Morocco approves green hydrogen projects worth $32.5 bln
The Moroccan government's green hydrogen committee approved projects worth 319 billion dirhams (32.5 billion dollars) on Thursday. These projects aim to produce ammonia and steel, as well as industrial fuel. The Moroccan committee selected Ortus of the United States, Acciona from Spain and Nordex from Germany to produce green ammonia. It said that a project to produce ammonia by Taqa in the UAE and Cepsa in Spain, as well as a plan to make ammonia fuel and steel by Nareva of Morocco, was also approved.
The world must adhere to climate goals, despite what the US and UK envoys say
Britain's climate ambassador said that despite the United States pulling out, the world must continue to pursue the reductions in greenhouse gas emissions outlined in Paris Agreement. The UK is also moving forward with its goals. Last month, Donald Trump, the president of the United States, withdrew his country as the second largest emitter in the world from an agreement that seeks to limit global temperatures to below 2 degrees Celsius. Rachel Kyte said in an interview during a trip to Pretoria, South Africa.
After Trump's tariffs on crude oil, Mexico is seeking Asian and European buyers
Pemex, the Mexican state-owned oil company, is currently in discussions with buyers in Asia and Europe. This is because it's looking for alternative markets to sell its crude oil after U.S. president Donald Trump imposed import tariffs. This week, Trump implemented tariffs of 25% on goods imported from Mexico and Canada. Canadian crude was exempted from the 25% tax, but Mexican crude will be charged at a 10% rate. Pemex exported 806 000 barrels of crude per day (bpd), of which 57% were shipped to the United States.
After Trump's tariffs on crude oil, Mexico is looking for Asian and European buyers
Pemex, the Mexican state-owned oil company, is currently in discussions with buyers in Asia and Europe. This is because it's looking for alternative markets to sell its crude oil after U.S. president Donald Trump imposed import tariffs. This week, Trump implemented tariffs of 25% on goods imported from Mexico and Canada. Canadian crude was exempted from the 25% tax, but Mexican crude will be charged at a 10% rate. Pemex exported 806 000 barrels of crude per day (bpd), of which 57% were shipped to the United States.
Canada mentions potash and oil as a possible lever to use in the tariff dispute
Melanie Joly, Canada's Foreign Minister, told Toronto businesspeople on Wednesday that Canada may use its oil and gas exports to negotiate if U.S. import tariffs increase. Canada has announced that it will impose tariffs worth C$155 billion on U.S. imports, but so far has not indicated whether or not it would reduce the exports of important commodities to the United States. Canada exports approximately 90% of all its crude oil exports to the United States.
Trump's tariffs against Canada could increase US electricity bills
According to grid operators and energy experts, the rising U.S. electricity prices could rise even more in certain parts of the nation if the 10% tariffs on energy imposed this week by the Trump Administration hit Canadian supplies and triggered retaliation. According to government statistics, the U.S. imports only 1% of all its power, but New York State and other regions, such as New England, rely on Canadian electricity much more. This could mean that utility bills will soon increase for customers.
BP and Mauritania claim leak found at gas project offshore West Africa
The British company BP and the Mauritania Environment Ministry announced on Wednesday that a gas leak had been detected in a well at the Greater Tortue Ahmeyim Gas Project operated by BP off the coasts of Senegal and Mauritania. BP stated that the impact of the leak on the environment was expected to be minimal and the incident will not disrupt production. The first gas was produced by the project, developed by BP in partnership with Kosmos Energy of the United States.
Trump: Japan and South Korea are interested in partnering with the US on Alaska pipeline
Donald Trump, the U.S. In an address to Congress, Trump stated that this pipeline would be the largest of its kind in the world. He said that Japan, South Korea, and other nations wanted to be his partners, with trillions of dollars in investments each. On Tuesday, Ahn Duk Geun, South Korea’s Minister of Industry said that the United States asked South Korea and some other countries whether they were interested in taking part in the Alaskan project to liquefy natural gas. He claimed that Seoul and Washington agreed.
After financial disputes, talks to resume Kurdish crude oil exports have been postponed until Thursday
Three sources said that the talks to accelerate a return of oil exports out of Iraq's semiautonomous Kurdistan Region have been postponed until Thursday due to disagreements between oil companies, and the oil ministry. Three sources said that the meeting was originally scheduled for Tuesday, but the initial talks on Sunday failed to reach an agreement on important issues such as how foreign companies in the region will be paid. This forced the two-day delay.
EUROPE GAS-Prices drop on milder temperatures
The Dutch and British wholesale prices of gas fell on Tuesday morning, as the warmer weather forecasts this week reduced heating demand. However, concerns about the Ukraine-Russian conflict still persist. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was lower by 1.19 euros, at 44.12 Euros per megawatt hour, or $13.59/mmBtu at 0925 GMT. The Dutch May contract is down 1,61 euros, at 43.85 Euros/MWh. The day-ahead contract in the British market was down 4.10 pennies at 104.80 pence/therm.
