Trump Energy Department reorganizes to focus on fossil and nuclear priorities
The U.S. Department of Energy announced on Thursday a reorganization of its agency, which prioritizes oil and nucleic resources over offices dedicated to renewables or efficiency. DOE released a new organization chart along with a short statement stating that the changes aligned to President Donald Trump’s agenda of energy dominance. The chart includes several new divisions including the Hydrocarbons Office, Geothermal Office and Office of Fusion.
Are renewables prepared for the COP30 discussion on fossil fuels?
At the climate summit, it may be premature to declare the end to the fossil fuel age. But up to 80 nations are calling for a concrete plan that will move us away from polluting energy. The 195 countries at the COP30, including the oil producers, will have to agree on a plan to reduce oil and gas consumption. There are also practical challenges to overcome, as the…
Trump Administration proposes to relax rules protecting endangered species
The Trump administration proposed on Wednesday four new regulations that would rollback Biden's era regulations that strengthened the protections for endangered animals. This move aligns with President Donald Trump’s efforts to reduce what he calls burdensome federal regulations on businesses. Conservation groups warned that the changes could threaten the survival of endangered species, including Florida manatees and monarch butterflies.
Aramco signs preliminary US deal worth more than $30 Billion
Saudi Aramco, the oil giant, said that it signed 17 preliminary agreements with U.S. firms with a total potential value of over $30 billion during a trip to Washington by Saudi Crown Prince. In a press release, the company said that these projects include liquefied gas, financial services and advanced materials manufacturing, as well as procurement of materials and other services. Saudi Arabian and U.S.
US and Saudi announce new business deals during investment forum
Saudi Arabian and U.S. officials highlighted billions of dollars in new investments on Wednesday, coinciding the Saudi Arabian Crown prince Mohammed bin Salman’s Washington visit. According to the program for the event, the CEOs of Chevron and Qualcomm as well as General Dynamics, Cisco, General Dynamics, Pfizer, and Alphabet's Google will attend the U.S. Saudi Investment Forum in Washington.
Saudi Crown Prince tries to improve image of Saudi Arabia with top corporate executives
WASHINGTON, November 19 - Saudi Arabian crown prince Mohammed bin Salman, who was reintroduced to Washington by President Donald Trump with a glowing White House endorsement, will rub shoulders on Wednesday with some of the most powerful corporate executives in America. According to the program for the event, the CEOs of Chevron and Qualcomm will attend, along with senior executives from IBM and Alphabet's Google.
Elon Musk, Jensen Huang to talk AI at US-Saudi investment forum
According to a document that was seen by us, Elon Musk of Tesla and Jensen Huang of Nvidia will be taking part in a panel discussion about artificial intelligence and technology on Wednesday at the U.S. Saudi Arabia Investment Forum in Washington. The document stated that "This conversation will examine the emerging forces shaping a new wave of technological advancement…
South Korea joins Stargate AI Data Centre Project in UAE
Seoul announced on Tuesday that South Korea had agreed to collaborate with the United Arab Emirates to build an artificial intelligence data campus, a project backed by the United States. South Korea announced that it would help build the computing power and energy infrastructure of the largest AI data centre outside the United States after South Korean president Lee Jae Myung met with UAE President Mohammed bin Zayed Al Nahyan.
Environmentalists sue Gulf of Mexico Oil Auction to Stop it
On Tuesday, environmental groups sued the Trump Administration for its decision to proceed with the planned December 10, offshore oil and natural gas lease sale that covered 80 million acres (32 millions hectares) of the Gulf of Mexico. Why it's Important The lawsuit filed in U.S. District Court for the District of Columbia challenges a large sale that is aligned…
Can West Virginia be green when Trump supports coal mining?
He is a member of Economic Development Greater East, an initiative that promotes projects in a region devastated by the decline in coal production. He said he was a fourth-generation coal miner who had moved from one mining job to another in the past. He met EDGE's founder Jason Tart when he returned to Berwind and with their support, he opened a chicken business.
