BP said on Thursday it had safely loaded the first LNG cargo for export from Phase 1 of its Greater Tortue Ahmeyim project offshore Mauritania and Senegal as the UK supermajor continues to bring major projects on stream. First gas from the project was announced early this year. Now, the export of the first loaded LNG cargo from the project offshore West Africa will make Mauritania and Senegal LNG-exporting nations, contributing to global LNG supply. Phase 1 at Greater Tortue Ahmeyim (GTA) is set to produce around 2.3 million tons of LNG per year…

BP said on Thursday it had safely loaded the first LNG cargo for export from Phase 1 of its Greater Tortue Ahmeyim project offshore Mauritania and Senegal as the UK supermajor continues to bring major projects on stream. First gas from the project was announced early this year. Now, the export of the first loaded LNG cargo from the project offshore West Africa will make Mauritania and Senegal LNG-exporting nations, contributing to global LNG supply. Phase 1 at Greater Tortue Ahmeyim (GTA) is set to produce around 2.3 million tons of LNG per year…

South Korea will leverage shipbuilding capabilities and the potential to buy more U.S. LNG in upcoming talks on the tariffs next week, South Korea’s Foreign Minister Cho Tae-yul said on Thursday. The tariff on South Korea, which U.S. President Donald Trump announced on the so-called “liberation day” on April 2, was at 25%, lower than for some other Asian countries but much higher than a baseline 10% tariff. The so-called ‘reciprocal tariffs’ were suspended last week for 90 days, during which countries plan to plead…

Motiva Enterprises has finally restarted a gasoline-producing unit at its huge Port Arthur refinery in Texas, following several attempts at a restart in recent weeks after an overhaul. Motiva Enterprises, the owner of the second biggest refinery in the United States, has restarted operations at the gasoline-producing fluidic catalytic cracker (FCC) at Port Arthur, sources with knowledge of the plant’s operations told Reuters this week. The refinery’s FCC, which typically converts gas oil into unfinished gasoline, has a capacity of 81,000…

Motiva Enterprises has finally restarted a gasoline-producing unit at its huge Port Arthur refinery in Texas, following several attempts at a restart in recent weeks after an overhaul. Motiva Enterprises, the owner of the second biggest refinery in the United States, has restarted operations at the gasoline-producing fluidic catalytic cracker (FCC) at Port Arthur, sources with knowledge of the plant’s operations told Reuters this week. The refinery’s FCC, which typically converts gas oil into unfinished gasoline, has a capacity of 81,000…

Motiva Enterprises has finally restarted a gasoline-producing unit at its huge Port Arthur refinery in Texas, following several attempts at a restart in recent weeks after an overhaul. Motiva Enterprises, the owner of the second biggest refinery in the United States, has restarted operations at the gasoline-producing fluidic catalytic cracker (FCC) at Port Arthur, sources with knowledge of the plant’s operations told Reuters this week. The refinery’s FCC, which typically converts gas oil into unfinished gasoline, has a capacity of 81,000…

China has put an abrupt stop to a Russian proposal to export added volumes of natural gas eastward via Kazakhstan, deepening the financial woes of the erstwhile Russian energy behemoth, Gazprom. The Russian state-controlled entity, once a critical foreign policy instrument of the Kremlin, has been forced to abandon projects in Central Asia and Latin America recently due to a lack of fiscal muscle. Gazprom has been urgently looking east to add export volume after the dramatic loss of market share in Europe. One idea promoted by Gazprom representatives…

Oil prices have been on the mend this week after taking a dive following President Trump’s global tariff offensive launch. Yet they still have a long way to go to return to where they were just four months ago—and many oil-exporting countries can’t wait for this to happen. The question is, will it? For now, the situation does not look good for oil producers. The rebound in prices this week came as a result of indications that Trump was willing to consider some tariff exemptions for things like smartphones and semiconductors. It…

The Trump Administration insists that U.S. shale will survive lower oil prices and could work well and innovate further at current price levels of WTI crude prices of about $60 per barrel, and even lower.   The industry is not convinced. While public statements from the oil lobby and oil producers welcome President Donald Trump’s rollback of regulations and eased permitting processes, executives are privately fuming about the administration’s perceived target to bring oil prices down to $50 a barrel. Separately, the trade and tariff…

The idea of peak oil is familiar to most readers. It refers to the point at which global petroleum production reaches its maximum point and begins an irreversible decline. The concept was first introduced by M. King Hubbert in the 1950s. His theory proposed that oil production would follow a bell-shaped curve, with a peak representing the point at which half of the total recoverable reserves had been extracted. This prediction has been largely accurate, as we have witnessed a steady increase in global oil production followed by signs of plateauing…

