At least six Asian economies have expressed interest in buying liquefied natural gas (LNG) to narrow their trade deficit with the United States and fend off tariffs, while others look to expand and diversify supplies. Companies in the U.S., the world's largest exporter of LNG, are pushing ahead with projects for new or expanded export capacity after the Trump administration in January lifted a moratorium on new LNG export permits. Trump's decision could pave the way for almost 100 million [Read more]
Activist Elliott builds over $2.5 billion stake in Phillips 66, WSJ reports
Activist Elliott Investment Management has built an over $2.5 billion stake in U.S. oil refiner Phillips 66 and plans to push for operational changes to boost its stock price, the Wall Street Journal reported on Monday. Elliott plans to push Phillips 66 to sell or spin off its big midstream business as it plans to seek a number of changes in a bid to simplify the company, the report said, citing people familiar with the matter. Last year in March, Elliott accepted the performance [Read more]
Discount on Western Canada Select heavy crude narrows
The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) narrowed on Monday: * WCS for March delivery in Hardisty, Alberta, settled at $13.20 a barrel under WTI, according to brokerage CalRock, having ended at a $13.50 discount on Friday. * Canadian heavy crude prices have so far held up well in the face of U.S. President Donald Trump's tariffs plan, analysts said. * Trump paused his plan to impose a 10% levy on [Read more]
Recent cold snap lead to fourth-largest natgas storage withdrawal, US EIA says
The United States saw the fourth-largest weekly withdrawal from natural gas storage during mid-January as colder-than-normal temperatures boosted consumption, the U.S. Energy Information Administration (EIA) said on Monday. During the week ending January 24, 2025, stocks fell by 321 billion cubic feet (bcf), which was nearly 70% more than the five-year (2020–24) average withdrawal for the same week in January, the EIA said. With withdrawals in January totaling nearly 1,000 bcf, U.S. [Read more]
Bernstein sees modest pullback in upstream capex in 2025
** Bernstein sees a very modest pullback of nearly $5 billion in upstream capex in 2025 ** "We see an upstream sector that returns a bit over half its cash flow while investing a bit under half" - brokerage ** Bernstein says that the supply side has reallocated capital toward downstream, renewables, trading, and cash returns to shareholders, more rapidly than the pace at which the demand side is transitioning to new energy sources ** Brokerage expects upstream spend declining ~1% to [Read more]
Indian oil companies in talks to buy U.S. LNG supplies
Indian oil companies are looking to buy U.S. liquefied natural gas (LNG), buoyed by the Trump administration's lifting of a ban on export permits for new projects, Oil Secretary Pankaj Jain said on Monday. The world's fourth largest importer of LNG, India aims to raise the share of gas in its energy mix to 15% by 2030 from 6.2% now. "Indian oil companies are talking to U.S. companies for additional LNG sourcing," Jain said, adding that among such companies were GAIL (India) Ltd, Indian Oil [Read more]
Oil climbs as investors weigh new US tariffs
Oil prices ticked higher on Monday even as investors weighed U.S. President Donald Trump's latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand. Brent crude futures climbed 51 cents, or 0.7%, to $75.17 a barrel by 0444 GMT while U.S. West Texas Intermediate crude was at $71.45 a barrel, up 45 cents, or 0.6%. The market posted its third consecutive weekly decline last week on concerns about a global trade war. Trump [Read more]
Taiwan looks to buy Alaskan natural gas as it seeks to head off US tariffs
Taiwan is interested in natural gas from Alaska and will continue to assess the feasibility of purchases, the economy ministry said on Monday, as the government looks to narrow the trade surplus with the United States and head off tariffs. U.S. President Donald Trump said on Friday he plans to announce reciprocal tariffs on many economies by this week, a major escalation of his offensive to reshape global trade relationships in ways he considers to be in America's favour. Taiwan runs a [Read more]
China to roll back clean power subsidies after boom
China's top economic planning agency said on Sunday it was taking steps to scale back subsidies for renewable energy projects after a boom in solar and wind power installations. China broke its own records for new solar installations in 2024 with installed capacity up 45% from the previous year. China now has almost 887 GW of installed solar power, more than six times the capacity of the United States, according to data from the International Renewable Energy Agency. The surge in [Read more]
Activist Elliott builds stake in oil major BP, source says
Activist investor Elliott Investment Management has built a stake in oil major BP, a source familiar with the matter told Reuters on Saturday. The source did not provide the size of the stake. U.S.-based Elliott is seeking to boost shareholder value by urging BP to consider transformative measures, Bloomberg News reported earlier on Saturday, calling Elliott's stake in the company "significant." Elliott and BP declined to comment. The activist investor sees BP as undervalued, [Read more]
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