World Energy News

The financial week in five charts - Houthis and gilts, wildfires and more

Open Interest (ROI), every Friday, distills the past five days' financial activity into a series of charts that highlight the most important trends, surprises, and missed moves. 1. ALERT RED! RON BOUSSO is a columnist for ROI Energy. After the war broke out on February 28, the 'Strait of Hormuz' was largely closed.
FT reports that BP is close to a deal to sell its solar business to a Kuwait-backed group.

The Financial Times reported that BP has advanced discussions to sell its Lightsource solar business to a consortium backed Kuwait's sovereign fund. The energy giant is focusing on oil and natural gas in order to boost?returns. The report, citing sources familiar with the situation…
Argent LNG receives US approval to export to countries with free-trade agreements

The U.S. Department of Energy authorized?Argent?LNG to sell liquefied gas from its proposed Louisiana terminal to countries with free-trade agreements that include the U.S. This is a major federal approval for the developer as it moves towards a final decision on the project. Argent LNG, a privately-held U.S.
Baker Hughes reports that US energy companies have cut back on drilling for the first time in six-weeks.

Baker Hughes, a closely-followed energy'services' firm, said in a report on Friday that U.S. firms have cut back the number of operating rigs for the first six weeks. Total oil and gas rig counts, an indicator of future production, dropped by one in the week ending July 24. This is the lowest level since mid-July.
Bloomberg News reports that Devon Energy is considering a $4 billion sale for its Eagle Ford and Powder River assets.

Bloomberg News, citing sources familiar with the situation, reported that U.S. oil producer Devon Energy is considering a possible sale of its Eagle Ford and Powder River shale assets, which could fetch more than four billion dollars. Investors continue to pressure Devon Energy to…

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Shale Oil & Gas

In July, Russia's oil revenues increased by 60% year-on-year

Calculations showed that the rise in oil prices globally has led to a '60% increase in the state revenue of Russia in July compared to the same period a year earlier. The overall revenue increase of?year-on-year was also attributed to a steep rise in?profit-based tax proceeds from oil production during the second quarter. Russia is the third largest oil exporter and producer in the world, after Saudi Arabia and the United States.

LNG

Egypt Looks to Sign Multi-Year LNG Supply Deal

Egypt is in talks with energy majors including Shell, TotalEnergies and BP to buy 15 to 18 cargoes of liquefied natural gas per month for at least three years, three trading and industry sources familiar with the matter told Reuters.The talks come as Egypt's domestic production struggles to keep pace with rising demand and as global LNG markets remain tight during the Iran conflict, which has curtailed shipping through…

Renewables

Malaysia's fear of resources tests Asia's fastest-growing data centre

Malaysia, which has surpassed Singapore as the fastest-growing hub for data centres in the region, is now under increasing scrutiny due to the resource debate that's spreading to emerging Asia. The protests against a data center complex at the southern tip of Johor, the epicenter of the boom in the state, were the first ever of their kind to be held in the country. The burden of the communities in Selangor has been politicised.

The financial week in five charts - Houthis and gilts, wildfires and more

FT reports that BP is close to a deal to sell its solar business to a Kuwait-backed group.

Argent LNG receives US approval to export to countries with free-trade agreements

Baker Hughes reports that US energy companies have cut back on drilling for the first time in six-weeks.

Bloomberg News reports that Devon Energy is considering a $4 billion sale for its Eagle Ford and Powder River assets.

Low Danube levels cause output of Serbia's largest hydropower plant to fall by a third

Bloomberg News reports that HF Sinclair has sued the EPA over delays in a decision on biofuel exemption.

Canadian Solar opens US Solar Cell Factory in Indiana

Latest news

Palm oil reaches 15-week peak, posting third weekly gain

NextEra Energy beats second-quarter profit estimates

Top US oilfield services firm SLB beats quarterly profit estimates

EU sugar outlook dims due to dry weather hitting beet crops

Palm oil reaches 15-week peak on Dalian strength and oil, with a third weekly gain.

Sources say that oil executives are rushing to complete the contract migration in Venezuela.

TotalEnergies CEO: Arctic LNG 2 plant to be closed in Russia

TotalEnergies CEO: We earn $400 million per year by selling Russian LNG

Brazil could triple its palm planting area in 10 Years, Industry Leader Says

Italian court lifts Sardinia's ban on renewable energy permits

Shale Oil & Gas

In July, Russia's oil revenues increased by 60% year-on-year

Sources say that oil executives are rushing to complete the contract migration in Venezuela.

TotalEnergies CEO: Arctic LNG 2 plant to be closed in Russia

TotalEnergies CEO: We earn $400 million per year by selling Russian LNG

LNG

Egypt Looks to Sign Multi-Year LNG Supply Deal

US LNG Tanker Completes First Direct Sail to China Since Tariff Dispute

Argent LNG, Naftogaz to Explore US LNG Supply

Australian Inpex Workers Set Industry Precedent With New Pay Deal

Renewables

Malaysia's fear of resources tests Asia's fastest-growing data centre

Palm oil reaches 15-week peak on Dalian strength and oil, with a third weekly gain.

China Plans to Increase Wind, Solar Generation by 50% in Five Years

Brazil could triple its palm planting area in 10 Years, Industry Leader Says

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