US takes on Chinese dominance in the race for African minerals
Diplomats, executives and analysts have said that the U.S. uses offtake agreements and state-backed financing to compete with China?in a short time frame? in order to secure supplies of African cobalt, copper and other essential minerals.
Shell CEO: We want to export Venezuelan Gas through Trinidad
Wael Sawan, the CEO of Shell, told Bloomberg TV that he hopes to have the?gas produced from Venezuela's Dragon Field in three years and then processed in Trinidad and Tobago before export. Shell and Trinidad are trying to increase natural…
Enel, Italy's energy company, reports core profit for 2025 in line with guidance
Enel, the Italian utility company, reported a core profit of 22.9 billion euro ($27 billion) on Thursday. This is in line with?the?group's guidance for 2020. They also said that their net income will be slightly higher than 6.9 billion euro.
US offers Serra Verde $565 million in financing and a stake option
The U.S. Government has signed a $565 million financing agreement with Brazilian miner Serra Verde. This includes an option to acquire a minority stake in the company. The deal forms part of the?a?wide-ranging package announced by U.S.
Mexico's Pemex will supply $496 million worth of oil to Cuba by 2025
Mexico's Pemex provided crude oil and petroleum products worth $496m to Cuba in 2025, through a contract that was effective since 2023. The shipments of oil to Cuba has increased tension between Mexico and the U.S. after U.S. president…
QatarEnergy signs long-term LNG supply agreement with Japan's Jera amid surge in demand
QatarEnergy signed a contract with Japan's largest power generator Jera on Tuesday to supply 3,000,000 tons of LNG per year for 27 years starting in 2028. This deal will further strengthen Qatar's position on the Japanese market. The…
QatarEnergy Secures LNG Supply Deal with Jera as Demand Surges
QatarEnergy, one of the world's biggest LNG suppliers, signed a deal on Tuesday with Japan's top power generator Jera to supply 3 million tons of LNG annually for 27 years from 2028, further strengthening Qatar's position in the Japanese market.The agreement…
Bousso: ROI-Oil is not able to break through the range of its current price because it needs a shock from Iran's supply, but a tough talk.
Even though oil prices rose 15% in January on the back of fears that a new U.S. attack on Iran was imminent, they remain in a narrow range. A well-supplied crude oil market will not allow for much more price increase from either side.
Glencore's copper production for 2025 is down 11%, as Rio Tinto and Glencore merge.
The company reported on Thursday that Glencore's production of copper will decline by 11% between?2025 and?2030, despite higher copper grades at various mines, which boosted output in the second half. The production for the year was lower than the 850,000 to 875,000 metric-ton forecast.
Australia reaches new renewable milestone over 50%
The Australian Energy Market Operator (AEMO), a'statement made on Thursday,' said that Australia had achieved a clean energy milestone in the quarter ending December, despite a rise of over 2,2% in power demand from a year earlier. The…
The French spot price drops due to a slight increase in wind
The French spot electricity price for Thursday dropped as the wind energy supply is expected?to rise from Wednesday's low level. By 0936 GMT, the French baseload for day-ahead fell by 5.7% to 119.75 Euros ($143.45). On Wednesday, the…
Uniper CEO: EU accepts that Russian units cannot be sold by Uniper
Uniper CEO: The European Union has accepted that Uniper is unable to meet a condition of the bailout package worth?13.5 billion euros ($16.2 billion), because it cannot sell its Russian subsidiary. This subsidiary, now controlled by Moscow, belongs to Uniper.
The US Electric Grid is stressed by the cold weather
Electric grid operators in the U.S. took extra precautions on Saturday to avoid rotating blackouts, as frigid temperatures hit half of America's population. The PJM Interconnection – the largest?U.S. The PJM Interconnection, which serves 67…
Bloomberg News reports that the US is seeking quick fixes to boost Venezuelan oil production.
Bloomberg News, citing senior officials in the administration, reported that the United States is in discussions with Chevron and other major oilfield service providers about a plan for Venezuela to increase its crude production quickly.
Maha Capital asks for US approval to purchase stake in Venezuelan oil company
Paulo Thiago Mendonca is the chairman of Maha Capital's board. He said that the United States has approved the acquisition of an indirect minority stake in a PDVSA controlled oil company. The firm has until the end of May to "exercise" an option to acquire a majority stake.
Brava, a Brazilian company, buys Petronas stakes in offshore fields worth $450 million
The Brazilian oil company Brava 'Energia announced Friday that it had acquired the Petronas stakes in Malaysia. In two offshore fields, the company has invested $450 million. This is part of a new strategy outlined by its incoming CEO.
Brazil's Soy Exports will Hit Record High for January, Grain Exporting Group Says
The grains exporting group Anec predicted on Tuesday that Brazilian soybean exports would reach nearly four million tonnes in January, a new record. Anec reported that traders in Brazil will export an estimated 3,73 million tons of oilseeds this month.
German Spot Contract Lifted by Lower Wind Power Supply
On Monday, the German baseload contract increased due to a waning wind supply and a slight increase in demand. LSEG data shows that the German day-ahead power contract for baseload power was at 111 euros ($129.73 per megawatt hour) at 0923 GMT.
What's at stake in Uganda’s presidential elections?
On Thursday, Ugandan President Yoweri Museveni is seeking to extend his four decade rule in an election which has raised questions about his eventual successor. Although political analysts claim that Museveni and the National Resistance Movement (NRM)…
Storm Goretti increases spot electricity prices in Western Europe
The intraday price of power across Western European markets increased on Friday, as Storm Goretti caused power outages and problems with power generation equipment. EPEX spot data revealed that the average "baseload" price for Germany was 90.44 euro ($105.31)…