South Korea and the US form a working group to discuss Alaska LNG project tariffs
Ahn Duk Geun, South Korea’s Minister of Industry, announced on Tuesday that the United States and South Korea have agreed to form a group at a working level to discuss issues such as a pipeline project for gas in Alaska, energy and shipbuilding, tariffs, and non-tariff obstacles. Ahn, a reporter in Sejong, said that the United States had asked South Korea and others if they were interested in taking part in an Alaskan LNG Project. He said that both sides would discuss possible cooperation in the energy sector.
Baker Hughes and Frontier Infrastructure form a carbon capture partnership
Baker Hughes announced on Monday a partnership between Frontier Infrastructure and the United States' largest carbon capture and storage solutions (CCS). Oilfield Services provider adds that it will provide technology solutions for carbon capture projects, power generation and datacenters. Baker Hughes announced that it will leverage key technologies in well design, carbon dioxide compressing and long-term monitoring for Frontier's Sweetwater Carbon Storage Hub to be located in Wyoming.
Ambassador to Washington: Philippines-US defense arrangements will remain intact
Manila's ambassador in the United States, who spoke on Monday, said that existing defence agreements between the Philippines and United States would remain intact under Donald Trump. Jose Manuel Romualdez, a reporter at a forum for foreign media in Manila, said that Ferdinand Marcos Jr., the Philippine president, is willing to travel if Trump can meet him. This could happen in the northern spring. Romualdez responded that "all of this will remain" when asked about U.S. support for security in the Philippines.
The largest raw sugar contract ever delivered is ICE March
According to preliminary information provided by two sugar traders, Friday, deliveries of raw sugar at the expiry date of the contract for March on ICE were 34,385 tons or 1,74 million metric tonnes, the highest ever delivered under that contract. According to two sources, Singapore commodities trader Wilmar was the biggest receiver of sugar with 23,073 tons or around 1,17 million tons. Trader Louis Dreyfus, however, was the biggest deliverer with 9 599 lots (487 656 tons).
Report: Brazil may reduce ethanol import taxes as a nod to Trump
The newspaper O Globo, citing reliable sources, reported that the Brazilian government was considering reducing import taxes on ethanol as a means to reduce inflation and appease U.S. president Donald Trump. The report stated that Brazil hopes to try to convince the U.S. Government to make an exemption for the Latin American country in the recently announced 25% tariffs on aluminum and steel imported. The Brazilian ministry of industry and commerce did not respond immediately to a comment request.
Evergy's pipeline for power users such as data centers has jumped to 11,2 GW
Evergy Inc.'s pipeline of very large electricity clients, such as data centers, has increased to 11,2 gigawatts, which is more than its current maximum total demand. Evergy, a Midwestern company that covers Missouri and Kansas in the United States, has announced an increase of 8% on its capital spending plan for 2025-2029, to $17.5 billion. The demand for cloud computing and artificial intelligence has pushed up U.S. electricity consumption after a two-decade hiatus. This year, the country is expected to hit record levels.
President of COP30 says that China may need to take a more active role in climate change.
Andre Aranha Correa do Lago, the COP30 president-designate, said that China plays a crucial role in combating climate change. Other countries may also look to China for leadership in this field. Correa do Lago, when asked about China's role in climate change as the United States pulls back from its efforts, said that China has played a major part in providing solutions since a number of years. Since Donald Trump took office last month, he has pulled the U.S.
Iberdrola raises its 2025 forecast after exceeding expectations
Iberdrola, Europe's biggest utility, expects to grow its net profit by a single digit percentage this year. This is after the increased earnings of its network business helped push 2024 profits above analyst expectations. Iberdrola's performance is better than what it had predicted in its strategy for 2026. This is a clear sign that the company is achieving results from its shift to building and upgrading grids, and taking a more selective approach towards renewable energy.
Orlen's quarterly EBITDA in Poland increases 73.8% year-on-year
Orlen, a Polish energy company, reported Thursday a 73.8% increase in earnings before interest taxes, depreciation, and amortization. This was slightly higher than analysts' expectations of 11,11 billion. The strong performance in the upstream and gas segment drove this. The company announced that it would recommend an increase in dividends to 6 zlotys for each share, from 4.15 zlotys for 2023. This amount is made up of a progressive dividend guaranteed of 4,50 zlotys and an additional premium, of 1,50 zlotys.
US oil licenses and authorizations for Venezuela
Since the United States first imposed sanctions against Venezuela's energy industry in 2019, it has granted licenses to certain oil companies, allowing them to export Venezuela's oil into specific destinations. Washington imposed sanctions after international observers reported irregularities at elections which have kept Nicolas Maduro on the throne repeatedly. Donald Trump, the U.S. president, announced on Wednesday that he would revoke a license for a U.S. oil producer Chevron Corp.
