Mario Mehren

OMV operating profit falls to €1.05 billion in Q3 2024. Austrian OMV's adjusted operating profit fell 21% y-o-y in the third quarter, but strong performance in its chemicals division helped it avoid falling further. Austrian OMV reported adjusted operating profit of €1.05 billion for the third quarter, down around 21% from €1.33 billion a year earlier. However, the figure slightly exceeded analysts' consensus forecast of €1.04 billion. OMV's results were slightly better than expected, as improved performance in its chemicals division helped offset losses in the energy and raw materials business. And those, in turn, were due to lower refining margins. Profits were also affected by lower contributions from ADNOC Refining and Italy's Eni, due to weaker market conditions amid low oil prices. However, the company's chemicals division somewhat offset the negative impact, recording a net operating profit of €135 million compared to a loss of €11 million a year earlier, Reuters writes. OMV also cut its Brent crude price forecast for this year to a range of $80-85 per barrel from the previously expected $85. The company also cut its refining margin in Europe to about $7 per barrel from about $8, as well as the utilisation rate of European refineries from about 90% to just below 90%. Content Author: https://lnkd.in/e_h9wrp6 Source: https://lnkd.in/ejv9MVeZ #butov #oilgasmarket #oilgasworld #innovation #management #humanresources #technology #digitalmarketing #entrepreneurship #careers #socialmedia #socialnetworking #futurism #startups #branding #advertisingandmarketing #creativity #marketing #sales #motivation #energy #money #sustainability #productivity #gettingthingsdone #leadership #education #strategy #business #europe #mindfulness #inspiration #engineering #africa #india #europeanunion #china #smallbusiness #success #production #oilandgas #collaboration #contentmarketing #research #globaltrade #onlineadvertising #dubai #kenya #abudhabi #socialmediamarketing #manufacturing #climatechange #oilandgas #work #oilgas #science #logistics #hydrocarbons #shipping #growth #uae #marketresearch #oil #oilindustry #oilandgasindustry #agriculture #designer #oilfield #oilindustry #petroleum #trading #gas #chemistry #chemical #petrochemical #agro #refinery #import #export #industrial #agribusiness #quality 

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In a groundbreaking 𝐜𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐆𝐞𝐫𝐦𝐚𝐧𝐲's Deutsche ReGas and 𝐍𝐨𝐫𝐰𝐚𝐲's Höegh LNG have announced plans to develop the 𝐰𝐨𝐫𝐥𝐝'𝐬 𝐟𝐢𝐫𝐬𝐭 𝐟𝐥𝐨𝐚𝐭𝐢𝐧𝐠 𝐡𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐢𝐦𝐩𝐨𝐫𝐭 𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐥, set to be operational by early 2026. The 𝐇𝟐-𝐈𝐦𝐩𝐨𝐫𝐭-𝐓𝐞𝐫𝐦𝐢𝐧𝐚𝐥 𝐋𝐮𝐛𝐦𝐢𝐧 will convert green ammonia into approximately 30,000 tons of green hydrogen annually, leveraging Höegh LNG's innovative ammonia cracker technology integrated into a floating barge solution. This pioneering project aims to feed hydrogen into the core network via the 𝐃𝐞𝐮𝐭𝐬𝐜𝐡𝐞 𝐑𝐞𝐆𝐚𝐬 𝐓𝐞𝐫𝐦𝐢𝐧𝐚𝐥 𝐢𝐧 𝐋𝐮𝐛𝐦𝐢𝐧, supporting the decarbonization of industrial regions in eastern and southern Germany. Deutsche ReGas will oversee the on-shore infrastructure, coordination, and marketing, while Höegh LNG brings its technological expertise. 𝐈𝐧𝐠𝐨 𝐖𝐚𝐠𝐧𝐞𝐫, 𝐌𝐚𝐧𝐚𝐠𝐢𝐧𝐠 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 Deutsche ReGas, emphasized the terminal's role in advancing Germany's energy transition, while Erik Nyheim, 𝐂𝐄𝐎 𝐨𝐟 Höegh LNG, highlighted the importance of importing hydrogen for industrial decarbonization. This initiative not only reinforces 𝐌𝐞𝐜𝐤𝐥𝐞𝐧𝐛𝐮𝐫𝐠-𝐖𝐞𝐬𝐭𝐞𝐫𝐧 𝐏𝐨𝐦𝐞𝐫𝐚𝐧𝐢𝐚'𝐬 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 as a 𝐠𝐫𝐞𝐞𝐧 𝐞𝐧𝐞𝐫𝐠𝐲 𝐥𝐞𝐚𝐝𝐞𝐫 but also signifies a crucial step towards 𝐬𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐞𝐧𝐞𝐫𝐠𝐲 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬. #Greenhydrogen #Energytransition #DeutscheReGas #HöeghLNG #FloatingHydrogenTerminal #GreenAmmonia #Decarbonization #RenewableEnergy #IndustrialDecarbonization #HydrogenEconomy #SustainableEnergy #GermanyEnergy #NorwayInnovation #HydrogenImport #CleanEnergy NC: Offshore Energy

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European #LNG spot prices struggle to compete with oil, gas linked contracts 💡 NWE LNG near 10-month high vs oil-linked prices 💡 Cheaper contracts helping to feed European LNG imports European LNG spot prices have struggled to compete with oil-linked contracts as the overarching bearish sentiment in crude oil was battling the looming winter risks in the European natural gas and LNG markets, according to data from S&P Global Commodity Insights.

