Palm oil mirrors the strength of its Chicago rival; crude provides support
Malaysian palm futures closed Monday higher than they had done in a week, following gains made by Chicago edible oils. Meanwhile, advances?in energy complex?also added support. The benchmark?palm-oil contract for May delivery at Bursa Malaysia's Derivatives Exchange rose 104 ringgit or 2.57% to 4,146 Ringgit ($1,056.57) per metric ton. The price of CPO futures on the Bursa Malaysia exchange opened higher today…
Source: Nigeria divides OPL 245 oilfield OPL into four blocks as part of deal with Eni and Shell
Sources say that Nigeria has divided the 'OPL 245 oil block into four assets, which will be operated by Eni or Shell. This could determine the future of a field that is at the heart of one of oil industry history's largest?corruption cases. The agreement opens the door to the development of OPL 245, Nigeria's largest deepwater reserve, which has been untapped for nearly?three decades due to overlapping lawsuits from multiple countries.
Asia's dependence on Middle East oil and LNG
Asia is highly dependent on Middle East oil and gas, which makes it vulnerable to a prolonged disruption of supply if the conflict that has erupted following the Israeli and U.S. attacks on Iran continues. Here is an overview of the imports and stocks for major Asian buyers who buy Middle Eastern oil and natural gas. CHINA China is currently the largest crude oil importer in the world and also the biggest buyer of Iranian crude.
Godavari Biorefineries in India to launch grain-based distillery by June quarter
Godavari Biorefineries in India plans to commission a grain-based distillery capable of producing '200 kilolitres per day (KLPD) by the end of the June quarter. This move is intended to diversify a company's feedstock, and allow it to use both sugarcane and corn - depending on the market price. The new distillery is integrated into our existing distillery. Samir Somaiya?…
carried Ukrainian and Russian oil before attack
The Druzhba pipeline exported some Ukrainian oil, as well as much higher volumes of Russian crude, before it was damaged a month ago by a Russian strike that has led to a halt in supply, three industry sources familiar with the matter said.Oil shipments to Hungary and Slovakia through the pipeline primarily operated by Russia have been suspended since January 27 following what Kyiv says was a Russian attack on pumping installations in western Ukraine…
GKN's cancellation of plans for a magnet factory is a setback to Europe's goal for rare earths
GKN Powder Metallurgy scrapped plans to manufacture rare earth permanent'magnets' in Europe. Three sources familiar with the matter confirmed this, highlighting Europe’s struggle to create a domestic rare Earths?industry that can compete with China, the dominant producer. China controls 90% of the rare earth output processed and 70% of the mining production. Europe is being criticized for falling behind the U.S.
Wartsila CEO sees boost from Trump Datacenter Push
The CEO of the Finnish energy company said that a push to have U.S. datacentres use their own power would boost the demand for Wartsila’s environmentally friendly products and?help support a "double digit" increase in the hiring of service staff over the next 2 years. The White House announced on Wednesday that it will meet with technology companies such as Microsoft and Amazon on March 4…
Malaysia's Petronas reports a decline in profit and revenue for the third consecutive year 2025
Petroliam Nasional Bhd (or?Petronas? ) is the state-owned energy company in Malaysia. After the oil price fell, BP reported a lower profit and revenue for 2025. This is the third consecutive year of decline. Petronas has reported a profit of $45.4 billion (US$11.7 billion) after taxes in 2025. This is down from $55.1 billion in 2024. * Revenues fell from 320 billion to 266.1 billion ringgit by 2024.
Fugro reports year-loss due to challenges in renewables
Dutch geological data specialist Fugro reported on Friday a loss of 21 million euros ($25 million), reflecting the challenges faced by the offshore wind industry, and announced that its finance chief will step down in April. The Amsterdam-listed firm's revenue was 1.85 billion euro, which is 427 millions less than it was in 2024. Of this, 380 million euro were attributable the the slowdown on the renewables markets.
Sources claim that India wants to reduce coal imports for the power sector by 30% in this year.
