Egypt boosts gas production with two new West Delta Wells
Egypt's Petroleum Ministry announced on Friday that the two deepwater West Delta wells have been brought online. This will add about 60 million cubic foot per day (mcfd), of natural gas, to Egypt's production. Egypt is looking to increase gas production to meet the domestic demand after increasing reliance on imports. The West Delta's new output includes 50 mcfd of gas from the Sapphire South Central DP, the third well drilled as part of phase 11 West Delta Deep Marine Development with Shell investment, and 10 mcfd produced by the Scarab D4 after it was brought back online.
Russian Oil Vessels Forced to Divert From India Under US Sanctions
At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new U.S. sanctions, trade sources said, and LSEG trade flows showed.The U.S. Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities, and ships, some of which are involved in transporting Russian oil.U.S. President Donald Trump has urged countries to halt purchases of oil from Moscow, threatening 100% tariffs unless Russia agrees to a significant peace deal with Ukraine.Three…
Equinor writes down $955 million in US offshore wind costs, blaming Trump
Equinor, of Norway, booked a $955-million impairment on a project for offshore wind in the United States on Wednesday. The company cited U.S. tariffs as well as the uncertain regulatory environment in the United States under President Donald Trump. On Trump's first official day in office, in January, he cancelled all offshore wind leases. This dashed the hopes that the United States could revive the sector. In April, Interior secretary Doug Burgum closed down Equinor Empire Wind in New York State. Later, he lifted the stop-work orders on the project. Equinor has suffered a great deal of damage.
Singapore Marine Bunker Sales Dip in First Half of 2025
Sales of marine bunker fuel in Singapore dipped slightly in the first half of 2025, official data showed on Monday, as shipping uncertainties in the wake of global tariffs capped demand, particularly in the first quarter.Total sales at the world's largest refuelling hub for ships stood at 26.98 million metric tons in January to June this year, dipping 1% from 27.19 million tons in the same period last year, data from Singapore's Maritime and Port Authority showed. Conventional fuel sales, including residual fuel oils and marine gasoils, totalled 25.96 million tons in the first half, down 2.7% from last year.
Shell receives permission to drill on the west coast of South Africa
Shell announced on Friday that it has received environmental approval to drill five deepwater wells near the west coast of South Africa. Oil majors applied for authorization last year, and plan to drill appraisal or exploration wells at depths between 2,500 metres (8.200 ft), and 3,200 metres (10.500 ft), in the Northern Cape Ultra Deep Block of the Orange Basin. TotalEnergies and other oil companies are planning to drill near the west coast of South Africa, where the Orange Basin extends down into the waters. They hope to replicate the significant discoveries that were made in Namibia.
Tighter Emissions Regulations, Slower Economy to Soften Marine Fuel Demand
Stricter environmental regulations and slower global economic growth will soften marine fuel demand in the coming years, the International Energy Agency said in its annual report on Tuesday.Marine fuel sales jumped last year due to Red Sea disruptions that made shipping companies take longer routes.But demand for those fuels, also called bunkers, could flatline at around 5 million barrels per day (bpd) in 2024-2030, because of weak underlying shipping growth and rising costs from tougher maritime environmental standards, the IEA said.Last April…
Shell approves Aphrodite offshore gas project
Shell Energy said that it has taken a final investment decision in its Aphrodite Gas Project offshore Trinidad and Tobago. In a press release, the company said that it expects to start producing gas in 2027. It will reach a maximum production of 18,400 barrels oil equivalent per day. Shell has a 45% stake in Trinidad's Atlantic LNG Plant, which is capable of producing 12 million metric tonnes per annum of super-cooled gas. However, the plant has suffered from a shortage of natural gas. Shell is not able to obtain its full share from the plant of more than 5.5 MTPA LNG.
Tokio Marine launches green units, aiming for $1 billion in revenue by 2030
Tokio Marine, a Japanese insurer, has created a unit that will insure low-carbon activities such as shipping, green hydrogen and cement. Its chair said the company aims to generate $1 billion by the end the decade. Fraser McLachlan, Fraser McLachlan's boss, said that the new Tokio GX unit (TMGX) will offer advisory and risk-transfer services to companies in a variety of sectors who are looking to decarbonise. It will also build on existing work by its GCube Renewable Energy team. TMGX is offering up to $500,000,000 in coverage on any one risk. It aims for a minimum of 10% of the global premium market by 2030, which is estimated at $10 billion.
US finds endangered Gulf of Mexico Whale threatened by oil and Gas Vessel Strikes
The Trump administration released a long-awaited assessment of environmental impact on Tuesday. It found that vessel strikes relating to oil and natural gas drilling in Gulf of Mexico will likely threaten the existence of endangered Rice's Whale. The biological opinion is an analysis that determines how to protect endangered marine species from oil and gas operations in the Gulf of America, renamed by President Donald Trump. According to the analysis, there are 51 Rice's Whales in the Gulf. This sets speed limits and requires vessels to keep a minimum 500-meter (547 yard) distance from them if they see one.
