GKN's cancellation of plans for a magnet factory is a setback to Europe's goal for rare earths
GKN Powder Metallurgy scrapped plans to manufacture rare earth permanent'magnets' in Europe. Three sources familiar with the matter confirmed this, highlighting Europe’s struggle to create a domestic rare Earths?industry that can compete with China, the dominant producer. China controls 90% of the rare earth output processed and 70% of the mining production. Europe is being criticized for falling behind the U.S.
US provides historic $26.5 billion loan to Southern Co subsidiaries
The?U.S. The Energy Department announced on Wednesday that it has provided a loan of $26.54 billion to'subsidiaries' of Southern Co in order to improve grid reliability. This is the largest loan ever offered by its loan office. According to the Energy Department, this financing will allow power customers in Georgia & Alabama to save more than $7 billion. Southern announced last year that it would freeze power bill increases for three years.
The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may hit a snag soon as U.S. power grids struggle to keep up with hyperscalers who spend a lot of money. Microsoft, Amazon Alphabet, and Meta are among the technology giants in America that have announced in recent months plans to spend over $600 billion in AI by 2026. Investors are already unsure about the viability of this strategy due to the investment wave. The ambitious U.S.
Trump's tariff reversal may reduce costs for US energy companies, but it will likely not affect broader flows.
Although the U.S. Supreme Court’s decision to overturn trade tariffs that President Donald Trump imposed last year could ease costs for certain?oil drillers and producers, analysts and experts said that energy flows in general would?remain unchanged for now. The ruling of the court could lower the cost to build LNG plants and large-scale infrastructures that depend on modules and parts made in countries affected by tariffs.
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.
Ormat signs geothermal power agreement with NV Energy for Google to supply 150 MW
Ormat Technologies, a renewable energy company, announced on Tuesday that it had entered into a long-term agreement to purchase geothermal power from NV?Energy in order to support Google's?operations?in?Nevada. Ormat will be able to create a number of geothermal projects in Nevada between 2028-2030 with the agreement for 150 megawatts. Ormat stated that the agreement offers utilities and large users like Google a way to invest in clean…
What's in the EU's proposed 'Made in Europe' law draft?
Next week, the European Commission will introduce a new law requiring a minimum percentage of products to be "made in Europe" when using public money to support 'key strategic technologies. Why do it? Why do it? Prioritizing European-made products in public contracts will allow the EU to leverage the financial power of public procurement, which is more than 2 trillion euro ($2.37 trillion), or 14% of EU output. What will the law do?
Politico reports that Trump has slammed the energy deal between California, Britain and Trump
Reports from Politico indicate that President Donald Trump denounced the clean energy agreement signed between California Governor Gavin Newsom and the United Kingdom on Monday. In an interview, Trump stated that it was "inappropriate for Britain" to deal with the Democratic Governor. Trump, who is Republican, called Newsom, "a loser", saying that "his state had gone to hell and his environmental work was a disaster." Newsom…
EU considers a revamp of the industry's free allowances in Carbon Market Reform
As part of a redesign of its carbon market, the European Union may overhaul its system of free "CO2 permits" for industries. Brussels is redesigning its Emissions Trading System (ETS), the EU's most important policy on climate change, which requires power plants and industry to purchase CO2 permits when polluting. Brussels, according to a presentation made by the European Commission internally…
Maguire: China tightens its grip on clean tech with growing exports of EVs.
China's position as the world leader in clean technology is best illustrated by its EV exports. These will reach nearly $70 billion dollars in 2025, and span over 150 countries. Electric vehicles are a major part of China's manufacturing industry, and millions of people work in the various supply chains that support?clean cars? and their components. Over half of new cars in China are EVs.
Maguire: China tightens its grip on clean tech with EV export growth.
China's position as a global leader in clean technology is best illustrated by its massive EV exports. These will reach nearly $70 billion dollars in 2025, and span well?over 150 different countries and territories. Electric vehicles are a major part of China's manufacturing industry, and millions of people work in the various supply chains that support clean cars. Over half of new cars in China are EVs.
