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Oil & Gas

Oil & Gas

Many significant Gulf markets gain on China stimulus-led optimism

The majority of significant stock markets in the Gulf climbed in early trade on Thursday, in line with Asian shares, supported by news of aggressive financial stimulus from China, although geopolitical stress in the area restricted the benefit. China's central bank on Tuesday unveiled its biggest stimulus considering that the pandemic to pull the economy out of its deflationary funk and back towards the government's growth target. Driving the optimism was a main readout from a meeting of China's politburo that said the country would deploy necessary fiscal costs to fulfill this year's economic development target of roughly 5%. Saudi...

Power Markets

South Africa's Eskom, Sasol accept explore LNG options

South African petrochemicals company Sasol and state power utility Eskom stated on Friday they had actually consented to jointly explore ways the country could use melted gas (LNG). As the nation's two most significant users of coal, Sasol and Eskom are significant polluters therefore are main to the nation's. efforts to transition to cleaner energy sources. Eskom is wanting to build on a current enhancement in its. plant performance, after years of imposing power cuts. The cooperation intends to identify the possible volumes. that South Africa requires to develop a viable LNG import. market in addition to the making it...

Oil & Gas

Major Gulf markets up after central banks cut rates to mirror Fed

Major stock markets in the Gulf increased in early Thursday trade after a lot of reserve banks in the region cut their essential interest rates following a larger than typical policy easing by the U.S. Federal Reserve. The Fed cut its benchmark rate by 50 basis points (bps) on Wednesday, with policymakers seeing another half a portion point fall by the end of this year. Saudi Arabia's benchmark index acquired 0.4%, with Al . Rajhi Bank rising 1.1%. The kingdom, the area's greatest economy, cut its. redeemed arrangement (Repo) rate and reverse repo rate by 50 bps. each to 5.5%...

Oil Refineries

Russia rejects media report about indirect talks with Ukraine

Russia on Sunday rejected a report that Ukraine's attack on the Kursk region had actually derailed indirect talks with Kyiv on halting strikes on energy and power targets, stating there had been no talks with Kyiv about civilian infrastructure facilities. The Washington Post reported on Saturday that Ukraine and Russia were set to send delegations to Qatar this month to negotiate a landmark arrangement halting strikes on energy and power facilities on both warring sides . The Post said the agreement would have amounted to a. partial ceasefire however that the talks were hindered due to Ukraine's attack on Russian...

Oil & Gas

Major Gulf market blended ahead of United States data, oil demand issues

Significant stock exchange in the Gulf were mixed in early trade on Tuesday ahead of a multitude of information being released this week, including U.S. inflation, that will help hone views on the Federal Reserve's next moves and on oil need concerns. Markets are evenly split between a cut of 25 bps and 50 bps at the next conference in September. Traders are pricing in an overall of 100 bps of cuts this year. U.S. producer price data for July, due later in the day, might feed through to the core personal consumption (PCE). procedure favoured by the Fed. Monetary...

Oil & Gas Refining

A lot of Gulf markets extend gains as US economic downturn worry fades

The majority of Gulf stock markets rose in early Wednesday trade, on course to extend their return from an aggressive selloff in international stocks previously in the week set off by worries of a possible U.S. recession. U.S. Federal Reserve policymakers pushed back on Monday against the idea that weaker than anticipated July tasks data ways that the economy is in a recessionary freefall. Markets are pricing in a 65% opportunity of the Fed cutting rates of interest by 50 basis points in September, the CME FedWatch tool shows, compared to 85% a day earlier. Monetary policy in the six-member...

Mining

Many significant Gulf markets get as financiers eye earnings

The majority of major stock markets in the Gulf increased in early trade on Tuesday, assisted by positive profits, while financiers looked for additional signs that the U.S. Federal Reserve might start to cut interest rates as soon as September. Dubai's primary share index got 0.4%, with blue-chip developer Emaar Properties rising 0.8%,. while Emirates Integrated Telecom advanced. 1.5%, following a sharp rise in second-quarter incomes. In Abu Dhabi, the index added 0.1%. The United Arab Emirates hopes to reactivate trade talks. with the European Union by the end of the year, the UAE trade. minister said on Monday, and...

Crude Oil

India's LNG rise supports Asia's imports in June: Russell

(The opinions revealed here are those of the author, a writer for .) Asia's imports of melted gas (LNG) are anticipated to dip somewhat in June from May, with strength in India holding up the top-buying region's hunger for the super-chilled fuel. Asia is on track to import 23.18 million metric tons of LNG in June, down a touch from May's 23.55 million, but up 8.9% from the 21.28 million from June in 2015, according to information compiled by commodity experts Kpler. The largely steady outcome in June from the previous month shows the little change in arrivals to China...

