Dutch and British wholesale gas prices rose on Thursday morning on cooler temperatures and supply concerns, despite solid storage inventories. The benchmark front-month contract TRNLTTFMc1 at the Dutch TTF hub was up 1.5 euros to 30.18 euros per megawatt hour (MWh) at 1009 GMT, while the day-ahead contract TRNLTTFD1 was 1.4 euros higher at 29.9 euros/MWh, according to LSEG data. In the British market, the June contract TRGBNBPMM4 was up 3.19 pence to 73 pence per therm, LSEG data showed. Temperatures are expected to edge down in the day ahead ...

Russian natural gas production rose by 9.4% in the first three months of this year from the same period a year ago to 196.9 billion cubic metres (bcm), Kommersant newspaper reported on Thursday, citing sources familiar with energy ministry statistics. In March alone, Russian companies produced 65.4 bcm of gas, up 7.9% compared to March 2023, Kommersant reported. Russia classified or delayed publication of some key statistics after Moscow sent its troops into Ukraine in February 2022. Source: Reuters (Reporting by Reuters; Editing by Jamie Freed)

Russia’s natural gas producing giant Gazprom plunged to a net loss of 629 billion roubles ($6.9 billion) last year from a net profit of 1.2 trillion roubles in 2022, it said on Thursday, as gas sales to Europe more than halved. Analysts had expected net income of 447 billion roubles, according to Interfax news agency. Gazprom shares in Moscow were down around 3.3% at 1307 GMT. Russia’s gas exports to Europe, once its primary export market, have fallen sharply because of the political fallout from the conflict in Ukraine, while ...

Singapore’s middle distillates stockpiles were down 1.57% weekly to hit a two-week low amid rising net exports, official government data showed on Thursday. Stocks of diesel/gasoil and jet fuel/kerosene at key oil storage hub Singapore shrunk to 11.392 million barrels from 11.574 million barrels in the previous week, but was still a tad higher than the 10,136 million barrels recorded for the week ended April 17, figures from Enterprise Singapore showed. O/SING1 Diesel/gasoil net exports almost doubled, rising by 98% week-on-week, offsetting the 56% week-on-week reduction of jet fuel/kerosene net ...

Asia’s naphtha markets were steady on Tuesday as gains arising from falling oil prices were offset by lingering poor demand from downstream petrochemical units. The crack traded at about $51 per metric ton over Brent crude and the backwardation narrowed to $6.25 a ton. The price of first-half June naphtha weakened by about $5.50 to $715.25 per ton. A total of 25,000 tons of naphtha changed hands at the deals window in Singapore, market participants said. The gasoline crack in the region was also steady on Tuesday near $13 per ...

Dutch and British wholesale gas prices edged higher on Tuesday morning as falling demand due to warmer temperatures was offset by lower liquefied natural gas (LNG) supply and curbed flows of gas from Norway due to maintenance. The benchmark front-month contract TRNLTTFMc1 at the Dutch TTF hub was up 0.55 euros at 28.70 euros per megawatt hour (MWh) by 0825 GMT, LSEG data showed. The June contract TRNLTTFMc2 rose by 0.45 euros to 28.70 euros/MWh. Total north-west Europe LNG send-out was expected at 1,768 gigawatt hours/day (GWh/d) on Tuesday compared ...

Traders are rushing to fill up storage tanks along the U.S. East Coast with distillate fuels, like diesel and heating oil, data from storage broker The Tank Tiger showed on Monday, a sign of deepening oversupply that is weighing on refiners’ profits. Largely warmer-than-expected winter weather in U.S. Northeast and Europe has cut distillates demand andhit refiners’ margins across the globe in recent months, a factor that drove softer first-quarter earnings by oil majors and top independent refiners. Spreads between U.S. crude and diesel futures HOc1-CLc1, or “cracks” that reflect ...

