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Asia Biofuels Update: Malaysian Palm Oil Down; 2nd Weekly Loss Expected

Malaysian palm oil futures edged lower on Friday and were on track for a second weekly loss, as crude oil prices logged sharp declines amid peace deal hopes and as weakening demand continued to weigh on sentiment.The Bursa Malaysia Derivatives' June crude palm oil contract slipped 0.04 % to 4,505 Malaysian ringgit ($1,152.83) per metric ton. The July contract eased by the same extent to 4,539 ringgit/mt. The contracts were set to lose more than 0.6% over the week.Malaysia has seen softer exports in the first 25 days of April, with cargo surveyors estimating a 15.7% to 16.8% month-over-month decline in shipments, largely due to logistical disruptions in the Middle East and as buyers exercised caution with buying due to high prices.Palm oil discounts to rival edible oils have eroded due to the recent price uptrend, resulting in a demand shift in India. Dealer estimates cited by Reuters showed a month-over-month drop in the country's palm oil purchases in April, and a rise in soybean oil and sunflower oil imports.S&P Global said that price spreads between Asian crude palm oil and South American soybean oil have shifted from negative to positive territory. From discounts of $50/mt to $100/mt earlier in the year, palm oil has traded at premiums to soybean oil of $80/mt to $100/mt in March and April.India typically buys soybean oil from Argentina and Brazil, and imports palm oil from Indonesia and Malaysia.High freight rates, however, limit arrival of South American soybean oil to Asia, with costs surging by about $130/mt in recent weeks, according to S&P Global.Over the week, the local currency has strengthened 1.3% versus the US dollar, raising purchase costs to international buyers and further weighing on export demand.A potential increase in production in April, following a seasonal low in Q1, may also pressure prices. Toward the end of the year, output trend could reverse as the El Nino weather phenomenon develops.Nonetheless, expected increases in domestic consumption in Indonesia and Malaysia, with the implementation of higher biodiesel blending mandates, could provide an upside.The release of Malaysia's April palm oil data on May 11 is expected to influence price movement.

Commodities1d ago

Enel Q1 Power Generation Rises as Thermal Output Offsets Hydro Decline

Enel reported Q1 earnings Thursday, showing total production of 51.1 terawatt-hours, up 1.8% from 50.2 TWh a year earlier.Total renewables production stayed roughly the same at 31.7 TWh, while nuclear generation declined 4.4% to 6.8 TWh in Q1 from 7.1 TWh a year earlier.The company reported a 5.3% decline in hydro generation to 13.8 TWh, compared with 14.6 TWh a year earlier.Total wind generation rose 4.3% to 11.9 TWh for the quarter, up from 11.4 TWh a year earlier.Generation from solar and others was 4.8 TWh, up from 4.4 TWh a year earlier, while geothermal production for the quarter was down 1.9% to 1.3 TWh.Total thermal generation climbed 17.1% to 9.2 TWh for the quarter ended March 31, up from 7.9 TWh a year earlier.Coal generation fell 74% to 123 gigawatt-hours, while combined-cycle gas turbine generation was up 28.5% to 7.8 TWh. Oil and gas generation declined 2% to 1.3 TWh.Enel generated 25.5 TWh of electricity in Europe during Q1, led by 16.9 TWh in Iberia and 8.6 TWh in Italy.Generation in the US reached 7.1 TWh during the quarter, while Canadian operations produced 0.4 TWh.Latin America and other markets generated 14.8 TWh in Q1, including 5.4 TWh in Chile, 4.4 TWh in Colombia and Central America and 3.7 TWh in Brazil.Total electricity distributed in Q1 was 120.9 TWh, up from 117.4 TWh a year earlier, as Italy's distribution volumes rose to 53.3 TWh from 51.8 TWh a year earlier.Electricity distribution in the Iberia segment increased to 35.8 TWh in Q1 from 34.4 TWh a year earlier, while Latin America distribution volumes rose to 31.9 TWh from 31.2 TWh.Total electricity sales declined to 59.2 TWh in Q1 from 63.8 TWh a year earlier.Gas sales declined to 2.4 billion cubic meters in Q1 from 2.5 bcm a year earlier, while total gas customers remained broadly stable at 5.7 million.

