India's ethanol manufacturers feel the pinch
Singh claimed that despite contractual obligations, government oil companies did not purchase enough ethanol. This forced him to stop operations at his factory where he employs 600 workers. India's plan for reducing emissions and reducing oil imports is based on ethanol, a fuel produced from sugarcane or maize. State-run oil companies blend ethanol and petrol under the Ethanol Blending Programme of the Indian government. India achieved its goal of blending 20% of ethanol in petrol (known as E20 fuel) five years earlier than expected. However, the increase sparked a backlash among drivers who complained of decreased fuel efficiency and increased wear on engines.
Birol, IEA chief, says that the IEA is discussing future oil releases.
Fatih Birol, the Executive Director of the International Energy Agency, said that they are consulting with governments from Asia and Europe on how to release more oil "if needed" because of Iran's war. We will, of course do so if it's necessary. IEA members nations agreed to release a record number of 400 million barrels from their strategic oil stockpiles on March 11,?to counter the surge in global crude prices. The 20% drawdown was a result of the overall stockpiles. Birol stated that there would not be any specific level of crude oil price to trigger a new release. It is not a solution to the problem.
Oil Prices Rise As Iranian Attacks on UAE Continue
Oil prices rose more than 1% on Tuesday, as renewed Iranian attacks on the United Arab Emirates heightened concerns about the worsening outlook for global supply if there is no quick resolution to U.S.-Israeli war on Iran, now in its third week.Brent crude futures gained $1.33, or 1.3%, to $101.53 a barrel by 1515 GMT while U.S. West Texas Intermediate (WTI) crude advanced $1.21, or 1.3%, to $94.71.The U.S.-Israeli war on Iran shows no signs of abating. While oil futures have not repeated the brief surge to nearly $120 a barrel from earlier in the month…
EU scrambles for energy cost reductions as Iran war hits the markets
Energy ministers from the European Union will meet on Monday to discuss options for reducing 'energy costs. Officials are drafting emergency plans to temper the 'impact of surging gas and oil prices caused by war in Iran. According to EU officials who are familiar with the discussions, the European Commission is developing emergency measures to protect consumers from rising energy costs. They will also examine state subsidies for industries and tax cuts at national level, as well as a revision of EU carbon markets to reduce CO2 permits. Ursula von der Leyen, the Commission president, said that Brussels is also looking at capping gas costs.
Globally, governments are taking measures to mitigate the impact of Iran's war on energy prices for consumers
Fuel subsidies, price caps and emergency commodity releases are just some of the measures that governments from Asia to Europe have taken to protect consumers from rising fuel and food prices - a result of the U.S. and Israeli war against Iran. The conflict in the Middle East has caused a halt to a fifth of world oil and gas supplies. It has also forced the top energy producers Saudi Arabia, the United Arab Emirates Kuwait, Iraq, and Qatar to reduce their output. This is what the International Energy Agency has called the biggest disruption to global energy supply ever. Brent crude, the benchmark international contract, settled at $102,90 per barrel on Friday.
After failed pay negotiations, workers at Glencore Australia plan to strike
The Australian Workers' Union (AWU), which represents workers at Glencore's copper'refinery' in North Queensland, announced on Wednesday that they plan to 'go on strike' after nearly a year of 'failed' negotiations over pay and conditions. The union has said that workers at Townsville refinery will walk off their jobs on Friday if they do not get their concerns addressed at a Thursday bargaining session. The AWU said that Glencore has refused to give workers a wage increase "decent enough" to keep pace with the cost of living. Talks began between the London-listed company and the AWU in late March last year.
Japan's weakness on energy is brought to the forefront as Middle East crisis worsens, says REI chair
The chair of the Renewable Energy Institute stated that Japan must do more to reduce their reliance on fossil fuels after the Middle East conflict escalated and halted the tanker traffic through the Strait of Hormuz. This highlighted Japan's vulnerability to?geopolitical risk. Japan imports 95% of its crude oils and 11% of liquefied gas through the Strait. About 70% of the latter and 6% of the former are shipped via the Strait. The closure of the channel has caused sharp increases in fuel prices. This is particularly hard on energy-importing countries like Japan.
