Trump's complaint about the trade deficit with EU and what could come next
Donald Trump, President of the United StatesTrump has pledged to reduce a long-standing trade deficit between the United States and the European Union. He says he will do this by imposing tariffs, or forcing the EU to buy more U.S. gas and oil. In a memo entitled "America First Trade Policy", issued by Trump on his first day in the White House…
Document shows that ten EU countries have called for sanctions against Russian LNG and gas
A document obtained by revealed that ten European Union nations have asked the 27-nation group to ban the imports of gas from Russia. This comes as Europe is debating new sanctions against Moscow for its war in Ukraine. The EU is currently preparing its 16th set of sanctions against Russia's economic system…
Sources say that EU plans to allow gas price cap to expire
EU diplomats have said that the European Union will let its gas cap expire at the scheduled time of the month. This is a sign that the worst of Europe’s energy crisis, which began in 2022, has passed. After months of high energy costs caused by Russia's slashing of gas supplies after its invasion of Ukraine, Brussels introduced the first price limit in December of 2022.
Palm fell due to export concerns and Indonesia's biodiesel plan
Malaysian palm futures fell on Wednesday due to concerns over export demand and the uncertainty surrounding Indonesia's biodiesel mandate. At the close, the benchmark March palm oil contract on Bursa Derivatives Exchange fell 9 ringgit or 0.21% to 4,356 Ringgit ($968.00). The contract gained 0.62% during the previous session.
Palm slips due to export concerns and Indonesia's biodiesel plan
Malaysian palm futures declined on Wednesday, reversing gains made earlier, due to concerns over export demand and the uncertainty surrounding Indonesia's mandate for biodiesel. At midday, the benchmark March palm oil contract on the Bursa Derivatives Exchange fell 32 ringgit or 0.73% to 4,333 Ringgit ($963.53) per metric ton.
SOCAR sources: Russia and Ukraine cannot agree on gas deal mediated by Azerbaijan
Azeri SOCAR, a leading energy company in Azerbaijan, said on Friday that Moscow and Kyiv failed to reach an agreement on the deal brokered by Azerbaijan for Russian gas to be exported to Europe via Ukraine. Azerbaijan was asked by the European Union and Ukraine to facilitate talks with Russia regarding a gas-transit deal due to expire this year.
Prices of EUROPE GAS are bound by range as stable supply caps gains
The Dutch and British wholesale gasoline prices were mostly range bound on Thursday morning, despite the colder weather. The benchmark contract for the Dutch TTF hub rose by 0.18 euros to 41.45 euro per megawatt-hour (MWh) at 0920 GMT. Meanwhile, the contract for February was up by 0.13 euro and now stands at 41.38 euro/MWh.
Prices for European gas rise as renewed Russian focus on gas is renewed
The Dutch and British wholesale gas price rose on Tuesday afternoon due to renewed concerns about Russian gas supplies to Europe starting in January. By 1505 GMT the benchmark front-month contract for the Dutch TTF hub had risen 1.87 euros to 41.83 euros/MWh, or $12.87/mmbtu. This was a continuation of the gains made in the morning.
Nuclear roadblock to EU's new renewable energy target
On Monday, pro-nuclear countries expressed their opposition to the European Union's plans for a renewable energy goal. They said they would not support a goal which excluded atomic energy. Nuclear power is a controversial energy source that has caused political disagreements among the 27 EU member states. These…
Document shows EU is looking to geothermal energy in its drive for energy security
A draft EU document revealed that the European Union plans to promote geothermal power as it searches for ways to replace Russian natural gas and lower energy prices. According to a draft document, the 27 EU member states will endorse geothermal power for the first-time at the meeting of EU energy Ministers in Brussels, next week.
Greece announces new round of subsidies on household electricity bills
Greece announced on Friday a new round in subsidizing electricity bills to assist households struggling with the rising costs of electricity in December. Greece spent almost 10 billion euros ($10.58billion) on power bill subsidies to households and businesses between 2021 and 23. This is the largest amount of subsidies that an EU country had ever paid as a percentage of its GDP.
Gazprombank's Gazprombank order has led to a rouble rally and a reduction in the gas market
The rouble and European gas prices both fell on Friday. This was due to market speculation that Moscow's efforts to assist Gazprombank in bypassing U.S. sanctions would keep Russian gas exports flowing. The decree was signed by Russian President Vladimir Putin on Thursday. It stated that the state-owned Gazprombank will only accept roubles for payment of gas exports.
EUROPE GAS Benchmark hits 13-month-high on lower Russian flow and colder outlook
On Monday, the European benchmark gas contract reached its highest level for 13 months as Russian gas flows via Ukraine were slowed down slightly. Colder weather was forecast and gas storage levels continued to fall in Europe. By 0912 GMT, the benchmark front-month contract for the Dutch TTF Hub rose by 1,18 euros to 49.08 euro per megawatt hour(MWh), or $16.12/mmBtu.
Document shows that the EU Commission has set a 50% storage target by February 2025.
The European Commission announced on Friday that Europe had set a target to have its gas storage 50% full by February 1, 2025. This is to ensure supply security amid cold weather forecasts and fears of Russian gas disruption. It is important to ensure that the gas supplies of the EU do not fall too low during the winter months…
Palm gains from firmer Chicago soyoil; production concerns in Malaysia
Malaysian palm futures rose on Wednesday, for the third session in a row. This was boosted by the firmer Chicago soyoil as well as production concerns. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery gained 36 ringgit or 0.76% to 4,771 Ringgit ($1,072.62) per metric ton.
Ukraine's DTEK will receive 107 million euros from EU and US for the rebuilding of power facilities
The European Commission and the United States have announced that Ukraine's largest private power company DTEK will receive 107 millions euros ($112,30 million) to restore the power plants destroyed by Russian attacks against the Ukrainian energy system. The company stated that it would receive 62.8 million Euros from the EU, and $46.1 from the U.S. Government.
ArcelorMittal delays planned green investments for EU
ArcelorMittal is the second largest steelmaker in the world. It announced on Friday that it was delaying green investments due to uncertainty over European Union regulations. ArcelorMittal received 850 million Euros ($885 million) from the French Government in January to support its 1.7 billion Euro decarbonisation…
Greece Aims to Wean Tourist Islands from Fuel Imports
Greece signed a deal with the European Commission and the European Investment Bank (EIB) on Thursday to set up a fund that will help its tourism-reliant islands wean off fossil fuel and reduce power costs, the Greek government said.Greek Prime Minister Kyriakos Mitsotakis met EIB's Chair Nadia Calviño on Thursday.
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 standards will protect the United States' LNG trade with Europe…
UN chief warns at COP29 that if you don't pay up, the climate will lead to disaster for humanity.
At the COP29 Summit on Tuesday, United Nations Secretary General Antonio Guterres urged world leaders to "pay up", in order to prevent climate-driven humanitarian disasters. He also said that time was running short to limit a destructive increase in global temperatures. Nearly 200 countries have gathered in Baku for the annual U.N. Climate Summit.
