Trump administration could delay biofuel credit cuts as refiners balk
According to sources familiar with this matter, the Trump administration may delay for one or even two years the proposed cut in incentives for biofuels imported from the United States. This is due to pressure by U.S. refining companies who claim that the move would increase costs and reduce fuel supplies. The current delay could be welcomed by domestic oil refiners who have invested in bio-based diesel, but it would frustrate U.S.
Palm oil reaches almost a three-week high due to strong soyoil
Supported by higher soyoil, Malaysian palm oil prices rose for the fifth straight session to close at their highest level in nearly three weeks. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange rose 17 ringgit (0.4%) to 4,226 Ringgit ($1,018.80). Paramalingam Supramaniam said that the contract increased in line with the soybean oil price…
Sources say that India is considering raising the sugar floor price and ethanol rates in order to support mills.
Sources in government and the industry said that India was considering raising the price floor for sugar sold on the domestic market. This is part of an effort to assist mills with surplus stocks. Sources said that the government of Prime Minister Narendra Modi could also increase the price at which oil firms buy ethanol from mills to mix with petrol. These moves will help mills to avoid losses…
Demand concerns and a stronger ringgit counteract a firmer soyoil, which keeps palm steady.
The price of Malaysian palm oils futures was little changed on Tuesday, despite a strengthening soyoil and concerns about demand. At the midday break, the benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 10 ringgit or 0.24% to 4,219 Ringgit ($1,017.61). The contract has rallied over the last four sessions. Paramalingam Supramaniam said that the contract increased in line with the soybean oil price…
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. Startups and non-profits…
Malaysia palm oil production to meet forecast despite the monsoon, says SD Guthrie
SD Guthrie, one of the largest palm oil producers in the world, said that weather patterns had not affected harvesting. During an interview at the Malaysian Palm Oil Board conference, Mohd Haris Mohd Arshad, the deputy managing director of the board said that rain has fallen in the morning and the evening. However, it hasn't affected the harvest. Last week, the Malaysian…
Bousso: TotalEnergies' ROI-TotalEnergies power play shows Big Oil how to make energy transition work
TotalEnergies of France is betting heavily on renewables and power, positioning itself as a leader in the global energy demand wave. It also offers investors an alternative to its rivals who are doubling down on gas and oil. Since 2022, the strategies of European oil companies have been in a constant state of flux. The sanctions and full-scale Russian invasion of Ukraine…
HoloSolis raises 255 million dollars to build solar panel factories in France
The French company HoloSolis raised over 220 million Euros ($255 million) to fund the construction of one of Europe's largest solar panel factories. Solar energy will be crucial for European plans to reduce the region's dependence on Russian energy, and to switch to more environmentally-friendly sources of energy. In July, data revealed that the European Union's growth in solar energy is on track to experience its first annual decline in over a decade.
DTEK, a Ukrainian company, imports US LNG through Lithuania
The Ukrainian energy company DTEK said that it has imported its first cargo via Lithuania's Klaipeda Import Terminal of U.S. LNG in order to improve energy security for Ukraine as well as other Eastern European countries. DTEK’s trading arm imported cargo from Louisiana’s Plaquemines Plant aboard the GasLog Houston. The cargo was equivalent to 100 million cubic meters, or one terawatt-hour (TWh) of natural gas.
Bousso: TotalEnergies' ROI-TotalEnergies power play shows Big Oil how to make energy transition work
TotalEnergies of France is betting heavily on renewables and power, positioning itself as a leader in the global energy demand wave. It also offers investors an alternative to its rivals who are doubling down on gas and oil. Since 2022, the strategies of European oil companies have been in a constant state of flux. The sanctions and full-scale Russian invasion of Ukraine…
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, 2015…
Palmettos end higher due to Indonesian output risks and a softer ringgit
Malaysian palm futures closed slightly higher for the third session in a row on Monday, thanks to a weaker ringgit as well as bullish predictions from industry analysts. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 6 ringgit or 0.14% to 4,151 Ringgit ($1,000.72). A Kuala Lumpur-based broker said that the contract has…
Palm extends its gains as it faces Indonesian output risks and a softer ringgit
Malaysian palm futures rose for the third consecutive session on Monday, thanks to a weaker ringgit as well as bullish predictions from industry analysts. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 13 ringgit or 0.31% to 4,158 Ringgit ($1,002.89) per metric ton. A Kuala Lumpur based trader stated that the contract…
Wall St hedge funds reduced megacaps in the third quarter
According to the most recent quarterly disclosures, Wall Street's biggest hedge funds have reduced their exposure to certain Magnificent Seven companies, such as Nvidia and Alphabet, and placed new bets on sectors like application software, ecommerce, and payments. The following are some key positions changes made by the funds. Bridgewater Associates outperformed its peers in the first nine-month period of the year…
Orplana CEO: Sugarcane farmers in Brazil's key region are feeling the pinch of low prices
Sugarcane growers in Brazil's central-south region feel the pinch due to low sugar prices. They do not want their crops to expand and may even reduce the area they plant with the crop. Jose Nogueira is the CEO of the cane growers association Orplana. He said this on Friday. Last week, raw sugar futures reached a low of 14,04 cents per lb. Prices had dropped to 14.96 cents a lb on Friday but were still subdued in comparison with recent highs.
Kimmeridge, an activist investor, takes a stake in US energy company Devon
Kimmeridge Energy Management, an activist investment firm, has acquired a stake in Devon Energy of the United States. This was revealed by a stock exchange filing on Friday. Kimmeridge held 5.66 million Devon shares at the end of September according to the filing. According to calculations, this would equate an approximately 0.9% share in Devon. It is also the 14th largest shareholder of Devon according to data provider LSEG.
India permits 1.5 million tons of sugar exports due to higher domestic surplus
India has allowed 1.5 million metric tonnes of sugar to be exported in the new season. The government announced this in a Friday notification, as it is expected that a decrease in sugar being diverted for ethanol will result in a greater domestic surplus. Sugar futures in New York and London could be impacted by higher exports from the second largest sugar producer in the world. These futures are currently at five-year lows.
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.
Saudi Aramco to Sign US LNG Supply Agreements
Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia's Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters.The world's largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas player, especially in the United States, where LNG capacity is set to almost double over the next four years.
Saudi Aramco will sign US LNG contracts during the crown prince's Washington visit, sources say
Saudi Aramco will sign two U.S. LNG supply agreements with Woodside Energy & Commonwealth LNG next week when Saudi Arabian Crown Prince Mohammed bin Salman is in Washington, according to sources with knowledge of the situation. Saudi Aramco wants to be a major player in liquefied gas, particularly in the United States where the LNG capacity will almost double within the next four-years. It has signed agreements with other U.S.