What is Fusion Energy, the Quest that Trump Media is so enamored with?
Scientists and businesses have tried for decades to harness the fusion energy that powers the sun to produce electricity on Earth. The $6 billion merger announced on Thursday between U.S. president Donald Trump's Trump Media and Technology Group and?Google-backed TAE technologies is the latest development for an industry still a long way from commercialization. What is Fusion? The process of fusion energy that powers the…
Germany launches 30 billion Euro fund to mobilize private investment
Germany launched the 30 billion?euro initiative "Deutschlandfonds", aiming to boost competitiveness in Europe's biggest economy by mobilizing private capital. The state-owned KfW will implement the fund coordinated by the Finance and Economy Ministries. It will use guarantees, loans, and equity stakes in order to reduce risk for private investments. KfW says that new guarantees approved by the parliament for next fiscal year account for 95%.
Russell: Despite Trump's trade moves, the US imports to Asia will drop by 2025.
Asia's imports from the United States of crude oil, coal, and liquefied gas are expected to decrease this year in spite of President Donald Trump’s efforts?to increase shipments through his trade and tariff policy. China is the main driver of the decline in US imports. China, as the world's largest buyer of commodities, has slowed down its purchases since Trump increased tariffs on U.S. imported Chinese goods, with an average rate of around 47.5%.
Why US producers are paying attention to Canada's most popular shale play
Executives, analysts, and advisors say that U.S. producers of oil and gas are seeking new drilling territories in Western Canada's Montney Basin, an enormous shale play in a remote area. The basin is already a hub of M&A and may see even more deals in the near future. The United States has become the largest oil producer in the world as a result of extensive drilling on shale deposits over the past 15 years. After a period of rapid expansion…
Japan's JERA signss LNG sales agreement with Hokkaido Gas
JERA, Japan's largest power generator, has signed an agreement to sell and buy liquefied gas with Hokkaido Gas. The deal will see JERA supplying two-to three LNG cargoes per year for seven years starting in 2027. JERA will deliver 130,000-200,000 metric tonnes of LNG per year, delivered ex ship, under the agreement. It said that the deal would strengthen Japan's energy security, diversify JERA's portfolio of LNG sales, and enhance stability and flexibility in the domestic market.
Russell: Despite Trump's trade moves, the US imports to Asia will drop by 2025.
The U.S. trade policies of President Donald Trump, which include tariffs and increased shipments of crude oil and coal to Asia are expected to lead to a decline in imports this year. The drop in US imports is mostly due to?China. As the largest buyer of commodities worldwide, China has slowed down its purchases since Trump increased tariffs on U.S. imported?Chinese?goods. According to commodity analysts Kpler, Asia's crude oil imports are expected to drop to 1.43 million barrels a day (bpd)…
US permits oil sales from Russia’s Sakhalin-2 Project through June 18,
The U.S. extended a waiver on Wednesday that allows oil sales from Russia's Sakhalin-2 Project through June 18, next year. This is a move that will likely allow production of liquefied gas to continue. The general license issued by the U.S. Treasury Department is crucial for U.S. allies Japan who gets around 9% of their LNG from Russia. The license that allows transactions with Sakhalin-2 is a waiver of sanctions imposed by the former president?Joe Biden on this project in 2022 due to Russia's full scale invasion of Ukraine.
Carlyle hires Goldman Sachs to bid for Lukoil assets
Two sources familiar with the matter said that Carlyle, the U.S.-based private equity firm, has hired Goldman Sachs for its bid to acquire Lukoil's assets. The race for the Russian oil company's foreign portfolio is heating up. Carlyle and?U.S. Sources have confirmed that Exxon Mobil, Chevron and Abu Dhabi conglomerate IHC as well as Saudi Arabia's Midad Energy are interested in buying Lukoil assets. Carlyle and Goldman Sachs both declined to comment.
The UK has exempted Egypt's Zohr Gas Field from Russian sanctions
Britain added Egypt's Zohr Gas Field, where Russian oil major Rosneft has a 30% stake - and London-based BP a 10% one – to a list of projects that are exempted from its Russia sanctions. In October, Britain and the United States sanctioned Russia's two largest oil companies, Rosneft, and Lukoil for their involvement in funding Moscow's invasion in Ukraine. The amended?general license, issued on Wednesday, allows for payments and business activities?linked to Zohr up until October 2027.
The UK has exempted Egypt's Zohr Gas Field from Russian sanctions
The UK added Egypt's Zohr Gas Field, where?Russian oil giant Rosneft has a 30% stake? and London-based BP has a 10%?holding?, to a list that exempts Russia sanctions. In October, Britain and the United States sanctioned Rosneft, one of Russia's largest oil producers, for their role in financing Moscow's invasion in Ukraine. The amended general licence, dated?on Wednesday?, allows now payments and business activities linked to Zohr?until?October 2027. BP, Rosneft, Eni and other partners hold a?stake?