Commodities1d ago

US Natural Gas Update: Futures Rise on Small Storage Injection

US natural gas futures erased early losses and maintained higher prices in after-hours trade on Thursday after government data showed a smaller-than-expected increase in domestic gas inventories, triggering short covering and reinforcing expectations that the spring supply-demand balance may be tightening modestly.Both the front-month Henry Hub futures and the continuous contract rose 1.90% to $2.782 per million British thermal units.The US Energy Information Administration said natural gas inventories for the week ended May 1 rose by 63 billion cubic feet, below analyst expectations for a 72-80 Bcf build and under the five-year average increase of 77 Bcf for the week.The bullish storage surprise prompted buying in front-month contracts after futures had traded lower ahead of the report, Barchart said.Despite the smaller injection, supply levels remain ample. US gas inventories were 2.8% above year-ago levels and 6.7% above the five-year seasonal average.The Energy Buyers Guide said the market will likely be focused on "whether this storage miss was a one-off or a harbinger of a more durable shift in the underlying fundamental balance".Analysts at Gelber & Associates said the price lift "reinforced the idea that the spring balance is not quite as loose as consensus had assumed," the firm said, adding that the market still viewed the move as a near-term adjustment rather than the start of a sustained rally, noting that elevated inventories continue to limit upside potential for winter contracts."The rally is doing more to firm up summer risk than to meaningfully reprice next winter when storage remains above the five-year average," the firm said.Analysts also pointed to competing forces in the broader market, with strong LNG exports supporting prices while robust domestic production continues to weigh on sentiment.According to Barchart, citing data from BNEF, US lower-48 dry gas production on Thursday was estimated at 110.9 Bcf per day, up 4.5% from a year earlier. Demand across the lower 48 states was estimated at 71.0 Bcf/d, up 10.2% year over year.Flows to US LNG export terminals were estimated at 17.7 Bcf/d, down 5.9% from the prior week due to maintenance slowdowns.Gelber said the market can pop on a bullish storage surprise but still "needs either sustained heat, a more persistent slowdown in supply growth, or a string of smaller injections to make the move stick beyond the near-term contracts."

Commodities1d ago

Market Chatter: $7 Billion Oil Bets Placed Ahead of Trump's Iran Announcements Spark Scrutiny

Oil market bets totaling as much as $7 billion were placed ahead of major Iran-related announcements by US President Donald Trump in March and April, a Reuters analysis of exchange data, published Thursday, showed, raising fresh scrutiny over possible insider trading.The trades, spread across crude, diesel and gasoline futures on the Intercontinental Exchange (ICE) and the Chicago Mercantile Exchange (CME), far exceed previously reported positions worth about $2.6 billion.Reuters said it could not determine who placed the trades or whether they originated in the US or abroad.The US Commodity Futures Trading Commission is investigating the activity, a person familiar with the matter told Reuters in April, but has not publicly confirmed a probe.Separately, ABC News reported Thursday that the US Department of Justice is also investigating oil trades linked to the Iran conflict.The trades involved short positions that profited from sharp declines in oil prices following Trump's announcements on Iran. Traders first identified unusual activity on March 23, minutes before Trump delayed and threatened attacks on Iranian power infrastructure, sending oil prices sharply lower.Similar trading patterns appeared on April 7, before Trump announced a ceasefire with Iran; on April 17, before Iranian officials discussed reopening the Strait of Hormuz; and again on April 21, before Trump extended the ceasefire.In response to' request for comment, White House spokesperson Davis Ingle said, "All federal employees are subject to government ethics guidelines that prohibit the use of nonpublic information for financial benefit."He added that any implication that administration officials "are engaged in such activity without evidence is baseless and irresponsible reporting."Reuters' expanded analysis found coordinated sell orders across Brent and West Texas Intermediate crude futures, as well as European diesel and US gasoline contracts, often executed within minutes of key announcements.It found that on March 23 alone, traders sold roughly $2.2 billion in oil and fuel futures contracts shortly before Trump's announcement. Oil prices later fell by over 10%, while fuel prices dropped by about 12%.Reuters cited information from Adi Imsirovic, a veteran oil trader and associate at the Center for Strategic and International Studies, who said the trades appeared "well informed" and noted regulators could trace the activity through exchange data.ICE, CME, the Justice Department, and the CFTC did not immediately respond to requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$CME$ICE

