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Middle East Conflict Restricts Supply for European LNG Stock Refill
The escalating conflict in the Middle East due to the U.S.-Israeli war with Iran is tightening global liquefied natural gas (LNG) availability and constraining Europe's ability to refill storages which depleted to their lowest since 2022 over the summer, the European Network of Transmission System Operators for Gas (Entsog) said on Thursday.The con
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Baker Hughes reports that US drillers have cut oil and gas rigs three times in the last four weeks.
Baker Hughes, a renowned energy services firm, said that U.S. firms have cut the number of oil and gas rigs for the third consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, dropped by three in the week ending April 10 to 545, the lowest level since late March.
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Brazil's ethanol industry is ready to meet demand for higher blends
Industry figures say that Brazil's ethanol producers are prepared to increase production if the government increases the legal blend of anhydrous alcohol?blended into gasoline this year from 30% to 32 percent. They also said that production was?on its way to a record. Brazil's government…
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Nigeria, Morocco to Sign $25b Gas Pipeline Agreement
An intergovernmental agreement (IGA) on a planned $25 billion Nigeria-Morocco gas pipeline will be signed this year, the head of Morocco's hydrocarbons and mining agency (ONHYM) said.Agreed a decade ago, the project - known as the African Atlantic Gas Pipeline - would run 6,900 km on a hybrid offshore-onshore route with a maximum capacity of 30 bil
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Germany Plans For $1.9 billion of Fuel Price Relief Amidst Global Energy Crisis
Germany's coalition government has agreed fuel price relief for consumers and businesses worth 1.6 billion euros ($1.9 billion), ending a dispute over how to respond to an oil price surge triggered by the Iran war.The energy tax on diesel and petrol will be cut by about 0.17 euros per litre for two months…
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Chief of IEA says that IEA is prepared to tap into global oil reserves if necessary
Fatih Birol said on Monday that he hoped another oil release was not required, but "we are ready to act" in the event of…
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EU launches critical minerals procurement platform
The European Union launched on Monday the crucial'minerals' section of its 'energy and materials procurement platform, which…
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Sources say that Congo copper and cobalt miners have reduced their chemical usage as the Iran war has disrupted supplies.
Sources with knowledge of the situation say that some key leaching chemicals have been withdrawn or cancelled by suppliers in Congo this month.
Latest news
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Botswana signs mineral and energy exploration deal with Oman
The presidency announced on Monday that a trip to Oman to strengthen economic relations led by the Botswana president resulted in multiple agreements…
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South Africa signs new climate loan and critical minerals agreement on Germany's visit
South Africa's Foreign Minister said that Germany had agreed to give South Africa an additional 200 million euro concessional climate loan.
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McGeever: Wall Street's fantasies about earnings may be a harsh reality soon.
There's something not quite right. Geopolitical risks are out of control. U.S. Oil prices have increased over 70% in the past year.
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Eni CEO: EU should reconsider plans to ban Russian gas imports
Eni's head, an Italian energy company, says that the?European Union needs to reconsider its plans for a gradual?ban on imports…
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Palm prices rise as Middle East tensions spur buying interest
Malaysian palm futures rose slightly on Monday, recovering from the previous session’s loss. Geopolitical concerns in the…
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Prices of EUROPE GAS rise after US-Iran talks fall short
Dutch and British gas rates?rose? on Monday, after U.S. and Iran talks failed to reach an agreement to end the war, jeopardizing…
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Baker Hughes sells Waygate Unit to Hexagon For Around $1.45 Billion
Baker Hughes, a provider of oilfield services, sold its Waygate Technologies division to Hexagon, a Swedish industrial technology…
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BP will buy three offshore Namibian block as the shift towards oil and gas intensifies
BP has agreed to purchase an operating 'interest' in three offshore exploration -blocks in Namibia, from Canada-based Eco Atlantic Oil & Gas.
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TotalEnergies finds hydrocarbons near existing production sites in Congo
PARIS, '13 April - French oil giant TotalEnergies announced on Monday that it had found hydrocarbons in a drilling campaign…
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Palm prices rise by over 1% amid Middle East tensions
The price of Malaysian palm oil futures rose by more than 1% on Monday. This was a slight improvement from the previous session…
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Asia increases US LPG imports in order to replace Middle East LPG supply
Analysts and traders said that Asia's largest liquefied gas (LPG), including India and China are racing to replace Middle…
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Australia PM Albanese will visit Brunei and Malaysia to shore-up fuel supply
The Australian Prime Minister Anthony Albanese is visiting Brunei this week and Malaysia next, as part of his diplomatic…
Shale Oil & Gas
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BP will buy three offshore Namibian block as the shift towards oil and gas intensifies
BP has agreed to purchase an operating 'interest' in three offshore exploration -blocks in Namibia, from Canada-based Eco Atlantic Oil & Gas.
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TotalEnergies finds hydrocarbons near existing production sites in Congo
PARIS, '13 April - French oil giant TotalEnergies announced on Monday that it had found hydrocarbons in a drilling campaign…
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Asia increases US LPG imports in order to replace Middle East LPG supply
Analysts and traders said that Asia's largest liquefied gas (LPG), including India and China are racing to replace Middle…
LNG
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QatarEnergy Prepares to Restart LNG Production
QatarEnergy is preparing to restart liquefied natural gas (LNG) production, two sources with knowledge of the matter told…
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Novatek Establishes Company to Build Vessels, Floating Facilities Amid Global Tanker Shortage
Russia's largest producer of liquefied natural gas Novatek has set up a company to build its own vessels and floating facilities, according to the sta
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Italy to Receive LNG From US Golden Pass Facility Starting June
Italy will begin receiving liquefied natural gas (LNG) from the Golden Pass LNG facility in the United States, a joint venture…
Renewables
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Palm prices rise by over 1% amid Middle East tensions
The price of Malaysian palm oil futures rose by more than 1% on Monday. This was a slight improvement from the previous session…
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Vineyard Wind sues GE Vernova for preventing it from abandoning its wind farm
Vineyard Wind filed a suit to stop a GE Vernova unit that supplies wind turbines from cancelling agreements and abandoning…
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France doubles its support for electricity use as a source of energy
The French government will double its current support for the country by spending up to 10 billion euro ($11.72 billion), annually, until 2030.
