Oil & Gas

Natural Gas

Nuclear Power

VCI, the German chemical lobby, predicts that there will be no recovery in the sector before 2026

Germany's chemical industry lobby VCI does not expect a sector upswing before 2026, even though the rapid downtrend the chemical-pharmaceutical industry has seen in recent years seems to be over, it said on Thursday. VCI reported that the chemical industry, including pharmaceuticals, recorded sales of 107.6 billion euros ($124.66 billion) during the first half 2025. This was down 0.5% compared to a year ago, due to lower output in industry as companies announced plant closures and layoffs. The situation is still tense. "Our industry has produced about 15 percent less in the first half of the year than it did...

Power Markets

Texas nuclear project talks with "hyperscalers"

In documents released on Tuesday, Fermi, an Texas-based company that wants to build four nuclear reactors next to the U.S. Nuclear Weapons Complex, stated it was in talks with large data managers about leasing agreements for this project. Fermi is a company co-founded Rick Perry, a U.S. former energy secretary. It wants to build 4 AP1000 reactors in a facility that it calls a "hypergrid." The 11 gigawatt facility, powered by nuclear energy, natural gas and renewables, will be built in Amarillo, near the Department of Energy Pantex nuclear weapons factory and in partnership with Texas Tech University. Fermi stated...

Crude Oil

EIA: US natgas production and demand will reach record highs by 2025 before declining in 2026

The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook, released on Tuesday, predicted that the U.S. Natural Gas output and demand would both reach record highs by 2025. However, they will then decline in 2026. EIA projects that dry gas production will increase from 103.2 billion cubic feet per day in 2024, to 105.9 in 2025, before slipping to 105.4 in 2026. This compares to a record of 103.6 bcfd for 2023. The agency also predicted that domestic gas consumption will rise from 90.5 bcfd, a record in 2024, to 91.4bcfd by 2025 and then ease back to 91.1bcfd by...

Natural Gas

Prices of gas in Europe trade within a narrow range due to strong supply

The Dutch and British wholesale prices of gas were in a tight range on Monday due to the strong supply from Norway, and LNG. According to LSEG, the benchmark Dutch contract for August deliveries at TTF hub increased by 0.06 euros to 33.46 Euro per megawatt-hour (MWh) as of 0843 GMT. The contract for the day ahead was up by 0.15 euros at 32.65 Euro/MWh. The British contract for tomorrow's day has dropped by 0.25 pence, to 78.25 cents per therm. Fundamentals remain the same. The fact that Norwegian production is back at normal levels, and the low wind generation...

Energy Markets

Putin claims that globalisation has become obsolete and that the future belongs to emerging market

On Sunday, Russian President Vladimir Putin said to BRICS leaders that the era liberal globalisation is obsolete. The future belongs to rapidly growing emerging markets that should increase the use of national currencies in trade. A warrant of arrest issued by the International Criminal Court alleging that Putin is responsible for war crime in Ukraine caused him to speak via video link at the Rio de Janeiro summit. Moscow claims the warrant is unfounded, and has no purpose. BRICS – an idea that was conceived in Goldman Sachs 20 years ago to describe China's growing economic clout and that of...

Fossil Fuels

Kazakhstan cancels plans for Karachaganak Gas Processing Plant with Foreign Shareholders

The Kazakhstani energy ministry announced on Wednesday that it had canceled plans to build a processing plant for gas at the Karachaganak Field with the project's major foreign investors. It stated, without going into detail, that they were looking to work with domestic companies. Central Asia has been in a dispute with oil companies for many years over cost. In 2023, the country will bring multi-billion dollar claims against these companies. Companies claim that the government simply wants to increase its share in major oil and gas projects, which amounts to "resource nationalism". Kazakhstan's authorities rejected this criticism and said...

Energy Markets

EU envoys are expecting to resolve the blockage of new Russia sanctions by this week

The European Union said that they expected to reach an agreement during a summit of the EU this week regarding an 18th package against Russia. Slovakia and Hungary use it as a bargaining tool for concessions about Russian energy. The European Commission proposed the package to encourage Russia to negotiate with Ukraine a ceasefire after EU leaders demanded "massive sanction" in May. The package aims to target more of Russia's revenues from energy by listing its banks and destroying its shadow tanker fleet. Hungary and Slovakia announced on Monday that they will not support new sanctions unless the proposal to...

