NaturalGas
The Po Delta covers an area of around 500 km2 in northeast Italy. Located around an hour south of Venice, the wetlands veined with rivers are some of the largest and richest in the Mediterranean. Partly created by slow sedimentation and partly by human reclamation efforts, the park is a complex mosaic of lagoons, marshes, beaches and farmland. However, the UNESCO-designated biosphere reserve is engaged in a long-standing battle against the encroaching Adriatic Sea. Now, a reignited project to drill for gas offshore is prompting fresh fears of flooding. Italy’s UNESCO-designated delta is sinkin...
Euronews (English)
Companies would be largely free to rely on carbon offsetting to back up their claims to be climate friendly, under a leaked draft inter-governmental position on a European anti-greenwashing directive, sparking criticism that one set of standards might apply to companies and another to the products and services they sell. In an updated compromise text, dated 22 May and seen by Euronews, Belgium has made what may be its final attempt to forge an inter-governmental position on a proposed Green Claims Directive before it hands over the rotating presidency of the EU Council to Hungary in July. A ke...
Euronews (English)
Sustainable energy company EOG Resources has reported its Q1 2024 quarterly earnings, with better-than-expected results all round. One chief reason for this, according to the company, was that EOG experiences “volumes and total per-unit cash operating costs better than guidance midpoints.” It also reflected the continued bullishness of investors and market sentiment at large for more sustainable energy solutions. EOG, with its natural gas, hydrocarbon and crude oil streams, seems to be benefitting from the zeitgeist nicely. Net income and free cash flow riseThe company reported an adjusted net...
Invezz
Turkey is in discussions with US energy giant ExxonMobil regarding a multibillion-dollar deal to buy liquefied natural gas. In an interview with the Financial Times, Turkish energy minister Alparslan Bayraktar said that his country was hoping to diversify its energy providers, therefore bolstering national security. As part of the proposed deal, Turkey would secure up to 2.5 million tonnes of LNG a year from Exxon, at a cost of around $1.1 billion. The agreement could last a decade, although the exact conditions were yet to be determined, Bayraktar said. Watchdog urges caution on reducing Russ...
Euronews (English)
French energy company TotalEnergies announced its first quarter 2024 earnings on Friday morning, announcing a 22% decline in Q1 2024 earnings, mainly due to shrinking natural gas profits. However, a stronger-than-expected oil market did manage to offset this somewhat, although increasing crude oil prices could pose a problem for refining margins in the next few months, according to TotalEnergies. Adjusted net income for the first quarter of the year surpassed market expectations, coming in at $5.1 billion (€4.75 billion), more than the $5 billion previously anticipated by London Stock Exchange...
Euronews (English)
The Netherlands has officially stopped drilling at the Europe's largest gas field in Groningen, marking the occasion with a symbolic ceremony on Friday. The occasion took place at the same spot where the deposit was reportedly discovered in 1959. Since the early 1960s, the field has been a major contributor to the country's economy and it still has huge reserves of gas. But over the years it has become clear the drilling has caused a spike in seismic activity. The problem became acute in the 2010s. In 2012, Groningen was hit with a 3.6 magnitude earthquake: the strongest in the history of the ...
Euronews (English)
Imports of Russian liquified natural gas (LNG) remain a source of energy security for the EU and should only be reduced in “gradual steps” to avoid disruptions in supply, an EU watchdog warned. The advice was published in a report today (April 19) by ACER, the EU agency for the cooperation of energy regulators, offering analysis on European LNG market developments, which noted that the EU imported 18 billion cubic metres (bcm) of Russian LNG in 2023 via the Yamal pipeline, mostly through long-term supply agreements signed before 2022. The report flagged that increasing EU reliance on Russian L...
Euronews (English)
The European Commission has been urged not to rush through legislation defining when a fuel can be considered ‘low-carbon’, a question that will determine what technologies qualify for policy and financial support, with far-reaching implications for the future of the natural gas industry. Following a political agreement with government delegates late last year, the European Parliament is expected to adopt next week a Gas and Hydrogen Markets Directive, which will give the EU executive one year to answer the complex question of what constitutes a ‘low-carbon’ fuel. Environmental groups, joined ...
Euronews (English)
In his podcast addressing the markets today, Louis Navellier offered the following commentary. War Against Natural GasThe G7 meeting in Japan will be interesting this week. Germany is in disagreement with Britain and France over support for natural gas. In fact, Germany has strived to label natural gas as “green.” In North America, we do not know what to do with all the natural gas that we have, which is why in North Dakota natural gas in their crude oil fields is “flared,” since there are no pipelines to transport natural gas. So if California, New York, Britain and France succeed in curtaili...
ValueWalk
In his podcast addressing the markets today, Louis Navellier offered the following commentary. More UAW LayoffsThe Labor Department on Thursday announced that weekly unemployment claims declined slightly to 243,000 in the latest week, down from a revised 245,000 in the previous week. Continuing unemployment claims declined to 1.415 million in the latest week, down from a revised 1.434 million in the previous week. So on the surface, unemployment is not a problem yet, even though the four-week moving averages of both weekly and continuing claims rose slightly. Q2 2022 hedge fund letters, confer...
ValueWalk
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