Russell: The war between Iran and the ROI is both a boon and a danger to Australia's LNG.
The U.S.-Israeli war against Iran changed the global market of?liquefied gas (LNG), giving a boost to the producers outside the Middle East. This boost will likely last for many years after the conflict ends. Australia is one of the biggest beneficiaries, having last year dropped to third place in the world for super-chilled fuel exports behind the United States of America and Qatar. The 'effective closure of the Strait of Hormuz' has stopped Qatar from exporting?LNG…
Energy officials in Thailand say that Thailand wants more LNG from Malaysia
Thai energy officials said on Wednesday that Thailand actively seeks additional 'LNG' supplies from Malaysia due to disruptions caused by the Middle East conflict. Watcharin Boonyarit said that Thailand will need to diversify its LNG supply, which is estimated to be between 5% and 10%. He was speaking on the sidelines at the Offshore Technology Conference held in Kuala Lumpur. He said that "roughly two to three LNG ships arrive…
Thailand Seeks LNG Supplies from Malaysia Due to Middle East Conflict
Thailand is actively seeking additional LNG supplies from Malaysia following disruptions caused by the ongoing Middle East conflict, Thai energy government officials said on Wednesday.Thailand would need to diversify some of its LNG supply away from the Middle East, estimated at roughly 5% to 10%, said Watcharin Boonyarit, the Energy Ministry's deputy director general of its Energy Policy and Planning Office, on the sidelines of the Offshore Technology Conference in Kuala Lumpur."Roughly two to three LNG vessels arrive from the r
Palm oil futures decline despite Indonesian biodiesel drive
Malaysian palm futures declined on Wednesday. This was a reversal of?course following four consecutive sessions of gains. The benchmark palm oil contract for June delivery at the?Bursa Derivatives exchange shed 60 ringgit or 1.24% to 4,768 Ringgit ($1,184.89). Anilkumar bagani, head of commodity research at Sunvin Group in Mumbai, said that crude palm oil futures were higher by midday following confirmation of Indonesia's biodiesel program and the upward trend in energy prices.
Gas prices in Europe fall amid hopes that the Iran war will end soon
The benchmark Dutch and British wholesale gasoline prices dropped on Wednesday morning, based on the hope that the Middle East conflict would soon be resolved following the comments of U.S. president Donald?Trump. ICE data shows that the benchmark Dutch front-month 'contract' at the TTF hub was 3.466 euros lower at 48.32 Euros per megawatt hour (MWh), which is around $16.40/mmBtu at 0755 GMT. ICE data shows that the British April contract is down 6.7 pence to 121.4 pence per therm.
Palm oil prices rise for the fifth consecutive day as biodiesel and crude oil boost palm prices
The market for Malaysian palm oils futures rose on Wednesday for the fifth consecutive session, as the market was supported by the announcement of Indonesia's rollout of B50 biodiesel and the rising prices of crude oil. By midday, the benchmark palm oil contract for?June deliveries on the Bursa Derivatives Exchange had gained 33 ringgit or 0.68% to 4,861 Ringgit ($1,204.71). Anilkumar bagani, head of commodity research at Sunvin Group in Mumbai…
India increases jet fuel and commercial LPG prices in response to the Mideast crisis driving global surge
Indian fuel retailers increased jet fuel - and commercial liquefied petrol gas (LPG), prices on Wednesday. This was in response to a sharp rise in global prices caused by the U.S./Israeli war on Iran. India, the world's second largest LPG importer is battling the worst gas crisis it has seen in decades. The government is cutting gas supplies to industries so that households are not affected by shortages. The Indian Oil Corporation…
Russell: The war between Iran and the ROI is both a boon and a danger to Australia's LNG.
The U.S.-Israeli war against Iran changed the global market of liquefied gas (LNG), giving a boost to producers outside the Middle East. This boost will likely last for many years after the conflict is over. Australia is one of the biggest beneficiaries, having slipped last year to third place in the world's exports of super-chilled gasoline behind the United States of America and Qatar. The Strait of 'Hormuz is effectively closed, and Qatar has no LNG exports.
HMH Holding raises more than $210 million through its US IPO
HMH Holding, an oil and?gas equipment manufacturer in the United States, raised more than $210 million on Tuesday after pricing its U.S. initial public offering within its range. Houston-based HMH has sold approximately 10.5 million shares for $20 each, as opposed to its advertised price range of $19 - $22 per share, giving it an estimated $862 million valuation. Experts in the industry have stated that despite increased volatility, capital markets are open, particularly for oil and?gas?issuers.
US gas prices reach $4 per gallon due to the Iran war which has wreaked havoc on energy supplies worldwide
The U.S. average gas prices rose to $4 per gallon for the first time since more than three years on Monday, according to data from the price tracking service, GasBuddy. This was the largest monthly increase in decades. Last August 2022, after the Russian invasion of Ukraine, was when we reached $4 per gallon. Analysts have called this price a psychological barrier to consumers. The price of crude oil, which is used to make gasoline…
Solar boost has seen renewables reach almost 50% of global capacity by 2025.
