What is the purpose of Europe? It must act fast: Stephen Jen
We all know someone who seems to be cursed with bad luck. Europe is beginning to resemble that unfortunate person, as it faces both internal and external problems. The region now needs a clear purpose and an ambitious plan to reach it. The challenges that Europe faces are external, like the fraying Transatlantic relations with the U.S. or the competitive pressures coming from China. Some of the challenges Europe faces stem from its past policies, such as over-regulation or an ill thought out energy strategy.
Vietnam is willing to increase US purchases, says the trade minister as new tariff talks begin
Vietnam's trade minister said that the country is ready to increase its purchases of U.S. products, particularly machinery and high-tech items. The Southeast Asian nation has begun a sixth round of tariff negotiation in Washington, this week. According to a ministry statement, Trade Minister Le Manh Hung held meetings with executives of Apple, Exxon Mobil and GE as well as Excelerate Energy and 'AES. In October, the 'White…
Germany's Uniper stresses diversification and downplays the increasing reliance on US Liquefied Natural Gas
DOHA, February 4 - A top executive of German utility Uniper played down European concerns about increasing reliance on liquefied gas (LNG), which is imported from the United States. He said that companies sign contracts with 'firms, not governments', and stressed the importance of diversification. The transactional diplomacy of U.S. president Donald Trump and his pursuit to "energy dominate" have heightened European concerns over their heavy dependence on U.S. LNG.
Sources say that the US will soon issue a general license for oil extraction in Venezuela
Three sources said that the U.S. is preparing to issue a general license allowing oil and gas companies to operate in Venezuela as soon as 'this week'. Washington aims to encourage increased production in the OPEC country since capturing the president. Sources said that the Office of Foreign Assets Control of the Treasury would allow companies to explore for and pump crude oil and gas. OFAC has already granted U.S. companies permission to store…
Sources say that Nscale, a UK AI company backed by Nvidia, has hired banks to prepare for its IPO.
People familiar with the situation said that Nscale Global Holdings, a British artificial intelligence company backed by Nvidia, has hired Goldman Sachs and JPMorgan in order to prepare for a public offering. Sources who asked not to be named because the discussions were private said that the timeline for a potential listing had not been determined. Goldman Sachs JPMorgan Nscale all declined to comment. Nscale's move to a public listing comes after a period of expansion in its data center capacity…
Sources say that Malaysia's Petronas is set to sign a deal for LNG supply with QatarEnergy.
Two sources familiar with the matter said that Malaysia's state-owned company Petronas was set to sign a deal with QatarEnergy for the supply of liquefied gas. The southeast Asian nation is seeking more supplies of the super-cooled fuel. One of the sources said that Petroliam Nasional or Petronas will sign a deal for LNG up to 2,000,000 metric tons annually. According to Kpler data, Qatar was the second largest LNG exporter in the world after the United States. It shipped out 81.07 millions tons of fuel last year.
Experts say that Brazil is on track to increase ethanol production in 2026.
Analysts and commodities traders stated on Tuesday that a healthy ethanol price, the expansion of corn-ethanol plants, and a large sugarcane harvest are all factors contributing to the increase in biofuel production in Brazil this year, the world's?second largest producer. They said?during an event at the Dubai Sugar Conference, that increased production this year is due to a combination of Brazilian sugarcane processing switching to more ethanol instead of sugar and the additions to corn processing plants.
Knight Vinke's founder says that his fund cannot invest in the uncertain US under Trump
Eric Knight stated that his hedge fund could not invest in the United States with President Donald Trump as the risks were too high. However, profits can be made in Europe because there are clearer rules and policies regarding green energy projects. Knight Vinke Asset Management, based in Monaco, sold "the last" of its U.S. investments in August. This was revealed in an interview with its CEO and founder Knight. A letter sent to investors by the fund showed that it would return 17.9% by 2025.
Knight Vinke's founder says that his fund cannot invest in the uncertain US under Trump
Eric Knight, a hedge fund manager, said that his fund could not invest in the United States with President Donald Trump as the risks were too high. However profits can be made by investing in Europe where the rules and policies regarding green energy projects is more predictable. Knight Vinke Asset Management, based in Monaco, sold its 'last' U.S. assets in August. This was revealed in an interview with its CEO and founder Knight. A letter sent to investors by the fund showed that it would return 17.9% by 2025.
Data shows that Indonesia imported Russian Sakhalin crude oil in December and January.
Ship tracking data revealed on Tuesday that Indonesia imported two cargoes in December and in January of Russian oil. These purchases were rare for the Southeast Asian nation and could be a sign of Russian oil sellers looking to expand their market in response to pressure from other buyers. The Kpler & Vortexa imports came as a result of a decline in demand for Russian crude oil from India. India is one of the largest buyers of Russian oil. The U.S.
