Gas distributor GAIL India posted a larger-than-expected drop in quarterly profits on Tuesday. This was mainly due to lower gas marketing margins, and higher costs. GAIL, India’s largest natural gas distributor based on market share, reported a net profit after taxes of 20.49 billion Rupees ($240.1 millions) for the three-month period ended March 31, a decline of 5.9%. According to data compiled and analyzed by LSEG, analysts had predicted that profit would fall on average 3.1%, to 21.13 billion Rupees. Gas marketing, which accounts for the majority of revenue generated by the company through wholesale trading and distribution of natural...

Exxon Mobil announced on Wednesday that it had signed a long term agreement with Marubeni, a Japanese trading company, to supply the Japanese trading house 250,000 metric tonnes of low-carbon hydrogen annually. This is Exxon Mobil's first customer agreement signed for its planned facility in Baytown. Exxon has been working to build the largest low-carbon hydrogen facility in the world at its Baytown refinery and chemical complex. The project, which is experiencing delays, will now move forward. The clean fuel hydrogen can be made from natural gas. It produces water upon combustion. Ammonia is used to transport the liquid hydrogen....

APA Corp announced on Wednesday it would sell New Mexico Permian assets to focus on its core business. This was in an effort for the company to streamline its operations and concentrate on areas of strength. It also beat Wall Street's expectations for first-quarter profits. These assets, which generate about 12,400 barrels equivalent of oil per day (boepd), are less than 5% APA's overall Permian production. The company stated that the deal with Permian Resource is expected to close by the end of the second quarter and proceeds will be used to reduce the debt. This move comes after APA...

The U.S. Energy Information Administration announced on Wednesday that they estimate that the average number oil wells completed within 50 feet from each other simultaneously in the Lower 48 States has more than doubled since the last decade. The agency stated that the number of wells completed simultaneously per location has increased from 1 1/2 wells per location in December 2014 to over three wells per location in June 2024. This will allow operators to "accelerate production timelines and reduce costs per well." The EIA defines wells that are drilled within a 50-foot radius of each other as being at...

Singapore's energy regulator announced on Wednesday that the country had established a wholly government-owned company called Singapore GasCo, to centralise gas procurement and supply to the power sector of the city-state. Energy Market Authority (EMA), in a press release, said that the entity would also benefit from economies of scale, negotiate better gas contracting terms and procure gas from different sources. It would sign contracts for longer periods to ensure a more stable gas supply and price. Alan Heng was also named as Singapore GasCo CEO by the EMA. He was previously the Group Chief Executive of Singaporean LNG company...

In a presentation to analysts on Tuesday, German utility Uniper said that it had sold a portion of its future output of hydropower as part a hedge strategy. Uniper said that it had sold 35% (of its German hydropower production) for 2026, at an average price per megawatt-hour of 92 euros ($104.12), and 5% (2027), at an average rate of 86 euros/MWh. LSEG data revealed that the wholesale benchmark price of German power round-the clock from all sources in 2025 was 83.46 euro on Monday and 77.39 euro for 2027. These discrepancies are partly due to lower fuel prices in...

Two people who are familiar with the process said that LNG Canada had completed cooling down its Kitimat liquefied gas plant and was preparing to produce the first LNG at the plant in June. To ensure the production of super-cooled gas, cooling an LNG plant is essential. It's also a crucial step before starting operations. LNG Canada will be the first LNG export facility in Canada. It is expected to export 14 million metric tons per year (MTPA). LNG Canada confirmed on Saturday that the Maran Gas Roxana left the plant after delivering a shipment to the plant on April...

Coterra Energy, a U.S. producer of shale gas, reported an increase in its first-quarter profits on Monday. However, it said that due to the macroeconomic uncertainty they would reduce their annual budget for capital expenditures. The U.S. Energy Sector is preparing for possible fallout due to President Donald Trump's sweeping trade tariffs and a fierce trade war with China - factors that could decrease demand for oil and gas. Diamondback Energy, earlier today, also reduced its annual capital budget as well as production forecasts due to macroeconomic uncertainties affecting the global energy demand. Coterra CEO Tom Jorden said: "As we...

