Trump Wants to Resurrect Keystone XL
Thursday, November 21,2024,08:38
President-elect Donald Trump intends to revive the construction of the Keystone XL pipeline on his first day in office—just like President Biden shut it down on his first day in office. A Politico report citing unnamed sources with knowledge of the situation said that the president-elect’s transition team was discussing Keystone XL with a view to bringing it back to life. “It’s on the list of things they want to do first day,” one of the Politico sources said. The 1,200-mile pipeline, developed by TC Energy, was supposed… .. read more..
Worley wins almost 1500 contracts in just three months
Thursday, November 21,2024,08:27
Sustainability-related awards outnumber traditional project scopes more than two to one .. read more..
Subsea7 posts ‘strong’ third-quarter results in ‘robust’ market - beats expec...
Thursday, November 21,2024,08:24
Profit and revenue surge in thriving oil, gas and renewables sectors .. read more..
Hanwha Ocean to take over Dyna-Mac in compulsory acquisition
Thursday, November 21,2024,07:57
South Korean offshore and marine heavyweight closes offer for Singapore’s topsides modules specialist .. read more..
Subsea 7 posts 'strong' third-quarter results in 'robust' market
Thursday, November 21,2024,07:44
Profit and revenue surge in thriving oil, gas and renewables sectors .. read more..
Exxon Quits Suriname Oil Block
Thursday, November 21,2024,07:38
Exxon has decided to pull out of an exploration block offshore Suriname and transfer its 50% stake to partner Petronas, the Suriname state oil company Staatsolie said in a news release. The exit is part of Exxon’s ongoing asset evaluation, Staatsolie said, adding that after the transfer, Petronas will remain the single owner of the exploration rights to Block 52. The contract for exploration in Block 52 was inked back in 2013. Exxon and Petronas struck gas in the block in 2020 but the volume discovered was deemed commercially unattractive.… .. read more..
$23 billion sell-off: Asian billionaire's group stocks sink following charges...
Thursday, November 21,2024,06:32
Shares of Adani Total Gas, Adani Energy Solutions, Adani Port and flagship Adani Enterprises plunged on Indian stock exchanges on Thursday following his indictment in the US court .. read more..
‘Future-proof’: Technology provider aims to be catalyst for oil and gas giant...
Thursday, November 21,2024,04:59
Johnson Matthey technologies are 'the clever bit in between' fossil fuel producers' raw materials and their clean hydrogen and sustainable fuel aims .. read more..
Norway player wins ‘very important’ contract to build five offshore vessels
Thursday, November 21,2024,04:54
Vard will build the 'walk'to-work' units at its yard in Vietnam .. read more..
Petronas, Velesto and NOV team up on drilling rig automation and robotics
Thursday, November 21,2024,04:52
Novel technologies to be deployed to reduce emissions and achieve cost efficiency .. read more..
The Oil Market Surplus May Be Smaller Than Feared
Thursday, November 21,2024,01:00
Oil market forecasters such as the International Energy Agency (IEA) may have been too pessimistic about supply-demand balances in their latest assessments, which show a large surplus for 2025. Actual global oil inventory trends in the third quarter look much more bullish than the IEA’s balances and projections, the agency’s latest oil market report showed. Stock draws have accelerated in recent months, with withdrawals bigger than previously expected, leaving a large gap of “unaccounted for”, or “missing… .. read more..
Billionaire Gautam Adani charged in New York with massive fraud, bribery scheme
Thursday, November 21,2024,00:27
Gautam Adani and others are accused in the New York indictment of paying Indian government officials $250 million to secure solar energy supply contracts. .. read more..
CM Naidu fulfills promise: Rs 60k cr BPCL project to come up near Andhra port
Thursday, November 21,2024,00:00
The refinery project is a big win for N Chandrababu Naidu, whose Telugu Desam Party (TDP) provides crucial support to the Bharatiya Janata Party-led National Democratic Alliance (NDA) government at the Centre. It headed Naidu’s agenda when he met the Prime Minister on his first visit to New Delhi on July 5 after being sworn in as chief minister. .. read more..
