Rio Tinto explores low-carbon aluminum project with Indian company
Rio Tinto announced on Thursday that it had signed a Memorandum of Understanding (MOU) in India with AMG Metals & Materials. The MOU is to evaluate the viability and feasibility of a low carbon aluminium project for the South Asian nation. The global miner stated that the potential development could lead to up to 2 million tonnes of alumina and 1 million tonnes of primary aluminium production per year, powered by wind and solar energy, and supported by pumped-hydro storage. It added that the initial phase of the plan would include studying the feasibility of a primary aluminium smelter capable of producing 500…
Follow This, a group of climate activist shareholders, pauses the big oil campaign
Follow This, a climate activist shareholder group, said that a lack in investor interest has forced them to suspend their campaign to get major oil and gas companies to commit to reducing emissions. The campaign had been going on for nearly ten years. In 2016, the Dutch group began submitting climate resolutions to shareholder meetings. By 2017, it had achieved shareholder support of 80% for Phillips 66 and 60% for Chevron. The surge in oil prices caused by the Russian invasion of Ukraine, and lower than expected returns on investments in renewables have led shareholders to focus their attention back on oil and natural gas.
Shell warns that Australia's gas reservations plan could worsen shortages
Shell warned Tuesday that Australia's proposal to force more gas from export onto the domestic market would end up discouraging investment and worsening shortages. Energy has become a major issue in the campaign ahead of Australia's general election on May 3. The conservative Liberal-National Coalition pledged to lower power bills and avoid a shortage on the East Coast through a reservation scheme. Shell Australia Chair Cecile wake said that export controls are not the best solution. She also questioned if they would have a material impact on consumer prices. This does not increase the supply, but simply redistributes what is already there.
Vucic: Serbia will lose access to oil imports when the deadline for sanctions looms.
Serbia may lose access to essential oil imports as of Friday, after discussions to stop the imposition by the United States of sanctions on its sole oil refinery failed. President Aleksandar Vucic stated this in an interview published. The waiver of sanctions expires at midnight. If it is not extended, NIS, which is owned by Russia's Gazprom and Gazprom in majority, may face a reduction in crude oil supply. NIS is the sole oil refinery in Serbia, with a capacity of 4.8 millions tons per year. This facility covers most of Serbia's energy requirements. Vucic, quoted in the Financial Times of Britain on Thursday, said he didn't expect a deal to be made at the last minute.
Can Trump's drive for critical minerals pass the test of copper? Andy Home
The executive order issued by U.S. president Donald Trump on increasing domestic mineral production is designed to cut through the mine permit maze in the United States. According to S&P Global, it takes on average nearly 29 years to bring a new mine from discovery to production. This is the second longest lead time in the entire world, after Zambia. The U.S. Government is uniquely qualified to address the problem of granting permits on federal land. The Joe Biden administration had a difficult time reconciling its desire to produce more "green metals" for the energy shift with its environmental and socio-political credentials. Trump is not averse to such criticism.
Commodities ignore Trump's noise and focus on fundamentals of trade: Russell
The best way to navigate the challenges that the U.S. president Donald Trump's inconsistent and erratic trade policies are posing for the global commodity markets is to ignore the noise and concentrate on the fundamentals. While the media focuses on every headline-grabbing announcement or social media post regarding new and retaliatory duties from the U.S. president and his administration the commodity markets continue to do what they have done in the past: adapting rapidly changing circumstances. It's important to distinguish between commodities that are already affected by Trump's policies and those that will be in the future.
Andy Home: Export ban on cobalt from Congo is not enough to eliminate the glut
The Democratic Republic of Congo has suspended cobalt exports for four months, a sign of how even the largest producer in the world is feeling the effects of historically low prices. This news has given cobalt a boost and its impact is already spreading through the supply chain. One Congolese operator Eurasian Resources Group, (ERG), declared force majeure for deliveries of the metal used in electric vehicle batteries. Will it be sufficient to solve the structural problems that a market oversupplied? History does not support this. The Congolese Government appears to have understood that a temporary export ban is not enough and that something more dramatic may be required.
Baker Hughes and Frontier Infrastructure form a carbon capture partnership
Baker Hughes announced on Monday a partnership between Frontier Infrastructure and the United States' largest carbon capture and storage solutions (CCS). Oilfield Services provider adds that it will provide technology solutions for carbon capture projects, power generation and datacenters. Baker Hughes announced that it will leverage key technologies in well design, carbon dioxide compressing and long-term monitoring for Frontier's Sweetwater Carbon Storage Hub to be located in Wyoming. The company said it would use gas turbines for 256 megawatts in order to meet the increasing demand of electricity across the U.S. Mountain West, Texas and Wyoming. Why is it important?
EUROPE GAS-Prices rise amid Ukraine concerns, strong demand
Dutch and British wholesale prices for gas rose Monday morning, as market demand and concerns about a possible peace agreement with Ukraine supported the market. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 2,19 euros, or 14,19/mmBtu at 46,50 euros per Megawatt Hour (MWh), by 0914 GMT. The Dutch May contract increased by 2.15 euros to 46.80 Euros/MWh. The day-ahead contract in the British market was up 3.80 pennies at 111.30 pence per therm. After a clash between U.S. president Donald Trump and Ukrainian president Volodymyr Zelenskiy during discussions at the White House last week…
US EPA delays Midwest ethanol expansion South Dakota, Ohio
The U.S. Environmental Protection Agency announced on Friday that it will delay by one year the expansion of sales of higher ethanol blended gasoline in South Dakota, Ohio and the other eight Midwestern States who requested increased sales. The EPA released a statement on Friday following its decision made last week that it would implement the April 28 date set by eight Midwest Governors who requested year-round sale of gasoline containing 15 percent ethanol (also known as E15). States could request a one-year extension until February 26, 2018.
