Financial News · Live Terminal

Page 74 of 103

Hess Midstream Q1 Earnings Show Higher Gas Throughput

Hess Midstream (HESM) reported Monday Q1 earnings, showing throughput gas gathering volumes of 438 million cubic feet per day, up from 431 MMcf/d a year earlier.The company reported crude-gathering throughput of 110,000 barrels per day for the quarter ended March 31, up from 117,000 b/d a year earlier.The company processed 430 MMcf/d of gas in Q1 compared with 424 MMcf/d a year earlier, while crude terminal volumes declined to 119,000 b/d from 125,000 b/d.Hess Midstream expects 2026 gas gathering volumes of 450 MMcf/d to 460 MMcf/d and gas processing of 435 MMcf/d to 445 MMcf/d.The company also guides crude terminal volumes at 125,000 b/d to 135,000 b/d, while crude gathering is forecast at 115,000 b/d to 125,000 b/d.Hess Midstream expects to spend about $105 million in total capital expenditures for the full year 2026.

$HESM

Commodities51d ago

US Natural Gas Update: Futures Jump to Four Week High on Cooler Forecasts

US natural gas futures trimmed earlier gains in after-hours trade on Monday but still climbed to a four-week high as cooler weather forecasts lifted prices.Both the front-month Henry Hub contract and the continuous contract rose 2.73% to $2.856 per million British thermal units.Expectations for below-normal temperatures across key consuming regions underpinned the rally, with forecasts pointing to increased heating demand in the near term.The Energy Buyers Guide said cooler-than-normal conditions are expected to dominate the eastern two-thirds of the US over the next two weeks, while the West is forecast to stay significantly warmer than average. Even so, overall energy demand is expected to remain subdued into mid-May, absent a major shift in weather patterns.Despite the price strength, underlying demand signals remain mixed. The Energy Buyers Guide noted that Monday likely marked the seasonal low point for combined heating and cooling demand, with population-weighted degree days projected at just 5.1, the lowest level since early May 2025. It suggested this could represent a transition point before stronger cooling demand emerges later in the spring.On the supply side, ample inventories continue to weigh on the broader outlook. Barchart noted that natural gas prices had dropped to a 1.5-year nearest-futures low on Apr. 17 amid robust storage levels. US Energy Information Administration data showed inventories as of Apr. 24 were 7.7% above the five-year seasonal average.Production also remains strong. Lower-48 dry gas output was estimated at 110.1 billion cubic feet per day on Monday, up 3.2% from a year earlier and slightly above what the EIA considers typical maximum capacity for April, according to BNEF. Demand in the Lower 48 states totaled 65.5 bcf/day, up 7.0% year over year.LNG feedgas flows showed some softening. Net flows to US LNG export terminals were estimated at 18.0 bcf/day on Monday, down 6.8% from the prior week, BNEF data showed.Reuters, citing LSEG data, reported that exports from the LNG Canada facility exceeded 1 million metric tons in April, setting a monthly record. The plant, the country's first major LNG export terminal and the first on North America's West Coast, shipped all volumes to Asia, with more than half destined for South Korea and at least one cargo delivered to China.

Commodities51d ago

New Jersey Resources Reports Q1, Boosts CAPEX Outlook to $5.2B, Targets 7-9% Growth

New Jersey Resources (NJR) reported Q1 earnings Monday, highlighting a multi-year growth plan targeting 7% to 9% earnings expansion, supported by a capital program of $4.8 billion to $5.2 billion through 2030.The company is expanding its utility footprint with 592,455 customers across six New Jersey counties and expects to add 7,000 to 9,000 new customers annually, driven by construction and conversions, NJR said.NJR is advancing its solar platform with about 489 megawatts of installed capacity and a development pipeline of roughly 1.2 gigawatts, while it has already placed about 9.7 MW in service year to date in fiscal 2026, the company added.The company plans capital spending of $775 million to $930 million in fiscal 2026 and $870 million to $1.0 billion in fiscal 2027, according to the company.NJR is expanding storage and transportation capacity through projects such as Leaf River, which aims to increase working gas capacity by over 70% from about 32 Bcf to more than 55 Bcf, the company said.The company is also growing midstream and infrastructure assets, including Adelphia Gateway and Steckman Ridge, while targeting long-term demand growth supported by energy services, solar expansion, and pipeline investments, it said.Price: $56.08, Change: $+0.08, Percent Change: +0.14%

