The US government is under pressure from the Fusion Energy Industry to provide billions of dollars in support
On Monday, fusion energy industry leaders met U.S. Department of Energy representatives to encourage them to provide billions of dollars to projects that seek to?generate electrical power by the same process as the sun. In November, the?department?created an Office of Fusion as part of a reorganization which focused on fossil and nuclear energy. Renewable energy offices were eliminated. The Trump administration has reversed billions in funding that former President Joe Biden authorized for?hydrogen- and renewable energy projects. Andrew Holland…
Florida lawmakers ask Trump to reject drilling on the western coast of Florida
Florida's entire U.S. Congress delegation urged President Donald Trump on Thursday to exclude their state from a plan of his administration to expand drilling for oil and gas to new coastal areas. They said it would threaten Florida's tourism and military industries. The letter from Florida Senators Rick Scott, Ashley Moody, and the 28 House members of Florida was a rare example of bipartisan opposition to the Republican President's policies. The majority of Florida's congressional members are Republicans. The letter stated that more than 50,000 jobs are linked to military facilities in the Florida Panhandle.
US solar companies ask Congress to act on Trump's solar permit freezing
In a letter sent to Congress leaders on Thursday, dozens of U.S. Solar companies called for federal lawmakers to reverse a Trump Administration policy that had stalled permits. The letter highlights the growing concerns of project developers about President Donald Trump's Interior Department increasing its scrutiny of solar permits at a time when energy demand is on the rise. CONTEXT In a memo from Doug Burgum, Interior Secretary in July, Burgum requested his signature on dozens of types of solar permits. This included projects on federal land as well as those on private land that involved federal resources or consultation.
Minister says 60% of Morocco's water will be supplied by desalination
Rabat, the capital of Morocco, is accelerating investment in renewable energy-powered desalination plants, and plans to increase its supply of drinking water by 60% by 2030. This will be up from 25%. It is vital to maintain a steady supply of water and the status of Morocco as a major producer and exporter fresh produce in an era of climate change. Droughts have dried up many of its water reservoirs, and underground resources are depleted. Nizar Baraka, speaking on the sidelines at the World Water Congress held in Marrakech on Thursday, said that the North African country intends to produce 1.7 million cubic metres of desalinated drinking water per year by 2030.
Pemex debt should be a red flag to potential partners when Mexico looks to increase oil production
Over a month has passed since Pemex's head made an appeal for partners to assist Mexico's state oil company in boosting production. But national and international companies are still not responding. Pemex has a mountain of debts, ranging from Italian producers such as Eni, to U.S. service companies SLB and Baker Hughes, which, combined with rigid contract terms, have dampened interest among potential partners. Four industry insiders said that foreign oil companies are more worried about Pemex not paying them on time. This puts Pemex’s production goal of 1.7m barrels per day at risk. Pemex's production has plummeted over the last two decades.
US federal funds for energy production will decline by 11% by 2025
Interior Department reported on Friday that revenue from energy production in U.S. public waters and lands fell by 11% to $14.61 Billion during the last fiscal year, citing lower commodity prices like oil. The total is the lowest since 2021 - the first year under the administration of U.S. president Joe Biden - but the fifth highest since 1982. As part of his agenda to dominate the energy sector, President Donald Trump pledged to increase energy production on federal land and waters while keeping prices low for consumers. Interior Department reported that the U.S. spent $14.61 billion on energy production in federal, tribal and offshore areas.
US EXIM will invest $100 billion in order to secure vital mineral supplies, FT reports
John Jovanovic, chair of the U.S. Export-Import Bank, told The Financial Times that the bank will invest $100 billion in order to secure U.S. supply chains and those of its allies for essential minerals, nuclear energy, and liquefied gas. Jovanovic, a journalist, told the paper that the first deal will cover projects in Egypt and Pakistan, as well as Europe. He added that the West is overly dependent on the supply of these essential materials, which "are not fair". Jovanovic told The FT that early deals for the bank would include a guarantee…
Florida Republicans Oppose Trump's Offshore Oil Leasing Plan
Florida Republicans, led by Governor Ron DeSantis have said that they are opposed to a plan of the Trump administration which could allow for new oil and natural gas drilling off Florida's Gulf Coast.The reactions were in response to a proposal by the Interior Department published on Thursday, which contemplated future oil leasing in an eastern portion of Gulf of Mexico that is heavily used for military training and testing.Congress ruled out energy development in the region nearly 20 years ago. President Donald Trump, who is a Republican and was elected during his first term…
Trump administration could delay biofuel credit cuts as refiners balk
According to sources familiar with this matter, the Trump administration may delay for one or even two years the proposed cut in incentives for biofuels imported from the United States. This is due to pressure by U.S. refining companies who claim that the move would increase costs and reduce fuel supplies. The current delay could be welcomed by domestic oil refiners who have invested in bio-based diesel, but it would frustrate U.S. biofuel and agricultural producers. The Environmental Protection Agency's proposal to reduce the value of renewable fuel credit given by the U.S.
Mexico's Pemex claims it has halved its supplier debt under the current government
The chief executive of Pemex, Mexico's state owned oil company, said that the company has paid off half its debts with suppliers since Mexican president Claudia Sheinbaum assumed office in October 2024. In a speech to Congress, Chief Executive Victor Rodriguez stated that the company has paid out 300 billion pesos (16.33 billion dollars) in supplier debts as of September. He also said they had used a newly created financial vehicle to settle these debts. In an appearance before Congress, Rodriguez stated that the company had paid off its financial debt on time and correctly. The amounts owed to the suppliers were also cut in half.
