Japan’s liquefied natural gas inventories dropped to the lowest level in over a year-and-a-half and could push the nation’s utilities to buy more fuel ahead of winter. Storage held by Japan’s power suppliers fell to 1.62 million tons as of Sept. 17, according to data compiled by the trade ministry. …
Read More »TotalEnergies Plans Jumbo Green Hydrogen Tender to Cut Emissions
TotalEnergies SE is launching a “massive” green hydrogen tender to reduce the carbon emissions of its six European refineries and two French biofuel plants as pressure mounts on the industry to fight climate change. The French energy giant plans to replace the entire 500,000 tons of gray hydrogen used annually …
Read More »European Gas Holds Gains as Australia LNG Strikes Escalate
European natural gas prices held gains as escalating strikes in Australia add to concerns about supply disruptions from Norway and a major export facility in the US. Benchmark futures rose as much as 3.2% on Thursday, after jumping to the highest in over two weeks in the previous session. Liquefied …
Read More »Europe’s Gas Price Premium for November Makes Hoarding Lucrative
A higher natural gas price in Europe in November is making it lucrative to hold back supplies for a month until the arrival of lower temperatures can boost profits. Futures for November are about €10 euros a megawatt-hour more expensive than gas delivered next month, with no other contract this …
Read More »Chinese Solar Firm Eyes Saudi Arabia for First Foreign Plant
China-based solar sector supplier GCL Technology Holdings Ltd. is in advanced talks with Saudi Arabia about opening its first overseas factory as the nations aim to extend their energy ties beyond oil. The world’s second-largest manufacturer of polysilicon, a key ingredient in solar panels, is looking to build a plant …
Read More »Bloomberg Predicts Peak Oil Demand in 2027
A couple of weeks ago, the International Energy Agency reported that global oil demand reached an all-time high of 103mn barrels a day in June. According to the global energy watchdog, robust demand was driven by better than expected economic growth in OECD countries, surging oil consumption in China, particularly …
Read More »Sinopec Profits Shrink as Economic Woes Weigh on Fuel Demand
Sinopec’s first-half profits shrank amid lower oil prices and fuel demand being weighed down by China’s sluggish economic recovery. China Petroleum & Chemical Corp., as it’s officially known, posted net income of 36.12 billion yuan ($4.96 billion), according to international financial reporting standards. That compared with a revised 44.8 billion …
Read More »Oil Falls for Third Day on Demand Woes before U.S. Stockpile Data
Oil fell for a third day as a hastening downturn in the euro area added to wider worries about economic growth in top importer China. West Texas Intermediate futures for October fell toward US$79 a barrel. The contraction in euro-area private sector activity intensified in August, while manufacturing remained in …
Read More »European Gas Prices Soar on Australia LNG Workers’ Ultimatum
European natural gas prices jumped as workers serving a key export project in Australia prepare for a strike that could put a significant dent in global supplies in the run-up to winter. Disruptions in Australia risk impacting 10% of global liquefied natural gas exports, a prospect that has kept European …
Read More »Europe Gas Set for Third Weekly Gain on Australia Strike Jitters
European natural gas futures headed for a third weekly gain as concerns over potential strikes in Australia inject renewed volatility into the market. The possibility of walkouts at three liquefied natural gas facilities operated by Chevron Corp. and Woodside Energy Group Ltd. has taken center stage in recent days, as …
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