$NJR

Commodities51d ago

US Land Rig Count Slides as Permian Activity Softens, RBC Says

The US land rig count slides for a second consecutive week, pressured by a pullback in oil-directed drilling, RBC Capital Markets strategists said in a note on Sunday.Total US land rig count fell by six week-on-week to 525, RBC analysts said, citing Baker Hughes. The decline was driven by the oil-directed side of the business, which saw six units sidelined, bringing the total to 389. Gas-oriented activity held steady at 129 rigs.The Permian Basin, the largest US shale region, saw activity edge lower, with the rig count slipping by one to 241. RBC said that the Permian Basin continues to dominate US drilling, accounting for about 62% of oil-directed rigs in the Lower 48 and 47% of total land rigs.The most active drilling companies in the Permian are Helmerich & Payne (HP) with 88 rigs, Patterson-UTI Energy (PTEN) with 32 rigs, and Nabors Industries (NBR) with 29 rigs. Exxon Mobil (XOM) led the operators with 34 rigs, followed by Occidental (OXY) with 20 and ConocoPhillips (COP) with 17.Eagle Ford activity climbed one rig to 43, while the Williston Basin was unchanged at 28. Gas-focused regions showed modest strength, with the Haynesville Shale gaining two rigs to 58, while Appalachian Basin activity held flat at 37.RBC said that private operators continue to play a significant role in key basins, though their share of activity has declined in some areas. Private firms in the Permian accounted for 39% of active rigs, down from 43% a year earlier, while in the Eagle Ford their share fell to 37% from 46%.Private operators, by contrast, still dominate the Haynesville, accounting for about 72% of rigs, unchanged from last year.Price: $124.79, Change: $+1.60, Percent Change: +1.30%

$COP$OXY$PTEN$XOM

Commodities51d ago

US Natural Gas Update: Prices Rise Over 3% as Production Declines

US natural gas futures rose in midday trade on Monday, supported by declining production amid abundant supply and soft shoulder-season demand.Both the front-month Henry Hub contract and the continuous contract rose 3.20% to $2.87 per million British thermal units.US dry gas production has eased from recent highs with output peaking near 110 billion cubic feet per day in February, according to the Energy Information Administration.Trading Economics said its data indicated production has since slipped roughly 2 Bcf/d over the past five days to a preliminary 12-week low of 107.6 Bcf/d. The decline reflects voluntary curtailments by major producers as sustained low prices pressure output economics.The softer production profile is feeding through into storage dynamics. The EIA reported a 79 Bcf injection for the week ended Apr. 24, broadly aligned with expectations of an 80 Bcf build. However, the increase was smaller than the prior week's 103 Bcf and well below the 105 Bcf build recorded in the same week a year earlier.Demand signals remain mixed. Weather models point to lingering colder-than-normal conditions in the eastern US through May 11, before a transition to warmer temperatures. Power sector gas demand has eased in recent days, falling to 26.2 Bcf/d from a stronger 33.0 Bcf/d reported last Wednesday.On the LNG side, feedgas flows have moderated slightly. NRG reported flows at 17.3 Bcf/d as of May 4. Trading Economics data showed April averaged 18.8 Bcf/d, up from 18.6 Bcf/d in March and above February's prior record monthly average of 18.7 Bcf/d.

Commodities51d ago

Pinnacle West Capital Reports Higher Q1 Power Output, Fueled by Expanding Customer Base

