Maguire: US LNG exports reach new heights due to strong European demand
The U.S. has exported more than 20% of its LNG this year compared to the same period last year, mainly due to purchases from European nations. These countries accounted for three-quarters of all U.S. orders. According to Kpler (a trade intelligence firm), the total U.S. LNG shipments from January to April reached 34.6 million tons. This was by far, the highest volume ever recorded for this period. The United States exported 26.5 million tonnes or 77% of its total volume to European countries.
Maguire: US LNG exports reach new heights due to strong European demand
The U.S. has exported more than 20% of its LNG this year compared to the same period last year, primarily due to purchases from European nations. These countries accounted for three-quarters of all U.S. orders. According to Kpler (a trade intelligence firm), the total U.S. LNG shipments from January through April was 34.6 million tons. This is by far, the highest volume ever recorded for this period. The United States exported 26.5 million tonnes or 77% of its total volume to European countries.
Strategie Grains trims sunseed to keep EU rapeseed forecast.
Strategie Grains, a consultancy in the United Kingdom, has kept its forecast for 2025/26 European Union Rapeseed Production unchanged for the third consecutive month. However it has reduced its outlook for next EU Sunflower Seed Crop. The consultant still expects rapeseed production, the EU's major oilseed crop to reach 19.0 million metric tonnes next season, which is 13% more than the volume of 2024/25.
UK watchdog warns SLB-ChampionX could harm competition
The British Competition Regulator said that the proposed $8 billion acquisition of smaller competitor ChampionX by oilfield services firm SLB could lead to a significant lessening in competition in the United Kingdom. SLB and ChampionX will not be allowed to proceed with an in-depth investigation unless they offer corrective measures, said the Competition and Markets Authority. The companies have until April 3, 2019 to provide these remedies.
The gender pay gap in Australia has improved slightly but women are still paid 18.6% lower than men
A government report revealed that the gender pay gap in Australia has shrunk slightly, but women still earn nearly a fifth of what men do. The biggest disparities are found in the mining, construction and finance industries. The Workplace Gender Equality Agency's survey showed that 72.2% had a gender gap in favour of men, while 21.3% of employers had an equal gap between the two groups within +/-5%. The remaining employers had a gender gap in their favour.
US Energy Secretary attacks "sinister" net zero goals and singles out Britain
Chris Wright, the U.S. Energy secretary, called Monday's pledge to reach net zero carbon emission by 2050 "a sinister goal" and criticized British efforts to meet clean energy targets. The former president Joe Biden has set an ambitious goal for 2021: to reduce emissions to zero by 2050 in order to combat climate change. This will be achieved in part through subsidies that encourage the expansion of clean energy sources and electric vehicles.
China is ready to deepen and improve ties with the UK
China is willing to improve and stabilize bilateral relations with the United Kingdom, as well as to cooperate more in the areas of infrastructure, trade, and investment. This was stated by the Chinese Foreign Ministry in a Friday statement, citing their minister. Wang Yi visited Britain for the first time since a decade on Thursday. He met with the Prime Minister, Foreign Minister and National Security Advisor.
Shell should be held responsible for oil spills in Nigeria, says community leader before UK trial
Shell must take responsibility for the environmental damage caused in Nigeria by oil spills. A community leader made this statement on Thursday, as a crucial hearing in suits brought against Shell began at London's High Court. Godwin Bebe OKpabi, the leader of the Ogale Community in the Niger Delta said that he appealed to Shell to rectify the damage which, he claimed, had "destroyed [our] way of life".
Maguire: Recovering wind power may cool Europe's hot gas market
The wind-powered electricity produced in Europe in January 2024 was down by more than 7%, denying regional power producers a vital source of clean energy just as the demand for heating reached its peak. This wind shortage triggered an increase in Europe's natural gas-based electricity generation to its highest level in three years. It also supported a rally which has driven benchmark regional gas prices up by more than 15% this year.
Wright to speak at conservative event in London
The organization announced on Thursday that Chris Wright, Donald Trump's nominee to lead the U.S. Energy Department will be speaking to a conservative think-tank in London, next month. Wright has advocated expanding fracking operations in previous meetings. Wright, whose confirmation by the Senate is expected on Friday, will not be attending the Alliance for Responsible Citizenship Conference in person, according to a spokesperson for the department.
