Sugar producer Tereos' profits plummet as prices reach new lows
Tereos is one of the largest sugar producers in the world. The company reported a drop in profit for the first six months of its financial year 2025/26. This reflects the continued weakness of sugar markets, as prices have fallen to multi-year lows due to abundant supplies. The recurring operating profit for April to September fell 95%, to 16 millions euros. Revenue dropped 19%, to 2.62 billion euro ($3.02 billion), at current exchange rates.
China's first coal-to-chemicals project with green hydrogen begins commercial operations
According to a report by state-run CCTV, China's first project for coal-to chemicals that integrates green hydrogen began commercial operations on Friday. Cao Guoan, station manager at CCTV, said that the project, operated by state-owned energy producer Datang Group is expected to produce 70,59 million cubic meters of hydrogen per year. He didn't say how much coal the plant currently produces or if it will also produce other chemical derivatives.
India's top solar regulator blocks 3.2 GW of coal power plant, citing clean-energy push
A filing revealed that the power regulator in Rajasthan, India’s largest solar producer, refused to approve a 3,200 megawatt coal project. The regulator said it was against clean energy goals, and lacked justification based on demand forecasts. In an order published Thursday, the Rajasthan Electricity Regulatory Commission announced that it had rejected a petition filed by state-run Rajasthan Urja Vikas and IT Services Ltd to obtain coal power through bidding for a period of 25 years.
India's top solar regulator blocks 3.2 GW of coal power plant, citing clean-energy push
A filing revealed that the power regulator in Rajasthan, India’s largest solar producer, refused to approve a 3,200 megawatt coal project. The power regulator said it was against clean energy goals, and lacked justification based on demand forecasts. In an order published Thursday, the Rajasthan Electricity Regulatory Commission announced that it had rejected a petition filed by state-run Rajasthan Urja Vikas and IT Services Ltd to obtain coal power through bidding for a period of 25 years.
US Natural Gas Futures Ease 1% on Ample Gas in Storage
U.S. natural gas futures eased about 1% on Thursday on near-record output and ample amounts of gas in storage despite near-historic flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected.The price decline also came despite a federal storage report that showed energy firms pulled gas out of storage for the…
US Natural Gas Futures Climb 4% with LNG Flows, Cold December Forecast
U.S. natural gas futures climbed about 4% on Wednesday on near-record flows to liquefied natural gas export plants and forecasts for higher demand than previously expected as the weather turns colder than normal going into December.Front-month gas futures for December delivery on the New York Mercantile Exchange rose 17.9 cents, or 4.1%, to settle at $4.550 per million British thermal units (mmBtu).LSEG…
Sources say that Total and Chevron are leading the race to purchase Galp's Namibian oil discovery.
LISBON/PARIS/CAPE TOWN - Four sources have confirmed that TotalEnergies, Chevron and other oil majors are the frontrunners for a 40% stake in Galp Mopane's Namibian discovery. After a series of high-profile oil discoveries, oil companies are flocking to Namibia. The country has no hydrocarbons and could be a top-15 producer in the next decade. Mopane's estimated resources are at least 10 billion bbls. Galp hopes to announce the winner by year end.
Chile's Cochilco raises copper price forecasts for 2025 and 2026 to record highs
The state copper commission of Chile, Cochilco, increased its forecasts for copper prices in 2025 and 2026 on Wednesday to new highs amid weak production. Cochilco has raised its forecast for 2026 to $4.55 a pound from $4.30 a pound. Victor Garay is Cochilco’s mining market coordinator. He said that the forecasts were the highest estimates of copper prices ever made by the Copper Commission. The commission also believes the metal will continue to rise in price at least until 2030…
Shell UK sells its 50% stake in Tobermory Gas to UK-based Ithaca Energy
Ithaca Energy, a North Sea oil-and-gas producer, announced on Wednesday that it had agreed to purchase a 50% stake from Shell UK in the Tobermory Gas discovery located in the West of Shetland Basin off Scotland. Shell's Tobermory interest will be part of Adura. This joint venture between Equinor and Shell is expected to launch later this year. This partnership will be announced in December 2024 and combine Shell and Equinor’s UK offshore oil and natural gas assets.
