Trade executives say that global LNG demand will rise as new supplies lower prices.
Trading executives at the Asia Gas Markets Conference on Tuesday said that global liquefied Natural Gas (LNG), demand will rebound due to new supply entering the markets, which is expected to drive prices down and spur the interest of price-sensitive buyers. Mohammad Arif is the head of LNG Asia Pacific at Uniper. He said that demand would gradually develop, with prices under $7-8 per million British Thermal Units (mmBtu). Asian spot LNG is currently priced at $11.20/mmBtu. Benjamin Comninos is the director of trading portfolio optimization for Cheniere.
The return of meat on the menu is a feature of MORNING BID, EUROPE
Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Investors may feel tender this morning, after a brutal after-hours session that smashed tech megacaps as well as high-flying meme stocks. Beyond Meat's shares fell 11.4% after-hours, as the company that was heavily shorted for its fake meat reversed direction after retail investors flocked to the stock. The share price had risen as high as 1,479% in the last week. Tesla shares dropped 3.8% after-hours…
Ares Management purchases stake in EDPR assets for $2.9 billion
Ares Management announced on Monday that a unit of its Infrastructure Opportunities division had acquired a 49 percent stake in a diversified U.S. Renewable Energy Platform from EDP Renovaveis, valuing it at approximately $2.9 billion. Since September 2024, Ares Infrastructure Opportunities funds have owned 5.7 gigawatts of capacity in 11 states and 5 U.S. markets. Investment manager doubles down on renewable energy assets and infrastructure due to the rising demand for electricity, driven by data centers and rapid growth of artificial intelligence.
Australia's renewables drive powers a 'golden rush' of big battery bets
Investors in Australia’s battery energy storage industry are taking advantage of the chaos on the spot markets. They have been emboldened by Australia’s efforts to expand its renewable energy infrastructure. Investors in the sector are now funding projects that do not have a fully-guaranteed long-term revenue. The first two battery projects exposed to the market this year were funded. As the demand for renewable energy grows, analysts say that more flexible financing will make money available in this sector.
MPOC says that palm oil is expected to trade between 4,200 and 4500 ringgits in the coming weeks.
The Malaysian Palm Oil Council stated on Monday that palm oil prices are expected to fluctuate between 4,200 and 4,500 Ringgit ($998 and $1,069) per metric tonne in the coming weeks due to a tight supply of vegetable oil and weak demand from key markets. The palm oil futures traded on the Malaysian Stock Exchange ended the morning at 4,464 Ringgit, close to the upper end of the range. The council stated that consumption of four major vegetable oil - palm, sunflower, soybean, and rapeseed - is expected to exceed production growth in 2026, leading to a small supply deficit.
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. Tsugaru stated that JERA was keen to secure supplies from Alaska LNG because of its proximity to Japan during an interview with the Gastech conference held in Milan.
Bapco Energies eyes fourth quarter completion for refinery expansion
Alexander van Veldhoven said that the group chief strategy officer of Bahrain's state oil company Bapco Energies, Alexander van Veldhoven spoke at the Asia Pacific Petroleum Conference in Singapore on Monday. He said that the expansion would increase Sitra's refinery capacity from 265,000 barrels per day to "just below 400,000 barrels per days". "We are at the end of this program. He added that the majority of units were already up and running. "We are getting close to commissioning our last refinery units," he said.
S&P Global predicts that Brent crude will reach $55 per barrel in the year-end.
An executive from S&P Global said that the price of Brent crude is likely to drop to $55 per barrel in the year-end. This was stated at Monday's Asia Pacific Petroleum Conference. Brent crude futures rose about 0.5% to $65.84 a barrel on Monday after OPEC+ decided over the weekend that they would increase output in October, but at a slower rate than previous months. This was due to expectations of weakened global demand. Dave Ernsberger is co-president of S&P Global Commodity Insights.
Danish trader InCommodities has appointed Gunvor's Brockmeyer as its U.S. expansion manager
Rich Brockmeyer, former Gunvor executive, was appointed as the new CEO of InCommodites for North America. The group plans to increase its penetration into the U.S. gas and power market. Brockmeyer, who most recently served as the Executive Committee member of energy trader Gunvor and oversaw North American power and natural gas operations, will join InCommodities on September 2. InCommodities, the trading firm, will establish a new office in Stamford, Connecticut and supervise the expansion of its U.S. Gas and Power Trading Desk.
Raychaudhuri: China's price wars are a steep battle.
Price wars have led to a collapse in profitability and an acceleration of deflation on the Chinese domestic market due to overcapacity. In response, the government launched a program called "anti-involution", which aims to counter deflationary pricing wars. This battle could last a long time. It has already seen some success, but it is still a long-term fight. Involution, the Chinese internet slang term for "competitive pressures" faced by young Chinese at school and in the workplace, was originally used to describe these pressures.
