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European benchmark gas prices plummet on Middle East ceasefire agreement
The European benchmark 'gas contract' plunged on the morning of Wednesday after U.S. president Donald Trump agreed to a two-week ceasefire. This raised hopes of a return of oil and LNG through the Strait of Hormuz. Trump said that the last-minute agreement was contingent on Iran agreeing to stop its blockade against oil and gas through the Strait.
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TSX rises more than 1% after US-Iran truce calms down investors
Canada's main index of stocks soared on Wednesday as?mining shares led broad-based gains? after a U.S. - Iran ceasefire boosted investor sentiment. By 10 a.m. The S&P/TSX composite index was up 1.57 % at 33,757.56 ET. The U.S.-Iran ceasefire of two weeks has ended a six week conflict that had impacted energy supplies and raised inflation concerns.
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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 Reuters on Wednesday.In March, QatarEnergy halted production of LNG and associated products due to military attacks on facilities in Ras Laffan and Mesaieed.The…
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Venezuelan Refineries Drop to to 31% of Crude Processing Capacity
Venezuela's refining network is processing some 399,000 barrels per day (bpd) of crude, or 31% of its 1.29 million-bpd installed capacity, below the 35% of capacity it reached in February as state-run company PDVSA struggles to keep units in service after restarting them, workers…
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The oil lobby group claims that the export tax in Brazil is an obstacle to new investment
The head of the lobby group IBP said at a Wednesday event that Brazil's new export tax on crude oil, which was created by the government a month ago, is a hurdle to new investments for oil majors. He added that the group may file a suit against the tax. As oil prices rose due to the U.S./Israeli war against Iran…
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Libya announces new discoveries of oil and gas with three major energy firms
The National Oil Corporation of Libya (NOC), a state-run company, announced in separate statements that it had made three…
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Brazil weighs fast-tracking biodiesel tests as diesel prices spike
The head of the Brazilian soy crushers' association stated on Wednesday that the government was looking for ways to speed…
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The oil lobby group claims that the export tax in Brazil is an obstacle to new investment
The 12% tax on exports of crude?oil, which was introduced by the Brazilian government about a month ago, is a barrier to…
Latest news
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Sources say that the US SEC has appointed Gibson Dunn as its new enforcement director.
Three sources with knowledge of the matter said that the U.S. Securities and Exchange Commission had appointed a?white collar…
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Brazil's Raizen launches debt talks, eyeing asset sales
Two people involved in the negotiations say that Brazil's sugar and fuel giant Raizen has begun to discuss converting about…
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McGeever: Global imbalances are back and there is no solution in sight.
Remember global imbalances? They're back. In a world marked by increasing self-interest and protectionism, the prospects…
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Italy rejects sending ships to patrol the Hormuz Strait in the absence of a U.N. mandate
Matteo Salvini, the Deputy Prime Minister of Italy, said that Italy would not send any ships to help 'police' the Hormuz…
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Palm oil drops to a two-week low after ceasefire, dragging crude oil down
Malaysian palm futures fell more than 3% on Tuesday, hitting their lowest level in two weeks, due to a sharp fall in crude…
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Oil prices plunge on Iran ceasefire, causing European energy stocks to fall
After weeks of gains, European oil and gas stocks fell sharply Wednesday. Equinor, a Norwegian company, led the declines, falling 13%.
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Australian State calls for quicker approvals of new oilfield
Queensland, Australia's state, said on Wednesday that it would urge the federal government to streamline approvals of a 'potentially'…
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VEGOILS - Palm oil drops by more than 3% on US-Iran truce
Malaysian palm oil futures fell more than 3% on Wednesday, due to a sharp fall in crude oil prices following a U.S.-Iran ceasefire deal.
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Malaysia to expand biodiesel program in phases, Minister says
The Plantation and Commodities Minister announced on Tuesday that Malaysia will expand its palm-based B20 Biodiesel Programme?nationwide, in phases.
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Palm oil prices rise on stronger crude oil and strong exports
Malaysian palm futures rose on Tuesday as the market recovered its losses from the previous session. This was due to a combination…
Shale Oil & Gas
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Oil prices plunge on Iran ceasefire, causing European energy stocks to fall
After weeks of gains, European oil and gas stocks fell sharply Wednesday. Equinor, a Norwegian company, led the declines, falling 13%.
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Australian State calls for quicker approvals of new oilfield
Queensland, Australia's state, said on Wednesday that it would urge the federal government to streamline approvals of a 'potentially'…
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Shell reduces Q1 production forecast after Qatar disruptions citing conflict with Iran
Shell cut its first-quarter outlook for its integrated gas production on Wednesday to reflect the impact of the 'Middle East conflict' on Qatar.
LNG
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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…
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Thailand Seeks LNG Supplies from Malaysia Due to Middle East Conflict
Thailand is actively seeking additional LNG supplies from Malaysia following disruptions caused by the ongoing Middle East conflict, Thai energy gover
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Australia Warned Against Taxing LNG Windfall Profits
Shell has warned Australia against introducing a windfall tax on gas exporters, saying such a move would deter investment…
Renewables
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VEGOILS - Palm oil drops by more than 3% on US-Iran truce
Malaysian palm oil futures fell more than 3% on Wednesday, due to a sharp fall in crude oil prices following a U.S.-Iran ceasefire deal.
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Malaysia to expand biodiesel program in phases, Minister says
The Plantation and Commodities Minister announced on Tuesday that Malaysia will expand its palm-based B20 Biodiesel Programme?nationwide, in phases.
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Palm oil falls for second consecutive session due to crude oil weakness
The price of crude oil fell, and the market was impacted by it. The benchmark palm?contract? for June delivery at Bursa Malaysia's…