Commodities1d ago

Weekly RIN Values Trade Higher, EcoEngineers Says

The Renewable Identification Numbers weekly markets traded higher for the week of April 29 to May 6, according to EcoEngineers Carbon Market Snapshot.Current year D4 2026 biomass-based diesel RIN prices were trading at $2.07 per RIN on Thursday, up from $1.96/RIN a week ago.D5 2026 advanced biofuel RINs were trading around $2.06/RIN, compared with $1.95/RIN a week ago.D6 2026 corn-based ethanol RIN prices finished trading on Thursday at $2.02/RIN, above $1.92/RIN a week ago.

Commodities1d ago

US Biofuels Update: US-Iran Peace Deal Hopes Push Soybean Complex Lower

Biofuels feedstock futures closed lower on Thursday amid an extended selloff, as headlines suggested the US and Iran were nearing a peace agreement.The Chicago Board of Trade July soybean futures contract closed 0.21% lower at $11.92 per bushel, while the CBOT July soybean oil futures contract settled 1.16% lower at 74.15 cents per pound.On Wednesday, the June ethanol futures contract on the Nymex ended 2.96% lower at $1.97 per gallon.The US announced on Thursday that "Project Freedom" will resume guiding commercial ships through the Strait of Hormuz with naval and air support.Rhett Montgomery, DTN analyst, said the soybean market fell for a third straight day but also found support on an attempted move below the 50-day moving average of $11.89 for July futures."The soybean market will be watching for reports of any potential frost damage to emerged crops through the recent cold spell, with 13% emerged according to the USDA to begin the week. Otherwise, beyond next week's WASDE, President Trump's planned visit to China is likely the most consequential event on the market's near-term horizon," Montgomery said in a daily note.For the week ending April 30, the US Department of Agriculture reported an increase of 5.2 million bushels or 141,900 metric tons of soybean export sales in 2025-26 and an increase of 0.2 mb or 5,500 mt for 2026-27.Last week's export shipments of 19.5 mb were above the 17.5 mb needed each week to achieve USDA's export estimate of 1.540 billion bushels in 2025-26. Soybean export commitments now total 1.430 bb in 2025-26 and are down 18% from a year ago.

Commodities1d ago

EU Prepares Coordinated Jet Fuel Response as Middle East Conflict Persists

Europe is preparing a coordinated response to potential constraints on jet fuel supply amid the ongoing Middle East conflict, the European Commission said on Thursday.The bloc's Oil Coordination Group, which includes experts from the Commission, EU member states, and the Energy Community secretariat, met to assess Europe's oil supply security and discuss contingency measures in case disruptions persist.Though officials said there are no fuel shortages in the EU, they warned that regional supply constraints could emerge in the coming weeks if disruptions to oil flows through the Strait of Hormuz are not resolved.The group discussed coordination mechanisms that could be activated if the situation extends beyond the end of May, including the possible release of EU emergency oil stocks.EU officials emphasized that any such releases would need to be closely coordinated at the EU level and paired with demand-side measures to ensure effectiveness.The Commission is expected to issue guidance to airline operators on Thursday clarifying regulatory flexibilities related to airport slots and fuel types, which could support contingency planning in the aviation sector.