Inpex CEO: Buyers' interest in Indonesia's Abadi Liquefied Natural Gas exceeds planned production
Inpex Corp., Japan's largest oil and gas exploration company, said it received interest in buying liquefied gas from its $20 billion Abadi project in Indonesia, which exceeds the planned output. Inpex expects the long-delayed LNG project to drive growth. It is aiming to make a final investment decision by 2027. He said that Inpex would proceed with the marketing and finance talks. Inpex holds a 65% share in the Abadi Project in eastern Indonesia. Shell will purchase Shell's remaining 35% in 2023. Abadi said that 90% of its long-term contracts for the Ichthys project in Australia were with Japanese buyers.
Oil trade group calls for national ethanol policy in the US after EPA approves Midwest expansion
The American Petroleum Institute, a trade group, pushed for a national policy on gasoline blends with higher ethanol levels on Monday after President Donald Trump’s administration announced on Friday that it would expand sales of this product in certain Midwestern States. The U.S. Environmental Protection Agency announced on February 21 that it would support an April 28th implementation date in response to a request by eight Midwest Governors for year-round sale of gasoline containing 15 percent ethanol (also known as E15). The EPA is taking action to allow E15 as well as the more readily available E10 blends of fuel to be sold in the summer months…
Constellation skips first earnings call since spinoff
Constellation Energy, the U.S.'s largest nuclear power company, missed its quarterly investor call for the first since it went public three years ago. Constellation didn't immediately respond to an inquiry for comment. Analysts were surprised by the lack of a phone call. Constellation, based in Maryland, held a conference call with its management last month. It announced that it was planning to acquire private natural gas and geothermal provider Calpine for $16.4 billion. This is one of the largest deals ever made by the U.S. energy industry.
Breakaway Moldovan Region claims it received gas supplies backed up by Russian loan
Separatist authorities announced on Friday that the pro-Russian Transdniestria region of Moldova, which is a breakaway region, has begun receiving gas under a Moscow loan. Transdniestrian leader Vadim Krsnoselsky stated in a Telegram statement that the Russian loan assistance as well as cooperation with Russia's Ministry of Energy made gas deliveries possible. The Russian gas flow to Transdniestria through Ukraine ceased at the beginning of January after Ukraine refused to renew a transit contract. Earlier this month, the Moldovan Prime minister Dorin Recean stated that his country will not block gas flows to the region.
Brazil resumes hydropower exports to Argentina and Uruguay with the aim of increasing flow
Industry officials have confirmed that Brazil is resuming energy exports from its hydroelectric plants to Argentina and Uruguay due to the excess water they have in their reservoirs as a result of heavy rains. The government also aims to improve the competitiveness of the sales. Brazil's exports were halted for nearly the entire 2024 year due to a disappointing rainy season in Brazil and a severe drought that affected the Amazon. Sales resumed in January after Brazil sent 12 megawatts (aMW) in average of hydropower to both countries, according to CCEE. The Brazilian government is also making adjustments to the way it transfers surplus hydropower to other countries.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a 2-year high of €58 per megawatt-hour (MWh). This has increased concerns over the higher energy costs European firms pay compared to their competitors in the U.S. or China.
Wärtsilä Unveils Next-Generation Engine to Enhance Power Plant Performance and Support Renewable Integration
Wärtsilä launched its next generation 46TS engine, which is designed to balance renewable energy, provide highly efficient baseload power, and can run on sustainable fuels in the future.The Wärtsilä 46TS large-bore engine evolved from a long line of engines, including the Wärtsilä 50 engine platform, an engine that has more than delivered 55 million running hours worldwide since 2008.Using balancing engines to support intermittent renewables is a more viable path towards a net zero power system than a renewables-only pathway. Balancing power can reduce costs…
China's tariff retaliation is aimed at its modest US energy imports
China is the largest energy importer in the world, but its purchases of US crude oil, LNG and coal are relatively modest. This reduces the impact of Beijing’s Tuesday move to impose retaliatory duties on the imports of U.S. natural gas, LNG, and crude oil. China's Finance Ministry announced that, on February 10, it will impose tariffs of up to 15% on the imports of U.S. crude oil, LNG, and coal, and 10% on some autos and farm equipment. Data from the U.S. Energy Information Administration revealed that Chinese imports of U.S. Crude Oil fell 52% in the first eleven months of 2024 compared to the same period a previous year. According to Chinese customs figures, U.S.
Venture Global LNG has almost completed repairs at Calcasieu Pass Power Plant -FERC
A federal inspection report released on Wednesday said that Venture Global LNG may be able to complete power generator repairs before the end of the month. This could pave the way for the completion of the nearly three-year long commissioning process of the Calcasieu Pass LNG Plant. Venture Global has become the most valuable U.S. gas company after its initial public offering, which took place on Thursday. It blamed equipment failures and unreliability in its power generators for its inability deliver cargoes to long-term clients from Calcasieu Pass.
Ukraine looks for investment in Davos to recover from the recession as Trump calls for peace
While U.S. president Donald Trump called for an end to the three-year war and Ukraine's President discussed peacekeeping forces, Ukrainian officials courted private investors to help rebuild their country this week. Oleksiy Sbolev is the first deputy minister of economy. He described a $500-billion reconstruction project that would bring both financial and strategic dividends to Western Investors, while Kyiv intensifies its privatisation plans in order to attract foreign investment. Sobolev, speaking on the sidelines the World Economic Forum annual meeting in New York City, described recent successes with smaller privatisations.
