Carrier is the latest multinational company to sue India for electronic waste regulations
The Indian unit for the U.S. Air Conditioning giant Carrier is the latest large firm to file a lawsuit against Prime Minister Narendra Modi over the electronic waste regulations that have increased the fees manufacturers are required to pay to recyclers. The High Court of Delhi will hear the cases of Tata Voltas…
Source: Russian government talks tax relief for Gazprom
A government source revealed on Monday that the Russian government is considering tax reliefs for the energy giant Gazprom. These could be offset by higher taxes on gas producers in general. Novatek and Rosneft, two other major gas producers in Russia, are also listed. Moscow must balance…
UK-based Balfour Beatty awarded $1.14 billion contract to build new gas power plants
Technip Energies, a French energy company, awarded Balfour Beatty of Britain a contract worth 833 million pounds ($1.14 billion). The project involves the construction of a UK gas-fired power plant. Balfour Beatty announced that construction on the plant, where 1,500 workers will be employed, will begin later this year and will end in 2028.
Sources say that Brazil's Petrobras has held off on raising fuel prices amid tensions with Iran.
Petrobras, the Brazilian oil company, is closely watching geopolitical tensions that have been driving up global oil prices in recent weeks. However, it does not intend to adjust domestic fuel prices at this time, according to two sources. Sources, who spoke on condition of anonymity…
Gazprom says that the US and Chinese purchases of strategic reserves may offset Russia's oil surplus.
The head of Russian oil producer Gazprom said that the U.S., China and other countries' purchases of strategic oil reserves will offset any global surplus to keep oil prices in check. The eight members, who are OPEC+ and include Russia and other producers, have decided to increase production for the months of April, July and August.
TotalEnergies plan to restart LNG project is a positive for the energy minister of Mozambique
Mozambique’s energy minister stated on Friday that the government had not received a formal request from TotalEnergies for the lifting of a declaration of force majeure on the $20 billion liquefied gas (LNG), project in the country. However, he was optimistic about TotalEnergies' plan to restart its development during the summer.
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.
Exxon, Chevron acquires blocks in Brazil's environmentally-sensitive Foz do Amazonas basin
Exxon Mobil and Chevron on Tuesday took their first steps toward eventually exploring oil in Brazil's Foz do Amazonas basin, scooping up offshore blocks auctioned by the country in the promising but environmentally-sensitive area. This is the first time that a company other than Brazil's Petrobras has ventured into the biodiverse ecological area.
PetroChina aims to reduce risks by increasing North American LNG volume, according to an executive
PetroChina International, trading arm of Chinese oil giant, is interested in North American supplies of liquefied gas. The company wants to reduce its trading risks by negotiating flexible supply agreements, according to a company official on Tuesday. If I look at the portfolio we have today, I'd say that there is a slight over-weighting on duration.
TotalEnergies acquires 40 offshore US blocks operated by Chevron
PARIS, 16 June - French oil giant TotalEnergies announced on Monday that it had acquired a 25 percent interest in 40 federal exploration leases operated by Chevron in the Gulf of Mexico. The outer continental shelf leases consist of 13 blocks located in Walker Ridge, 9 blocks within the Mississippi Canyon region and 18 blocks situated in East Breaks.
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…
ADNOC consortium offers $18.7 billion to takeover Australia's Santos
Santos, an Australian oil and natural gas company, said Monday that it would support a $18,7 billion bid by an international consortium led Abu Dhabi National Oil Company (ADNOC) to acquire the company. ADNOC has, via its investment arm XRG in conjunction with Abu Dhabi Development Holding Company…
Amazon will invest $13 billion over 5 years in Australia's Data Center Infrastructure
Amazon announced in a Saturday blog post that it will invest A$20 Billion ($12.97 Billion) between 2025 and 2029 in Australia to expand, maintain, and operate its data center infrastructure. This investment is expected to boost the country's artificial-intelligence capabilities. Amazon has made its largest technology investment in Australia.
XRG Aims For Gas and LNG Capacity of 20-25 Million Tons a Year by 2035
XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), is aiming to have a gas and LNG business with a capacity of between 20 million and 25 million metric tons a year by 2035, the company said in a statement on Tuesday.XRG was set up last year as an investment company focused on lower-carbon energy…
Petrobras CEO: Africa will be the main exploration region for Petrobras outside Brazil.
Petrobras wants to develop Africa as its primary region outside Brazil. The CEO of the state-run oil company said this in a broad interview on Thursday. Petrobras CEO Magda Chabriard said that Ivory Coast extended the "red-carpet" to Petrobras when it granted the company the preference for buying nine offshore exploration blocks on Wednesday.
Brendan Nelson, chair of the audit committee at HSBC, is named interim group chairman
HSBC Holdings PLC announced on Friday that Brendan Nelson will be the interim group chairman after Mark Tucker retires from his role on September 30, following his retirement. Tucker will also resign as a member of the board on that date. The process of selecting the permanent HSBC Group Chair…
Mark Tucker, former chairman of HSBC, joins Asia insurer AIA
Mark Tucker, HSBC’s highly-regarded Chairman, will leave the bank and take up a new position as chairman of AIA Group. He was previously CEO of the pan-Asian insurer where he served. HSBC announced that Brendan Nelson, a KPMG former partner and member of its board who chairs the audit committee for the group, will become interim chairman on October 1.
Abu Dhabi's XRG aims to reach a gas and LNG capacity of between 20-25 million tonnes per year by 2035
XRG is the international investment arm for Abu Dhabi National Oil Company. The company stated in a Tuesday statement that it aims to have a business of gas and LNG with a production capacity between 20 and 25 million metric tonnes per year by 2035. XRG, a company that invests in lower-carbon energy sources…
Sources say that Hokchi Energy, frustrated by Mexico's Pemex and its refusal to buy oil from them, pushed for a change in who purchases their oil.
Three sources said that Hokchi Energy in Mexico, frustrated with months of late payments from the state-owned company Pemex for its oil, gas and natural gas, sought to amend its contract so that it could do business with PMI Comercio Internacional. Hokchi Energy’s attempt to change the…
German utility RWE announces partnership with tech giant Amazon
The German utility RWE announced on Thursday a strategic framework deal with tech giant Amazon, in which the utility will deliver clean energy and receive cloud services in exchange. Cloud services include artificial intelligence and data analysis in exchange for electricity provided by RWE's solar and wind facilities.
