Oil & Gas

Natural Gas

Natural Gas

EUROPE GAS - Prices down on warmer weather and eyes on Trump tariff plan

The Dutch and British gas price fell on Wednesday morning, as the warmer weather forecasts reduced demand. Meanwhile, the market closely monitors Trump's "Liberation Day tariff plan". LSEG data shows that the Dutch front-month contract fell by 0.54 euros to 42.13 Euro per megawatt hour or $13.34/mmBtu at 0811 GMT. The Dutch day-ahead contracts was down by 0.72 euros at 41.95 Euro/MWh. The British day-ahead contracts was down 0.85 cents at 101.75p/therm. On Wednesday, U.S. president Donald Trump was ready to impose tariffs on all global trading partners. He would likely increase costs and invite retaliation. "Today's market could be...

Oil & Gas Equipment

ISS, a proxy advisor, recommends voting for the re-election BP executives and board members

According to a document obtained by, Institutional Shareholder Services Inc. (ISS), a proxy advisor, recommends that shareholders vote for the reelection of BP’s board and management during the annual general meeting on April 17. BP's stock has performed worse than rivals Shell and Exxon over the past five years. Investors have blamed this in part on 2020, the company’s plan to grow its renewable business and cut oil and gas production. After watering down this plan, BP accelerated the pivot back to hydrocarbons with a new strategy last month. Two shareholders said that Elliott Management, an activist shareholder with a...

Oil & Gas Refining

Shell trims its spending and increases shareholder distributions, while also aiming to sell more LNG.

Shell pledged on Tuesday to return more cash, mostly via buybacks. It also trimmed its budget for investment through 2028, and hinted at the possibility of selling or closing certain of its chemical assets. Oil and Gas Major raised shareholder distribution target from 30%-40% to 40%- 50% of cash flows from operations. The world's largest liquefied gas (LNG), trader, also stated that it aimed to increase LNG sales by 4-5% annually over the next five-year period and production by 1% per year while maintaining oil output at 1.4 million barrels a day. Shell predicts that global demand for natural gas...

Refined Products

South Korea hosts Alaska Governor and energy team amid talks of gas pipeline

Alaskan state officials, including the governor and energy officials, visited South Korea to discuss energy collaboration on Tuesday. This was in response to President Donald Trump's call for U.S. ally countries to join an stalled pipeline project. The American Chamber of Commerce in Korea said that the Governor Mike Dunleavy delegation included officials from the Glanfarne Group, which is a partner in a project to transport natural gas from Alaska's remote northern region via a $44-billion pipeline, and the state agency for gas. Dunleavy and South Korean Industry Minister Ahn duk-geun discussed energy issues including the Alaska LNG project and...

Crude Oil

OPEC+ announces new plan to reduce oil production in order to compensate for the overproduction

OPEC+ released a new schedule on Thursday for seven members nations to continue to cut oil production to compensate for pumping over agreed levels. This will be more than the monthly production increases the group plans to implement next month. According to a table posted on the OPEC website, the plan calls for monthly cuts between 189,000 barrels a day and 435,000 bpd. The planned cuts will last until June 20,26. OPEC+ (which includes OPEC, Russia, and other allies) has agreed to a series steps to support the global market. Since 2022, they have cut their output by 5,85 million...

Crude Oil

Alaskan officials seek Asian investors as Trump touts LNG

Alaska's Governor and State Representatives will be visiting Japan and three other Asian Countries starting this week in order to court investors for the natural gas project that President Donald Trump claims could pump trillions into the U.S. Tim Fitzpatrick, spokesperson for the Alaska Gasline Development Corporation and Glenfarne Group, said that officials from both organizations will be visiting allied Asian nations "to inform industry leaders about Alaska LNG's competitive advantages and economics", and to discuss possible opportunities. Officials want to ship liquefied gas from Alaska's remote northern region to Japan, South Korea, and Taiwan via a 1,300 km (800...

Oil & Gas Drilling

Executives say AI will lead to cheaper and faster oil production.

Executives at the CERAWeek Conference in Houston explained that artificial intelligence has accelerated oil and gas drilling, and prompted companies to reconsider areas they previously deemed too expensive or difficult to develop. AI was a major topic in several sessions of the largest energy conference. Oil producers are looking for ways to stay profitable amid a plummeting price of oil and concerns that U.S. president Donald Trump's tariffs may slow down global energy demand. Ann Davies, BP’s senior vice-president of wells, revealed that the UK oil giant BP uses AI to predict problems and steer drill bits before they occur....

