The prize is worth billions of dollars, but winning it is the key: Russell
Decarbonising steel is one of the biggest challenges to meeting climate goals. However, it could be extremely profitable for those companies and governments willing to take on the risk. Steel value chain is responsible for 7 to 9% global carbon emissions. It is the biggest industrial contributor, and therefore a primary target for many countries' and companies' goals for net-zero in 2050.
German contract not traded
French spot prices rose Tuesday for the Wednesday session, and forecasts indicated a mixed output of renewables in Germany. LSEG data shows that the French baseload rate for the day was 93.5 euros ($100.97 per megawatt-hour) at 0958 GMT. This is a 2.8% increase. The data revealed that German day-ahead electricity had not yet begun trading at the time, despite closing on Monday at 108.75 Euros/MWh.
Cuba is on track to install fifty solar parks by the end of this year, according to the Ministry
The Energy Ministry announced late Wednesday that Cuba was making progress with a China-backed project to install over 50 solar parks in this year, capable of producing more than 1,000 Megawatts. This comes just days after Cuba's outdated grid collapsed, leaving millions without power. Energy officials released the most detailed report on the progress of the plan…
Ecopetrol executive: We are looking to expand our in-house energy production to include wind power.
Ecopetrol, Colombia's state energy company, is looking at new investments, including purchasing projects run by multinationals to meet its own energy needs. A company vice president revealed this on Wednesday. Julian Lemos is Ecopetrol's vice president of strategy and new business. He said that the plan would look to integrate…
Trump hosts top US oil executives as trade wars threaten
Donald Trump, the U.S. president, will be hosting top oil executives in the White House this Wednesday to discuss plans for boosting domestic energy production amid falling crude prices and trade wars. This will be Trump's first meeting with oil and gas executives since he returned to the White House in January for his second term.
Due to Germany's increased solar output and weak demand, the price is slightly lower.
The European spot price for electricity was slightly lower on Friday as the main market Germany experienced higher solar intensity, a weaker demand and decreased gas-burning supply. This overrode anticipated gains in France. Guromarie Wyller of LSEG, an analyst, said that the fundamental situation in Germany will loosen slightly tomorrow due to increased solar power output and decreased demand.
Tata Power, India's Tata Energy unit, is exploring a $5.6 billion investment in clean energy in Andhra Pradesh
Tata Power Renewables Energy Ltd. (TPREL), an Indian company, said it was exploring the possibility of setting up seven gigawatts of green energy in Andhra Pradesh's southern state for a total investment of 490 billion Indian Rupees ($5.63billion). TPREL is a Tata Power unit that looks at clean energy projects, including solar, hybrid and wind, with or without storing solutions.
Ukraine's gas imports are still low despite Russian attacks on gas production
The operator of the state-run transmission system for gas reported that despite the massive Russian missile strike on Ukrainian gas production over night, Ukrainian gas imports remained relatively low on Friday. Naftogaz, the Ukrainian state gas company, said that Russian forces have targeted Ukraine's infrastructure for energy production and damaged its natural gas production facilities.
German contracts untraded
French spot power fell on Thursday as the weather warmed up and demand decreased. German spot power, however, was traded at a premium to France due to lower green energy production. LSEG analyst RiccardoParviero stated that the expected losses in German Wind Power Generation remained a positive factor for the area, even though usage is also declining and thermal availability has strengthened.
Devon Energy's production increases help it beat the fourth-quarter profit forecast
Devon Energy, a Devon Oil subsidiary, beat the analysts' estimates for its fourth-quarter profits on Tuesday as higher production offset lower prices. The U.S. Energy Information Administration reported that total oil production reached a record of 13.6 millions barrels per day during December. This was due to improved efficiency, which allowed oil producers to pump more.
German wind volume to rise - a warning
The European spot price for Wednesday dropped on Tuesday, as German wind production volumes are expected to double. France is also set for a significant fall in consumption. The LSEG analyst Naser Hahemi wrote that "residual loads are down in Germany due to the increase in wind energy production." This is an indicator which shows…
Trump appoints US Oil Advocate to Lead Public Land Bureau
Kathleen Sgamma is a vocal advocate of oil and gas for Western States. She will be heading the Interior Department Bureau of Land Management which oversees the use of nearly 250 million acres of country's public lands. Sgamma is the head of Western Energy Alliance which represents oil companies operating on federal land. He had…
China will roll back clean energy subsidies after boom
China's top economic planner said on Sunday that it is taking steps to reduce subsidies for renewable energy after an explosion in solar and wind installations. China has surpassed its own record for solar installations by 45% in 2024. China has installed more than 6 times as much solar power in China today, according to the International Renewable Energy Agency.
US Energy Secretary criticizes net-zero policy in new order
According to a Wednesday order by Energy Secretary Chris Wright, the U.S. Department of Energy prioritizes expanding energy production above achieving net-zero emissions of greenhouse gases. The secretarial orders are meant to align the Department with President Donald Trump's priorities. Trump has called climate changes a hoax…
WEC Energy's quarterly profit increases as it expands its data center services
WEC Energy Group announced on Tuesday a profit that more than doubled during the fourth quarter. The electric utility benefited from lower operating costs and higher revenues as it expanded its service to Microsoft data centers. U.S. energy companies, like Milwaukee's WEC Energy, are embracing the rise in demand for electricity…
Senate confirms Chris Wright, a fracking executive, as Trump's Energy Secretary
The U.S. Senate confirmed Chris Wright as President Donald Trump's Energy Secretary on Monday. Wright is a fracking executive. Seven Democrats and an Independent who caucuses alongside Democrats crossed the aisle. Wright, 60 years old, has been the CEO of Liberty Energy, since 2011. He announced that he would step down as soon as the confirmation was received.
Premier Energies, India's largest solar energy company, halts U.S. plans for solar cell facilities amid policy uncertainty
Premier Energies, a manufacturer of Indian solar modules, announced on Monday that it would put on hold its plans to build a solar cell factory in the U.S. capable of producing 1 gigawatt. This decision was made after President Trump's inauguration and his halting green policies from the Biden era. In July 2024, Premier and North American Solar Module Maker Heliene announced a joint-venture to build a U.S.
Russell: Europe imports more LNG as it draws cargoes out of Asia.
In January, the world's imports will reach their highest level in a single year as Europe's winter demands draw cargoes from Asia's top consumer region. According to commodity analysts Kpler, a total of 38.12 millions metric tons super-chilled gasoline is expected to be imported by January. This represents an increase from the 37.69 in December, and the highest since January 2024, when 38.73 was imported.
Leading think tank: Wind is best for Sweden to achieve its climate goals.
A leading think-tank said that the cheapest way to help Sweden meet its projected rise in electricity demand and achieve net zero emissions by the year 2045 would be to build more wind farms onshore rather than increasing nuclear power plants. The Swedish government wants to build 10 new nuclear plants by 2045, as the transport and industrial sectors are moving away from fossil fuels.
Russell: Europe imports more LNG as it draws cargos from Asia
In January, the world's imports will reach their highest level in a single year as Europe's winter demands draw cargoes from Asia's top consumer region. According to commodity analysts Kpler, a total of 38.12 millions metric tons super-chilled gasoline is expected to be imported by January. This represents an increase from the 37.69 in December, and the highest since January 2024, when 38.73 was imported.
