LAUDES-U.S. cities drive energy transition despite Trump resistance
The U.S. By Carey L. Mayors report that many cities still have a long way to go in improving building efficiency, electrifying cars and neighborhoods, training employees for new energy jobs, and designing for tomorrow. Keith Wilson, the mayor of Oregon's biggest city, said that cities like Portland don't wait for federal permission before taking action on climate change.
Oil Prices Slip, Pressured Over Global Supply Glut
Oil prices fell by nearly 2% on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.Brent crude futures were down $1.06, or 1.7%, at $60.23 a barrel as of 1312 GMT, while U.S. West Texas Intermediate futures fell $1.03, or 1.8%, to $56.51.Oil traders' concerns have shifted from under-supply to over-supply…
North American LNG Exporters Look to Double Capacity by 2029
Liquefied natural gas exporters in the U.S. have announced plans to more than double U.S. liquefaction capacity, adding an estimated 13.9 billion cubic feet per day (Bcf/d) by 2029, the U.S. Energy Information Administration said on Thursday.The EIA cited its Liquefaction Capacity File and trade press reports for the forecast, and added that the U.S.
Palm exports rise on the back of a strong three-session decline
The Malaysian palm futures market reversed the losses it had suffered for three sessions in a row on Wednesday as export data helped to offset concerns about high inventories and rising U.S. China trade tensions. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange climbed 13 ringgit or 0.29% to 4,474 Ringgit ($1,057.93), a metric tonne, at the close.
Palm prices slip on uncertainty about demand and high stocks
Malaysian palm futures declined for a forth consecutive session on Wednesday, due to concerns about subdued consumer demand and large inventories. Meanwhile, mounting U.S. - China trade tensions dampened sentiment. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for January delivery had fallen 8 ringgit or 0.18% to 4,488 Ringgit ($1,062.75) per metric ton.
Oil Prices Settle 1.5% Lower as US-China Trade Tensions Persist
Oil prices fell on Tuesday, settling 1.5% lower as the International Energy Agency warned of a huge supply glut in 2026, and as trade tensions persisted between the U.S. and China, the world's two biggest economies.Brent crude futures fell 93 cents, or 1.5%, to settle at $62.39 a barrel. U.S. West Texas Intermediate crude was down 1.3%, or 79 cents, at $58.70.
Oil bosses are expecting the market surplus to diminish over time
Executives from oil majors, trading houses and oil companies said that the global oil market will tighten up in the medium-to-long term after recovering from its short-term weakness. Oil prices have been impacted by the rising output of OPEC+ – which is a grouping of countries that are members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies – as well as other producers.
VEGOILS - Palm extends losses to third session due to profit-taking
The Malaysian palm futures market closed lower on Tuesday for the third session in a row, due to profit-taking, a weakening of sentiment, and traders waiting for export data. The benchmark palm-oil contract for December delivery at Bursa Derivatives Exchange fell 39 ringgit or 0.87% to 4,460 Ringgit ($1,054.87) per metric ton. A Kuala Lumpur based trader stated that the market was lower due to profit-taking…
French contract for spot work is lifted by lower nuclear supply
The French spot electricity price increased on Tuesday, as the nuclear power supply dropped in France. In Germany, wind and solar energy are expected to offset an increase in demand. LSEG data show that the French contract for day-ahead electricity was up 7.5% at 93.50 Euros ($109.13), while the German contract, which was equivalent, was not traded with a bid price of 129.50 Euros/MWh.
IEA reduces renewables forecast as US policy changes and China auction reforms weigh
The International Energy Agency cut its forecast of renewable power growth in 2030 by 900 Gigawatts compared to last year, citing weaker prospects for the United States and China. Solar power, however, continues to lead record additions. The data shows that the global renewable power capacity will now rise by 4,600GW by 2030, down from the forecast of 5,500GW in 2024. Solar accounts for about 80%. The IEA's U.S.
China builds oil reserves in response to a stockpiling campaign
China has been building oil reserves at an accelerated pace as part of its campaign to increase crude stocks. This urgency increased after Russia's invasion of Ukraine disrupted global energy flows. It also accelerated in this year according to traders, industry experts and public data. According to sources such as domestic news, government reports…
Solar power is a ray hope for the Middle East's most electrified nation
Yemen's largest solar plant helps to relieve electricity shortages, especially in Aden. Residents and businesses who suffer from the heat of summer are also benefitted. The Aden Solar Power Plant, funded by the United Arab Emirates (UAE) and operating since July 2024 marks a major shift in the Middle East towards renewable energy. According to the International Energy Agency, Aden is the least electrified country.
Oil Prices Rise by Nearly 2% After Drone Strike on Russian Terminal
Oil prices rose by nearly 2% on Friday after a Ukrainian drone attack on a Russian port suspended loadings, outweighing pressure from oversupply concerns and weaker U.S. demand risks.The drone attack on Russia's northwestern port of Primorsk - one of the country's largest oil and fuel export terminals - led to a suspension of oil loading operations overnight…
The IEA reports that the decline rates of global oil and gas fields are increasing.
International Energy Agency reported on Tuesday that the natural rate of decline for oil and gas production is increasing, due to a greater reliance on deep-ocean and shale resources. The International Energy Agency said on Tuesday that companies would need to increase their investment pace to maintain the same output. In a press release, the IEA…
IEA: Global oil and gas production is declining rapidly, IEA reports
International Energy Agency (IEA) said Tuesday that the decline in oil and gas production from mature fields around the world is increasing due to a greater reliance on deep-ocean and shale resources. This means companies will need to invest even more to maintain output. Donald Trump's administration has criticized the IEA for its recent shift in focus to clean energy policy.
TASS reports that Russia's top oil executive said Asian oil demand is still growing.
Alexander Dyukov of Russian oil giant Gazprom said that the demand for crude oil in Asia continues to increase, while China, among other countries, has been replenishing its crude stocks, according to TASS. OPEC+ agreed this month to increase oil production in October, as Saudi Arabia tries to regain its market share. However, the group will slow…
Bezos' renewables alliance targets $7.5 billion for developing countries
Executives from an alliance installing renewable energy in developing nations want to invest $7.5 billion over its next five-year plans. They are also looking for more philanthropic partnerships as richer countries cut their government aid. The Global Energy Alliance for People and Planet was launched in 2021 at the global climate talks. It has assisted more than 30 countries in improving electricity grids…
The IEA reports that Russia's oil export revenues fell in August.
The International Energy Agency reported on Thursday that Russia's revenues from crude oil and petroleum products fell in August, to the lowest level since the beginning of the conflict with Ukraine. The Russian energy industry is being challenged by drone attacks on oil refineries, export pipelines and Western sanctions. The IEA reported that revenues…
The IEA reports that Russia's oil export revenues fell in August.
The International Energy Agency reported on Thursday that Russia's revenues from crude oil and petroleum products fell in August, to the lowest level since the beginning of the conflict with Ukraine. The Russian energy industry is being challenged by drone attacks on oil refineries, export pipelines and Western sanctions. The IEA reported that revenues…
IEA reduces 2030 low-emission hydrogen production forecast by almost a quarter
The International Energy Agency reported on Friday that a wave of cancellations as well as cost pressures and policy uncertainties have reduced the projected 2030 development by almost a quarter. The IEA's Global Hydrogen Review states that the IEA expects to produce 37 million metric tonnes of low-carbon fuel per year by 2030. This is down from 49 millions a year ago as developers have shelved plans or delayed them.