This Little-Known Metal Just Exploded 200%, Here are 2 Ways To Play It
Thursday, November 21,2024,00:00
Antimony, a silvery-white metalloid, might not be a household name, but it plays a crucial role in our modern world. It's a key ingredient in military tech, batteries, and semiconductors.And now, a global antimony crisis may be looming as demand far outstrips supply... This obscure metal has become a strategic linchpin in modern warfare – and right now, China holds all the cards.And today, we're looking at two companies that could help the West break free from China's stranglehold on this key resource.#1 Military Metals (CSE: MILI,… .. read more..
Hanwha Ocean to compulsorily purchase Dyna-Mac
Wednesday, November 20,2024,23:12
South Korean offshore and marine heavyweight closes offer for Singapore’s topsides modules specialist .. read more..
Is The U.S. Going To Bring This Multi-Billion Iraq Project To Fruition?
Wednesday, November 20,2024,23:00
Among the many projects in Iraq’s energy sector that could each make it much-needed billions of dollars a year in profits, the Nebras Petrochemical Plant is around the top of the list in terms of its potential. British supermajor Shell signed the original memorandum of understanding to develop the idea back in 2012 and then signed the official deal to do so in January 2015, with high hopes on both sides for the project. For Shell, it would offer the opportunity to build out its then-upstream operations in Majnoon and West Qurna 1 into a flagship… .. read more..
Billionaire Gautam Adani charged in New York with massive fraud, bribery
Wednesday, November 20,2024,22:35
Gautam Adani and others are charged in the New York indictment with paying Indian government officials $250 million to secure solar energy supply contracts. .. read more..
Small-scale LNG on the radar to exploit Aceh gas discoveries
Wednesday, November 20,2024,22:27
Conrad Energy Asia and PGN to mature liquefied natural gas project .. read more..
Aramco delays bid process for prized deal on $100 billion-plus development
Wednesday, November 20,2024,22:26
Jafurah development is likely to be worth more than $100 billion and is strategic to Saudi ambitions to scale up gas production .. read more..
Oil majors are betting big on biofuels with over 40 projects by 2030, Rystad ...
Wednesday, November 20,2024,22:00
Major oil and gas companies have ramped up investments in the biofuels sector, betting on sustainable aviation fuel (SAF), with 43 projects expected to be up and running by 2030, consultancy Rystad said in a report. The energy research firm indicates that investments by industry giants such as ExxonMobil (XOM.N), opens new tab, Chevron (CVX.N), ... .. read more..
Asia Naphtha/Gasoline-Gasoline margins at two-week high, naphtha crack extend...
Wednesday, November 20,2024,22:00
Asia’s gasoline margins rose for the fourth consecutive session on Wednesday as demand increased with regional refineries returning online after their turnarounds. The crack climbed to $5.79 per barrel over Brent crude, its highest since Nov. 6. Naphtha crack improved to a one-week high of $90.43 per metric ton over Brent crude, its highest since ... .. read more..
North Dakota oil production hits 5-month high in Sept, state regulator says
Wednesday, November 20,2024,22:00
Oil production in North Dakota, the third-largest producing state in the U.S., rose by 20,000 barrels per day (bpd) to 1.2 million bpdin September, monthly data from the state’s Industrial Commission showed on Tuesday. September’s production was the highest since April but will likely outpace October’s output, after wildfires crossed into key producing counties last ... .. read more..
Natural gas to play a key role in Southeast Asia’s energy transition: PVEP
Wednesday, November 20,2024,22:00
Natural gas will play a key role as a transitional energy source in Southeast Asia, given the high costs and regulatory complexities in adopting renewables, PetroVietnam Exploration Production Corporation (PVEP) said Nov. 19 at OSEA in Singapore. “In terms of cost, offshore wind, for example, now is significantly higher than traditional gas-powered electricity,” said its ... .. read more..
Brazil’s Petrobras looking for opportunities to invest in Argentina’s oil and...