Chinese solar stocks surge after Tesla visit
Chinese solar shares rose in early trading on Wednesday, after local media reported that Tesla staff had visited various companies in the sector. This was just days after Elon Musk announced plans to build large-scale production of solar cells in the U.S. By lunchtime, the CSI SH-HK-SZ 'Solar Power 50 Index had risen 5.6% and the CSI All Share Solar Power Equipments Sub-Industry Index had risen 6.8%.
Glencore is in talks with a US-backed consortium to sell a 40% stake in DRC mining to Glencore
Glencore has been in discussions to sell a 40 percent stake in its copper-and-cobalt operations in the Democratic Republic of Congo. The assets are valued at $9 billion, including debt. The Orion Critical Mineral Consortium, led by Orion Resource Partners, a private equity fund, and the U.S. International Development Finance Corporation are seeking a combined stake of 40% in Glencore’s Mutanda Mining (KCC) and Kamoto Copper Company projects.
Count down to CMA Shipping 2026
The count down is on for this year’s CMA Shipping 2026 conference and exhibition taking place from 10–12 March 2026 at the Hilton Stamford Hotel in Stamford, Connecticut. Organised by the Connecticut Maritime Association (CMA) and Informa Markets, this flagship event is set to bring together the most influential voices in the maritime industry for three days of industry networking, knowledge sharing…
Michigan suedes oil companies for collusion to restrain competition in EVs
Michigan Attorney General Dana Nessel filed an antitrust suit against four major oil firms on Friday, alleging that they have colluded over decades to prevent competition from renewable energy sources, including?electric cars. The lawsuit filed in U.S. District Court, western Michigan, names BP and Chevron. It also names ExxonMobil, Shell, and the American Petroleum Institute. The lawsuit said that the companies had acted as a "cartel…
SLB tops quarterly profit estimate, plans $4 billion shareholder returns
SLB beat Wall Street expectations for the fourth-quarter profits on Friday as the world's largest?oilfield service provider benefited from ChampionX acquisition and announced?plans? to return $4 billion in profit to shareholders this year. The company acquired ChampionX for $7.75 billion in all-stocks last July. This acquisition added production chemicals and artificial lifting technologies to the company's portfolio.
Sources say that the Italian government is poised to support a new mandate for Eni CEO
Three sources said that Italy's prime minister Giorgia Meoni was ready to support Eni CEO Claudio Descalzi in a bid to secure a 'new three-year term' at the energy company. This would allow the executive to continue 'his reign' as the longest-serving leader of the company. Descalzi is 70 years old and has been Eni's chief executive officer since 2014. He began his career as an expert in upstream exploration with extensive knowledge of Africa.
Trump Administration says that there are ways to increase Venezuelan oil production quickly
Trump's administration dismissed Tuesday analysts' estimates that it will?take years? to increase Venezuela's crude oil production. They said there are ways to boost the country?s oil sector quickly. The Trump administration is aiming to increase crude production from Venezuela, the South American country that has the largest oil reserves in the world. This comes after U.S. troops seized Venezuelan leader Nicolas Maduro during a raid against its capital Caracas, on Saturday.
Octopus energy reports loss for the year as investments weigh
Octopus Energy, a British company, reported a pre-tax loss for the year ending Tuesday. This was due to spending heavy amounts to expand its business, including the Kraken technology platform, which it intends to spin off. The UK's biggest energy supplier is investing heavily in services such as heat pumps, solar panels, and electric vehicles. It has also strengthened its plans to spin-off its AI driven?unit, Kraken Technologies.
Orlen, Grupa WB Collaborate to Improve Maritime Infrastructure Security
State-controlled Polish refiner Orlen and private defence technology company Grupa WB have agreed to work together to improve the security of critical infrastructure, Orlen said on Tuesday.The Baltic Sea region is on high alert following power cable, telecom link and gas pipeline outages since Russia invaded Ukraine in 2022.Under an agreement the two companies signed, they will cooperate to ensure energy security by protecting maritime infrastructure and to counter criminal a