Data from the International Renewable Energy Agency, which was shared with us exclusively on Tuesday, showed that renewable power accounted for almost half of 'world's electric capacity in 2013. This is due to a record-breaking increase in solar installations. Some industry leaders have called for increased investment in fossil fuels as the Middle East conflict has resulted in record monthly gains. However, analysts claim that countries with greater renewable energy capacity have been protected from the market shock.
Golden Pass, a joint venture between ExxonMobil and QatarEnergy, produces the first LNG in a new Texas facility
Golden Pass 'LNG, a joint-venture between QatarEnergy and Exxon Mobil has produced its first liquefied gas at its Texas facility, the company announced on Monday. This is a significant step towards bringing online one of the biggest U.S. Export projects. The launch comes as global gas supplies are tightening after the U.S.-Israel-Iran war pushed up energy prices and caused disruptions in Qatar's production, which is one of the largest LNG suppliers.
Shell warns Australia about taxing LNG windfall profit
Shell has warned Australia not to introduce a windfall charge on gas exporters. It said that such a tax would 'deter investment' and 'undermine energy security, as LNG prices are surging following the disruption of global supplies due to the Iran War. The conflict in the Middle East has caused the supply of LNG to drop, and Australia is now the second largest LNG supplier. Its export revenues are expected to increase due to the lower supply. Canberra is said to be weighing up options to capitalize on the higher prices.
Egypt and Cyprus Sign Framework Agreement for Cooperation on Gas
On Monday, Egypt and Cyprus signed a framework for?cooperation in gas during the Egypt 2026?Energy?Show. A spokesperson for the Cypriot Presidency said that the nonbinding agreement would be the basis on which the two countries could negotiate further agreements to exploit Cyprus' reserves. A Cypriot official said that the agreement would allow Egypt and Egypt's state-owned firms to purchase natural gas from Cyprus's offshore Kronos and Aphrodite fields.
Minister says India is boosting its renewable energy efforts amid disruptions in gas supplies
India's junior energy minister stated that the U.S. and Israel?war on Iran? has led to a "gas shortage". Gas accounts for just 2% of India’s total electricity generation. However, during heatwaves or peak demand periods the country consumes about 8 gigawatts (GW) of power from gas. The Middle East Crisis has caused a volatility in the price and availability of natural gas. The generators are looking for alternative sources, Shripad Naik, the junior power minister of India said.
Oil rally fails to boost drilling as services firms are squeezed
Oilfield services firms around the world are bracing themselves for a 'hit to their earnings, as the Iran War disrupts energy infrastructure in the Middle East. Producers will hold off on new drilling until the higher oil prices have been proven durable. Brent benchmark prices are up 53% from February 27, the day before U.S. and Israel began their strikes against Iran. This makes oil and gas projects much more profitable and increases demand for crews and rigs.
Palm oil rises in third session due to firm Chicago crude, soyoil and exports
Malaysian palm oil futures rose on Monday for the third consecutive'session,' boosted by higher Chicago soyoil & crude oil prices. Meanwhile, robust export figures continued to support a positive market sentiment. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery was up 36 Ringgit or 0.78% at 4,667 Ringgit ($1,160.95). David Ng is a proprietary 'trader' at Kuala Lumpur based trading firm Iceberg X Sdn Bhd. The recent strong export performance also lifted the sentiment higher.
Prime Minister says that the economics of New Zealand’s LNG terminal must be solid to give it approval.
New Zealand's plans to build a terminal for liquefied gas imports are in doubt. Prime Minister Christopher Luxon said on Monday that the government would only approve the project "if the business case was strong". The?government?selected contractors in February to build the facility at Taranaki on the North Island of the country. The terminal was to be ready for LNG by 2027 or 2028. The project was announced by the government in 2025 as a way to improve energy security for the country and reduce costs.
Chevron estimates repairs at Wheatstone gas plant will take weeks
The company stated on Sunday that it is likely to take several weeks for the Wheatstone Liquefied Natural Gas facility in Western Australia to fully resume production as they repair damage caused by the cyclone last week. The Australian LNG supply was disrupted by Cyclone Narelle, a disruption of more than 30,000,000 metric tons per annum. Saul Kavonic, MST Marquee analyst, said on Friday that the Middle East conflict and the cyclone Narelle have combined to disrupt more than a quarter of global LNG supply.
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. Narelle, which has been sweeping across Australia's Queensland and Northern Territory state since it made landfall on March 20 as a Category 4 tropical cyclone, hit Western Australia on Friday, affecting LNG plant run by Woodside and Chevron.