2025-11-07 12:47

NEW DELHI, Nov 7 (Reuters) - India's top gas importer Petronet LNG (PLNG.NS) , opens new tab will receive 500,000 tons of liquefied natural gas (LNG) in 2026 in its 1.2 million ton per year supply deal with ExxonMobil (XOM.N) , opens new tab from Australia's Gorgon project, its managing director said on Friday. Petronet already imports 1.42 million tons per year of LNG from the Gorgon project, in which ExxonMobil has a stake, under a separate long-term contract with the U.S. oil major. Sign up here. The first cargo under the new 15-year deal, which was agreed in 2017, is expected to arrive between March and April next year, Managing Director A.K. Singh told a press conference. ExxonMobil will deliver about eight cargoes to Petronet in 2026, Singh said. The volumes will gradually increase over three years to 20 cargoes annually, equivalent to 1.2 million tons per year, he said. Singh said global LNG prices could hover around $11-$12 per million British thermal units if the winter is severe, but expects prices to soften in 2026 as more supply comes online globally. Indian companies are investing in their gas infrastructure as the country aims to raise the share of natural gas in its energy mix to 15% by 2030 from the current 6.2%. Petronet plans to complete the expansion of its Dahej LNG import terminal in western India to 22.5 million tons per year by March 2026, Singh said. It also operates a 5 million-ton-per-year LNG terminal at Kochi in southern India and is building a new 4-million-ton-per-year plant at Gopalpur in easter Odisha state. https://www.reuters.com/business/energy/indias-petronet-lng-get-500000-t-lng-exxon-2026-under-new-deal-2025-11-07/

2025-11-07 12:46

HELSINKI, Nov 7 (Reuters) - Finnish petrol station chain Teboil, owned by Russia's Lukoil, is running out of fuel as U.S. sanctions against its parent company prevented it from doing business, daily Helsingin Sanomat reported on Friday, citing a Teboil spokesperson. U.S. President Donald Trump on October 22 hit Rosneft and Lukoil with sanctions in a sharp policy shift on Moscow's war in Ukraine, and said companies doing business with subsidiaries of the two groups could also be sanctioned. Sign up here. A deal for Swiss commodity trader Gunvor to buy Lukoil's foreign assets collapsed on November 6 after the U.S. Treasury called it Russia's "puppet" and signalled Washington opposed the deal. Lukoil is struggling to keep operations running at its sprawling foreign businesses, including in Iraq, Finland and Switzerland, sources have said. "We are running down our fuel stocks, which means some stations are already out of certain fuel types and the number of such stations is growing daily," Toni Flyckt, Teboil's marketing and communications director, told HS. Teboil did not immediately respond to a request for comment. Finland's Financial Supervisory Authority last month said banks and other Finnish institutions subject to its regulations should exercise caution in dealing with Lukoil and companies directly or indirectly owned by it. Teboil, which is fully owned by Lukoil, has 430 Finnish stations according to its website, or roughly one fifth of the Nordic country's 2,250 stations according to a 2024 report by an industry group. The company's revenue fell in recent years as some Finns said they chose other stations due to Teboil's link to Lukoil, declining to 1.61 billion euros ($1.88 billion) in 2024 from 2.36 billion euros in 2022, its annual reports show. The Kremlin said on Friday that Lukoil's international interests should be respected. ($1 = 0.8575 euros) https://www.reuters.com/business/energy/lukoils-finnish-fuel-stations-are-running-dry-due-sanctions-daily-hs-reports-2025-11-07/

