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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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Kazakhstan's Tengiz Oil Field to Remain Shut for Another 7-10 Days
Oil production at Kazakhstan's vast Tengiz oil field, one of the world's largest, could be halted for another 7-10 days after shutting down on Sunday, cutting crude exports via the Caspian Pipeline Consortium, three industry sources told Reuters.The field's operator Tengizchevroil (TCO) said on Monday that due to power supply problems…
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Halliburton makes a move towards possible Venezuelan return by posting vacancies on its job board
Halliburton, an oilfield services company, is looking for resumes to fill a variety of positions in Venezuela, including technicians and engineers, according to an advertisement on a job board dated 16 January. This could indicate a return to the South American nation. The posting comes just weeks after U.S.
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Palm extends its gains on expectations of strong demand
Malaysian palm futures rose on Wednesday due to a?anticipated higher demand for the Lunar New Year holiday. By midday, the…
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Sources say that Cenovus is considering selling assets in Alberta worth around C$3 Billion.
Two sources with knowledge of the matter have confirmed that Canadian oil producer Cenovus is looking to sell conventional…
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Lithuanian president: Joint security agreement could end Greenland dispute
Gitanas Nuseda, the Lithuanian president, said that an agreement on the sharing of responsibility for security in the 'Arctic…
Latest news
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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…
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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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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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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…
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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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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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US Natural Gas Futures Rise as Forecasts Predict Colder Weather
U.S. natural gas futures rose on Friday in thin-volume trading and were on track for a weekly gain, ending a two-week losing streak…
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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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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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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.