Sources: Petrobras is in discussions with Raizen, BP, and Inpasa about a joint venture for ethanol
Two sources familiar with the matter said that Brazilian state-run Petrobras was in discussions with Raizen, BP, and Inpasa about a potential joint venture for ethanol. Earlier that day, Petrobras' director of energy transformation, Mauricio tolmasquim, told reporters that the company was investigating a joint venture for ethanol. He did not name the companies with which it might partner.
US natural gas drillers will increase output in 2025, reversing a year-long cut
The U.S. Natural Gas producers will increase output in 2025 after a series production cuts this past year. Rising demand from LNG export plants should raise prices, which had dropped to multi-decade lows. According to the latest U.S. Energy Information Administration outlook, U.S. natural gas production will decline in 2024, for the first drop since 2020 when the COVID epidemic reduced demand.
Hess CEO will consider appealing FTC board seat ban in the future
Hess' CEO said that he will consider appealing to the Federal Trade Commission the ban on his taking a Chevron Board seat once the Trump Administration takes office. In September, the FTC barred John Hess's participation on Chevron’s board of directors as part a consent order allowing the proposed acquisition. Exxon Mobil, CNOOC and…
Hess CEO will consider appealing FTC board seat ban in the future
Hess' CEO said on Wednesday that he will consider appealing to the Federal Trade Commission the ban on his taking a Chevron Board seat once the Trump Administration takes office. As part of an agreement that allowed for the acquisition, the FTC banned John Hess's appointment to Chevron’s board. Exxon Mobil, CNOOC and Hess's joint venture…
Nigeria seeks long-term buyers of new Utapate oil and aims to double production
Nigeria seeks long-term customers for the new crude oil grade Utapate, and aims to double its output from 40,000 barrels a day by 2025. The launch is part Nigeria's effort to boost its oil output, which has been hindered for years by unrest and theft of crude, despite being a member of the ongoing OPEC+ Production Cut Pact. NNPC announced last week that Nigeria produces around 1.8 millions bpd…
Sources say that a JV of green arms from India's NTPC and ONGC has bid $650 mln for Ayana Renewable.
Two people who were involved in the deal said that a joint venture between India's NTPC Green Energy, and ONGC Green Energy was the highest bidder on Ayana Renewable Power. They bid $650 million. People said that the venture had outbid JSW Energy to secure the renewable energy company backed by the quasi-sovereign fund National Investment and Infrastructure Fund.
US natgas exports to LNG plants are on track to reach a 9-month high
According to data provided by financial firm LSEG, the amount of gas going to seven large U.S. liquefied gas export plants is on track to reach a new nine-month record on Thursday. This was due to feedgas reaching multi-week records at a few plants. Energy market is concerned about feedgas flow to U.S. Liquefied Natural Gas plants…
Nel is appointed as the new CEO of South Africa's largest gold miner amid a copper pivot
Harmony Gold, South Africa’s largest gold producer in terms of volume, announced on Thursday that Beyers Nel had been appointed chief executive officer, to replace Peter Steenkamp who is retiring. Nel is a mining engineer with Johannesburg's gold producer. He has worked there since 2003. His new role will begin on January 1, 2025. Nel is Harmony's chief operating officer.
Sources say that Venture Global LNG is planning to raise $3 billion from its US IPO.
According to sources familiar with the situation, Venture Global LNG plans to raise up to $3 billion in its New York initial public offering. This could happen as early as this year. The people who spoke to Venture Global said that the company is in discussions with Goldman Sachs, JPMorgan Chase and other banks about the listing plan.
Report: Senior aide of Argentina's Milei claims Shell is eyeing LNG investment
According to the newspaper La Nacion, the cabinet chief of Argentine president Javier Milei cited Shell as a possible investor in a future liquefied gas (LNG), project that will be managed by YPF, Argentina's state-owned oil company. La Nacion reported that Guillermo Francos, the Cabinet Chief, said during an event the major energy company had shown "strong interest" for a possible LNG investment in the nation.
