Made in Nigeria: Africa's drive to become a solar superpower
In pink overalls they pack the tested products to be shipped from the Salpha Energy solar assembly plant near Calabar, West Africa. It's not happening at home anymore. Salpha Energy, which began in 2017, has produced solar power systems for over two million Nigerian households and businesses. It aims to produce up to 300,000. Salpha Energy is part and parcel of the green leadership that Africans attending the U.N. COP30 Climate Summit in Brazil want to promote and showcase.
The Black Sea Infrastructure is at risk, according to the Romanian National Defence Strategy
A draft national defence strategy released on Wednesday said that Romania must strengthen its ties with allies along the Black Sea to protect energy projects, which will make Romania the largest gas producer of the European Union in 2027. In the past two years, the EU and NATO member state has been repeatedly violated by Russian drones. Mines have also been spotted in the Black Sea along key trade and energy routes. Bulgaria…
Source: India's power giant NTPC is planning to enter the coal gasification business.
Sources familiar with the plan said that NTPC, the Indian coal power company, is planning to enter the coal gasification market. The company plans to produce 5-10 million tonnes of synthetic gas per year over the next 3-4 years. Source: The company is currently looking for sites to build the project and is preparing a tender for technical consulting for the project. Source: NTPC, who also uses coal from their own mines, wants to use coal in the production of synthetic gas.
Dow closes at record high; traders bet against government shutdown
The Dow Jones Industrial Average closed at a record-high on Tuesday. This was boosted by progress in ending the longest U.S. Government shutdown. Nvidia, and other companies related to artificial intelligence, fell due to renewed concerns over high valuations. The Polymarket betting platform has fully priced in a resolution for this week, as members of the U.S. House of Representatives returned to Washington, after a break of 53 days, for a possible vote that would end the government shutdown.
At COP30, California Governor Newsom blasts Trump for 'dumb' US climate policy
California Governor Gavin Newsom told an audience at the COP30 Climate Summit in Brazil that California would continue to prioritize the use of green technology while criticizing U.S. president Donald Trump's decision to reverse federal government policy on climate change. He lamented, at a meeting with Germany's Vice Minister for Climate and other state officials, that the Trump administration was censuring the clean energy market to China.
Russian Oil Exports Remain Stable Despite Recent Sanctions
Russia has maintained a steady pace of oil shipments from its sea ports at the start of November despite fresh U.S. sanctions imposed on the country's largest oil companies, traders said and LSEG data shows.The United States last week introduced sanctions against Russia's two biggest oil producers, Lukoil and Rosneft. These are the first direct sanctions on Russia imposed by U.S.
Newsom assures California's climate'reliable partners' at the COP30 summit in Brazil
California Governor Gavin Newsom arrived in Belem, an Amazonian city, with a message to the COP30 Summit: despite Washington's abandonment the state will remain a "reliable" partner on climate policy and eco-technology. Newsom, a strident opponent of U.S. president Donald Trump, has been hinting at a presidential run in 2028 for months. He is scheduled to meet officials from some 195 countries that are attending the U.N. Climate Negotiations this year.
Brazilian plants approved to export sorghum and distillers grains to China
The Brazilian Agriculture Ministry announced on Monday that Brazil had received approval to export dried distillers grains and sorghum to China. China has given the green light to 10 Brazilian plants for the export of sorghum. Five were also cleared to ship DDG and DDG solubles, which are used in animal feeds, to China. China is Brazil's largest soybean buyer. It has sought to diversify its animal feed ingredients as well as its sourcing, after a dispute with the United States this year curtailed U.S.
Oil Prices Rise as US Shutdown Talks Advance, Oversupply Concerns Remain
Oil prices edged higher on Monday as investors assessed moves aimed at ending the U.S. government shutdown while concerns around oversupply in the crude market persisted.Brent crude futures rose 43 cents, or around 0.7%, to $64.06 a barrel by 1409 GMT. U.S. West Texas Intermediate crude was at $60.18 a barrel, also up about 43 cents or 0.7%.The U.S. Senate on Sunday moved forward on a measure aimed at reopening the federal government and ending a now 40-day shutdown that has sidelined federal workers…
Lukoil declares Force Majeure in Iraqi oilfield following US sanctions
Four sources familiar with the situation said that Lukoil declared force majeure on Iraq's West Qurna-2 giant oilfield on Monday after Western sanctions against the Russian oil major hindered its operations. Lukoil didn't immediately respond to an inquiry for comment. Last month, the United States and Britain imposed sanction on Rosneft, Russia's largest oil company, and Lukoil. Three sources confirmed that Iraq had stopped all crude and cash payments to the company.