Renewable Energy

Commodities ignore Trump's noise and focus on fundamentals of trade: Russell

The best way to navigate the challenges that the U.S. president Donald Trump's inconsistent and erratic trade policies are posing for the global commodity markets is to ignore the noise and concentrate on the fundamentals. While the media focuses on every headline-grabbing announcement or social media post regarding new and retaliatory duties from the U.S. president and his administration the commodity markets continue to do what they have done in the past: adapt to rapidly changing conditions. It's important to distinguish between commodities that are already affected by Trump's policies and those likely to be impacted in the future. There...

Oil & Gas Equipment

Continental Resources, a US-based producer, will help Turkey develop its shale gas fields

On Wednesday, Turkish Energy minister Alparslan Bayraktar announced on the social media platform X that TPAO, Turkey's national oil company, had signed a joint-venture agreement with U.S. producer Continental Resources for the development of shale deposits in Diyarbakir Basin. This cooperation will contribute greatly to our goal to bring Turkiye’s oil and natural gas resources into our economy. "I hope that this agreement will benefit all parties, as it opens up a new phase in Turkiye's exploration," he wrote in the blog. The Turkish oil and gas industry is not very large. Continental Resources CEO Doug Lawler stated in an...

Energy Markets

Ontario Premier says he won't back down until Trump's tariffs have been removed

On Tuesday, the Premier of Ontario who imposed a 25 percent surcharge on exports of electricity to the United States said that he wouldn't back down until U.S. president Donald Trump removed his tariffs against Canadian imports. Doug Ford reiterated his threat from Monday and said that he wouldn't hesitate to reduce the supply if necessary. Ontario exports electricity to 1.5 million homes across New York, Minnesota, and Michigan. We will not retreat. We will not back down. Ford apologized to the American public for President Trump's unprovoked attacks on our country. This was shortly after Trump announced he would...

Fossil Fuels

Arbitration to resolve dispute over Guyana energy project

The government announced on Thursday that an international arbitration court would hear the dispute between Guyana, a consortium headed by Lindsayca of the United States and a consortium awarded a contract to build a gas-fueled plant and a plant for natural gas liquids. The consortium says it was late in gaining access to the site, and that this has caused construction to be delayed by about three months. In a press release, the Energy Ministry said that the International Chamber of Commerce would hear from the Guyana government, Lindsayca, and CH4 Systems regarding the delays. The project will lower the...

Natural Gas Utilities

US approves LNG export extension for Golden Pass

The U.S. Department of Energy announced on Wednesday that it had approved a permit extension for exports of natural gas liquefied from the Golden Pass LNG LLC, a joint venture between QatarEnergy ExxonMobil, which is being built in Texas. The $10 billion Sabine Pass project, currently under construction in Texas, will be able to export LNG to major markets in Asia and Europe with the approval of this extension. Exports could start as soon as this year. The DOE stated that it would become the ninth major export terminal in the United States once built. QatarEnergy holds 70% and ExxonMobil...

Environment

Climate Change

The EU Parliament has voted to freeze sustainability regulations

The European Union gave itself more time on Thursday to negotiate changes that would exempt smaller companies from the sustainability reporting requirements, which European industry claims put them at a disadvantage. In February, the European Commission proposed legal changes that it called "Simplification Omnibus", which would exempt thousands smaller European companies from EU sustainability reporting requirements. The EU responded to the complaints of industry in Europe that it could not compete with its rivals from China and the United States where President Trump has rolled back regulations and imposed tariffs on imported goods. Negotiations between the European Parliament, member states...

Energy Markets

Fuels and carbon dioxide are the main cause of forward curve contracts falling.

European forward curve contracts fell on Thursday, following lower gas and carbon prices. This was after President Donald Trump announced sweeping new tariffs that could cause concern in the manufacturing industry. Analysts at Energi Danmark say that the European carbon market has a bearish outlook, as tariff concerns, uncertainties about possible market reforms, and technical signals are all contributing to a negative trend. Further price drops should be expected. They said that further price drops should be expected on Thursday as part of a general downward trend. "The (power) market is likely to follow the fuels and carbon markets down....

Environment

Floods 'generational in nature' to hit US Midwest and South

The National Weather Service issued a warning on Thursday about "generational" flooding in the Southern and Midwestern United States. Storms tore across the country, from Texas up to Michigan, dropping hail and causing tornadoes. On Wednesday, at least 19 tornadoes hit, destroying houses and businesses and injuring eight people. Hundreds of thousands were left without power. The NWS stated that this was only "the beginning" of a potentially historic and multi-day heavy rain event. Arkansas, Missouri Tennessee and Mississippi are facing the threat of "generational flooding event". Some locations could see up to 15 inches (38cm) of rain before the...