Wall St. inches up as investors focus on policy outlook; Oracle slips
Wall Street's major indexes rose slightly in volatile trading Wednesday as investors sought clues about the future of interest rates. However, caution was still evident following reports that Oracle's plans for data centers were facing funding hurdles. Oracle shares fell by 2.8% following a report that Blue Owl Capital, the company's biggest data center partner, said it would not support a $10 billion contract for its next facility.
What changes have been made to the proposed Indian civil nuclear law?
India has proposed legislation that would end the state's monopoly on nuclear power after six decades. This law would allow private companies, and even individuals?to build and run reactors. The bill must be passed by both the lower and upper chambers of parliament before it becomes law. What is the civil nuclear law? Nuclear projects have been restricted since 1962 to companies under the Department of Atomic Energy. This includes Nuclear Power Corporation of India.
FT reports that US investor Kimmeridge has offered $6 billion to gas driller Ascent Resources
The Financial Times reported that activist investment firm Kimmeridge Energy Management had made a $6 billion bid to buy Ascent Resources. FT reported that the bid was the latest attempt to stop Energy & Minerals Group (EMG), a private equity firm backing Ascent, from selling a stake of more than 30% in the company to another fund, valuing Ascent as high as $5.5 billion. Ben Dell, managing partner of Kimmeridge in the United States…
Russia expects oil refining in 2025 to be flat with 2024
The Russian energy ministry announced on Thursday that the country's oil refinery, coal and gas?production?will remain largely unchanged in 2025, compared with 2024, despite repeated Ukrainian drone attacks against energy facilities. Russia is the third largest oil producer in the world, after Saudi Arabia and the United States. It also holds the largest known reserves of natural gas. Since August, Ukraine has resumed drone strikes deep within Russia.
Palm catches up with Dalian rivals, strengthening ringgit caps the advance
The Dalian Commodity Exchange's strength in edible oils rivals helped to support the palm oil futures on Thursday. However, the stronger ringgit limited the gains. By midday, the benchmark palm 'oil 'contract for February delivery at the Bursa Derivatives exchange in Malaysia rose 46 ringgit or 1.13% to $4109 ringgit (US$1,000.97) per metric ton. The futures traded today in positive territory due to the strength of rival oils. The February contract reached a morning high of 4,128 ringgit.
BP and Chevron top the list of bidders in Trump's first Gulf of Mexico Oil and Gas auction
BP, Chevron, and Shell were the top bidders at the first U.S. Government sale of oil and natural gas drilling rights for the Gulf of Mexico since 2023. The auction ended with a total of $279.4 millions in "high" bids. It was the first out of 30 required by President Donald Trump's tax cuts and spending bill that he signed in July. His administration's plans on offshore leasing represent a major departure from those of his predecessor President Joe Biden.
US permits negotiations over Lukoil’s foreign assets to take place until January 17, 2019.
The United States extended Wednesday a deadline for negotiations to buy the global assets of Russian Oil?company Lukoil. It was originally set at?January 17th. Lukoil's assets were put up for sale soon after President Donald Trump imposed sanctions against the two largest Russian energy companies on October 22, as part of a campaign to pressure Moscow regarding its war in Ukraine. The assets of the company, which include oil fields, refineries and a retail gas station network, are valued at $22 billion.
US auctions first Gulf of Mexico Oil and Gas since 2023
On Wednesday, the Trump administration will conduct the first government sale of oil-and-gas drilling rights in Gulf of Mexico?since 2023. This is a test of the industry's appetite?for offshore acres at a moment when the United States?is trying to increase domestic fossil fuel production. The auction is one of the 30 required by President Donald Trump's tax-cut and spending bill that he signed in July. His administration's plans are a major departure from those of his predecessor President Joe Biden.
Exxon predicts increased earnings and oil production by 2030
Tuesday, Exxon Mobil announced that it would target a $25 billion?earnings increase from 2024-2030. The company will also?increase its oil and gas production. Exxon's earnings forecast represents a $5-billion increase over its previous plan. However, Exxon plans to maintain the same spending targets of $28 billion - $30 billion annually through 2030. Exxon said its updated corporate plan reflects the company's efforts to reduce costs and?"increase profits" even during periods of oil price volatility.
Turkstream transactions are not subject to US sanctions, Hungary claims
Peter Szijjarto, Hungary's Minister of Foreign Affairs, said that the company operating TurkStream will be able to do business in Hungary?without problems? thanks to an agreement reached with Washington. Hungary continues to depend on Russian energy, despite the conflict in Ukraine and Western sanctions. This has prompted criticism from several European Union and NATO allies. Szijjarto, during a Facebook broadcast in Moscow…