The markets bet Beijing will take action against China's overcapacity
This month, commodity prices have risen from steel to polysilicon as Chinese investors bet that Beijing will finally address overcapacity in the second largest economy of the world. The prices of nine industrial commodities, including coal, steel and polysilicon (a building block used in solar panels), alumina, and lithium carbonate, have risen by 10 to 68% over the past month, while the share prices for steelmakers, solar panel makers, and clean energy companies outpaced those for CSI 300 Index.
Orsted Favors Increasing Investments in Taiwan, South Korea
Orsted, the world's biggest offshore wind developer, will increase investment in Taiwan and South Korea where it has already been awarded projects, instead of expanding to new markets in Asia, a senior company official told Reuters on Monday.Rising costs, supply chain disruptions and loss of investor confidence in offshore wind have resulted in the Danish company losing around 80% of its market value from its 2021 peak."I think our main focus is now to double down on the key markets that we have chosen to win in…
China's solar sector remains red as the trade war causes problems
China's solar producers reported losses in the last week, as President Donald Trump's Trade War put additional pressure on demand. This was an industry that already faced low prices and tariffs for exports to America. Longi Green Energy, JinkoSolar and other top producers reported a combined net loss of 1.4 bn yuan (193 million dollars) in the first quarter. Losses for competitors JA Solar, Trina Solar, and others totaled 1.6 bn yuan, 1.3 mn yuan, and 1.6 mn yuan respectively. Longi, who also reported a loss of 8.6 billion Yuan in 2024…
Prices for gas in Europe are stable despite a healthy supply
The Dutch and British wholesale prices of gas were not much different on Thursday morning due to a healthy supply. According to LSEG, the benchmark Dutch front-month contract rose 0.17 euros to 34.30 euro per megawatt hour. The June contract, however, was 0.18 euros higher at 34.33 euro/MWh. The British day-ahead contracts was up 0.40 penny at 84.00 cents per therm. The total North-West Europe LNG send-out will be 2,638 gigawatt-hours per day (GWh/d), which is 60 GWh more than yesterday. "There is a steady flow of cargoes to Europe.
REFILE-ConocoPhillips plans layoffs as part of broad restructuring
ConocoPhillips plans to reduce staff. The company announced this on Tuesday. This is part of a broader effort to control costs and streamline operations following its $23 billion purchase of Marathon Oil. Job cuts are a sign of the pain that the oil and gas sector is experiencing as it faces higher costs and lower revenue due to prices hovering around $63 per barrel. Many companies claim they can't drill profitably at oil prices below $65 per barrel. Chevron, SLB and other oil giants announced their own layoffs in the first half of this year.
Trump tariffs stymie M&As and IPOs during what was expected to be a record-breaking quarter
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion. The Asia Pacific region was largely responsible for this, where three state-run deals announced on Sunday by China and a port deal driven by Trump nearly doubled the M&A volume compared to last year. Worldwide, banks are reducing deals and revenue. The first quarter volume in the U.S.
M&A revenues fall as Trump pursues his tariffs. Global deal activity is disappointing
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion. The Asia Pacific region was largely responsible for this, where three state-run deals announced on Sunday by China and a port deal driven by Trump nearly doubled the M&A volume compared to last year. Worldwide, banks are reducing deals and revenue. The first quarter volume in the U.S.
Copenhagen Infrastructure Partners closes third offshore wind project with Taiwan
Copenhagen Infrastructure Partners, a clean energy fund manager, announced on Wednesday that it had reached financial closure on its 495 Megawatt (MW), Fengmiao I Wind Project, located off the coast Taichung in Taiwan. CIP announced that Fengmiao 1, its third offshore wind farm in Taiwan, would be built by local and international suppliers with proven track records. CIP reports that Danish wind turbine manufacturer Vestas will provide 33 units of their latest 15MW turbines for Fengmiao I. Vestas supplies turbines to CIP’s two existing projects.
Exxon Mobil to receive LNG from ARC Resources
ARC Resources announced on Tuesday that it had signed a long-term liquefied gas supply contract with a division of Exxon Mobil. In recent years, global LNG demand has increased amid a move towards cleaner energy. The U.S. is now a major supplier of both Europe and Asia. ExxonMobil LNG Asia Pacific has announced that it will buy all of ARC’s LNG from the Cedar LNG Project, which is approximately 1.5 million tonnes per year (mtpa), ARC said. Cedar LNG, a project in partnership with the Haisla Nation, located on Canada's West Coast and Pembina Pipeline, will begin commercial operations by 2028.
EDPR reports unexpected loss due to heavy impairments in US and Colombia
EDP ???? ?Renovaveis ? ??????????????????????? The world's fourth largest wind power producer posted a net loss of unexpected 556 million euro ($584million) in 2024 due to heavy impairments for projects in the United States, Colombia and other countries, despite revenue increases. EDPR surveyed analysts who expected a profit average of 272 millions euros. The company, which is majority owned by Portugal’s EDP, reported that non-recurring charges totaling 777 million euro had a negative impact on the bottom line. This was "mainly due to the U.S.