NYT: Trump's ally Novatek signs deal with Russia on natural gas in Alaska
The New York Times reported that American financier 'Gentry Beach', who is a close friend of Donald Trump's family, had signed an agreement last fall with Russia's Novatek to develop natural gas for Alaska during the Western sanctions against Russia. Trump and Russian President Vladimir Putin held talks in Alaska in August to end Russia's war against Ukraine. On the sidelines of negotiations, U.S. officials and Russian officials discussed a number of?potential deals in energy.
In February, Russia's oil revenues and gas revenues are expected to have halved y/y.
Calculations showed that the Russian state's?oil?and?gas revenue in February 2025 will be almost half as much at 410 billion roubles (5.35 billion dollars) due to a stronger currency and lower oil price. The Kremlin's main source of revenue is oil and gas revenues, which account for more than a quarter of the federal budget. However, this amount has been drained since Russia started its military campaign against Ukraine in February 2022.
Oil Prices Increase 1% Ahead of US-Iran Talks
Oil prices edged up on Monday as investors weighed the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases.Brent crude futures settled 90 cents, or 1.33%, higher at $68.65 a barrel. U.S. West Texas Intermediate crude was at $63.75 a barrel, up 86 cents, or 1.37% at 2:14 p.m. EST (GMT 1914). The contract did not have settlement on Monday because of the U.S.
France's new Energy Law slashes Renewable Targets, Eases Pressure on EDF
After years of debate, France has finally passed a new law on energy that reduces its "wind and solar" targets and removes the mandate for EDF (the state-owned firm) to shut down nuclear plants. We need to stop the internal family fighting. "We need both renewables and nuclear," said Roland Lescure, finance minister. After almost three years, the law will be passed by decree after bitter debate among legislators. It also reverses an earlier legal mandate that required 14 reactors to close.
Andy Home, Andy Home: The US and Canada are now working together to secure critical minerals.
The U.S. president Donald Trump just announced "Project Vault", an $12 billion stockpile of critical minerals intended to protect U.S. manufacturing companies from disruptions in supply. The U.S. will need help to fill the Vault with 60 minerals that are currently classified as "critical". The U.S. is reviving friend-shoring as it seeks to form a metal alliance with China to break its stranglehold on the metals at the heart of modern technology. The U.S. is more popular than ever.
France Slashes Renewable Energy Targets in New Law
France set out a new energy law after years of wrangling on Thursday which slashes its wind and solar power targets and drops a mandate for state-run firm EDF to shutter nuclear plants."We need to stop our internal family squabbling. We need both nuclear and renewables," finance minister Roland Lescure told reporters.The law, to be pushed through by decree on Friday after almost three years of bitter disagreement among lawmakers…
Andy Home, Andy Home: The US and Canada are now working together to secure critical minerals.
The U.S. president Donald Trump just announced "Project Vault", an $12 billion stockpile of critical minerals intended to protect U.S. manufacturing companies from disruptions in supply. The U.S. will need help to fill up the Vault's 60 critical minerals. The friend-shoring game is back and with a vengeance. As the U.S. tries to build a metal alliance to loosen China’s grip on the metals at the core of modern technology. The U.S. has more friends now than ever.
Merz, Germany's Merz, promises arms cooperation while he seeks to increase Qatari energy
German Chancellor Friedrich Merz promised to take a more-restrictive approach to arms exports to Gulf States during a visit to 'Qatar' on Thursday. The trip came as Europe’s largest economy seeks to deepen economic ties and to diversify its sources of energy. Merz has launched a campaign aimed at promoting Germany as an attractive country for doing business, as the U.S. tariff policy is driving countries to look elsewhere for trade agreements. Media reports claim that he has already visited Brazil, India, and South Africa.
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, which invaded Ukraine in full force almost four years ago, has been conducting an "energy terror campaign" since October 2025. This includes attacking power stations and overpowering air defence systems.
Australian state approves Kimberley fracking plan, drawing anger
The state's environmental protection agency approved a controversial fracking proposal in Western Australia's remote, ecologically sensitive Kimberley region on Tuesday. This angered environmental campaigners. Bennett Resources, an American-based private subsidiary, Black Mountain Energy, presented its Valhalla Plan in 2021 for fracking?upto?20 wells. Later, it increased the amount water needed per well from 40 to 100 millions litres.