DTE Energy announced increased first-quarter profits on Thursday. This was aided in part by its strength in the gas and energy trading segment. It also said it expects tariff impacts to be manageable. DTE's $30 billion capital spending plan is expected to have a limited impact. The power industry has been bracing itself for potential tariff costs as a result of the U.S.-Canada trade war. DTE Energy has partnered with GM, Ford, and BMW in order to increase the use of renewable energy in Michigan. It also said that it has a margin risk between 3% and 4% due to...

Bloomberg News reported Monday that Woodside Energy was in discussions with an overseas division of Kuwait Petroleum about selling a stake in their Louisiana liquefied gas plant. The report was based on people familiar with the matter. Kuwait Foreign Petroleum Exploration is also looking at securing LNG from the project. Other companies are interested in both LNG and equity, according to the report. Woodside Energy and Kuwait Foreign Petroleum Exploration did not respond immediately to comments. Woodside, Australia’s largest gas producer, agreed earlier this month to sell a 40 percent stake in its Louisiana Liquefied Natural Gas plant to U.S....

The cap on domestic energy prices in Britain is expected to drop by around 9% this July, after wholesale energy costs fell amid the warmer weather conditions and U.S. tariffs announcements fuelled fears about economic growth. The government would welcome a reduction in the cap, as it is under pressure to keep its promise to reduce household energy costs. The benchmark British gas price has fallen by around 40% in the last few months as warmer weather has curtailed demand. In addition, the EU Parliament endorsed weaker storage regulations for gas and there are growing fears about a global trade...

CenterPoint Energy announced a decline in its first-quarter profits on Thursday. However, the U.S. utility increased its capital expenditure plans to meet anticipated demand from data centres used for artificial intelligence technology. In January, a winter storm along the U.S. Gulf Coast slowed down major cities such as Houston and New Orleans and broke the record for coldest day in the region. Damage to power lines, and the widespread outages that followed, increased operating and maintenance costs for utilities. CenterPoint reported that its O&M cost rose by 5.4% compared to a year earlier, reaching $747 million in the third quarter....

Democratic lawmakers harshly criticised the chief executives at BlackRock, JPMorgan, and other top financial companies for leaving global coalitions dedicated to combating climate changes. They urged them to maintain their previous commitments, and policy targets to reduce greenhouse gas emission. A letter sent to executives by members of Congress revealed that, in the face of increasingly severe weather and financial risks, their bosses "actively" decided to relinquish leadership over climate change. The letter sent on Thursday also requests records of any communications between the executives and the Trump administration about plans to reduce their environmental and social work. It said:...

A draft proposal seen by revealed that the European Commission had drafted plans for new subsidies to be offered to farmers who invest to waste less water when the huge farm subsidy program is renewed. Around 387 billion euro is the value of EU's Common Agricultural Policy's (CAP) farming subsidies. This represents about a third in the overall budget of 2021-2027. The EU is preparing to have tough negotiations on its next budget, for the period after 2027, in later this year. According to a draft EU policy proposal aimed at addressing the pressures on Europe's water supply from climate...

The U.S. Environmental Protection Agency sent a proposal rule to the White House, asking for its review. It outlines the amount of biofuels that oil refiners will have to blend into their fuel starting in 2026. Since President Donald Trump's inauguration in January, the politically powerful oil and fuel lobbies have been waiting for this proposed rule. This will be the first opportunity for the Republican President to demonstrate his support for the biofuels policies, which have historically pitted Big Oil against the Farm Belt. This dynamic changed in the run-up to the proposed rule. A coalition of oil and...

The EPA announced Wednesday that it will rescind a large part of the first national drinking water standard of the Biden Administration, which was designed to protect people from "forever chemicals", also known as PFAS, found in household products. However, two of these chemicals will remain within current limits. The "forever chemicals", as they are called, do not break down easily in the body or in the environment. They can be found in hundreds consumer and commercial products including non-stick pans (non-stick), cosmetics, firefighting sprays, and stain resistant clothing. The EPA's rule, finalized under the Biden administration last year, set...

