Nigeria's President Bola Tinubu will commission 2 gas processors and a crucial pipeline as part of continuous moves to use the country's huge gas reserves and end routine flaring, his office said on Friday. Nigeria, which holds Africa's biggest gas reserves of more than 200 trillion cubic feet, flares - or burns off - gas from its oil fields due to a lack of processing infrastructure and capital constraints. The projects have actually been built by state oil company NNPC Ltd and its joint partners Seplat Energy and SEEPCO, presidential representative Ajuri Ngelale said in a declaration, without defining the...

Asian spot melted natural gas (LNG) rates rose this week on forecasts for greater cooling need this summertime and tracking a rally in European gas rates underpinned by supply concerns due to Middle East stress and weak point in U.S. feedgas need. The average LNG price for June delivery into north-east Asia increased to $10.40 per million British thermal units ( mmBtu), from $10.20/ mmBtu in the previous week, industry sources estimated. Uncertainty over the Middle East dispute and differing U.S. feedgas rates stay a key focus of attention for traders, supporting rates at a time of otherwise bearish basics,...

Chevron Australia is working to resume full production at its Hag gas facility after a mechanical fault caused one melted gas (LNG). production train to go offline, a company spokesperson stated on. Friday. The turbine fault had actually taken place on April 30, the spokesperson. said. Repair activities have actually started and are anticipated to take a. number of weeks, the representative added without offering a. more specific timeframe. Domestic gas and the other two LNG trains at Gorgon are. unaffected and producing at full capacity. Gorgon exports LNG to consumers across Asia and produces. domestic gas for the Western...

Egypt's Gas Holding Company (EGAS) has actually struck a contract with Norway's Hoegh LNG to lease the Hoegh Galleon drifting unit for liquefied natural gas (LNG), the Egyptian petroleum ministry stated on Thursday. The drifting storage and regasification system will be leased to secure additional needs for domestic intake during the summertime, the ministry said in a statement. Hoegh LNG stated the unit would be leased for an interim period from June 2024 to February 2026 and deployed in Ain Sokhna on the Red Sea. The aim of the arrangement was to support energy security in Egypt, it stated in...

Uniper, the biggest corporate victim of Europe's energy crisis, is looking to the courts to solve the concern of its inactive Russian gas supply contracts that could prevent investors once it fully go back to the stock market, 3 people familiar with the matter stated. In 2022, the German government saved Uniper, once Gazprom's biggest European consumer, after Uniper was required to pay high costs to buy products to make up for lost Russian gas when Gazprom stopped shipments. The German group has actually since changed Russian gas volumes completely through other suppliers. Gazprom contracts, however, are still lawfully in...

Leader Natural Resources on Thursday reported a lower firstquarter earnings, weighed down by higher production expenses and weak natural gas costs. Earlier in the day, the U.S. Federal Trade Commission offered the consent to Exxon Mobil's $60 billion purchase of the company, but disallowed Leader's former CEO, Scott Sheffield, from joining Exxon's board on allegations he attempted to collude with OPEC to raise oil rates. Sheffield retired as Leader's CEO on Dec. 31, however continues to serve on its board and was because of sit on Exxon's. board when the acquisition closed. Exxon stated it prepares to close the all-stock...

Electric and gas energy firm Consolidated Edison beat Wall Street estimates for firstquarter profit on Thursday, helped by higher electrical energy rates and lower operating costs. On an adjusted basis, the New York-based business stated it earned $2.15 per share in the January-March quarter, compared with analysts' price quote of $1.88 per share, according to LSEG data. The business also reaffirmed its full-year earnings projection of $5.20 to $5.40 per share. Consolidated Edison offers electrical and gas services to about 5.1 million clients through its subsidiaries, primarily in some districts of New york city City - Manhattan, the Bronx, parts...

Shell reported firstquarter earnings of $7.7 billion on Thursday, going beyond expectations as disruption to Red Sea shipping and Russian refining increased oil trading and melted natural gas (LNG). production rose. The business said it will buy back an even more $3.5 billion of. its shares over the next three months, at a similar rate to the. previous quarter. Its dividend remained the same. Shell's cashflow rose by 6% from the previous quarter to. $ 13.3 billion, reflecting strong operational performance,. especially in the LNG department, which together with trading. assisted offset a decrease in gas prices that weighed on....

