The US SEC settles with the former CFO of smart window maker View
Former chief financial officer, View, settled a lawsuit filed by the Securities and Exchange Commission in the United States. The suit claimed that he had negligently allowed View to understate costs of replacing "smart" windows with defective ones. According to a filing made Wednesday in San Jose federal court, lawyers for Vidul Prakash, and the SEC, reached a principle agreement to end the civil suit, subject to the approval of SEC commissioners.
Signing a maritime demarcation agreement between Lebanon and Cyprus opens the door to possible energy exploration
On Wednesday, Lebanon and Cyprus signed the long-awaited maritime delimitation agreement. This will pave the way for the exploration of gas fields offshore and the energy cooperation in Mediterranean. The agreement was signed at Lebanon's Presidential Palace by the Lebanese president Joseph Aoun, and the Cypriot president Nikos Christodoulides. Both leaders told reporters that the signing would indicate a deeper level of cooperation between Lebanon and EU-member Cyprus. Christodoulides stated, "This agreement is historic.
Official: Serbia is preparing an amendment that will allow it to take over a Russian-owned refinery.
The parliament speaker, who spoke to Euronews Serbia Tuesday, said that Serbia was preparing a change to the draft budget bill to allow it to own its Russian-owned and U.S. sanctioned oil refiner NIS. In January, the Office of Foreign Assets Control of the U.S. Treasury Department imposed sanctions on Russia's energy sector, including NIS. This company is owned in majority by Russia's Gazprom and Gazprom. The U.S. granted NIS multiple waivers until the sanctions came into effect finally in October.
Venture Global and Tokyo Gas Sign 20-year LNG Supply Deal
Venture Global, a U.S. LNG exporter, has signed a deal for Tokyo Gas to receive 1 million metric tonnes per year (mtpa), starting in 2030. Venture Global has now signed its fourth long-term LNG contract with a Japanese firm. The U.S.-based company announced in a Wednesday statement that it had signed LNG long-term contracts totaling 7.75 mtpa over the past six months. This move shows that Japan is increasing its energy purchases from the United States, while President Donald Trump pushes for increased U.S.
Brazil views issues related to the import of US biofuels as 'practically solved'
Geraldo Alckmin, the Brazilian Vice-President, said on Tuesday that "practically all issues" related to Brazil's imports from the United States of biofuels had been "resolved". Alckmin, the Minister of Development, Industry, Trade and Services, said that his comments referred to an easing of rules in the RenovaBio Program to address U.S. concern. RenovaBio promotes the use biofuels like ethanol and biodiesel in place of fossil fuels to reduce greenhouse gas emission.
What might Maduro have to offer Trump? What could Maduro offer Trump in potential talks?
Venezuelan President Nicolas Maduro is in a position to use crude oil cargoes that Venezuela sells mainly to China as a bargaining tool if Venezuela decides to negotiate with the United States. The Trump administration has increased its military presence in Caribbean and has stated that it is willing to talk to Maduro. His government has been struggling to attract foreign investment to the oilfields of Venezuela due to U.S. sanction. According to sources, the U.S.
US federal funds for energy production will decline by 11% by 2025
Interior Department reported on Friday that revenue from energy production in U.S. public waters and lands fell by 11% to $14.61 Billion during the last fiscal year, citing lower commodity prices like oil. The total is the lowest since 2021 - the first year under the administration of U.S. president Joe Biden - but the fifth highest since 1982. As part of his agenda to dominate the energy sector, President Donald Trump pledged to increase energy production on federal land and waters while keeping prices low for consumers.
Russell: COP30 agreement is not important in the battle between renewables and fossil fuels.
It was not realistic to expect anything better from the COP30 Climate Summit than a weak statement that omitted all mention of fossil fuels. It was never going to be easy to bring nearly 200 countries together with vastly different perspectives and make a statement of commitment to fight climate change. After the Belem summit, the question that needs to be asked is, does what the final statement says and doesn't state, really matter?
EUROPE GAS-European benchmark falls to its lowest level in 18 months on the back of a milder outlook and peace talks with Ukraine
On Monday, the European benchmark contract fell under 30 euros for first time since May 20, 2024. This was due to forecasts of a warmer-than-normal climate in the coming two weeks as well as ongoing diplomatic efforts aimed at ending the war in Ukraine. LSEG data shows that the benchmark Dutch front-month contract was 29.25 euros per Megawatt Hour (MWh) or $9.88/mmBtu at 0945 GMT. This is a decrease of 0.99 Euro. This is the lowest price in 20 years.
