Investors assess US-Canada Trade Talks and TSX increases
Investors assessed the revival in trade talks between Washington & Ottawa. The S&P/TSX Composite index rose 0.2% to 26733.42 point, logging its fourth consecutive quarter of positive growth. Donald Trump called off Friday's trade talks over Canada’s digital services tax that targets U.S. tech firms. He described it as a "blatant" attack. Canada scrapped its tax late Sunday night…
What is in the Republican tax plan and spending plan
The Republican-led House of Representatives passed a comprehensive budget package which would meet many of the priorities of President Donald Trump. The Republican-led Senate will now consider the package, and it is likely that significant changes will be made. The Congressional Budget Office and the Joint Committee on Taxation have provided cost estimates for the main elements of the package.
OPEC+ targets US shale again with output increases
Saudi Arabia and Russia, the group's leaders, are also pushing a secondary objective behind OPEC+’s plan to increase oil production and punish overproducing allies: taking on U.S. shale to win back market shares from the United States. OPEC’s last price war against U.S. producers ten years ago failed, as technological and drilling breakthroughs allowed U.S.
What is in the Republican tax plan and spending plan
Republicans in Congress are advancing a sweeping package of budget cuts and spending reductions that would meet President Donald Trump's demands. However, details need to be worked out. The Joint Committee on Taxation (JCT) and the Congressional Budget Office have estimated the impact of this plan on the budget for the next ten years. (Cost: $2.2…
What is in the Republican tax plan and spending plan?
Republicans in Congress have proposed a sweeping package of budget cuts and spending reductions that would meet President Donald Trump's demands. However, details are still to be worked out. The Joint Committee on Taxation (JCT) and Congressional Budget Office have estimated the major components of the package as well as the impact on budgets over the next ten years. The list excludes smaller elements from each section.
What is in the Republican health and tax plan and what's not?
Republicans in Congress released the first drafts of a sweeping package to reduce taxes and spend less, which would satisfy President Donald Trump’s call to do so. However, many details need to be worked out. Here's a summary on what they've proposed so far and what has been left out. Budget estimates for the next 10 year period are provided by both the Joint Committee on Taxation (JCT) and the Congressional Budget Office.
Republican US lawmakers support IRA energy tax credit
Republican U.S. legislators sent a letter on Thursday to the chair of the House Ways and Means Committee expressing their support for the tax credits that were boosted by former president Joe Biden's Inflation Reduction Act. This legislation was not voted for by Republicans. The letter was signed by a dozen Republican U.S. The letter from a dozen Republican U.S.
Rubio: An attack on Exxon or Guyana would be a 'bad day for Venezuela'
Marco Rubio, U.S. secretary of state during a Thursday visit to Guyana’s capital, said that it would be "a bad day" if Venezuela attacked its neighbor Guyana and the U.S. energy giant ExxonMobil. Guyana and Venezuela have been locked in a longstanding dispute over which country holds the rights to the area of Esequibo, spanning 160,000 square kilometers (62…
Irish Government approves floating LNG emergency facility
On Tuesday, the Irish government announced that it had approved the development of an emergency temporary facility for importing liquefied gas (LNG) and storing it. Ireland is one out of five EU members without domestic storage. The government says this is a problem in the event that one or both subsea interconnectors are damaged. The emergency reserve is a floating storage unit and regassification (FSRU) with a capacity of 170…
Novak: OPEC+ does not consider a delay in April's oil supply increase
RIA reported that Russian Deputy Premier Alexander Novak stated on Monday that OPEC+ producers do not plan to delay a series monthly increases in oil supplies scheduled to start in April. Bloomberg News reported Monday, citing delegates that OPEC+ (which groups the Organization of the Petroleum Exporting Countries, Russia, and other allies) was examining if it should postpone the increase in supply, despite the calls of U.S.
Sources say that OPEC+ is unlikely to alter its output policy at the Monday meeting of the panel.
OPEC+ will not change its plans to gradually increase production when it meets Monday, delegates told the producer group. This is despite President Donald Trump's request to OPEC and Saudi Arabia, which is de facto leader, to lower prices. The top ministers of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia or OPEC+ are scheduled to meet at 1300 GMT, on Monday.
S&P 500 reaches record highs on Netflix results and AI investment plans
Wall Street's major indexes rose Wednesday. The benchmark S&P 500 hit a record high as investors cheered the quarterly report from streaming video provider Netflix and technology shares rallied following the announcement of an artificial intelligence infrastructure plan for the private sector. Data pointing to an economy in which inflation is cooling…
Hess CEO will consider appealing FTC board seat ban in the future
Hess' CEO said on Wednesday that he will consider appealing to the Federal Trade Commission the ban on his taking a Chevron Board seat once the Trump Administration takes office. As part of an agreement that allowed for the acquisition, the FTC banned John Hess's appointment to Chevron’s board. Exxon Mobil, CNOOC and Hess's joint venture partners…
A group of armed men claims to have taken control of the rare earth mines in Myanmar
A group of rebels fighting Myanmar's ruling army has claimed control of a mine hub, a major supplier to China of rare earth oxides. This will likely disrupt shipments of materials used in clean technology and other technologies. In Kachin State, around the towns Panwa & Chipwe and adjacent to Yunnan Province in southwestern China, rare earth mining is concentrated.
Sources say that OPEC+ is discussing a delay in the planned increase of oil production for October.
Three sources within the group said that OPEC+ was discussing a possible delay to a planned increase in output next month, as oil prices have fallen to their lowest level in nine months. Oil prices are falling along with other asset classes due to concerns over a weakening global economy, and in particular soft data coming from China, which is the world's largest oil importer.
Sources say that OPEC+ is likely to continue with its planned production increase from October.
OPEC+ will proceed with a planned increase in oil production from October as Libyan outages, and pledged reductions by some members, to compensate for the overproduction, counteract the impact of sluggish consumer demand, according to six sources within the producer group. Eight OPEC+ member countries are expected to increase their output by 180,000…
Sources say that OPEC+ is likely to continue with its planned production increase from October.
OPEC+ will proceed with a planned increase in oil production from October as Libyan outages, and pledged reductions by some members, to compensate for the overproduction, counteract the impact of sluggish consumer demand, according to six sources within the producer group. Eight OPEC+ member countries are expected to increase their output by 180,000…
TSX sluggish as gains in CPI are offset by energy shares
Canada's main index of stocks was down on Tuesday, as the losses in energy shares tempered gains from consumer price data which showed that inflation had cooled to a low of 40 months in July. This raised hopes for a rate cut next month. At 9:56 am. The S&P/TSX Composite index rose 3.48 points or 0.02% to 23,119.87 ET (13.56 GMT), hovering near its record highs.
Digitalization: Leveraging Digital Innovation in Offshore Energy
There is an increasing expectation that oil and gas firms can demonstrate their value and efficiency through more data-centric processes, managing costs and reacting more quickly to changing market conditions. While the sector has typically been slow to adopt digital innovations, today’s offshore energy markets are fluid and fast-changing, and the ‘business as usual’ model will not necessarily yield the best future results.AI…
Energy @ Sea: Powering Up in the Blue Desert
Last year marked the beginning of the United Nations Decade of Ocean Science for Sustainable Development, lasting from 2021 until 2030. With 10 years comes 10 challenges—goals for regional, national and global participants to work towards for positive, collective impact on our oceans. Included in the 10 are ocean-based solutions for climate change…
