What the commodity markets can look forward to from the Trump-Xi Summit
The trade in agricultural products, energy, and rare earths have become the major bargaining cards in the trade dispute between the United States and China. They are likely to be discussed again next week when President Donald Trump hosts his counterpart Xi Jinping at the White House. What else do we know?
Sources say Exxon is in advanced talks about returning to Venezuela's Orinoco Belt.
ExxonMobil has been in talks to return to Venezuela. The US energy giant is interested in the huge Petromonagas project, which was previously a part of the Orinoco Belt. It also showed interest in certain areas in the Carabobo Block. If finalized, a re-entry by Exxon into Venezuela would be a stunning?reversal?
Energy secretary: US energy company to announce Venezuelan investment
U.S. energy secretary Chris Wright said that a U.S. oil producer would?announce a'major investment 'into Venezuela on Wednesday. Foreign oil producers are moving joint ventures and sharing production contracts to Venezuela as part a sweeping energy reform. Meanwhile, new entrants – mostly U.S. based…
Bloomberg News reports that Radiant World has sued Glencore for $2 Billion.
Bloomberg News reported on Tuesday that Radiant World and Sapphire Minmetals filed a lawsuit in Singapore against London-listed Glencore, seeking $2 billion in damages. The chairman of the trading firm,?Rakesh?Sethi, said that Sapphire Minmetals (which was formerly part of Radiant World) would be joining forces with a Singapore-based iron ore broker to make the claim.
Bloomberg News reports that the US EPA is poised to repeal its carbon standards for coal and gas power plants.
Bloomberg News reported 'on Sunday that the U.S. Environmental Protection Agency was poised to formally repeal carbon emission standards for coal and gas-fired power stations. Bloomberg reports that the latest climate rollback could come as early as Monday, on the sidelines the G20 energy Ministers' Meeting in Houston,?Texas. Last year, the U.S.
Data centers are being built in Argentina's Patagonia, a region characterized by its windswept landscape.
Investors looking for mega data centers are increasingly interested in Argentina's Patagonia. They're attracted by its cool temperatures, renewable energies, shale-gas and vast stretches of empty land. While tech giants, known as hyperscalers, race around the world to?build servers farms and face roadblocks due to anti-data center campaigns…
New York Times Business News - August 31,
These are the most popular?stories from the New York Times business pages. These?stories have not been verified and we cannot?guarantee?their accuracy. On Sunday, the U.S. forces attacked two Iranian rocket launchers that were attempting to disperse mines in the Strait of Hormuz. This was the first military action known between the two countries within a month. The U.S.
The number of claims against Radiant World assets has doubled in the last decade, according to filings
Radiant World is one of the largest iron ore traders in the world. It has 21 registered creditors who have registered claims on its assets. This number will more than double before 2025. Bloomberg reported in late July that Vitol Group, Cargill and Glencore have ceased trading with Radiant World. Bloomberg…
Sources say that Glencore's exposure in Radiant World is more than $500 Million.
Radiant World is a company that Glencore, the London-listed miner and trader, has stopped doing business with. The exposure amounts to over half a billion US dollars, according to two sources who are familiar with the situation. Bloomberg reported that Vitol Group, Cargill, and other commodity traders…
Bloomberg News reports that KBC and Deutsche Bank have frozen some Radiant World Singapore bank accounts.
Bloomberg News reported that a number of Radiant World Singapore 'bank accounts have been frozen by Deutsche Bank and KBC Group NV, while other banks have suspended credit lines. The report cited people who were familiar with the matter to say that Rio Tinto SA and Vale SA had removed Radiant World from their list of approved customers.
Bloomberg News reported that Vitol Cargill and Glencore have cut their ties with RadiantWorld
Bloomberg News reported that Cargill and Vitol have stopped doing business with Radiant World, one of the world's largest iron-ore traders. Glencore has also stopped new business with Radiant World. The report cited people who were familiar with the matter as saying that two of the trading houses had…
Bloomberg News reports that HF Sinclair has sued the EPA over delays in a decision on biofuel exemption.
Bloomberg News reported that HF Sinclair was suing the U.S. Environment Protection 'Agency, citing a suit filed by the refiner, for 'continuing...to delay a...decision on exemptions from biofuel blending requirements. The 'American Fuel and Petrochemical Manufacturers', who represent U.S. refiners, took a similar approach.
Bloomberg News reports that HF Sinclair has sued the EPA over delays in a decision on biofuel exemption.
HF Sinclair has filed a lawsuit against the?U.S. Bloomberg News reported?on Friday that the Environmental Protection Agency continues to?delay a decision regarding exemptions from mandates for?biofuel blends?. The American Fuel and Petrochemical Manufacturers (which represents U.S. refining companies) took a similar position…
Bloomberg News reports that Devon Energy is considering a $4 billion sale for its Eagle Ford and Powder River assets.
Bloomberg News, citing sources familiar with the situation, reported that U.S. oil producer Devon Energy is considering a possible sale of its Eagle Ford and Powder River shale assets, which could fetch more than four billion dollars. Investors continue to pressure Devon Energy to focus on its core Permian…
Bloomberg News reports that Brookfield-backed Csquare priced its IPO at $21 a share.
Bloomberg News cited sources to report that the IPO price of Csquare, a data center provider, was $21 per share. Brookfield, a Dallas-based investor, may buy a part of the company, according to the report. Could not verify immediately the report. Outside of'regular hours of business, it was not possible to reach Csquare or Brookfield for a comment.
Trump's biofuel goals are becoming a reality, but US plants lag behind
The market is not keeping pace with President Donald Trump’s efforts to increase production of bio-based diesel and to deliver on his promises to farmers and rural areas. The production gap is a political and economic risk. A persistent shortfall may force renewable fuel credit prices to rise sharply…
Eastern and Central European countries call on EU to strengthen carbon fund for the poorer members
A letter obtained by? showed that Eastern and Central European countries, including Poland, Bulgaria and Romania, have asked the European Union to strengthen a fund which?helps EU poorer nations transition to cleaner energy. A letter seen by? showed that Brussels is preparing to restructure the EU's largest climate change policy.
Woodside Energy in Australia says that it has no knowledge of any Exxon Mobil proposal.
Woodside Energy, Australia's energy company, said on Monday that it was not aware of any?proposal by Exxon Mobil in the United States and had not been involved in discussions about a possible transaction. This is in response to recent media speculation. Woodside's share price fell by 2.7% on the Australian Stock Exchange in the early trading on Monday.
Western Australia opposes a possible Exxon acquisition of Woodside Energy
Roger Cook, Premier of the State, said that on Sunday, the West Australian government would try to prevent a takeover by Woodside Energy which involved moving its headquarters. Woodside has led the development of Australia's Liquefied Natural Gas industry since 1990. Bloomberg News, citing sources familiar with the situation, reported that ExxonMobil, a U.S.
Brazil's Raizen secures creditor support for $12.5 billion debt deal
Brazil's embattled Sugar and ethanol Producer?Raizen RAIZ4.SA said that it had secured enough backing from a number of?creditors, bondholders and other stakeholders to proceed with a restructuring out-of court totaling a?approximately?65 billion reais (12.57 billion dollars),?the biggest recorded restructurement in the country.