Commodities1d ago

Cheniere Energy Q1 LNG Exports Hit Record 187 Cargoes

Cheniere Energy reported Q1 earnings Thursday, showing that 187 LNG cargoes were exported, bringing total liquefaction project output to 688 trillion British thermal units, compared to 608 TBtu for the same period a year ago.The energy firm said cumulative production from its liquefaction assets exceeded 4,760 LNG cargoes as of May 1, equivalent to over 325 million tons exported since inception.Cheniere Energy also reported that 60 TBtu of LNG sold on a delivered basis was in transit as of Mar. 31, including 1 TBtu related to commissioning volumes.The company completed Train 5 of its Corpus Christi Liquefaction Stage 3 Project in March 2026, following earlier completions of Trains 1 through 4 between March and December 2025.Price: $248.67, Change: $-12.75, Percent Change: -4.88%

$LNG

Commodities1d ago

EIA Expands Renewable Diesel Export Tracking as Overseas Shipments Rise

US renewable diesel and sustainable aviation fuel exports averaged nearly 50,000 barrels per day in H2 of 2025, the US Energy Information Administration said Thursday.Overseas shipments accounted for about one-fifth of total US renewable diesel and SAF production during this period, with Canada receiving more than half of the exports and the Netherlands taking roughly one-third.The EIA introduced renewable diesel export tracking in its March 2025 Petroleum Supply Monthly to improve visibility into regional trends in renewable fuel consumption across the US.The agency derives renewable diesel consumption estimates from refinery and blender net inputs, along with product-supplied calculations that include production, imports, inventories, and exports.Before export tracking began, renewable diesel consumption estimates appeared significantly higher because exported barrels were included in product-supplied data, the EIA said.The US Census Bureau tracks renewable diesel exports under Harmonized Tariff Schedule code 2710.19.4550, which also includes shipments of sustainable aviation fuel.Other biofuels tracked by the EIA include renewable heating oil, renewable naphtha, renewable propane, renewable gasoline, and additional fuels produced alongside renewable diesel and SAF.Plants producing renewable diesel and SAF also generate other biofuels as byproducts, and combining those export volumes provides a more accurate measure of total renewable fuel exports.The US exported about 20% of renewable diesel and other biofuels production in H2 of 2025, exceeding export shares for fuel ethanol at 13% and biodiesel at 7%.Canada received slightly more than half of US renewable diesel exports during the period, while the Netherlands accounted for about one-third of shipments, and most remaining volumes moved to other European markets.US Gulf Coast and West Coast terminals handled most renewable diesel exports in H2 of last year, with cargoes primarily moving to European markets and smaller volumes shipped to Canada.Exports from the Midwest and Rocky Mountain regions accounted for a smaller share of total shipments, though all those barrels moved into Canada, the EIA said.US exports of renewable diesel and other biofuels average 35,000 b/d in the first two months of 2026 from almost 50,000 b/d in H2 of 2025 as producers idled capacity while awaiting final Renewable Fuel Standard blending targets released on Mar. 27, the agency said.

Commodities1d ago

Strait of Hormuz Disruption Pushing Oil Market Toward Rationing, Wells Fargo Says

