Clean-energy supporters blast US budget as a setback
Clean energy advocates decried Thursday the House of Representatives' final passage of the President Donald Trump tax cut bill as a reverse in the energy transition. Meanwhile, fossil fuel interests celebrated. The bill now goes to Trump's desk. Trump is expected sign the bill on Friday. The law…
Petroperu In Talks to Find Amazon Oil Block Partner
Peru's state-run oil company Petroperu is in talks with five firms, including Canada's PetroTal and U.S.-based Upland Oil and Gas, as it seeks a partner to reactivate a key Amazon oil block, a company executive said late Thursday.Tomas Diaz, manager of Petroperu's exploration and exploitation unit…
Exxon, Chevron acquires blocks in Brazil's environmentally-sensitive Foz do Amazonas basin
Exxon Mobil and Chevron on Tuesday took their first steps toward eventually exploring oil in Brazil's Foz do Amazonas basin, scooping up offshore blocks auctioned by the country in the promising but environmentally-sensitive area. This is the first time that a company other than Brazil's Petrobras has ventured into the biodiverse ecological area.
Malaysia PM pledges $10 billion for national grid upgrade
Anwar Ibrahim, Malaysia's Prime Minister, said that Tenaga Nasional had committed to upgrading the national grid infrastructure with 43 billion ringgit (about $10 billion). Anwar, who opened the Energy Asia Conference, said that the grid upgrade will help the country achieve its ambitions in artificial Intelligence and battery energy storage system.
Amazon will invest $13 billion over 5 years in Australia's Data Center Infrastructure
Amazon announced in a Saturday blog post that it will invest A$20 Billion ($12.97 Billion) between 2025 and 2029 in Australia to expand, maintain, and operate its data center infrastructure. This investment is expected to boost the country's artificial-intelligence capabilities. Amazon has made its largest technology investment in Australia.
German utility RWE announces partnership with tech giant Amazon
The German utility RWE announced on Thursday a strategic framework deal with tech giant Amazon, in which the utility will deliver clean energy and receive cloud services in exchange. Cloud services include artificial intelligence and data analysis in exchange for electricity provided by RWE's solar and wind facilities.
Petrobras CEO: Africa will be the main exploration region for Petrobras outside Brazil.
Petrobras wants to develop Africa as its primary region outside Brazil. The CEO of the state-run oil company said this in a broad interview on Thursday. Petrobras CEO Magda Chabriard said that Ivory Coast extended the "red-carpet" to Petrobras when it granted the company the preference for buying nine offshore exploration blocks on Wednesday.
UN agency: Tech giants' indirect emission has increased 150% in the last three years, as AI grows.
A United Nations report on Thursday said that indirect carbon emissions from four of the world's leading AI tech companies increased by an average of 150% between 2020 and 2023 due to power-hungry data centers. According to the International Telecommunication Union, the U.N. agency responsible for digital technologies…
UN agency: Tech giants' indirect emission has increased 150% in the last three years, as AI grows.
A United Nations report on Thursday said that indirect carbon emissions from four of the largest AI-focused tech firms, Amazon, Microsoft Alphabet, and Meta, increased by an average of 150% between 2020-2023 as they used more power to run energy-demanding servers. According to the International Telecommunication Union, the U.N.
Wall Street stocks finish flat after choppy trading, as Treasury yields decrease
U.S. stock prices finished Thursday little changed, erasing an initial decline, as Treasury yields eased from recent highs following the House of Representatives' passage of President Donald Trump’s tax and spending plan. Stocks were under pressure on Thursday as longer-dated Treasury yields dropped, which allowed stocks to breathe.
Petrobras wins in Amazon drilling but licensing is in doubt
The Brazilian environmental agency Ibama announced a decision on Monday that will allow state-run Petrobras to move closer to drilling oil in a highly sought after offshore region. However, it also came with a warning for future permits. The documents seen by us show that Ibama's Rodrigo Agostinho…
Haddad, Brazil's Haddad, supports research on oil deposits near the mouth of Amazon
Fernando Haddad, the Finance Minister of Brazil, said that while the search for oil near the mouth the Amazon River must continue in Brazil, any discoveries made should not slow down the country's transition towards cleaner energy. The mouth of the Amazon, a vast area stretching between Rio Grande do Norte (Northern Brazil) and Amapa (Southern Brazil)…
Norway's Wealth fund to engage Rio Tinto and South32 on environmental concerns
Norges Bank Investment Management, Norway's sovereign fund manager, has announced that it will actively engage mining companies Rio Tinto South32 in relation to their environmental practices. The Executive Board of the World's Largest Sovereign Wealth Fund said that it made this decision after receiving…
Norway's Wealth fund to engage Rio Tinto and South32 on environmental concerns
Norges Bank Investment Management, Norway's sovereign fund manager, has announced that it will actively engage mining companies Rio Tinto South32 in relation to their environmental practices. The Executive Board of the World's Largest Sovereign Wealth Fund said that it made this decision after receiving…
Indonesia wants fair and square trade in US tariff discussions
Indonesia's senior economic minister, and its top negotiator, said that it is prioritizing its national interests in ongoing negotiations about U.S. Tariffs. It wants to have a "fair-and-square" trade relationship. Airlangga hartarto, head of the delegation, and Sri Mulyani indrawati, finance minister…
Raoni, the indigenous leader of Brazil, says he opposes drilling for oil in Amazonia
Raoni Metuktire of the Kayapo tribe, an indigenous leader, said that Brazil should not explore for oil reserves in the Amazon because it could have a dangerous impact on the local communities. Raoni made his comments at Acampamento Terro Livre as the debate intensifies over Petrobras's bid to drill off the coast of Amapa in the Foz do Amazonas Basin…
US tech and retail stocks lead the rout following Trump's tariff blow
Apple, Walmart and Nike are among the U.S. megacap tech companies that led to a global meltdown after President Donald Trump announced new tariffs. The fears about a cost spike across many industries were heightened by these new tariffs. The tariffs threaten to disrupt the global trade order and upset businesses.
Due to Germany's increased solar output and weak demand, the price is slightly lower.
The European spot price for electricity was slightly lower on Friday as the main market Germany experienced higher solar intensity, a weaker demand and decreased gas-burning supply. This overrode anticipated gains in France. Guromarie Wyller of LSEG, an analyst, said that the fundamental situation…
Boeing, Apple and GE will join US business delegation to Vietnam next week list shows
A list of participants, including Boeing, Apple, and other top U.S. companies in tech, defence, and energy, will be joining a large mission to Vietnam, next week. This could be a sign of confidence, as Vietnam tries to avoid U.S. tariffs on trade. The US-ASEAN Business Council is an advocacy group that organizes the annual mission.
Petrobras animal center at Oiapoque will be ready for inspection by April
Documents seen by on Monday showed that the environmental agency Ibama should be able to inspect the veterinary center operated by Petrobras Brazil in the Amazon region in April. The center is designed to help animals in case of an oil spill. Petrobras has not yet met the demands of Ibama to build an animal care center near the Amapa state town of Oiapoque.