Natural Gas Utilities

QatarEnergy indications LNG supply deal with Taiwan's CPC

QatarEnergy signed a deal on Wednesday to provide Taiwan's stateowned oil company CPC with liquefied gas (LNG) for 27 years and giving it a stake in the Gulf state's gas growth project. The state-owned Qatari company said that it will supply CPC with 4 million tons per year (mtpa) of LNG from the North Field East, the eastern growth of the job. CPC will likewise take an equity stake because part of the job, QatarEnergy's declaration stated. The stake is the equivalent of 5% of one LNG train with capability of 8 million metric loads a year. This transfer will...

Oil & Gas Refining

EUROPE GAS-EU standard contract at six-month high up on Norwegian unplanned outage

European gas costs jumped to a sixmonth high on Monday after Norway's gas exports to Europe fell sharply as a shutdown of the offshore Sleipner hub halted operations at the Nyhamna onshore processing plant. The benchmark front-month contract at the Dutch TTF hub rose by 2.57 euros to 37.17 euros per megawatt hour ( MWh) by 1443 GMT, its highest intraday level given that early December, while the August agreement included 2.35 euros to 37.15 euros/MWh, according to LSEG information. In the British market, the day-ahead agreement was up 8.25 pence at 91.75 cent per therm and the July agreement...

Oil & Gas

Chinese refiner Rongsheng buys its very first Canadian TMX crude oil cargo

Chinese refiner Rongsheng Petrochemical has bought its first Canadian crude cargo through the just recently broadened Trans Mountain pipeline (TMX). from TotalEnergies through a tender, a number of trade. sources said on Monday. The 500,000-barrel freight of Gain access to Western Blend (AWB) crude. will be provided to Rongsheng's refinery in Zhoushan in August,. they included. AWB is a kind of heavy and extremely acidic watered down bitumen. produced by Canadian Natural Resources and MEG Energy. The rate was not immediately available. TMX, which will ship an additional 590,000 barrels per day. ( bpd) to Canada's Pacific coast from Alberta,...

Oil & Gas Refining

Major Gulf bourses silenced in early trade; U.S. inflation eyed

Major stock markets in the Gulf were suppressed in early trading on Tuesday in the middle of unpredictable oil prices, while investors looked forward to inflation data later this week for ideas on the course of U.S. rates of interest cuts. Oil prices, a driver for the Gulf's monetary markets, swept in between gains and losses as markets waited for an OPEC+. meeting on June 2. Brent edged as much as $83.18 a barrel by. 0800 GMT. The Federal Reserve's preferred step of inflation, core. individual intake expenses, due on Friday, will be. closely watched by investors for hints on...

Fossil Fuels

Mining

Major Gulf markets gain on Fed rate cut optimism

Significant stock exchange in the Gulf increased in early trade on Thursday after U.S. inflation data paved the method for a Federal Reserve rate cut next week, while traders waited for more financial data from the United States. The U.S. consumer price index increased 0.2% in August, but underlying inflation showed some stickiness, which might result in the Fed providing a smaller 25-basis-point cut at its upcoming conference. Fed policymakers will likely start long-awaited rate cuts next week as they look for to reduce the chance of an economic crisis even as stubborn underlying cost pressures put them off more...

Refined Products

Germany extends trusteeship over Rosneft properties, sources state

Germany will extend its trusteeship over the regional units of Russia's Rosneft for six more months in anticipation of a sale of the possessions to Qatar, two individuals knowledgeable about matter told Reuters on Monday. The future of Rosneft's German assets, that include a. 54.17% stake in the PCK Schwedt refinery, has yet to be fixed. after Berlin efficiently took control of them following Moscow's. invasion of Ukraine. A trusteeship that puts Germany in charge of the department. while leaving ownership with Rosneft has actually currently been extended. 3 times to safeguard Schwedt's supply and to give Rosneft time. to...

Fossil Fuels

Qatar in talks on possible purchase of Rosneft stake in German refinery, report says

Qatar is in talks with the German federal government over perhaps purchasing Russian energy group Rosneft's stake in Germany's PCK Schwedt refinery, which Berlin placed under trusteeship following Russia's. intrusion of Ukraine, Service Expert news site reported on. Wednesday. Berlin has actually put Rosneft's German properties under a trusteeship. in 2022, still conceding some control to the Russian group over. a sale of the assets. A Rosneft suit to challenge Berlin's. grasp over the properties stopped working in court last year. The existing. trusteeship term is set to end on Sept. 10. The German economy ministry told Reuters it would...

Natural Gas

LNG

Crude Oil

Golden Pass LNG asks US regulator for 3-year extension to complete building

The designer of a Texas melted gas export task on Wednesday asked U.S. regulators for a threeyear extension to finish build the $ 10 billion Golden Pass LNG task, pointing out scheduling uncertainties. Golden Pass LNG, a joint venture of QatarEnergy and Exxon Mobil building an 18 million metric lot per yearly LNG export project on the Texas coast, composed that a modification in primary professionals requires an extension until November, 2029. Exxon and QatarEnergy this month stated the task startup would be delayed till late next year. The existing approval expires in November 2026 and the request indicates a...