Natural Gas Utilities

Prices of EUROPE GAS have fallen by over 10% following the news that Iran and Israel had reached a ceasefire

The wholesale gas price in the Netherlands and Britain fell by more than 10% Tuesday morning, following the news that Iran had agreed to a ceasefire with Israel. This removed the premium for risk the market had built into the market due to potential disruptions of oil and gas supplies. The benchmark Dutch front month contract at the TTF Hub fell by 4.86 euro to 36.38 Euros per Megawatt Hour (MWh), which is $12.38/mmBtu by 0939 GMT. It had traded as low 35.45 Euros/MWh earlier, LSEG's data showed. The British front-month contracts was down 13.72 pennies at 84.85 cents per...

Renewable Energy

Prices of EUROPE GAS have fallen by over 10% following the news that Iran and Israel had reached a ceasefire

The wholesale gas prices for the Dutch and British front months fell by more than 10% Tuesday morning, following the news that Iran had agreed to a ceasefire with Israel. This removed the risk premium that the market had built in due to potential disruptions of oil and gas supplies. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub dropped by 4.61 Euros to 36.63 Euros per megawatt hour (12.41/mmBtu) or 12.41 euros/MWh by 0818 GMT. The contract has fallen to its lowest price since June 12, the morning of the first Israeli strike on Iran....

Fossil Fuels

Rosatom will explore the construction of a high-capacity reactor in Uzbekistan

Rosatom, the state-owned nuclear corporation of Russia, signed a deal with Uzbekistan’s Atomic Energy Agency on Friday to examine the feasibility and cost of building a nuclear power plant capable enough to generate large amounts in this Central Asian nation. Rosatom has already planned to build smaller nuclear units in Uzbekistan. The agreement was signed with the Uzbek Government at the St. Petersburg International Economic Forum. Over the weekend, the Kazakh government also asked the Russian energy company to lead a group to build the country's first nuclear power station. The five former Soviet Central Asian republics do not have...

Energy Markets

Putin's energy point person says that more oil is needed globally

The Russian energy point person for President Vladimir Putin said that the world needed more oil, and OPEC+ was ready to make adjustments if necessary amid the conflict between Israel & Iran and a trade dispute. Crude oil prices have increased in recent days due to fears of a major Middle East war after Israel attacked Iran and U.S. president Donald Trump encouraged people to leave Tehran. Alexander Novak, Russian Deputy Premier Minister, said that the risks of disruptions in supply through the Strait of Hormuz and the global economic recovery as well as the trade wars launched by Washington...

Energy Markets

World Bank will end nuclear energy ban, but still debate upstream gas

Ajay Banaga, president of the World Bank, said that its board had agreed to lift a ban on financing nuclear energy projects for developing countries. This is part of an effort to meet the growing demand for electricity. Banga sent an email outlining the bank's new energy strategy to its staff following what he described as a constructive meeting with the board. Banga said that the board had not reached a consensus on whether or not the bank should be involved in upstream natural-gas projects. He wrote, "This will need further discussion." In 2017, the global development bank, a lender...

Environment

Environment

South Korea is hit by torrential rain for the third consecutive day, and thousands of people seek shelter.

On Friday, heavy rains continued to pelt South Korea in a torrential downpour that killed at least four and forced thousands to flee their homes. Property and infrastructure were also damaged. The weather service warned of possible landslides, flooding and landslides in the western and southern parts of the country. The Interior and Safety Ministry reported that more than 5,000 people had been evacuated, but as of 11 am (0200 GMT) the number of people sheltering in the buildings was down to 3,297. The ministry reported that in the 24 hour period leading up to Friday morning, Gwangju and other...

Environment

Private equity firm CAPZA purchases minority stake in DI Environnement

Private equity firm CAPZA announced on Friday it had agreed to purchase a minority share in DI Environnement. The French company specializes in environmental cleanup services, such as removing harmful material. Why it's important The acquisition of CAPZA highlights the potential for growth in the sector, as businesses strive to create buildings that are more energy efficient and governments work towards a cleaner environment. Precedence Research, a consultancy firm, predicts that global environmental consulting services will grow to $92,85 billion by 2034. This is up from $46,67 billion in 2025. KEY QUOTES "We're pleased to welcome CAPZA on board as...

Environment

G20 finance chiefs reach consensus in South Africa, despite US tariff tensions

The G20 finance chiefs expressed optimism on Friday about a possible agreement on a position on global trade and other challenges despite the tariffs imposed by U.S. president Donald Trump, which overshadowed the meeting. To the disappointment of the South African hosts, the G20, which was created as a forum to promote cooperation in the fight against the global financial crisis of 2008, failed to come to a consensus when the finance ministers and central banks met in February. Even though G20 communiqués are not legally binding and their exact wording is unclear, an agreement today would be considered a...