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Discussing the role of financial risk in the energy sector at ADIPEC, Christina Verchere, CEO, OMV Petrom said, “Oil and gas by nature is a risk taking business, a very measured risk taking business. Which is why I have always felt it is important that it is in the energy transition, because it is comfortable with taking risk”. Register at https://bit.ly/3CbddBN to attend ADIPEC 2025, taking place in Abu Dhabi from 3-6 November. #ADIPEC #ADNOC #EnergyTransition #Decarbonisation #DigitalTransformation #FinanceInvestment

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Christina Verchere, Chief Executive Officer and President, OMV Petrom, addressed a full conference theatre, on “Harnessing the green economic growth opportunity”. Christina commented: “We are ultimately an integrated oil and gas company but are changing our portfolio to be able to provide diversity to our customers." "We are looking at green hydrogen, as we see that hydrogen can have huge potential. But we also see that the business case is not there for hydrogen, so we are starting with using green hydrogen in our internal supply." Join the conversation at GET Congress today, from 09:00-18:00, and tomorrow from 09:00 to 14:00, at Allianz MiCo Gate 4 in Milan: https://lnkd.in/e9hi3syE #GETCongress #Decarbonisation #NetZero

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Taking a probabilistic view of future costs would be advisable.

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Cheniere Energy, Inc. announced that it had agreed to supply 800K metric tons/year of liquefied natural gas to Germany's BASF through 2043. The deal is part of a larger expansion plan for Cheniere, as the company has entered into supply deals with Norway's Equinor, KOREA SOUTHERN POWER CO., LTD. and China's ENN Natural Gas Co., Ltd., all in the last year. Natural gas and LNG have emerged as vital components on the modern energy mix, offering an affordable and stable source of energy with far less emissions than oil and coal. Following recent disruptions to traditional supply routes, the development of new collaborations in the natural gas and LNG sector is not only critical to global energy security and stability, but also to the long-term viability of the energy transition. Read the full article: https://lnkd.in/gT3WuiFs Gastech 2024, the world’s leading platform for natural gas, LNG, hydrogen, climate technologies, energy manufacturing, and low carbon solutions, will offer an unrivalled forum for leading energy ministers and executives to develop the partnerships that will redefine the entire industry, and lay the groundwork for the creation of a new global industrial age. Secure your delegate ticket now via https://lnkd.in/eFMSzp4E #Gastech #NaturalGas #EnergyTransition #LNG 

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How will the European natural gas market adjust to an oversupplied environment in Summer 2024? Register for our on-demand webinar to gain expert insights and foresights in energy market trends. Watch on demand at Argus Media: https://okt.to/wW3keX #gas #lng #LNGMarkets

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Gasunie, Vopak started consultation on EemsEnergyTerminal’s long-term LNG operations Gasunie and Vopak are exploring options to utilize the EemsEnergyTerminal in the Netherlands for longer than initially planned. The #consultation is intended to gauge market interest in importing LNG through the terminal beyond 2027, as well as to get an idea of the conditions market parties would set. Following the loss of #Russiangas and the end of #gas extraction from the #Groningen gas field, #securityofenergy supply for the #Netherlands and its neighbouring countries has changed drastically, Vopak said, adding that currently, roughly 75% of Netherlands gas needs are met by its imports. “As #LNG imports are expected to continue to be needed over the coming years, the LNG terminal is set to play a key role in the #transition to #renewableenergy.” The partners are also making plans for further #hydrogen development at the Eemshaven site and exploring options for #carboncapture. EemsEnergyTerminal started to import LNG in September 2022 as it was initially contracted for a period of five years, i.e. through to September 2027. The terminal’s capacity to import 8 BCM/Y of LNG covers around 25% of the Netherlands’ total annual #gasdemand. Work is currently going into gradually upping the terminal’s capacity to roughly 10 BCM/Y. Perfect information of the world’s LNG import/export projects such as “EemsEnergyTerminal LNG imports project” is available on the Global LNG Database®, to learn more click on https://lnkd.in/dSG73cW. To see more posts like this in your feed and stay up-to-date with what is going on in the LNG world, follow Global LNG Info on LinkedIn at https://lnkd.in/e442DdDn  #lngindustry #lngshipping #lngbunkering #gas #gasprices #gasindustry #gasprocessing #gasprocessing #construction #constructionindustry #constructionindustry #constructionjobs #work #network #europe #energysecurity #energypolicy #development #analytics #pipeline #project #globallngdatabase

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The 2024 election will be pivotal for US LNG, with big risks depending on whether Harris or Trump takes the White House. In a chat with NGI’s Jamison Cocklin, Rapidan’s Global Gas Service Director Alex Munton broke down these risks, especially the ones that fly under the radar. If Harris wins, the forces are sort of there for LNG to get “Keystoned,” Munton said, referring to the Biden administration’s decision to revoke a major permit for the Keystone XL oil pipeline. On the flip side, if Trump comes back we’ll see the permitting pause swiftly ended, but “expect a bigger, badder trade war, especially with China, and therefore retaliatory tariffs targeting U.S. LNG”. https://lnkd.in/gU9BS9yU #LNG #2024election #globalgas #trade #China

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