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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…
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Key China Energy Indicators to Track for the Rest of 2024
Slower consumption in China spurred the Organization of the Petroleum Exporting Countries (OPEC) to cut estimates for global…
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Kemp: Oil traders focus on the economy, not dwindling stock
The oil prices fell in recent weeks, as traders looked past the depletion of global inventories and focused on a future threat…
Latest news
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US Arrests Turk for Alleged Sanctions Violations
U.S. authorities have arrested a Turkish man who they allege was trying to violate sanctions by transporting oil from Venezuela…
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Orsted Addresses Swedish Baltic Sea Wind Concerns
Orsted CEO assures Sweden that the offshore wind industry has solutions that would address defense concerns. At issue: Sweden's…
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Orsted says US Green Energy Demand Will Grow Regardless of Election Results
Orsted said that the demand for green power will continue to grow in the United States, regardless of the person who is elected as president.
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Palm oil prices end higher due to rival oils' strength and a weaker Ringgit
Malaysian palm futures closed higher on Wednesday. This was supported by gains made in vegetable oils that are competing…
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Spots fall as wind and nuclear power rise
European prompt electricity prices fell on Tuesday, as the wind power supply is expected to increase from levels which caused…
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Palm prices rise on Dalian Soyoil strength, and the weaker Ringgit
Malaysian palm futures were up on Wednesday. This was due to gains in Dalian Soyoil, a weaker Ringgit and an upcoming industry…
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Devon Energy beats profit estimates, raises production forecast
Devon Energy, an oil and gas company, reported a third-quarter profit that was above expectations due to strong production.
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The future EU energy chief says he will speed up the end of Russian gas imports
Dan Jorgensen wants to end the EU's dependency on Russian fossil fuels as soon as possible, he said at a Tuesday parliamentary hearing.
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Freeport's local director says that the delay in mining permits is a serious issue.
The U.S. mining company Freeport-McMoRan's local director said that the extended delay in Chile in enacting the reforms aimed…
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FinecoBank predicts record revenue in 2024 on the back of rising commissions
FinecoBank, an online bank and brokerage in Italy, forecast record revenues this year. The company also pledged a higher…
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Oil India's Q2 profit forecast misses the mark due to lower prices and muted demand
State-run explorer Oil India reported a smaller-than-expected second-quarter profit on Tuesday, weighed down by lower crude…
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MPLX's earnings for the third quarter increase as pipeline throughputs rise
The U.S. midstream firm MPLX announced a higher net profit for the third quarter 2024 compared to the previous year on Tuesday…
Offshore Oil & Gas
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France's Engie Surprises with Higher assistance
tax (EBIT), leaving out nuclear, to 5.6 billion euros ($ 6.05. billion).Revenues a year ago at Engie, the largest gas network.
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Solar, Wind Uptake to Reach 5.4 TWac from 2024 to 2033, Says Wood Mackenzie
Global solar deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, while 640% growth…
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Tyra II Production Successfully Restarted
The Tyra Redevelopment Project (Tyra II) has restarted production. At plateau, the Tyra hub will produce 5.7 million cubic meters of gas and 22…
Shale Oil & Gas
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Gas prices in Europe are rising on a weak wind ahead of the US election
The Dutch and British wholesale prices of gas rose slightly Tuesday morning due to a weak wind and in anticipation of what should be a close U.S.
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Russian oil and Gas Revenues Jump 57% m/m In October
The Finance Ministry reported on Tuesday that the proceeds from oil and natural gas sales to Russia's federal government…
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Uniper buys German hydropower to hedge against future price increases
The German utility Uniper said that it has sold large quantities of future hydropower production as part of an hedging strategy.
LNG
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ABS Opens LNG Academy in Qatar
American Bureau of Shipping (ABS) has inaugurated the ABS Global LNG Academy, a cutting-edge training center dedicated to…
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Fratelli Cosulich Inks Charter Deal for LNG Bunkering Vessel
Italian shipowner Fratelli Cosulich and PETCO Trading Labuan Company Limited (PTLCL), a trading arm of Malaysian energy company Petronas…
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Wärtsilä’s Inks Deal for Supplies on Four new LPG Ships
Wärtsilä will supply the cargo handling and fuel supply systems for four new 40,000 m3 gas carrier vessels. The ships are…
Renewables
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India's Apollo Green Energy plans a solar module plant and targets an IPO in 2025.
The chief executive of India's Apollo Green Energy said that the company, which is an engineering and construction company…
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The price of VEGOILS - Palm has fallen due to profit taking before the GAPKI conference
Malaysian palm futures declined on Tuesday, after four sessions of gains. Profit taking was a factor in the decline. This…
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Sweden rejects 13 Baltic Sea Wind Farms, citing defense concerns
The Swedish government announced on Monday that it has rejected 13 applications for offshore wind farms to be built in the…
Technology
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Alphabet Winds Down Makani
Alphabet, Google's parent company, announced that it is calling it quits on its efforts to build and monetize its Makani…
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CMA CGM Joins Energy Observer in Hydrogen Project
French shipping giant CMA CGM is joining forces with Energy Observer within a project focusing on testing the potential of…
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Toshiba Delivers Fuel Cell System to Ship
The provider of energy industry solutions Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that the…
Legislation
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US Prepares Renewal of Chevron's Venezuela License Without Broader Terms
The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp's license to operate in Venezuela…
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New York City Sues Exxon, BP, Shell Over Climate Change
New York City on Thursday sued three major oil companies and the top industry trade group in state court, arguing that the…
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Biden to Target Drilling, Fossil Fuel Subsidies in New Climate Orders
President Joe Biden was set on Wednesday to sign executive actions to combat climate change, including pausing new oil and…