Australia's Santos Chief executive bets on cash-flow boost as third bidder walks away
Kevin Gallagher, Santos' boss, said on Friday that he does not plan to retire. He expects the company to see a dramatic increase in cash flow over the next few decades. This comes after the third takeover bidder in seven years backed out of a deal. A consortium led by Abu Dhabi National Oil Company, or ADNOC, failed to make a $18.7-billion bid for Santos due to disagreements over commercial terms.
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, a joint venture between Blackstone-backed GeoSouthern Energy and pipeline operator Williams Companies…
Alaskans fear higher energy prices as Trump drills
Alaskans spend nearly two times as much on electricity as the national average. Matt Goodnow, financial counselor at a hospital located in Homer, Alaska, a fishing village on the Kenai Peninsula, said that higher energy costs would be detrimental to the community. The Trump administration is not only planning to eliminate federal funding for renewable energy projects and to remove tax breaks…
Glenfarne and South Korea's POSCO sign 20-year deal for LNG supply
Glenfarne’s Alaska LNG unit announced on Thursday that it had signed an agreement for the provision of 1 million tonnes of LNG per year (mtpa), from its planned project, to South Korean trading company POSCO International over a period 20 years. Since the Russian invasion of Ukraine in 2022, global demand for liquefied natural gas has risen. This has led buyers in Europe and Asia into long-term supply agreements with U.S. suppliers.
GASTECH-Japan’s JERA looks at Alaska and Qatari Liquefied Natural Gas to meet demand and diversify supply
JERA, Japan's largest power generator, is increasing its interest in U.S. LNG, especially from Alaska. It is also in talks with QatarEnergy about securing faster and more efficient routes for supply to Japan. JERA, the company's Chief Low-Carbon Fuel Officer, told reporters that it is exploring other LNG suppliers than its traditional ones to meet Japan’s increasing energy needs. AI-driven data centers are driving up demand for electricity.
Analysts say that ConocoPhillips’ deep-seated layoffs demonstrate the need for capital discipline.
Investors and analysts have said that ConocoPhillips needs to focus more on its capital discipline and its investment priorities to be competitive against its peers, as oil prices are falling and revenues are also declining. This comes after the company announced it was laying off up to 25 percent of its staff in order to reduce costs. ConocoPhillips, the third largest U.S.
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for Washington to relax sanctions against Russia and to encourage the Kremlin into peace in Ukraine. Due to sanctions imposed after the Ukraine invasion in February 2022…
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for the Kremlin, to encourage it to accept peace in Ukraine and Washington to ease sanctions against Russia. Due to sanctions imposed after the Ukraine invasion in February 2022…
US Vice President Vance: Russia has made significant concessions to Ukraine peace deal
JD Vance, the U.S. vice president, said that Russia had made "significant concessions," toward a negotiated resolution in its war against Ukraine. He was confident of progress despite the absence of clear signs that the conflict was nearing an ending. Vance, speaking on NBC’s “Meet the Press With Kristen Welker”, said that Russian President Vladimir Putin had made several concessions.
US Vice President Vance: Russia has made significant concessions to Ukraine peace deal
JD Vance, the U.S. vice president, said that Russia had made "significant concessions", towards a negotiated resolution in its war against Ukraine. He was confident that progress was being made even though there were no clear advancements towards the end of the conflict. Vance, speaking on NBC’s “Meet the Press With Kristen Welker”, said that Russian President Vladimir Putin had made several concessions.
Putin sees the 'light at the end of tunnel' for Russia-US relations, and cooperation in Arctic Alaska
Vladimir Putin, President of Russia and the United States, said that "light is at the end" of the tunnel in Russia-U.S. Relations and that both countries are discussing joint projects for the Arctic and Alaska. In response to questions from reporters during a tour of a nuclear research center, the Russian president said that he believed Donald Trump's leadership skills would be instrumental in helping to restore relations.
