US Gulf Coast Fuel Oil Imports Drops As Heavier Crude Is Preferred
Fuel oil imports into the refinery hub on the U.S. Gulf Coast hit a record low in June as tighter global supplies prompted refiners to run more heavy, sour crude.When refineries run a heavier, sourer crude slate, they produce more heavy residue, which is either processed in a secondary unit to produce higher value products like gasoline or diesel.Gulf Coast-bound fuel oil imports hit a record low at 213,000 barrels per day in June, down from 233…
Shell to Add Up to 12 million Tons of LNG Capacity by 2030
Shell, the world's largest trader of liquefied natural gas, will add up to 12 million metric tons of additional capacity between now and the end of the decade from projects under construction, a top executive said on Wednesday."(There is) up to 12 million tons of additional (LNG) capacity that we're adding between now and the end of the decade," Cederic Cremers, Shell's president of integrated gas, said at Wood Mackenzie's Gas, LNG and the Future of Energy Conference in London."That is not an ambition.
Shell will add 12 million tonnes of LNG capacity to its existing LNG production by 2030
Shell, the largest trader in liquefied gas in the world, plans to add 12 million metric tonnes of capacity from now until the end of this decade, according to a senior executive on Wednesday. Shell's integrated gas president, Cederic Crémers, told Wood Mackenzie’s Gas, LNG, and the Future of Energy Conference, held in London, that Shell would add up to 12,000,000 tons of (LNG). "That's not an ambition. "These are all current construction projects," he said. One project was in Canada, while two others were in Qatar and Nigeria.
The US solar energy market will slow down as Washington shifts its priorities
A report released on Monday by the top solar trade association predicts that the number of new solar energy installations in the United States will decline over the next five-year period as the industry struggles with a federal policy shift favoring fossil fuels and tariffs. According to the Solar Energy Industries Association's and Wood Mackenzie's forecast, new solar capacity in 2030 will be over 10% less than it was in 2025. This includes an assessment of the impact of federal tariffs that will be imposed on steel and aluminum…
Wood Mackenzie warns that Australia will not meet its renewable energy target.
Wood Mackenzie, a consultancy, said that Australia will fall well short of its target to generate 82% of electricity from renewable sources by 2030, due to state-level rollbacks and grid connection delays, as well as inadequate investment. Australia is one of the most polluting countries in the world per capita because it produces coal-powered electricity. It has plans to close all coal-fired power stations by 2038. The center-left Labor Government…
Wood Mackenzie is concerned about the challenges of meeting the gas-powered energy demand in 15 years.
In a report published on Wednesday, Wood Mackenzie, an energy research company, said that the gas turbine market may have difficulty meeting strong demand over the next 15 to 20 years because of manufacturing constraints, increasing costs, and competition from renewables. Wood Mackenzie predicts that new gas-fired power generation projects will add around 890 gigawatts (GW) of capacity globally between 2025-2040. The U.S.A. and China are expected to lead the way with 47% annual additions in the same period.
US tariffs and Europe's slowdown change global solar panel trade
Trade data revealed that solar panel manufacturers in Laos, Indonesia and Cambodia, which are mostly owned by Chinese companies, increased their market share in the U.S. after tariffs on exports to other Southeast Asian nations, including Cambodia and Thailand were imposed. After two rounds of tariffs last June and November, the U.S. Government finalised steep levies against imports of solar modules and cells from Vietnam, Malaysia and Thailand in April.
US tariffs and Europe's slowdown change global solar panel trade
Trade data revealed that solar panel manufacturers in Laos, Indonesia and Cambodia, which are mostly owned by Chinese companies, increased their market share in the U.S. after tariffs on exports to other Southeast Asian nations, including Cambodia and Thailand were imposed. After two rounds of tariffs last June and November, the U.S. Government finalised its steep levies against imports of solar modules and cells from Vietnam, Malaysia and Thailand in April.
Mubadala Energy acquires Kimmeridge LNG and gas projects in the US
Mubadala Energy is an arm of Abu Dhabi’s sovereign wealth fund. It signed a deal with Kimmeridge, a US-based energy investor, on Thursday that gives it stakes in American gas assets. This marks its entry into the United States market, as part of the company’s growth plans. Mubadala Energy announced that the deal to purchase 24.1% of Kimmeridge’s SoTex HoldCo would give Mubadala Energy direct access to Kimmeridge’s unconventional gas production and to a Louisiana liquefied gas export project.
Wood Mackenzie reduces 5-year US Wind Energy Outlook by 40% due to Trump policies
On Tuesday, a prominent energy research company slashed their five-year forecast for new U.S. Wind Energy Projects by 40%, citing Trump Administration policies and concerns over the economy. Wood Mackenzie predicts that the United States will install 45.1 gigawatts (both onshore and off-shore) of wind power through 2029. The firm had initially forecast 75.8 GW of installations over this period. The Energy Information Administration announced last month that the U.S. electricity consumption will reach record levels in 2025 and beyond.