Pinnacle West Capital (PNW) reported Monday Q1 total generation of 6,065 gigawatt-hours for the quarter, compared with 6,010 GWh a year earlier.The company reported a total energy supply of 8,503 GWh for the quarter ended March 31, up from 8,254 GWh a year earlier.Pinnacle West generated 2,393 GWh from nuclear in Q1 compared with 2,508 GWh a year earlier, while it lifted coal output to 1,460 GWh from 1,101 GWh.The company produced 2,017 GWh from gas, oil and other sources, down from 2,222 GWh a year earlier, while it increased renewable generation to 195 GWh, up from 180 GWh.Pinnacle West procured 2,437 GWh of power in the quarter, compared with 2,244 GWh a year earlier, including renewable purchases that rose to 1,638 GWh from 1,492 GWh.The company reported 8,160 GWh of total electricity sales, up from 7,794 GWh a year ago, while total retail sales climbed to 7,553 GWh from 6,707 GWh.Total residential sales were 2,814 GWh for the quarter, up from 2,669 GWh a year earlier.Total sales to businesses were 4,740 GWh for Q1, up from 4,038 GWh a year ago.Pinnacle West strengthened its nuclear capacity by acquiring nearly 100 megawatts at the Palo Verde generating station in the third quarter of 2025 and plans to invest about $500 million over the next 10 years to expand and upgrade the facility.The company is expanding generation capacity with plans to build up to 2 GW of new natural gas-fired power, while it is also acting as an anchor shipper on a gas pipeline expected to start operations by late 2029.Pinnacle West expects retail customer growth of 1.5% to 2.5% in 2026 and projects weather-normalized sales to increase 4% to 6%, driven by demand from large manufacturing sites and data centers.Price: $101.69, Change: $-0.94, Percent Change: -0.92%

$PNW

Commodities51d ago

EMEA Natural Gas Update: Futures Surge on Gulf Military Escalation, Supply Fears

European natural gas futures soared nearly 7% in after-hours trade on Monday as renewed conflict in the Iran region disrupted sentiment across energy markets, with strikes on a key UAE oil port and multiple vessels again raising concerns over supply.The front-month Dutch TTF contract rose 6.935% to 48.94 euros ($57.20) per megawatt-hour, while UK NBP trading was closed due to the Early May Bank Holiday.Geopolitical risk escalated after Iran warned it could target US warships and commercial vessels attempting to transit the Strait of Hormuz without its approval. The warning followed an uptick in military activity in the Persian Gulf.US President Donald Trump said over the weekend that Washington would facilitate safe passage for vessels through the strait under a new protection arrangement, though he provided few operational details. On Monday, US Central Command said two US-flagged ships had crossed the waterway without incident.Separately, the UAE said it activated air-raid alerts for the first time since early April after reporting an attack involving four missiles and multiple drones. Authorities confirmed a drone strike triggered a fire at the Fujairah oil hub, a critical export facility used to bypass Iranian influence near the Strait of Hormuz.The escalation in Gulf tensions added to upward pressure on European gas markets, amid heightened supply risks alongside already tight fundamentals.Pipeline imports from Norway remain reduced amid seasonal maintenance running from April through September, while storage levels across Europe continue to lag last year. Data from Gas Infrastructure Europe shows EU gas inventories at 33.42% of capacity, compared with 40.29% a year earlier, as markets move into the replenishment period ahead of winter demand.

Commodities51d ago

AI Boom to Drive US Natural Gas Demand Higher Through 2030, RBC Says

Natural gas is set to play a defining role in powering the rapid expansion of artificial intelligence-driven data centers in the US, as developers prioritize cost, reliability, and speed to market over longer-term decarbonization goals, RBC Capital Markets strategists said on Monday.RBC analysts said gas demand tied to data center growth could reach about 6.1 billion cubic feet per day by 2030, an inflection point the bank previously expected to occur later in the following decade.The upward revision reflects both the scale and geographic concentration of projects in regions with abundant gas supply and existing infrastructure. "Energy intensity, project location, and the need for reliable baseload power are driving a more gas-heavy outlook through 2030," RBC analysts said.RBC said the surge underscores how energy considerations are reshaping the AI buildout, with hyperscale operators increasingly clustering projects in "gassier" grids such as Texas and Virginia.Together, the two states account for about 40% of operating, planned, and under-construction capacity, while Georgia, Ohio, Illinois, Arizona, Louisiana, and Pennsylvania are gaining traction due to favorable regulation and proximity to fuel sources.The bank projected that data center power demand could reach 580 terawatt-hours by 2030 in a bullish scenario, with longer-term consumption approaching 900 TWh by 2035 as gains in chip efficiency are outpaced by the energy intensity of AI workloads.However, to meet the demand, developers are adopting a two-pronged approach to power procurement, expanding grid-connected generation while simultaneously building on-site capacity.On the grid side, RBC said front-of-the-meter gas capacity has surged, with about 64 gigawatts of projects now queued for interconnection by 2030, more than double the level planned at the start of 2025.The average plant size has also grown, reflecting the scale required to support large AI campuses. Simultaneously, hyperscalers are accelerating behind-the-meter strategies, announcing over 100 GW of on-site gas-fired generation to bypass congested interconnection queues and secure reliable, always-on power.RBC analysts said the model is gaining momentum as developers seek to avoid delays and shield customers from rising electricity costs. It also aligns with industry pledges to invest in dedicated infrastructure rather than relying solely on public grids."Natural gas has emerged as the backbone fuel for both approaches in the near term," the analysts said, citing its availability, relatively low cost, and insulation from geopolitical volatility compared with global energy markets.Meanwhile, the US Department of Energy forecasts that 36.6 GW of data center capacity is currently under construction, with an additional 201.5 GW in planning. Though some projects may not materialize, the pipeline highlights the scale of developer interest and the growing strain on regional power systems.Texas is at the forefront of the expansion, with interconnection requests from data centers alone reaching 356 GW in the ERCOT market. The expansion is prompting regulators to overhaul approval processes, which could improve transparency but also slow project timelines.Louisiana is emerging as a new hotspot after introducing expedited permitting rules for power generation, while Pennsylvania is attracting investment due to its proximity to fiber networks and the Appalachian gas basin. Developers are also pairing data centers with dedicated gas plants to ease pressure on local grids.