LNG

Pollution

Pollution

South Africa grants Eskom coal plants limited emissions exemptions

The environment minister announced on Monday that South African coal-fired electricity stations had received some exemptions from the air quality laws, and regulations aimed at reducing harmful emissions. However, he stressed that these measures were not a "blanket respite". The government struggles to find a balance between the calls to reduce carbon emissions and to stop them and the need to supply electricity to Africa's largest economy which is stagnant due to power outages. Eskom, the power utility that generates South Africa's majority of electricity from its fleet of coal-fired plants, applied to exempt 8 of these plants from air...

Pollution

South Korea uses weather break to try and contain deadly wildfires

The light rain brought some relief to South Korean authorities who are battling the worst wildfires in country history. Firefighters were exhausted and made another effort on Friday to control blazes that stretched 70 km (44miles). In the last week, strong winds from central Uiseong County to the coastal areas have caused fires that have burned more than 45,000 ha (111,197 acres). At a press briefing, Lim Sang Seop, Korea Forest Service Minister, said: "Conditions have improved and we still have a chance. We are using all our resources to do everything we can to put out the fires." Uiseong...

Pollution

Just Stop Oil, a UK-based climate protest group, has announced that it will cease direct action.

Just Stop Oil in Britain, which has been known for its high-profile actions, including throwing soup on a Van Gogh picture and disrupting sports and theater events, announced Thursday that they would be ending their direct action campaign. The group that has been campaigning for Britain to stop extracting oil and gas in 2030, and which over the past few years has become the most well-known protest organisation of the country, announced it would "hang up the hi-vis" at the end April. In recent months, activists of the group have painted the grave of Charles Darwin, British naturalist, at Westminster...

Climate Change

The US Supreme Court has declined to hear a novel climate change case brought by youth

The U.S. Supreme Court rejected on Monday a bid from 21 young people who wanted to bring back a novel suit claiming that the U.S. Government's energy policy violates their right to be protected against climate change. The justices refused to hear the appeals of the youth activists against a ruling by the 9th U.S. Circuit Court in San Francisco. Circuit Court of Appeals directed a federal judge to dismiss the case in Oregon after finding that they lacked standing to sue. The verdict marks the end to Juliana v. United States. It was one of the most long-running climate...

Pollution

The US Supreme Court has declined to hear a novel climate change case brought by youth

The U.S. Supreme Court rejected on Monday a bid from 21 young people who wanted to bring back a novel suit claiming that the U.S. Government's energy policy violates their right to be protected against climate change. The justices refused to hear the appeal by the youth activists of a ruling by the 9th U.S. Circuit Court in San Francisco. Circuit Court of Appeals directed a federal judge to dismiss the case in Oregon after finding that they lacked standing to sue. The verdict marks the end to Juliana v. United States. It was one of the most long-running climate...

Pollution

EU delays 2040 climate target proposal beyond Q1

It said that the European Commission had delayed its plan to present a new EU Climate Target in the first quarter this year. This has pushed back the expected launch of a commitment to reduce emissions by 2040. Last month, Brussels announced that it would amend EU's Climate Law this quarter. This long-planned change would establish a 2040 goal to keep the countries on track with their 2030 emission goals and the bloc’s aim of zero net emissions by the year 2050. The proposal has met with opposition from some states and legislators who are unwilling to support the Commission's...

Electric Utilities

Iranians are fighting a 'water crisis'

Iranians are urged to reduce water consumption as dam levels drop Farmers in the United States are suffering from a nationwide water shortage The shortfall is similar to an overdrawn account By Sanam Mahoozi The water levels in the dams surrounding the capital are at an all-time low. Water rationing is expected this summer, as the country wilts from a severe drought. As water levels decline, lakes are disappearing and farmers are struggling. In cities, huge sinkholes appear. The kitchen taps often run dry, and students are concerned about the washing. Last week, the managing director of Tehran’s Water and...

Pollution

UN weather agency: Record temperatures in 2024 accelerate sea level rise and ice loss.

The U.N.'s weather agency said that record levels of greenhouse gases have helped to bring temperatures to their highest level ever in 2024. They also accelerated glacier and sea-ice loss, raised sea levels, and brought the world closer towards a critical warming threshold. The World Meteorological Organization's (WMO) annual climate report stated that the average temperature was 1.55 degrees Celsius (2.79 degrees Fahrenheit), above pre-industrial levels, last year. This is 0.1C higher than the previous record set in 2023. In the 2015 Paris Agreement, countries agreed to limit temperature rises to 1.5C over the average of 1850-1900. WMO stated that...