2025-11-07 12:24

Nov 7 (Reuters) - Democratic victories this week have caught investors' attention, signaling a potential comeback after the party's bruising defeat during last year's election. A strong showing for congressional Democrats at the midterm elections in 2026 could push and revive policies favoring sectors sidelined by the GOP. Sign up here. While Trump would still have to sign any legislation, control of one or both chambers of Congress would hand Democrats command over key committees, giving them the power to launch investigations and call Trump officials to Capitol Hill for public hearings. Although markets are not pricing a full shift yet, investors are watching some key sectors. ENERGY AND CLEAN ENERGY A Democratic victory in either chamber of Congress could slow or reverse some of President Trump's measures against clean energy projects. Investors withdrew a record $8.6 billion from global sustainable funds in the first quarter, according to research from Morningstar, which attributed the outflows largely to Trump's shift against climate and social initiatives. The industry has since regained its footing , opens new tab, helped by surging energy demand from the rapid growth of artificial intelligence, which requires massive power for data centers. The U.S. president has championed fossil fuels, pledging to "drill, baby, drill" as part of a plan to boost oil and gas output. His administration also withdrew the U.S. from the Paris climate accord and scrapped $7.56 billion in funding , opens new tab for clean energy projects it said would not deliver adequate taxpayer returns. Democrats, who have championed climate action, are expected to try to block much of that agenda if given the chance. HEALTHCARE Healthcare has been a major political flashpoint and a key factor behind the ongoing U.S. government shutdown, now the longest ever. If Democrats took the Senate next year, they would likely revive efforts to expand the Affordable Care Act, strengthen Medicaid funding and push back against Trump's attempts to roll back coverage mandates. Such a shift would likely benefit health insurers with large Medicaid and Affordable Care Act businesses. Hospital chains could also gain from higher insured patient volumes. CRYPTOCURRENCIES The crypto industry and many tokens have boomed under President Trump's crypto-friendly administration, with bitcoin reaching multiple new highs. Democrats have opposed its light-touch stance, warning of fraud, market manipulation, money laundering and other risks. After Tuesday's strong showing, Democrats may negotiate harder on a major crypto bill in the Senate, potentially weighing on some crypto tokens and listed crypto exchanges. If they win the Senate next year, they may ramp up scrutiny of any moves by the securities regulator that could give crypto companies a free hand to launch new products. FINANCIALS The banking industry has benefited from looser oversight of deals under Republican agencies, de-regulatory efforts aimed at freeing up bank capital and the weakening of the Consumer Financial Protection Bureau, which oversees consumer lending. The S&P 500 banks index (.SPXBK) , opens new tab has jumped over 22% so far this year, outperforming the benchmark S&P 500 index's (.SPX) , opens new tab 15.6% gain. A Senate led by Democrats would have more power to interrogate and potentially slow the de-regulatory changes. BIG TECH Progressives in Congress would also likely renew efforts to rein in Big Tech, whose market dominance has expanded dramatically. Rapid advances in artificial intelligence, meanwhile, have deepened their influence. While the current administration has focused on ensuring the U.S. stays ahead of China in the AI race, Democrats may take a harder line, scrutinizing Big Tech partnerships more closely and tightening antitrust oversight. https://www.reuters.com/world/us/democrats-potential-resurgence-puts-investors-watch-policy-shifts-2025-11-07/

2025-11-07 12:22

Nov 7 (Reuters) - Enbridge (ENB.TO) , opens new tab missed third-quarter profit estimates on Friday, pressured by higher financing costs from capital investments including U.S. gas utility acquisitions, sending its shares down nearly 2% in premarket trading. The Calgary-based pipeline operator had bought three Dominion Energy (D.N) , opens new tab utilities last year — East Ohio Gas, Questar Gas and Public Service Co of North Carolina — in a $14 billion deal, including debt. Sign up here. It reported adjusted core profit of C$2.31 billion ($1.65 billion) from its liquid pipelines unit, down from C$2.34 billion a year earlier, due to lower contributions from the Flanagan South and Spearhead pipelines. The company's Mainline system, the largest pipeline network in North America, saw third-quarter adjusted core profit marginally fall to C$1.34 billion due to lower toll pricing. The system has the capacity to move 3 million barrels per day of crude from Western Canada to markets in Eastern Canada and the U.S. Midwest. Enbridge sanctioned roughly C$3 billion in new projects during the quarter and its growth backlog now sits at about C$35 billion. It reaffirmed its 2025 adjusted core profit to be between C$19.4 billion and C$20.0 billion. The company said it did not expect tariffs to have a material impact on its current operations or deployment of capital, but would continue to monitor trade developments. Enbridge reported adjusted profit of 46 Canadian cents per share for the quarter ended September 30, missing analysts' average expectation of 51 Canadian cents per share, according to data compiled by LSEG. ($1 = 1.4024 Canadian dollars) https://www.reuters.com/business/canadas-enbridge-misses-third-quarter-profit-estimates-2025-11-07/