Wednesday, November 20,2024,22:00
Brazil’s state-run oil giant Petrobras is looking at opportunities to invest in Argentina, potentially in the Vaca Muerta shale play, nearly a decade after pulling out of the country, Brazil’s ambassador said Nov. 19. Petrobras has “a strong interest to return to Argentina,” Julio Glinternick Bitelli, Brazil’s ambassador to Argentina, said at the Forbes Energy ... .. read more..
US LNG feedgas on track for 10-month high as flows rise to Louisiana Plaquemi...
Wednesday, November 20,2024,22:00
The amount of gas flowing to the seven big operating U.S. liquefied natural gas (LNG) export plants was on track to rise to a 10-month high on Wednesday, according to data from financial firm LSEG. Feedgas was up in part as flows to Venture Global LNG’s Plaquemines plant in Louisiana were on track to rise ... .. read more..
Prices little changed amid stable supply
Wednesday, November 20,2024,22:00
Dutch wholesale prices were little changed on Wednesday morning amid stable supply. The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 inched up by 0.19 euro to 46.20 euros per megawatt hour by 1023 GMT, LSEG data showed. The January price was 0.27 euro higher at 46.52 euros/MWh. The British day-ahead contract was 0.75 ... .. read more..
Norway’s overall oil, gas output beats forecast in October
Wednesday, November 20,2024,22:00
Norway’s combined oil and natural gas production exceeded an official forecast by 5% in October, the Norwegian Offshore Directorate (NOD) said on Wednesday. Norway is Europe’s largest supplier of natural gas and a major producer of oil, but output varies from month to month depending on maintenance needs and other stoppages at more than 90 ... .. read more..
US crude, gasoline inventories rise, distillates draw down, EIA says
Wednesday, November 20,2024,22:00
U.S. crude oil andgasoline inventories last week rose more than forecast, whiledistillate stockpiles posted a larger-than-expected draw, the Energy Information Administration said on Wednesday. Crude inventories rose by 545,000 barrels to 430.3 million barrels in the week ended Nov. 15, the EIA said, compared with analysts’ expectations in a Reuters poll for a 138,000-barrel rise. ... .. read more..
Asia Distillates-Window trades upbeat; cash premiums extend weakness
Wednesday, November 20,2024,22:00
Asia’s middle distillates markets continued to see a slew of window trades for mid-December, with spot refiner sales still underway, though spot premiums extended its downtrend. Expectations of more demand for December resurfaced after talks of one regional refinery having troubles were in the market, though further details could not be confirmed. On the sales ... .. read more..
European gas-for-power demand to drop this winter despite rare November rise
Wednesday, November 20,2024,22:00
Europe is set to burn less gas for power generation this winter despite strong gains in early November due to low wind power, S&P Global Commodity Insights analysts said Nov. 19. The region’s five biggest power markets are forecast to see a 6% year-over-year decline in generation from combined cycle gas plants versus last winter ... .. read more..
What’s driving decreasing gasoline consumption in China?
Wednesday, November 20,2024,22:00
Gasoline consumption in China has begun to fall in recent months amid increased sales of electric vehicles, slow economic growth, and population decline. We estimate gasoline consumption in China averaged 3.2 million barrels per day (b/d) in August 2024, 14% less than in August 2023. The trend continued in September and October, which were down ... .. read more..
Expect a US LNG Boom in the Second Half of 2025
Wednesday, November 20,2024,22:00
The future of the United States natural gas sector hangs in the balance as a cluster of competing variables cloud the crystal ball. The upcoming regime change in the United States is certain to significantly reshape domestic production, consumption, and export trends but myriad global factors make exact projections tricky. U.S. exports of liquefied natural gas have slowed a bit this year after the Biden administration pumped the brakes on the sector’s previously breakneck growth. In 2023, the United States became the world’s biggest… .. read more..
