Indonesia and US firms sign trade, investment agreements worth $7 billion
The U.S. ASEAN Business Council reported that Indonesian & U.S. firms signed 'trade and investment agreements worth more than $7 bn? on Wednesday, a day before Indonesian President Prabowo?Subianto meets with U.S. president Donald Trump for a meeting to sign a final deal. According to a U.S. ASEAN Business Council fact sheet, the agreements were signed during a dinner hosted by U.S. Chamber of Commerce for Prabowo.
Italy's Tenaris beats estimates for fourth-quarter sales on North America demand
Tenaris, an Italian steel pipe manufacturer, reported a 5% increase in net sales for the fourth quarter late on Wednesday, surpassing analysts' expectations, thanks to strong demand in North America. The net sales of the quarter ending December 31 increased from $2.84 to $3 billion, largely due to a 29% increase in North America tube sales that helped offset declining revenue in South America and Europe.
Minister Trinidad is confident that gas projects with Venezuela can proceed.
The energy minister for the twin island nation, Trinidad and Tobago, said that the government was confident two major 'offshore gas' projects with Venezuela, to be 'operated' by Shell, BP and Trinidad National Gas Company, will go ahead despite the political changes in OPEC's country. Since U.S. forces captured Nicolas Maduro in the last month, they have'relaxed sanctions on Venezuelan energy industry.
Canada boosts investments in Ukraine's Energy Sector
The two governments announced on Wednesday that Canada would increase its support for Ukraine's energy industry, working with the industry to provide?oil and gas equipment at favorable terms, as well as boost investments in renewable energy. As part of the full-scale invasion that began in February 2020, Russia has attacked power stations, gas installations, and electricity transmission lines.
Glencore returns $2 billion to its shareholders despite earnings decline
Glencore, the commodity trader and miner, announced its results for '2025 on Wednesday. This was just weeks after Rio Tinto, a larger rival, failed to make a takeover offer. The talks to create a global mining giant worth $240 billion were halted earlier this month due to valuation and ownership disagreements. This highlights the challenges faced by diversified miners who are trying to scale up in order to meet the rising demand for essential minerals.
Exxon is committed to moving quickly on Guyana gas project, but it needs demand sources for the gas, says executive
Exxon Mobil's chief upstream said that the company is 'committed' to moving quickly to develop natural gas resources in Guyana, but the government of the South American country must advance industrial projects if it wants to ensure a long-term demand for the gas. Exxon Mobil, the company that leads the oil consortium operating Guyana's Stabroek Block has been pressed by the 'Guyanese' government to develop and build natural gas projects…
Venezuela tensions are set to ease, resulting in a rise in the oil production potential of Guyana
Geopolitical experts and oil specialists?said that the tiny oil-producing country of Guyana has an opportunity to expand its economy amid the ongoing U.S. activities in Venezuela. This is ahead of the Guyana Energy Conference. The 'growth potential' of Guyana was the focus at the four-day conference that began on Tuesday, in Georgetown. Executives and government officials met to discuss the efforts to train the local oil workforce…
Sweden and other countries oppose the calls to delay the new EU carbon market
A joint?paper of the countries revealed that Sweden, Denmark and Finland have resisted calls from other European governments to postpone the EU's forthcoming?carbon markets, as political pressure increases for the bloc reduce?energy prices. The paper focuses on the second carbon market in the European Union, also known as ETS2, which will be implemented from 2028 and impose a CO2 price for fuels used to heat homes and transport vehicles.
What's in the EU's proposed 'Made in Europe' law draft?
Next week, the European Commission will introduce a new law requiring a minimum percentage of products to be "made in Europe" when using public money to support 'key strategic technologies. Why do it? Why do it? Prioritizing European-made products in public contracts will allow the EU to leverage the financial power of public procurement, which is more than 2 trillion euro ($2.37 trillion), or 14% of EU output. What will the law do?