Pollution

Study: Europe should focus on sustainable chips production as sector emissions increase

Interface, a think-tank, said that the European Union must focus on its lower-emission semiconductor manufacturing to reduce pollution, as the production of computer chips for AI is increasing rapidly. Interface, in a report on pollution trends within the chemical-intensive sector of semiconductors published Monday, found that the energy consumption had increased 125% worldwide over the last eight years. This was due to both the increase in output and the fact that cutting-edge chip manufacturing caused more emissions. Chips that are "older" or "legacy", such as those found in automobiles, power grids, and industrial applications are less polluting. In an email,...

Pollution

After appeals are dismissed, the UK's Thames Water Debt Lifeline will proceed.

Thames Water, Britain’s largest water supplier, announced on Monday that its 3 billion pounds ($3.9 billion) debt-lifeline will go ahead, after all appeals were dismissed. This allows the company to avoid an immediate state rescue. Thames Water had two appeals to make after obtaining court approval for a new loan in Feburary. However, both were denied by the Court of Appeal in a sealed decision on Monday. The reasons were stated in the sealed order and would be revealed in the "due process" judgment. A group of junior creditor, who argued that the rescue favored senior creditors, as well as...

Pollution

The sewage that contaminates Britain's waterways and oceans is a stain.

Under the dark seas of southern England, 400 millions mussels are encrusted on ropes that hang from buoys scattered over an area as large as the largest airport in the country. The Holmyards built Europe's biggest offshore mussel farming in Lyme Bay. They believed that it would be able to handle the millions of gallons sewage that is pumped into UK water each year. Even if the bacteria are far away, they can still pollute the water and block exports for several weeks to Europe. This could damage the business of a company that produces sustainable food. Sarah Holmyard, the...

Energy Markets

European truck shares drop on U.S. reversal of electric vehicle rules

The shares of European truck manufacturers fell Thursday after the U.S. Environmental Protection Agency announced that it would begin efforts to reverse Biden's administration's vehicle emission rules. Analysts say that trucking fleet companies had expected to "pre-buy", trucks before the new rules came into effect, which would have driven up demand. This is unlikely to happen now. Pal Skirta, an analyst at Metzler, said that the market is likely to assume the tighter regulations are going to be reversed. This means there's no expectation of a surge in pre-purchases for the second half 2025-2026. Skirta stated that this was the...

Wind Farms

Wind Farms

Philippine 500MW OW Project Cleared for Pre-Development Activities

Nexif Ratch Energy has been granted Pre-Development Environmental Compliance Certificate (Pre-Dev ECC) for its 500MW San Miguel Bay offshore wind project in the Philippines.The certificate was granted by the Philippines’ Department of Environment and Natural Resources (DENR) in accordance with its administrative order and the Philippine Environmental Impact Statement System (PEISS).The Pre-Dev ECC approval paves the way for crucial pre-development activities, including offshore geotechnical and geophysical investigations, wind and metocean measurements, as well as environmental and social baseline and assessments.These activities are essential for understanding the project site’s characteristics, ensuring that development decisions are informed and sustainable.In December 2024, the...

Renewable Fuels

Netherlands Looks Into Reintroducing OW Subsidies to Encourage Bidders

The Dutch government is looking to reintroduce subsidies in its tenders for offshore wind farms, as prospective bidders are backing out of the current "zero subsidy" model.The Netherlands has managed to attract builders for its offshore wind farms without offering subsidies on electricity prices since 2017, but interest has waned due to rising construction costs and uncertainty over power prices.Interest for the upcoming tender for three sites in the North Sea is "very low", the Dutch climate ministry said on Monday.Energy firms Eneco and Orsted have already said they will not join the tender in September, as they see no...

Power Markets

Dutch consider new subsidies for offshore Wind as bidders opt-out

The Dutch government wants to introduce subsidies into its offshore wind farm tenders, because bidders have withdrawn from the current "zero-subsidy" model. Since 2017, the Netherlands has been able to attract builders to its offshore wind farms, without subsidizing electricity prices. However, interest has decreased due to increasing construction costs and uncertain power prices. The Dutch Climate Ministry said that interest in the upcoming auction for three sites on the North Sea was "very low". Eneco, Orsted and other energy firms have already announced that they will not participate in the September tender because they do not see a viable...