Brazil's Raizen reaches deal for out-of-court debt restructuring, O Globo reports
Local newspaper O Globo on Tuesday reported that Brazilian sugar and ethanol producer Raizen had reached an agreement?with bondholders and creditors?for a?debt restructuring?out of court. O Globo reported that the agreement would be announced on Tuesday evening, but did not cite a source. Raizen's debt is financed by creditors and bondholders, who represent about 40% of the total. It said that the deal doesn't affect suppliers. Raizen has declined to comment. The company said that it would be analyzing Shell's proposal for a capital injection…
IEA chief warns of return to Russian gas despite global LNG boom
Fatih Birol, the Executive Director of International Energy Agency (IEA), said that looking to Russia for gas supplies would be economically and politically wrong. This is because LNG will soon become a global source. Birol said to?reporters that the current Middle East crisis has led some to question whether or not to return to Russia. This was after a meeting between European Commission President Ursula von der Leyen and EU commissioners regarding global energy markets. The EU faces increasing pressure from governments and industries to intervene to reduce high energy prices.
EU urges green steel to be available in limited quantities as a fix for auto emissions
Buy expensive steel that is made using a new technology powered by green hydrogen, which barely exists? Under European Union plans, 'Europe's' automakers are facing this prospect, who are already under pressure due to the intensifying competition from 'China', as the bloc aims to boost its'steel' industry while still meeting environmental targets. The EU has changed its CO2 emission targets for new cars to 90% by 2035, from 100% earlier. This is a shift from the previous 100% target. EU WANT TO BOOST EUROPEAN STEAM SECTOR The new proposal is tied to the EU Industrial Accelerator Act, due to be introduced on March 4.
EU pushes for green steel, a scarce metal, to fix auto emissions
Buy expensive steel that is made using a "nascent" technology powered by green hydrogen, which barely exists? Under European Union plans, which aim to bolster the steel industry of the EU while still meeting?its environmental targets, this is what Europe's automakers face. They are already under pressure from a fiercer competition in China. The EU changed its CO2 emission targets for new cars in December to 90% by 2035, from 100%. This was a shift from the earlier 100% target. EU WANT TO BOOST EUROPEAN STAINLESS SECTOR The new proposal is tied to the EU Industrial Accelerator Act, due to be introduced on March 4.
Brazil's key sugar production between the center and south is forecast to reach 40.5 million metric tons in 2026/27
Hedgepoint Global Markets reported on Tuesday that sugar production in Brazil's center-south region is expected to reach 40.5 million metric tons in the new season 2026/27, the same as the previous one, despite a lower?amount being destined to?making sweetener. Hedgepoint stated that the sugarcane crop will grow from 610 to 630 millions tons. This means a stable sugar production. Sugar prices are nearing five-year lows in New York, which has led mills to divert sugarcane to ethanol production and less sugar. Hedgepoint expects global sugar surpluses to reach 3.4 million tonne in the next season (October-September), compared to the 2.8 million tonne in the previous cycle.
Kazakh Kashagan oil field operators file arbitration for $4.6 billion fine
Shell, TotalEnergies, Eni and other shareholders in Kazakhstan's Kashagan oilfield, have begun arbitration proceedings to challenge a $4.6 billion environmental fine for 2023, according to a Shell spokesperson. This is the latest in an ever-growing web of legal disputes involving the hydrocarbon industry in Kazakhstan. Kazakhstan's government fined NCOC, a consortium of gas processing companies in Kashagan, 2.3 trillion Tenge ($5.4 billion) for environmental violations. This was a result of an inspection conducted the previous year. The authorities had claimed to have found excessive amounts of poisonous sulphur.
