EU meets in Belgian castle for economic rivalry with US and China
Leaders of the European Union gather at a castle in Belgium on Thursday to discuss how they can compete with a global competitor like China, and a less reliable allie like the U.S. as the rules-based order is thrown into disarray. Over the past two decades, EU growth has been consistently lower than US growth, with EU innovation and productivity, especially in AI fields, falling behind.
Andy Home, Andy Home: The US and Canada are now working together to secure critical minerals.
The U.S. president Donald Trump just announced "Project Vault", an $12 billion stockpile of critical minerals intended to protect U.S. manufacturing companies from disruptions in supply. The U.S. will need help to fill up the Vault's 60 critical minerals. The friend-shoring game is back and with a vengeance. As the U.S. tries to build a metal alliance to loosen China’s grip on the metals at the core of modern technology. The U.S.
Citgo struggles to determine its long-term strategy as the sale process is frozen, according to sources.
Citgo Petroleum, a U.S. refiner, is struggling to make important decisions regarding investments and finances because the sale of the Venezuelan parent company to an Elliott Investment Management affiliate has been frozen for months despite a U.S. court's approval of the deal. The Delaware court approved Elliott's Amber Energy affiliate's $5.9 billion offer for PDV Holding, the parent company of?Citgo?.
In January, US LNG imports accounted for almost half of Spain’s gas supply.
Data released on Tuesday showed that liquefied natural gases from the United States accounted for 44.4% of Spain's total imports of gas in January. This is a significant increase from last year. As Europe tries to reduce its energy imports from Russia following the invasion of Ukraine, the U.S. is now the dominant LNG supplier. Tariffs and the President Donald Trump's…
Saudi and US firms partner on northeast Syria Energy Project
According to two sources with knowledge of the plans, two Saudi Arabian firms and three U.S. companies are planning to form a consortium to explore and produce oil and gas in the?northeastern?Syria. The sources stated that Baker Hughes, Hunt Energy, and Argent LNG plan to partner with Saudi Arabia's ACWA Power, and TAQA to complete the project. It would cover four to five exploration blocks in the northeastern area.
Draft law shows that Germany wants renewable energy firms to pay for grid connections.
According to a draft of a law, the German government intends to charge renewables companies for connecting to the electric grid in order to meet 'the rapid?demand? for expansion. The move, which was first reported by Spiegel magazine, would replace the current ?system where companies are allowed to connect to the ?grid on a first-come-first-served basis. This is due to the sheer volume of grid connection requests facing grid operators in Germany.
What can oil prices tell you about the market? Not a lot: Bousso
The global oil market is experiencing a series of price spikes due to geopolitical tensions and the opaque stockpiling. Western sanctions and tightening Western sanction are also causing traders to be in the dark. Prices may not accurately reflect the physical fundamentals of commodities due to the growing influence of unpredictable external forces on this world's most liquid and largest commodity market.
Trump criticizes Olympic Skier for Comments about Representing US
U.S. president Donald Trump criticised American Olympic skier Hunter Hess, on Sunday. Days earlier, the athlete had expressed "mixed feelings" about representing the U.S. in the 'Winter Olympics' held in northern Italy. The presence of U.S. Immigration and Customs Enforcement personnel at the Milano Cortina Olympics has sparked political tensions. After two agents in Minneapolis were shot and killed last month…
Trump lashes out at Olympic skier for comments made about representing the US
Donald Trump, the President of the United States, criticised American Olympic skier Hunter Hess Sunday. This comes days after Hess expressed his mixed feelings about representing?the United States. The Winter Olympics are taking place in northern Italy. The presence of U.S. Immigration & Customs Enforcement (ICE) personnel at the?Olympics in Milano Cortina has sparked political tensions.
Sources: Eneva, a Brazilian company, is in negotiations with Maha to form a joint venture in Venezuela
Two sources who have direct knowledge of this matter said that Eneva, a Brazilian energy firm, is evaluating options to enter Venezuela's oil and gas sector. It is also in discussions with Maha Capital from Sweden about forming a joint venture. According to a source who did not want to be identified, the Brazilian oil and gas producer was in discussions with other companies than Maha. Both sources stated that the talks are still?preliminary.