Russian Oil Supplies to Hungary and Slovakia Halted After Ukraine Attack
Russian oil supplies to Hungary and Slovakia could be suspended for at least five days after a Ukrainian strike on a facility in Russia, Hungarian and Slovakian officials said on Friday, in a widening of the fallout of Russia's war in Ukraine.Russia and Ukraine have stepped up attacks on each other's energy infrastructure, hitting Ukrainian domestic heating supplies, Russia's Druzhba pipeline and other facilities, over the past few weeks as U.S.
Gas prices in Europe remain stable ahead of US-Ukraine Meeting
Dutch and British wholesale prices for gas were mostly unchanged on Monday morning, after talks in Alaska failed to achieve a ceasefire on Friday and before a meeting today in Washington between leaders of the United States, Ukraine, and Europe. U.S. president Donald Trump said that on Saturday, Ukraine should reach a deal with Russia to end the conflict and that…
Exxon to return to Sakhalin-1 after Russia's decree
The Russian President Vladimir Putin signed on Friday a decree which could allow foreign investors to recover shares in the Sakhalin-1 project, including Exxon Mobil. The decree was signed on the same day that Donald Trump and Russian President Vladimir Putin met in Alaska. At the summit, opportunities for business collaboration and investment will be discussed alongside discussions to bring peace to Ukraine.
EUROPE GAS - Prices soar ahead of Trump-Putin Summit
The Dutch and British wholesale prices of gas were in a tight range on Friday as the market awaited today's meeting between U.S. president Donald Trump and Russian President Vladimir Putin. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub at 0857 GMT was 1,61 euros higher, at 33.71 Euro per megawatt hour. The Dutch contract for the day ahead was down by 0.35 euros at 31.30 euro/MWh.
Kremlin: Putin and Trump will discuss the 'huge potential' of economic growth as well as the war in Ukraine.
Yuri Ushakov, a Kremlin aide, said that Donald Trump and Vladimir Putin will discuss Friday in Alaska the "huge potential" of Russia-U.S. business ties and the prospects for ending Ukraine's war. Ushakov informed reporters that the summit will begin at 1930 GMT with the two leaders seated one-on-one and accompanied by only translators. He said that the delegations of the two countries will meet for a working meal…
Wholesale Gas Prices See Little Change as Low Wind and Nuclear Boost Demand
Dutch and British wholesale gas prices were little changed on Tuesday morning as demand for gas for power was boosted by low wind and nuclear output amid a heatwave in much of Europe.The benchmark Dutch front-month contract at the TTF hub was down 0.2 euro at 32.80 euros per megawatt hour (MWh) or $11.17/mmBtu, by 0823 GMT, LSEG data showed.The Dutch day-ahead contract TRNLTTFD1 was…
Santos adjusts its 2025 production forecast in response to the Cooper Basin Floods
Santos, Australia's largest oil and gas company, tightened its production forecast for the full year on Thursday in order to take into account flood-related disruptions. It also reported a decline of more than 2% in its second-quarter revenue. In 2025, the country's second largest gas producer is expected to produce 90 million to 95 million barrels equivalent oil (mmboe), compared with an earlier forecast of 90-97 million mmboe.
CPC Corp Looks to Buy US Shale Gas Assets
Taiwan's state-owned energy company CPC Corp is in early stage discussions to buy shale-gas producing assets in the United States, three sources familiar with the matter said, in a bid to secure natural gas supplies to fuel Taiwan's economy.If a deal is struck, CPC would join a growing list of Asian companies taking ownership of U.S. natural gas assets, gaining exposure…
Copper futures rise after Trump announces a 50% tariff on imported copper
The President Donald Trump announced that he would announce a 50% copper tariff on Tuesday in order to increase U.S. production. Copper is a critical metal for electric vehicles, military equipment, the power grid, and many consumer products. U.S. Comex Copper Futures jumped over 12%, reaching a new record high, after Trump announced his planned tariffs. The announcement came earlier than expected and at a steeper rate.