China finds bigger role as US sidesteps Brazil climate summit
China has stepped into the spotlight as a leader of the global warming fight, with the United States missing the U.N.'s annual climate summit in New York for the first three decades. The country's pavilion dominates the entrance of the sprawling COP30 grounds in Brazil’s Amazonian city of Belem.
USDA lowers US soya export forecast after China rejects American shipments
U.S. Department of Agriculture reduced its estimate of U.S. soybeans exports for the current crop year on Friday, after China, which is the top soy buyer in the world, shunned American shipments and favored South American products in its trade dispute with Washington.
As yttrium shortages grow, a new rare earth crisis is on the horizon
Due to Chinese export restrictions on yttrium, global supplies are in short supply. This has led to fears of shortages, and a rise in costs, which could affect aerospace, energy, and semiconductor production. In April, China, which is the primary source of this element…
Trump Administration revokes Biden's limits on Alaskan oil drilling
The Trump Administration finalized on Thursday its rollback of Biden's limits on oil-and-gas drilling in Alaska, the largest area of public land that has not been disturbed by humans. This move is in line with the goal of President Donald Trump to reduce restrictions on domestic gas and oil development…
Almost a Third of Russian Seaborne Oil Export Potential is Stuck in Tankers
Around 1.4 million barrels per day of Russian oil, or almost a third of the country's seaborne exporting potential, remain in tankers as unloading slows due to U.S. sanctions against Rosneft and Lukoil, JPMorgan said on Thursday.The U.S.
IEA Predicts World Oil, Gas Demand Could Grow Until 2050
Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from previous expectations of a speedy transition to cleaner fuels following U.S. criticism about its climate focus.The Paris-based energy…
UAE's Dana Gas signs an agreement to explore the revival of Syria gas fields
Dana Gas, based in the UAE, announced on Wednesday that it had signed an initial agreement with Syria's oil company for assessing the redevelopment of natural gas fields damaged by the 13-year-old civil war which made Syria dependent on imports from Iran.
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.
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.
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…
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.
Kremlin: Putin and Tokayev will discuss gas projects, US sanctions against Russian oil and other issues.
The Kremlin announced that Russian President Vladimir Putin will meet with Kazakh President Kassym Jomart Tokayev in Moscow to discuss gas projects, as well as the impact of U.S. sanctions against Russian oil companies. Dmitry Peskov, Kremlin spokesperson…
Baker Hughes will supply key equipment to Alaska LNG Project
Baker Hughes, a provider of oilfield services, will provide key equipment for the proposed Alaskan LNG project. The project's chief developer announced on Monday that the pipeline and terminal would be built to export natural gas from Alaska's North Slope to Asia and to other markets.
Lukoil Declares Force Majeure in Iraq as Operations Strain Under US Sanctions
Lukoil declared force majeure at its Iraqi oil field, sources told Reuters on Monday, and Bulgaria was poised to seize its Burgas refinery, as the Russian company's international operations buckled under the strain of U.S. sanctions.The force majeure…
Russell: China's imports of major commodities, other than iron ore, are decreasing.
Iron ore, despite steel's signs of pressure, bucking this trend and restraining imports in China. The General Administration of Customs released data on Friday showing that crude oil, natural gases, copper, and coal have all declined since September.
Russell: China's imports of major commodities, other than iron ore, are decreasing.
Iron ore, a commodity that has been resilient in spite of the pressure on the steel industry, was the exception to the trend. The General Administration of Customs released data on Friday showing that crude oil, natural gases, copper, and coal have all declined since September.
Trump proposes Alaska oil sale by 2026, finalizes sale of US Gulf oil leases
It was announced on Friday that the Trump administration would hold an auction to drill oil and gas in the U.S. Gulf of Mexico next month. They have also proposed another one in a waterway located in southern Alaska. About 80 million acres will be available for lease in the U.S. Gulf of Mexico.
Poland is in talks with the US to import more LNG to supply Ukraine and Slovakia
Two sources familiar with negotiations say that Poland is working to secure a deal for the import of liquefied gas from the U.S. in order to supply Ukraine and Slovakia. This agreement would strengthen the European Union's relationship with American energy.
Poland Working on Deal to Import US LNG to Support Ukraine, Slovakia
Poland is working on a deal to import liquefied natural gas (LNG) from the U.S. to supply Ukraine and Slovakia, an agreement that would further tighten the European Union’s ties to American energy, according to two sources familiar with the negotiations.Officials…
Orsted Has No Plans to Merge with Equinor's Renewables Unit
Danish offshore wind giant Orsted said on Wednesday that it had no plans to take over the renewables business of Equinor, its second biggest shareholder, which has proposed closer ties between the companies.Norwegian oil, gas and renewables group Equinor…