AI's hunger for energy fuels geothermal startup but rivalry over natgas clouds the future
The number of geothermal energy startups is on the rise, as Big Tech companies look to power their AI data centers with natural gas. However, long-term investment remains uncertain because oil majors are doubling down on natural gases. Meta and Alphabet’s Google are two of the tech companies that have partnered with startups to create geothermal energy to power their data centres. The energy demands of artificial intelligence are being met by large datacenter operators…
Where will Trump's trade with China lead commodities in 2025? Russell
In 2025, Donald Trump's return as U.S. president and China's stagnant economy will influence global commodity markets. The only certainty is that there will be volatility, and many factors acting in opposite directions. In 2025, it will be harder to predict the prices of major commodities, such as crude oil and liquefied gas, ore like iron ore, coal, and metals, such as copper. Consider, for example, Trump's signature promise during his campaign: tariffs.
Sweden's North frets about financial risks as the green boom stumbles
Sweden's local governments, frightened by Northvolt's struggle for survival and its potential impact on taxpayers, have asked the central government to increase financial support for Sweden's transition towards green industry. Last month, Europe's leading electric vehicle battery manufacturer filed for Chapter 11 bankruptcy in the United States with $5.8 billion of debts. The EU's energy transformation is failing…
Biden Administration releases LNG export study and urges caution on new permits
Tuesday, the administration of U.S. president Joe Biden released the long-awaited report on the economic impacts and environmental effects of exports of liquefied gas. The results highlighted the need to be cautious when issuing new permits. Biden had in January halted the Department of Energy’s approvals of U.S. exports of LNG to large consumers in Asia and Europe, so that his government could conduct the review. This triggered complaints from the oil industry.
Biden's DoE LNG Export Study Tepid on New Permits
The administration of U.S. President Joe Biden released a long-awaited study on the economic and environmental impacts of liquefied natural gas exports on Tuesday, saying the results underscored the need for a cautious approach to new permits.Biden in January had paused the Department of Energy's approvals of U.S. LNG exports to big consumers in Asia and Europe so that his administration could conduct the review…
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, said that Saudi mining companies Ma'aden and Aramco will be collaborating with Lithium Infinity to lead the extraction project.
Climate tech firms receive $80 million for removing carbon from paper mills and sewage plants
SAN FRANCISCO, Dec. 17 - Google H&M Stripe, and other members of the Climate-focused Frontier Coalition will purchase $80 million in carbon credits from a company that uses oil industry technology to collect emissions at paper mills and another firm that uses rocks to do the exact same thing at sewage treatment plants. While the U.S. president-elect Donald Trump will likely withdraw from an agreement to limit global warming and reduce support for carbon sequestration…
Shell's former US offshore wind leader Orsted replaces Shell's executive
Amanda Dasch, Shell's director of renewables for the Americas, will join Danish offshore wind company Orsted as its head of U.S. operations in January. Shell has announced that it will stop investing in new offshore wind farms as CEO Wael Sawan concentrates on higher-margin operations. Dasch has spent the majority of her career in Shell's upstream oil and natural gas division. She has…
Iberdrola Gets Portugese Nod for Wind Farm Start
Iberdrola has received a production license from the Portuguese Directorate-General for Energy and Geology of Portugal (DGEG), taking another step towards the construction of the largest wind farm in Portugal.Located in the districts of Vila Real and Braga, in northern Portugal, with a total investment of around €350 million, this project reinforces Iberdrola's commitment to environmental goals, being the first to combine wind and hydro energy.
EDF will extend the operational life of four British nuclear reactors
EDF said it would extend the lives of four British nuclear power plants and invest 1,34 billion pounds in the British fleet between 2025 and 2027. This will boost the energy security of the country and its efforts to achieve its climate goals. Britain's goal is to decarbonise the electricity sector by 2030, and reduce its dependence on fossil fuel power plants that currently provide around one third of Britain's power.
A survey shows that big steelmakers are not switching to renewable energy sources.