Commodities51d ago

Aker Solutions, Var Energi, KNCC Sign Deal for Trudvang CCS Project

Aker Solutions, Var Energi and Knutsen NYK Carbon Carriers signed an agreement to advance the Trudvang Carbon Capture and Storage project targeting 2 million metric tons annually, Aker Solutions said Sunday.The companies signed the memorandum of understanding to develop an integrated CO2 transport and storage value chain on the Norwegian Continental Shelf.The partnership brings together offshore engineering, CO2 storage operations, and marine transport capabilities to strengthen the Trudvang project and deliver flexible, commercial solutions for European industrial clients.The project uses KNCC's CO2 carriers with dynamic positioning systems alongside Aker Solutions' engineering expertise to enable an unmanned offshore injection platform and direct batch injection.The development will start with an injection capacity of about 2 million mt per annum and scale beyond 20 million mtpa through modular expansion.The project will store CO2 in the Utsira Formation, leveraging nearly 30 years of operational experience from the nearby Sleipner field to support long-term storage reliability.The companies will engage customers, regulators, and stakeholders to strengthen market confidence and accelerate the commercialization of the CCS value chain.The partners will develop flexible logistics solutions, including medium-pressure and elevated-pressure transport options, to meet varying industrial requirements, Aker Solutions said.The partnership will optimize infrastructure for unmanned platforms and subsea systems to reduce environmental impact and lower operating costs.The project will advance direct offshore injection systems to ensure safe and efficient coordination between CO2 vessels and offshore facilities in the North Sea.Var Energi CCS holds a 40% stake in the Trudvang license, while INPEX Idemitsu Norge and Storegga Norge each own 30%, following the September 2023 award.

Commodities51d ago

GE Vernova Wins 1.35-GW India Pumped-Storage Order from MEIL

GE Vernova (GEV) has won an order from India's Megha Engineering and Infrastructures Limited to supply nine 150-megawatt pumped-storage units for the 1.35-gigawatt Upper Sileru hydropower project in Andhra Pradesh, it said in a Monday statement.The project is scheduled for completion in 2030, with the facility set to rank among India's largest pumped-storage plants. It is expected to provide electricity equivalent to the annual consumption of roughly 3 million homes.The project aims to support grid stability by storing excess renewable energy and balancing variable solar and wind generation.GE Vernova's contract covers design, engineering, manufacturing, testing, delivery, and commissioning support for the nine vertical Francis reversible units and associated control systems.The award marks the companies' second collaboration, following GE Vernova's ongoing delivery of four 125-MW pumped-storage units for the Kundah hydropower project.Pumped storage acts as large-scale energy storage, enabling rapid switching between pumping and generation to manage peak demand and frequency. GE Vernova said it holds about 30% of the global installed pumped-storage base and is developing over 3 GW of projects worldwide.Price: $1073.06, Change: $+10.11, Percent Change: +0.95%

$GEV

Commodities51d ago

EU Clears EDF Renewables Polska-Eurus Joint Acquisition of ME Kobiernice

The European Commission has approved the acquisition of joint control of ME Kobiernice sp. z o.o. by EDF Renewables Polska sp. z o.o. and Eurus Energy Europe B.V., under the EU Merger Regulation, it said in a statement on Monday.The deal centers on the development and operation of a battery energy storage system in Poland.The Commission said the transaction does not raise competition concerns, noting that the joint venture's activities in the European Economic Area are negligible. The case was reviewed under the bloc's simplified merger procedure.