Southern Co's electricity sales to information centers and other commercial customers, as well as a. growing pool of consumers in the U.S. South, helped drive a. firstquarter earnings beat, company executives stated on Thursday. Electrical power sales to data centers were up 12% in the very first. 3 months of 2024, compared to the same duration last year,. with about a quarter of the development originating from brand-new developments. versus existing centers ramping up, Southern Co executives said. on a profits call. Southern Co, based in Atlanta, stated its business was. also improved by a fast-growing population in its territories...

Pipeline operator Targa Resources beat Wall Street estimates for firstquarter core revenue, benefitting from higher volumes of natural gas liquids ( NGL) transferred through its system, sending its shares up about 1% in the afternoon trade. NGL pipeline transport volumes were up nearly 34% in the January-March quarter compared to in 2015, while NGL sales rose about 22% to 1.23 million bbl/d in the quarter from a year previously. Unrefined rates gained in the January-March quarter, as production curtailments from OPEC+, Russian refinery interruptions and the Middle East dispute raised concerns over materials, helping oil and gas transportation companies like...

Canada's biggest oil and gas manufacturer Canadian Natural Resources is looking at chances to substantially increase bitumen output at its primary oil sands mine, the business said on Thursday. President Scott Stauth stated the company is considering a. 195,000 barrel-per-day (bpd) growth at its Horizon mining and. upgrading plant in northern Alberta through new extraction and. treatment procedures. Formerly the business stated it might add. 75,000 bpd of bitumen, however Stauth stated Canadian Natural had been. able to improve engineering and scale up the processes. Horizon currently has capacity to produce about 255,000 bpd. of artificial crude oil made from...

Kremlinowned gas giant Gazprom stated on Thursday it plunged to a net loss of 629 billion roubles ($ 6.9 billion) in 2023, its very first yearly loss in more than twenty years, amid dwindling gas trade with Europe, as soon as its main sales market. The outcomes highlight the significant decrease of Gazprom, which given that the collapse of the Soviet Union has been one of Russia's. most powerful companies, frequently used as an utilize to solve. disagreements with its neighbours, such as Ukraine and Moldova. Experts had actually expected earnings of 447 billion roubles,. according to Interfax news company....

Britain's oil and gas regulator on Friday awarded 31 new hydrocarbon expedition licences as part of efforts to extend production in the ageing basin. The licences become part of the third and last tranche of the North Sea Transition Authority's (NSTA) 33rd oil and gas licensing round, which has actually granted a total of 82 licenses to 50 business. The round has so far licensed expedition activity with the potential to add around 600 million barrels of oil equivalent ( mmboe) up to 2060, or 545 mmboe by 2050. That has actually angered ecological groups who have argued that the...

Britain's most current climate action strategy is unlawful since ministers were not informed of the threat that key policies might not be delivered, London's High Court ruled on Friday, in an additional challenge for Britain as it browses the move towards net zero. The court's judgment-- that carbon budgets set by the federal government in 2023 to fulfill the UK's target of net absolutely no emissions by 2050 were set without proof they could be achieved-- implies Britain will have to submit a new plan for a 2nd time. Buddies of the Earth, ClientEarth and the Good Law Project took...

The European Union and a. worldwide basic setter concurred joint guidance on Thursday to. reduce pricey overlaps for thousands of global. companies that need to adhere to two sets of disclosures on how. climate modification affects their business. Authorities worldwide are presenting stricter. climate-related disclosures for companies, replacing a patchwork. of voluntary private-sector standards, to punish. greenwashing, or pumping up green qualifications to attract. financiers. It is very important that reporting? frameworks in different. jurisdictions are interoperable with each other to decrease the. reporting problem for EU companies, EU monetary services chief. Mairead McGuinness said in a declaration. At the...

London Metals Exchange( LME) on Wednesday introduced a consultation requiring manufacturers of aluminium brand names deliverable against its contracts to submit carbon emissions data by March 2025. The proposal aims to align aluminium market with the requirement of Europe's Carbon-Border Adjustment Mechanism ( CBAM) which uses a carbon-related cost to specific imported products. LME-approved manufacturers of main aluminium, aluminium alloy, North American Unique Aluminium Alloy Agreement ( NASAAC)) will have to send both Scope 1 and 2 emissions information to the exchange. Direct emissions from production of aluminium, consisting of fuels utilized in melting heaters, are under Scope 1, whereas...

