Commonwealth LNG Sales Agreement, Indonesia Biodiesel Mandates, BP: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

LNG
Reuters: Commonwealth LNG, Aramco Sign LNG Sales and Purchase Agreement - Saudi Aramco (Dhahran, Saudi Arabia) and Commonwealth LNG (Houston, Texas) have signed a long-term contract for the U.S. liquefied natural gas (LNG) developer to supply the world's largest oil exporter with 1 million metric tons per annum (MTPA), three people familiar with the deal tell Reuters. The deal includes an option for Aramco to double the volume to 2 MTPA. Commonwealth received permission to export LNG to countries without a free-trade agreement with the U.S. on Friday. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can learn more by viewing the related project reports. (Reuters)

FUELS
Indonesia Scraps Plans to Introduce B50 Biodiesel This Year - Indonesia has scrapped plans for a mandatory B50 grade of palm oil-based diesel this year and will stick with B40 owing to technical and funding concerns, government officials said on Wednesday, easing concerns over strains on global palm oil supplies. Indonesia had planned to launch the B50 grade--a blend of 50% palm oil-based biodiesel and 50% conventional diesel--in the second half of this year. Its mandate for B40, which uses a blend of 40% palm oil-based biodiesel, will remain in place. (Reuters)

EARNINGS
BP Flags Up to $5 Billion of Impairments from Low-Carbon Energy Projects - Oil major BP (London, England) expects to book US$4 billion to US$5 billion in fourth-quarter impairments, mainly tied to its low-carbon energy businesses, as it redirects spending to oil and gas to boost returns under new leadership including Chair Albert Manifold. BP's low-carbon portfolio also includes U.S. biogas producer Archaea (Houston, Texas) which BP bought in 2022 for US$4.1 billion. Citi analysts said they suspected impairments might be linked to this unit. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).