EBRD lends Moldova 400 million euros for energy security
The European Bank for Reconstruction and Development announced on Tuesday a 400 million euro loan ($468 million) to the state-owned energy company Energocom of Moldova for purchasing gas and electricity on European markets in order to increase energy security for the country. This follows the decision of Russian energy giant Gazprom, which halted gas deliveries to Moldova in this year due to unpaid debt.
Britain launches a strategy to expand offshore wind and create jobs
The government announced on Friday that Britain has launched its first onshore wind policy, which aims to increase renewable energy capacity and create jobs in this sector. Britain aims to decarbonise the electricity sector in its country by 2030, as part of its efforts to achieve its climate goals and boost energy security. It also…
Germany fills up all LNG regasification slots in Wilhelmshaven terminals
The state-owned German Energy Terminal GmbH (DET), said that it has successfully allocated all regasification slots available for its Wilhelmshaven LNG terminals 1 and 2. This is a further step in enhancing energy security for Germany, and Europe. DET is responsible to market and operate floating terminals which turn liquefied gas back into natural gas and feed them into Germany's Gas Network.
India to increase energy security by adding new strategic reserves of oil
The head of the company responsible for strategic reserves, who spoke on Wednesday, said that India is looking at building three new strategic oil reserve to increase its emergency stockpile as well as strengthen energy security. India is the third largest oil consumer and importer in the world. It imports over 80% of the oil it consumes…
Senate bill accelerates the end of wind and solar tax credits
Renewable energy advocates said that the latest version of the Senate’s massive budget bill, which the Senate will vote on as early as Saturday, deals a death blow to the use tax credits established since 2005 to encourage more wind and solar power. It would also impose a brand new tax for the first-time on these projects. The Senate's…
Brazil increases biofuels, sees self-sufficiency in gasoline
The Brazilian National Energy Policy Council approved an increase in the amount of biofuels blended into fossil fuels on Wednesday. This move was also hailed by renewable energy lobbyists who had earlier claimed that the blends wouldn't be changed this coming year. Pietro Mendes from the Energy Ministry's Oil and Gas Department announced the changes during a press conference.
PTT Thailand to purchase 2 MTPA LNG from Glenfarne Alaska LNG for 20 years
Glenfarne announced late Monday that the Thai state-owned PTT Group, which is an oil and gas company, had signed an agreement with Glenfarne to purchase 2 million metric tonnes of liquefied gas annually from its Alaska LNG project for a period of 20 years. PTT stated that it would continue to study the Alaska LNG Project in order to expand its LNG businesses and improve Thai energy security.
Equinor Gwynt Glas wins UK floating offshore wind leases
The Crown Estate announced on Thursday that Equnior, a joint-venture between EDF Renewables UK, and ESB has won seabed leases for the construction of floating wind farms off the coasts of Wales and South West England. The UK aims to decarbonise the electricity sector by 2030 in order to reduce its reliance upon fossil fuels, and to drive down costs.
Energy companies race to Southeast Asia for gas to meet AI power demand
Energy companies are investing in gas exploration and production to meet the rising demand for power from a growing population and the proliferation of data centers in this region. As countries pursue different paths of energy transition, European majors are pivoting back to conventional fuels that are more profitable. Southeast Asian…
Suppliers threaten shutdown in July due to Pemex payment problems
The Mexican association of major oil service companies has warned it is experiencing an "unprecedented" crisis due to the non-payment by the state-owned Pemex. Pemex is the most indebted oil company in the world. The association, in a letter to President Claudia Sheinbaum that was released on Monday afternoon warned that some of these companies could be forced to cease operations as soon as July.
Oil industry gathering in Malaysia is shadowed by conflict in Middle East
Energy executives from around the world gathered on Monday in Malaysia's capital for an industry gathering. They were concerned about the dramatic escalation of the conflict between Israel & Iran which has fueled fears that the conflict could spread and disrupt the supply. According to the head of Saudi Arabia's state oil giant Aramco, conflict highlights the importance of oil.
Saudi Aramco CEO: Oil and gas is important during times of conflict
Saudi Aramco's head told a Monday energy conference that oil and gas are important in times of conflict, as we can see right now. Aramco CEO Amin Nasser gave his speech at the Energy Asia Conference held in Kuala Lumpur via video link. The oil prices rose last week, after Israel, claiming to have launched attacks against Iran on Friday in order to stop Tehran from building atomic weapons…
Taiyo Oil Buys First Russian Crude In More Than Two Years
Japanese refinery Taiyo Oil has bought its first Sakhalin Blend crude from Russia in more than two years at the Japanese government's request, it said on Tuesday, to help ensure the stability of a plant also supplying Japan with liquefied natural gas.Japan last imported Russian crude in February 2023, trade data showed, after Tokyo…
Senior Taiwan official visits new Alaska LNG site
A senior Taiwanese government official revealed on Saturday that he visited this week the site of an enormous new LNG project in Alaska, which the Trump administration is pushing to its Asian allies as a possible supply option. Energy developer Glenfarne said that on Tuesday, 50 companies had expressed formal interest in contracts valued at more than $115 Billion from its Alaska LNG Project.
Nuclear companies and others ask Senate to maintain energy tax credits
Energy companies that represent technologies that provide stable and consistent baseload power urged U.S. Senate leaders on Tuesday to preserve the clean energy tax credit that was effectively eliminated by a Republican Bill passed last month by Congress. Republicans, including U.S. president Donald Trump, have criticised clean energy…
Australia approves Woodside's North West Shelf LNG Plant to operate until 2070
Australia approved Woodside Energy’s request on Wednesday to extend the lifespan of its North West Shelf Gas Plant until 2070. This follows a six-year process that was plagued by delays, complaints and criticism from environmental groups. North West Shelf, located in Western Australia on the Burrup Peninsula, is Australia's largest and oldest liquefied gas plant.
The US claims that there are significant oil and gas reserves in Wyoming.
The U.S. Interior Department announced on Wednesday that a new federal assessment identified significant oil and gas reserves in Wyoming, Utah, and Colorado which are technically recoverable but have not yet been discovered. Interior Department announced on Wednesday. The U.S. Geological Survey's Mowry Composite Total Petroleum System…
Vopak is confident that it can advance Australia LNG import terminal following state overhaul of laws
After laws passed to alleviate supply shortages, Dutch tank storage company Vopak stated on Wednesday that it is confident of advancing the proposed liquefied gas import terminal (LNG) in Victoria, Australia’s largest gas-consuming State. The Victorian Energy Terminal proposed by Vopak in Port Phillip Bay, is one of four across southeast states that could meet the domestic gas demand.
Santos Australia gets the green light on $2.3 billion Narrabri Gas Project
Santos’ A$3.6 billion (2.32 billion) Narrabri Gas Project in Australia, can proceed. A tribunal has ruled that the project is allowed to go ahead, as the increase in energy supply for the Australian market outweighs concerns about the impact on the climate or damage to Indigenous heritage sites. The decision comes after a decade of fighting over the granting of leases to Santos…
Japan's oil refiners reduce decarbonisation and refocus on fossils fuels
Japanese oil companies have scaled back their decarbonisation projects, including ammonia and hydrogen, as the world shifts towards fossil fuels that are more cost-effective and stable. This move is a reflection of the growing concerns about energy security and U.S. policies risks. It also reflects rising costs for materials due to inflation. All these factors undermine project profitability.