Siemens Energy CEO: spin-off wind business idea is valid, but first turnaround must be achieved
Siemens Energy CEO, said that it was reasonable for activist investor Ananym Capital to push for a spinoff of?its wind turbine division. However, the business must first be stabilized and turned around. Ananym Capital, based in the United States, announced in December that it had acquired a stake of Siemens Energy. The company asked management to review Siemens Gamesa's wind division. It said the division could be worth up to $10 billion and that a spin-off would increase investor returns by 60 percent.
Oil Prices Rise on U.S.-Iran Tensions
Oil prices steadied on Wednesday after rising earlier in the session after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel, rekindling fears of an escalation in tensions ahead of planned talks.But a broader selloff of software equities, which often move in tandem with oil prices, capped gains.Brent crude oil futures were up around 0.1% at $67.38 a barrel by 1423 GMT. U.S. West…
Grain futures rise as gold and commodities stabilize, while soybeans continue to climb.
Chicago soybean futures rose on Tuesday as traders struggled with teetering commodity markets and rising gold prices. Wheat and corn also traded higher. As of 0453 GMT, the most active soybean contract on Chicago?Board?of Trade was up 0.2% to $10.62-3/4 a Bushel. CBOT corn was up 0.3% and wheat rose 0.3%. The rise in grain and soybean prices is related to the recovery of gold and silver. A sharp fall in the price of gold and silver has recently caused a pullback on the commodities market…
Prices drop due to lower gas prices and more nuclear
On Monday, the German baseload contract for 2027 dropped as European benchmark gas fell. Several nuclear reactors?returned to operation at the weekend and more are expected to?restart?this week. At 0934 GMT the German baseload price for the year ahead was down 1.2% to 83.90 euros per megawatt hour, while its equivalent French price was not traded with a bid price of 49.10 euro/MWh. Mind Energy analysts say that the German forward power market will drop on Monday as a result of milder weather…
Germany's gas production in numbers
Katherina Reiche, Germany's Economy minister is in Saudi Arabia seeking closer ties with the country on energy. Berlin is looking to diversify this sector as its dependence on U.S. Liquefied Natural Gas grows. Why is?GAS Supply a Problem in Germany? Germany was dependent on Russia to supply most of its natural gas for decades. This provided Europe's largest economy with a relatively cheap source, which was a major advantage for industry.
Venezuelan Oil Exports Increase to 800,000 bpd in January Under US Control
Venezuelan oil exports rose to some 800,000 barrels per day (bpd) in January, from 498,000 bpd in December, after the U.S. capture of Nicolas Maduro and the ending of an oil blockade which has let traders carry most exports, shipping data showed.Washington imposed an oil embargo on the U.S.-sanctioned country in December to pressure Maduro and seized seven tankers.The blockade led to the accumulation of more than 40 million…
EUROPE GAS-European plunge on milder forecasts, U.S.-Iran diplomacy
Dutch and British wholesale price fell to a two-week low on Monday as the forecasts cooled down and on hopes tensions between Iran and the United States would ease. The Dutch benchmark front month?contract?" at the TTF hub fell 4.92 euros to 34.73 euros per Megawatt Hour (MWh) or $12.06/mmBtu by 0904 GMT. This was its lowest level since January 19. The contract for April fell from 32.50 Euros/MWh to 2.90 Euros. Gas prices for the next week dropped 10.50 cents to 92.00 pence per therm.
Trump announces India will purchase oil from Venezuela
U.S. president Donald Trump said on Saturday that India would buy Venezuelan crude oil to help replace some of the Russian oil it buys, the third largest oil importer in the world. Trump said to reporters on Air Force One, as he flew from Washington to his Florida vacation home, "We have already made that deal. Three people with knowledge of the issue said that on Friday, the United States told Delhi they could resume purchasing Venezuelan oil soon to replace Russian oil imports.
Trump declares that India will purchase oil from Venezuela and not Iran
U.S. President Donald Trump on Saturday said India will buy Venezuelan oil, helping to replace some of the Russian oil that the world's third-biggest oil importer buys. "We've already made that deal, the concept of the deal," Trump told reporters aboard Air Force One as he traveled to his vacation home in Florida from Washington.Reuters reported on Friday that the United States has told Delhi it could soon resume purchases of Venezuelan oil to help replace imports of Russian oil…
SOLV Energy aims for $5 billion valuation at US IPO
SOLV Energy, a solar and battery storage company, said Friday that it aims to achieve a valuation up to $4.99 Billion in its initial public offering in the United States. The San Diego-based company plans to raise up to $512.5 millions by selling 20.5 million shares at a price between $22 and 25 cents each. The IPO market in the United States has recovered after last year's historic U.S. shutdown, which slowed down the Securities and Exchange Commission and stifled the deal flow.