoline just yet". The investment bank stated in a note that it expects a more moderate downward revision of our storage expectations for end-October 2025, which is -124 BCF (to 3,980Bcf).
Trump's policies and European demand will tighten the global LNG market by 2025.
The global market for liquefied gas could be tighter this year, as the rising demand in Europe intensifies competition between Asia and North America and offsets new North American supplies at a moment when President Donald Trump’s energy policies and tariffs are also being closely watched. Energy Aspects, a consultancy, said that Europe's LNG consumption is expected to increase by over 14 million metric tones to 101 million…
EIA expects higher wholesale electricity prices in the U.S. by 2025
The U.S. Energy Information Administration forecasts higher wholesale electricity prices in 2025 for all regions of the United States, except Texas and Northwest. In a report released on Monday, the EIA stated that wholesale power prices may average $40 per Megawatt Hour (MWh) in 2019. This would represent 7% more than 2024. The EIA predicted that the average cost of electricity in U.S. households would rise by 2% without accounting for inflation.
Trump's Policies, European Demand Should Tighten LNG Marke
The global market for liquefied gas could be tighter this year, as the rising demand in Europe intensifies the competition with Asia. This will offset new North American supplies at a moment when President Donald Trump’s energy policies and tariffs are also being closely watched.Energy Aspects, a consultancy, said that Europe's LNG consumption is expected to increase by over 14 million metric tones to 101 million tones in…
Oil prices fall as Trump reiterates his call for OPEC price cuts
Oil prices fell on Monday, after U.S. president Trump asked OPEC for a reduction in prices in response to his announcement that he would take a wide range of measures to increase U.S. oil production and gas output during his first week as president. Brent crude futures fell 53 cents or 0.68% to $77.97 per barrel at 0430 GMT, after closing up 21 cents Friday. U.S. West Texas Intermediate Crude was $74.16 per barrel, down by 50 cents or 0.67%.
Trump calls for OPEC price reductions
The oil prices dropped more than 1% Monday, after U.S. president Trump asked OPEC for a price reduction following his announcement of sweeping measures to increase U.S. gas and oil production in his first weeks in office. Brent crude futures fell 87 cents or 1.11% to $77.63 per barrel at 0043 GMT, after closing up 21 cents Friday. U.S. West Texas Intermediate Crude was $73.77 per barrel, down by 89 cents or 1.19%. Trump reiterated…
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State. Iran, one Trump's primary targets during his first tenure…
Handelsblatt reports that Scholz, Germany's Scholz, welcomes the U.S. energy policy turnaround
The German newspaper Handelsblatt reported that German chancellor Olaf Scholz welcomed U.S. president Donald Trump's plans to increase oil and gas exports. He said it was good for Europe and Germany. Scholz stated in an interview that the move will help with the transition towards climate neutrality. This phase would last until the middle of this century. The chancellor stated that "more supply on the market will mean lower energy prices".
NextEra advances toward Iowa nuclear plant restart
NextEra Energy CEO John Ketchum said on Friday that the company has been in contact with regional grid operators about a potential restart of the Duane Arnold Nuclear Power Plant located in Iowa. Nuclear power in the United States has been on the decline for decades, but now is a sought-after electricity source by Big Tech's AI Data Centers. Nuclear power's ability, in the past year, to provide vast amounts of energy around-the clock that is almost carbon-free, has helped boost shares of nuclear plant companies.
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State. Iran, one Trump's primary targets during his first tenure…
Japan's JERA plans on expanding US LNG purchases in order to diversify the energy supply
JERA, Japan's largest LNG buyer, is planning to increase its purchases from the United States in order to diversify their supply and meet the demand growth spurred on by data centres and AI. U.S. president Donald Trump promised to unleash the U.S. industry of energy to boost production and threatened the EU if it did not purchase more gas. This could mean that JERA would have to compete against other buyers to get more U.S. natural gas.
Fortescue Energy CEO: Green hydrogen costs are key to reducing demand
Fortescue Energy CEO Mark Hutchinson said in Davos that buyers will not pay "green premiums" if the price is competitive. By splitting water into oxygen and hydrogen, using renewable electricity, green hydrogen can be created. The hydrogen can be used to generate electricity or as an ingredient in agricultural fertilisers. Hutchinson, speaking at the Global Markets Forum, said that electrolyzers which split hydrogen were…
