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OPEC+ Has Oil Price and Demand Problems. It Should Solve Demand
OPEC+ has two problems and two solutions.The first problem is that crude oil prices are too low for the comfort of most of the members of the group, which pulls together the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia.The second issue is…
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Germany Preps for More FSRU Vessels
Germany is expanding its natural gas import options to replace Russian supply. Following are updates on key facilities and terminals being developed to host floating storage regasification units (FSRUs) to receive seaborne liquefied natural gas (LNG). Plans also include shore-based…
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No Subsidies, No Bids: Denmark Largest Offshore Wind Tender Falls Flat
In the wake of Donald Trump's election as U.S. President, all eyes have been trained on the U.S. Offshore Wind market and future, with his promise to stifle the U.S. Offshore Wind market in favor of oil and gas. But a recent lackluster performance from a leading Scandinavian country…
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OPEC+ Passes on Oil Output Increase, Weighs the "Trump Effect"
It was likely a fairly easy decision for OPEC+ to once again delay plans to increase oil output.The soft state of global demand is by itself sufficient reason to justify the decision at this week's meeting of the group to defer winding back some of its production cuts until at least…
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Alaska sues Biden Administration over ANWR Leases
The U.S. state of Alaska has sued the Biden administration for what it calls violations of a Congressional directive to allow oil and gas development in a portion of the federal Arctic National Wildlife Refuge (ANWR).Monday's lawsuit in the U.S. District Court in Alaska challenges…
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OMSI to Oversee Submarine Cable Installations for Belize's Energy Infrastructure
Offshore Marine Subsea International (OMSI), a UK-based leader in subsea services and a subsidiary of Offshore Marine Management…
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US LNG Export Dominance Tested as Europe's Demand Wilts
The United States has remained the largest exporter of liquefied natural gas (LNG) so far in 2024, but a steep drop in selling…
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How Trump will try to undo Biden's environmental legacy
Donald Trump, the presidential hopeful, has outlined an energy policy that focuses on maximizing U.S. power and fuel output.
Latest news
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Cyprus and Chevron led group agree on updated offshore field plan
Cyprus and the Chevron-led group have reached an agreement on a new development plan for an offshore gas field near Cyprus.
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US drillers added oil and gas drilling rigs in the third week of a row, according to Baker Hughes
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive…
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Enel extends its geothermal licenses in Tuscany, Italy to 2046
Three sources confirmed on Friday that the Italian region Tuscany will extend Enel’s geothermal energy licenses by 20 more years…
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Schedule for US Energy Data in the week of February 16
The Presidents Day federal holidays on Monday, February 17, will impact the release schedule for some major energy data that…
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Breakaway Moldovan Region claims it received gas supplies backed up by Russian loan
Separatist authorities announced on Friday that the pro-Russian Transdniestria region of Moldova, which is a breakaway region…
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Brazil resumes hydropower exports to Argentina and Uruguay with the aim of increasing flow
Industry officials have confirmed that Brazil is resuming energy exports from its hydroelectric plants to Argentina and Uruguay…
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Peru Copper Production to Decline in 2024 from 2.74 Million Tons
The Peruvian mining ministry announced on Friday that copper production in 2024 will be 2,736,150 tons, a 0.7% decrease from 2023.
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IEA: Global electricity demand will grow by 4% until 2027
The IEA released a report Friday that predicted the global electricity demand to increase by 4% – or more than Japan's total…
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Experts say that Russia is struggling to meet its LNG targets
Experts said that due to the international sanctions, Russia's LNG exports will probably not reach 67 million tons by 2030.
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Aker BP's top shareholder claims that the company has opportunities for acquisition.
Aker BP is a Norwegian oil exploration and production firm that was formed through a series mergers and purchases in the past decade.
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Glencore rejects an approach to its DRC operations in the last year
Glencore, a commodity and mining trader, said that it rejected a non-invited approach by an unknown buyer at the end of the…
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TSX futures flat amid US tariffs uncertainty
The futures linked to Canada's major stock index were tepid on Friday as investors awaited further details about U.S. tariffs.
Offshore Oil & Gas
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RODA responds to Trump EO on Offshore Wind & Permitting
The Responsible Offshore Development Alliance (RODA) extends gratitude to President Trump for his decision to temporarily…
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European firms exposed as Trump targets US offshore wind
U.S. President Donald Trump in his first day of office on Monday suspended new federal offshore wind leasing pending an environmental…
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Oil Dips on Larger US Crude Draw, Russia Sanctions
Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on U.S. President Joe Biden's latest…
Shale Oil & Gas
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EUROPE GAS - Dutch benchmark falls to two-week low due to weather, storage hope and peace talks
The benchmark Dutch Gas Contract fell on Friday, to its lowest level in over two weeks. This was due to forecasts for milder…
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Wood Group shares in the UK fall 30% after a negative cash flow forecast
John Wood Group shares fell 30% in the early trading of Friday, after the British engineering company announced that its…
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Trump announces that the US will increase its military sales to India and eventually provide F-35 Jets
Donald Trump, the U.S. president, said that the United States would increase its military sales to India beginning in 2025.
LNG
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Trump's complaint about the trade deficit with EU and what could come next
Donald Trump, President of the United StatesTrump has pledged to reduce a long-standing trade deficit between the United…
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US NatGas Demand Could Hit Record High
U.S. spot natural gas and power prices soared to multi-year highs in several parts of the country with extreme cold expected…
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US NatGas up as LNG feedgas rises, Frigid Temps Forecast
U.S. natural gas futures edged up about 1% on Thursday on near record flows to liquefied natural gas (LNG) export plants…
Renewables
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Officials in Malaysia have announced that they will take action against fraud in the export of used cooking oil.
Malaysia's deputy commodities minister said that it would crack down on fraud within the used cooking oil sector, while western…
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Palm production drops, resulting in a fourth-week gain.
Malaysian palm futures increased on Friday as lower inventories supported the market, despite concerns about demand and uncertainty…
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IEA: Global electricity demand will grow by 4% until 2027
The IEA reported on Friday that the global electricity demand will grow more than Japan's total annual consumption through 2027.
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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VLCC Rates Spike as US Sanctions Bite
Supertanker freight rates jumped after the U.S. expanded sanctions on Russia's oil industry, sending traders rushing to book…
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USDoI: ANWR Drilling Auction Yields no Bids
The U.S. Interior Department said on Wednesday that a congressionally mandated oil and gas drilling lease auction in Alaska's…
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Additional Sanctions Possible for Russian Oil tankers
The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues…
