Oil Edges to 2-Week High on Ukraine News
Oil prices edged up about 1% to a two-week high on Friday as the intensifying war in Ukraine this week boosted the market's geopolitical risk premium.Brent futures rose 66 cents, or 0.9%, to $74.89 a barrel by 11:39 a.m. EST (1639 GMT), while U.S. West Texas Intermediate crude CLc1 rose 77 cents…
Trump Energy Pick writes ESG report praising oil and gas, while downplaying climate worries
According to a report that he wrote as the CEO of oilfield service company Liberty Energy, Donald Trump's nominee to head the Energy Department believes fossil fuels will end world poverty. He says this is a bigger problem than the "distant threat" of climate change.
COP29 hosts urges collaboration as final negotiations of the deal enter stage
Azerbaijan, the host of COP29's climate summit, urged participants to come up with a financial deal by Friday as negotiations for the two-week long conference reached their final hours. The world governments present at the Baku meeting, in the Caspian Sea City…
COP29: Climate agenda clashes with trade demands
At the COP29 Climate Summit, trade tensions are escalating. According to U.N. documents, and negotiators, China, Brazil, and a number of other developing countries have complained that perceived barriers, like the European Union’s carbon border levy will undermine climate efforts.
Azerbaijan, summit host, warns that COP29 will not succeed without G20 support
Azerbaijan, the host of the COP29 Climate Summit, said that leaders from the world's largest economies should send a strong message about the urgency to combat global warming. The appeal came at a meeting of the Group of 20 leaders (G20) in Brazil, where climate was just one of many topics on their agenda.
Chris Wright, CEO of the oil industry, is appointed Energy Secretary by Trump
Donald Trump, the President-elect, announced on Saturday that Chris Wright, an oil and gas executive who is a staunch supporter of fossil fuels, will be his choice to lead the Department of Energy. Wright is the founder of Liberty Energy in Denver, a firm that provides oilfield services.
Edison CEO: US utilities want Trump and Republicans to save the inflation act
Pedro Pizarro said that the U.S. Utility Industry wants the incoming Trump Administration and the Republican-led Congress in Congress to maintain clean energy and EV Tax Credits in the Inflation Reduction Act. The 2022 IRA is a law that contains hundreds…
US soyoil prices jump as China reduces export incentives for biofuel feedstocks competing with US soyoil
U.S. Soyoil Futures rose 2% on the Friday after China announced it would reduce export incentives for certain products, including used cooking oils. Used cooking oil is a low-cost source of feedstock that U.S. Biofuels Makers use instead domestically produced soybean oil.
Spanish utility Cox shares drop in the market debut
The shares of Spanish water and clean energy utility Cox dropped more than 3% on their first trading day, amid market concerns about renewable energy after Donald Trump won the U.S. Presidential election last week. Stocks opened at 10,24 euros ($10.83)…
After cutting debt, Vallourec pays first dividend after 10 years
French steel tube maker Vallourec announced on Friday that it will pay its first dividend for 10 years, after further reducing its debt and completing its financial restructuring plan. However, the group's shares fell 3% at 0805 GMT after it reported a decline in its third quarter earnings.
Palmettos rise after three days of falling, and is set to experience its first weekly decline in four
Malaysian palm-oil futures were up on Friday, after three sessions in a row of losses. However, they are on track for their first weekly drop in four weeks. The market is awaiting export data to provide further clues. By midday, the benchmark palm oil…
Spanish utility Cox priced shares at 10.23 euro in IPO, implying a market cap of $849 mln
The Spanish water and clean energy utility Cox has set its final price at 10.23 euros per share. This implies a market cap of 805 millions euros. The company announced late on Wednesday that the price had been set at the lower end of the range between 10,23 euros and 11,38 euros.
ERG Italy reduces its core profit forecast for the full year due to low wind levels
The Italian energy company ERG lowered its core profit forecast for the full year on Thursday, citing exceptionally low wind levels during the third quarter. It expects to earn between 520 and 560 millions euros (547 million and $589) in the full year before interest…
Biogas credit slump tied to proposed waiver of supply mandates
Traders and market participants report that the prices for credits for cellulosic production of biofuels fell to their lowest level in more than a year after the U.S. Environmental Protection Agency proposed a partial exemption to its supply mandates by 2024.
Trump selects Burgum as Interior Secretary
Donald Trump, the president-elect, announced on Thursday that North Dakota governor Doug Burgum will be his choice for Interior Secretary. Burgum is a former wealthy software executive. Trump, dressed in a tuxedo, said that the Department of Interior would be headed by him.
Chinese giant CATL expands beyond batteries to power grids and EV platforms
Robin Zeng is the billionaire founder and CEO of CATL. He wants to transform the world's biggest battery manufacturer into a provider of green energy, as well as reduce the costs of developing electric cars, thus upending the economics that have driven the growth of the industry.
Palm oil suffers heavy losses in Dalian competitors oils
The prices of vegetable oils rivals in Dalian have been falling heavily, which has led to a fall in the palm oil futures in Malaysia for a second consecutive session. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery had fallen 114 ringgit or 2.27% to 4…
Biden officials ask EU methane regulations to be aligned with US rules to ease LNG flow, says letter
According to a letter obtained by the, President Joe Biden’s administration asked that the European Union ensure that liquefied gas imports meeting U.S. regulations for methane automatically meet Europe’s standards. The linking of U.S. methane and EU…
The pledge of financing by the Development Bank gives COP29 an early boost
COP29 negotiators have welcomed a commitment by major development bank to increase funding for poor and middle-income nations struggling to combat global warming. This is a positive start to the two week summit. The World Bank and a group of lenders…
Devon Energy expects US crude oil to be priced between $60 and $80 per barrel in the near future
The benchmark U.S. WestTex Intermediate (WTI), crude oil, will be $60-$80 a barrel for the foreseeable future. This was what Devon Energy's Chief Executive Officer told attendees of an energy conference held in Dallas on Tuesday. This price forecast falls within the range of U.S.