India's solar panels exports plunge in September due to US tariffs
Industry officials and analysts reported that India's solar modules exports dropped sharply to their lowest level this year in September after U.S. Trade Measures curbed shipments. This forced manufacturers to redirect supply to the domestic market. India's exports of panels to the United States have risen in recent years as developers seek alternatives to Chinese products due to Washington's restrictions. In the Trump administration, the U.S. imposed a tariff of 50% on Indian goods.
U.S. Companies hold their line in climate talks despite Trump
Despite the U.S. Government's deterioration on climate change ahead of the COP30 Summit, American companies didn't shy away. According to an analysis of the attendance lists, there were 60 Fortune 100 representatives at this year's event in Brazil, as opposed to 50 last year at Baku, Azerbaijan. Others attended pre-conferences in Brazil's financial hub Sao Paulo, and Rio de Janeiro. On a U.N. provisional list of summit attendees, Microsoft, Google, Occidental Petroleum and General Motors were all represented.
Russell: COP30 agreement is not important in the battle between renewables and fossil fuels.
It was not realistic to expect anything better from the COP30 Climate Summit than a weak statement that omitted all mention of fossil fuels. It was never going to be easy to bring nearly 200 countries together with vastly different perspectives and make a statement of commitment to fight climate change. After the Belem summit, the question that needs to be asked is, does what the final statement says and doesn't state, really matter?
Takeaways from COP30 Climate Summit in Brazil
The U.N. Climate Change Summit ended this year with a shaky compromise that ignored most of the countries' main demands, except for one: wealthy countries were obligated to triple their expenditures to help other countries adapt to global warming. Here are some key takeaways from COP30, the climate summit that took place in Brazil's Amazonian city of Belem. HOOKED UP TO HYDROCARBONES Luiz Inacio Lula, the President of Brazil…
Russian Urals Discounts in India Triple Since August as US Sanctions Hit
Discounts for Russian flagship Urals crude in Indian ports have tripled since August against dated Brent as U.S. sanctions drive key buyers away from Moscow-supplied oil, three sources involved in the trade said.The United States last month imposed its toughest sanctions yet on Russia’s energy sector, targeting oil majors Lukoil and Rosneft. Friday marks the deadline for companies to wind down all dealings with the two producers.Urals crude has been a mainstay feedstock for Indian refiners since 2023…
Palm drops by over 2% and posts a weekly loss due to weak demand and a strong ringgit
The price of Malaysian palm oils futures fell by more than 2 percent on Friday. This erased earlier gains and led to a loss for the week, due to weak demand, as well as a strong ringgit. At the close, the benchmark contract for palm oil delivery in January on Bursa Derivatives exchange fell 87 ringgit or 2.09% to 4,068 Ringgit ($981.19) per metric ton. The contract dropped 1.45% in the past week. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari.
Kyiv confirms that work is continuing on a technical level between teams studying US proposals
A senior Ukrainian official stated on Friday that Ukraine is calling on its partners respect its position while work continues at the technical level in order to study the U.S.-backed end of war plan. Rustem Umerov, secretary of the National Security and Defence Council said Ukraine's principles would not change: "sovereignty of the people, safety, and just peace". According to the U.S. plan, as seen by, Kyiv will be required to renounce the entire Donbas area and reduce its military.
US Natural Gas Futures Ease 1% on Ample Gas in Storage
U.S. natural gas futures eased about 1% on Thursday on near-record output and ample amounts of gas in storage despite near-historic flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected.The price decline also came despite a federal storage report that showed energy firms pulled gas out of storage for the first time this winter…
Are renewables prepared for the COP30 discussion on fossil fuels?
At the climate summit, it may be premature to declare the end to the fossil fuel age. But up to 80 nations are calling for a concrete plan that will move us away from polluting energy. The 195 countries at the COP30, including the oil producers, will have to agree on a plan to reduce oil and gas consumption. There are also practical challenges to overcome, as the demand for electricity is expected to rise due to the increase in artificial intelligence, and the population growth.
US Natural Gas Futures Climb 4% with LNG Flows, Cold December Forecast
U.S. natural gas futures climbed about 4% on Wednesday on near-record flows to liquefied natural gas export plants and forecasts for higher demand than previously expected as the weather turns colder than normal going into December.Front-month gas futures for December delivery on the New York Mercantile Exchange rose 17.9 cents, or 4.1%, to settle at $4.550 per million British thermal units (mmBtu).LSEG said average gas output in the Lower 48 states rose to 109.1 billion cubic feet per day (bcfd) so far in November…
Trump Administration proposes to relax rules protecting endangered species
The Trump administration proposed on Wednesday four new regulations that would rollback Biden's era regulations that strengthened the protections for endangered animals. This move aligns with President Donald Trump’s efforts to reduce what he calls burdensome federal regulations on businesses. Conservation groups warned that the changes could threaten the survival of endangered species, including Florida manatees and monarch butterflies.