Eskom reports that South Africa is looking for ways to assist ferrochrome companies.
Eskom, the state-owned power utility, announced on Monday that it is looking for ways to support South Africa's ferrochrome sector. Eskom stated in a press release that the memorandum with the two companies was the result of constructive discussions on Friday between the minister of electricity and the energy of the country and the trade unions. Samancor Chrome, the…
Congo miners urge urgent talks on clearing cobalt export backlog
Congo's mining industry has called on the government to hold urgent discussions in order to clarify the new rules for cobalt export. They also said that legal ambiguities, compliance obstacles and delays could cause global battery supply chains to be disrupted. After a month-long ban on cobalt exports, the Democratic Republic of Congo launched a quota system on 16 October.
Minister says UAE wants to increase LNG exports because global demand is outpacing supply
Suhail al Mazrouei, the Energy Minister of the United Arab Emirates, said that his country plans to not only meet its domestic demand for natural gas liquefied, but to also increase exports. Mazrouei agreed with Qatar’s energy minister, that the global demand for gas outpaces investment in production. "We are not only increasing our LNG exports, but also our local LNG demand," Mazrouei said at the Abu Dhabi Financial Week.
Industry group: China's coal demand will fall for the first time in 8 years.
An industry group said that China's coal usage is expected to decline for the first time since 2017, as the power sector reduces its use. However, consumption could grow modestly next year. The China Coal Transportation and Distribution Association's (CCTD) website cited the comments made by a representative during a meeting held on Wednesday but did not provide a precise figure of consumption.
VEGOILS-Palm oil tracks rival soyoil lower
Malaysian palm futures declined on Monday due to the weakness of rival Dalian and Chicago soybean oil prices, which was a result of concerns over China's slow purchase of U.S. soya beans. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery fell by 57 ringgit or 1.37% to 4,095 Ringgit ($996.84). The Farm Trade in Kuala Lumpur…
India does not advise to stop funding clean energy
The Indian Ministry of Clean Energy said on Sunday that it has not issued an advisory to stop or halt any new funding for the sector. On Friday, the Ministry of Finance urged lenders to be cautious in their financing of new solar modules plants due to a surplus supply. Solar manufacturers across the country were rattled by the letter from the clean energy ministry. Many expressed concern that it could choke off financing for the entire industry.
India does not advise to stop funding clean energy
The Indian Ministry of Clean Energy said on Sunday that it has not issued an advisory to stop or pause new financing in the sector. On Friday, the Ministry of Finance urged lenders to be cautious in their financing of new solar modules plants due to a surplus supply. Solar manufacturers across the country were rattled by the letter from the clean energy ministry. Many expressed concern that it could cause a financial squeeze on the entire industry.
Baker Hughes reports that US drillers have added rigs to their fleet for the fourth time in just five weeks.
Baker Hughes, a leading energy services company, said that U.S. companies added drilling rigs this week for the fourth time within five weeks. The number of oil and gas drilling rigs, a good indicator of future production, increased by five in the week ending December 5. This is its highest level since late November. Baker Hughes reported that oil rigs increased by six this week to 413, the highest level since late November.
Virginia data centers to replace coal where coal once reigned
Entrepreneurs are now looking at the rural area with the ambitious vision to rebuild its economic by converting the old mines into data centers and solar power systems that could help feed the growing power demand of the artificial-intelligence boom. A non-profit group called Energy DELTA Lab (Discovery, Education, Learning & Technology Accelerator), which is aiming to develop energy resources on approximately 65…
Congo tightens its grip on cobalt by imposing new export restrictions
According to a government document reviewed by, the Congo has introduced new conditions for exporters of cobalt. This could complicate a recently implemented quota system, as the country tries to maintain a tight hold on this key mineral. Circular shows that the new conditions include, among others, pre-paying a 10% royalty in 48 hours, and obtaining a certificate of compliance.
Chevron plans to deploy rigs in 2026, and participate in the Nigerian oil license auction.
