As the Ukraine gas transit agreement nears its expiry, the Russian president meets with Slovak Prime Minister
Pavel Zarubin, a Russian TV presenter, said that Russian President Vladimir Putin and Slovak Premier Robert Fico met in the Kremlin Sunday. The meeting took place as a contract for Russian gas transiting through Ukraine is nearing its expiration date. Fico criticised the Ukrainian president…
SOCAR sources: Russia and Ukraine cannot agree on gas deal mediated by Azerbaijan
Azeri SOCAR, a leading energy company in Azerbaijan, said on Friday that Moscow and Kyiv failed to reach an agreement on the deal brokered by Azerbaijan for Russian gas to be exported to Europe via Ukraine. Azerbaijan was asked by the European Union and Ukraine to facilitate talks with Russia regarding a gas-transit deal due to expire this year.
The copper giant Peru predicts another plateau in production by 2025
According to analysts and the top mining association in Peru, copper production will remain flat for the third consecutive year in 2025, due to declining ore grades. The South American nation is a global powerhouse in the copper industry, ranking third behind Chile and the Democratic Republic of the Congo.
The copper giant Peru predicts another plateau in production by 2025
According to analysts and the top mining association in Peru, copper production will remain flat for the third consecutive year in 2025, due to declining ore grades. The South American nation is a global powerhouse in the copper industry, ranking third behind Chile and the Democratic Republic of the Congo.
BP and Iraq agree on technical terms for redeveloping Kirkuk oilfields
The British oil giant BP announced on Thursday that it had reached an agreement with the Iraqi Government on the technical conditions for redeveloping the Kirkuk Oil and Gas Fields. In August, the company signed an agreement to explore and develop the Kirkuk oilfield located in the north of Iraq.
Sinopec predicts China's oil consumption will peak in 2027
Sinopec (China Petrochemical Corp.) expects China’s petroleum consumption will peak in 2027, at no more that 800 million metric tonnes or 16 million barrels a day. The state energy group released an outlook on Thursday. The forecast is more precise than the one made by the giant refining…
Vice Minister says Saudi Arabia has extracted lithium in oilfield runoffs
Saudi Arabia has successfully recovered lithium from samples of brine from the oilfields of national giant Aramco and plans to launch soon a commercial pilot program for direct extraction, said the Saudi vice-minister for mining affairs on Tuesday. Khalid al-Mudaifer, CEO of King Abdullah University for Science and Technology's Lihytech start-up…
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. TotalEnergies French oil giant Total Energies has sold half of its shares in the UK's West Burton Energy Gas Power Plant to Epuki. Vallourec French steel tube maker Vallourec…
Data shows that Tengiz oilfield's output in December was 20% lower than planned.
Estimates based on data from the Kazakh energy ministry and analysis service SAC TEK show that output from Kazakhstan's largest oil field Tengiz operated by U.S. giant Chevron was 20% below its planned plan in December. This helped Kazakhstan meet its OPEC+ production target. Tengiz had…
Kansai electric, a Japanese company, has invested in Iberdrola’s offshore wind project worth 1.3 billion euros.
The company announced on Friday that Japan's Kansai electric power Co had agreed to purchase a 49 percent stake in Iberdrola’s Windanker offshore project in Germany. This agreement expands a partnership between the Spanish renewable energy giant and the Japanese firm. The wind farm, located…
Moldova declares a state of emergency when the risk of Russian gas being cut off looms
The Moldovan parliament voted on Friday morning to declare a state of national emergency lasting 60 days, starting Dec. 16, due to the expected interruption of Russian gas supply on Jan. After Prime Minister Dorin Recean's request for approval, 56 members of the 101-seat chamber approved the measure just after midnight.
BP's offshore Wind Head to Step Down
A spokesperson for BP announced on Monday that Matthias Bausenwein, the head of offshore winds, is leaving the firm. This comes after the oil giant announced its intention to spin off its offshore operations into a JERA-JERA joint venture. Bausenwein, who joined BP in August 2022 from the Danish renewables giant Orsted…
Freeport Indonesia expects to see production at the Manyar smelter ramp up in Q3 of next year
An official revealed on Wednesday that Freeport Indonesia, a copper miner in Indonesia, expects its $3.7 billion Manyar Smelter in East Java will ramp up operations in the third quarter next year following a fire that halted it in October. Katri Krisnati, its spokesperson, said that based…
Chile plans to invest $83 billion in mining by 2033, a newspaper reports
In a study quoted in a newspaper article on Tuesday, the state-run Cochilco agency said that Chile will invest $83,18 billion between this year and 2033. This is a 27% increase from last year's estimation. The Cochilco Report, set to be released on Wednesday, will include 51 projects within the South American country…
Total closing in on 2 bln euro deal for renewables developer VSB, Bloomberg reports
Bloomberg News reported that TotalEnergies, a French oil giant, is on the verge of acquiring renewable developer VSB Group. The deal will cost about 2 billion euro ($2,10 billion). TotalEnergies has declined to comment. VSB Group, Partners Group and TotalEnergies did not respond to comments immediately.
Cargill, a giant in the commodities trading industry, plans to reduce around 8,000 positions
Cargill, a global trading company, announced on Tuesday that it will cut 5% or 8,000 jobs from its workforce. Revenues in the most recent fiscal period were down due to low crop prices. Cargill, a privately-held agricultural merchant, is under pressure because the prices of commodity crops, like wheat, corn, and soybeans, are at near four-year lows.
Exxon continues to discuss shallow-water blocks in Guyana's auction, the company reports
Exxon Mobil, the U.S. oil giant and its partners continue to negotiate with Guyana’s government about terms for developing an oil block in shallow water. An Exxon spokesperson confirmed this on Monday. Exxon Hess, CNOOC and Exxon won the offshore block S8 during a bid round that was launched by President Irfaan Ali’s administration in late 2022.
QatarEnergy signs LNG long-term deal with Shell to deliver LNG to China
State-owned QatarEnergy signed a long-term agreement with Shell, the oil and gas giant, to supply LNG to China. QatarEnergy said in a Monday statement that the deal will see the LNG supply increase to three million tons per year. The agreement is expected to begin in January 2025. QatarEnergy…
Petrobras bids for ships for Sergipe Deepwater Project
Petrobras, the state-owned oil company of Brazil, has announced a bid to purchase up to two offshore production vessels as part of its Sergipe deepwater project SEAP. The announcement was made in a late Friday securities filing. The floating production, storage, and offloading units (FPSOs) will be contract on a build…
Moldova and Russia hold talks about Transdniestria Gas Supply amid Ukraine Transit Uncertainty
Moldova reported that the energy minister of Moldova met with the head Russian gas giant Gazprom to discuss alternative routes for supplying Russian gas to Transdniestria, Moldova's breakaway region. If transit through Ukraine is stopped, Moldova will look at other options. Ukraine has stated that it will not prolong the gas transit agreement.