Environment

EUROPE GAS-Prices edge lower amidst strong supply and warm temperatures

LONDON, May 30 - Dutch and British gas rates edged lower on Thursday morning as a relieving in maintenance caused increased flows from Norway and warm temperatures suppressed demand. The benchmark front-month contract at the Dutch TTF hub inched down by 0.18 euro to 33.70 euros per megawatt hour (MWh) by 0801 GMT, while the July agreement slipped 0.23 euro to 33.90 euros/MWh, according to LSEG information. In the British market, the day-ahead agreement was down 1.25 pence at 81.00 pence per therm. Temperatures increase over the weekend and remain above ( seasonal) normal up until a minimum of completion...

LNG

EUROPE GAS-Prices rangebound as supply rebounds

LONDON, May 29 - Dutch and British wholesale gas rates were rangebound on Wednesday early morning as maintenance outages in Norway reduced and supply rebounds. The benchmark front-month agreement at the Dutch TTF center inched up by 0.21 euro to 33.76 euros per megawatt hour (MWh) by 0917 GMT, while the July contract edged up by 0.01 euro to 33.89 euros/MWh, according to LSEG data. In the British market, the June contract was 0.08 pence greater at 80.85 pence per therm. There isn't a clear instructions at the moment. Norwegian supply is healthier however demand isn't that strong, a gas...

LNG

EUROPE GAS-Dutch prices firm as supply dangers stick around

May 27 - Dutch wholesale gas rates increased on Monday morning as better gas flows from Norway and windier weather projections failed to settle nerves over larger supply issues. The benchmark front-month contract at the Dutch TTF center was up 0.63 euros at 34.38 euros per megawatt hour ( MWh) at 0907 GMT, according to LSEG data. The July agreement was up 0.60 euros at 34.75 euros/ MWh while the day-ahead contract got 0.15 euros to 34.43 euros/MWh. The British market was closed on Monday since of a. legal holiday. Gas seems to be in a bullish trend given that...

Oil & Gas Refining

EUROPE GAS-Prices increase on supply issues, wind forecasts

LONDON, May 23 - British and Dutch wholesale gas prices rose on Thursday early morning due to concerns around supply and a. drop in wind power output from tomorrow. In the British market, the front-month contract. was 3.90 pence higher at 86.70 p/therm by 0945 GMT, while the. July rate increased by 5.41 pence to 84.40 pence/therm,. LSEG data revealed. Overall Norwegian exports to Britain are down by 26 million. cubic metres (mcm) at 32 mcm/day as volumes have actually been re-routed. to continental Europe. UK gas-for-power demand is forecast to increase for the day. ahead by 22 mcm to...

LNG

EUROPE GAS-Prices touch four-month high up on gas supply worries

LONDON, May 22 - Dutch wholesale gas costs rose on Wednesday to a four-month month high on concerns that Russia could stop gas streams to Austria's OMV. The benchmark front-month contract at the Dutch TTF hub was up 0.98 euro at 33.90 euros per megawatt hour (MWh). by 11.16 GMT, according to LSEG information. The contract previously struck an intra-day high of 34.11. euros/MWh, its greatest level given that January. In the British market, the front-month agreement. was 2.85 pence higher at 82.20 p/therm. The OMV news has included tinder to currently smouldering. cinders offered where we are with the...

LNG

VTTI to control Italy's greatest LNG terminal, Snam to get 30%.

Energy storage group VTTI will get a 70% stake in Italy's biggest liquefied gas ( LNG) terminal, with grid operator Snam owning the rest, the Milanlisted group stated on Wednesday, announcing a. deal to be finalised by yearend. Snam, which is controlled by the Italian government, stated in. a declaration it had actually exercised its pre-emption right to increase. its stake in the facilities dubbed Adriatic LNG to 30% from. 7.3%. The move comes after ExxonMobil and QatarEnergy last. week consented to sell their stakes in the terminal to a consortium. led by Dutch group VTTI. It verifies what 2...

LNG

Red Sea disturbance to effect shipments, not output -QatarEnergy CEO

Interruption to shipping in the Red Sea area will impact QatarEnergy's. deliveries of liquefied natural gas (LNG) but not its. production, CEO Saad alKaabi said on Monday. It's just going to take longer to get it there. However it will. not reach a point where we have to stop production because there. isn't any ship. We're alright, Kaabi stated at a groundbreaking. ceremony at the Ras Laffan petrochemical complex. Kaabi added that ships needing to divert away from the Red. Sea and travel around Africa rather was not perfect as this added. expense and took longer. One of the world's...

LNG

Golden Pass LNG states in talks with professional that could impact task work

Golden Pass LNG, a joint endeavor between QatarEnergy and Exxon Mobil, on Thursday said it was in continuous talks with a contractor that might have nearterm impacts on activity at its site, but it did not inform any specialist to send out workers home. The joint endeavor is building a 2.4-billion cubic feet per day melted natural gas (LNG) export plant in Texas, which is slated to start up next year. Calendar 2025 gas futures fell to $3.15. per million British thermal systems (mmBtu) previously in the. session, their lowest since February 2022, due in part to a. media report...