Fed Rate Cuts Ignite Construction Boom
Wednesday, November 20,2024,21:00
Via Metal Miner The Construction MMI (Monthly Metals Index) managed to break out of its sideways trend, moving up by 6.73%. Construction news indicates that the market could see more bullish sentiment if the Fed continues its dovish stance on interest rates, dropping them steadily (get weekly updates on macroeconomic news impacting your metal buy with our weekly newsletter). However, companies should remain wary of potential tariffs coming from the new Trump administration in the upcoming years. If they come to fruition, they could add long-term… .. read more..
US LNG Feedgas On Track For 10-Month High
Wednesday, November 20,2024,21:00
The volume of natural gas flowing to the United States' seven liquefied natural gas (LNG) export plants was on track to hit a 10-month high on Wednesday, according to data from financial firm LSEG. The surge in feedgas was partly chalked up to flows to Venture Global LNG's Plaquemines plant in Louisiana as the company tests equipment at the plant. Plaquemines is set to become the country's eighth big LNG export plant once it starts producing LNG, which analysts have said could happen any day now. Last year, the U.S. became the world’s largest… .. read more..
European Security Threatened by Escalating Hybrid Warfare
Wednesday, November 20,2024,20:00
European government and the United States have accused Russia of intensifying "hybrid attacks" following reports that Baltic Sea fiber-optic communications cables were damaged by suspected sabotage, although they have not yet directly tied Moscow to the damage. Moscow has long denied it is involved in sabotaging Western infrastructure to punish European countries for their assistance to Ukraine's defense, but suspicions grew in Western capitals on November 19 that damage to two key Baltic Sea cables were likely the result of deliberate actions.… .. read more..
Morgan Stanley: U.S. Nat Gas Poised For New Demand Growth Phase
Wednesday, November 20,2024,19:30
The U.S. natural gas market is poised to enter a new cycle of demand growth thanks to surging LNG exports and rising electricity demand, Morgan Stanely has predicted. Over the past few years, dozens of pundits and industry experts have predicted that the ongoing Fourth Industrial Revolution will drive unprecedented electricity demand growth in the United States and globally. Last year, the power sector consulting firm Grid Strategies published a report titled “The Era of Flat Power Demand is Over,” which pointed out that United… .. read more..
Big Oil Pours Billions into Biofuel Production to Meet Decarbonization Goals
Wednesday, November 20,2024,19:00
Under increasing pressure to decarbonize and shift away from traditional fossil fuels, the world’s leading oil and gas companies are ramping up investments in the biofuels sector. Major players such as BP, Chevron, Shell, TotalEnergies, ExxonMobil and Eni are incorporating biofuels into their broader energy transition strategies, recognizing the growing global demand for sustainable fuel sources. According to Rystad Energy’s research, these six oil majors have announced a total of 43 biofuel projects that are either already operational… .. read more..
Korba to get NTPC-BHEL's 800 MW hi-tech power plant
Wednesday, November 20,2024,18:49
NTPC and BHEL are considering Korba, Chhattisgarh, as the location for India's first 800-MW advanced ultra-supercritical (AUSC) power plant. The estimated cost for the high-efficiency plant is ₹15,000 crore. The final decision will follow feasibility studies and approvals from relevant ministries. This indigenous technology promises higher efficiency and reduced emissions compared to existing power plants. .. read more..
UK Considers $10-Billion Fund to Help Net-Zero Power System Goals
Wednesday, November 20,2024,18:30
The UK’s energy regulator Ofgem on Wednesday launched a consultation on a proposal to set up a new investment fund of up to $10.1 billion (£8 billion) that would help energy transmission owners to fast-track projects and control costs. Ofgem’s consultation, which runs until December 18, is on a new investment fund worth between $6.3 billion (£5 billion) and $10.1 billion (£8 billion), also as part of a push to “beat other nations to attract international investment in the drive to net zero,” the regulator… .. read more..
Middle East Crude-Dubai and Murban up; Oman flat
Wednesday, November 20,2024,18:00
Middle East crude benchmark spot premiums for Dubai and Murban rose on Wednesday, while that for Oman was unchanged for a second session. hai refiner IRPC bought five cargoes of Murban crude and one cargo of Qatar Land crude, all for January loading, trade sources said on Wednesday. SINGAPORE CASH DEALS Cash Dubai’s premium to ... .. read more..