As Trump tariffs cause demand concerns, refining stocks plummet to levels not seen in two years.
Investors were rattled by fears about a slowdown in oil and fuel consumption and a decline in refining margins after President Trump announced new tariffs. According to LSEG data, the market capitalization of top refiners Marathon Petroleum and Valero Energy, as well as Phillips 66, has dropped by more than 20 billion dollars since Trump announced new tariffs Wednesday afternoon. Alan Gelder is vice president for refining chemicals and oil markets, Wood Mackenzie.
As Chinese demand slows, mining consolidation will accelerate.
The mining industry is expected to consolidate due to the decline in industrial metals demand, especially in China, the top consumer. Investors said that for now, the high costs of mergers and acquisitions among diverse miners and the significant chance of rejection could hinder full-scale activity. This is ahead of the global gathering of the Copper Industry for the CESCO in Santiago, Chile, next week. LSEG data shows that M&A activity…
As Chinese demand slows, mining consolidation will accelerate.
The mining industry is expected to consolidate due to the decline in industrial metals demand, especially in China, the top consumer. Investors say that for the moment, mergers and acquisitions among diversified miners may be hindered by prohibitively high costs and a significant chance of rejection. LSEG data shows that M&A activity in the mining sector dropped 27% in terms of value to $15 billion during the first quarter compared with the same period in 2024. BHP shares are down 26% since the beginning of 2024.
Wood Mackenzie: LNG for Power Generation Emits 'Significantly' Less Than Coal
Wood Mackenzie has published a new report comparing the life cycle emissions of LNG with those of coal for power generation, finding the combustion of coal is related to significantly higher emissions.Wood Mackenzie’s analysis in the report titled 'Shining a light on the ‘coal versus LNG emissions’ debate' reveals the lifecycle emissions of U.S. LNG are typically around 48% of the coal equivalent. This difference is not just related…
Trump hosts top US oil executives as trade wars threaten
Donald Trump, the U.S. president, will be hosting top oil executives in the White House this Wednesday to discuss plans for boosting domestic energy production amid falling crude prices and trade wars. This will be Trump's first meeting with oil and gas executives since he returned to the White House in January for his second term. According to a source familiar with planning the event, it will include members of American Petroleum Institute (API)'s executive committee.
Experts say that Trump's tariffs against steel and aluminum will increase costs for US energy companies
The proposed U.S. steel and aluminum tariffs will increase costs for U.S. Oilfield Services companies that rely on this metal for their operations. Oilfield service firms like ChampionX and Patterson UTI are the backbone for the North American oil and natural gas industry. They provide essential equipment and services to drill, produce and maintain. Steel is the lifeblood of these industries - drilling platforms, pipelines and refineries, compressors and storage tanks, offshore platforms, and offshore platforms.
Report: Solar power will account for 84% of the new US electricity added in 2024.
A report released on Tuesday stated that solar energy contributed 84% of the new electricity generation capacity to the U.S. grid in the past year. However, the industry will face challenges with the new energy policies adopted by the U.S. government. In a report, Wood Mackenzie and the Solar Energy Industries Association (SEIA), said that the country will install 50 gigawatts of new solar power in 2024. They added that this is the largest growth year for any energy technology over the past two decades.
Local news reports say that Equinor is planning to sell its assets in Argentina.
Mas Energia, a Mas Energia-published online magazine, reported that the Norwegian oil and gas company Equinor was looking to sell their onshore assets located in Argentina's Vaca Muerta Region, citing anonymous sources. Equinor has appointed Bank of America as the agent to sell its 30% stake in Bandurria Sur and 50% in Bajo del Toro Norte. However, no decision on the divestment has been taken yet, according to the report. Mas Energia said that the Norwegian company has no plans to sell its stakes offshore licenses in Argentina.
Local news reports say that Equinor is planning to sell its assets in Argentina.
Mas Energia, citing anonymous sources, reported that Norwegian oil and gas company Equinor was looking to sell their onshore assets located in Argentina's Vaca Muerta Region. Equinor has appointed Bank of America as the agent to sell its 30% stake in Bandurria Sur and 50% in Bajo del Toro Norte. However, no decision on the divestment has been taken yet, according to the report. Mas Energia said that the Norwegian company has no plans to sell its stakes offshore licenses in Argentina. A spokesperson for Equinor declined to comment.
Winds of Change Blew Through Offshore Wind, and Denmark Missed It
Analysts said that the failure of Denmark to receive any bids for an offshore wind energy tender this week is due to a rigid auction system, a failure adapt to a changing economic reality and increased competition.It was a major blow for Denmark, the home of turbine manufacturer Vestas, and offshore developer Orsted. Both companies have been pioneers in both onshore and offshore wind power.The Danish North Sea tender, for a minimum of 3GW of capacity, did not offer any subsidies.
