Energy Suppliers News

A state actor's involvement in the blast of the Nord Stream pipelines last year is the "absolute main scenario", though confirming identity will prove difficult, the Swedish prosecutor investigating the attack said on Thursday.In September 2022, several unexplained underwater explosions ruptured the Nord Stream 1 and newly-built Nord Stream 2 pipelines that link Russia and Germany across the Baltic Sea. The blasts occurred in the economic zones of Sweden and Denmark and both countries say the explosions were deliberate, but have yet to determine who was responsible.

Greece can cope well with potential cuts in Russian gas supply due to the availability of liquefied natural gas (LNG) as an alternative, its energy minister said on Monday after a meeting with energy suppliers and grid operators on energy security.The country relied on Russian gas via the TurkStream pipeline for 40% of its needs last year. About 70% of its gas imports are used in power generation.Russian gas flows to Europe via Ukraine and the Nord Stream 1 pipeline have fallen this year after Russia's invasion of Ukraine in February and Europe’s moves to impose sanctions on Moscow…

Hurricane Ida pummeled U.S. Gulf Coast energy suppliers, knocking out most of the region's offshore wells and nearly half its motor fuel production and drove prices broadly higher.The storm crashed on Sunday into the Louisiana coast, tearing through U.S. offshore oil and gas fields with 150 mile per hour (241 kph) winds and pushing up to 12 feet (3.7 meters) of water ashore. More than 620,000 homes and businesses in Louisiana were without power.Production losses - including at six Gulf Coast refineries - will lift retail gasoline prices by 5 to 10 cents a gallon, said tracking firm GasBuddy.

Global energy company E.ON has signed an agreement to purchase clean energy from British wind farms of RWE Renewables.The 2.5-year agreement is on purchasing the output of more than 20 British wind farms, supplying sustainable power to the grid and supporting E.ON’s commitment to provide 100% renewable power for its UK customers.With this power purchase agreement (PPA) E.ON buys around 3TWh of power annually from wind farms around Great Britain which are operated by RWE. It covers a capacity of 892MW of onshore and offshore wind generation and includes a proportion of the London Array, currently the world’s second largest offshore wind…

Egypt launched the world's biggest tender for liquefied natural gas (LNG) as officials from top energy companies and trading houses converged on Cairo undeterred by new rules that could force them to wait for as long as six months to get paid. After months of speculation and delay, state-run Egypt Natural Gas Holding (EGAS) released tender documents on Sunday bidding to secure 96 LNG shipments in 2017 and 2018, participants in the tender told Reuters. An additional 12 optional cargoes were included in the tender, which EGAS may decide not to award, they said. At a price-tag of several billion dollars, it is the biggest mid-term LNG buy tender ever issued, trade sources said.

DNV GL adds to its service offering  offers in the field of electrical measurement for renewable energy producers with a mobile test laboratory for carrying out “Over Voltage Ride Through” (OVRT) tests. The first measurements have now been successfully started for a major German wind turbine manufacturer at the North German wind turbine test facility Janneby. Further projects have already been commissioned by some well-known turbine manufacturers. The test unit is designed for use in the medium voltage grid, implementing the topology suggested in the relevant standards. In Germany the latest regulations specify that all local energy suppliers must comply with the Over Voltage Ride Through requirements.

Rosneft and BP signed an agreement on Saturday to jointly explore for hard-to-recover oil in Russia, the first major deal for the state-run Russian oil company since the West imposed sanctions over Ukraine in March. Rosneft chief executive Igor Sechin, a close ally of President Vladimir Putin, has been targeted by U.S. sanctions along with some other members of Putin's so-called inner circle following Russia's annexation of Crimea from Ukraine in March. Western energy bosses saved the St Petersburg International Economic forum from a complete failure by effectively standing by Russia as heads of top banks and many other firms did not show up for fear of reprisals over the sanctions.

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI) announced today that as part of its efforts to build upon the company’s strengths and expand its business reach, it has promoted various Chemoil veterans and brought in experienced top talent to help lead the company towards sustainable growth. Tom Reilly, who was appointed Chemoil’s new CEO in January 2011, said “Chemoil is entering the next phase of growth and I am excited to be working with a new talented management team that comprises not only of dedicated employees whose commitment help make Chemoil one of the leading energy suppliers today…

According to Bloomberg, OAO Lukoil, Russia's largest oil producer, and China National Petroleum Corp. will cooperate on oil and gas production abroad and supplying hydrocarbons to China. The partners will also consider ``opportunities to cooperate on supplying oil and gas to China and refining hydrocarbons'' in the country, according to Lukoil. China, the world's second-largest energy user, is seeking energy supplies as its economy expands at an annual rate of 11.9 percent, the fastest pace in more than a dozen years. The leaders of China and Kazakhstan, the second-biggest energy suppliers in the former Soviet Union after Russia, last month agreed to finance and build a network of pipelines to supply China with oil and gas from the Caspian Sea region.

"A massive decrease in the number of tanker operators is highly likely in the future as oil companies become increasingly exposed to liabilities related to their transport supply chain," Dimitris Lyras, advisor to the board of Ulysses Systems, told delegates at yesterday's Tanker Operations Conference in London. Oil companies must make sure that their transport supply chain stands up to scrutiny in any eventuality, Lyras asserts, otherwise they risk enormous penalties in public perception and stock valuation. An oil major's liability for an oil spill is far greater than the cleanup and claimant compensation, the real cost is from damage to their long-term image and reputation as responsible energy suppliers.