CANADA-CRUDE-Discount on Western Canada Select narrows
On Tuesday, the discount between West Texas Intermediate and Western Canada Select futures (the North American benchmark) narrowed. WCS for Hardisty, Alberta delivery in October settled at $11.20 per barrel below the U.S. benchmark WTI according to brokerage CalRock. This compares with a $11.40 discount on Monday. * The discount on WCS was narrowest since late July. Discounts widened in August due in part to the shutdown of BP's 440,000-barrel-per-day refinery in Whiting, Indiana, which had been affected by flooding after a severe thunderstorm.
EQT Corp. signs 20-year LNG contract with Commonwealth LNG Louisiana facility
The companies announced on Monday that the U.S. energy company EQT Corp would purchase 1 million tonnes of liquefied gas per year (mtpa), from Commonwealth LNG’s planned export facility on the Gulf Coast, near Cameron, Louisiana. EQT will purchase the LNG at a fixed price indexed by Henry Hub, and market and optimize their cargos on an international level. The company stated that the additional export capacity would allow EQT's domestic direct-to customer strategy to be expanded into global energy markets. Commonwealth LNG has been in the news this week.
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. AIRBUS AIR.PA delivered 61 aircraft in August. This brings the total number of planes delivered by this year's world-leading planemaker to 434, according to industry sources on Wednesday. D'Ieteren - D'Ieteren announced its first-half result on Wednesday and confirmed its outlook for the full year. FRANCE/GOOGLE : The French data…
NextDecade's Rio Grande Train 5 Export Facility will supply EQT with LNG
The companies announced on Wednesday that U.S. energy company EQT would purchase 1.5 million tons of liquefied gas per year from NextDecade’s Rio Grande Export Facility in Texas, for a period of 20 years. NextDecade, also known by the name of a train or its fifth liquefaction plant, will provide superchilled fuel at Rio Grande from their fifth liquefaction unit. The agreement is on a free on-board basis, at a price indexes to Henry Hub. This will only be possible if NextDecade makes a positive Final Investment Decision (FID) for Train 5.
Workers strike at Fluxys Dunkirk LNG terminal in Belgium
The Dunkirk terminal of Belgian gas terminal operator Fluxys began a 3-day strike on Monday night over wages. This was part of an action in the energy and gas sector that focused on wages and pensions. Dunkirk LNG is Europe's second-largest terminal and the only one directly connected to Belgium and France, which accounts for around 20% of their annual gas consumption. A representative of the CGT, who declined to be identified, stated on Tuesday that the flow rate at the terminal had been affected. He didn't have exact figures.
Bloomberg News: EQT and NextDecade are in discussions for LNG supply
Bloomberg News reported Wednesday that EQT Corp was in discussions to purchase liquefied gas from NextDecade’s export terminal in Texas. The report was based on people who are familiar with the situation. The report stated that under the terms of a potential deal, EQT will load super-chilled gas from Rio Grande LNG's export facility. EQT and NextDecade didn't immediately respond to a request for comment. The commercial activity in the U.S. Liquefied…
Private equity deals in Japan are set to reach a record-breaking year.
Private equity funds and advisors predict that take-private deals will reach a new record in Japan this year. They expect the total to surpass the $40.3 billion in 2023. This is because companies are under pressure to increase returns for investors. Private equity was once seen as a threat by Japanese companies, who referred to it as "hagetaka", which means vultures. They are now more open to buying out companies and letting go of their once prized listed status…
WhiteWater, Partners Move Ahead with Eiger Express Pipeline Construction
WhiteWater and its partners have reached a final investment decision (FID) to move ahead with the construction of the Eiger Express Pipeline, the infrastructure firm said on Monday.Driven by a boom in U.S. liquefied natural gas exports as well as rising demand for natural gas on the back of increasing electricity consumption, gas production in the country's shale fields is expected to rise even as oil output begins to plateau.U.S.
Russian energy exports disrupted since the start of Ukraine War
One of the bargaining chips that Donald Trump will use to convince Vladimir Putin to progress towards a ceasefire agreement in Ukraine when he meets him on Friday is to reduce U.S. restrictions on Russia's exports and energy industry. Trump has also warned of tougher sanctions in the event that there is not progress. See how the sanctions have affected Russian energy exports. Before the war, Russia was Europe's largest natural gas supplier. The majority of gas was transported via four pipeline routes…
CEZ increases its 2025 outlook despite lower-than-expected Q2 net profits
CEZ, the Czech electricity producer, raised its profit forecast for the full year on Thursday. This was due to the earnings growth mainly driven by the acquisition and integration of the gas distribution network GasNet. The company's EBITDA forecast for the full year has been raised from 127-132 billion Czech crowns to 132-137. The results exceeded our initial expectations. We have therefore increased our outlook for full-year earnings," said Chief Executive Daniel Benes in a press release. CEZ's adjusted net profit dropped 47%, to 4.0 billion crowns.
