California's top air regulator: Trump opposes tax credits and EV regulations, but California is accelerating work on them.
California's top air regulator announced that officials will meet with Detroit automakers to discuss the next phase in greenhouse gas regulations for vehicles and trucks. California is fighting President Donald Trump in the U.S. Congress and in?the court against his efforts to dismantle federal vehicle emission standards. Lauren Sanchez, Chair of the California Air Resources Board and Governor Gavin Newsom…
US lawmaker asks Vitol, Trafigura about Venezuela oil deals
The top Democrat of a U.S. House investigation committee asked Vitol 'and Trafigura on Thursday about any correspondence they had with the Trump Administration before?the U.S. captured Venezuela's leader. He wanted to?determine who benefited from this action, he said. Robert Garcia, a Representative, asked Russell Hardy and Richard Holtum of Trafigura to provide all communication between their companies…
Geopolitics loom large over Big Oil earnings as investors seek Venezuela details
Exxon Mobil executives and Chevron executives will likely face more questions on their investment opportunities in Venezuela when they speak with analysts this Friday. After President Donald Trump announced that he wanted to invest $100 billion to increase and control Venezuelan crude oil production, the U.S. captured and removed?Venezuelan president Nicolas Maduro in early this month. The dramatic shift in geopolitics that occurred after renewed U.S.
Prices for gas in Europe are on the rise amid low storage levels
The benchmark British and Dutch wholesale gasoline prices increased on Thursday morning, as the market was supported by concerns about Europe's low storage levels and cold temperatures. LSEG data shows that the benchmark Dutch front-month contract was 39.53 euros per Megawatt Hour (MWh), or $13.86/mmBtu at 0923 GMT. This is an increase of 0.53 Euro. The Dutch March rate was 0.95 euros higher at 37.90 Euro/MWh.
Oil Prices Surge 3% on Worries of US Action Against Iran
Oil prices climbed about 3% to a five-month high on Thursday on rising concerns that global supplies could be disrupted if the U.S. decides to attack Iran, one of the biggest crude producers in OPEC.Brent futures rose $2.10, or 3.1%, to $70.50 a barrel by 11:07 a.m. EST (1607 GMT), while U.S. West Texas Intermediate (WTI) gained $2.09, or 3.3%, to $65.30.That pushed…
Chevron to Boost Exports of Venezuelan Oil to US in March
Oil producer Chevron is set to boost exports of Venezuelan crude to the U.S. to some 300,000 barrels per day (bpd) in March, from 100,000 bpd in December and some 230,000 bpd so far this month, two sources with knowledge of the plans said on Wednesday.The U.S. company, which is the main partner of Venezuela's state-run energy firm PDVSA, has chartered about a dozen tankers…
The mining giant Grupo Mexico doubles its net profit in the fourth quarter due to metals boom
On 'Tuesday', Grupo Mexico, the world’s largest copper producer, said that it had nearly doubled its net profit for the fourth quarter due to higher metals prices and stronger volumes. This more than offset weaker infrastructure results related to suspended oil platforms, as well as foreign exchange headwinds. Conglomerate's net profit reached $1.43 billion in the last year,?which is above the $1.32 million estimate of analysts polled at LSEG.
Sources say that the US will issue a general license to lift some sanctions against Venezuelan oil industry
Four sources said that the U.S. is preparing to issue a license to lift sanctions against Venezuela's energy industry. This would be a shift from the previous plan of granting individual exemptions for companies wishing to do business with Venezuela. After the capture by the U.S. of Venezuelan president Nicolas Maduro in early this month, U.S. official have stated…
Trump touts the economy in Iowa as protests roil Minnesota
U.S. president Donald Trump arrived in Iowa, Tuesday. He was seeking to shore up his support in a Midwestern battleground. An escalating conflict over immigration enforcement in Minnesota could drown out the economic message. The Republican President, whose economic and immigration policies are lagging, will try to rally his rural supporters in an area that is hosting key congressional elections?in November.
