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El Nino concerns and palm oil extends its gains over stronger rival oils
The market for Malaysian palm oils futures rose again on Tuesday as fears of production disruptions due to El Nino and firmer edible oils supported the market. By midday, the benchmark palm oil contract for September delivery at 'the Bursa Derivatives Exchange in Malaysia' had gained?21 Ringgit (0.46%) to 4,571 Ringgit ($1,122.54) per metric ton.
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US to build PAC-3 missile facility in Europe
A senior official from Washington said that the United States would establish a facility in Europe to maintain Lockheed Martin’s advanced PAC-3 air defence missile. Washington did not rule out producing the missile elsewhere. The U.S. spoke to reporters on the sidelines the NATO summit at Ankara.
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EIA: US natgas production and demand will reach record highs by 2026
The U.S. Energy Information Administration said in its "Short-Term Energy Outlook" on Tuesday that the U.S. Natural Gas Supply & Demand will reach'record highs by 2026. The EIA?projected that dry gas production would rise from a record of 107.7 bcfd per day in 2020 to 111.2 bcfd by 2026, and 115.3 bcfd by 2027.
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US EIA: Global oil production to return to pre Iran war levels by the end of this year
The U.S. Energy Information Administration stated on Tuesday that global oil production?and?trade flows will fully recover by the end this year after the disruptions caused due to the Iran War. The EIA reported that the global benchmark Brent crude oil price will average $74 per barrel on the spot market in the third quarter this year.
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Gulf-Europe Oil Pipeline Could Minimize Red Sea Dependency
Gulf countries' dependence on oil shipments through the Strait of Hormuz could be significantly reduced by a pipeline linking the Gulf to Europe via Israel, Israel's energy minister said, allowing them also to bypass Red Sea shipping disruptions.Oil prices surged after the U.S. and…
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EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
?U.S. The Energy Information Administration's (EIA) Short-Term Energy Outlook, published on Tuesday, said that the power…
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US EIA: Global oil production to return to pre Iran war levels by the end of this year
The?U.S. Energy Information Administration says that global oil production and trade flows will?rebound completely by the…
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Nigeria's UTM secures a gas supply agreement, clearing a key obstacle to achieving $3 billion LNG project
UTM Offshore, Nigeria, announced on Tuesday that it had signed a 15-year agreement for gas supply. This removes a major hurdle…
Latest news
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Draft shows that the EU's largest political group wants to reduce carbon market burden for industry
According to a draft of a position paper, the European Parliament's largest political group wants to reduce pressure on companies…
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El Nino is worried about the counter-firm ringgit as well as palm oil.
The price of Malaysian palm oils futures was little changed on the following session after rising in the prior session. This…
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Germany to build emergency gas reserves to boost energy security
The German Economy Ministry has confirmed an earlier report that it is preparing plans for a strategic gas reserve owned…
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Source: US talks with Europe on co-production of missiles
Source: The U.S. and Germany are in discussions about establishing a co-production facility for Lockheed’s PAC-3 Patriot…
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Shell slightly raises its guidance for Q2 integrated production
Shell raised its guidance on Tuesday slightly for its 'integrated gas production' in the upcoming April-June quarter, but…
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Source: Germany to set aside up to EUR1.5bn for emergency gas reserves
A person with knowledge of the matter said that Germany's Economy Ministry was preparing?plans to establish a state-owned strategic gas reserve.
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Cafu says Brazil must learn how to play but supports Ancelotti's rebuilding
Brazil's World Cup wound is once again open and the only cure for Cafu will not be in tactics, systems, or another forensic?search?for scapegoats.
Shale Oil & Gas
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Source: Germany to set aside up to EUR1.5bn for emergency gas reserves
A person with knowledge of the matter said that Germany's Economy Ministry was preparing?plans to establish a state-owned strategic gas reserve.
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Germany to introduce investor-friendly reforms in gas power stations
According to a draft document that will be presented to the German parliament on Thursday, the governing coalition in Germany…
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Cafu says Brazil must learn how to play but supports Ancelotti's rebuilding
Brazil's World Cup wound is once again open and the only cure for Cafu will not be in tactics, systems, or another forensic?search?for scapegoats.
LNG
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QatarEnergy Plans to Restart LNG Output
QatarEnergy is ready to resume liquefied natural gas production at its Ras Laffan LNG plant very quickly and could reach…
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Sempra Begins LNG Production at Mexican Site
Sempra Infrastructure, a subsidiary of U.S. electric and gas utility Sempra, said its ECA LNG Phase 1 project has begun producing…
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TotalEnergies Remains Silent as Russia Approves Sale of Arctic LNG 2 Stake
Russian President Vladimir Putin has approved the sale of a 10% stake in the sanctioned Arctic LNG 2 project held by France's…
Renewables
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VEGOILS - Palm oil drops to a near 3-week low and suffers a second weekly loss
Malaysian palm oil futures fell?to an almost three-week low Friday amid expectations of rising production and increasing?stockpiles.
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Palm oil production drops, and it is likely to be the second consecutive week of a loss in output. Stock fears are also causing a decline.
Malaysian palm futures were down slightly on Friday, indicating that they are on course for a second loss in a week, due…
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Britain eliminates the requirement for planning consultation to accelerate major infrastructure projects
The British government announced on Thursday that it will remove the mandatory requirement of a 'pre-application consultation'…