As part of its plans to reduce regulations and paperwork, the European Commission on Wednesday proposed a further easing of environmental conditions that are tied to EU's massive farming subsidy program. Last year, farmers in Europe used their political power to protest against issues such as strict EU regulations and cheap imported goods. The EU responded by reducing some of the green conditions that were attached to farm subsidies. The Commission announced on Wednesday that it would go further in its plans to change the green conditions, other rules, and to limit on-site inspections to just once a year. It...

After being sued by environmental and farm groups, the U.S. Department of Agriculture has restored some climate change related webpages it had removed since the inauguration of President Donald Trump. Trump's administration has frozen or canceled funding for climate-friendly farming, claiming that the work is not in line with its priorities. About 11% of U.S. greenhouse gas emissions are attributed to agriculture. According to a lawsuit filed by the Northeast Organic Farming Association of New York on February 24, the Natural Resources Defense Council and the Environmental Working Group, a USDA official instructed staff to remove any pages focused on...

Officials in South Africa stepped up their calls on Tuesday for a more balanced approach to the energy transition, arguing that environmental protection and economic development must work together rather than be in opposition. Gwede Mntashe, Minister of Mineral and Energy Resources at the Africa CEO Forum held in Abidjan, said: "We must allow integration between the two." "We can't kill the economy in order to save ecology." Mantashe emphasized what he called an imbalance in global climate responsibility, noting that Africa contributed the least greenhouse gases globally but faces disproportionate pressures to decarbonize. "We have a tax on carbon,...

When questioned on Tuesday by lawmakers, the bosses of Britain’s Thames Water claimed that the company needs relief from fines in order to avoid nationalisation. Thames Water has been fighting against financial collapse for the past year. The water sector is under fire for allegedly polluting Britain’s rivers and seas, while at the same time increasing bills. Thames Water has been trying to reach a deal with the financial investor KKR in order to raise new equity and avoid being subject to the Special Administration Regime of government. However, due to its poor performance it will likely face large fines....

According to a document filed by the government on Friday, U.S. federal regulatory agencies recommended that Venture Global's proposed CP2 liquefied gas export project be approved. If built, CP2 would be the largest LNG export facility to ever exist in the United States and will help the U.S. remain the largest LNG exporter in the world. Venture Global had already received approval for the construction of the 28 million tonnes/annum plant. However, a recent court ruling forced them to perform an additional air quality review. Documents from the Federal Energy Regulatory Commission show that the study concluded the project could...

According to a letter released by the Brazilian presidency on Thursday, COP30, which is this year's global climate summit, has called for new global governance mechanisms in order to help countries implement their commitments and curb global warming. The summit in the Amazonian town of Belem, in November, will mark the 10th anniversary since the Paris Accord when signatories agreed that warming should be kept well below 2 degrees Celsius compared to pre-industrial levels. Many nations are still struggling to bring their plans to life and reduce carbon emissions to the level necessary to prevent the planet from reaching catastrophic...

The first ever air pollution trading scheme in the world has produced results Experts warn against relying too heavily on market solutions The developing nations are unable to reduce air pollution Bhasker Tripathi In India, air pollution is a major health issue. The country's 1.4 million people breathe air that exceeds the World Health Organization guidelines for particulate (PM) matter. These particles are finer than human hair and can cause serious health problems such as lung cancer and respiratory infections. The average Indian loses 3.5 years in life expectancy due to pollution. The industry is a major source of air...

Two sources familiar with the reorganization said that the U.S. Environmental Protection Agency (EPA) plans to discontinue Energy Star. This program, which has been certifying the energy efficiency in home appliances since more than 30 years, will be discontinued as part of the reorganization. As part of Friday's announcement of agency reorganization, the EPA Office of Atmospheric Protection and Office of Air Quality Planning and Standards will be dissolved. After a Monday staff meeting, OAP announced that it would be closing the Energy Star program. This news was first reported by CNN & Washington Post. The EPA declined to comment...