Michigan suedes oil companies for collusion to restrain competition in EVs
Michigan Attorney General Dana Nessel filed an antitrust suit against four major oil firms on Friday, alleging that they have colluded over decades to prevent competition from renewable energy sources, including?electric cars. The lawsuit filed in U.S. District Court, western Michigan, names BP and Chevron.
Ukraine needs an energy ceasefire, says top power executive
The head of Ukraine's biggest private power producer said that the country is on the verge of a "humanitarian disaster" due to Russian airstrikes against energy systems. Any future peace agreement must include an end to attacks on energy infrastructure. Maxim Timchenko said that Russia…
Heidelberg Materials CEO at Davos: Defence and infrastructure will drive construction in 2026.
Dominik Von Achten, the Chief Executive of Heidelberg Materials, said that he expects to see a slight improvement in the market for building material this year. The growth will be driven by infrastructure and defense spending. In the next few years, the European Union…
Rio Tinto will supply copper to Amazon to build AI data centers
Rio Tinto announced on Thursday that it will supply copper it leaches from a mine in Arizona to Amazon.com, for use in its artificial intelligence data centers. The move highlights the rampant demand by?the?AI industry to access supplies of copper and critical minerals used in building wiring…
Oil Prices Surge Ahead of Possible Iranian Supply Disruptions
Oil prices surged by about 3% on Tuesday as the prospect of disruptions to Iranian crude exports overshadowed possible increased supply from Venezuela.Brent futures LCOc1 jumped $1.88, or 2.9%, to $65.75 a barrel by 11:07 a.m. EST (1607 GMT), hovering around a three-month high. U.S.
After nearly a decade, the Canadian Prime Minister visits China
Mark Carney, Canada's prime minister, will depart for China on February 2nd to discuss trade and security issues. This is at a time when Canada is facing uncertain relations with the U.S. because of a trade conflict and threats by President Donald Trump regarding annexation.
Gulf stock prices mixed as investors, oil companies and traders weigh Powell probe and Fed outlook
Gulf equities traded mixed on Monday morning as oil prices climbed. Investors weighed the possible impact on interest rates and the dollar of a criminal?indictment against Federal Reserve Chair Jerome Powell. Oil, which is a major catalyst for Gulf markets rose on concerns about supply after the escalating Iranian protests.
Uniper signss long-term agreement with India's AM Green for green ammonia
Uniper, a German state-owned utility, announced on Monday that it had signed a long-term binding agreement with India's AM Green for the purchase of up to 500,000 tonnes of green ammonia each year. The agreement, which was signed during German Chancellor?Merz?s first…
Argentina pays $4.3 Billion to Bondholders and meets critical deadline
A source in the Economy Ministry said that Argentina had paid $4.3 billion on Friday to holders of its sovereign debt. This was done as part of a move aimed at restoring confidence among investors and gaining access to international capital markets. The central bank…
Equinor, a Norwegian company, awards ten-billion-dollar five-year contracts to suppliers
Equinor announced on Thursday that it had signed framework agreements with a group of suppliers worth 100 billion Norwegian crowns (9.93 billion dollars) for the maintenance and modification of its offshore?and onshore?installations. Aibel Group, Wood Group and IKM Group as well as Head Energy…
Equinor, a Norwegian oil company, awards 10 billion dollar contracts to suppliers
Equinor announced on Thursday that it had signed framework agreements worth '100 billion Norwegian crowns (9.93 billion dollars) with a group suppliers for the maintenance and modification of its offshore and "onshore" installations. Aibel, Aker Solutions, Rosenberg…
US Natural Gas Futures Fall Ahead of Warmer Weather, Slow Demand
U.S. natural gas futures began the year on a weak note on Friday, weighed down by forecasts for warmer weather and expectations of slower demand growth.Front-month gas futures for February delivery on the New York Mercantile Exchange were 9.6 cents, or 2.6%, lower at $3.59 per million British thermal units.
Russell: Commodities battered by Trump's whirlwind will find relief in 2026.
The whirlwind tariffs and policies of U.S. president Donald Trump will continue to impact commodities for some time. While the storm may subside in 2026 the ripples are likely to last. Trump's attempts to remake global trade, and his changing geopolitical moves have increased volatility in the commodity markets.
Russia builds its first LNG tanker of the ice class and plans to build two more by 2026
Interfax, citing the CEO of the company, reported that 'Russia's leading tanker group Sovcomflot' received its first Russian-built Ice-class tanker built for liquefied gas from Zvezda Shipyard. It plans to order two more in the next year. Due to Ukraine-related sanction, Russia has difficulty in securing gas carriers.
Meg O'Neill, BP's new CEO, will be the first woman ever to lead an oil company.
Energy industry veteran Meg O'Neill was tapped by BP as the leader of a shake-up within the London-based 'oil major'. She made an immediate impression when she took over at Australia's Woodside Energy and secured a deal which doubled the company's production portfolio.
The new BP CEO has a long-lasting legacy at Australia's Woodside
Energy industry veteran Meg O'Neill was tapped by BP as the leader of a shake-up within the London-based oil giant. She made an immediate impression when she took over at Australia's 'Woodside Energy', securing a deal which doubled the production portfolio. Woodside's…
The new BP CEO has a long-lasting legacy at Australia's Woodside
Energy industry veteran Meg O'Neill was tapped by BP as the leader of a shake-up within the venerable London based major. She made an immediate impact when she took over at Australia's Woodside Energy and secured a deal which doubled the production portfolio. Woodside's…
China's giant polysilicon companies set up an acquisition firm to combat oversupply
Local media reported that Chinese polysilicon manufacturers have established an acquisition?company in order to help restructure a sector plagued by an oversupply. However, it is unclear whether the firm has any concrete plans to purchase and shut down excess capacity.
Report: China invested $80 billion in cleantech overseas last year
According to a recent report from the Australian research group Climate Energy Finance, Chinese companies have invested $80 billion overseas in clean technologies to help absorb an oversupply. According to the report published on Sunday, many countries have also intensified…
Industry group: China's coal demand will fall for the first time in 8 years.
An industry group said that China's coal usage is expected to decline for the first time since 2017, as the power sector reduces its use. However, consumption could grow modestly next year. The China Coal Transportation and Distribution Association's (CCTD) website…