VCI Germany expects the chemical industry to stagnate by 2026
VCI, the German chemicals lobby group, expects sales and orders to stagnate in 2019. This is due to high regulatory uncertainty, uncompetitive manufacturing costs and a long approval process. The ?association, which represents around 2,300 companies, said revenues in the chemical-pharmaceutical industry fell 1% to 220 billion euros ($256.26 billion) in 2025. "I don't…
US auctions first Gulf of Mexico Oil and Gas since 2023
On Wednesday, the Trump administration will conduct the first government sale of oil-and-gas drilling rights in Gulf of Mexico?since 2023. This is a test of the industry's appetite?for offshore acres at a moment when the United States?is trying to increase domestic fossil fuel production. The auction is one of the 30 required by President Donald Trump's tax-cut and spending bill that he signed in July.
Kyiv reports that Russia has hit the gas transport system of Ukraine's Odesa Region.
A senior Ukrainian official reported on Wednesday that Russian drones had 'hit the gas transport system' in Ukraine’s southern Odesa Region. This area contains several pipelines bringing U.S. Liquefied Natural Gas to Ukraine from Greece. Mykola Kolysnyk, the deputy minister of energy, refused to say what had happened. The Ukrainian gas transit operator reported that planned volumes for the Transbalkan route…
Malaysian palm oil production tops 20 million tons in first time.
The industry regulator said that Malaysian palm oil production will surpass 20 million metric tons for the first year, thanks to more efficient harvesting and improved labour availability, as well as output from "maturing plantations". The record production of palm oil in Malaysia, the second largest exporter in the world, is expected to increase inventories. This could…
China's giant polysilicon companies set up an acquisition firm to combat oversupply
Local media reported that Chinese polysilicon manufacturers have established an acquisition?company in order to help restructure a sector plagued by an oversupply. However, it is unclear whether the firm has any concrete plans to purchase and shut down excess capacity. According to the business registration platform Qichacha, Beijing Guanghe Qiancheng Technology was registered on December 9…
Palm prices end lower after MPOB data shows 6-1/2-year-high stocks
Malaysian palm futures fell on Wednesday, after the monthly data released by the Malaysian Palm Oil Board showed that the country's palm oil stocks were at the highest level they had been in six and a half years. MPOB reported that the MPOB increased the amount of metric tonnes from the previous month by 2.84 million to the highest level since March 2019. The benchmark…
Germany's VCI predicts a "difficult road" and a stagnant chemical industry in 2026
VCI, the German chemicals lobby, expects that orders and sales will stagnate by 2026 due to high regulatory uncertainty, uncompetitive?production costs, and slow approval process. The ?association, which represents around 1,900 companies, said revenues in the chemical-pharmaceutical industry fell 1% to 220 billion euros ($256.26 billion) in 2025. The German chemicals industry…
Palm drops before Malaysian data is released
The price of Malaysian palm oils futures dropped on Wednesday, ahead of the monthly supply and demand report from the Malaysian Palm Oil Board. Soyoil also lost ground during the morning session. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery fell 14 ringgit or 0.34% to 4,092 Ringgit ($993.45) per metric ton. The market…
Russian Syzran Oil Refinery Halted by Ukraine Drone Attack
Russia's Syzran oil refinery on the Volga River halted oil processing on December 5 after being damaged by a Ukrainian drone attack, two industry sources said on Tuesday.Ukraine and Russia have been attacking each other's energy facilities as peace talks have failed to progress.The Ukrainian military said on Friday that it had carried out long-range strikes overnight on an oil refinery in the Russian city of Syzran and the Temryuk port in the Krasnodar reg
Sources: Russian Syzran oil refinery was halted on December 5, by a drone attack
Two industry sources reported on Tuesday that the Russian Syzran refinery, located on the Volga River, stopped?oil production on December 5, after it was?damaged by an Ukrainian drone attack. As peace talks failed to progress, Ukraine and Russia began attacking each other's nuclear energy plants. The Ukrainian military said that they had carried out long-range attacks overnight on an oil refining plant in the Russian city Syzran…
Cobalt hydroxide, a key component in EV batteries, has seen its price rise due to export restrictions from Congo
Sources in the industry said that prices of cobalt hydrxide, which is used to make chemicals for electric vehicles batteries, have increased sharply this past year due to cobalt export limitations from the top producer Democratic Republic of Congo. Congo suspended cobalt exports from February to October. The goal was to increase state revenue and tighten up oversight.
The decision on the French energy planning bill is expected to be made by Christmas
The French energy ministry announced on Tuesday that the country will take a final decision on the "delayed multiannual planning law" (PPE). The 'PPE' is a 10-year plan that outlines the country’s goals on everything from renewable and nuclear energy to climate change. However, political fights over renewable energy frameworks have caused long delays in its publication.
Palm oil recovers its losses and ends higher
Malaysian palm-oil futures recovered from early losses on Tuesday, aided by bargain buying. The Dalian market also pared some losses. The benchmark palm-oil contract for February delivery at Bursa Malaysia's Derivatives exchange was up 11 Ringgit or 0.27% at?4,104 Ringgit ($997.81). The contract fell by 0.8% in the earlier session. A trader in Kuala Lumpur said that bargain-buying would continue for the next one to two weeks.
Canada's new oil tycoon is shaking up the sector with a bold expansion plan
Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company's status as one of ?North America's fastest-growing oil companies. Waterous wants to expand the company more aggressively and more efficiently than its competitors after Strathcona Resources' hostile bid for MEG Energy was unsuccessful.
Australia is preparing to review its gas market, which could affect LNG exports
Australia will soon issue a review of the gas market that could limit exports from its east coast. Three operators, led by Shell and Santos, send cargoes to Asia. They said that the review, which they expect Canberra to release this week, may 'include a plan for LNG exporters to prioritize local supply in the populous east, the main source of domestic demand. Tony Wood…
Palm oil tracks drop in Dalian; market waits for MPOB data
Malaysian palm oils futures continued to fall for a second session in a row on Tuesday. This was due to the weakness of the Dalian market, and traders were waiting for the monthly report from the Malaysian Palm Oil Board. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery was down 33 Ringgit or 0.81% at 4,060 Ringgit ($986.39) per metric ton.
The US government is under pressure from the Fusion Energy Industry to provide billions of dollars in support
On Monday, fusion energy industry leaders met U.S. Department of Energy representatives to encourage them to provide billions of dollars to projects that seek to?generate electrical power by the same process as the sun. In November, the?department?created an Office of Fusion as part of a reorganization which focused on fossil and nuclear energy. Renewable energy offices were eliminated.
Report: US solar installations up 49% in the third quarter
A study released by Wood Mackenzie and the Solar Energy Industries Association on Tuesday showed that the U.S. industry installed new solar capacity of 11.7 gigawatts in the third quarter. This represents a 49% increase. The report said solar accounted ?for ?58% of all new electricity-generating capacity added to the U.S. grid through the third quarter, with more than 30 GW installed.
India's low battery storage bids are raising concerns about project viability
Industry experts and analysts fear that the record-low bids to build battery energy storage system in India could make some projects economically unviable, or even dangerous. This would hinder efforts towards renewable power. Battery projects are critical to India's goal to double its renewable energy capacity by 2030 to 500 gigawatts, while the grid operator reduces excess power.
Eskom reports that South Africa is looking for ways to assist ferrochrome companies.
Eskom, the state-owned power utility, announced on Monday that it is looking for ways to support South Africa's ferrochrome sector. Eskom stated in a press release that the memorandum with the two companies was the result of constructive discussions on Friday between the minister of electricity and the energy of the country and the trade unions. Samancor Chrome, the…