Occidental Petroleum beats quarterly profit, discloses additional divestments
Occidental Petroleum on Wednesday beat Wall Street's expectations for the second quarter profit, as higher production offset lower crude oil prices. The average quarterly global production of the company was 1.4 million barrels per day (MMboepd), an increase of about 11% compared to a year ago. Exxon Mobil, Chevron and other oil giants reported last week that they had beaten their quarterly profit expectations due to higher production. This helped them to offset the lower crude price.
Pipeline operator ONEOK greenlights new Delaware Basin gas plant
Midstream company ONEOK announced on Tuesday that it had made a final decision to invest in a new natural-gas processing plant in Delaware Basin. This will expand its footprint in America's top shale gas field, as gas volumes continue to surge. The company has increased its presence in Permian Basin, which includes the Delaware Basin, through strategic moves, such as acquiring NGP XI Midstream Holdings stake in their Delaware Basin Joint Venture…
US investors target strategic Bulgarian gas storage
Five people with knowledge of the matter report that two American financiers with the support of a former campaign manager for U.S. president Donald Trump approached Bulgarian authorities about a potential investment in a government-owned underground gas storage facility stocked primarily with Russian natural gases. The group, led by Stephen P. Lynch (a Florida financier trying to purchase a gas pipe linking Russia to Germany) and Fei Wang (another U.S.-based investor)…
Construction costs at Canada's Woodfibre Liquefied Gas project are rising
Enbridge, a Canadian pipeline company, reported that the construction costs of Canada's Woodfibre Liquefied Gas project have increased, causing capital costs to increase for all parties involved. Woodfibre is a project to build a liquefied gas export facility near Squamish in British Columbia. This project is part of a series of new LNG facilities that are planned along Canada's Pacific Coast. It is expected to be completed in 2027. Initially, the capital cost of the project was estimated at US$5.1billion.
Enbridge Sees Demand for More Pipeline Capacity from Canada to US Gulf
Canadian pipeline operator Enbridge said on Friday its recent commercial process to gauge oil shippers' interest in an expansion of its Flanagan South pipeline was oversubscribed, indicating strong demand for additional oil transport capacity from Canada to the U.S. Gulf Coast.The success of the Flanagan South open season — an industry term for the binding process pipeline companies use to notify shippers of available capacity and solicit bids — brings Enbridge closer to formally sanctioning its proposed expansion of its Mainline network…
Clean Crude Oil Arrives at BTC Ceyhan After Chloride Contamination
Crude oil arriving at the BTC Ceyhan terminal in Turkey is returning to normal specifications following organic chloride contamination, BP said on Thursday, though some tanks still hold tainted oil.Organic chloride was detected in Azeri BTC crude cargoes last week, pushing price differentials to a four-year low and delaying loadings.Loadings resumed after a pause from July 20-24, with shipments now proceeding from tanks cleared of contamination…
TC Energy increases its core profit forecast for the full year on natural gas and electricity demand
TC Energy, a Canadian pipeline operator, raised its core earnings forecast for the full year adjusted on Thursday due to increased demand for natural gas and electricity and its North America operations. TC Energy announced in May that it expects a surge in capital projects to be announced later this year or in the following years, due to coal-to gas conversions and growth in data centers driving natural gas demand across North America. The company's quarterly total revenue rose by 12%…
Vopak expands biofuels storage at Malaysia terminal joint venture
Vopak, a Dutch tank storage company, announced that it will expand its capacity to store biofuels at Malaysia Pengerang terminal Two (PT2SB), as part of a strategy for the company to promote energy transition. The PT2SB joint-venture is owned by Vopak Terminal Pengerang (VTP), Dialog Equity (Two), PRPC Utilities and Facilities and Permodalan Darul Ta'zim. Vopak announced in a Wednesday statement that the capacity of its existing plant would be increased by 272,000 cubic metres.
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. The engineering company reported net income of 180 millions euros and revenue 388.7million euros for the first six months of the year. This represents a 49% growth in EBITDA when compared with H1 2024. The multinational advertising company and public relations firm reported revenue of 1,41 billion euros, and adjusted EBIT of EUR 144 millions for the first six months of the year.
Vopak increases its core profit forecast for 2025 after a solid first-half
Vopak, the Dutch tank storage company, raised its core profit forecast for 2025 on Wednesday. It cited strong results in the first half and its terminal network's resilience. The company now expects its core profit (proportional EBITDA for the year) to be between 1,17 billion euros ($1.35billion) and 1,20 billion euro, a slight increase from its previous guidance range of 1,15 billion-1.20billion euros. Vopak, a company that provides storage and handling to energy and manufacturing markets, reported first-half EBITDA at 615.3 millions euros.