US oil and gas operators have encountered an avalanche of economic policy changes from the Trump administration over the last week, creating market uncertainty in an already maturing industry. Rystad Energy expects onshore Lower-48 production will fall short of the record high output of 11.37 million barrels per day (bpd) of oil, achieved in November 2023, until at least June of this year. However, this outlook faces serious downside pressure should the recent price downturn hold, forcing operators to cut back on rig activity. Consistent returns…

Military leaders from several nations are quietly holding under-the-radar talks at the headquarters of the Turkish Navy in Ankara this week, focusing on Black Sea security in the event of a cease-fire between Russia and Ukraine. The meetings come days after two European diplomatic sources told RFE/RL that Turkey had declared it was willing to "assume responsibility for the maritime dimension" of a multinational military deployment in Ukraine. There are practical reasons for Turkey to do this. The 1936 Montreux Convention places strict limits on…

Grid connections for businesses delivering clean energy are to be prioritised, ministers have said. The government has said so-called ‘zombie projects’ which hold up the queue for National Grid connectivity are set to be axed from the waiting list. While industries including data centres and AI, wind energy and solar projects will be accelerated for grid connections, under plans by the Department for Energy Security and Net Zero (DESNZ), aimed at addressing the issue of firms waiting up to 15 years for connectivity. The move comes after…

Via Metal Miner   The Aluminum Monthly Metals Index (MMI) remained sideways, as most components appeared consolidated. Overall, the index slid 0.74%, while aluminum prices experienced continued instability. Aluminum Price Volatility After Tariffs Aluminum prices have appeared increasingly volatile since the announcement of tariffs. Prices plunged after reaching a mid-March peak, breaking below their sideways range. The implementation of tariffs saw prices lose support due to demand risks. Soon after, the announcement of reciprocal tariffs…

Crude oil edged more than 2% higher on Wednesday, driven primarily by hopes that tensions will ease in the U.S.-China trade conflict and U.S. inventory data.  At 1:28 p.m. ET, Brent crude was trading up 2.09% at $66.02, while the U.S. benchmark, West Texas Intermediate (WTI), was trading up 2.12% at $62.63. A weaker U.S. dollar, bullish inventory data, and renewed hopes for easing U.S.-China trade tensions are all boosting crude today, particularly following a Bloomberg report suggesting China may be open to trade talks—pending specific…

Crude oil edged more than 2% higher on Wednesday, driven primarily by hopes that tensions will ease in the U.S.-China trade conflict and U.S. inventory data.  At 1:28 p.m. ET, Brent crude was trading up 2.09% at $66.02, while the U.S. benchmark, West Texas Intermediate (WTI), was trading up 2.12% at $62.63. A weaker U.S. dollar, bullish inventory data, and renewed hopes for easing U.S.-China trade tensions are all boosting crude today, particularly following a Bloomberg report suggesting China may be open to trade talks—pending specific…

Crude oil edged more than 2% higher on Wednesday, driven primarily by hopes that tensions will ease in the U.S.-China trade conflict and U.S. inventory data.  At 1:28 p.m. ET, Brent crude was trading up 2.09% at $66.02, while the U.S. benchmark, West Texas Intermediate (WTI), was trading up 2.12% at $62.63. A weaker U.S. dollar, bullish inventory data, and renewed hopes for easing U.S.-China trade tensions are all boosting crude today, particularly following a Bloomberg report suggesting China may be open to trade talks—pending specific…

Tehran is ready to ease US concerns over its nuclear activities but scrapping uranium enrichment is off the table, Foreign Minister Abbas Araqchi said as the two sides prepare for a second round of talks this weekend over Iran's nuclear program. Araqchi told reporters after a weekly cabinet meeting in Tehran on April 16 that Iran’s enrichment is a “real, accepted matter.” “We’re ready to build confidence in response to possible concerns, but the principle of enrichment is nonnegotiable,” he said, days ahead of…

Turkey’s top oil refiner, Tupras, has resumed purchasing Russian Urals crude oil after a brief halt earlier this year prompted by U.S. sanctions on Moscow. According to trading sources and shipping data reviewed by Reuters, the company restarted imports following a drop in Urals prices below the G7's price cap, reaching their lowest point since 2023. Tupras had previously become one of the largest buyers of Russian crude after Russia's 2022 invasion of Ukraine. In the first 11 months of 2024, Russian oil accounted for roughly 65% of Turkey’s…

Turkey’s top oil refiner, Tupras, has resumed purchasing Russian Urals crude oil after a brief halt earlier this year prompted by U.S. sanctions on Moscow. According to trading sources and shipping data reviewed by Reuters, the company restarted imports following a drop in Urals prices below the G7's price cap, reaching their lowest point since 2023. Tupras had previously become one of the largest buyers of Russian crude after Russia's 2022 invasion of Ukraine. In the first 11 months of 2024, Russian oil accounted for roughly 65% of Turkey’s…