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Indonesia will increase palm oil export tax if it abandons its plan to introduce B50 Biodiesel in this year.
Yuliot Tajung, the deputy energy minister, said that Indonesia had scrapped plans to raise the mandatory biodiesel mix to 50% in 2019. Instead, it will maintain the current blend of 40% palm oil based fuel and 60% diesel. Indonesian energy minister had previously planned to implement…
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BP warns of up to $5 billion in impairments due to energy transition and weak oil trading
BP said that it expects to book between $4 and $5 billion of impairments during the fourth quarter. These are mainly related its energy transformation businesses. It also noted a weak oil trading. Under the new leadership, Chair Albert Manifold has said that BP’s portfolio needs to be simplified.
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RWE and KKR announce long-term partnership for British offshore wind projects
RWE announced on Wednesday that it had agreed to sell a?stake in its Norfolk Vanguard West & East offshore wind project to investor KKR. The German utility was one of the winning bidders in a landmark British renewables auction. The deal is expected to close this summer. No financial details have been disclosed.
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French spot drops as expected wind and nuclear output increases
French spot electricity rates for Thursday dropped as the wind energy supply in France is expected to increase amid lower demand forecasts. One nuclear reactor will also be expected to re-start. By 0927 GMT, the French baseload for the day ahead fell by 15.6% and was 91?euros (106.02 dollars) per megawatt-hour (MWh).
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Climate activist shareholder group pushes BP, Shell on plans for declining oil demand
The group Follow This, a climate activist shareholder group, and'more than '20 other investors filed resolutions on Wednesday calling on BP to explain how it will generate value if the global demand for gas and oil declines. The resolutions are a strategic change on the part the Dutch activist group.
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Petrofac UK seeks to reach a compromise with creditors on asset sales
Petrofac, a British oilfield service provider, announced on Wednesday that its creditors would meet later this month to vote…
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Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources said on Wednesday that Chevron would receive an expanded Venezuela license this week from the U.S. Government.
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US permits talks about Lukoil’s foreign assets to continue until February 28,
The U.S. Department of Treasury on Wednesday extended the license for companies to 'talk' with Russian energy giant Lukoil…
Latest news
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Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources told us on Wednesday that Chevron will receive a Venezuela license extension from the U.S. this week.
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Saudi Aramco signs long-term supply agreement with Commonwealth LNG
Three people with knowledge of the deal say that 'Saudi Aramco signed a contract with Commonwealth LNG for the U.S. LNG company…
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US Judge to make a quick decision on Equinor's challenge to Trump offshore Wind Pause
A U.S. Judge said Wednesday that he will rule soon on whether he will allow Norwegian offshore wind developer Equinor, to…
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Sources say that the Italian government is poised to support a new mandate for Eni CEO
Three sources said that Italy's prime minister Giorgia Meoni was ready to support Eni CEO Claudio Descalzi in a bid to secure…
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Climate activist shareholder group pushes BP, Shell on plans for declining oil demand
The group Follow This, a climate activist shareholder group, and more than?20 investors filed resolutions on Wednesday asking…
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Sources say that the Brazilian police have issued warrants to businessmen involved in an investigation into Banco Master.
Two sources familiar with this matter said that the Brazilian federal police issued search and seizure warrants on Wednesday…
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Sources say that the Italian government is poised to support a new mandate for Eni CEO
Three sources said that Italy's Prime minister Giorgia Meoni was ready to support Eni CEO Claudio Descalzi in a bid to extend…
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Masdar and EPCG in Montenegro to explore a joint venture for renewables
Montenegro’s state utility EPCG, and United Arab Emirates’ state-owned Masdar will explore establishing a joint venture to…
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US court will weigh New York's challenge to Trump's offshore wind halt
On Wednesday, a U.S. court will decide whether or not to allow Norwegian offshore developer Equinor the opportunity to resume…
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VEGOILS-Palm extends losses as Indonesia scraps B50 biodiesel plan
Malaysian palm futures reversed gains earlier to close lower?on Wednesday for the second consecutive session, after Indonesia…
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Globe and Mail reports that Canadian Natural is in negotiations to purchase Tourmaline's Natgas portfolio.
Canadian Natural Resources has entered into negotiations to buy a portfolio of natural gas properties worth more than $1…
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Viaro Energy's purchase of Shell and Exxon UK gas assets fails
Shell and Exxon Mobil halted the sale of natural-gas assets in Britain's Southern North Sea to a British oil producer, Viaro Energy.
Shale Oil & Gas
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Globe and Mail reports that Canadian Natural is in negotiations to purchase Tourmaline's Natgas portfolio.
Canadian Natural Resources has entered into negotiations to buy a portfolio of natural gas properties worth more than $1…
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Viaro Energy's purchase of Shell and Exxon UK gas assets fails
Shell and Exxon Mobil halted the sale of natural-gas assets in Britain's Southern North Sea to a British oil producer, Viaro Energy.
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BP warns of up to $5 billion in impairments due to energy transition and weak oil trading
BP said that it expects to book between $4 and $5 billion of impairments during the fourth quarter. These are mainly related…
LNG
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Asia Spot LNG Prices Rise with South Korean Demand
Asian spot liquefied natural gas prices edged up this week as forecasts for colder weather boosted demand in South Korea…
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US Natural Gas Futures Rise Alongside LNG Export Demand
U.S. natural gas futures rose 4% on Tuesday, boosted by record gas flows to liquefied natural gas export plants and forecasts…
Renewables
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VEGOILS-Palm extends losses as Indonesia scraps B50 biodiesel plan
Malaysian palm futures reversed gains earlier to close lower?on Wednesday for the second consecutive session, after Indonesia…
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RWE and KKR announce long-term partnership for British offshore wind projects
RWE announced on Wednesday that it had agreed to sell a?stake in its Norfolk Vanguard West & East offshore wind project to investor KKR.
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Indonesia will increase palm oil export tax if it abandons its plan to introduce B50 Biodiesel in this year.
Yuliot Tajung, the deputy energy minister, said that Indonesia had scrapped plans to raise the mandatory biodiesel mix to 50% in 2019.