Trump Energy Pick writes ESG report praising oil and gas, while downplaying climate worries
According to a report that he wrote as the CEO of oilfield service company Liberty Energy, Donald Trump's nominee to head the Energy Department believes fossil fuels will end world poverty. He says this is a bigger problem than the "distant threat" of climate change.
Fuels and carbon gain from a curve that shows a fall in spot prices
The European spot electricity prices fell on Friday on the back of forecasts that higher wind generation will be occurring and lower demand on Germany's main market. Forward contracts, however, rose in line with gains on fuel and carbon markets.
Tereos warns that more problems are ahead following the low sugar price which has affected H1 results
Tereos is one of the largest sugar producers in the world. On Wednesday, it reported a 18% decline in its net profit for the first half of its fiscal year, due to a drop in the price of sugar and sweeteners. It also warned that the fall could continue in the second half of its fiscal.
Putin told Scholz that Russia was willing to explore energy cooperation.
In their first telephone conversation since December 20,22, President Vladimir Putin said to German Chancellor Olaf Scholz that Russia would be willing to consider energy deals with Berlin if it was interested. The report said that the two men exchanged "detailed views and opinions" about Ukraine…
Norway's oil and gas sector invests record amounts due to inflation
A survey by the Norwegian National Statistics Office (SSB) showed that investment in oil and gas projects in Norway will reach a new record in 2018. It may even increase in 2025, as inflation increases costs for development. Norway has sanctioned…
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-year period, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother…
IMF and World Bank leaders promise to work with Trump at UN climate summit
The World Bank and International Monetary Fund chiefs said on Tuesday that they would continue to work with Donald Trump's incoming administration in the United States to provide funding to countries affected by climate change. Kristalina Georgeieva, IMF's chief, told a panel at the U.N.
Sources: Exxon will sell its older Permian assets for $1 billion to Hilcorp
Four sources with knowledge of the matter said that Exxon Mobil Corp, the top U.S. oil company, has agreed to sell its conventional oil drilling assets located in the Permian basins of Texas and New Mexico for a price around $1 billion to Hilcorp Energy.
Inpex: Ichthys LNG Train 1 will resume full-scale operation in December
Inpex Corp, the operator of Australia's Ichthys LNG, said that Train 1 will resume full-scale operation at the start of December. This follows a reduction in its operating rate for inspections. In order to maintain safety, the Inpex spokesperson…
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-years, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother…
Financial Times - Nov. 12
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Companies will admit that the UK made a legal mistake in issuing oil and gas licenses. Shell…
US Extends Protections for CITGO to March 2025
The U.S. Treasury Department on Thursday extended a license protecting Venezuela-owned Citgo Petroleum from bondholders to March 2025, a key decision amid a seven-year-long legal case in which the refiner's parent might be auctioned to pay creditors.Citgo's parent…
Germany's chemical lobby calls for regulatory reform and growth agenda
VCI, the industry lobby group in Germany, said that to achieve climate neutrality while remaining competitive and improving its performance it is necessary for regulation changes. VCI, which published two of its own studies, said that the crises…
Spots fall as wind and nuclear power rise
European prompt electricity prices fell on Tuesday, as the wind power supply is expected to increase from levels which caused a rise in previous trading sessions. "Residual loads are lower, but remain at high levels." In a research report, LSEG…
Oil India's Q2 profit forecast misses the mark due to lower prices and muted demand
State-run explorer Oil India reported a smaller-than-expected second-quarter profit on Tuesday, weighed down by lower crude prices and tepid fuel demand. The company's profit grew six-fold in three months to 18,34 billion rupees ($218 million)…
Australia suffers wide losses when central bank keeps rate at 12-year high
The Australian share market continued to decline on Tuesday, after the central bank maintained the key policy rate in a 12-year-high level. This was done in order to maintain a restrictive policy until the core inflation rate is brought under control.
Public Service Enterprise Group exceeds Q3 profit expectations on the back of higher sales
Public Service Enterprise Group surpassed Wall Street expectations for the third quarter profit on Monday as the electric utility and gas utility benefitted from higher retail sales and growth in distribution margins.U.S. Electric firms are…
Reeves, UK's Reeves, announces that fuel duty will not increase
In her first budget address on Wednesday, British Finance Minister Rachel Reeves announced that the temporary five-pence reduction in fuel duty will remain in effect. She said it would be unfair to increase it in a period of global uncertainty and high living costs.
Gazprom subsidiary claims $880 million against Linde
Court documents revealed on Wednesday that a subsidiary of Russia’s gas giant Gazprom filed a claim against Linde, claiming 879 million dollars. The Amur Gas Processing Plant, a subsidiary of Gazprom, filed the complaint on October 29 at the Arbitration Court in Amur Region in Russia's East.
KKR will take 25% of Eni's biofuel unit valued at $13 billion.
The U.S. Fund KKR has bought a 25% stake of Enilive's biofuels business, owned by the Italian energy company Eni. This deal values Enilive at 12.7 billion dollars ($11.75 billion), including debt. Eni said that KKR’s 2,94 billion euro acquisition…
