Japanese energy firm JERA is creating an oil storage company which will exclusively manage the operation of the national petroleum stockpiling bases that JERA currently operates, as the Middle East crisis has upended the oil procurement market in the resource-poor G7 economy of Japan. JERA Co., Inc. said on Friday it had established JERA Oil Storage as a dedicated operating company to manage the operation of national petroleum stockpiling bases currently operated by JERA and its affiliated subsidiaries under a joint contracting arrangement with…

Japanese energy firm JERA is creating an oil storage company which will exclusively manage the operation of the national petroleum stockpiling bases that JERA currently operates, as the Middle East crisis has upended the oil procurement market in the resource-poor G7 economy of Japan. JERA Co., Inc. said on Friday it had established JERA Oil Storage as a dedicated operating company to manage the operation of national petroleum stockpiling bases currently operated by JERA and its affiliated subsidiaries under a joint contracting arrangement with…

The Trump Administration’s pet project Alaska LNG may not be commercially investable as costs per production could be more than double the costs at most U.S. Gulf Coast LNG export projects, a Reuters analysis has found.  This week, the Trump Administration touted a $50-billion investment from South Korea for the proposed Alaska LNG project.  The entire project is estimated to cost between $44 billion and $55 billion in total, according to Glenfarne Group, the majority owner and developer of Alaska LNG.   South Korea disputed…

  Oil prices fell sharply on Friday as Europe moved closer to another emergency stock release under pressure from the Trump administration, with WTI dropping nearly 4% and Brent falling below $100. At 6:54 a.m. ET, WTI was trading at $89.36, down 3.78%, while Brent was trading at $99.79/barrel, down 2.46%. The selloff followed reports that European governments are discussing another coordinated release of emergency oil stocks as Washington pushes allies to put more barrels and diesel onto the market to ease the global fuel crunch. “We…

With three quarters of the current year in the books, the U.S. stock market is on track for a fourth consecutive year of double-digit gains, with massive AI infrastructure spending coupled with exceptionally strong corporate earnings growth giving the market a major boost. The S&P 500 has returned 11.8% year-to-date, with only Utilities (-7.7%), Consumer Discretionary (-6.3%), and Financial Sector (-2.5%) still in the red. Hardly surprisingly, the Energy Sector has emerged as the top performer amongst the market’s 11 sectors, managing…

China, already dominating the global lithium-ion battery market, plans to expand this position to solid-state batteries, too. The government in Beijing will seek to cut solid-state battery costs, boost their performance, and begin commercial production by 2030. “Over the next five years, the new-type battery industry is at a critical window for technological upgrading, and we must seize the strategic opportunities presented by technological and industrial innovation,” China’s Ministry of Industry and Information Technology said…

After years of stagnation in key developed markets, power demand is rising again at a pace not seen in decades as data centers, electrification, and industrialization drive a surge in electricity consumption. The Age of Electricity, as the International Energy Agency (IEA) put it in its 2026 Electricity report, is gathering pace, changing long-term assumptions and forecasts about power markets in all regions, and posing new challenges for policymakers, power generators, and grid operators. One common feature in the Age of Electricity is that power…

Venezuela’s oil exports fell nearly 9% in September to 1.08 million barrels per day as soaring tanker costs forced traders to demand steeper discounts and delayed cargoes leaving the country. Global trading houses, including Vitol and Trafigura, pressed PDVSA for better terms as freight costs chew into margins, and tanker reroutings added to shipping delays that had already accumulated over the summer. The United States took more Venezuelan crude despite the overall decline. Shipments rose to 629,000 bpd from 553,000 bpd in August. India…

China’s major refiners have suspended most refined fuel exports for October as Beijing prioritizes domestic supply security, removing another source of diesel, gasoline and jet fuel from an already severely constrained global market. PetroChina has cancelled several gasoline and jet fuel cargoes scheduled for October, while Zhejiang Petrochemical did not schedule exports during China’s week-long National Day holiday, Reuters reported, citing four people familiar with the matter. Beijing has yet to authorize October exports outside Hong…

China’s major refiners have suspended most refined fuel exports for October as Beijing prioritizes domestic supply security, removing another source of diesel, gasoline and jet fuel from an already severely constrained global market. PetroChina has cancelled several gasoline and jet fuel cargoes scheduled for October, while Zhejiang Petrochemical did not schedule exports during China’s week-long National Day holiday, Reuters reported, citing four people familiar with the matter. Beijing has yet to authorize October exports outside Hong…