Sources say that Tesla's former China plant head will join renewable energy company Envision
Two sources with knowledge of the situation said that Tesla's former China Plant Manager is expected to join Chinese renewable energy company Envision. One source said that Song Gang, who announced Wednesday his departure from Tesla, will be taking on supply chain management duties for Envision. Envision and Song didn't immediately respond to separate comments. Tesla did not reply to a question about Song's departure.
Ørsted to Shed Part of its UK Wind Farm Stake - Bloomberg News
Bloomberg News reported Monday that Denmark's Ørsted had begun selling a stake in the largest wind farm planned for the United Kingdom coast. The report was based on people familiar with this matter. Reports added that the Danish utility is looking to sell around 50% of the Hornsea 3 Project, but did not specify the price at which it would like to do so.Ørsted's spokesperson confirmed that in February, the company said it had planned to sell its Hornsea III stake by 2025.
Shell and Equinor face off against UK North Sea oil, gas projects
Shell and Equinor urged on Tuesday an Scottish court to support Britain's approval of the development two vast North Sea gas and oil fields as environmental activists attempted to block these projects. Shell is fighting Greenpeace's legal challenge at the Court of Session of Edinburgh regarding Britain's approval of the Jackdaw Gas Field in 2022. Equinor, a Norwegian oil company, and Ithaca Energy, its partner in the case are opposing the decision of 2023 to approve the planned Rosebank Oilfield.
Exports of US ethanol are surging, but production is booming -Braun
The U.S. ethanol stock dropped last week despite a surge in production. This was partly due to the sharp rise in gasoline demand which reached three-year highs. Even though the production of corn-based ethanol has been setting records, record exports of the fuel additive have kept the U.S. supply in check. The abundance of cheap corn, and the relatively low prices of natural gas, have helped to support profit margins among U.S.
Exports of US ethanol are surging, but production is booming -Braun
The U.S. ethanol stock dropped last week despite a surge in production. This was partly due to the sharp rise in gasoline demand which reached three-year highs. Even though the production of corn-based ethanol has been setting records, record exports of the fuel additive have kept U.S. supplies under control. The abundance of cheap corn, and the relatively low prices of natural gas, have helped to support profit margins among U.S.
British Business – Sept 27
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. Keir starmer, British Prime Minister, is in talks with Donald Trump. He wants to build a relationship with him personally and continue his support for Ukraine. Two of the leading credit rating agencies in the world have rated Thames Water as on the verge of default. This could bring a government-backed bailout deal closer.
GE Vernova claims that offshore wind turbine blade failures have nothing to do with each other
GE Vernova said on Friday that recent turbine blade failures in two offshore wind farms located in the United States of America and the United Kingdom were unrelated. The company is still dealing with the fallout of three separate blade accidents that occurred in just four months. The latest incident occurred on August 22 at Dogger Bank, off the coasts of Yorkshire and the North Sea. This was just over a week after a blade broke off at Vineyard Wind off the coasts of Massachusetts.
Harbour Energy, UK to complete Wintershall Dea Asset Deal in September
Harbour Energy, of Britain, said Tuesday that it expected to complete the purchase of Wintershall Dea assets by early September. This is a change from its previous estimate of early in the 4th quarter. Harbour's shares rose 7.2% to 301.10p at the opening of morning trading. The biggest British North Sea oil-and-gas producer has said that it has made significant progress in satisfying the completion conditions, including regulatory approvals from Mexico.
The European gas surplus is almost gone: Kemp
The record European gas surplus that was inherited in winter 2023/24 is now largely gone, thanks to a very small accumulation of stocks so far this summer 2024.Gas Infrastructure Europe (GIE) data shows that inventories in the European Union and United Kingdom are up just 336 Terawatt Hours (TWh).The accumulation is the lowest since 2012, and compares to a 10-year average of 443 TWh (Aggregated Gas Storage Inventory", GIE. August 14).On Aug.
Delft Students Cross North Sea on Self-Built Hydrogen Boat
On July 11, 2024, Dutch students from the TU Delft Hydro Motion Team arrived in Ramsgate with their self-built hydrogen boat, becoming the first to cross from the Netherlands to England with a fully hydrogen-powered vessel, making the nearly 169-km journey across the North Sea on a single tank.Read more about the future of Hydrogen in the maritime space in our inteview with Roy Campe, CTO, CMB.TECH in…
