Maguire: The global energy transition is shifting from generation to integration.
The global electric grid is entering a new stage. Investment spending by utilities has shifted from solar panels and?farms to the infrastructure required to make renewable-heavy energy systems work. In Europe, Asia and Africa, as well as Oceania, Latin America and Oceania, the demand for grid equipment and batteries is still on the rise…
Warren Buffett’s path to investing glory
Warren Buffett is retiring as chairman of Berkshire Hathaway, the legendary investor and former CEO. This marks the end of his executive duties with the company he helped turn into one of the largest conglomerates in the world. Buffett will be appointed chairman emeritus. This is…
German energy company SEFE increases gas storage to ensure winter reserves
SEFE, the German state-owned company that owns SEFE, said Wednesday it has independently increased its natural gas storage levels. This comes as Europe enters winter with lower inventories than in recent years. Germany and other European countries are scrambling for a way to replenish their depleted gas reserves before the winter months.
Japan signs first LNG supply agreement with Malaysian Petronas
The Japan industry ministry announced on Friday that the country had signed a deal with Malaysia's Petronas to procure liquefied gas for an emergency. The master sales and purchasing agreement will allow Petronas LNG to be delivered to the Japan Organization for Metals and Energy Security.
Enbridge names Michele Harradence, a veteran in the industry, as the successor to retiring CEO Ebel
Enbridge announced on Tuesday that its CEO Greg Ebel will retire by the end of 2026. He will be replaced by industry veteran Michele Harradence. Enbridge, during Ebel's tenure at the helm, acquired three utilities from Dominion Energy. This helped make Enbridge one of North America’s largest integrated gas utility platforms.
Tropical Storm Edouard reaches Gulf Coast near Texas and Louisiana
Tropical Storm Edouard, which churned from the Gulf of Mexico and sloshed to the shore near the Texas-Louisiana border Tuesday with sustained winds up to 60 miles per hour and unleashing soaking downpours. According to the National Hurricane Center, Edouard made its landfall in Louisiana's…
Chesapeake Utilities Sells Stake in Florida Natural Gas Project
Chesapeake Utilities said on Tuesday its unit has sold a 49% stake in a $1.2 billion South Florida natural gas transmission infrastructure project to NextEra Energy Resources.The project, called Florida Energy Pathway, is designed to expand natural gas transportation capacity and address regional supply constraints, Chesapeake said.Here are more de
Wall Street closes lower due to a jump in oil prices, while indexes post monthly gains
?U.S. Stocks fell on Monday as Wall Street turned the page on an unpredictable month. A war-related rise?in crude oil prices revived inflation concerns?and increased the likelihood of tighter policy. Investors processed U.S. Federal Reserve Chairman Kevin Warsh's hawkish remarks at the Jackson Hole Symposium on Friday. All three of the major U.S.
Russell: The imports of thermal coal from Asia continue to rise, except in India
Asia increased thermal coal imports for the third consecutive month in July as major buyers like China, Japan and South Korea purchased more fuel to meet 'peak summer demand. According to Kpler, commodity analysts, Asia is expected to import about 73.16 millions metric tons of seaborne thermal coal in July.
Russell: The imports of thermal coal from Asia continue to rise, except in India
Asia increased thermal coal imports for the third consecutive month in July as major buyers like China, Japan and South Korea purchased more fuel to meet the 'peak summer demand. According to Kpler, commodity analysts, Asia is expected to import about 73.16 millions metric tons of seaborne thermal coal in July.
Teck Resources beats profit estimates on strong copper production, prices
Teck Resources, a copper producer and producer of higher-quality products, beat Wall Street's expectations for the second quarter profit on Thursday. In afternoon trading, shares of the company rose by 4%. The benchmark three-month price of copper rose 41.5% from the previous quarter…
Teck Resources exceeds profit forecasts on higher copper production and prices
Teck Resources, aided by higher copper prices and increased production, beat Wall Street expectations for the second-quarter profit on Thursday. In?premarket trade, shares of the 'company' rose by nearly 6%. Benchmark - Three-Month Copper Prices climbed 41.5% from a quarter earlier due to concerns about tight supplies in China and high demand.
Maguire: Wildfires are a threat to the US power sector in multiple ways.
Wildfire season in the American West was seen as a major threat for years. It affected homes, forests, and utilities. As smoke from fires blankets vast swaths across the country, this is also becoming a challenge for the power sector. The U.S. grid has changed. The U.S. grid is changing. Smoke from wildfires interferes with all of these.
Japan utilities welcome LNG auction quotas citing investment certainty
Japan's utilities welcomed a proposal by the government to set dedicated quotas under its long-term power source auction (LTDA) for new liquefied gas-fired power stations, saying that this would increase investment visibility. Nozomu Muri, Chairman of the Federation of Electric Power…
Russell: Asia's LNG imports are recovering, bringing cargoes to Europe in need.
Asia's LNG imports are expected to reach a six-month peak in July, while Europe's will plunge to the lowest level in almost two years. The weakness in Europe shows how far behind the second largest consuming region is in building up inventories to meet winter demand. Kpler's commodity…
Russell: Asia's LNG imports are recovering, bringing cargoes to Europe in need.
Asia's LNG imports are set to reach a six-month peak in July, while Europe's fall to the lowest level in almost two years. The weakness in Europe shows just how far behind the second largest consumer region Europe is in building inventories to meet winter demand. The?commodity analyst?Kpler…
Dutch Grant Backs SolarDuck's Offshore Solar Power Hub Scheme
Offshore floating solar company SolarDuck and the Maritime Research Institute Netherlands (MARIN) have been awarded a $3.7 million (€3.2 million) subsidy from the Netherlands Enterprise Agency (RVO) to advance the development of an offshore floating platform designed to provide power…
Russell: China, Japan and South Korea are the main buyers of thermal coal in Asia.
Asia's seaborne thermal coal imports are rebounding, as China increases purchases to compensate for a soft domestic production and Japan and South Korea look for energy security amid the fallout of the U.S. and Israeli war on Iran. According to commodity analysts Kpler, imports in…
Russell: China, Japan and South Korea are the main buyers of thermal coal in Asia.
Asia's seaborne thermal coal imports are on the rise as China increases purchases to compensate for a soft domestic production and Japan and South Korea look for energy security in the aftermath of the?U.S. and Israeli war against Iran. According to commodity analysts Kpler, imports…
India's thermal power imports fall to a four-year low as the green energy sector rises
India's thermal coke imports dropped to a four-year low between January and May?due mainly to higher domestic production and increasing renewable energy generation, according commodities consultancy BigMint. The consultancy reported that overall, thermal coal imports fell by 12% in the past year, to a total of?65 millions tons.