Cubans use solar power to fight blackouts as US tightens its grip on oil
Cubans scramble to install solar panels in their homes, businesses and vehicles as Washington prevents oil from reaching the Caribbean’s largest island. This contributes to electricity generation shortfalls. U.S. sanctions, a deep recession and the economic crisis in Venezuela have made it difficult for the government to buy enough fuel. A recent 'drought' of shipments due to U.S. sanctions has also caused a?drought? in Mexico and Venezuela. Tariff threats have worsened the existing shortages. Cuban government has installed solar power of up to 1,000 megawatts in the last year with the help of Chinese funding and equipment donated.
Zeo Energy signs agreement to develop 280MW of power for Creekstone Data Center in Utah
Zeo Energy announced on Wednesday that it had'signed a Memorandum of Understanding' with privately-held Creekstone Energy for the development of 280 megawatts worth of power generation to be used in a data center currently under construction in Millard County. U.S. utilities, as well as independent power developers, are racing to meet the surging demand for electricity from data centres. These centers are growing rapidly to support workloads related artificial intelligence. The increasing data-center load has also pushed utilities to speed up grid upgrades. Tighter regional supply has increased wholesale power prices, and intensified the competition for generation projects.
EDF's costs are higher due to oversupply of electricity
EDF, the French nuclear operator, said that it would have to increase its maintenance costs by around 1.5 million euros to 3.75 millions euros per year because it has to reduce power in 'its nuclear reactors' to a'respond to an increased electricity supply and a slow demand. Around 70% of French power comes from nuclear energy, which accounts for about half of the state-owned EDF revenue. However, the recent addition of solar power has changed the way nuclear reactors are operated. EDF stated that the increase in renewable energy led to a "fundamental" change in the way it modulates its production.
Andy Home, Andy Home: The US and Canada are now working together to secure critical minerals.
The U.S. president Donald Trump just announced "Project Vault", an $12 billion stockpile of critical minerals intended to protect U.S. manufacturing companies from disruptions in supply. The U.S. will need help to fill the Vault with 60 minerals that are currently classified as "critical". The U.S. is reviving friend-shoring as it seeks to form a metal alliance with China to break its stranglehold on the metals at the heart of modern technology. The U.S. is more popular than ever. At the ministerial gathering on "critical minerals" in Washington, DC, held on February 4, 54 countries were present.
Andy Home, Andy Home: The US and Canada are now working together to secure critical minerals.
The U.S. president Donald Trump just announced "Project Vault", an $12 billion stockpile of critical minerals intended to protect U.S. manufacturing companies from disruptions in supply. The U.S. will need help to fill up the Vault's 60 critical minerals. The friend-shoring game is back and with a vengeance. As the U.S. tries to build a metal alliance to loosen China’s grip on the metals at the core of modern technology. The U.S. has more friends now than ever. At the February 4th ministerial conference on critical minerals, 54 countries were present. 11 new bilateral agreements?and? a trilateral agreement between the European Union and Japan have been signed.
Salzgitter takes over HKM Steel joint venture to end conflict with Thyssenkrupp
Germany's Salzgitter announced on Friday that it would buy out all the shareholders of the steel joint venture HKM, becoming the sole owner of the company by mid-2026. This could end a dispute between Thyssenkrupp and Salzgitter over the future of this ailing business. It could be the solution to end years of uncertainty for the struggling company, which employs 3,000'staff. This could also be a way to remove a barrier in Thyssenkrupp’s ongoing discussions to sell TKSE India’s Jindal Steel International. The agreement is an important milestone...it puts Thyssenkrupp on a level keel for the future, said TKSE CEO Marie Jaroni.
Germany's Uniper stresses diversification and downplays the increasing reliance on US Liquefied Natural Gas
DOHA, February 4 - The top executive of a German utility Uniper played down European concerns about the growing dependence on liquefied gas from?the United States while he emphasized the need for diversification in supply sources. The pursuit by President Donald Trump of "energy dominance", has increased European concerns over the heavy reliance on U.S. LNG. This has replaced volumes previously provided by Russia. Data from analytics firm Kpler revealed that U.S. imports of LNG by the European Union increased more than fourfold between 2021 and 2025 to reach nearly 60 million tonnes.