Europe looks to Nordic Space Race to reduce US dependence
Two small spaceports located in the far north of Sweden, Norway and Finland are rushing to launch the very first satellites launched from Europe. The region is looking to reduce its dependence on U.S. companies. The "America First" policies of U.S. president Donald Trump and the conflict in Ukraine has prompted Europe's independent capabilities to be boosted in many areas, including defence operations and space operations. Europe is scrambling to find alternative solutions amid fears that Elon Musk, Trump's former ally, could restrict Ukraine's ability to access SpaceX's Starlink satellites which are crucial for the country's communication.
Denmark warns EU not to stop green transition
The climate minister of Denmark said that European nations must not stop the green transition on the continent. His country is preparing to lead EU negotations over a new climate goal amid backlash from governments worried about its costs. Next week, the European Commission will propose a new climate target for 2040 that will reduce EU emissions by 90 percent compared to 1990 levels. However, countries such as Poland and France are concerned that this goal is too ambitious. Lars Aagaard is the energy and climate minister of Denmark. He said that in an interview…
Thermal Coal May Offer An Affordable Solution As LNG Prices Rise
Thermal coal may end up as a major beneficiary of escalating hostilities in the Middle East, as the fuel used to generate electricity becomes cheaper than one of its main competitors liquefied natural gas (LNG).Much of the focus of the potential fallout from the conflict between Israel, and now the United States, and Iran is the threat to crude oil and refined fuels shipped through the Strait of Hormuz.But all of Qatar's LNG also goes through the narrow waterway separating the gulfs of Persia and Oman, and this amounts to almost 20% of the global seaborne supply of the super-chilled fuel.While there has yet to be any disruption of Qatar's LNG…
Israel resumes limited gas exports despite ongoing conflict; Egypt still waiting
Israel resumed exports of natural gas from its surplus, according to the Energy Ministry on Thursday. This comes nearly a full week after Israel and Iran engaged in an aerial battle. According to a source in the energy ministry, most of the gas exported is flowing into Jordan and "tiny quantities" have reached Egypt only this week. Egyptian fertilizer producers who had to stop operations because of the disruption in gas supply have said they still haven't received any gas, but are expecting it to return next week. The Egyptian Petroleum Ministry didn't immediately respond to an inquiry for comment.
Fico: Slovakia can't support new EU sanctions on Russia without energy solutions
Robert Fico, Slovakia's Prime Minister, said that the country will not support the EU's 18th sanctions package against Russia until the European Commission offers a solution for the problems the country would face if the bloc were to phase out Russian energy according to plan. The Commission proposed a new set of sanctions on Tuesday against Russia, for its invasion of Ukraine over three years ago. These targeted Moscow's banks, energy revenues and military industry. Fico called the EU executive's plans, announced last month by the EU executive, to phase out Russian energy and gas imports over the next few years "economic suicide".
Japan's Gas Industry Allows Gas with Carbon Capture in 2050 Net Zero Plan
The Japan Gas Association announced on Tuesday that it will take a more flexible stance in its efforts to become carbon neutral in 2050. This includes allowing a greater use of gas, in conjunction with carbon capture and other decarbonisation methods. The industry group stated that it aimed to supply 50-90% by 2050 of its gas from biogas or e-methane, with 10-50% coming from natural gas and carbon capture. The group, including city gas suppliers had originally set an initial target of 90% e-methane produced from green hydrogen, CO2, and 5% biogas by 2050.
Experts say that Australia's investment in natural gas threatens its climate credentials
Experts and two Pacific Climate Ministers say that Australia's approval for a 40-year project extension has undermined its bid to be the host of a United Nations Climate Summit next year, and its green credentials. The centre-left government that came to power in 2022, with a mandate to reform climate policy, has approved Woodside Energy’s North West Shelf Project to continue until 2070. This is subject to a review. The company and energy industry hailed the move, citing the continued operation of LNG plants as an alternative fuel to coal. Climate scientists and ministers of Tuvalu and Vanuatu have criticised the project…
Freepoint Commodities sued by ex-analyst for alleged pressure to facilitate insider trade
Former senior analyst of U.S. trading firm Freepoint Commodities, a former senior analyst has filed a lawsuit against the company. He claims that top executives pressed employees to facilitate insider trades and that they retaliated on employees who objected. Former employee Andrew Martin filed a lawsuit in New York Federal Court on May 14, claiming that Freepoint terminated Martin in November for failing to flag unethical conduct on the oil team of the company during an FBI inspection in December. The Stamford-based Connecticut company denied the allegations, and stated that Martin was dismissed for performance-related factors.
