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DAILY ENERGY NEWS | 05/19/2025
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** Weird how unreliable energy isn't attractive to investors or consumers without subsidies.
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Reuters ([link removed]) (5/16/25) reports: "The Netherlands will postpone tenders for two offshore wind farms with a total capacity of 2 gigawatts (GW) due to a lack of interest from potential bidders, the Dutch government said on Friday. The tenders had originally been planned for September. The government said it would now only open a tender for one location in the North Sea with a capacity of 1 GW then. The government said it was still looking into ways to reintroduce subsidies in its tenders for offshore wind farms, as prospective bidders are backing out of the current 'zero subsidy' model. Climate minister Sophie Hermans said detailed plans for the future tenders would be presented by the third quarter, after having missed her earlier announced mid-April deadline."
[link removed]
** "Uranium & vanadium are key components of American national security that are used in U.S. Navy nuclear reactors, medical applications, nuclear weapons, steel production, and commercial and military aircraft. It is crucial that we produce more Energy Dominant minerals in America!"
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– Interior Secretary Burgum ([link removed])
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It would be sad if Russia wasn't such a bully.
** Rigzone ([link removed])
(5/15/25) reports: "Russia’s oil-export revenues in April fell to the lowest in nearly two years as global crude prices declined amid sluggish demand, according to the International Energy Agency. The nation earned $13.2 billion from the export of crude oil and petroleum products last month, the lowest since June 2023, the Paris-based agency said in its monthly market report on Thursday. Russia’s budget is especially vulnerable to oil-price declines, as the oil and gas industry account for roughly 30% of its revenues. The nation’s budget deficit widened in April, underscoring the Kremlin’s financial challenges if oil prices remain lower for longer amid record levels of spending on the war in Ukraine. The agency estimated Russia’s total crude production in April growing to 9.3 million barrels a day, boosted by higher exports and a recovery in Russian oil-processing volumes."
Hey Taiwan, we've got what you need.
** Financial Post ([link removed])
(5/19/25) reports: "Taiwan is seeking liquefied natural gas shipments following the shutdown of its last nuclear reactor, a move that will increase the island’s reliance on the seaborne fuel. CPC Corp. is looking for three cargoes for August and September delivery, according to traders with knowledge of the matter. The tender comes after the island closed its last nuclear reactor on Saturday due to the expiration of its 40-year operating license. The state-owned oil and gas company also purchased at least one LNG shipment for June to July delivery this month, according to traders. The final nuclear shutdown will further expose the island, which is home to some of the world’s top chipmakers, to LNG price fluctuations, according to Aniket Autade, a senior analyst from Rystad Energy."
** ([link removed])
Freddie Scott - (You) Got What I Need 1968
Making LNG great again.
** Department of Transportation ([link removed])
(5/19/25) reports: "Transportation Secretary Sean P. Duffy and Louisiana Sen. John Kennedy (R-LA) announced a new project today to promote President Trump’s energy dominance agenda. In line with the president’s order to build in America again, McNeese State University in Lake Charles, La. was selected as the site of the PHMSA National Center of Excellence for Liquefied Natural Gas (LNG) Safety. McNeese is the first undergraduate institution in the U.S. to offer a certificate program in LNG Business and is already the site of its own LNG Center of Excellence. PHMSA’s LNG Center of Excellence will facilitate research and development, training, and regulatory coordination, and will encourage the development of LNG safety solutions to real-world challenges through global and domestic collaboration among LNG stakeholders. PHMSA and other federal agencies – including the U.S. Coast Guard, the U.S. Department of Energy, and the Federal Energy Regulatory Commission – have worked together to help
ensure the Center is focused on its mission of making the United States the leader in LNG operations."
Energy Markets
WTI Crude Oil: ↑ $62.39
Natural Gas: ↓ $3.16
Gasoline: ↓ $3.17
Diesel: ↓ $3.53
Heating Oil: ↓ $212.90
Brent Crude Oil: ↑ $65.21
** US Rig Count ([link removed])
: ↑ 617
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