LNG

Pollution

Pollution

The UK Government funds a battery recycling project supported by Jaguar Land Rover

Mint Innovation, a startup based in London, announced on Thursday that the British Government has funded an EV battery recycling program backed by Jaguar Land Rover to recover minerals from end of life batteries. The UK Department for Business and Trade has launched the DRIVE35 programme, a 2.5 billion-pound (3.35 billion-pound) programme to help the transition to electric vehicles. Why it's important Britain will phase out the sale of new petrol or diesel cars by 2035. Globally, however, the demand for EVs is below expectations. Consumers cite high upfront costs as their main obstacle. By the Numbers Mint Innovation announced...

Pollution

The largest reservoir in Lebanon is drained by the worst drought ever recorded

The water levels in Lebanon's biggest reservoir, the Litani River, have dropped to record lows, amid the worst drought the country has ever experienced. This is a threat to agriculture, domestic water supplies, and electricity production. The Litani River National Authority reported that inflows into Lake Qaraoun this year during the wet season were not more than 45 million cubic meters, which is a fraction of 350 million cubic metres average annual flow. In the last year, this figure was 230 millions. According to the authority, water in Lake Qaraoun is currently unavailable - 61 million cubic metres - due...

Pollution

Report: World faces up to $39 trillion of economic losses due to disappearing wetlands

According to a report released by the Convention on Wetlands on Tuesday, the destruction of wetlands around the world, which are vital for fisheries, farming and flood control could result in a loss of $39 trillion by 2050. According to an intergovernmental report, 22% of freshwater systems, such as rivers, lakes and peat lands, and coastal marine ecosystems, including mangroves, coral reefs and coastal systems, have disappeared since the 1970s. This is the fastest rate of loss for any ecosystem. The declines are a result of pressures such as land-use changes, pollution, agricultural expansions, invasive species and climate change impacts,...

Pollution

China informs EU of new climate targets coming in autumn

Teresa Ribera, the green chief of the European Commission, said that Chinese officials told the European Union their country would produce a national plan in the fall to combat climate change. China and the EU missed the February deadline for submitting new national climate change goals to the United Nations. These targets set out the amount a country would reduce its greenhouse gas emission by 2035. They will be used to evaluate global progress in avoiding catastrophic levels of warming. Ribera told reporters that both parties were working to achieve their national determined contributions (NDCs) ahead of the U.N. climate...

Carbon Emissions

Australia PM promotes green steel when iron ore miner meets Chinese steelmakers

Australia and China need to work together more closely on green steel, said Anthony Albanese, the Prime Minister of Australia, in Shanghai, on Monday. He also called for China, the world's biggest steelmaker, to reduce its excess production capacity. China depends on Australia for two-thirds or its iron ore consumption by its massive steel industry. This trade will bring Canberra A$105 Billion ($68.90 Billion) in this financial year according to the most recent government estimates. Decarbonisation, which requires higher-grade iron ore from countries such as Guinea and Brazil, puts this trade at risk for Australia. Green steel is metal that's...

Pollution

EU sets September as target date for climate agreement

Sources familiar with Friday's discussions reported that the majority of European Union countries are in favor of a plan to reach an agreement on their new target for climate change by September. The EU is currently negotiating its new climate change goal for 2040. Last week, the Commission proposed that the target should be 90% reduction in emissions from 1990 levels. However, countries will be allowed to purchase international carbon credits to reach a limited portion of the goal. Denmark, which assumed the rotating EU presidency this month, and is leading negotiations among countries about the target, hopes to reach...

Pollution

Union says EPA must reinstate workers placed on leave due to a dissenting letter.

Leah Douglas WASHINGTON (July 10) - A union official wrote to EPA Administrator Lee Zeldin Thursday that employees of the U.S. Environmental Protection Agency who were recently placed on leave for signing a critical letter of Trump's administration policies should be reinstated. The 139 employees and hundreds of other EPA personnel signed the letter of June 30, accusing the agency harmful deregulatory action and ignoring science. Under the direction of President Donald Trump's directives, the agency is going through a major restructuring, which includes staff reductions, elimination of grant programs and grants, and environmental justice. In a letter to Zeldin,...

Pollution

Rivers in southwest China exceed warning levels and thousands are evacuated

State media reported that 25 rivers in southwest China were above safe levels after the remnants from former typhoon Danas combined with East Asian Monsoon Rains. More than 10,000 people had been evacuated. Meteorologists attribute extreme rainfall and severe floods to climate change. They pose a major challenge as they threaten to overwhelm the ageing flood defences and displace millions. Beijing Daily, a state-run publication, reported that heavy rains hit the capital as well. One area of the Chaoyang district received 68.2mm (2.7") in just one hour, on Thursday morning. The water ministry warned that ten rivers in the southwest,...