The global oil market is moving toward physical shortages and possible demand rationing within the current quarter if disruption in the Strait of Hormuz persists, Darrell Cronk, President of Wells Fargo Investment Institute, said in a Tuesday note.Cronk estimates cumulative supply losses tied to the conflict and partial closure of the key shipping route have reached about 600 million barrels as of early May. The disruption reflects not only delayed shipments, but also production effectively removed from the system through shut-ins, damage, and deferred output.With inventories and floating storage already significantly reduced, the market has limited remaining capacity to absorb additional shocks. If the strait does not reopen soon, the system may require demand destruction of 4 to 5 million barrels per day within weeks to restore balance.Supply disruptions are expected to take roughly 30 days to fully transmit through the system, meaning physical shortages at the consumer level could lag the initial shock.The most immediate stress is expected in natural gas and in intermediate- and medium-sour crude grades. Downstream impacts would likely emerge first in refined products, particularly diesel and jet fuel, before crude scarcity becomes visible to end users.A likely sequence of disruption would begin with petrochemicals and LPG, followed by diesel, affecting freight, agriculture, and industrial activity, and then jet fuel, which would constrain airline capacity and broader mobility.Import-dependent emerging markets are expected to experience the earliest strain, followed by Europe and other developed regions. Potential policy responses could include fuel allocation systems, airline capacity limits, and emergency consumption controls if shortages intensify.The US is partially insulated due to strong domestic production and Canadian pipeline imports, but global pricing would still transmit higher fuel costs domestically. Elevated energy prices could add to inflation pressures heading into the summer driving season and complicate interest rate expectations.Cronk also highlighted longer-term structural risks, noting that global energy supply chains have become less redundant and more vulnerable than widely assumed. It warned that prolonged disruption to infrastructure in the region could extend recovery timelines well beyond past oil shocks, even if geopolitical tensions ease.

Commodities1d ago

US Natural Gas Update: Futures Rebound After Smaller-Than-Expected Storage Build

US natural gas futures turned higher Thursday after a smaller-than-expected storage build eased some near-term supply pressure, with weather-driven demand expectations adding support.Both the front-month Henry Hub futures and the continuous contract rose 1.50% to $2.771 per million British thermal units.Prices traded lower earlier in the session but jumped immediately after the weekly storage report, reaching an intraday high of $2.813/MMBtu.The US Energy Information Administration reported that working gas in underground storage increased by 63 billion cubic feet for the week. That came in below expectations, which had centered on a build of 72 to 80 Bcf.Even with the smaller injection, inventories remain elevated at 2,205 Bcf. That is 75 Bcf above year-ago levels and 139 Bcf above the five-year average of 2,066 Bcf. The surplus versus the seasonal norm, however, narrowed from 153 Bcf the prior week.Weather forecasts helped reinforce the move higher. Cooler-than-normal systems are expected to persist across the Midwest and Northeast through Friday, supporting late-season heating demand. At the same time, hotter conditions are building in the West and Florida, with highs forecast to reach the 90s and even triple digits in early May, lifting cooling demand.Looking further out, outlooks for the next 6-15 days point to a warming trend spreading across the Plains and into the eastern US, according to forecasts cited by NRG Energy.On the supply side, US dry gas production slipped by 0.9 billion cubic feet per day to 106 Bcf/d. Demand also weakened, falling by 1.3 Bcf/d to 78.9 Bcf/d, largely due to reduced power sector consumption, NRG said.Liquefied natural gas export feedgas rose modestly by 0.3 Bcf/d to 17.2 Bcf/d. However, volumes remain below April highs as seasonal maintenance continues, partially offset by incremental demand tied to ramp-up activity at Golden Pass.

Commodities1d ago

Vistra Reports Higher Q1 Generation, Advances 4.5 GW Expansion Pipeline

Vistra (VST) reported Q1 earnings Thursday, showing total ongoing operations generation of 50.5 terawatt-hours, up from 48 TWh a year earlier.Generation in the East region increased to 30 TWh for the quarter ended March 31, up from 27.5 TWh a year earlier, while Texas generation rose to 20.1 TWh from 20 TWh.West region generation declined to 0.4 TWh in the quarter from 0.5 TWh a year earlier.Vistra added that total commercial availability fell to 92.7% for Q1, down from 95% a year earlier.Retail electricity volumes declined to 30.1 TWh in the quarter, down from 33.3 TWh a year earlier, amid milder weather conditions in ERCOT.Vistra is advancing about 4.5 gigawatts of generation capacity additions across gas, renewables, coal-to-gas conversions and nuclear uprates, including projects already completed or under construction.The company expects Permian gas peaker units to enter service by Q2 2028 and plans to begin construction on Oak Hill Phase 2 in 2026.Price: $158.55, Change: $+0.25, Percent Change: +0.16%

