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RWE, Apollo Set Up Joint Venture to Channel $3.7B Investment in German TSO
RWE has struck a long-term partnership with Apollo Global Management to secure funding for its 25.1% stake in Amprion, one of Germany’s four transmission system operators, as the country gears up for a decade of record grid investments.Under the agreement, Apollo will provide $3.74…
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Chevron, Israel Natural Gas Lines to Begin Construction of Gas Pipeline to Egypt
Chevron has signed a deal with state-owned pipeline operator Israel Natural Gas Lines to kickstart construction of the Nitzana natural gas pipeline to transport gas from the Leviathan gasfield to Egypt, the U.S. company said on Tuesday.Nitzana would ease an energy crisis in Egypt…
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Nayara Energy Increases Fuel Sales to HPCL after EU Sanctions
India's Nayara Energy has raised fuel sales to state retailer Hindustan Petroleum Corp after the Russia-backed refiner's exports were hit by European Union sanctions, a government source said on Tuesday.Since the imposition of sanctions, Nayara has been operating its 400,000 barrel-per-day (bpd) Vadinar refinery in western India at 70-80% capacity.
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Russia Warns of Cutting Oil Output Following Drone Attacks
Russia's oil pipeline monopoly Transneft has warned producers they may have to cut output following Ukraine's drone attacks on critical export ports and refineries, three industry sources said on Tuesday.Kyiv has stepped up attacks on Russian energy assets since August in a bid to…
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JERA in Talks to Buy $1.7b of US Natural Gas Assets
Japan's top power generator JERA is in advanced talks to buy natural gas production assets in the U.S. for around $1.7 billion, people familiar with the matter said, the latest example of the Asian nation investing in America's energy sector.JERA emerged as the top bidder for the assets owned by GEP Haynesville II…
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Sinopec to Begin Work on $3.7b Crude Oil Refinery
Sri Lanka expects Chinese state energy giant Sinopec to start work on a $3.7 billion refinery this year and is considering…
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New Fortress Energy signs $4 billion LNG contract in Puerto Rico
In a social media post posted on Tuesday, Governor Jenniffer Gonzalez announced that Puerto Rico had negotiated a $4 Billion…
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The agency's head claims that Colombian oil and gas reserves are expected to increase this year.
The head of Colombia's hydrocarbons department said on Tuesday that the country's oil and natural gas reserves are likely…
Latest news
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EPA wants to hear your thoughts on the full range of options available for US biofuel allocation
The U.S. The Small Refinery Exemption Program offers two options: 50% or 100%. The agency will also ask for comments on any…
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Mexico taps the debt markets again to support state oil company Pemex
For the second time in a week, the Mexican government has turned to international bond markets to support Pemex, its state-owned oil company.
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India's Vedanta will keep coal as its base energy source despite clean energy push
Vedanta, an Indian mining and metals company, will continue to use coal as the primary source of energy for its mining operations.
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Chevron and Israeli pipeline operator will launch new gas pipeline towards Egypt
Chevron announced on Tuesday that it had signed a contract with Israel's pipeline operator, a state-owned company, to begin…
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IEA: Global oil and gas production is declining rapidly, IEA reports
International Energy Agency (IEA) said Tuesday that the decline in oil and gas production from mature fields around the world…
Shale Oil & Gas
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German gas storage is at 75%, but operators are keeping an eye on the winter supply
The German gas storage capacity has been filled to the minimum level required by the European Union for November 1 but INES…
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The IEA reports that the decline rates of global oil and gas fields are increasing.
International Energy Agency reported on Tuesday that the natural rate of decline for oil and gas production is increasing…
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Canada and BC approve Ksi Lisims Liquefied natural gas project on Pacific Coast
The federal government of Canada and the province British Columbia have approved Ksi LNG, a project to build a liquefied…
LNG
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Third Russian Tanker from Sanctioned Arctic LNG 2 Discharges and Departs China
A third tanker from Russia's Arctic LNG 2 plant, which is under Western sanctions, discharged its cargo and exited a terminal in China on Wednesday…
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Edison to Replace Pipeline Gas with Flexible LNG supply
Italian gas and electric utility Edison plans to replace some gas volumes from pipeline contracts with liquefied natural…
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Shell Signs 10-year Gas Supply Deal with MVM CEEnergy
Oil and gas major Shell signed a 10-year natural gas deal with Hungary's MVM CEEnergy on Tuesday, in a move designed to strengthen…
Renewables
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Prices rise sharply due to less wind and nuclear supply
The wholesale European power prices surged Tuesday, as French nuclear power generation dropped and wind power production…
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Australia delays its first offshore wind auction due to global investment retreat
Victoria, Australia, has delayed its first auction of offshore wind farm financing, citing global investments hurdles. This…
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GCL, a Chinese polysilicon company, raises capital to support supply-side reform
GCL Technology, a Chinese company, announced on Tuesday its intention to issue shares in order to raise funds for supply-side changes to polysilicon.