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India, UAE Sign $3b LNG Deal, Boost Trade and Defense Ties
India signed a $3 billion deal on Monday to buy liquefied natural gas from the United Arab Emirates, making it the UAE's top customer, as the leaders of both countries held talks to strengthen trade and defence ties.The agreement was signed during a very brief two-hour visit to India by…
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Mitsui to consider smaller turbines and construction delay at Niigata Wind Farm
Mitsui & Co. and its partners, a Japanese trading company, are looking at using'smaller turbines' and delaying?construction of their offshore wind farm in?Niigata. The Mitsui consortium, including Germany's RWE, Osaka Gas and Osaka Gas, has won the development rights for the 684 megawatt (MW)…
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Palm up in anticipation of lower production and improved exports
The market for Malaysian palm oils futures closed higher on Tuesday as the anticipation of a sharp decline in production, and a stronger export demand, supported the market. The benchmark palm-oil contract for April delivery on the 'Bursa Malaysia Derivatives exchange gained 28 ringgit or 0.69% to 4,095 Ringgit ($1,010.61) per metric ton.
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Western Midstream renegotiates Occidental's contracts in the Delaware Basin
Western Midstream Partners, the operator of a pipeline in Delaware Basin, announced on Tuesday that it had renegotiated contracts for its Delaware Basin assets with Occidental Petroleum. The new contract provides a "simpler fixed fee structure" for natural gas gathering. Western Midstream…
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Galp is focusing on upstream growth in Brazil and Namibia with its refining spin-off.
The co-chief executive of Galp, Joao diogo marques da Silva, said on Tuesday that the company will "focus" on growing its upstream oilfields business in Brazil and Namibia. It may also list some of its newly created downstream business within a few years. The company announced earlier this month that it was in discussions with Moeve…
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Australian state approves Kimberley fracking plan, drawing anger
The state's environmental protection agency approved a controversial fracking proposal in Western Australia's remote, ecologically…
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EUROPE GAS-European gas prices rise on low storage levels and weak LNG flows
Dutch and British gas contract prices rose on Tuesday. Attention was once again focused on the gas storage which is now "half full"…
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Oil prices and earnings in the Gulf region are mixed.
The major Gulf stock exchanges were mixed early on Tuesday as investors awaited earnings and weighed the weaker oil price…
Latest news
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Palm prices rise on the back of reduced production and improved exports
The price of palm oil futures in Malaysia rose on Tuesday, as traders anticipated a sharp drop in production and stronger demand for exports.
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Origin Energy, Australia's coal-fired power station in NSW, will continue to operate until 2029
Origin Energy announced on Tuesday that it will extend the operation all four?units?of its Eraring Power?Station?toApril…
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Inpex to submit a revised environmental plan for a large CCS project offshore Australia
A company spokesperson said that Inpex, Japan's carbon capture and storage project (CCS), which is a proposed 8 million ton…
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Maha Capital asks for US approval to purchase stake in Venezuelan oil company
Paulo Thiago Mendonca is the chairman of Maha Capital's board. He said that the United States has approved the acquisition…
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Official: Shell wants to exit Syria's al-Omar Oilfield, but US firms are interested in the sector.
Youssef qeblawi said that the head of Syria Petroleum Company Youssef qeblawi stated on Monday that Shell asked to withdraw…
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Heat inequality: A study measures the impact of climate change on Rio de Janeiro's favelas
Every summer, Michele Campos cries when the temperatures in Rio de Janeiro rise above 40degC. The cement in the favela Chapeu…
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Floods in Mozambique force thousands of people to flee, President cancels Davos trip
Witnesses and officials reported that severe floods in Mozambique caused by heavy rainfall forced thousands to leave their homes.
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Engie continues to invest in Middle East renewables, as the momentum in US and Europe slows
Engie has reached the 'financial close on a 1.5 Gigawatt solar park, its largest in the world, said the French utility on Monday.
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German Front-year is impacted by the warmer weather and tariff threats
Early trading on Monday saw forward-curve power contracts fall, following the decline in gas and carbon contracts due to…
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Mozambique president cancels Davos trip due to severe floods
Mozambique President Daniel Chapo cancelled his trip to Davos for the World Economic Forum this week because of severe flooding…
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China's crude and gas production, refinery throughput in 2025 will reach new heights
Government data released on Monday showed that China's crude oil production and refinery throughput will both reach new highs in 2025…
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Philippines discovers first natural gas in over a decade
The Philippine President Ferdinand Marcos Jr announced on Monday that gas and condensate were found in a well near the existing 'Malampaya' gas field…
Shale Oil & Gas
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Floods in Mozambique force thousands of people to flee, President cancels Davos trip
Witnesses and officials reported that severe floods in Mozambique caused by heavy rainfall forced thousands to leave their homes.
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Mozambique president cancels Davos trip due to severe floods
Mozambique President Daniel Chapo cancelled his trip to Davos for the World Economic Forum this week because of severe flooding…
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China's crude and gas production, refinery throughput in 2025 will reach new heights
Government data released on Monday showed that China's crude oil production and refinery throughput will both reach new highs in 2025…
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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Heat inequality: A study measures the impact of climate change on Rio de Janeiro's favelas
Every summer, Michele Campos cries when the temperatures in Rio de Janeiro rise above 40degC. The cement in the favela Chapeu…
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Engie continues to invest in Middle East renewables, as the momentum in US and Europe slows
Engie has reached the 'financial close on a 1.5 Gigawatt solar park, its largest in the world, said the French utility on Monday.
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Smulders to Deliver Jacket Foundation for French Offshore Wind Substation
Engineering firm Smulders has been selected by Chantiers de l’Atlantique to execute the engineering, procurement and construction…