Chevron announced on Friday that it would participate in the next round of oil licensing in Nigeria and plan to deploy a drill rig by late 2026 in order to expand its operations in Africa's largest energy producer. Jim Swartz said that the company aims at growing its footprint in Nigeria. He cited improved regulatory clarity as a result of the Petroleum Industry Act.
Palm gains on Dalian strength and posts second weekly gain
The contract for Malaysian palm oils futures rose again after two sessions of decline, boosted by the strength of Dalian and Chicago vegetable oil. At closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose 47 ringgit (1.14%) to 4,152 Ringgit ($1,010.96) per metric ton. The contract increased by 0.92% in the last week. Dalian's palm oil contract, which is the most active contract, rose by 0.94%.
Sources say that India's ONGC is moving closer to retaining 20% of the Sakhalin-1 project in Russia.
Three sources familiar with this matter have confirmed that India's Oil and Natural Gas Corp. will pay into Russia’s Sakhalin-1 abandonment fund using the frozen dividends of Indian companies to retain a 20% stake in the Sakhalin-1 project. ONGC Videsh Ltd., the overseas investment arm for India's largest explorer ONGC and other state-run Indian firms, have been unable to repatriate around $800 million of dividends on stakes in Russian assets…
Industry head: Colombia will see a jump in renewable energy by 2025, thanks to new players.
Alexandra Hernandez (President of the Colombian Renewable Energy Association, SER Colombia) said that Colombia will end 2025 with 2,685 Megawatts (MW), up 49% compared to 1,800 MW by the end of 2024. This is due to new project commissions as well as some regulatory changes. In the past year, 27 large and medium-sized projects, mainly solar, were completed, as well as three wind projects, and one biomass facility, totaling $2.9 billion in investment.
Serra Verde cancels China offtake deal after being approached by Western firms
Serra Verde, a Brazilian rare earths mining company, has reduced the contract durations of its Chinese processing agreements, allowing it to potentially supply Western companies once their separation capacity is available in the coming years. China is the largest supplier of rare earths in the world, and 90% of it is processed. This makes it vital to electronics, defence, electric vehicles, wind turbines and other industries.
Oil Firms in Norway to Drill 18% Less Exploration Wells by 2026, Survey Finds
A survey on Thursday showed that oil firms in Norway are planning to drill 18% less exploration wells next, as they focus on existing fields. This could undermine the government's aim of maintaining production from Europe's biggest petroleum producer.Offshore Norway's survey of its members shows that drilling and investment will decline next year.The survey revealed that oil companies on the Norwegian continental Shelf…
Palm extends its losses due to weaker oil rivals, and higher stockpile expectation
Malaysian palm futures declined for a second day on Thursday. They were pressured by lower edible oils on the Dalian and Chicago market and rising expectations. At closing, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery fell 47 ringgit or 1.13% to 4,106 Ringgit ($999.03). Weaker rival oilseeds pushed down crude palm oil futures today.
Sources say Exxon will permanently close one steam cracker plant in Singapore by March.
Four sources familiar with the situation said that ExxonMobil will cease operations in March at the older steam cracker on Singapore's Jurong Island. This is part of the global trend of the petrochemicals industry to reduce capacity due to losses. Two sources stated that the shutdown of the plant which was opened in 2002 is expected to be completed by June. Two sources declined to identify themselves because they weren't authorised to talk to the media.
Palm extends its losses due to weaker oil rivals, and higher stockpile expectation
Malaysian palm futures declined for a second day on Thursday. They were pressured by lower edible oils on the Dalian and Chicago market and rising expectations. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for February delivery had fallen 51 ringgit or 1.23% to 4,102 Ringgit ($996.84). Weaker rival oilseeds pushed down crude palm oil futures today.
Clean energy companies in India are seeking better weather data, as regulations tighten.
India's clean-energy producers highlighted the lack of weather forecasting models on Wednesday, while the power regulator proposed stricter rules for developers to adhere to their grid commitments. The Central Electricity Regulatory Commission in India, which regulates the power industry, has issued stricter rules for wind and solar energy producers. This is under the Deviation Settlement Mechanism.