EU diplomat: EU envoys failed to agree on 21st Package of Sanctions against Russia
An EU diplomat stated on Wednesday that European Union envoys have not yet reached agreement on a 21st set of'sanctions' against Russia as a'response' to Russia’s /war with Ukraine. The diplomat said that EU envoys agreed to maintain the price cap for?Russian crude oil at its current level of $44.10 per barrel until July 23…
Sources say that the US is working on a ban against Chinese energy inverters.
Five?people familiar with the situation' say that the Trump administration is working on a ban of imports of foreign inverters which connect solar panels and batteries to the power grid. They are concerned China may use them to disrupt the supply of electricity. Sources say that the rule?being drafted? by the U.S.
The European Commission promises tougher actions on trade with China
The EU's relationship with China in terms of trade and investment is "not sustainable", according to the European Commission, which pledged a stronger response. Commissioners were discussing how best to protect Europe's industries against surging Chinese imports. The EU's leaders will meet on June 18-19 to discuss ideas.
The European Commission discusses a policy shift to protect industries from China
European Commissioners met on Friday to discuss ways to shield Europe's industry from surging Chinese imports and to secure alternative supplies of critical inputs and minerals to reduce its heavy dependency on China. The European Union executive wants to present ideas before the EU leaders' summit, which will take place on June 18-19.
Trafigura CEO: Europe's smelters require long-term protection of prices
Trafigura CEO Richard Holtum said that European smelters require "life support", such as price floor protection or long-term price protection, to keep running and compete with the top-end Chinese plants. The European Union and its Western allies are working to diversify supply…
IEA chief warns that commercial oil stocks are rapidly depleting, with only a few weeks remaining
Fatih Birol of the International Energy Agency said that the commercial oil inventory was depleting quickly - with only a few 'weeks' worth left due to the Iran war and the closing of the Strait of Hormuz for shipping. Birol told reporters, while attending the Group of Seven Finance Leaders meeting in Paris…
France and other World Bank shareholders are seeking a solution to maintain climate strategy
Eleonore Caoit, France's development minister, said that World Bank shareholders were looking for a way to "keep alive" the climate change financing strategy of the development lender after it officially expired at the end June. Caroit said late Thursday that she had been discussing…
Edison: Qatar gas force majeure may be extended, but US LNG will fill the gap
The Italian importer Edison stated on Wednesday that Qatar may extend the force majeure period on gas supply?past mid-June. They also predicted that U.S. gas would be used to fill in the 'gap instead of Russian gas. Nicola Monti, Edison's CEO and Fabio Dubini, its head of Gas Portfolio Management…
Oil Prices Rise, Hormuz Remains Closed Ahead of Trump's Deadline
Oil prices climbed on Tuesday and U.S. crude was on track for its highest close since 2022 ahead of a deadline set by U.S. President Donald Trump for Iran to open the Strait of Hormuz or face attacks on power plants and other infrastructure.Brent futures rose 63 cents, or 0.6%, to $110.40 a barrel at 10:41 a.m. EDT (1441 GMT), while U.S.
Birol, IEA chief, says that the IEA is discussing future oil releases.
Fatih Birol, the Executive Director of the International Energy Agency, said that they are consulting with governments from Asia and Europe on how to release more oil "if needed" because of Iran's war. We will, of course do so if it's necessary. IEA members nations agreed to release…
Take Five GRAPHIC: Giddy up
As the year of fire horse dawns, much of Asia will celebrate the Lunar New Year. This rare combination is said to combine elements of energy and volatility. The markets will be looking for the first from the consumer leader Walmart, and the second from the earnings of European miners.
Take Five: Giddy up
As the year of fire horse dawns, much of Asia will celebrate the Lunar New Year. This rare combination is said to combine elements of energy and volatility. The markets will be looking for the first from the consumer bellwether Walmart, while the commodity markets are likely to see the latter.
The EU's new sanctions plan is designed to target Russian crude exports more severely
The European Commission proposed on Friday a ban on all services that "support" Russia's crude oil exports by sea. This is a far more comprehensive measure than previous EU sanctions, and goes beyond the piecemeal approach in an effort to "stunt" Moscow's main source of revenue for its war against Ukraine.
Oil Prices Steady with Ukraine Peace Talks, US Interest Rate Decision Looms
Oil prices steadied on Tuesday after falling 2% in the previous session, with investors keeping a close eye on peace talks to end Russia's war in Ukraine, concerns about ample supply and a looming decision on U.S. interest rates.Brent crude futures edged 3 cents higher to $62.52 a barrel at 1317 GMT. U.S.
Oil Prices Fall as Iraqi Production is Restored, Ukraine Talks Continue
Oil prices slipped more than $1 on Monday after Iraq restored production at one of its oilfields which accounts for 0.5% of world oil supply, while investors weighed ongoing talks to end the war in Ukraine.Brent crude futures were down $1.07, or 1.68%, at $62.68 a barrel by 11:05 p.m. EDT, while U.S.
Serra Verde cancels China offtake deal after being approached by Western firms
Serra Verde, a Brazilian rare earths mining company, has reduced the contract durations of its Chinese processing agreements, allowing it to potentially supply Western companies once their separation capacity is available in the coming years. China is the largest supplier of rare earths in the world, and 90% of it is processed.
What international sanctions are in place against Russia?
Here's a list of some of thousands of international sanctions that have been imposed against Russia for its invasion of Ukraine. Energy Companies - On October 23, U.S. president Donald Trump imposed sanctions on Russian oil companies Rosneft, and Lukoil. Other companies have until November 21, 2018 to end transactions with these companies.
Japan claims that replacing LNG from Sakhalin-2 in Russia would be expensive.
Japan's Industry Minister said that replacing the liquefied natural gas from Russia's Sakhalin-2 Project would be expensive and lead to higher electricity rates. Scott Bessent, U.S. Treasury secretary, has urged Tokyo, ahead of U.S. president Donald Trump's trip to Japan next Monday, to cease its Russian energy purchases.
EU sanctions against Russia include two Chinese refineries and the trader Chinaoil
The EU has added Chinaoil Hong Kong (a trading arm for PetroChina) and two Chinese refineries with a combined daily capacity of 600,000.00 barrels to its list of sanctions against Russia, according to the EU Official Journal published on Thursday. Liaoyang Petrochemical is one of the two refineries…
Minister: France will not abandon the climate goals of the World Bank
Eleonore Caoit, France's new development minister, said that France would continue to press the World Bank for its climate finance agenda in spite of the pressure from the Trump administration to abandon it. Caroit, speaking to reporters at the World Bank's and International Monetary Fund's annual meetings in Washington…