Commodities51d ago

Market Chatter: Siemens Energy, GE Vernova Raise Payment Risks for Venezuela Power Rebuild

Venezuela's $100 billion grid rebuild push faces setbacks as firms question payments, with under 13,000 megawatts available from a capacity of 36,000 MW, Reuters reported Monday, citing two sources involved in talks.Executives from Siemens Energy and GE Vernova (GEV) raised payment concerns during April meetings in Caracas, prompting financiers to be cautious about supporting grid upgrades.Those concerns weakened confidence in Venezuela's effort to revive infrastructure under a $100 billion reconstruction plan backed by Washington.Interim President Delcy Rodriguez is prioritizing reliable electricity after taking office in January, but the government has not secured firm payment guarantees for contractors.An executive who attended the Caracas meeting said a decade of neglected plants created massive repair needs, while authorities still lack a clear payment mechanism for suppliers.Available generation remains below 40%, driving repeated outages and restricting industrial output nationwide, according to the report.Thermal plant expansion through 2013 under Hugo Chavez left billions of dollars unpaid to contractors, many of whom authorities are now urging to return.Unclear project priorities, equipment needs, and approval requirements from both Washington and Caracas continue to delay investment decisions, the report added, citing the sources.Venezuela operates less than 13,000 MW from a total installed capacity of 36,000 MW, with fuel-based plants accounting for about 2,500 MW, or roughly 13% of capacity.Rodriguez is targeting repairs at two major thermal plants in early phases, though officials have yet to outline a broader recovery strategy.Multinational companies remain cautious about returning to Venezuela after past disputes during the Hugo Chavez era, when unpaid contracts eroded trust and discouraged future engagement.Several firms that did not receive cash payments pursued arbitration or filed legal claims abroad after accepting promissory notes, which they later sold at steep discounts.Rodriguez's government turned down a proposal from foreign firms that requested upfront payments for repairs and spare parts, while some financiers proposed routing payments through US Treasury-supervised oil revenue accounts, the report added, citing sources.has reached out to Siemens Energy, GE Vernova and PDVSA for any comments.(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.)Price: $1081.26, Change: $+18.31, Percent Change: +1.72%

$GEV

Commodities51d ago

US Manufacturing Coal Use Halves, Southern Use Declines 75%, EIA Says

Coal deliveries in the US for non-power uses, mainly manufacturing, have dropped sharply, falling by roughly half over the past 15 years. The steepest regional decline occurred in the South, where coal use for these purposes plunged 75% between 2010 and 2025, the US Energy Information Administration said on Monday.The 75% drop in the South is a decrease of 14.7 million short tons, based on data from the EIA's Annual and Quarterly Coal Distribution Reports. In 2010, the South received more than twice as much coal as the Northeast, but by 2025, the two regions were receiving similar amounts. This shift was largely driven by manufacturers switching to natural gas and the shutdown of coal-dependent facilities.Most Southern states saw coal receipts decline compared with 2010 levels. The biggest drops in total volume occurred in Appalachian states, West Virginia, Alabama, Virginia, Tennessee, Kentucky, and Georgia, each averaging a reduction of about 1.7 MMst. Percentage-wise, Florida, West Virginia, Georgia, Texas, and South Carolina experienced declines of 90% or more. Louisiana was the only exception, with coal receipts rising by 775%, or about 0.2 MMst, though it still accounted for only around 5% of the South's total non-power coal distribution in 2025.Coal has historically played a role in Southern manufacturing, with about 8% of regional coal distribution used for purposes other than electricity generation. However, data from the 2022 Manufacturing Energy Consumption Survey show coal use in US manufacturing fell from 60 MMst in 2010 to 43 MMst in 2022, a 28% decline. The South contributed most to this drop, with usage falling 60%, from 20 MMst to 8 MMst. Key industries behind the decline include paper, primary metals (especially iron and steel), chemicals, and coke production. In some cases, reduced demand reflects plant closures, such as coking facilities in Alabama and West Virginia. Meanwhile, these same industries increased their use of natural gas by 16% to 200% over the same period.