A survey of 18 major firms revealed that the world's largest steelmakers are falling further behind in their shift to low-carbon production. Some still rely on fossil fuels as their primary source of energy. The steel industry is responsible for around 7% of the global CO2 emissions. This is about the same as India. Coal-fired blasting furnaces produce 2 tons of CO2 per ton of output.
ENTEK wins $1.3 billion US Loan for EV Battery Plant
The U.S. Department of Energy's loans office said on Friday it has finalized a loan of $1.3 billion to ENTEK Lithium Separators to finance a plant in Indiana for making lithium-ion battery separators used mostly in electric vehicles.WHY IT'S IMPORTANTThe Loan Programs Office is racing to finalize billions of dollars in loans to companies developing cutting-edge technologies expected…
COP29: Climate agenda clashes with trade demands
At the COP29 Climate Summit, trade tensions are escalating. According to U.N. documents, and negotiators, China, Brazil, and a number of other developing countries have complained that perceived barriers, like the European Union’s carbon border levy will undermine climate efforts. Nearly 200 nations are fighting over the climate talks about a deal that would provide hundreds of millions of dollars per year to help poorer states cope with climate changes.
French and Benelux stocks - Factors to watch in November
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The Delen family and Belgian holding company extended their historic shareholder agreements by 25 years. French cybersecurity company CD&R said that Permira and CD&R had received all the regulatory clearances needed for the proposed acquisition of the majority stake in the firm.
IMF and World Bank leaders promise to work with Trump at UN climate summit
The World Bank and International Monetary Fund chiefs said on Tuesday that they would continue to work with Donald Trump's incoming administration in the United States to provide funding to countries affected by climate change. Kristalina Georgeieva, IMF's chief, told a panel at the U.N. COP29 Climate Summit in Azerbaijan the global lender worked with Trump under his previous administration and was looking forward to working with him again.
The US climate envoy said that work would continue despite Trump’s return
John Podesta, U.S. Climate Envoy, urged governments on Monday to believe in the promise of the United States to combat global climate change. He said Donald Trump could slow down, but not stop the transition away from fossil fuels, when he returns to the White House in January. The annual U.N. Climate Summit began Monday in Baku in Azerbaijan. Many country delegations were concerned that Trump's win in the U.S.
Vattenfall invests 5 billion euros in Germany’s clean energy market
Vattenfall, a Swedish energy company, wants to invest in Germany five billion euros ($5.34billion) in climate-friendly products over the next few years. Robert Zurawski, German Finance Chief, said that the company plans to use the money to build wind and solar farms in the country as well as charging stations by 2028. He said that Germany is the fastest growing market in Europe for renewable energy.
Japan and Peru agree to cooperate in mineral mining technologies - Nikkei
Nikkei, a Japanese business daily, reported on Saturday that the leaders of Japan will sign a statement on cooperation on mineral mining technology later this month. The aim is to strengthen their supply chains by using Japanese technology. Nikkei reports that Japanese Prime Minister Shigeru shiba will hold a bilateral with Peruvian leader Jose Luis Guajardo during his visit to Peru to attend the Asia-Pacific Economic Cooperation Leaders' Summit (APEC).
Vitol: China remains the main driver of global oil demand despite energy transformation
The global head of Vitol’s research department said that China will continue to play a major role in the global oil market because it is focused on petrochemicals, even though fuel consumption for road transport in China peaks during energy transition. The No. The world's No. There is no doubt about it, this will be the driving force for oil demand in China as well as globally. This is because there is less decarbonisation in that area.
AEP considers additional asset sales to fund capital expenditure plan boost
American Electric Power executives announced on Wednesday that they are considering asset sales in order to fund their five-year capital expenditure plan of $54 billion, a 25% increase from the previous plan. AEP also considers cutting layers of management as well as various equity strategies in order to reduce costs and raise funds to fund its build out plan, which includes $10 Billion in transmission construction for new power demands from data centers and large customers.
