Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Ex-Tropical cyclone Narelle, which has been affecting Australia's Queensland state and Northern Territory since March 20, further affected production at two of Australia’s largest liquefied natural gas plants. The storm system was waning in the country's northwestern region.
Inpasa, a corn ethanol producer, opens a new plant in Brazil
Inpasa, a corn ethanol producer in Brazil's Bahia State, announced?that it had started operating at its new facility. It aims to produce 470 million liters of biofuel per year. In an interview, Gustavo Mariano said that the plant…
Oil and gas exploration is back. Energy giants are hunting to replenish reserves
Executives at the CERAWeek Conference in Houston, Texas, this week declared that global energy companies have returned to the basics, focusing their efforts on finding?new oil and gas sources. This marks the end of years of underinvestment. The'shale revolution' in the U.S.
Oil rally fails to boost drilling as services firms are squeezed
Oilfield services firms around the world are bracing themselves for a drop in earnings, as the Iran War?disrupts the energy infrastructure throughout the Middle East. Producers will hold off on new drilling until the higher oil prices have been proven to be durable.
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, an energy services firm, said that U.S. firms have 'cut back on the number of oil & /natural gas rigs for a second consecutive week for the first time since mid-January. The number of oil and gas rigs, a good indicator of future production…
US finalizes biofuel blending quotas for 2026-27
On Friday, the 'Trump Administration' finalized a new mandate for biofuel blending volumes for 'the U.S. oil refiners. This required more fuels from corn and agricultural products, than originally proposed. The Environmental…
Russia's Threatens to Divert LNG Cargo From Europe, Options Limited
Russia's threat to halt liquefied natural gas (LNG) deliveries to Europe and divert cargoes to Asia would prove difficult to achieve because of its long-term contracts and need for more Arctic-class tankers, industry analysts…
After oil shock, Argentina allows upto 15% ethanol to be blended into gasoline
The government of Argentina announced on Friday that it would 'allow local firms to voluntarily blend up to 15% ethanol in gasoline. This is a move designed to reduce the impact of higher oil prices on fuel costs. The Energy…
Palm futures post fourth consecutive weekly gain
After losses earlier in week, Malaysian palm futures posted a fourth weekly gain. A softer ringgit helped support the market. However, uncertainty about the Middle East war and crude oil outlook capped gains. At close, the benchmark…
EU Ministers call for a united front on the energy crisis
The European Union Finance Ministers will coordinate their response on Friday to the energy price surge caused by the Iran 'war. They will ensure that the measures help the most vulnerable and?move Europe away from fossil fuels while keeping fiscal costs and demand under control.
EUROPE GAS - European gas prices rise on the back of oil gains and low stock levels
The benchmark British and Dutch wholesale gasoline prices rose on Friday morning. This followed a rise in oil prices despite the fact that U.S. president Donald Trump had extended a pause to attacks against Iran's energy plants.
Taiwan freezes its electricity rates to maintain the industry's competitiveness and stabilize prices
The economy ministry announced 'on Friday that Taiwan won't raise its electricity prices for the time being, despite the fact that energy prices are higher due to the Middle East war. This is to maintain price stability and to keep the industrial competitiveness.
Palm vegoils gains on weakening ringgit but is set to end its three-week rally
Malaysian palm oil futures rose on Friday due to a weaker ringgit. However, they are on course for their first weekly decline in four weeks, as a result of uncertainty over the Middle East war and crude oil outlook. By midday…
India reduces special excise duty on petrol and diesel
India has slashed the special excise duty on 'petrol and diesel' as fuel prices remain volatile, with supplies being?stifled by the Iran war. The Indian Finance Ministry reduced the special excise tax on petrol from 13 rupees…
Venture Global and Edison resolve arbitration dispute regarding early Calcasieu Pass gas sales
Venture Global and Edison announced on Thursday that?they?had?reached an agreement in order to settle a longstanding arbitration dispute relating to allegations that the American exporter liquified natural gas had failed to deliver contractual shipments to the Italian firm.
Iran has been seen as focusing on renewable energy investments with a focus on security and not climate.
Executives at the CERAWeek Conference in Houston said that energy security concerns, which once limited investment into renewable energy, could now accelerate its growth more than climate change worries. This is because oil and…
After a month of high energy prices, Big Oil will reap billions in profits from the war with Iran
While Big Oil executives met this week to discuss the largest-ever disruption to global energy supply due to the conflict in Iran, they didn't address one aspect of the impact: the multi-billion-dollar windfall that they will…
Iran is open to Spain's request for transit through Hormuz
The Iranian Embassy in Spain announced 'on Thursday' that Iran would accept any request made by Madrid in relation to the Strait of Hormuz, because Spain "respects" international law. This is the first time such a concession has been offered to a member state of the EU.
TotalEnergies honours all LNG contracts in Qatar despite outages
TotalEnergies CEO Patrick Pouyanne stated?on Thursday? that the company decided not to declare force majeure for any of its customers of liquefied gas and would honor all LNG contracts in terms of volume and price. Qatar, the largest LNG producer in the world…
Trump will announce measures to assist US farmers on Friday
Donald Trump said on Thursday that his administration will announce "actions to assist U.S. farmers" on Friday as the White House prepares for an event to highlight the agricultural sector. The move is made as the Administration…