Venezuela tensions are set to ease, resulting in a rise in the oil production potential of Guyana
Experts in geopolitics and oil said that the tiny oil-producing country of Guyana, which is already one of the fastest-growing economies in the world, has a window for expansion due to the ongoing U.S. activities in Venezuela. The growth potential of the oil and gas industry will be at the forefront of a four-day conference beginning Tuesday in Georgetown. Government officials and executives will discuss how to increase investment…
US permits oil majors to resume Venezuelan operations and broadly approves new energy investment
The U.S. eased its sanctions against Venezuela's energy industry on?Friday. It issued two general licenses allowing global energy companies? to resume oil and?gas operations in the OPEC?member?and other companies?to negotiate??contracts? on investments in???new???energy operations?. The Treasury Department’s Office of Foreign Assets Control has issued a license allowing Chevron BP Eni Shell Repsol and Repsol resume their oil and gas operations.
China's biotech licensing boom will reach record levels in 2026, as pipelines swell
As global drugmakers cut costs before patents expire, they are increasing their search for China's experimental medicines. Industry analysts predict that licensing deals this year will reach a new record. According to Pharmcube, the value of such deals signed by companies within Greater China - including Hong Kong, Macau, and Taiwan – rose tenfold from 2021, to an unprecedented $137.7 Billion. Mainland China is at the forefront of this search.
France plans to increase decarbonised electricity production by 20% in a decade and encourage demand
The French government will aim to increase electricity production by nuclear and renewables in the next decade. They are also planning to publish an electrification strategy to encourage the shift away from fossil fuels. Lescure, in response to questions regarding the newly-published energy planning law (PPE), said that he would be meeting with leaders of the industry…
Trump ends US vehicle emission standards, revokes climate regulations
On Thursday, the administration of President Donald Trump announced that it had repealed a scientific conclusion that greenhouse gasses endanger human life and removed federal tailpipe emission standards for cars and trucks. The administration has rolled back its climate change policies in the most dramatic way possible, following a series of regulatory changes and other…
Sources say that Venezuela's PDVSA has expanded its oil fields to joint venture partners.
Three sources familiar with the matter said that the state-run PDVSA of Venezuela is currently in discussions with its joint venture partners including Chevron Repsol and Maurel & Prom to expand the oilfields assigned to their respective projects. This could lead to an increase in crude and natural gas production. Venezuela's National assembly?approved a reform of the main oil law in late January…
EU's von der Leyen defends carbon market after leaders' criticism
Ursula von der Leyen, President of the European Commission, said that the European Union's emissions trading scheme has "clear benefits" and safeguards in place to reduce the price of?carbon? if the price rises too much. Leaders of Germany, Italy, and the Czech Republic said this week that the EU should reconsider its ETS. This comes amid industry calls to reduce the price they impose on pollution.
France's new Energy Law slashes Renewable Targets, Eases Pressure on EDF
After years of debate, France has finally passed a new law on energy that reduces its "wind and solar" targets and removes the mandate for EDF (the state-owned firm) to shut down nuclear plants. We need to stop the internal family fighting. "We need both renewables and nuclear," said Roland Lescure, finance minister. After almost three years, the law will be passed by decree after bitter debate among legislators.
Norway oil investment set to decline by 2026, according to a survey
A 'quarterly survey' of the oil and gas industry revealed on Thursday that Norwegian investments in the sector are likely to?decline this year and next, as fewer new projects are being undertaken and more field?developments have been completed. Norway is the world's second largest oil producer and supplies about 30% of Europe’s gas after it became its biggest pipeline gas supplier in 2022, following Russia's invasion.
Energy secretary warns against legitimacy of Chinese deals
Chris Wright, the U.S. secretary of energy, urged on Wednesday that the U.S. invest more in Venezuela during the most high-level visit to the U.S. focused on energy policies in almost three decades. Wright also warned about the legitimacy of Chinese companies in the OPEC nation. Wright stated that the U.S. After a meeting with the Interim President, Delcy Rodriquez, at the Miraflores Presidential Palace in Caracas, the U.S.
Brazil will rebuild ethanol stock in the new harvest following a 21% decline in 2025-2026
Analysts and industry data suggest that Brazil's sugar mills and ethanol producers will be strongly prompted to build up ethanol inventories for the harvest of 2026-2027, as biofuel prices are at multi-year highs. Sugar?futures are also hovering around five-year lows. According to data from Brazil's agriculture ministry, ethanol?stocks totaled 5,81 billion liters on Jan. 15. This is down 20,7% from 7,33 billion liters one year ago.