$VST

Commodities1d ago

RPC Posts Higher Q1 Sales Amid Soft Drilling, Crude Output Remains Resilient

US oilfield services provider RPC (RES) reported Q1 earnings Thursday, showing sales of $454.8 million, up from $332.9 million, even as drilling and completion activity continued to run well below pre-2023 levels.The average US rig count in Q1 was 548 rigs, down 6.8% from 588 rigs a year earlier, RPC said, citing data from Baker Hughes (BKR).RPC reported US crude production holding firm at about 14 million barrels per day, even as rig counts declined from 2022 highs.RPC said oil production has trended higher despite lower rig activity. It added that frac spreads have also declined.Price: $7.02, Change: $-0.36, Percent Change: -4.88%

$BKR$RES

Commodities1d ago

EMEA Natural Gas Update: Futures Reverse Losses on US Inventory Build

European natural gas futures reversed earlier losses in after-hours trading Thursday after US inventory data showed unexpected global market tightness, while traders await signs on whether the US-Iran conflict could ease and eventually reopen the Strait of Hormuz.Dutch TTF natural gas futures rose 0.907% to 44.30 euros ($52.10) per megawatt hour, while UK NBP contracts gained 1.339% to 109.00 British pence ($1.48) per therm.Market sentiment was buoyed by word that the weekly US natural gas build was less than feared. The US Energy Information Administration said Thursday that domestic inventories built by 63 billion cubic feet, less than the near 80 Bcf expected by the market.Prior to the inventory data, European sentiment softened amid reports that Washington and Tehran were moving toward a potential agreement to end hostilities. Iran is expected to respond within days to a reported one-page US memorandum proposal. The latest diplomatic push followed US President Donald Trump's brief suspension of an initiative intended to provide safe passage for vessels transiting the Strait of Hormuz.Although most Persian Gulf LNG cargoes are destined for Asian buyers, the disruption has tightened global gas balances and heightened concerns in Europe, where countries are attempting to rebuild inventories ahead of the winter heating season.However, European LNG imports declined year on year in March and April after gas prices surged in the wake of the Hormuz disruption. The downturn was particularly severe in the UK, where LNG imports fell 20% year-on-year during the two-month period, according to Vortexa data cited by Timera Energy on Thursday.European gas storage sites were 34.07% full as of Wednesday, according to Gas Infrastructure Europe, trailing the 41.4% level recorded a year earlier."Concerns over a lengthy disruption have already seen some European traders hedge against a price spike next winter," ANZ analyst Daniel Hynes said.Weather forecasts also remained in focus for gas markets.Atmospheric G2 said in a social media post on Thursday that Europe is entering a cooler and more unsettled weather pattern, with below-normal temperatures expected in the coming weeks. The forecaster said stronger wind and hydropower generation could offset weaker solar output, although conditions are expected to remain variable.In a separate post, Atmospheric G2 warned of increasing risks of summer heatwaves and drought across Europe, citing calmer Atlantic conditions and a strong El Nino pattern expected to persist into winter.

