Equinor and partners approve $1.3 Billion Johan Sverdrup Oilfield Expansion
Equinor, a Norwegian oil company, and its partners approved an investment of 13 billion Norwegian crowns ($1.29 billion), for the expansion at Johan Sverdrup. This is the largest oilfield in western Europe. Equinor's partner Aker BP and Equinor said separately…
The price of gas in the Netherlands and UK is falling as Norwegian supplies rise.
Dutch and British wholesale prices of gas fell on Monday morning, as the supply was strong and demand was rising due to warmer temperatures in much of Europe. However, this demand was offset by a weaker heating demand. LSEG data shows that the benchmark Dutch…
Norway Oil Drilling Workers agree wage agreement, averting a strike
Norwegian unions reached a wage agreement, which prevented a strike on floating offshore drilling rigs, which would have disrupted exploration. Unions and company representatives announced the agreement Friday evening. The unions said 438 workers from three rigs would strike if talks did not succeed…
Statkraft, Norway to reduce costs by $292 million and may layoffs
Statkraft, the Norwegian state-owned utility, announced on Wednesday that it will reduce its annual costs of around 15%, or 2.9 billion crowns (US$292 million), by 2027. Statkraft cited increased global uncertainty as well as higher expenses and lower electricity prices.
Egypt To Buy Up To 160 LNG Cargoes Through 2026
Egypt has reached agreements with several energy firms and trading houses to buy 150 to 160 cargoes of liquefied natural gas, as it ramps up purchases to meet power demands despite strained government finances, industry sources said.The world's most populous…
Prices for gas in Europe are little changed despite maintenance in Norway and higher wind forecast
Dutch and British wholesale prices of gas were not much different on Monday morning. The gas balance was tightened due to maintenance in Norway but higher wind output is forecast. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 0.12 euro to 36.15 Euro per megawatt hour at 0844 GMT.
Prices for Europe GAS remain stable with focus on Norway storage and supply
The wholesale gas prices in the Netherlands and Britain were not much different on Friday morning, as maintenance work in Norway continues to limit supplies. Also, the need to replenish European storage sites is still a major factor. LSEG data shows that the…
The price of gas in Europe is rising due to maintenance work done by the Norwegians and a lower wind forecast
The wholesale gas prices in the Netherlands and Britain rose on Thursday, supported by continued maintenance in Norway and forecasts for lower wind output. Meanwhile, the market is monitoring developments between Russia and Ukraine. LSEG data shows that the…
EU selects 13 new projects for critical materials, including Greenland
The European Union announced Wednesday 13 new raw materials projects outside of the bloc in order to increase its supply of metals, minerals and other essential elements for the EU to remain competitive in energy transition and defence and aerospace. This announcement…
EU selects 13 new projects for critical materials, including Greenland
The European Commission announced on Wednesday 13 new raw materials projects outside of the EU to increase its supply of metals, minerals and other essential elements for the bloc's competitiveness in energy transition and defence and aerospace. After China…
EU selects 13 new projects for critical materials, including Greenland
The European Commission announced on Wednesday 13 new raw materials projects outside of the EU to increase its supply of metals, minerals and other essential elements for the bloc's competitiveness in energy transition and defence and aerospace. After China…
Wind opponents sue Trump Administration to block New York wind projects
Fishing companies, as well as offshore wind opponents, filed a suit on Tuesday to challenge the Trump administration’s decision to reverse its course and allow construction on Empire Wind to resume. Empire Wind is a $5 billion project for a wind farm off New York’s coast.
EUROPE GAS - Prices hold firm on the elusive Ukraine ceasefire and muted supply
The Dutch and British wholesale prices for gas were slightly higher on Tuesday morning, as a weaker demand was countered by the ongoing conflict in Ukraine. Also, there was a reduced supply of liquefied gas from Norway and the United States. LSEG data shows…
Exxon Signs Agreement With Azeri SOCAR to Explore Oil Production
Exxon Mobil and Azeri state energy company SOCAR said on Monday they signed a deal agreeing to explore onshore oil and gas production in Azerbaijan, while BP is expected to buy into new Azeri offshore fields, according to three sources.Azerbaijan's production…
Poland's Grupa Azolty reports a net loss in Q1 amid high gas prices
The largest Polish chemical company, Grupa Azoty posted a similar net loss to that of last year, due to high natural gas costs and the competition from Russian and Belarussian fertilizer imports. The net loss for the company in the first quarter was 288.2 millions zlotys, down from 295 million in 2024.
Dutch prices rise on Norway's tariff extension and outage extension
Dutch wholesale gas prices increased on Monday morning. This was supported by a prolongation of Norwegian outages, and a delayed U.S. tariff on European goods. However, activity in Britain and America was low due to the holidays. On the Intercontinental Exchange…
EUROPE GAS-Prices edge higher amid weak demand, Norwegian maintenance
Dutch and British wholesale prices of gas rose on Monday, after a fall on Friday. Warmer temperatures reduced demand while ongoing maintenance in Norway lowered supply. LSEG data shows that the benchmark Dutch front-month contract was up 0.60 euros at 34.45 Euro per megawatt hour or $11.53/mmBtu at 0920 GMT.
Norway's oil-drilling unions are seeking wage mediation in order to avoid a strike
Employers and three unions reported that wage talks with 7,500 oil drilling employees in Norway failed on Wednesday. This could lead to a strike later this year. The Norwegian Shipowners' Association's (NSA) talks with the Safe, Styrke, and DSO unions are to resume at a future date…
Prices for European gas are down from a six-week peak as Norwegian supplies rise
The wholesale gas prices in the Netherlands and Britain fell on Thursday after reaching their highest levels in over six weeks on Tuesday, when Norwegian supplies rose again after maintenance. By 0858 GMT, the benchmark Dutch front-month contract had fallen 0.05 euros to 37.00 euros per Megawatt Hour.
Prices of gas in Europe are on the rise as temperatures increase.
The Dutch and British wholesale prices of gas were not much different on Friday morning, as the warmer temperatures reduced demand while supply from Norway increased. LSEG data shows that the benchmark Dutch front-month contract was 36.08 euros per Megawatt Hour (MWh), or $11.99/mmBtu at 0800 GMT.