Tesla executives announce that the company is expanding its solar strategy to include more employees.
According to senior executives, Tesla is currently hiring to help support Elon Musk’s plan to become the largest U.S. manufacturer for solar energy components. The posts indicate that 'the company is implementing Musk's vision to set up 100 gigawatts domestic solar production. Musk announced this goal?last?month. Seth Winger wrote, "This is a bold, ambitious project," in one of many posts made by Tesla executives on LinkedIn.
Tesla executives are hiring to support Musk’s solar expansion strategy
According to senior executives, Tesla is currently hiring to support Elon Musk’s recent announcement to become the largest U.S. producer of solar energy components. The posts indicate that 'the company is implementing Musk's vision to set up 100 gigawatts domestic solar production. Musk announced this goal?last? month. Seth Winger is Tesla's senior manager of solar product engineering. He wrote this in a LinkedIn post.
RWE looks to buy LNG from ADNOC in Germany as it moves to diversify its supply
RWE signed a preliminary agreement with Abu Dhabi National Oil Company on Friday. The German utility stated that it could purchase LNG for European markets as Berlin strives to diversify their energy partners. The German Chancellor Friedrich Merz has been visiting the Gulf region to look for new energy sources, and to reduce the country's dependency on the United States, its dominant supplier.
Norway's Kongsberg Group Q4 exceeds forecast
Norwegian defence contractor, Kongsberg Group,?on Friday?reported a larger than expected increase?in its operating profit for the fourth quarter?and that the order backlog has increased by 11% during the last three months of 2025. The earnings before interest and taxes rose by 42% in the quarter October-December 2024 compared to the same period in 2024. This was higher than the 2,070 billion crowns that analysts predicted.
US rooftop solar installers restructure, cut jobs as homeowner subsidies expire
Residential solar companies in the U.S. are preparing to see a sharp drop in their business after the expiration?of a federal tax credit which helped fuel more than a decade's rapid growth. This has led to layoffs, reorganizations and even some company failures. Under President Donald Trump's new tax reform, the 30% federal income tax credits for homeowners who buy rooftop systems will expire at the end 2025.
US auctions drilling rights in Alaska Reserve on March 9
On Thursday, the Trump administration announced that it would sell oil and gas?drilling?rights across 5.5 millions acres of Alaska’s National?Petroleum Reserve. This sale is?the first in a series of at least five that President Donald Trump signed into law with his One Big Beautiful Bill Act last year. Since 2019, the U.S. government has not sold tracts on the Alaskan reserve, also known as NPR-A.
Texas anti-ESG Law declared unconstitutional in the US by a US judge
A federal judge ruled that a Texas law enacted in 2021 restricting the state's investments to?companies who seek?to reduce their reliance on fossil fuels, or boycott this industry. The U.S. district judge Alan Albright made his decision public on Wednesday. He said that the law violated First Amendment protections for free speech because it penalized businesses for?speaking…
Top tax official: India monitors evolving crypto-trading to ensure tax compliance
India has been in contact with cryptocurrency exchanges for a while to gauge the changing trading activities. It is also seeking to monitor newer crypto products. India does not regulate cryptocurrencies. However, global crypto exchanges like Binance, Coin DCX and Zebpay, which are registered with the government, operate in India. The central bank of Asia's third…
Vestas' fourth-quarter operating profit lags forecasts, expects 2026 sales growth
Vestas, a wind turbine manufacturer, reported Thursday a fourth-quarter operating loss that was below expectations. However it said they expect revenue growth and increased profitability in 2026 despite tariff and geopolitical risk. Vestas operating profit in the fourth quarter was 580 million Euros ($683.59 Million) down from 759 millions a year ago. This is against an average analyst poll of 597million euros.
GRAINS-Chicago soya beans jump to a two-month high after Trump's comments
Chicago Board of Trade soybean contracts hit a 2-month high following remarks by U.S. president Donald Trump regarding China purchasing more U.S. soyabeans, traders said. In a recent post on the Truth Social platform, Donald Trump said that China "has increased the Soybean count for this season to 20 million tons (They have committed 25 million Tons next season! China purchased 12 million metric tonnes of U.S. soya beans by late January.