The US SEC settles with the former CFO of smart window maker View
Former chief financial officer, View, settled a lawsuit filed by the Securities and Exchange Commission in the United States. The suit claimed that he had negligently allowed View to understate costs of replacing "smart" windows with defective ones. According to a filing made Wednesday in San Jose federal court, lawyers for Vidul Prakash…
What might Maduro have to offer Trump? What could Maduro offer Trump in potential talks?
Venezuelan President Nicolas Maduro is in a position to use crude oil cargoes that Venezuela sells mainly to China as a bargaining tool if Venezuela decides to negotiate with the United States. The Trump administration has increased its military presence in Caribbean and has stated that it is willing to talk to Maduro. His government…
CNOOC Ships First Golden Arrowhead Crude from Guyana To China
According to shipping and trade data, China, the world's largest oil importer will receive its first Golden Arrowhead Crude cargo from Guyana by December. Producer CNOOC Ltd is looking to expand markets for this new grade. CNOOC loaded a million-barrel shipment onto the Very Large Crude Carrier Sophia in November. The cargo will be discharged on December 15 in Huizhou…
Glencore reduces Century Aluminum stake from 33% to 33% following tariff-driven rally
Glencore cut its stake in Century Aluminum from 10% to 33%. This has resulted in millions of dollars in profit following the share price rally that was sparked by U.S. Tariffs on Aluminium Imports. On June 4, U.S. president Donald Trump increased the tariffs on aluminum imports from 25% to 50% in order to encourage investment in the production of this metal in the United States.
Canada Names Ksi Lisims LNG Project for Fast-Tracking
Canada said on Thursday it will add the proposed Ksi Lisims LNG facility to its major projects list for fast-tracking, a designation the company behind the project said makes it more likely to proceed.Prime Minister Mark Carney made the announcement in Prince Rupert, British Columbia, where the facility would be located with direct shipping access to Asia.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The French parliament voted on Wednesday to suspend the controversial pension reform, as budget bills for next year are pushed through under constant threats to the survival of the government. Solvay announced on…
Top official: India may miss its 2030 green hydrogen production targets
A senior government official stated on Tuesday that some green hydrogen projects in India, which are geared towards export, will likely start later than initially planned, due to global policy uncertainty. This could delay the country's clean-fuel ambitions. Santosh Sarangi said that the country expects to reach its original target of 5 MMTPA by 2032 and produce 3 million metric tons (MMTPA)…
Vitol Delfin LNG, IRH and IRH Sign 20-Year LNG Supply Agreement
Vitol announced on Wednesday that International Resources Holdings (IRH) had signed a 20 year agreement with Delfin and Vitol to purchase and sell 1.0 million tonnes of liquefied gas per annum from Delfin’s U.S. export facility. The deal stipulates that Delfin LNG would supply LNG free-onboard to Vitol. Vitol will then act as an offtaker and deliver volumes to IRH Global Trading.
Judge rules that the former CFO of smart window maker View is subject to SEC charges
A federal judge has ruled that the former chief financial officer for View, who was accused of negligently allowing the manufacturer of "smart" windows to understate costs of replacing defective windows by the U.S. Securities and Exchange Commission. In a decision handed down on Monday evening, U.S. district judge Beth Labson Freeman of San Jose…
Norway's Kongsberg Group to spin-off maritime business through IPO
Norwegian defence contractor Kongsberg Gruppen - maker of the Joint Strike Missile system - announced on Thursday that it would spin off its civilian focused Kongsberg Maritime in an initial public offer on the Oslo Bourse. In a press release, Kongsberg Group said that the synergies among the different business areas had diminished over the years.
Trade executives say that global LNG demand will rise as new supplies lower prices.
Trading executives at the Asia Gas Markets Conference on Tuesday said that global liquefied Natural Gas (LNG), demand will rebound due to new supply entering the markets, which is expected to drive prices down and spur the interest of price-sensitive buyers. Mohammad Arif is the head of LNG Asia Pacific at Uniper. He said that demand would gradually develop…
Sources say that Congo's cobalt exporters are still waiting for approvals.
Four industry sources said that cobalt producers are still waiting on government approval for the resume of exports. A quota system was introduced in October and it was expected that shipments would restart immediately. The system replaced an export suspension of several months that had disrupted global supply chain and rattled electric car manufacturers, especially in China, the top consumer.
Urals Shipping Rates to India Rise in October
Freight rates for shipping Urals crude from Russia’s western ports to India rose sharply in October, driven by strong export volumes and mounting sanctions pressure, industry sources told Reuters.U.S. President Donald Trump on Wednesday imposed further sanctions on Russia's two largest oil producers, Lukoil and Rosneft.On the same day…
Energy Traders Steer Shipping Toward Greener Horizons
The maritime industry is charting a new course toward decarbonization, yet this time round it is not only traditional shipowners at the helm. Major energy and commodity traders, whose shipping operations often carry large carbon footprints, are now investing in cleaner and more efficient shipping. With the International Maritime…
Poland, US Look to Boosting US LNG to Central Europe
Top Polish and U.S. energy officials discussed a potential boost of supplies of U.S. liquefied natural gas (LNG) via Poland to Central Europe to reduce the region's dependence on Russian gas, Poland's energy ministry said on Tuesday.Last week, Poland's Deputy Energy Minister Wojciech Wrochna and U.S. energy secretary Chris Wright…
Turkey Maintains Russian Oil Imports in October
Turkey is set to maintain its imports of Russian Urals crude oil in October at around 280,000 barrels per day (bpd), unchanged from September, according to LSEG shipping data and market sources.October exports to Turkey may even surpass September's volume as additional cargoes are confirmed later in the month, reflecting Turkey’s continued demand for Russian barrels…
UK Targets Lukoil, Rosneft, Shadow Fleet with Sanctions
Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 51 shadow fleet tankers on Wednesday in what it described as a new bid to tighten energy sanctions and choke off Kremlin revenues.Lukoil and Rosneft were designated under the Britain’s Russia sanctions laws for what London described as their role in supporting the Russian government.
The French higher ups are an outlier in a windy environment.
The German wind energy supply was a negative factor on the European wholesale electricity prices on Wednesday, but France's day-ahead price position was boosted by a decrease in solar production. In a day-ahead German forecast, LSEG analyst Xiulan He said that the wind supply would increase steadily up until hour 14. After which it will stabilise and then show a slight decrease.
Oil Prices Settle 1.5% Lower as US-China Trade Tensions Persist
Oil prices fell on Tuesday, settling 1.5% lower as the International Energy Agency warned of a huge supply glut in 2026, and as trade tensions persisted between the U.S. and China, the world's two biggest economies.Brent crude futures fell 93 cents, or 1.5%, to settle at $62.39 a barrel. U.S. West Texas Intermediate crude was down 1.3%, or 79 cents, at $58.70.
US Sanctions on Iranian Oil Target Sinopec
The latest U.S. sanctions on Iranian petroleum exports deal a blow to Chinese refining giant Sinopec by targeting a terminal through which the state major handles one-fifth of its crude oil imports, industry executives and analysts said.The sanctions announced on Thursday further complicate U.S.-China relations, coming ahead of…