California lawmakers pass bill to increase oil production
California lawmakers approved a bill this weekend to allow for the construction of thousands new oil wells in California each year. The goal is to keep fuel prices down for consumers and make oil more affordable for refineries. SB 237 would grant up to 2,000 oil permits per year in Kern County, which is rich in oil, starting January 2026. California oil producers are expected to supply up to 25% of crude oil to the state refinery complex, and reduce the cost of gasoline for consumers in the state. According to the California Energy Commission, California produced 119,000 barrels of oil per day last year and its producers provided around 23% of the refineries within the state.
Alaskans fear higher energy prices as Trump drills
Alaskans spend nearly two times as much on electricity as the national average. Matt Goodnow, financial counselor at a hospital located in Homer, Alaska, a fishing village on the Kenai Peninsula, said that higher energy costs would be detrimental to the community. The Trump administration is not only planning to eliminate federal funding for renewable energy projects and to remove tax breaks, it also proposes to lift the limits set by former president Joe Biden regarding oil and gas drilling in Alaska. Renewable energy projects in Alaska have been halted or cancelled by leading companies.
Germany is planning to stop using fixed-term contracts for renewable energy installations
According to the Economy Ministry, Germany will no longer use long-term fixed-price contracts for buying power from new renewable energies installations. However, it will continue to support this sector. The critics of fixed feed-in rates say that they are too expensive for the government and energy consumers, and that renewable industries have been established enough to be subjected to market forces. The economy ministry announced that alternative financing models will be examined. The economy ministry said that alternative financing models would be considered after presenting the results of an energy transition monitoring study.
EUROPE GAS-European Gas Prices Fall on Stable Supply and Low Demand
Dutch and British wholesale prices of gas ticked down on Monday morning due to a steady supply and mild weather with windy conditions that limited demand. However, fresh sanctions related to Russia remain a downside risk. LSEG data shows that the benchmark Dutch front-month contract was 32.19 euros per Megawatt Hour (MWh) or $11.07/mmBtu at 0843 GMT. This is a decrease of 0.46 Euro. The Dutch day-ahead contracts was down by 0.10 euros at 31.90 Euro/MWh. The British gas price for the month ahead fell by 1.28 pence, to 79.15 p/therm. Meanwhile, the price for today dropped by 1 pence, to 78.8 p/therm.
China's fossil-fueled power generation in August rose to its highest level in decades
Data and records from the Statistics Bureau showed that China's fossil-fuelled electricity generation in August rose to its highest since at least 1998. This was to compensate for a fall in hydropower production to meet summer demands, according to data. The rise in demand was a result of China's most extreme summer ever, which increased air conditioning use. This shows the country's dependence on fossil fuels for the spikes in demand caused by extreme weather, even though coal's share is declining. According to data from the National Bureau of Statistics, thermal power generation in August was 627.4 kilowathours (kWh), a 2% increase from a year ago.
China's crude oil output in August is up 7.6% on a year-on-year basis
China's crude throughput in August increased 7.6% compared to a year ago, official data revealed on Monday. State-owned refineries also maintained high operating rates. According to the National Bureau of Statistics, the world's second largest oil consumer processed approximately 14.94 million barrels of crude per day in August. The daily processing rate was the second highest over a period of 17 months, but it was 1.3% below the highest level in June 2025. From January to August, crude oil production was 488.07 metric tons or 14.7 millions bpd. This is a 3.2% increase compared to last year's same period.
China's coal production fell 3% in August due to production curbs
China's coal production fell by 3% in August compared to the same month last year, according to data released on Monday by the statistics bureau. Production restrictions continued. The output was 390.5 million metric tonnes, down from the previous year but up from the 380.99 millions tons in July, which was a low for a whole month. China has launched a "anti-involution campaign" to reduce industrial overcapacity and support prices. In July, a series of safety inspections was launched across several provinces to ensure that mines did not produce more than their allocated capacity.
US EPA proposes to end mandatory greenhouse gas reporting
The U.S. Environmental Protection Agency (EPA) proposed a rule on Friday to end the mandatory reporting of greenhouse gas emissions by 8,000 facilities. This program, the EPA said, was burdensome for businesses but left the public in the dark about the environmental impact. The rule is a response to an executive order that was issued on the first day of President Donald Trump's presidency. It aims to remove barriers to unleashing U.S. Energy, especially fossil fuels. This is just the latest in a long line of regulatory rollbacks that have undone previous U.S. attempts to combat climate changes.
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added natural gas and oil rigs this week for the second consecutive week for the first since April. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending September 12. Baker Hughes reported that oil rigs increased by two this week to 416, the highest level since July. Gas rigs remained at 118. Oil and gas rig counts declined by around 5% in 2020 and 20% in 2023, as lower U.S. gas and oil prices in the last couple of years led energy firms to place more emphasis on increasing shareholder returns and paying off debt than increasing production.
US energy chief: EU could stop buying Russian gas in a year
Chris Wright, the U.S. Energy Secretary, said on Friday that the European Union can replace Russian gas with U.S. Liquefied Natural Gas within 6-12 months. The United States has communicated its position to EU officials in this week. Wright spoke in Brussels on Thursday, when he met EU Energy Commissioner Dan Jorgensen. The U.S. is increasing pressure on Europe to stop Moscow from receiving energy revenues, in an effort to end the conflict in Ukraine. The EU is currently negotiating proposals that will phase out the imports of Russian gas and oil by January 2028. Short-term contracts will be banned from next year. Wright was asked how fast the EU could eliminate Russian gas.