Commodities51d ago

Ecobat Exits European Lead Market; Germany, Austria Asset Divestiture Completed

Battery recycler Ecobat has exited the European lead market following the completion of the sale of its battery recycling and specialty lead operations in Germany and Austria to energy storage solutions company Clarios, the company said Monday.The latest transaction, which includes the company's facilities in Freiberg and Braubach in Germany, as well as the Arnoldstein operation in Austria, followed previous divestitures in France, Italy, and the United Kingdom.Ecobat said it is now "positioned as a focused North American platform" following the sale of its European assets.

Commodities51d ago

US Natural Gas Update: Futures Gain as Light Storage Build, Output Dip Support Prices

US natural gas futures were up on Monday, supported by a smaller-than-expected injection into storage, lower output and bullish weather forecasts.The front-month Henry Hub contract and the continuous strip both edged up 1.26% to settle at $2.81 per million British thermal units.This comes following the US Energy Information Administration's Weekly Storage Report showing a net injection of 79 billion cubic feet into storage for the week ended April 24, down from 103 Bcf the prior week, and falling short of forecasts of 83 Bcf, according to data compiled by Investing.com.At the same time, production has dropped over the past week by 2 Bcf per day, dropping to a 12-week low of 107.6 Bcf per day, according to TradingEconomics.US LNG feedgas deliveries are near-record levels, but have edged lower at 18.03 Bcf per day, according to estimates by the Bloomberg LNG Feedgas Model, compared to the 30-day moving average at 19.48 Bcf.Nearly two-thirds of the country is expected to see above-normal temperatures from May 11 to May 17, compared to below-normal temperatures in recent weeks, according to the National Weather Service.According to NRG Energy, this could turn bullish, as a warm West and Midwest during this period often translates into higher early-summer cooling demand.

Commodities51d ago

Arcadia to Acquire Engie Impact for Expanded Utility Management

Arcadia, an energy intelligence platform, said Friday it will acquire Engie Impact for an undisclosed amount, to develop a unified solution for managing full lifecycle utility data, from bills payment to energy procurement.The combined platform is expected to aggregate massive amount of data, serving more than 1,500 enterprises and processing over $30 billion in annual utility payments.Services to customers of both companies will remain uninterrupted during the integration period, according to the statement.Engie Impact is the utility expense, data management, energy procurement, and sustainability advising arm of French utility Engie.

