Nikkei reports that Japan's PM has rejected the US request to ban Russian imports of energy
The Nikkei daily, citing Japanese officials, reported that the Japanese Prime Minister Sanae Takaichi had told U.S. president Donald Trump during their meeting on Wednesday in Tokyo that it would be difficult to ban Russian LNG imports. Sakhalin-2 is a project in which Japanese companies Mitsui & Mitsubishi have stakes. Before Trump's Asia visit this week, the U.S. encouraged buyers of Russian oil…
Palm oil drops to a 12-week low due to weak competitors; second monthly decline is expected
Malaysian palm futures fell for the fourth session in a row on Wednesday, and were headed for a second month-long decline, due to a weakening of rival edible oils and Indonesia's production forecast, as well as a strong ringgit. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for January delivery had fallen 72 ringgit or 1.67% to 4,245 Ringgit ($1,004.97) per metric ton.
Report: Oil and gas projects will be delayed by 2026 due to rising tariffs.
A Deloitte report released on Wednesday showed that the U.S. President Donald Trump’s sweeping tariffs will raise operating costs in 2026. They will also disrupt supply chains, and reduce investment momentum. Energy industry operations are heavily dependent on international supply chains. Materials such as drilling equipment, valves, compressors, and specialized steel, which can be sourced internationally, are essential to their operation.
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, with prices under $7-8 per million British Thermal Units (mmBtu).
India's Adani Green Energy reports higher quarterly profits on strong power sales
India's Adani Green Energy announced a 25% rise in its second-quarter profits on Tuesday. This was due to robust power sales as well as higher capacity utilization. The company is considered a bellwether in the renewable energy industry. It has taken advantage of India's aggressive push to increase clean power capacity. India wants to reach its climate goals by 2030 and its target of 500 gigawatts non-fossil electricity capacity.
Zelenskiy: Ukraine has the funds to import 70% of the gas needed for this winter.
The President of Ukraine, Volodymyr Zelenskiy, said that Ukraine has secured funds to purchase 70% of its natural gas needs for this winter. He also stated that the Ukrainian Government would cover the remaining funding. He appeared to be reassuring Ukrainians that they will have enough energy this winter, after Russia intensified its attacks on energy infrastructure in its war against Ukraine.
BPCL and Oil India plan to expand refinerys worth $11 billion.
Bharat Petrol Corp, the state-run oil company in India, signed three agreements on Tuesday at an industry conference. One of them was with Oil India for a greenfield refinery complex and petrochemical plant worth 1 trillion rupees ($11.38billion) to be built in Andhra Pradesh. BPCL has also partnered up with Numaligarh Refinery, Oil India and Fertilisers & Chemicals Travancore for a 35 billion rupee pipeline across the country.
Palm oil at a five-week low compared to weaker competitors
The price of Malaysian palm oils futures dropped for the third consecutive session on Tuesday, and reached their lowest level in five weeks. This was due to the weakness in edible oils from Dalian and Chicago, as well as a stronger Ringgit. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange had fallen 28 ringgit or 0.64% to 4,345 Ringgit ($1,028.65).
Rio Tinto warns of an uncertain future for Australia's largest aluminum smelter
Rio Tinto warned that Australia's biggest aluminium smelter Tomago may have to close down if it cannot source power at rates commercially viable beyond 2028, when its current electricity deal expires. Tomago Aluminium, the largest power user in New South Wales, was built to take advantage Australia's abundant and cheap coal. Rio Tinto stated that power accounts for more than 40% in Tomago’s operating costs.
Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid
In line with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, world-first project reaffirms UAE’s leadership position in clean energy, directly addressing intermittency of renewables. Project will reimagine potential of renewable energy, delivering 1GW of baseload power at a globally competitive tariff, establishing a…
Palm oil falls to near four-week-low on weak Dalian palm oils, strong ringgit
Malaysian palm futures fell for a second day to their lowest close in almost four weeks, due to Dalian palm and a stronger Ringgit. Market participants were waiting for fresh triggers that would confirm the direction. At closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives Exchange fell 50 ringgit or 1.13% to 4,372 Ringgit ($1,035.04) per metric ton. Donald Trump, the U.S. president, said that China and the U.S.
China drives global underground gas storage growth, International Gas Union says
In a report published on Monday, the International Gas Union said that China would lead global underground storage expansion by 2025. It will add 6 billion cubic meters (bcm), or working gas volume, to increase its total capacity to 19,8 bcm. The world's underground gas storage capacity has increased by 10 billion cubic meters since 2022. China, which contributed the largest increase, is now in sixth position, behind United States, who have 138 bcm.
Palm oil slams Dalian palm oil that is weak, and the strong ringgit
The price of Malaysian palm oils futures fell to its lowest level in three weeks Monday. Dalian palm oil was a major factor, as well as a stronger ringgit. Market participants were waiting for new triggers that would confirm the direction. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery had fallen 23 ringgit (0.52%) to 4,399 Ringgit ($1,041.43) per metric ton, the second consecutive decline.
Trump reverses Biden's rules on copper smelters
The U.S. president Donald Trump reversed on Friday a Biden-era rule on air pollution that had set stricter limits for emissions from copper smelters. Under updated federal air standards, the copper rule finalized in 2024 required smelters reduce pollutants such as lead, mercury, arsenic and dioxins. The White House says that Trump's proclamation will help to promote American mineral security, by reducing the regulatory burden on domestic copper producers.
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.
France's offshore Wind sector is battered by government crises
Offshore wind developers, and suppliers of equipment are bracing themselves for a slowdown. A political crisis in France has caused changes to France's energy framework as well as government tenders to be stalled. Data released on Friday showed that business activity in France declined faster than anticipated in October. Emmanuel Macron's six successive prime ministers…
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, the European Union approved its 19th package of sanctions against Moscow.
Palm trades lower and is set to suffer a second weekly loss
Malaysian palm futures fell on Friday and are on course to record its second consecutive weekly loss. The market is range-bound, as it searches for direction. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery had fallen 29 ringgit (0.65%) to 4,442 Ringgit ($1,051.61) per metric ton. Futures have lost 1.57 percent so far this week.
Prime Minister says nuclear power and perovskite as Japan's energy sources are important
Sanae Takaichi, the Japanese prime minister, told the parliament on Friday how important it is for Japan to have its own sources of energy such as nuclear power and solar cells made from perovskite. Takaichi (64), the first woman to be elected as prime minister in Japan, was elected this week. After her ruling Liberal Democratic Party lost recent elections due to rising consumer prices, she faces a persistent inflation problem.
What are the main issues in India-U.S. Trade Talks?
U.S. president Donald Trump said that he spoke to Indian Prime Minister Narendra Modi this week about trade and that Modi assured him India would restrict its oil purchases from Russia. Indian refiners, who are major buyers of Russian oil, said that they will cut their imports sharply after the United States sanctioned Russia’s top oil producers. This could be a crucial step in a U.S. India trade agreement.