Pollution

EU lawmakers reject attempts to limit the influence of far-right politicians in climate talks

The European Parliament rejected on Wednesday a proposal for fast-tracking talks on the EU’s new climate goal, undermining a bid by liberals, socialists and greens to limit the influence climate sceptic legislators have on this goal. The far-right Patriots of Europe, which rejects EU policy to curb climate changes, took over the role of leading negotiators on Tuesday for the 2040 target. They were seeking to steer discussions on this goal, to which they said they strongly opposed. On Wednesday, lawmakers rejected a proposal to speed up the negotiation process. This would have bypassed the stages in which the Patriots...

Climate Change

EU climate negotiations to be led by far-right politicians

Patriots for Europe, an extreme right-wing group, will be in charge of the European Parliament’s work on the new climate target for the bloc, European Union legislators said on Tuesday. This could complicate any agreement on the goal of reducing greenhouse gas emissions to 90% by 2040. The Patriots group is the third largest in the Parliament and includes both the far-right parties of France and Hungary, including Marine Le Pen, the leader of the French far-right, and Viktor Orban, the Prime Minister of Hungary. During separate press conferences, EU legislators, including Bas Eickhout (co-chair of Green EU Lawmaker Group)...

Pollution

FT reports that the EU is stockpiling critical minerals in response to geopolitical threats.

Financial Times, citing an EU draft document, reported that the European Union intends to stockpile essential minerals to protect against possible supply disruptions caused by geopolitical tension. The draft said that "the EU faces a complex and deteriorating landscape of risk marked by increasing geopolitical tensions including conflict, the mounting impact of climate change, environment degradation, hybrid and cyber threats." The FT reported that the document warned of a higher-risk environment driven by "increased activities from hacktivists and cybercriminals", as well as state-sponsored groups. The European Commission didn't immediately respond to an inquiry for comment. According to the newspaper, the...

Pollution

Sources say that China is investing in the Brazil-led Global Forest Fund

Two people familiar with the negotiations said that China had signaled the Brazilian government it would invest in the Tropical Forests Forever Facility. This is a multilateral fund to conserve endangered forests all over the world. China's investment in the fund that Brazil proposed first in 2023 would be a significant shift in climate financing, which relied on funding coming from wealthy nations responsible for global warming up to this point. China's commitment could allow emerging economies to contribute to climate change mitigation financially, going beyond the requirements of the 2015 Paris Agreement that were imposed on developed countries. This...

Wind Farms

Wind Farms

High-Voltage Substation for RWE’s Thor Wind Farm Sails Away from HSM Offshore

HSM Offshore Energy has completed the buildout and delivery oof the Thor offshore high voltage substation (OHVS) for RWE’s Thor offshore wind farm in Denmark.The completed yard constructed and delivery marked the achievement of three major milestones - the load-out of the jacket, the load-out of the topside, and the sail-away of the jacket and substation, which have now left the Schiedam yard and are en route to its final destination off the Danish coast.Thor is a joint 1.1 GW offshore wind project of RWE (51%) and Norges Bank Investment Management (49%).The Thor OHVS is a critical component of Denmark’s...

Wind Farms

Saab Delivers Another Seaeye Falcon ROV to Subsea Specialist

Saab UK has delivered its 600th Seaeye Falcon remotely operated vehicle (ROV) produced in Fareham, built for international subsea specialist DISA International.The latest addition joins DISA’s growing fleet of Saab Seaeye vehicles and contributes to DISA’s high-performance inspection and survey operations across Europe.The newly delivered Falcon is already at work supporting offshore wind energy operations in Germany, where it is conducting balance of plant inspections and general visual inspections (GVI).The vehicle will soon be deployed to further projects in the Netherlands and Belgium, playing a key role in offshore inspections and measurement tasks.This latest purchase brings DISA’s fleet of Saab...

Renewable Fuels

Mooreast Finds Geotechnical Partner for Floating Energy Solutions

Singapore-based mooring and anchoring specialist Mooreast Holdings has partnered with Norway-based GeoProvider to strengthen capabilities in offshore data analysis and enhance its value proposition to the floating offshore renewable energy market.Through their framework agreement, Mooreast will tap into GeoProvider’s extensive geotechnical and geophysical database to accelerate data analysis and support larger, more complicated projects.Both parties will also collaborate on offshore wind projects as the floating renewable market transitions towards the commercialization phase.SGX Catalist-listed Mooreast, a total mooring solutions specialist, has been offering geotechnical and geophysical studies, such as soil data analysis to determine project feasibility and engineering design for mooring configurations....