Energy secretary Miatta Fahnbulleh is holding crunch talks with her American counterpart over Donald Trump’s threat to curb diesel exports to Europe. City AM understands that Fahnbulleh is in direct contact with US energy secretary Chris Wright to discuss a US move to potentially choke off diesel exports to Europe that threatens to upend supply and send prices at the pump soaring, a person familiar with the discussions said. The UK and Europe are being pressured by the Trump administration to tap into their emergency stockpiles of the fuel…

Exports of crude oil from the Middle East hit their highest level in September since the war with Iran began, reinforcing a trend of increased supplies despite Iranian attacks on shipping in the Strait of Hormuz, according to analysis of shipping and commodity market data by industry observers. But while crude levels have risen, the refinery bottleneck that has caused a global spike in diesel prices persists. European Union figures published on October 1 showed diesel pump prices at record levels. Prices have also surged in the United States despite…

Goldman analyst Carly Davenport views Amazon's nuclear power deal with Constellation Energy as "positive for industry broadly" as the "Powering Up America" theme and nuclear theme continue as Big Tech scrambles for the cleanest form of stable power to fuel data centers chip stacks.  Davenport said Constellation Energy's 20-year deal to supply Amazon with 690 megawatts from Maryland's Calvert Cliffs nuclear plant is positive for both the utility and the broader power complex.  Calvert Cliffs has two nuclear reactors, with…

The Bureau of Land Management will offer roughly 35,000 acres in California for oil and gas leasing on December 1, putting 43 parcels in Kern, Kings, Fresno and San Luis Obispo counties on the auction block, the agency said on Thursday. The sale follows BLM decisions in June that allowed federal oil and gas leasing to resume in its Bakersfield and Central Coast planning areas after years of litigation and environmental review. Most federal drilling in California already happens in Kern County. BLM says more than 95% of federal drilling in the state…

Canada is fast-tracking a proposed 1 million-barrel-per-day oil pipeline to the Pacific coast, giving Alberta another route to Asian buyers and another way around its overwhelming dependence on the U.S. market. Prime Minister Mark Carney said Thursday that Ottawa will list the project as one of national interest, sending it through a single federal review process that Ottawa aims to complete by September 1, 2027, potentially allowing construction to begin shortly afterward. The pipeline would run from Alberta to southern British Columbia, largely…

Canada is fast-tracking a proposed 1 million-barrel-per-day oil pipeline to the Pacific coast, giving Alberta another route to Asian buyers and another way around its overwhelming dependence on the U.S. market. Prime Minister Mark Carney said Thursday that Ottawa will list the project as one of national interest, sending it through a single federal review process that Ottawa aims to complete by September 1, 2027, potentially allowing construction to begin shortly afterward. The pipeline would run from Alberta to southern British Columbia, largely…

Canada is fast-tracking a proposed 1 million-barrel-per-day oil pipeline to the Pacific coast, giving Alberta another route to Asian buyers and another way around its overwhelming dependence on the U.S. market. Prime Minister Mark Carney said Thursday that Ottawa will list the project as one of national interest, sending it through a single federal review process that Ottawa aims to complete by September 1, 2027, potentially allowing construction to begin shortly afterward. The pipeline would run from Alberta to southern British Columbia, largely…

A company based in the United States just got one step closer to making nuclear fusion a reality. Commonwealth Fusion Systems (CFS), an MIT offshoot, just inked a deal with a Japanese producer of high-temperature superconductors (HTS) in the largest deal of its kind in history. The contract is going to bring the company’s tokamak fusion device a step closer to commercial reality at a pivotal point in the global race to unlock the technology hailed as the holy grail of clean energy. This specialized tape is a critical material for making tokamaks…

Andy Burnham promised to be “pragmatic” about drilling in the North Sea in his conference speech. Those in Aberdeen say there’s not a moment to lose. Bedecked in her obligatory high-vis jacket and surrounded by hardhard-wearing oil and gas workers, Miatta Fanbulleh’s first ministerial trip was a striking piece of political symbolism. Just three days on from being named Andy Burnham’s energy secretary, the former think tank chief had managed achieved something that took her predecessor Ed Miliband more than four months:…

If you only looked at the price of the fuel, you'd think the nuclear trade has never been better. Long-term uranium prices are sitting at $96/lb, an all-time record and up ~12% YTD, taking out the $95/lb high set in mid-2007 at the peak of the last uranium mania (per UxC data compiled by TD Cowen). Spot has followed along to roughly $90/lb, up ~11% YTD. If, however, you looked at anything with a ticker attached to it, you'd think the nuclear renaissance had been quietly cancelled somewhere between the "AI will need infinite power" phase and the…