Equinor could cancel New York offshore project due to Trump's order
Developer of major U.S. off-shore wind project warns that it will cancel Empire Wind facility near the coast of New York, if they cannot resolve a stop-work order from the Trump administration issued a month ago. Molly Morris is the president of Equinor's U.S. renewable energy division. She said that the company spends $50 million per week to keep this project alive. Morris stated in an interview that the situation was no longer sustainable. Interior Secretary Doug Burgum told Equinor on April 17 to stop construction of the project…
Shell completes survey of Venezuelan gas field as winding down of license approaches
Shell, the oil and gas company, plans to finish a marine survey of the offshore Dragon gas field in Venezuela before the May deadline set by the United States to close all energy licenses in the country. According to LSEG vessel tracking data, the Colombian-flagged Dona Jose II survey vessel arrived in Venezuela sanctioned by the U.S. this month to collect data for Shell and Trinidad’s National Gas Company. Two sources said that the exploration work will be completed within the next few weeks and allow the company determine drilling locations as well as pipeline design…
The US has ordered the construction of Equinor New York Offshore Wind Project to be halted
U.S. Interior Secretary Doug Burgum announced on Wednesday that he had instructed his agency to stop construction of Equinor's Empire Wind off-shore wind project near the coast of New York. Burgum wrote in a blog post on X that information indicated the Biden administration rushed to approve the project without adequate environmental analysis. Burgum stated that he had spoken with Commerce Secretary Howard Lutnick. The National Marine Fisheries Service is housed in Commerce, and it's responsible for approving offshore wind installations.
US proposed looser interpretation of the law protecting threatened species
The Trump administration proposed on Wednesday a major shift in how threatened species are taken into account when agency actions are made. This was done by removing the regulatory language which aims to prevent habitat degradation. This move aligned itself with the pledge of President Donald Trump to reduce what he calls burdensome federal regulations on businesses. When deciding whether or not to issue permits for oil and natural gas, mining, transmission of electric power and other operations, agencies must consider the Endangered Species act.
DUH: Germany's Mukran Liquefied Natural Gas terminal is at 5% utilisation during Q1
An analysis released on Monday showed that the German LNG terminal at the Baltic Sea port Mukran was operating at only 5% of its capacity in the first three months of 2025. This is despite local opposition to the project and criticism of the environmental impact. Germany expanded its natural-gas import options in order to replace Russian pipeline supplies and deployed floating storage units and regasification (FSRUs), causing concerns about overcapacity. According to a German Environmental Aid (DUH), analysis of Gas Infrastructure Europe data, the Mukran terminal's use dropped from 14% a quarter earlier to 5% during the first three months of this year.
DUH: Germany's Mukran Liquefied Natural Gas terminal is at 5% utilisation during Q1
An analysis released on Monday showed that the German LNG terminal at the Baltic Sea port Mukran was operating at only 5% of its capacity in the first three months of 2025. This is despite the ongoing opposition and criticism from locals over the environmental impact of the facility and its excess capacity. Germany is expanding its natural-gas import options in order to replace Russian pipeline supplies. It has also deployed floating storage units and regasification (FSRUs), which has raised concerns about overcapacity. According to a German Environmental Aid (DUH)…
Petrobras has completed the animal care center needed for offshore license
Petrobras, Brazil's state-run oil firm, has finished the work required to get an environmental permit in order to drill offshore. The company announced this on Saturday. The Animal Care Center in Oiapoque in Amapa State is designed to help animals in case of an oil spill. Ibama, the Brazilian environmental agency, made this demand in response to Petrobras’ proposal to drill offshore near Foz do Amazonas. Amapa has issued the veterinary centre with an operating license, but Ibama must still approve it. Petrobras announced in a press release that it had informed the agency of the availability of the center for inspection beginning Monday.
Israeli Firm Gets Final Permit for US Wave Energy Demo
Eco Wave Power, an onshore wave energy technology company, has received a final permit for the construction and demonstration of its wave energy technology in San Pedro, California.The Revocable Permit 25-05 by the Port of Los Angeles was executed on behalf of the Executive Director, Eugene D. Seroka on March 27, 2025.This permit is the final approval required for Eco Wave Power to start construction of its pilot project, following it receiving a federal Nationwide Permit (NWP) 52 for Water-Based Renewable Energy Generation Pilot Projects granted by the U.S.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Alstom, a French train manufacturer, announced on Tuesday that it had received 2.4 million euro ($1.08m) in public funding as part of the France 2030 plan to speed up the development of an intelligent train safety platform. It also announced a 125-million-euro order to supply 10 more regio2n train sets to the Auvergne/Rhone Alpes region. ARGAN: French firm Argan announced on Tuesday a rental income of 52.9 million euro in the first quarter. It also confirmed its outlook for 2025.
Sources say that the White House is considering an executive order to speed up deep-sea mines.
Two sources who are directly involved in the White House's deliberations say that they are considering an executive order which would expedite permits for deep sea mining in international waters. This would allow mining companies to bypass a United Nations review process. The order, if signed, would be the latest effort by U.S. president Donald Trump to tap into international deposits of nickel and copper, and other essential minerals that are widely used across the economy, after recent efforts made in Greenland, and Ukraine. Trump also used emergency powers earlier this month to boost domestic mineral production.
Varo purchases Swedish refiner Preem as part of a bet on biofuels
Varo Energy, which is backed by Carlyle Group, the largest private equity firm in the world, and Vitol, one of the biggest trading houses in history, announced on Monday that it had bought Swedish refiner Preem. The company said this was a bet on a growing demand for biofuels. Varo has already acquired stakes in oil refining companies in Germany and Switzerland, and is now expanding its sustainable fuels and trading. It has plans to invest $3.5 billion in sustainable energy between 2022-2026. Varo stated that the combined company will supply around 10% to Europe's road fuels, marine fuels, and be Europe’s second largest renewable fuel producer.