Commodities1d ago

Evergy Reports Lower Q1 Electricity Sales, Advances 4.24 GW Project Pipeline

Evergy (EVRG) reported Q1 earnings Thursday, showing total electricity sales of 13.58 million megawatt-hours in Q1, edging lower from 13.98 million MWh a year earlier.Residential electricity sales declined to 3.82 million MWh for the quarter ended March 31, down from 4.06 million MWh a year earlier.The company reported commercial electricity sales of 4.51 million MWh, down from 4.43 million MWh.Industrial electricity sales climbed to 2.07 million MWh for the quarter, up from 1.88 million MWh a year earlier.Wholesale electricity sales fell to 3.16 million MWh in Q1 from 3.60 million MWh a year earlier.Evergy's Capex plans involve investments of about $21.6 billion between 2026 and 2030 across solar, battery storage, natural gas generation and transmission infrastructure projects.Evergy plans to develop a combined 4.24 gigawatt generation pipeline across solar, battery storage and natural gas projects in Kansas Central, Metro and Missouri West through 2033.Price: $82.94, Change: $+1.95, Percent Change: +2.41%

$EVRG

Commodities1d ago

Engie Boost Renewables, Battery Storage Rollout in Q1

Engie reported Q1 earnings on Thursday, showing that total renewable and storage capacity reached 57.7 gigawatts, up 0.6 GW from the end of 2025.The utility firm said 93 projects representing 6.6 GW are under construction.Engie acquired two BESS projects in Andalusia, in Spain, with a combined capacity of 278 MW and 1.1 gigawatt-hours.The company launched construction of its first battery storage facility in Castelnau d'Aude, France, with a capacity of 110 MW/220 MWh. The firm expanded its BESS footprint in Europe to over 1 GW across eight countries, including projects already operating or under construction.Engie signed a power purchase agreement with the Egyptian Electricity Transmission Company for a 900 MW onshore wind farm, while its Ass Sol photovoltaic complex in Brazil entered full commercial operation in February, with a total capacity of 753 MW across 16 solar plants.The company's Local Energy Infrastructure division also expanded its footprint, with 586 projects in its portfolio in Q1, up 17 from year-end 2025 and on track toward its target of 800 projects by 2030.

Commodities1d ago

Statkraft Reports Lower Q1 Generation While Advancing 1.5 GW Pipeline

Statkraft reported Q1 earnings Thursday, showing total power generation of 20.3 terawatt hours, down from 21.7 TWh a year earlier.Hydropower generation declined to 16.8 TWh for the quarter ended Mar. 31, from 18.2 TWh a year earlier, the company said.Statkraft reported wind power generation of 2.3 TWh in the quarter, unchanged from a year earlier, it said.Gas-fired power generation slipped to 0.9 TWh from 1 TWh a year earlier, while biomass and solar power generation increased to 0.2 TWh from 0.1 TWh, Statkraft added.Statkraft generated 14.1 TWh in Norway during the quarter, down from 15.8 TWh a year earlier, while generation in Europe excluding the Nordics increased to 2.2 TWh from 1.8 TWh, the company said.The company maintained its renewable investment strategy and expects to invest NOK16 billion ($1.72 billion) to NOK20 billion annually in the coming years, according to Statkraft.Statkraft is advancing 1.5 gigawatts of renewable energy projects under construction across Europe and South America, including solar, wind, battery storage, and hydropower development, according to the company.

Commodities1d ago

Harbour Energy Q1 Production Rises, Lifts Lower End of FY Output Guidance

UK-based Harbour Energy plc said Thursday that first-quarter 2026 production rose to 506,000 barrels of oil equivalent per day, from 500,000 boepd in the same period a year earlier, supported by strong performance in Norway and new projects coming online across multiple regions.The UK-based independent oil and gas producer said its production mix in the quarter comprised 40% liquids, 40% European gas, and 20% other gas.The company said output growth from its international portfolio, particularly in Norway, offset declines in the UK and the impact of divestments in Vietnam, which were completed ahead of schedule on Feb. 11.Harbour cited high operational reliability across key Norwegian hubs, strong delivery from the latest Njord well, and robust reservoir performance at the Harbour-operated Gjoa satellite fields as key drivers of performance.The company also brought new projects and wells onstream in the US, Norway, Argentina, and Egypt.Unit operating costs improved to $12.80 per boe in the first quarter, compared with $13 per boe a year earlier.Harbour narrowed and raised its full-year production guidance to 480,000-500,000 boepd, from a previous range of 475,000-500,000 boepd, reflecting strong year-to-date performance, including production of 520,000 boepd in April, ahead of planned maintenance programs in the UK and Norway.

