“With these decisions in hand, subject to a FERC Final Order, which we expect in July 2025, and DOE final authorization, Commonwealth anticipates reaching a final investment decision in September 2025, with first LNG production expected in Q1 [first quarter] 2029”, Commonwealth chief executive Farhad Ahrabi said in an online statement issued by the company.
The Chevron Vice Chairman noted in the statement that these reductions are in line with the company’s previous announcement “of $2 to $3 billion in targeted structural cost reductions by the end of 2026, with some residual impact in 2027 and beyond”.
Under the deals, production from the Cronos gas field, off Cyprus’s southwest coast, and Aphrodite, located to the southeast, will be transported to Egyptian liquefaction facilities at Idku and Damietta before being exported as liquefied natural gas. The signing of the memorandum of understanding was overseen by Egyptian President Abdel-Fattah El-Sisi and Cypriot President Nikos Christodoulides at a gas conference in Cairo.
MOL Group said in a media release that the quality of the products has been verified by radioisotope analysis by the independent specialist laboratory of Isotoptech Zrt, confirming the right ratio of HVO. The production test confirmed that MOL Group is technologically ready for the production of alternative synthetic fuels, it said.
Petroleo Brasileiro SA, as the company is formally known, is constantly under government pressure to shield consumers from volatility in the oil markets, while private investors fear the company would sacrifice profits to subsidize politically sensitive motor fuels as it has done in the past.
The Commission urged Bulgaria, Spain, France, Italy, Cyprus, the Netherlands, Slovakia, and Sweden to transpose EU rules accelerating permitting procedures for renewable energy projects. The rules, in Directive (EU) 2023/2413, amend the Renewable Energy Directive (Directive (EU) 2018/2001), providing new rules to simplify and shorten permitting procedures for renewable energy projects and infrastructure projects necessary to integrate additional capacity into the electricity system.
OPEC+ has not discussed delaying the increase in its oil supply currently planned to begin in April, Russian Deputy Prime Minister Alexander Novak said on Monday.
Early this month, the federal budget outlined plans for a significant push toward nuclear energy as part of India’s long-term energy transition strategy. The government now targets the country to have 100 GW of nuclear power generation capacity installed by 2047, “positioning nuclear energy as a major pillar in India’s energy mix,” the cabinet said.
“The terrorist strike was delivered using seven unmanned aerial vehicles loaded in addition to explosives with shrapnel. The attack was timed, aiming to not only disrupt service of the facility but also cause casualties among the station’s operations personnel,” CPC said in a statement.
U.S. gasoline prices have resumed their uptrend, with AAA reporting the national average at $3.161 per gallon of regular compared to $3.139 a week ago and $3.115 a month ago. The national average price of diesel has increased 0.8 cents and now stands at $3.632 per gallon.