France's new Energy Law slashes Renewable Targets, Eases Pressure on EDF
After years of debate, France has finally passed a new law on energy that reduces its "wind and solar" targets and removes the mandate for EDF (the state-owned firm) to shut down nuclear plants. We need to stop the internal family fighting. "We need both renewables and nuclear," said Roland Lescure, finance minister. After almost three years, the law will be passed by decree after bitter debate among legislators.
Norway oil investment set to decline by 2026, according to a survey
A 'quarterly survey' of the oil and gas industry revealed on Thursday that Norwegian investments in the sector are likely to?decline this year and next, as fewer new projects are being undertaken and more field?developments have been completed. Norway is the world's second largest oil producer and supplies about 30% of Europe’s gas after it became its biggest pipeline gas supplier in 2022, following Russia's invasion.
Energy secretary warns against legitimacy of Chinese deals
Chris Wright, the U.S. secretary of energy, urged on Wednesday that the U.S. invest more in Venezuela during the most high-level visit to the U.S. focused on energy policies in almost three decades. Wright also warned about the legitimacy of Chinese companies in the OPEC nation. Wright stated that the U.S. After a meeting with the Interim President, Delcy Rodriquez, at the Miraflores Presidential Palace in Caracas, the U.S.
Brazil will rebuild ethanol stock in the new harvest following a 21% decline in 2025-2026
Analysts and industry data suggest that Brazil's sugar mills and ethanol producers will be strongly prompted to build up ethanol inventories for the harvest of 2026-2027, as biofuel prices are at multi-year highs. Sugar?futures are also hovering around five-year lows. According to data from Brazil's agriculture ministry, ethanol?stocks totaled 5,81 billion liters on Jan. 15. This is down 20,7% from 7,33 billion liters one year ago.
Russia claims US restrictions on its involvement in Venezuela's oil industry are discriminatory
Foreign Minister Sergei Lavrov stated on Wednesday that the new U.S. restrictions imposed on Russia and other countries' role in Venezuela's petroleum business was blatantly discriminatory. The Kremlin also said it would clarify this matter with Washington. The U.S. Treasury Department issued a license on Tuesday to facilitate exploration and production in Venezuela.
The price of VEGOILS - Palm ends lower following the views and forecasts at the Price Outlook Conference
After the Price Outlook Conference (POC), held in Kuala Lumpur, several forecasts and views were presented. The benchmark palm oil contract for April delivery at Bursa Derivatives Exchange dropped 35 ringgit (0.85%) to 4,060 Ringgit ($1,037.83). Dalian's palm oil contract dropped 0.69%, while the most active soyoil contract declined 0.05%. Chicago Board of Trade soyoil prices fell?0.54%.
US Energy Secretary to Arrive in Venezuela With Herculean Task of Oil Recovery
This week, the U.S. Department of Energy Chris Wright will visit Venezuela. It is the highest-level U.S. The OPEC country has not had a visit to discuss energy policy in almost three decades. Washington is conducting its first assessment on the ground of the oil industry that it plans to rebuild. Wright will arrive in Caracas Wednesday, one day after the U.S. granted a general license to explore and produce oil and gas in Venezuela.
France Slashes Renewable Energy Targets in New Law
France set out a new energy law after years of wrangling on Thursday which slashes its wind and solar power targets and drops a mandate for state-run firm EDF to shutter nuclear plants."We need to stop our internal family squabbling. We need both nuclear and renewables," finance minister Roland Lescure told reporters.The law, to be pushed through by decree on Friday after almost three years of bitter disagreement among lawmakers…
Palm gains on bearish outlook, slightly weaker Ringgit
After a selloff triggered by a major data release and a bearish outlook, Malaysian palm futures gained on Wednesday, snapping the losses of the previous session. The ringgit was also marginally weaker. By midday, the benchmark palm oil contract for April delivery at the 'Bursa Malaysia Derivatives Exchange' had risen 27 ringgit (0.66%) to 4,122 ringgit (1,050.46) per metric tonne.
Treasury: US grants license for oil and gas exploration in Venezuela
The?U.S. The?U.S. Washington has eased sanctions against Venezuela's oil industry that were first imposed by the United States in 2019. Since U.S. troops captured President Nicolas Maduro at the beginning of January, Washington has relaxed its sanctions. The government of interim president Delcy Rodriguez then agreed on a $2 billion oil deal with Washington. Oil drillers need U.S.