Nordzucker, a German sugar company, expects to lose money as the market for sugar remains weak
Nordzucker, Germany's second largest sugar refiner, warned that it could suffer an operating loss due to the low EU sugar prices, which are affecting producers across the market. The unlisted company stated that it expects a loss of operating income in the high double-digit millions for the current year. This is much worse than anticipated. In its previous financial year, it reported an operating profit of 100 million euros ($116 million). EU sugar prices have fallen to a four-year-low and world sugar prices are at a?five-year-low.
US permits talks about Lukoil’s foreign assets to continue until February 28,
The U.S. Department of Treasury on Wednesday extended the license for companies to 'talk' with Russian energy giant Lukoil regarding buying their foreign assets by more than one month, until February 28, 2019. On October 22, President Donald Trump sanctioned Lukoil, one of Russia's largest energy companies, and Rosneft, the other, as part a campaign to put pressure on Moscow for its involvement in Ukraine. Lukoil listed its assets for sale soon after.
Climate activist shareholder group pushes BP, Shell on plans for declining oil demand
The group Follow This, a climate activist shareholder group, and more than?20 investors filed resolutions on Wednesday asking BP and Shell how they would create value if the global demand for gas and oil declined. The resolutions are a strategic change on the part the Dutch activist group. In April, it announced that it had been forced to stop its campaign to get major oil and gas producers to commit to emissions reductions due to a lack investor interest.
Climate activist shareholder group pushes BP, Shell on plans for declining oil demand
The group Follow This, a climate activist shareholder group, and'more than '20 other investors filed resolutions on Wednesday calling on BP to explain how it will generate value if the global demand for gas and oil declines. The resolutions are a strategic change on the part the Dutch activist group. In April, it announced that it had to suspend its campaign to get major oil and gas companies to commit to emission?cuts due to lack of investor interest. Follow This filed climate resolutions during shareholder meetings starting in 2016.
What's at stake in Uganda’s presidential elections?
On Thursday, Ugandan President Yoweri Museveni is seeking to extend his four decade rule in an election which has raised questions about his eventual successor. Although political analysts claim that Museveni and the National Resistance Movement (NRM), his party, are almost certain to win the presidential and parliamentary election due to their stranglehold over Ugandan institutions, the outcome of the vote could have significant implications for the 'path' forward for the country. Who are the candidates?
Veteran Ugandan leader eyes new term amid succession talk
After a violent campaign and questions over his successor, it is expected that Ugandan President Yoweri Museveni will extend his four-decade reign in an election held on Thursday. Museveni, a former rebel leader and former president who toppled his predecessor in 1986 is now 81 years old and faces seven opponents. He claims that another four years at the helm - his seventh term – would enable him to "protect" Uganda's relative stability and peace. Bobi Wine is the main challenger among the seven candidates.
TotalEnergies Snags Exploration Nod Offshore Lebanon
French oil company TotalEnergies TTEF.PA has obtained government approval for a new exploration permit offshore Lebanon, it said on Friday.Total, which owns a 35% operating stake in the permit, will begin 3D seismic surveys on Block 8 with partners Eni ENI.MI (35%) and QatarEnergy (30%).The French company began looking for natural gas in Lebanon in late 2022, following the government's landmark agreement of a maritime border with Israel in the Mediterranean Sea.
Oil Edges Lower as US Reaches Import Deal with Venezuela
Oil extended declines on Wednesday as investors digested statements from President Donald Trump that the U.S. had reached a deal to import up to $2 billion worth of Venezuelan crude, a move that would lift supplies to the world's largest oil consumer.Brent crude futures were down 40 cents, or 0.7%, to trade at $60.31 a barrel by 11:05 a.m. ET (1605 GMT) after falling to $59.88 a barrel earlier in the session.U.S. West Texas Intermediate crude fell 74 cents…
Oil Prices Fall After Biggest Annual Loss Since 2020
Oil prices dipped on their first trading day of 2026 after registering their biggest annual loss since 2020 as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuela exports.Brent crude futures lost 55 cents to $60.29 a barrel by 11:16 a.m. ET (1616 GMT) on Friday while U.S. West Texas Intermediate crude was down 53 cents at $56.89.Russia and Ukraine traded allegations of attacks on civilians on New Year's Day despite talks overseen by U.S.
What just happened? Ten charts that will help you understand the market in 2025
The past year will not be forgotten soon. The conventional wisdom about investor behavior and economics was often challenged in 2025 as technology, energy, and geopolitics influenced markets in unexpected ways. Here are ten charts that explain what happened in the year 2025, and what this might mean for 2019. Donald?Trump’s "America First " agenda was a key driver of market growth in 2025, particularly during the first half. The U.S. President wasted no time in delivering on campaign promises to move?from "free" trade to "fair trade".