Gunvor expands its precious metals trading into physical trading
Gunvor, a global commodity trading company, has announced that it is expanding its precious-metals business beyond trading derivatives to include physical metal. The company also revealed that it has hired experts in London and Singapore's trading hubs. Gunvor's growth in this sector coincides with an upswing that has seen the gold price double since late 2022, as investors sought refuge from geopolitical and economic turmoil. On Tuesday, spot gold reached a new record of $3674 per troy-ounce. The World Gold Council's data from 2018 shows that the global gold market traded $329 billion per day on average in the first half 2025.
US energy chief: EU could stop buying Russian gas in a year
Chris Wright, the U.S. Energy Secretary, said on Friday that the European Union can replace Russian gas with U.S. Liquefied Natural Gas within 6-12 months. The United States has communicated its position to EU officials in this week. Wright spoke in Brussels on Thursday, when he met with EU Energy Commissioner Dan Jorgensen to discuss the end of Europe's purchase of Russian energy. The EU is currently negotiating legal proposals that will phase out the imports of Russian gas and oil by January 2028. Short-term contracts will be banned from next year. Wright was asked how fast the EU could eliminate Russian gas.
Prices for EUROPE GAS are on the decline due to increased wind and LNG supplies
Dutch and British wholesale prices of gas fell on Friday morning, as a higher wind output is expected to begin Monday. Also, the supply of liquefied gas (LNG), was also increasing. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 0.33 euros to 32.05 Euro per megawatt hour at 0815 GMT. The contract for November was lower by 0.23 euros at 32.94 euro/MWh. The British gas prices for the weekend were down 0.50 pennies at 78.50 penny per therm. According to LSEG, the wind generation in North-West Europe will be 60% higher on Monday than it is today. This will reduce the demand for gas at power plants.
Denmark buys $9 billion worth of air defence systems amid growing tensions with Russia
Denmark will buy air defence systems made in Europe for 58 billion Danish crowns (9.11 billion dollars), making it its largest ever arms purchase. The country's Defence Minister said this on Friday. He cited a difficult security situation. In February, the Danish Prime Minister Mette Fredericksen ordered that military equipment be purchased in anticipation of a possible future Russian invasion in Europe. Denmark is planning to purchase eight systems. These include the Eurosam SAMP/T long-range platform, which was developed by MBDA France and MBDA Italy, along with Thales. They also plan to buy medium-range systems from Norway, Germany, or France.
IEA reduces 2030 low-emission hydrogen production forecast by almost a quarter
The International Energy Agency reported on Friday that a wave of cancellations as well as cost pressures and policy uncertainties have reduced the projected 2030 development by almost a quarter. The IEA's Global Hydrogen Review states that the IEA expects to produce 37 million metric tonnes of low-carbon fuel per year by 2030. This is down from 49 millions a year ago as developers have shelved plans or delayed them. It added that the actual output may be lower, as not all projects announced are completed. The report stated that the capacity of plants that are already in operation…
Wall Street Journal, September 12,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Microsoft and OpenAI reached a tentative deal to ease tensions in their partnership. This agreement removes a major obstacle for the ChatGPT maker’s for-profit restructuring plans, which include a $100 billion endowment for nonprofits and a new ownership model with each company holding approximately 30% of the shares. Paramount Skydance is preparing to bid for Warner Bros., with David Ellison's backing. Discovery is combining their legendary studios with streaming services such as HBO Max and Paramount+.
Australia approves the North West Shelf Gas Plant to operate until 2070
Australia approved Woodside's application to operate Australia's second largest and oldest liquefied gas plant, the LibNaGa Plant, until 2070. The new emission rules were imposed to reduce its environmental impact. North West Shelf, a plant in Western Australia, is expected to emit up to 4.3 million metric tons carbon dioxide over its lifetime. Critics say this will endanger nearby ancient rock art as well as set back climate change efforts. Murray Watt, the Environment Minister, told a Friday press conference that Woodside had accepted a number of conditions to protect Indigenous art.
Sources say that Canada could drop its oil emission cap as part of a new climate plan
Three sources familiar with the discussions said that the Canadian government was in talks with Alberta and energy companies about removing a federal cap for emissions in the oil and gas industry if both the province and the industry reduced their carbon footprints in other ways. Sources who weren't authorized to publicly discuss the discussions said that the government of Prime Minister Mark Carney has discussed the removal of the cap with the oil companies, and Canada's leading oil producing province, if they made other environmental concessions. Canada's emission cap has yet to be implemented by legislation.
Sources say that Canada could drop its oil emission cap as part a new climate plan
Three sources familiar with the discussions said that the Canadian government was in talks with Alberta and energy companies about removing a federal cap on the emissions of the oil and gas industry if they reduced their carbon footprints in other ways. Three sources who weren't authorized to publicly discuss the talks said that the government of Prime Minister Mark Carney has discussed removing a federal cap on emissions from Canada's oil and gas sector with energy companies and Alberta if the industry and province reduce their carbon footprint in other ways. The Canadian emissions cap is not yet implemented by legislation.
Sources say that Canada could drop its oil emission cap as part of a new climate plan
Three sources familiar with the discussions said that the Canadian government was in talks with Alberta and energy companies about removing a federal cap on the emissions of the oil and gas industry if they reduced their carbon footprints in other ways. Three sources who weren't authorized to publicly discuss the talks said that the government of Prime Minister Mark Carney has discussed the removal of the cap with the oil companies and Canada’s top oil producing province if both parties make other concessions on the environment. The legislation to implement Canada's emission cap is still pending.