The Galveston LNG Bunker Port (GLBP) on the Texas City Ship Channel has received all necessary permits to operate a small-scale facility on the U.S. Gulf Coast for fueling ships with liquefied natural gas (LNG), company executives have told Reuters. Galveston LNG Bunker Port (GLBP) is a joint venture by Pilot LNG and Seapath Group, a subsidiary of the Libra Group, to develop, own, and operate the first dedicated small-scale LNG facility on the U.S. Gulf Coast to serve the growing clean-energy marine fuels market. Located on the Texas City Ship…

The Galveston LNG Bunker Port (GLBP) on the Texas City Ship Channel has received all necessary permits to operate a small-scale facility on the U.S. Gulf Coast for fueling ships with liquefied natural gas (LNG), company executives have told Reuters. Galveston LNG Bunker Port (GLBP) is a joint venture by Pilot LNG and Seapath Group, a subsidiary of the Libra Group, to develop, own, and operate the first dedicated small-scale LNG facility on the U.S. Gulf Coast to serve the growing clean-energy marine fuels market. Located on the Texas City Ship…

US Middle East envoy Steve Witkoff declared that the Donald Trump administration's "red line" in the nuclear talks with Iran is Tehran's ability to enrich uranium at any level, prompting Iran to say it will continue enrichment "with or without a deal." "We cannot allow even 1 percent of an enrichment capability," Witkoff told ABC on May 18, insisting any enrichment, even for civilian purposes, could enable weaponization. "Everything begins…with a deal that does not include enrichment…because enrichment enables weaponization. And we…

Norway announced on Monday a tender for three project areas for floating offshore wind in a highly-anticipated first competition for this type of renewable energy in the Nordic country.  The Norwegian Energy Ministry, which said earlier this year that it would bet on floating wind instead of fixed-bottom offshore wind, is now opening competition for project areas for offshore wind in Utsira Nord outside the coast of Rogaland off Norway’s southwest coast.   The installed capacity in each project area cannot exceed 500 megawatts…

Oil prices fell on Monday after the last of the big three credit rating agencies, Moody’s, downgraded its rating on the United States from AAA to Aa1, reigniting concerns about America’s economy and bond markets.  Moody’s Ratings on Friday downgraded the long-term issuer and senior unsecured ratings of the U.S. to Aa1 from Aaa and changed the outlook to stable from negative. The one-notch downgrade “reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly…

The European Union is facing additional costs of 10 billion euro, or $11.2 billion to refill its natural gas storage caverns this year. And this is the best-case scenario, according to the Financial Times. It cold end up being a lot more expensive. The reason for the much higher bill is the colder winter of2024-2025, which depleted the bloc’s natural gas reserves more than each of the prior two winters when the weather was milder than usual, allowing the EU to retain comfortable levels of gas in storage. Towards the end of this winter, however,…

The European Union is facing additional costs of 10 billion euro, or $11.2 billion to refill its natural gas storage caverns this year. And this is the best-case scenario, according to the Financial Times. It cold end up being a lot more expensive. The reason for the much higher bill is the colder winter of2024-2025, which depleted the bloc’s natural gas reserves more than each of the prior two winters when the weather was milder than usual, allowing the EU to retain comfortable levels of gas in storage. Towards the end of this winter, however,…

Goldman Sachs analysts have revised their outlook for global oil demand upwards, now expecting growth of 600,000 barrels daily this year and 400,000 barrels daily in 2026. The bank, however, maintained its oil price forecast at $60 per barrel of Brent crude and $56 per barrel of West Texas Intermediate for this year, Reuters reported, citing a new note. Brent crude was trading at over $65 per barrel at the time of writing, and WTI was trading at over $62. Goldman’s analysts expect the benchmarks to fall further next year, to $56 for Brent…

China produced 3.8% more coal this April than a year ago, at 389.31 million tons. This was down from a month earlier when production hit a record but still strong enough to cement coal’s role in the country’s energy mix. Coal imports in April fell by 16% amid weaker prices that stimulated consumption of domestic supply. Production over the first four months of the year stood at 1.58 billion tons, customs data cited by Reuters revealed. The number represented an annual increase of 6.6%. Over the same period, thermal power generation…