India, which is the second largest thermal coal importer in the world, wants to reduce its imports by at least 30 percent. It has asked the industry to experiment with blending more domestic 'coal' with imported coal. India's power stations will import nearly 50 million tonnes of coal from countries such as Indonesia, South Africa and Russia by 2025. Two government officials…
Kazakhstan: Tengiz supergiant oilfield nearing capacity
Kazakhstan?Energy minister Erlan Akkenzhenov announced on Friday that oil production had almost reached full capacity in the largest oilfield, Tengiz. This was after the oilfield suffered a power failure at the end January. The decline in production at Tengiz, a Chevron-led project, caused Kazkhastan to reduce its oil exports. It also boosted the global oil price. The minister told reporters that "production has almost reached its full capacity.
Venezuela suspends 19 oil, gas production-sharing contracts signed under Maduro, sources say
Four sources familiar with the matter said that Venezuela's oil ministry suspended 19 contracts signed with private companies under the?administration? of President Nicolas Maduro. Sources say that the suspension of the contracts has not affected the oil and gas production in the country. The sources added that the state oil giant PDVSA sells the crude produced by the contracts even though they are suspended.
Steve Cohen's Point72 has hired a Castleton veteran trader to help with commodities, according to sources
Three sources told us that Steve Cohen's hedge fund Point72 Asset Management hired Ryan Sheffler to be its natural gas portfolio manager in order to expand the commodities trading desk. Point72 is one of the few large hedge funds that has not yet built a commodities business. It has been pushing into this space in recent weeks. Citadel, Millennium and other investment firms have made huge profits due to the extreme volatility of commodity prices.
Venezuela suspends 19 oil, gas production-sharing contracts signed under Maduro government, sources say
Four sources with knowledge of the?move? said that Venezuela's Oil Ministry has suspended a total of?19 oil-production-sharing contracts signed by?private companies under President Nicolas Maduro. Sources say that the suspension of the contracts has not affected the oil and gas production in the country. The sources added that the state oil giant PDVSA continues to sell crude oil produced under these contracts even though they are suspended.
Portugal's EDP CEO: Data centre boom in Iberia to be supplied by EDP
EDP, Portugal's largest utility, is stepping up to meet the demand for data centres in Iberia. The company was attracted by electricity prices that will remain low in comparison to other parts of Europe. He said that over 18 gigawatts in data centres in Portugal and Spain are in development or pipeline, "supporting the strong electricity demand in Iberia", driven by structural factors, not temporary ones.
Sources say that Trump EPA will shift at least half the waived biofuel obligation to big refiners
According to sources familiar with discussions, the Trump administration has agreed on a plan requiring 'big oil refineries' to cover?at least half the obligations for blending biofuels that were waived over the past few years under the Small Refinery Exemption Program. This decision may not be welcomed by larger oil refineries who have claimed that higher blending requirements would increase their costs.
Sources say that Trump EPA will shift at least half the waived biofuel obligation to big refiners
According to sources familiar with discussions, the Trump administration has settled on a plan requiring big oil refineries?to make up at least half?of?the biofuel blend volumes obligations that were waived in recent years under the Small Refinery Exemption Program. This decision may not be welcomed by larger oil refiners who have claimed that additional blending requirements would increase their costs.
Technip's chief claims that the floating wind market is'much smaller than expected'
Technip Energies CEO Arnaud Pietten said that the demand for floating wind turbines was much lower than it had been only three to five years ago. This reflects a broader concern across the wind industry. Ekwil is Technip and SBM Offshore's joint venture that focuses on "floating wind energy solutions". It will be there when projects are made. Pieton, in a call with reporters following the earnings announcement…
Recent developments in Asia's ethanol targets
As they try to reduce their dependence on imported fuels and meet carbon emission targets, more countries in Asia Pacific are blending ethanol with gasoline. Indonesia, Asia's biggest gasoline importer plans to impose an mandatory bioethanol content level of 10% in?gasoline by 2028, according to energy ministry official,?Tri?Winarno. Check out the latest news on the use of blended fuels containing ethanol in the region.
The impact of renewable energy on spot prices
The European spot electricity contract for Friday was cancelled on the assumption that "demand" would continue to decline while "renewable generation" is expected to increase. By 0923 GMT, the German baseload for the day ahead was down 12.9% to 66.75?euros ($78.47). The French equivalent contract fell?37.3% to 12.85 euros/MWh. LSEG data revealed that German wind generation is expected to increase by 3.5 gigawatts, to 27.3 GW.