Ukraine’s biggest natural gas producer state-run firm Naftogaz increased gas output by 12% in the first quarter of 2024 year-on-year despite constant Russian attacks on Ukrainian energy system, Naftogaz CEO said on Monday. “Our goal is to maintain this trend and achieve production growth by the end of the year,’ Oleksiy Chernyshov said in a statement. He did not provide exact volume figures. Naftogaz said its gas producing branch exceeded the existing plan and achieved the “highest production for the corresponding period over the past two years”. The company said ...

BP BP.L has entered into a long term liquefied natural gas (LNG) sale and purchase agreement with South Korea’s state run Korea Gas Corp (KOGAS) 036460.KS, the global oil major said on Monday. “Under the agreement, BP will provide KOGAS with up to 9.8 million tonnes of LNG over 11 years on a delivered ex-ship (DES) basis,” the company added. The deliveries will commence in mid-2026. This deal is in addition to the existing long-term sale and purchase agreement between the two companies signed in 2022. Source: Reuters (Reporting by ...

Dutch and British wholesale gas prices fell on Monday morning as demand-sapping warmer weather outweighed the impact of Norwegian outages while there was an easing in concern over wider supply risks that buoyed prices last week. The benchmark front-month contract TRNLTTFMc1 at the Dutch TTF hub was down 0.96 euros at 28.30 euros per megawatt hour (MWh) by 0810 GMT, LSEG data showed. The June contract fell by 0.70 euros to 28.61 euros/MWh. The Dutch day-ahead contract TRNLTTFD1 was down 0.80 euros at 28.20 euros/MWh. In the British market, the ...

China’s top energy producer PetroChina 601857.SS, 0857.HK posted a 4.7% rise in first-quarter net income on Monday helped by growth in natural gas and a recovery in fuel demand. Net profit attributable to shareholders rose to 45.68 billion yuan ($6.30 billion) from 43.6 billion a year earlier, a filing with the Hong Kong Stock Exchange showed. Revenue rose 10.9% at 812 billion yuan. Domestic peer CNOOC Ltd posted a record quarterly profit on strong output growth while refining giant Sinopec Corp posted a 8.9% fall in income as a weak ...

SK innovation Co.’s earnings growth was solid as its reliable sectors, including energy and chemicals, thrived on higher oil prices and better refining margins. But its battery subsidiary SK on Co. saw a setback due to the temporary stagnation in electric vehicle demand, resulting in a loss of 300 billion won or more. In its financial report released on Monday, SK innovation recorded an operating profit totaling 624.7 billion won ($452 million) for the first quarter of 2024, a 66.6 percent increase in compared to the same period in 2023. ...

Aggressive European bids have been met with scarce selling interest as sellers in the global LNG market wait for stronger buying interest from emerging demand hubs elsewhere, sources said. In recent weeks, buyers across Northwest Europe have been bidding higher to attract cargoes away from Asia and replenish inventories. Historically, as TTF prices rise, the differential to LNG would widen, while as TTF prices fall, the differential to LNG would narrow. However, differentials have stayed narrow as European buyers look to replenish stocks during injection season or take advantage of ...

Asia’s middle distillates markets kicked off the trading week at a similar fast pace from the last session, with traders also awaiting for a clearer direction on June demand-supply fundamentals. Some sporadic prompt May spot tenders emerged injecting further spot liquidity. The narrowing of the East-West arbitrage in the past two weeks however has encouraged some reverse flow of Middle East and India swing suppliers back to Asia Pacific, which will likely weigh on prices and spot discussion levels in the near term. At least two cargoes from India were ...

Asia’s naphtha margin extended gains from last week on Monday after crude oil prices fell, and buying activity improved in spot markets. The crack rose by about $5 to $54.23 per metric ton over Brent crude. The backwardation between the first-half June and the first-half July naphtha prices widened to $10.25 a ton from $7.25 on Friday. Traders said Korean and Japanese buyers have been active in spot markets, but premiums have fared in lower single digits. On the supply front, Middle Eastern supply, which had earlier contracted on rising ...