Commodities1d ago

Aker BP Reports Lower Q1 Oil, Gas Production; Maintains 2026 Outlook

Aker BP reported Q1 earnings Thursday, showing net petroleum production of 398,400 barrels of oil equivalent per day, down from 441,400 boe/d a year earlier.The company reported producing liquids volumes of 31 mmboe for the quarter ended March 31, down from 34 mmboe a year earlier.Total gas volumes produced fell to 4.8 mmboe for the quarter, down from 5.7 mmboe a year earlier.Aker posted net sold volumes of 405,700 barrels of oil equivalent per day in the quarter, down from 457,600 boe/d a year earlier.The company reported liquids sales volumes of 352,200 boe/d, compared with 394,000 boe/d a year earlier, while natural gas sales volumes declined to 53,400 boe/d from 63,500 mboe/d.Total liquids sales volumes for the quarter were 31.7 mmboe in the first quarter, down from 35.5 mmboe a year earlier, while gas sales volumes declined to 4.8 mmboe from 5.7 mmboe.Aker BP maintained its 2026 production guidance at 370,000 boe/d to 400,000 boe/d and kept planned capital expenditure at $6.2 billion $6.7 billion.The company started oil production at the Symra project on April 3, nine months ahead of the original schedule.Aker BP accelerated the Skarv Satellites project start-up to the third quarter of 2026 after completing major subsea installations during the quarter.

Commodities1d ago

DNO Q1 Output Falls on Kurdistan Disruptions Despite Record North Sea Production

Norwegian oil and gas operator DNO ASA on Thursday reported first-quarter net production of 131,700 barrels of oil equivalent per day, down 12% from the previous quarter due to lower output from Kurdistan, even as record North Sea production and stronger energy prices boosted earnings.Production during the quarter comprised 88,600 boepd from the North Sea, 39,600 boepd from Kurdistan, and 3,400 boepd from West Africa, the company said.DNO said stronger March oil and gas prices, combined with record North Sea output, underpinned robust first-quarter results."While higher oil and gas prices support new investments across our portfolio, these prices are a consequence of unwelcome and tragic geopolitical convulsions outside our industry's control," Executive Chairman Bijan Mossavar-Rahmani said.The company continued advancing its North Sea growth strategy, targeting production of 100,000 boepd by 2030. During the quarter, DNO completed a strategic asset swap, exchanging four non-core discoveries for a 19% stake in the Atlantis discovery near the Kvitebjorn and Gjoa hub areas.DNO also agreed to acquire a 3.3% interest in the Vega Unit from INPEX Idemitsu Norge AS, increasing its stake in the field to 8.8%, subject to customary closing conditions.The company said it has four North Sea developments scheduled to come onstream between 2026 and 2029. At the Symra field, production from the first two wells began in April, nine months ahead of schedule.DNO also holds interests in nine North Sea discoveries awaiting project sanction, all targeted for first oil by 2030. Its 2026 exploration program includes six wells, among them appraisal wells at the Carmen, Afrodite, and Norma discoveries.In Kurdistan, DNO said production at its operated Tawke license started the year strongly, supported by two newly drilled wells brought online early in the quarter.However, the company temporarily suspended production and drilling activities after US-Israeli air strikes against Iran on Feb. 28, citing safety concerns.Limited field operations resumed on Apr. 9, including workovers on existing wells and the restart of an eight-well drilling campaign aimed at increasing production from the Tawke and Peshkabir fields when security and market conditions improve.

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Commodities1d ago

Market Chatter: $7 Billion Oil Bets Placed Ahead of Trump's Iran Announcements Spark Scrutiny

$CME$ICE