Report: Senior aide of Argentina's Milei claims Shell is eyeing LNG investment
According to the newspaper La Nacion, the cabinet chief of Argentine president Javier Milei cited Shell as a possible investor in a future liquefied gas (LNG), project that will be managed by YPF, Argentina's state-owned oil company. La Nacion reported that Guillermo Francos, the Cabinet Chief, said during an event the major energy company had shown "strong interest" for a possible LNG investment in the nation.
BP's efforts to reduce renewables will not affect the JV with EnBW
The joint venture between BP and EnBW, which is a partnership in offshore wind energy, will not be affected by BP's current efforts to reduce its renewables activities, said the finance chief of the German utility on Tuesday. In 2021, the two companies entered into a partnership of 50:50 to develop offshore wind farms in Britain. They…
Inpex: Ichthys LNG Train 1 will resume full-scale operation in December
Inpex Corp, the operator of Australia's Ichthys LNG, said that Train 1 will resume full-scale operation at the start of December. This follows a reduction in its operating rate for inspections. In order to maintain safety, the Inpex spokesperson said that "Ichthys LNG Train 1" is currently operating at a slightly lower production level in order to inspect heat exchangers.
Venture Global gets FERC Nod for LA LNG Plant
Federal regulators on Wednesday gave Venture Global LNG permission to introduce natural gas into its Plaquemines export plant in Louisiana, documents show, moving the plant a step closer to producing the superchilled gas.The 20 million metric tons per annum (MTPA) Plaquemines LNG plant will be the second-largest U.S. export facility when fully operational.
Venture Global receives permission from federal regulators to add natural gas to LNG plant
Documents show that federal regulators granted Venture Global LNG approval on Wednesday to introduce natural gases into its Plaquemines Export Plant in Louisiana. This allows the plant to move closer to producing supercooled gas. When fully operational, the 20 million metric ton per annum (MTPA), Plaquemines LNG facility will be the second largest U.S. Export Facility.
Major Salzgitter shareholder mulls takeover bid
Salzgitter announced on Monday that its second-largest shareholder GP Gunter Papenburg is considering a possible takeover of the German Steelmaker with a partner. The offer is only valid if TSR Recycling and the two-party consortium reach a minimum of 45% of Salzgitter plus one share. Salzgitter has not disclosed the price of its offer.
Origin Energy's APLNG revenues rise on higher gas prices and sales
Origin Energy, a company based in Australia, reported a sequential increase in revenue for its first quarter from its stakes in the Australia Pacific Liquefied Natural Gas (APLNG), backed by higher natural gas prices and strong sales. Origin, which aims to transition to greener energy sources, has said that it is evaluating a variety of early-stage opportunities for renewable development.
Low Carbon, a UK investment company, sells 6 GW of Dutch battery storage.
Low Carbon, a UK-based renewables energy investor, has announced that it sold a portfolio of 6 gigawatts of battery storage project in the Netherlands to S4 Energy. S4 Energy is owned by global commodities trader Castleton Commodities International. According to Low Carbon, the battery storage portfolio in the Netherlands is among the largest in development.
Hydro stops funding and cuts stakes in Vianode, a battery materials manufacturer
Hydro, a Norwegian metals company, announced on Thursday that it would reduce its stake in Vianode, a graphite materials firm, and cease to provide funding for the group. It joins other Nordic companies who have scaled back their ambitions in battery manufacturing. Vianode was originally owned by metals group Hydro and Elkem, along with private equity firm Altor.
GIC and Macquarie are interested in selling a $2 billion stake in EDC Philippines, according to sources
Two sources familiar with the matter have confirmed that Macquarie and GIC are considering selling their roughly 30% stake in Energy Development Corp. (EDC) of the Philippines, a deal which could bring in $2 billion. Sources who declined to identify themselves because the discussions are private said that they were in preliminary discussions with advisors, and that no decisions had been taken.