US sanctions threaten to disrupt Lukoil's international assets
The sale of Lukoil's overseas assets to Swiss commodity traders Gunvor has been blocked by Washington, which is a result of U.S. sanctions. Lukoil has a global footprint that includes upstream oil and natural gas projects, refineries, and fuel distribution networks in Europe, Central Asia and the Middle East. The company produces a half-million barrels of crude oil per day, 0.5% of the global oil production, outside of Russia in countries like Iraq, Kazakhstan, and Azerbaijan.
Lukoil declares Force Majeure in Iraqi Oilfield after Sanctions
Four sources familiar with the situation said that Lukoil declared force majeure on Iraq's West Qurna-2 giant oilfield on Monday after Western sanctions against the Russian oil giant hampered the oil major's operations. Lukoil didn't immediately respond to an inquiry for a comment. Last month, the United States and Britain imposed economic sanctions against Lukoil, Russia's second largest oil company. Iraq has stopped all crude and cash payments to Lukoil, according to three sources.
Sponsored: Record Deals and Record Attendance Underscore ADIPEC’s Global Impact
Record-breaking 239,709 attendees from 172 countries gathered at ADIPEC 2025, reaffirming UAE’s convening power and its role as a global hub for energy, partnerships and innovation. ADIPEC 2025 generated an estimated US$400 million in economic benefits for Abu Dhabi’s economy, particularly across the hospitality, tourism and transport sectors. Expanded AI Zone and dedicated industry areas showcased the role of AI, digitalisation, decarbonisation, chemicals and low-carbon solutions in advancing energy resilience.
Greece signs long-term LNG supply agreement with US
Greece signed a 20-year deal to import 0.7 bcm of liquefied gas each year, starting in 2030. This is its first long term gas supply agreement with the United States. The deal aims to replace Russian gas shipments into Europe. The 20-year agreement comes just months after Trump's administration and the European Union inked a trade agreement in July. Europe pledged to purchase $250 billion of U.S. oil, LNG, and nuclear technology annually over the next three-year period as it sought to phase out Russian natural gas by 2027.
The US wants Europe to continue using oil and gas instead of renewable energies
The world's investments in renewable energies aren't paying off and should be focused on securing a reliable supply of fossil fuels. This was the message from U.S. Energy and Interior Secretaries this week, as they tried to convince Europe to purchase more U.S. gas and oil. On the back of U.S. shale gas boom, the U.S. is now Europe's largest oil and natural gas supplier. Its companies are trying to increase their share at a time when the European Union is attempting to cut off all remaining Russian energy imports.
US EPA grants 14 biofuel exemptions to small refineries
The Environmental Protection Agency announced on Friday that it had approved 14 requests for exemptions from the biofuel blend mandates of the United States, while denying two. These decisions have cleared the backlog of requests for exemptions that the EPA had accumulated under the administration of former president Joe Biden. The EPA approved 140 petitions this year in part or full, and only 28 were denied. This leaves just a few from previous years that are still under review.
Baker Hughes reports that US oil and gas drillers have added rigs to their fleet for the third time in just four weeks.
Baker Hughes, a leading energy services company, said that U.S. energy companies added oil and gas rigs this week for the third consecutive time in just four weeks. The number of oil and gas rigs, a good indicator of future production, increased by two in the week ending November 7 to 548. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year.
Qcells furloughs 1000 workers in US solar factories because of stalled shipments
Qcells, a U.S. subsidiary of Hanwha of Korea, has announced that it will lay off 1,000 workers from its Georgia plants because U.S. Customs officials are routinely delaying shipments of parts it needs. The company announced the news months after it said that some of its shipments had been held at U.S. port under a law which will be in effect by 2021 and ban imports from China’s Xinjiang due to concerns over forced labor. Qcells is investing $2.5 billion in a complete U.S. supply chain for solar panels to compete with China.
Palm trades are rangebound before MPOB data
Malaysian palm oils futures were trading in a narrow range on Monday, despite the weaker export numbers weighing on markets. Traders are also waiting for supply and demand data from Malaysia Palm Oil Board (MPOB). At the midday break, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 1 ringgit or 0.02% to 4,110 Ringgit ($973.01), a metric tonne. The contract dropped 0.96% during the previous session.
Palm oil support muted despite modest data from MPOB
Malaysian palm futures were not much changed on Monday as the Malaysian Palm Oil Board (MPOB's) data supported the market. However, gains were limited by weaker November Export figures and a strengthening ringgit. At the close, the benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 2 ringgit or 0.05% to 4,111 Ringgit ($973.25) per metric ton. The contract dropped by 0.96% during the previous session.