Engie CEO: We are well-positioned to bid on gas plant tenders for Germany, Netherlands and Spain
Catherine MacGregor, chief executive of French 'power utility Engie, said that the company is in a good position to bid for newly announced tenders relating to 'power generation, including gas plants, in Germany, Netherlands, and Spain. These tenders are called capacity remuneration mechanism and pay producers for providing backup power to the grid when it is needed, like during peak demand and when solar and wind farms aren't operating. Gas plants fill the gap more and more as countries close nuclear and coal plants.
Venezuela's rusted and ugly refineries will be difficult to restore
The Paraguana refinery in?Western Venezuela was once a symbol of the oil wealth of Venezuela and its ambition to convert vast reserves of crude oil into fuels and export revenues. Today, the 955,000-barrel-per-day complex in Falcon state runs at a ?fraction of capacity, a decline decades in the making and unrelated to the strong earthquakes that struck Venezuela last month. Interviews with 'four dozen workers, contractors and residents were conducted in the months leading up to the earthquakes.
US Russia sanctions bill reduces tariffs on China, India
The U.S. Senate on Tuesday released an updated version of the Russia sanctions legislation, championed?by the late Senator Lindsey Graham. This revised bill eases the original proposal?s?tariff?threat to China, India, and other importers?of Russian oil and gas. The bill, which is supported by both Republican senators and Democratic Senators, aims to impose sanctions against Russian officials, and use tariffs as a way to pressure China and India into reducing their dependency on Russia as a supplier of energy.
US Russia sanctions bill reduces tariffs on China, India
The Republican and Democratic U.S. Senators unveiled a revised version of the 'Russian sanctions legislation' championed by late Senator Lindsey Graham. They sought to impose sanctions on Russian officials, and to use tariffs to pressurize China and India into reducing their dependency on Russian oil and natural gas. Graham, who passed away suddenly on Saturday had announced just one day before that he and Republican?President…
The IEA warns that EU's methane laws could restrict the bloc's oil supplies options
The International Energy Agency warned that the EU's rules on methane could restrict the oil supply available to the bloc. Member states are preparing to discuss the calls of Germany and other countries to delay these measures. The EU has passed legislation to reduce emissions of methane, a powerful greenhouse gas. In January 2027, imports of oil and gas will have to comply with emission monitoring requirements that are equivalent to the EU standard or OGMP 2.0.
Five charts to summarize the financial week: KVol, electric shocks and ROI-Crude shrug
Open Interest (ROI), every Friday, distills the previous five days' financial activity into five charts that highlight the "major trends" and "surprises", as well as the "overlooked moves" and the "surprises". 1. CRUDE SHRUGS RON BOUSSO ROI - Energy Columnist: Oil Prices jumped this past week following the latest and most serious flare-ups in the Middle East, after Iranian forces 'hit' tankers crossing Strait of Hormuz. This prompted a tit-fortat exchange with the U.S.
Report: US wind and solar investments could be threatened by $121 billion of stalled permits.
A report released on Monday found that Trump administration policies 'that have stalled permits of renewable energy projects' are putting $121 billion in investment at risk, and slowing the development of 'wind, solar, and storage.capacity required to meet increasing?power demand. Wood Mackenzie's findings highlighted the tension between President Donald Trump’s desire to fast-track energy infrastructure in order to support artificial intelligence and his opposition to renewable energies.
Report: US wind and solar investments could be threatened by $121 billion in stalled permits
A report released on Monday found that Trump administration policies have slowed permits for renewable energy project, putting $121 billion in investment at risk. Wood Mackenzie, a research firm in energy, found that President Donald Trump was torn between his desire to accelerate energy infrastructure for artificial intelligence and his opposition to the renewable energy. The report stated that it examined early-stage projects worth $121 billion which?faced investment risks due delays.
Germany warns that the EU methane law could disrupt jet fuel supply
Germany, Europe's largest gas market, warned that EU plans to regulate methane emissions for oil and gas imports could disrupt jet fuel supply, already under pressure from the Iran War's energy shock. The?European?Union?will require monitoring and verifying methane emission for fuel deliveries into the bloc. The regulations aim to reduce leaks of this powerful greenhouse gas, but they have been met with strong opposition by industry and suppliers. This includes the U.S.
The White House of Trump asks Congress for approval to sell E15 year-round
The White House of President Donald Trump asked Congress to pass a bill on Wednesday allowing gasoline with higher ethanol levels all year round. This would revive a long-sought goal of the biofuels sector. Trump has supported year-round gasoline sales that are blended with 15% of ethanol for some time, but this is the first official push from his White House to implement the policy. It also signals a willingness by the White House to take on U.S.