Glencore reduces Century Aluminum stake from 33% to 33% following tariff-driven rally
Glencore cut its stake in Century Aluminum from 10% to 33%. This has resulted in millions of dollars in profit following the share price rally that was sparked by U.S. Tariffs on Aluminium Imports. On June 4, U.S. president Donald Trump increased the tariffs on aluminum imports from 25% to 50% in order to encourage investment in the production of this metal in the United States. The largest shareholder in Century is Glencore, a London-listed company.
Palm oil rises with stronger Chicago soyoil
The price of palm oil in Malaysia rose for the fourth consecutive session on Tuesday. This was due to higher soyoil futures prices in Chicago after China bought American soybeans. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 33 ringgit or 0.79% to 4,184 Ringgit ($1,002.16) per metric ton. David Ng, a proprietary trading at Kuala Lumpur's Iceberg X Sdn.
Source: CEOs of Chevron Qualcomm and Pfizer will attend US-Saudi event.
According to a source with knowledge of the event, CEOs from Chevron and Qualcomm will be attending the U.S.-Saudi Arabia Investment Forum in Washington this week, during the visit by Saudi Crown Prince Mohammed bin Salman. Bin Salman is expected to highlight the increasing business ties between Saudi Arabia and the United States during his first visit to the U.S. in 2018. The event will take place at the John F.
Officials say Iraq is discussing a six-month waiver for US Lukoil sanctions.
Three Iraqi energy officials said on Monday that the Iraqi government was considering a request for a six-month waiver of sanctions from the U.S. Treasury Department to allow Lukoil more time to dispose of its stake in West Qurna-2, a giant oilfield. Lukoil declared force majeure in the field last week. This is the most significant fallout of the sanctions imposed by the U.S.
Energy Transition' Future: Fractured, Bumpy and Long
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago.The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest polluters.The landmark UN COP21 climate agreement signed in Paris on December 12…
China finds bigger role as US sidesteps Brazil climate summit
China has stepped into the spotlight as a leader of the global warming fight, with the United States missing the U.N.'s annual climate summit in New York for the first three decades. The country's pavilion dominates the entrance of the sprawling COP30 grounds in Brazil’s Amazonian city of Belem. Executives from its largest clean energy companies present their visions of a greener future in English to large audiences…
USDA lowers US soya export forecast after China rejects American shipments
U.S. Department of Agriculture reduced its estimate of U.S. soybeans exports for the current crop year on Friday, after China, which is the top soy buyer in the world, shunned American shipments and favored South American products in its trade dispute with Washington. USDA forecasts exports of 1.635 billion bushels in 2025/26 marketing year (Sept/Aug), down 50 million bushels compared to its September estimate.
As yttrium shortages grow, a new rare earth crisis is on the horizon
Due to Chinese export restrictions on yttrium, global supplies are in short supply. This has led to fears of shortages, and a rise in costs, which could affect aerospace, energy, and semiconductor production. In April, China, which is the primary source of this element, used in coatings that protect against high temperatures and in alloys for engines, limited exports, along with six others rare earths, in response to U.S. duties.
Almost a Third of Russian Seaborne Oil Export Potential is Stuck in Tankers
Around 1.4 million barrels per day of Russian oil, or almost a third of the country's seaborne exporting potential, remain in tankers as unloading slows due to U.S. sanctions against Rosneft and Lukoil, JPMorgan said on Thursday.The U.S.
Trump Administration revokes Biden's limits on Alaskan oil drilling
The Trump Administration finalized on Thursday its rollback of Biden's limits on oil-and-gas drilling in Alaska, the largest area of public land that has not been disturbed by humans. This move is in line with the goal of President Donald Trump to reduce restrictions on domestic gas and oil development, especially in resource-rich Alaska. Biden's rule 2024 prohibited oil and natural gas leasing on 10…