Two former Siemens executives to be tried for violating Russia sanctions in Germany
The court announced on Friday that a German court had decided to initiate a criminal case against two former Siemens executives who were accused of violating the sanctions by exporting Siemens gas turbines into Russian-occupied Crimea. Last year, prosecutors in Hamburg, Germany charged four Germans as well as a Swiss-French national with alleged sanctions violation.
Two former Siemens executives to be tried for violating Russia sanctions in Germany
The court announced on Friday that a German court had decided to initiate a criminal case against two former Siemens executives who were accused of violating the sanctions by helping to export Siemens gas turbines into Russian-occupied Crimea. Last year, prosecutors in Hamburg, Germany charged four Germans as well as a Swiss-French national with alleged sanctions violation.
State media report that US and Vietnamese firms have signed a deal on energy and minerals.
State media and one of these firms reported on Friday that Vietnamese and American firms had signed a number of deals on minerals and energy during the visit to the United States of Vietnam's Trade Minister. State-owned PetroVietnam Power said that Vietnamese firms are in discussions with U.S. companies to buy American crude and LNG. The company is a party to one of these deals…
Boeing, Apple and GE will join US business delegation to Vietnam next week list shows
A list of participants, including Boeing, Apple, and other top U.S. companies in tech, defence, and energy, will be joining a large mission to Vietnam, next week. This could be a sign of confidence, as Vietnam tries to avoid U.S. tariffs on trade. The US-ASEAN Business Council is an advocacy group that organizes the annual mission. This year, Vietnam is reviewing its tariffs on U.S.
Experts say that Trump's tariffs against steel and aluminum will increase costs for US energy companies
The proposed U.S. steel and aluminum tariffs will increase costs for U.S. Oilfield Services companies that rely on this metal for their operations. Oilfield service firms like ChampionX and Patterson UTI are the backbone for the North American oil and natural gas industry. They provide essential equipment and services to drill, produce and maintain.
Bloggers claim that Russian special forces attacked Ukrainian forces at Kursk via a gas pipeline
Pro-Russian bloggers claimed that Russian special forces snuck miles through a large gas pipeline near Sudzha to try to surprise Ukrainian troops as part of a massive offensive to eject Ukrainian soldier from the western Russian region Kursk. In August of last year, thousands of Ukrainian soldiers took over about 1,300 sq km of Russia's Kursk…
Bloggers say that Russia used a gas pipeline to surprise Ukrainian troops in Kursk.
Pro-Russian bloggers reported that Russia stormed the town of Sudzha Sunday, after special forces surprised Ukrainian units with a gas pipe as part of a massive offensive to eject Ukrainian troops from the western Russian region Kursk. In August of last year, thousands of Ukrainian soldiers took over about 1,300 sq km of Russia's Kursk Region…
LNG producer Venture Global raises Plaquemines project cost forecast by $2 billion
Venture Global announced on Thursday that it expects its Plaquemines LNG Plant in Louisiana project costs to be about $2 billion more than its previous estimate due to inflation and various other factors. The LNG producer now expects that the plant will cost between $23.3 and $23.8 billion. Previously, it was expected to be in a price range between $21 billion and $22 billion. The company paid $19.8 billion as of December 31.
BP and Mauritania claim leak found at gas project offshore West Africa
The British company BP and the Mauritania Environment Ministry announced on Wednesday that a gas leak had been detected in a well at the Greater Tortue Ahmeyim Gas Project operated by BP off the coasts of Senegal and Mauritania. BP stated that the impact of the leak on the environment was expected to be minimal and the incident will not disrupt production.
Equinor Norway LNG plant will be off-line March 10-14
According to a Friday regulatory filing, Equinor will shut down its Hammerfest LNG Terminal from March 10 through March 14 to perform "corrective maintenance". This will reduce the daily production capacity from 18.4 millions cubic metres to zero. The Hammerfest plant (also known as Melkoeya LNG) has the ability to deliver approximately 6.5 billion cubic meters of gas each year.
Copper giant Chile is'monitoring" US probe on potential metals tariffs
The Chilean Foreign Ministry said that on Wednesday it was "monitoring' a U.S. investigation looking at potential new tariffs for copper imports, a critical metal used in electric vehicles, military equipment, the power grid, and many consumer products. In a brief response, the ministry stated that it would monitor the situation after U.S. president…
British Business – February 26
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch their accuracy. BP, the oil major in Iraq, and the Iraqi government have agreed to allow the energy group work on the redevelopment and exploitation of four large gas and oil fields in Kirkuk. Unilever's board of directors has decided to part ways with Hein Schumacher, Chief Executive Officer.
Trump orders new tariff probe into US copper imports
The President Donald Trump launched a new front in his attack on global trade norms on Tuesday, ordering an investigation into possible new tariffs on imports of copper to rebuild U.S. manufacturing of a critical metal for electric vehicles, military equipment, the power grid, and consumer goods. In an effort to stop what his advisors viewed as China's move to dominate the copper market in the world…
Microsoft's data center worries continue to persist, as Europe's top AI companies slide further.
The sentiment of some of Europe's top AI stocks was dampened for a second consecutive day on Tuesday after an analyst report late last week, which warned of a possible slowdown in Microsoft data centre leasing, impacted the market ahead of Nvidia's make-or-break earnings. In less than a week, the Chinese DeepSeek artificial intelligence model was released.
Leviathan Partners eye large expansion of natgas fields for Israel and export
One of the partners said that the Israeli Leviathan project, which involves the offshore natural gas field, has submitted to the government a multi-billion-dollar plan for the expansion and boosting of production. NewMed Energy's plan, which it submitted to the Energy Minister’s Petroleum Commissioner, calls for drilling three additional production systems as well as expanding the processing facilities at the platform.
Guyana will soon sign a oil deal with TotalEnergies led group
Energy Minister Vickram Bharrat said that Guyana is expecting to sign a production-sharing agreement soon with a French consortium led by TotalEnergies, which will allow the country to explore an off-shore area. Guyana, the fastest-growing oil producing country in the world, is on track to produce 940,000 barrels of crude oil per day this coming year. This is nearly 1% more than last year's output.
TE Connectivity to Acquire Richards Manufacturing
TE Connectivity entered into a definitive agreement to acquire Richards Manufacturing Co. from funds managed by Oaktree Capital Management, L.P. and members of the Bier family, long-standing owners and leaders of the business. The transaction will strengthen TE's position in serving electrical utilities in North America by combining complementary product portfolios and adding the expertise of the Richards team…
Siemens Energy orders $135 billion in record order volume
Siemens Energy announced a record order book of 131 billion euros ($135.5 billion), boosted by a strong demand for energy equipment. This includes everything from wind and gas turbines, to power converters and electrolysers. According to the company, it also reported a net profit of 252 millions euros for the first three months of its financial year.
ChampionX executive: New U.S. tariffs on metals will increase oilfield equipment prices.
A company official told reporters on Tuesday that ChampionX anticipates the new U.S. tariffs on imports of steel and aluminum will increase equipment costs for oilfield services firms. U.S. president Donald Trump increased tariffs on imports of steel and aluminum on Monday, to a flat rate of 25% "without any exceptions or exclusions". He hopes this will help struggling industries in the United States.
KNDS to buy German defence equipment manufacturer Alstom
The companies announced on Wednesday that Alstom, a French train manufacturer, has agreed to sell the Gorlitz plant located in Germany to KNDS (a German defence equipment maker). In a joint press release, KNDS said that it will begin using the plant in this year to manufacture assemblies for the Leopard 2 Battle Tank, the Puma Infantry Fighting Vehicle and variants of Boxer Wheeled Armoured Vehicle.