Commodities51d ago

Biofuels Update: Stronger Crude Oil Prices Lift Soybean Oil, Palm Oil

Chicago soybean oil and Malaysian palm oil traded higher on Monday, driven by a rally in crude oil prices due to concerns over prolonged supply disruptions related to conflict in the Middle East.The July soybean oil contract on the Chicago Board of Trade hit new contract highs and rose 0.17% to 75.29 cents per pound in early trade. The May soybean contract also climbed 0.56% to $12.10 per bushel.Soybean oil futures have recorded monthly gains since January, as the US approved higher biofuel blending levels and following the outbreak of conflict in the Middle East in late February.Soybeans have tracked stronger soybean oil prices, although ample supply availability has continued to cap gains.Brazil was entering its peak export season, with its record crop of around 180 million metric tons almost completed, according to multiple media outlets.Offsetting robust supply sentiment were weather-driven delays in Argentine harvesting and US soybean planting.Argentina's harvest reportedly lagged at 18.3% versus seasonal average of around 60% due to late-season rains.Wet conditions also caused delays in planting in the central and eastern US grain belt, although the country's overall pace has exceeded historical averages, agriculture data showed.In Asia, Malaysian palm oil futures reached one-week highs as they tracked gains in the crude oil and soybean oil market, according to Iceberg X trader David Ng, as cited by Dow Jones.The Bursa Malaysia Derivatives' June crude palm oil contract climbed 1.10% to 4,590 Malaysian ringgit ($1,161.29) per metric ton. The July contract gained 1.14% to 4,622 ringgit/mt.Trading resumed following a public holiday on May 1 but news on supply and demand was limited with the Chinese market closed for May Day holidays. The Dalian exchange is set to open on May 6.A 15.7% to 16.8% month-over-month decline in Malaysian shipments for the April 1-25 period, as reportedly estimated by cargo surveyors, capped price gains. Malaysia's industry body will release monthly data on May 11.Lower exports in April reflect typical post-festive weakness, according to Trading Economics. In March, exports jumped 40.7% from a month earlier, industry data showed, as buyers advanced purchases due to the expected surge in shipping costs and as volumes of rival Indonesian cargoes softened due to higher export levies.With a recent strengthening in the local currency, export demand may remain under pressure due to rising costs for foreign buyers.Indonesia's planned increase in its biodiesel blend to 50% from the current 40% will reduce exportable supplies and may improve competitiveness of Malaysian cargoes.Palm oil supplies to the global market could also shrink if Indonesian output declines due to concerns over the El Nino weather phenomenon and rising fertilizer costs. Eddy Martono, chairman of the Indonesian Palm Oil Association, cautioned of a possible 1 million to 2 million ton drop in Indonesian production this year, relative to 2025 levels, Reuters reported.Meanwhile, in the near term, production in Indonesia and Malaysia may still rise versus Q1 lows due to seasonal factors.In the US, ethanol prices on the NYMEX rebounded almost 2% to $2.05 per gallon on Friday, as the market priced in a surge in weekly exports and a drop in output and inventories.

Commodities51d ago

Mobius Renewables Acquires Air Liquide's Biogass Assets Across US, France, Norway and Sweden

Mobius Renewables said on Monday it has closed the acquisition of biogas production assets from Air Liquide across the US, France, Norway and Sweden, expanding its renewable natural gas footprint as demand for low-carbon fuels grows.The deal includes six landfill gas-to-renewable natural gas sites in the US, five farm waste facilities in France, and a 51% stake in Redo Biosolutions, which operates production and distribution assets across Norway and Sweden.According to the company, this acquisition positions the company as a leading producer of RNG globally, with its total capacity now over 5.5 million metric million British thermal units.Mobius CEO Cynthia Walker said that focus will now shift towards optimizing operations and deploying capital into new projects, while highlighting the company's "unparalleled position" with the "right expertise, the right capital, and the right mindset to unlock value."

Commodities51d ago

Solar Provider Skycorp Diversifies Portfolio with 100% Stake in Nanjing Cesun

China's Skycorp Solar (PN) said Friday that it is acquiring the remaining 56% of Nanjing Cesun for $20.2 million and raising $3 million via a private placement to accelerate its expansion into inverters and energy management.The company signed a Share Acquisition Agreement on April 30, 2026 for the purchase, it said in a statement.The all-stock deal, coupled with a $3 million private placement, integrates inverter production and energy management systems into Skycorp's renewable energy portfolio.Skycorp will settle the consideration by issuing 7,983,000 new ordinary shares priced at $2.52 per share. To ensure long-term alignment, the shares are subject to strict lock-up periods, it said.Parallel to the acquisition, Skycorp entered into Securities Purchase Agreements with three independent institutional investors to raise $3 million.

$PN

Commodities51d ago

Equinor Extends Drilling, Well Service Contracts on Maturing Norwegian Continental Shelf

Norwegian oil company Equinor (EQNR) has extended supplier agreements for drilling and well services totaling around 17 billion Norwegian krone ($1.84 billion), it said on Monday, contracts the company says will help maintain output from the Norwegian continental shelf.The company said it was exercising one-year options under the three contracts and two-year options under 18 corporate framework agreements for specialist services linked to these deals.The latter specialist services are worth about 4.3 billion krone over two years and the drilling and well service agreements about 8.3 billion.The contracts were awarded to Baker Hughes Norge, Halliburton and SLB Norge while these companies plus another 15 suppliers have been awarded the agreements for specialist service provision.Equinor said the services these companies provide are of growing importance given the maturity of the shelf, meaning more work is required there to sustain production levels.The company aims to be approach 2035 with output of around 1.2 million barrels a day and it estimates about 70% of this will come from new wells by then, it said.

$EQNR

Showing 1461-1480 of 2053

Commodities51d ago