Colorado's oil producers are bracing for a new fee associated with their production as part of a compromise the industry reached with environmental groups that were promoting more rigid regulations on drilling. Colorado, the 4th largest oil producing state in the U.S., is a regular battleground for the oil market and environmentalists, who over the years have pushed for harder guidelines on nonrenewable fuel source production. The offer reached today will eliminate numerous proposed ballot measures targeting the fossil fuel industry ahead of this year's election, including one that would have stopped drilling in summertime. As part of the compromise,...

Energy ministers from the Group of 7 (G7) significant democracies settled on Tuesday to end using coal in power generation during the very first half of the next decade, however offered freedom to Germany and Japan whose economies depend upon the fuel. The agreement is a more step in the direction indicated last year by the COP28 United Nations climate summit to reduce usage of nonrenewable fuel sources, of which coal is the most contaminating. It is the first time that a path and a target has been set on coal, said minister Gilberto Pichetto Fratin, who chaired the two-day...

Half of the Chinese cities targeted by the government for air quality improvements have missed their targets as the nation prioritised strengthening the economy over cutting toxins, research study by a not-for-profit research study organisation discovered. China normally releases a winter season air quality plan every autumn, due to the fact that coal heating and atmospheric conditions lead to dirtier air during the winter season. However the strategy was not implemented in 2022, according to the Finnish-based Centre for Research on Energy and Clean Air (CREA). and was only reintroduced part-way through the 2023-2024 winter. season. The environment ministry might...

British water sports groups have joined forces to contact the federal government to cleanup rivers and seas, blaming the nation's sewage crisis for causing health problem and cancelling occasions. Raw sewage has been discarded into rivers and seas increasingly more regularly in recent years by public utility, stimulating anger in Britain, where citizens blame a privatised system that prioritises revenue over investment in infrastructure. The pollution is making swimmers, rowers, sailors and other users of British waters ill, state seven nationwide governing bodies of water-based sports, consisting of the Fishing Trust, British Rowing and Swim England. We are promoting for...

With the world still divided over how ambitious its first plastics treaty should be, nations are considering introducing a series of smaller sized meetings before a hopedfor contract in December. Countries still require to select whether the treaty should call for lowering the quantity of plastics produced. Throughout the recently of settlements in Canada's capital, Ottawa, more than 60 countries demanded the treaty include production caps. The European Union along with Rwanda, Peru, Norway, Ghana, and other governments calling themselves the High-Ambition Union said arbitrators must spend the next few months studying whether some kinds of plastics can be decreased....

Energy ministers from the Group of Seven wealthy nations meeting in Italy are discussing setting a typical target date of 2035 to close down their coalpowered power plants, a source near the matter told on Monday. A contract on coal would mark a substantial action in the direction indicated by the COP28 United Nations climate top in Dubai last year to shift far from nonrenewable fuel sources, of which coal is the most contaminating. Diplomatic arbitrators for the G7 nations - Italy, the United States, Britain, France, Germany, Canada and Japan - gone over the concern until late on Sunday,...

Canada's Aamjiwnaang First Country stated a state of emergency due to a chemical release from INEOS Styrolution's plastic factory in Sarnia, Ontario, the Native group said. The Frankfurt-based company, a system of privately owned INEOS Group was released a compliance order by the provincial environment ministry on April 18 to examine the reason for the leak at its Ontario factory, which began previously in April. The state of emergency will stay in place unless the discharge of benzene drops to acceptable levels, the First Country said late Thursday. The company closed down its center on April 20 and the Ontario...

Canada's Aamjiwnaang First Nation stated a state of emergency situation due to the excessive release of harmful chemicals from INEOS Styrolution's plastic production plant, the Native group said. The Frankfurt-based business was provided a compliance order by the provincial environment ministry on April 18 to examine the reason for the leak at its Ontario factory, which started earlier in April. The state of emergency situation will stay in place unless the discharge of benzene drops to appropriate levels, First Nation said late Thursday. The company shut down its center on April 20 to conduct upkeep and the Ontario federal government...