Grupo Carso, owned by Mexican billionaire Slim, confirms Pemex's contract with Macavil Gas Field
Grupo Carso, owned by Mexican billionaire Carlos Slim, confirmed on Tuesday that it had signed an agreement with the state-owned energy company Pemex for the 'development of onshore Macavil in southern Mexico. The contract focuses on natural gas and condensate. Last week, it was reported that Pemex - which requires large amounts of capital to boost production -?had given the contract for Macavil, to a firm?owned? by Slim.
Executives warn that Europe could lose its nascent green hydrogen industry to China
The fledgling green hydrogen industry in Europe is calling on the EU to introduce "made-in-Europe" requirements for spending public money on the sector. They warn that without the support needed to scale up quickly, the domestic producers will be overtaken by their Chinese competitors. In 2025, the industry suffered a severe blow as many projects were cancelled or postponed…
China's coal production in 2026 is expected to grow at the slowest pace this decade, despite lower imports
A major coal industry group announced?on? Tuesday that China's coal production is expected to increase by 35 million metric tones to 4.86 billion tons in 2026. This would be the slowest rate this decade, despite?projections? of a second consecutive drop in annual imports as a result of Indonesia, its top supplier, ceasing spot exports. China Coal Transportation and Distribution Association said that production by the world's largest producer…
Presidio, a US energy company, plans to use a Goldman Sachs debt facility worth $1 billion to finance deals.
Presidio Investment Holdings and Goldman Sachs are working on a debt?facility of up to $1 billion, which will give the U.S. Oil and Gas Producer a war chest to pursue acquisitions when it becomes a public listed company. Energy producer EQV Ventures Acquisition Corp. will list the company in a few weeks through a merger with blank-check firm EQV Ventures Acquisition Corp.
EU considers a revamp of the industry's free allowances in Carbon Market Reform
As part of a redesign of its carbon market, the European Union may overhaul its system of free "CO2 permits" for industries. Brussels is redesigning its Emissions Trading System (ETS), the EU's most important policy on climate change, which requires power plants and industry to purchase CO2 permits when polluting. Brussels, according to a presentation made by the European Commission internally…
Palm oil ends lower following the release of MPOB data and rival oils' weakness
Malaysian palm oil prices fell after Tuesday's release of the key data by Malaysian Palm Oil Board (MPOB). Meanwhile, weakness in other edible oils on the Dalian and Chicago market also affected sentiment. The benchmark palm oil contract on Bursa Derivatives Exchange for April delivery fell by 63 ringgit or 1.51% to 4,097 Ringgit ($1,044.89) per metric ton. Data revealed that Malaysian palm oil stocks fell 7.72% in January, for the first time in 11 months.
Palmetto erases gains due to market caution and Dalian weakness
Malaysian palm oils futures lost their early gains on Tuesday before the release of the MPOB data at midday. Weaker rival edible oil prices in the Dalian market also weighed on sentiment. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 39 ringgit or 0.94% to 4,121 ringgit (1,050.74) per metric ton. The market was cautious as the MPOB January data was released at midday.
Expand Energy CEO to leave and move to Houston
Expand Energy, a natural gas producer, announced the departure of its CEO Domenic Del'Osso on Monday. It also stated that it plans to move its corporate headquarters from Oklahoma City to Houston this year. The company announced that Michael Wichterich, its chairman, has been named interim chief with immediate effect. Dell'Osso is to serve as an outside adviser during the transition period. Wichterich is the chairman of the company since 2021.
Rosneft Oil Refinery Warns of US Sanctions
Management at a Russian-owned oil refinery in Germany have privately warned Berlin that U.S. sanctions are hurting its business and threatening fuel supply for the country's capital and the region, according to correspondence seen by Reuters.In a January letter, management of the PCK Schwedt refinery, controlled by Rosneft, made an "urgent appeal" to economy and energy…
BP does not intend to honor the National Oil Bargaining Agreement, says union
The union representing hundreds of workers in BP's Whiting Refinery, the.largest refinery.in the Midwest, announced?on.Friday that the British oil giant does not intend honoring the national oil bargaining agreements. The United Steelworkers union has adopted a national oil bargaining agreement that was negotiated with Marathon Petroleum to be used in contracts between 30,000 workers of the oil industry and their refineries or chemical plants.