US natgas prices climb 4% to 5-month high on colder forecast, jump in LNG fee...
Wednesday, November 20,2024,18:00
U.S. natural gas futures climbed about 4% to a five-month high on Wednesday on forecasts for colder weather over the next two weeks than previously expected, which should cause utilities to start pulling gas out of storage to meet rising heating demand around the U.S. Thanksgiving day holiday next week. In addition, the amount of ... .. read more..
COP29: A Missed Chance for Climate Pragmatism
Wednesday, November 20,2024,18:00
Those who shout the loudest about climate change tend to have a disproportionate influence, but we’ll never solve this challenge without being realistic and practical, says Eliot Wilson There was a time when climate change – ”global warming” was the argot when I was young – was accepted by politicians as a major challenge. Margaret Thatcher gave an historic address to the United Nations General Assembly in 1989 in which she declared the threat “has grown clearer than any other in both urgency and importance –… .. read more..
Egypt Seeking Long-Term LNG Deals With U.S. Companies
Wednesday, November 20,2024,17:30
Egypt is currently in talks with U.S. and other foreign companies to purchase long-term volumes of liquefied natural gas (LNG) instead of relying on the more costly spot market, according to an exclusive Reuters report, as the country’s gas production continues to decline. "The ministry (of Petroleum) is seeking three or four years of supply to hedge from sudden price increases. It is also seeking to include a flexibility clause as the government hopes it could maybe find gas sooner or doesn't need that much gas," an industry source has told… .. read more..
US supermajor withdraws from Suriname offshore block
Wednesday, November 20,2024,17:24
ExxonMobil transfers Block 52 interest to Petronas .. read more..
Hess leader considers appeal of FTC order barring him from Chevron board: report
Wednesday, November 20,2024,17:24
John Hess blocked from US supermajor’s board after concerns over Opec communications .. read more..
Goldman says this uranium miner could rally on nuclear demand, low geopolitic...
Wednesday, November 20,2024,17:18
Uranium prices are expected to remain elevated as demand outstrips supply. .. read more..
Offshore Deepwater Drilling To Dominate Oil in 2020s
Wednesday, November 20,2024,17:00
About a month ago, news emerged that Seadrill and Transocean, the offshore drilling heavyweights, were discussing a merger aimed at capitalizing on a rebound in investments in the business. Soon after, Portugal’s Galp launched its second drilling campaign offshore Namibia after a huge discovery, and Suriname is about to become the second Guyana. Offshore is back—and it’s back to stay. Earlier this month, Wood Mackenzie reported that offshore drilling was going to increase significantly in the coming years, with production from… .. read more..
European Power Prices Surge to a 20-Month High
Wednesday, November 20,2024,16:30
As Europe is bracing for the winter, wholesale electricity prices have jumped in November to the highest level in 20 months, additionally burdening the key industries in major economies that had just started to recover from the 2022 energy crisis. Average wholesale base power prices in Germany, France, the Netherlands, Spain, and Poland have soared to their highest levels in at least 20 months so far this month, per power market data by LSEG, cited by Reuters columnist Gavin Maguire. Prices in Italy, Europe’s third-largest economy after Germany… .. read more..
FTX co-founder Gary Wang avoids prison time for role in crypto fraud
Wednesday, November 20,2024,16:03
Gary Wang was the fifth former FTX executive to be handed a punishment for his role in the collapse of the crypto exchange in late 2022. .. read more..
Oil Falls After EIA Confirms Small Crude Inventory Build
Wednesday, November 20,2024,15:36
Crude oil prices dipped today after the U.S. Energy Information Administration reported an inventory build of 500,000 barrels for the week to November 15. At the time of writing, Brent crude was trading at $73.26 per barrel, with WTI at $69.50 per barrel. The change compared with a build of 2.1 million barrels for the previous week, and another one, of 4.75 million barrels, estimated by the American Petroleum Institute for the week to November 15. Both last week’s EIA report and this week’s API report saw declines in fuel inventories,… .. read more..