The major Gulf exchanges are tracking Asian shares lower due to valuation fears
The Gulf's major stock markets fell on Wednesday morning, following the Asian share market lower after a tech-led selloff overnight on Wall Street brought the focus on stretched valuations. The stock market is retreating after reaching record highs, amid fears that equity markets have become stretched. This comes as CEOs from Wall…
YPF and Eni sign an agreement with ADNOC’s XRG for the development of Argentina LNG project
YPF, Argentina and Eni, Italy have signed an agreement for the Abu Dhabi National Oil Company’s XRG Investment arm to participate in a liquefied gas project related to Argentina’s Vaca Muerta Field. In a press release issued during the Abu Dhabi International Petroleum Exhibition and Conference, YPF CEO Horacio Martin said that…
Wood Mackenzie warns that China's curtailment of renewable energy will present revenue risks over the next decade.
Wood Mackenzie, a consultancy, said that if renewable energy is curtailed to balance China's grid during times of low or high demand it will pose a risk to investor revenues over the next decade. Wood Mackenzie predicts that solar curtailment rates will average over 5% in 21 provinces within the next decade. According to the latest…
Brazilian prosecutors investigate the illegal use of native timber in corn ethanol manufacturing
Ana Luiza Peterlini, a prosecutor in Mato Grosso, Brazil, said that the state is investigating if corn ethanol plants burn wood from illegal deforestation for the production of biofuel. This would be against the decarbonization goals set by the sector. Mato Grosso, Brazil's largest soybean producer, accounts for 2/3 of the nation's corn-ethanol production. This has increased dramatically in recent years.
BW Energy reports encouraging preliminary results for Kharas well offshore Namibia
BW Energy announced on Friday that the preliminary results of its Kharas-1 well, which was drilled offshore Namibia in the Kudu license, were encouraging and indicated the presence hydrocarbons. The results come after a series of discoveries made by oil companies including TotalEnergies and Shell, which have transformed the small Southern African nation into a hotspot for exploration.
Due to the shutdown, Americans are at risk of losing millions in heating assistance.
The government shutdown could make it difficult for millions of Americans to access funds for heating their homes as early as next month, according to lawmakers and nonprofit organizations from both parties. In its 29th day of the shutdown, the U.S. Department of Health and Human Services is blocking the states from receiving $3.6 billion in the Low-Income Home Energy Assistance Program (LIHEAP)…
Liberia's new mines minister replaces the previous one amid US investment talks
Liberia's office of President Joseph Boakai has announced that it has replaced the mining minister and top regulator in the country, as the West African nation, which is a producer of iron ore, pursues discussions with Washington about investments in its vital minerals sector. R. Matenokay Tingban was the deputy mining minister for former president Ellen Johnson Sirleaf. Wilmot J.M. was the former minister.
Spot prices are affected by the increased supply of wind and nuclear energy
The European power price fell on Wednesday, as the availability of nuclear and wind generation increased while demand was flat. The LSEG analysis concluded that the thermal capacity was higher and that exports from Germany, the main producer, were indicated for tomorrow. LSEG data shows that the French baseload price for Thursday's delivery was 66 euros ($76.97), down 17.5% on its previous close.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Aedifica: The healthcare real estate company Aedifica announced that its nine-month rental revenue rose by 8%, to 271.8 millions euros. It also raised the EPRA estimate for earnings per share in full-year to 5.10 euros.
Venezuela wants Trinidad to share details about Exxon field testing, sources claim
According to two sources and an internal document, Venezuela wants to know the location and details of the first Exxon Mobil field tests that will be conducted in a newly awarded ultra-deepwater zone in Trinidad and Tobago. Delcy Rodriguez, Venezuela's vice president and oil minister, demanded details on Exxon plans. She also asked if any potential discoveries could reach Venezuelan territory.
Bloomberg News reports that Kennedy has directed the CDC to investigate the alleged harmful effects of offshore wind farms.
Bloomberg News, citing sources familiar with the issue, reported that U.S. health secretary Robert F. Kennedy Jr. had ordered the Centers for Disease Control and Prevention to investigate the potential harms caused by offshore wind farms. The move is part a larger push by the Trump Administration to scrutinize offshore development, something that Trump has himself repeatedly criticized.
Sources say that India's HPCL has issued fuel import tenders following disruptions at its Mumbai refinery.
Two sources familiar with this matter confirmed on Tuesday that Hindustan Petroleum, India, had issued two tenders to import transportation fuels in early November, after shutting down one of its processing plants due to contamination. Vikas Kaushal, the chairman of HPCL, said that during the processing contaminated oil it acquired from Hindustan Oil Exploration Company…
Venezuela suspends energy agreements with Trinidad including gas projects
Venezuela's Oil Ministry will ask the President to suspend an agreement for a broad cooperation with Trinidad and Tobago in the energy sector, including the joint gas projects that are currently being negotiated, said the South American nation's Minister of Oil. The previous Trinidad government planned numerous joint gas projects…
Carbon Measures Global Accounting Group to Form Independent Panel
Carbon Measures will create an independent panel that will guide the work of this global carbon accounting initiative, according to its CEO. The group, which was founded a week earlier by ExxonMobil and other members such as BASF, Banco Santander and BASF, is aiming to develop a system of accounting to eliminate double counting and reward those who become more sustainable.
Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid
In line with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, world-first project reaffirms UAE’s leadership position in clean energy, directly addressing intermittency of renewables. Project will reimagine potential of renewable energy, delivering 1GW of baseload power at a globally competitive tariff…
JPMorgan selects Perpetua Resources as the first investment in its $1.5 trillion security funds
Perpetua Resources, an antimony and gold mining company, is the first investment made by JPMorgan Chase’s $1.5 trillion fund to support U.S. National Security. This underscores the company’s important role in producing the metal that China has banned and is used for bullets and weapons. JPMorgan, whose details were revealed on Monday, will invest $75m of its own money for a stake of nearly 3% in Perpetua.
IRENA's chief executive expects sustainable biofuels as a key theme at COP30
Francesco La Camera said that the COP30 climate summit this year will focus on the social aspects of energy transition and the use of sustainable biofuels, according to the Director-General for the International Renewable Energy Agency, IRENA. COP30 is scheduled to take place in Belem (Brazil) from November 10-21. This will be the time for countries to update their national climate commitments…
Trump reverses Biden's rules on copper smelters
The U.S. president Donald Trump reversed on Friday a Biden-era rule on air pollution that had set stricter limits for emissions from copper smelters. Under updated federal air standards, the copper rule finalized in 2024 required smelters reduce pollutants such as lead, mercury, arsenic and dioxins. The White House says that Trump's proclamation will help to promote American mineral security…
SNB divests from extractive industries with new divestment.
Swiss National Bank sold its stake in Anglo Australian miner Rio Tinto, adding to a recent series of divestments by companies in the extractive industries. LSEG data show. Unsere (Our) SNB is a group of 200 SNB shareholders that includes environmental groups. They claim the Rio Tinto divestment represents the entire stake in the SNB and values it at $227 millions.
The US opens up the Alaska Wildlife Refuge to oil and Gas Development
The Trump administration announced on Thursday a series steps to open the Alaskan wilderness for energy and infrastructure development. This includes resuming leasing of oil and gas in remote Arctic National Wildlife Refuge. The Interior Department said in a statement that it will reopen the full 1.5-million-acre (0.6-million-hectare) Coastal Plain of the ANWR to leasing…