US regulators are pushed to connect data centers with grid
The U.S. Energy Secretary Chris Wright directed federal energy regulators this week to examine a rule that would speed up the connection between power-hungry, data centers and electric grids. Wright sent a rule to the Federal Energy Regulatory Commission on Thursday, allowing customers to submit joint, colocated requests for interconnection of load and generation. The Energy Department said that the rule will reduce the study time and cost for improving the grid while also reducing the amount of time it takes to bring additional power online.
States sue Trump to stop cancellation of $7 Billion Solar Grant Program
According to court documents, nearly two dozen states have filed a lawsuit against the Trump administration for canceling a $7 billion grant aimed at increasing solar energy in low income communities. In a Thursday statement, California Attorney-General Rob Bonta announced that a group states who received grants through the Environmental Protection Agency’s Solar for All Program have filed two lawsuits. In August, EPA Administrator Lee Zeldin officially announced the end of the Solar for All program. In an email, the agency stated that it will not comment on any pending litigation.
Milei's Argentinean counterparts could face challenges if Vaca Muerta oil production slows down.
The Vaca Muerta oil field in Argentina, which is the fourth largest unconventional oil reserve in the world, has plateaued due to low oil prices and increasing costs. This slowdown could complicate Javier Milei's political agenda. The Vaca-Muerta formation, located in western Argentina, accounts for 64% the country's total oil production despite only 8% being under development. It's vital for Argentina's future economic and Milei's Government, who needs to increase Argentina's energy exports in order to boost Argentina's dollars reserves and build trust in the government's capability to maintain a currency stable.
The US government shutdown could disrupt the IPO market momentum
The U.S. shutdown could stall the long-awaited return of the IPO market, even though strong investor demand and successful debuts have boosted new listings. Deep partisan differences prevented Congress and White House from reaching an agreement on funding. The Securities and Exchange Commission will no longer process IPO documents. This includes companies such as Jennifer Garner's Once Upon a Farm, a baby food company, and Beta Technologies, a maker of electric aircraft. With a wave successful debuts in the fall window, there are hopes that 2025 will be a breakthrough year for IPOs. High interest rates and volatility have stalled this market for almost three years.
Mexico's budget deficit will be lower by 2026, as the economy grows.
The Finance Ministry said in its budget proposal on Monday that Mexico expects the budget deficit to drop to 4.10% in 2026, due to the expected growth of the GDP. The government is under pressure to reduce the deficit. It now expects to close 2025 with 4.32%. At the same time, it has pledged to increase social programs and strengthen the finances of the heavily indebted oil company Pemex. The government has also predicted that Latin America's 2nd largest economy will expand between 1,8% and 2,8%, an increase of up to 1.3 percentage points at both ends.
Mexico's Pemex signs the first mixed contract with private companies to boost oil production
According to a government report presented to Congress by President Claudia Sheinbaum, the Mexican state oil company Pemex has signed its first mixed contract with private sector partners to try to reverse the declining hydrocarbon production. In her first report to Congress, sent on Monday, President Cristina Fernandez said that the 11 agreements, which were signed under a newly-created contractual framework resulting from the most recent energy reform, marked the beginning of Pemex’s plan to sign 21 similar deals this year. The company anticipates that the initiative will add up to 450,000 barrels of crude oil per day (bpd), by 2033.
Trump's options for easing Russia sanctions are limited in comparison to Europe
Donald Trump, the U.S. president, could lift some sanctions against Russia quickly as a way to reward Moscow for successful peace talks with Ukraine. However only Europe can make the larger steps necessary to ease Russia's cash crisis. Trump has threatened to impose additional sanctions and tariffs against Russia and its oil buyers if there are no signs of progress in the three-and-a-half-year long war in Ukraine. If the talks are successful, Trump could start to ease some of his punitive measures. Trump has a number of options, including releasing Russian assets, reopening U.S. loans to Russian corporations and banks, and allowing U.S.
Venezuelan Oil Exports Declined in July as Partners Awaited US Authorizations
Venezuela's oil exports declined about 10% in July from the previous month as key partners of state company PDVSA awaited U.S. authorizations to expand operations in the country, according to vessel tracking data and company documents.Washington in late July green lit producer Chevron to operate in the sanctioned country and export its crude to the U.S. under a restricted license that does not allow any payment to Venezuelan President Nicolas Maduro's administration.Other PDVSA partners are still waiting for similar authorizations.Chevron's chief executive Mike Wirth said on Friday the company expects to resume exports of Venezuelan oil to the U.S.
Albemarle confirms that the Chilean lithium plant is operating normally following an incident last week
Albemarle told the press on Tuesday that its La Negra lithium plant in Chile was operating normally following an "incident", which occurred last week. A local legislator had said that authorities were investigating. Albemarle, without giving any further details, said that there were no injuries, and the sales of metal used in lithium-ion battery manufacturing are not expected be affected. It wasn't immediately clear whether operations were temporarily halted last week. Albemarle did not provide any further details about the incident. Jaime Araya represents the Antofagasta Region where the plant is situated in the Chilean Congress lower house, the Chamber of Deputies.
Republican lawmakers slow down Trump Treasury picks on wind and solar credits
According to a government source and document, two Republican senators put holds on the nominations of three Treasury Department nominees by U.S. president Donald Trump over an effort made by the White House to make it more difficult for companies to claim credits for solar and wind energy projects. Senators Chuck Grassley from Iowa and John Curtis from Utah hails states with large renewable industries. They support federal tax credits to lower the cost of solar and wind farms. Grassley's announcement was published in the Congressional Record Friday. Curtis was held by Curtis on Monday, according to a source familiar with the matter.