INSIGHT- West scrambles fill the heavy rare earth gap, as China rivalry intensifies
Western efforts to create a domestic magnets supply chain in order to reduce their reliance on China, led by the massive U.S. support for Nevada-based MP Materials, are running into a major problem: a scarcity of heavy rare earth elements. United States and its allies are scrambling to find an alternative supply chain for super-strong rare earth magnetic components, which are essential in everything from electric vehicles and defence technology to electronics and windmills.
Malaysia's Sarawak Oil Palms focus on yield improvements amid land cap
Sarawak Oil Palms Berhad, a Malaysian palm oil manufacturer, is focused on maximising the yields of existing plantations. The state struggles with lower productivity than other regions in Malaysia. Sarawak's 1,62 million hectares of oil palm plantations (4 million acres), which account for 29% Malaysia's total palm acreage, produced only 21,6% of Malaysia's palm oil production, with yields falling behind the neighbouring Sabah Peninsular Malaysia.
Can West Virginia be green when Trump supports coal mining?
He is a member of Economic Development Greater East, an initiative that promotes projects in a region devastated by the decline in coal production. He said he was a fourth-generation coal miner who had moved from one mining job to another in the past. He met EDGE's founder Jason Tart when he returned to Berwind and with their support, he opened a chicken business. Startups and non-profits, like EDGE, have taken on projects aimed at clean energy and land reclamation.
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. The largest shareholder in Century is Glencore, a London-listed company.
Kazakh Energy Minister: Government not talking to Lukoil on buying local assets
Energy Minister Yerlan Akkenzhenov stated on Monday that the Kazakh government has not held talks with Russian oil giant Lukoil regarding buying its Kazakh assets. The Russian state media reported earlier that the KazMunayGas head, who is the state-owned oil company of Kazakhstan, had said the company was in discussions about Lukoil’s assets in Kazakhstan. The Russian oil group has stakes in Kazakhstan’s Karachaganak oilfields and Tengiz oilfields.
Energy Transition' Future: Fractured, Bumpy and Long
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago.The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest polluters.The landmark UN COP21 climate agreement signed in Paris on December 12, 2015 saw 195 nations commit to setting…
Palmettos end higher due to Indonesian output risks and a softer ringgit
Malaysian palm futures closed slightly higher for the third session in a row on Monday, thanks to a weaker ringgit as well as bullish predictions from industry analysts. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 6 ringgit or 0.14% to 4,151 Ringgit ($1,000.72). A Kuala Lumpur-based broker said that the contract has seen support after bullish presentations made at the Indonesia Palm Oil Conference held last week.
Palm extends its gains as it faces Indonesian output risks and a softer ringgit
Malaysian palm futures rose for the third consecutive session on Monday, thanks to a weaker ringgit as well as bullish predictions from industry analysts. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 13 ringgit or 0.31% to 4,158 Ringgit ($1,002.89) per metric ton. A Kuala Lumpur based trader stated that the contract has seen support after bullish presentations made at the Indonesia Palm Oil Conference held last week.
Wall St hedge funds reduced megacaps in the third quarter
According to the most recent quarterly disclosures, Wall Street's biggest hedge funds have reduced their exposure to certain Magnificent Seven companies, such as Nvidia and Alphabet, and placed new bets on sectors like application software, ecommerce, and payments. The following are some key positions changes made by the funds. Bridgewater Associates outperformed its peers in the first nine-month period of the year…
India permits 1.5 million tons of sugar exports due to higher domestic surplus
India has allowed 1.5 million metric tonnes of sugar to be exported in the new season. The government announced this in a Friday notification, as it is expected that a decrease in sugar being diverted for ethanol will result in a greater domestic surplus. Sugar futures in New York and London could be impacted by higher exports from the second largest sugar producer in the world. These futures are currently at five-year lows.
Russia's Lukoil talks to potential foreign buyers about its assets
Lukoil, Russia's second largest oil producer, said it was in talks on Friday with potential buyers for its foreign assets after sanctions were imposed by the UK and US last month and a deal made with Gunvor Trading House collapsed. The specific deal would be announced once the final agreements had been reached and all regulatory approvals obtained. The company wants to maintain the operation of assets even after they are sold and transferred to new owners.