Document shows EU countries have scaled back their plan to finance power grids
A document from an internal negotiation revealed that governments 'have reduced the European Union’s proposal to spend national money on 'the bloc's' energy infrastructure' after Sweden threatened to limit power exports due to the plan. This dispute is over a proposed EU legislation to raise money for large energy infrastructure projects like interconnectors. These are necessary to integrate renewable energy sources into the network, and to meet increasing power demand due to data centres and other sources.
The US Senate is set to vote on the nationwide expansion of E15 gas sales
Supporters of a long-stalled effort to expand nationwide the sale of higher-ethanol E15 gas are following an uphill campaign to get the measure passed through a divided Senate. This is the last major hurdle before President Donald Trump signs the policy. According to interviews with industry representatives, their plan is to attach the provision into a larger, must-pass legislation, and to ensure that it contains enough concessions for the refining sector to prevent them from blocking the bill.
The European Commission promises tougher actions on trade with China
The EU's relationship with China in terms of trade and investment is "not sustainable", according to the European Commission, which pledged a stronger response. Commissioners were discussing how best to protect Europe's industries against surging Chinese imports. The EU's leaders will meet on June 18-19 to discuss ideas. Possible proposals include forcing EU companies to diversify their supply chains, or introducing new trading mechanisms to limit China's access the EU's market for chemicals…
US gas exporters request to delay EU methane regulations until 2028
A top official from the 'national suppliers' group said that the U.S. gas industry is asking Europe to delay enforcement of the new law on methane emissions until 2028. He warned the regulatory risk was already holding back long-term agreements with European customers. Charlie Riedl, Senior Vice President of Natural Gas Supply Association in Amsterdam, said that U.S. Exporters want more time and clarifications about the new methane laws. He said U.S.
Venezuelan Oil Minister tells Houston Conference that country is open to dispute resolution
The Venezuelan Oil Minister Paula Henao announced on Tuesday that the new framework for hydrocarbons in the country is open to?dispute settlement outside of the country. This was a major wish expressed by many foreign oil firms before they begin operations in the South American nation. She said this at a conference outside Houston. "We hope it never comes to that but if it does, we will resolve any issues through this channel." Her remarks at the event hosted by the American Association of Petroleum Geologists…
Independent body warns that Germany will miss its 2030 climate targets
An independent advisory body stated on 'Monday that Germany will likely miss its 2030 climate goals and emit more carbon dioxide than previously thought. This contradicts the findings of the government's principal climate authority. The government of Chancellor Friedrich?Merz presented a climate plan to the public in March, backed up by 9 billion euros (8 billion dollars) for measures like expanding wind power or boosting electric vehicle sales.
US House passes bill to allow year-round sale of E15 fuel
The U.S. House of Representatives passed legislation Wednesday that would allow nationwide sales of gasoline containing 15% alcohol throughout the year. This is a big win for biofuel producers,?farming groups and refiners alike. H.R. 1346, or the Nationwide Consumer and Fuel Retailer Choice Act, was approved by a vote of 218 to 203. It would allow fuel retailers to offer E15?year-round. This would remove seasonal restrictions linked to smog concerns. The H.R.
Bolivia announces energy sector reforms in order to attract foreign investment and end state control
Bolivia's government announced on Thursday a proposal for a renewable energy and electricity law that aims to 'attract international investment' and reduce 'the 'country's dependency on natural gas. This could be the end of years of state control in this sector. Hydrocarbons Minister Marcelo Blanco announced at a press event that the law would allow for private companies to be involved in energy production, export, and import, thus ending ENDE's monopoly.
EU considering suspending penalties against oil and gas companies that violate methane laws
After?pressure by industry and the United States government, the European Commission has developed plans to let oil and gas firms avoid penalties for 'breaching EU methane emission laws. This follows a call from?oil-and-gas industry groups to suspend the law. They warned that it could disrupt EU fuel exports once tougher provisions come into effect in 2027. The U.S. Government has also requested that the EU exempt U.S. Oil and Gas from the rule.
Venezuela delays new oil contracts as investors wait
Two sources said that energy companies evaluating whether or not to invest in Venezuela were waiting for the OPEC nation’s oil ministry to release specific contract models which would provide terms and conditions to continue, expand,or start businesses in Venezuela. The ministry announced that it would be releasing new models of joint ventures and production contracts in the near future, and working on separate tax legislation.
