Japanese companies to study making ammonia in Alaska for greener energy

Oct 4 (Reuters) – Alaska Gasline Development Corporation (AGDC) said on Tuesday it will study the feasibility of producing ammonia in the state’s Cook Inlet region with Japan’s Mitsubishi Corp (8058.T) and TOYO Engineering Corp (6330.T) and Hilcorp Alaska. The four companies agreed to “evaluate the commercial feasibility of utilizing North Slope natural gas delivered … Read more

Top oil traders see steady demand despite economic headwinds

GENEVA, Oct 4 (Reuters) – Economic headwinds have managed to significantly erode the world’s demand for oil, top oil traders said at the Argus European Crude Conference in Geneva on Tuesday. The forecasts by senior executives of the world’s main commodity trading houses may buttress the case for more resilient oil prices after recession fears … Read more

Venezuela’s oil exports in Sept boosted by sales to China, swaps with Iran

HOUSTON, Oct 4 (Reuters) – More shipments to Asia through intermediaries and growing cargo swaps with Iran drove Venezuela’s oil exports in September to their third highest level this year, internal documents and tanker tracking data showed. The OPEC-member nation’s oil exports were volatile earlier this year due to a lack of diluents required to … Read more

US says oil companies ‘must do more’ to build domestic fuel levels

HOUSTON, Sept 30 (Reuters) – US fuel supplies are “unacceptably” at or near 5-year lows amid hurricane threats and the oil industry must do more to address prices and demand, a Department of Energy spokesperson said on Friday. The spokesperson was commenting on a report that the chief executive of Exxon Mobil Corp (XOM.N), the … Read more

Australia backs $2.9 billion urea plant with low-cost financing

MELBOURNE, Sept 30 (Reuters) – The Australian government has agreed to provide a low-cost loan of A$220 million ($143 million) to privately owned Perdaman to build a A$4.5 billion urea plant in Western Australia, the country’s resources minister said on Friday. Perdaman plans to build a 2-million-tonnes-a-year urea plant, aiming to export about half the … Read more

Inflation weighs on consumer morale in the euro zone’s big three economies

BERLIN, Sept 28 (Reuters) – Consumer morale was down across the euro zone’s three largest economies as high inflation showed no sign of relenting heading into winter, according to surveys on Wednesday. German consumer morale is projected to hit a new record low for the fourth consecutive month heading into October, according to the GfK … Read more

UK Labor Party pledges to set up public energy company if elected

LIVERPOOL, England, Sept 27 (Reuters) – Britain’s opposition Labor Party would set up a publicly-owned energy company within a year of coming to power if it wins the next election, leader Keir Starmer said on Tuesday, saying it would lower bills and help deliver energy independence. Starmer said that a publicly-owned company would help ensure … Read more

Shell, Exxon launch joint sale of UK, Dutch North Sea assets – sources

Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 27 (Reuters) – Shell (SHEL.L) and Exxon Mobil (XOM.N) have launched a joint sale process of a large package of offshore natural gas assets in the southern UK and Dutch North Sea, three industry and banking sources said. The two companies have hired investment … Read more

European Big Oil sales footprint to shrink as transition ramps up – JPMorgan

A cow grazes on land in front of an oil refinery in Corsept, western France, October 26, 2015. REUTERS/Stephane Mahe/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 26 (Reuters) – Europe’s Big Oil companies will see their share of global energy sales slowly erode over the coming years as growing … Read more

Countries try to dodge EU’s carbon market fundraising plan

Register now for FREE unlimited access to Reuters.com Register BRUSSELS, Sept 23 (Reuters) – European Union countries are hunting for alternatives to an EU plan to use a carbon market reserve to help finance their exit from Russian gas, as some fear the proposal would undermine the bloc’s main climate change policy. As part of … Read more