Ukraine Approves Gas Import Via Transbalkan Pipeline To Avoid High Transit Fees
Ukraine's energy regulator has approved a gas import mechanism that will avoid high transit fees when supplying gas through the Transbalkan pipeline from Greece to Ukraine, the Ukrainian energy ministry said on Tuesday.Ukraine has faced a serious gas shortage since a series of devastating Russian missile strikes this year, which significantly reduced domestic gas production.Ukraine now imports gas via Slovakia and Hungary, but does not use the southern route because of its higher transit tariffs, as gas from LNG terminals in Greece also passes through Bulgaria, Romania and Moldova."The Transbalkan route has significant potential to meet Ukraine's immediate needs ...
Italy's business lobby asks for state assistance over energy costs and US tariffs
The main Italian business lobby Confindustria demanded on Tuesday billions of euro in state aids to help companies cope with rising energy costs and the threat of U.S. tariffs. Emanuele orsini, the chairman of Confindustria in Bologna (northern Italy), said that the European Union must also allow its member states to increase spending on investments to stimulate them without violating the fiscal rules. Orsini stated that "we need to act immediately" to reduce energy costs. He said that the funding for this aid package could be derived from a restructured post-COVID recovery program in Italy, which is EU-backed, as well as EU regional development funds.
Vopak is confident that it can advance Australia LNG import terminal following state overhaul of laws
After laws passed to alleviate supply shortages, Dutch tank storage company Vopak stated on Wednesday that it is confident of advancing the proposed liquefied gas import terminal (LNG) in Victoria, Australia’s largest gas-consuming State. The Victorian Energy Terminal proposed by Vopak in Port Phillip Bay, is one of four across southeast states that could meet the domestic gas demand. Regulators warn there may be shortages starting as early as 2027. Environmental concerns and regulatory obstacles have slowed down the progress of these projects.
Germany: Europeans should pressurize Russia with sanctions
German Chancellor Friedrich Merz announced late Monday that European leaders had agreed to increase the pressure on Russia via sanctions after U.S. president Donald Trump briefed on his conversation with Russian President Vladimir Putin. On Monday, the European Union leaders, France, Italy and Germany, as well as the Ukrainian President Volodymyr Zelenskiy, met with Russian President Vladimir Putin and Ukraine's Volodymyr Zalenskiy in an effort to bring about a solution. In Ukraine, the end is near. Trump announced after the phone call that Russia will begin ceasefire talks in the three-year conflict.
The major Gulf markets are mixed in their earnings with a focus on US-China discussions
The major Gulf stock markets were mixed early on Thursday, as investors awaited this weekend's U.S. China trade negotiations. Donald Trump, the U.S. president, suggested on Wednesday that China initiated trade talks. He added that he would not be willing to reduce U.S. tariffs against Chinese goods in order to convince Beijing to negotiate. Bessent stated that the talks are just a beginning and not advanced discussions. Saudi Arabia's benchmark stock index dropped 0.3% due to a decline of 1.6% in Saudi Arabian Mining Company. ACWA Power Company fell 1.1%.
ADM warns that 2025 profits will be lower than forecast due to tariffs
Grain trader Archer-Daniels-Midland on Tuesday posted its lowest first-quarter profit in five years and said it expects annual adjusted earnings at the low end of its prior forecast range due to macroeconomic uncertainty and trade tariff headwinds. ADM's largest division, ag services and oil seeds, saw its operating profit plummet by over half due to weak crop-processing margins. This was more than offset by flat or stronger results across its other business segments. ADM shares rose in pre-market trade as results exceeded Wall Street expectations. ADM's profit has been dwindling in recent quarters as a result of abundant global crop supplies, and thinned margins.
Kremlin: Oil price is important for Russia but the national interest comes first
Dmitry Peskov, Kremlin spokesperson, said that oil prices are crucial to the Russian budget and economy. However, Russian national interests come first, he added. Peskov commented on remarks made by U.S. president Donald Trump who suggested that Vladimir Putin may be more inclined than usual to resolve the conflict with Ukraine due to the recent drop of oil prices. Peskov stated that Russia was working with OPEC+ in order to maintain prices at a level optimal. "It is still relevant and, as you may know, Russia has been working for a very long time in the OPEC+ format to keep prices at an ideal level.
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. Derichebourg Derichebourg established a partnership with LG Energy Solution to create a joint venture for battery recycling in the Northern region of Paris. On Monday evening, power began to return to some parts of the Iberian Peninsula after a massive outage that brought Spain and Portugal to an abrupt halt. The outage grounded planes, stopped public transport and forced hospitals to suspend their routine operations. Imerys Imerys reported a net profit group share of eur 23 millions in Q1, representing a 66% drop from the previous year.
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.