2025-11-07 12:07

Marshall Islands-flagged LNG tanker outruns pirate speedboat Incident occurs near site of pirate attack on Thursday EU dispatches warship as fears of piracy resurgence grow ATHENS, Nov 7 (Reuters) - A liquefied natural gas tanker successfully outran pirates approaching it in a speedboat off the coast of Somalia on Friday, maritime security sources said, as worries grow of a resurgence of piracy after years of calm. A recent spate of armed attacks on vessels in the region, including the first involving suspected Somali pirates in a year, has revived concerns over the security of shipping lanes used to transport critical energy and goods to global markets. Sign up here. Friday's incident occurred close to the area of an attack a day earlier targeting the Malta-flagged products tanker Hellas Aphrodite, an official with maritime security firm Diaplous said. The Marshall Islands-flagged LNG tanker, which maritime security sources identified as Al Thumama, reported an approach by a small craft with three people on board, British maritime risk management group Vanguard and maritime security sources said. The master reported that the tanker, which was en route from Ras Laffan, Qatar to Swinoujscie, Poland via the Cape of Good Hope, outran the speedboat, the sources said. The vessel's operator, Japan's NYK LNG Shipmanagement, declined to comment. EU DISPATCHES WARSHIP TO TROUBLED SOMALI WATERS It was unclear whether pirates remained on the Hellas Aphrodite on Friday. Its crew took refuge in a fortified safe room when it was boarded on Thursday, though they retained control of the vessel. The European Union's naval force despatched a warship to the area. It was expected to arrive on Friday. Though once a major menace around the Gulf of Aden and Indian Ocean, Somali pirate gangs have been relatively inactive in recent years following a coordinated crackdown by Western naval forces and military action targeting their onshore bases. More recently, Yemen's Iran-affiliated Houthi militia has posed a greater threat to shipping through the Red Sea, which leads into the Gulf of Aden. The group first launched attacks on commercial ships in November 2023 in solidarity with Palestinians over Israel's war in Gaza. While the Houthis have agreed to a truce on targeting U.S.-linked shipping, many shipping companies remain wary of resuming voyages through those waters. That diversion of maritime vessels has pushed traffic south along East Africa's Indian Ocean coastline, creating opportunities for attacks by Somali gangs, maritime security sources said. https://www.reuters.com/world/china/lng-tanker-evades-pirates-off-somalia-attacks-escalate-maritime-sources-say-2025-11-07/

2025-11-07 11:54

Nov 7 (Reuters) - Duke Energy (DUK.N) , opens new tab beat Wall Street estimates for third-quarter revenue and profit on Friday, helped by higher electricity rates and strong power demand, with the U.S. electric utility signing more deals to supply energy-intensive data centers. The technology industry's AI data centers, combined with the accelerating electrification of homes and businesses, are expected to push U.S. power demand to record levels in 2025 and 2026, according to the U.S. Energy Information Administration. Sign up here. Duke, which primarily operates in the Carolinas, has signed about three gigawatts worth of energy service agreements with data centers this year, including deals with Digital Realty and Edged in the reported quarter. The company has more data center deals in its pipeline, Chief Financial Officer Brian Savoy told Reuters, without disclosing the number of the potential agreements. "I think you’ll see the three gigawatts grow in a meaningful way as we move through the quarters," Savoy said. One gigawatt is enough to power about 750,000 homes. UTILITIES UPGRADE CAPACITY To meet this rising demand, power companies have accelerated plans to upgrade electrical systems, install electrical lines and build power plants. Duke plans to add over 13 gigawatts of energy capacity over the next five years, and the company expects to earn in the upper half of its 5% to 7% profit growth range starting in 2028, CEO Harry Sideris said during a post-earnings call. He added that the company's refreshed five-year capital plan, expected in February, will range between $95 billion and $105 billion. Duke is weighing the addition of large traditional reactors and next-generation nuclear reactors and extending some coal plants to meet surging power demand in the Carolinas. In Florida, Duke expects to recover around $1.1 billion in storm-related costs by February next year. Adjusted earnings from the company's electric utilities segment for the reported quarter were $1.69 billion, up from $1.46 billion in the year-ago quarter. Duke narrowed its full-year adjusted profit forecast to between $6.25 and $6.35 per share from its prior view of $6.17 to $6.42 per share. Quarterly revenue came in at $8.54 billion, ahead of analysts' estimate of $8.50 billion, as per data compiled by LSEG. The Charlotte, North Carolina-based company posted an adjusted profit of $1.81 per share for the three months ended September 30, compared with estimates of $1.75 per share. https://www.reuters.com/business/energy/duke-energy-beats-quarterly-estimates-higher-electricity-rates-2025-11-07/