Trump visits Iowa amid farm stress and biofuel delays
The President Donald Trump is scheduled to travel to Iowa, on Tuesday, to boost his political support. This state is critical to the rural coalition of Trump, and farmers and producers of renewable fuels are becoming increasingly frustrated with the 'farm economy and its mounting pressure. The visit to the nation's biggest producer of corn and ethanol coincides with growing concern over low crop prices…
India and China reduce electricity emissions to mitigate US coal overdrive
Researchers say that India and China have 'cut emissions by accelerating the deployment of clean energy,' offsetting the?growing? coal use in America and limiting global growth in pollutants related to climate change. According to a CREA report published this month, power sector emissions in China and India, which accounted for 93% the increase in carbon dioxide discharges from the decade up until 2024, decreased simultaneously for the first 52 years.
Venezuelan oil reform encourages immediate investments, but executives still need to go deeper
Foreign and local executives and attorneys said that a proposed reform to Venezuela's oil laws is sufficient to encourage existing companies to expand, and to start investing. However, deeper reforms are needed to attract the $100 Billion the U.S. estimates is necessary to overhaul the nation's energy industry. The U.S. now controls Venezuela's oil revenue and exports…
Houston, the US oil capital, is buzzing as industry prepares for Venezuelan oil rush
Matthew Goitia explains his idea in a bar downtown Houston. He wants to build and refurbish marine terminals for Venezuela that will allow crude oil to be blended and exported, and chemical products shipped. Matthew Goitia, a director at Pelorus Terminals, explains his ambitious plan to refurbish and build marine terminals that can blend and export crude and ship chemical products in Venezuela.
Bloomberg News reports that the US is seeking quick fixes to boost Venezuelan oil production.
Bloomberg News, citing senior officials in the administration, reported that the United States is in discussions with Chevron and other major oilfield service providers about a plan for Venezuela to increase its crude production quickly. The?report stated that officials have discussed the deployment of?SLB and Baker Hughes in order to replace and repair 'outdated equipment and refresh older drilling site. The report could not be verified immediately.
Overview of Iran's major gas fields and oil infrastructure
After a wave anti-government protests, the US is heading to Iran and renewing warnings against Tehran restarting its nuclear programme or killing protesters. Tehran accuses Washington of fomenting turmoil. A major increase in prices could endanger key energy infrastructure, and add uncertainty to the oil and gas market. Here are some facts about Iran's energy sector, its exports and the impact of?Western sanctions.
Draft shows that Europe is committed to expanding wind energy despite Trump's criticism
A draft declaration that is due to be signed by the leaders of European governments, including Germany, Britain, and Denmark, showed they will continue to expand their wind power projects despite Donald Trump's escalating criticism. Trump has openly criticized the European countries' efforts at switching to low-carbon energies. He said that wind turbines are "losers".
Palmetto falls due to profit-taking but still posts third consecutive weekly gain
Malaysian palm-oil futures fell 'on Friday due to profit-taking, and the strength of the ringgit, but they still posted a third consecutive weekly gain. The benchmark contract for palm oil delivery in April on Bursa Derivatives Exchange fell 23 ringgit (0.55%) to $4174 ringgit ($1,042.72) per metric ton. The contract increased 2.5% in the last week. A Kuala Lumpur based trader said that investors booked profits before the weekend…
VEGOILS - Palm slips due to profit-taking; ringgit firm, still on track for third weekly gain
Malaysian palm futures declined?on friday amid profit-taking, but they remained on course for a third weekly gain. The benchmark April palm oil contract on the Bursa Derivatives exchange fell 30 ringgit or 0.71% to 4,167 Ringgit ($1,041.75) per metric ton at?midday. This week, the contract has increased by 2.6%. A Kuala Lumpur based trader said that investors?booked their profits before the weekend…
US cuts or revises nearly $84 Billion in Energy Loans
The Trump administration announced on Thursday that it will be restructuring or eliminating approximately $84 billion worth of clean energy?projects which were funded by the former president Joe Biden's administration. This is the latest move by President Donald Trump's administration in favoring fossil fuels, nuclear energy and eliminating subsidies for renewable energy sources like wind and solar.
Musk's Davos debut: US tariffs are a problem for solar power
Elon Musk made his Davos debut at the last minute on Thursday. He criticized U.S. Solar Tariffs, set aggressive Tesla targets, such as humanoid robot sales next year, and hinted that European approval of self-driving technology would be within weeks. Larry Fink, interim co-chair of the World Economic Forum, interviewed the richest man in the world after he had described the annual meeting for years as being elitist and unaccountable…