Britain Emphasizes Collaboration on Energy Security at Global Summit
Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries around the world after Russia's full-scale invasion of…
Baker Hughes' first-quarter profits beat expectations on the back of strong demand for natural Gas Technology
Baker Hughes, a U.S. oilfield technologies firm, beat Wall Street expectations for the first-quarter profits on Tuesday thanks to a robust demand for natural Gas technology. The positive results are coming as oilfield service firms prepare for the impact of the tariffs introduced by the President Trump. These are expected to increase costs and…
US finalizes tariffs against Southeast Asian solar imports
U.S. Trade officials finalized tariffs on solar panels and cells from Southeast Asia. This is a major step in settling a trade dispute that has been raging for a year, with American manufacturers accusing their rivals overseas of flooding the market unfairly with cheap goods. The Commerce Department imposed preliminary antidumping, antisubsidy…
Chevron will triple-frac half of Permian wells by 2025 in order to reduce costs and time
HOUSTON, 9 April - U.S. Oil Major Chevron plans on increasing the use of a method that allows it fracture subterranean rocks in three wells simultaneously in the Permian Basin, according to the company. This is in an attempt to reduce the time and costs of oil production. Chevron, the second largest U.S. producer of oil, is expanding the triple…
LNG Canada begins cooling down of the plant as a final step to producing LNG
Two people have confirmed that LNG Canada is cooling down its Kitimat liquefied gas plant, British Columbia. This is a last step before the company begins producing super-cooled gas. LNG Canada will be the first LNG export facility in Canada. It is expected to export 14 million metric tons per year (MTPA). People said that the company began using refrigerants on Tuesday as part of its cooling process.
Indonesia makes trade concessions to the US before talks
Indonesia made a series of concessions to the U.S. on Tuesday. These included reducing taxes on steel and electronic goods, in advance of negotiations with Washington regarding President Donald Trump's tariffs. Next week, the largest economy in South East Asia will send a delegation of high-level officials to the United States to seek a deal that would ease the impact on Wednesday's 32% tariff.
Chevron will pay $740 Million to restore Louisiana's coastline, reports AP
The Associated Press reported that Chevron had been ordered to pay $740m to repair damages caused by the oil and gas giant to the coastal wetlands of southeast Louisiana. Report: The jury's verdict awarded $575,000,000 for compensation for land losses, $161,000,000 for contamination, and $8,000,000 for abandoned equipment. The original lawsuit was filed in 2013 by the Plaquemines Parish in Louisiana.
Stocks of tech and bank companies plummet as China's retaliation fuels fears of a wider trade war
U.S. tech giants, banks, and oil majors all fell on Friday, after China responded to Trump's new tariffs by imposing steep duties. This heightened fears of an economic recession around the world. China has imposed additional duties of 34 percent on U.S. products, which will take effect on April 10. China also announced a ban on the export of certain rare-earths, and added a number of U.S.
US Businesses brace themselves for more pain when Trump imposes reciprocal tariffs
The U.S. president Donald Trump announced on Wednesday a number of reciprocal duties on trading partners, the latest of a long list of duties that have been imposed by him since he returned to the White House in early this year. From April 5, the U.S. is imposing a baseline 10% tariff on all imports into the country and will be increasing duties for several of its largest trading partners.
Japan's Terra Drone will boost collaboration with Saudi Aramco in inspections
Terra Drone, a Japanese startup that uses drones to inspect and survey energy infrastructure, has announced it is increasing its cooperation with Saudi Arabian state-owned Aramco in order to inspect oil and natural gas facilities. Terra Drone, a Japanese company, has signed an agreement with Aramco that will allow it to test its drones in Saudi Arabia. This is expected to begin later this year or early next.
Trinidad: Key gas project in Venezuela is not slowing down, despite US pressure
Trinidad Prime Minister Stuart Young stated on Thursday that companies planning an offshore gas project between Venezuela and Trinidad and Tobago have "not slowed down" their work despite increased pressure from the United States on Venezuela and uncertainty regarding the extension of the license for the project. After talks with U.S. Young, who spoke to South American and Caribbean nations this week…
TotalEnergies warns that indirect emissions may increase as the company aims to sell gas
TotalEnergies, a French energy company, said in its sustainability report on Thursday that plans to sell more gas in the coming years would increase indirect CO2 emissions. TotalEnergies said that global emissions will also fall as a result of its clients moving away from dirty fuels. In 2024, the French oil giant emitted 376 millions metric tons CO2-equivalent.
Nigeria’s Refining Revolution is Reshaping West Africa’s Energy Landscape
The launch of the Dangote Refinery near the Port of Lagos presents an exciting opportunity to transform the energy and shipping markets in West Africa. And it stands to boost Nigeria’s role as an influential player in the global oil industry, fostering economic growth and regional development.Nigeria’s standing in the global energy landscape is getting a boost with domestic refining capacity expanding in 2025.
Glencore refinery in South Africa invests in cleaner fuels
Astron Energy, an affiliate of the global commodity trader Glencore will invest up six billion rands ($328 million) in order to install new equipment, and to become compliant with South Africa’s cleaner fuel specification before a 2027 deadline. Astron officials have said that the foundations for a Gasoline Hydrotreating Process, which will reduce petrol to Euro 5 specifications has already been laid in the 100…
European investors warn that the clock is ticking on AI adoption
European companies who are investing heavily in generative artificial intelligence must start showing results by the end of next year or investors will lose patience. AI-exposed shares have been downdrafted with the broader equity market in recent weeks, as fears of recession rise. This has added to the pressure on the sector, which was already…
Tax tussles between Indian and foreign companies
In India, foreign companies often face difficulties due to the high tax demands on large M&A deals or accusations by the government of duty evasion. This can lead to lengthy litigation. The following are the most important tax disputes that have occurred in the past and present involving foreign companies. In January, the South Korean giant Samsung…
Laos signs clean energy agreement worth $1.45 billion with Chinese industrial company
Laos signed a clean energy agreement worth $1.45 billion with a Chinese manufacturer of power plant equipment as it continues its drive to generate and transmit clean electricity. China Western Power Industrial and a Singaporean construction company signed an agreement with Xekong Thermal Power Plant, Laos. The project will design, supply and build a 1,800 megawatt clean energy power plant in southern Laos.
Chinese copper smelters are struggling with margin collapse
Industry insiders say that major copper smelters in China, the world's largest consumer, have started equipment maintenance during March, traditionally peak demand season, to try and stem the losses caused by a worsening shortage of feedstock, which is hurting margins. The fact that plants are being shut down during one of the busiest periods of the year shows how much refiners suffer from the lack of copper concentrate.
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.
