China and India Weigh Responses to Metal Import Tariffs
Monday, March 24,2025,20:00
Via Metal Miner The world now waits to see how two aluminum market leaders, China and India, will react to U.S. President Donald Trump’s imposition of 25% tariffs on metal imports. Between them, these two nations produce about 50 million metric tons (MT) of aluminum yearly. However, China significantly outpaces India, alone producing about 43 MT per year. It is also worth noting that both countries also consume a vast percentage of the aluminum they make. Nevertheless, the tariffs have the potential to dramatically reshape the current… .. read more..
Iran Oil Tankers Evading Sanctions with False Iraqi Paperwork
Monday, March 24,2025,19:30
Iranian oil tankers seized by U.S. forces in the Gulf were using forged Iraqi documents, Iraq's oil minister Hayan Abdel-Ghani has reported. "We received some verbal inquiries about oil tankers being detained in the Gulf by U.S. naval forces carrying Iraqi shipping manifests," the oil minister said on state television late on Sunday. "It turned out that these tankers were Iranian ... and were using forged Iraqi documents. We explained this to the relevant authorities with complete transparency and they also confirmed this." The Trump administration… .. read more..
Trump extends Chevron’s Venezuela licence after imposing tariffs on country's...
Monday, March 24,2025,19:08
US president wields 25% duty in escalation of feud with South American country .. read more..
AI's Potential and Pitfalls in Society Today
Monday, March 24,2025,19:00
The general narrative in the media regarding artificial intelligence (AI) is binary. AI is either the greatest human invention ever, so powerful it will catapult us into an age of abundance for all and solve our environmental problems as well OR it is the most momentous human invention ever which is so dangerous that it could wipe out human civilization (and therefore must be tightly controlled or abandoned altogether). The trouble with binary narratives is that they fail to incorporate hundreds or even thousands of pieces of information that lead… .. read more..
Trump says countries that purchase oil from Venezuela will pay 25% tariff on ...
Monday, March 24,2025,18:58
The president is piling economic pressure on Venezuela, which he accuses of sending gang members to the U.S. .. read more..
Indian Refineries Slashing Spot Tenders as Russian Oil Flows Back
Monday, March 24,2025,18:30
Indian refiners will issue fewer tenders for the purchase of crude oil on the spot market in the coming month as Russian supplies bounce back, Reuters has reported. Previously, Bharat Petroleum CFO revealed that middlemen who supply Russian oil stopped offering cargoes following U.S. sanctions imposed by the Biden administration targeted Russian producers, tankers and insurers. The sanctions targeted Surgutneftgas and Gazprom Neft, two Russian oil firms that handle 25% of Russian oil exports. The two companies shipped an average of 970,000 bbls… .. read more..
Ofgem Joins Investigation of Heathrow Power Incident
Monday, March 24,2025,18:00
Energy secretary Ed Miliband has ordered the National Energy System Operator to “urgently investigate” the power outage caused by a substation fire that shut Heathrow Airport on Friday. He is working with Ofgem and using powers under the Energy Act to formally launch the grid operator’s investigation. “We are determined to properly understand what happened and what lessons need to be learned,” Miliband said. “That is why, working with Ofgem, I have today commissioned the National Energy System Operator to carry… .. read more..
Trump: 25% Tariff On Anyone Who Buys Venezuelan Oil & Gas
Monday, March 24,2025,17:10
U.S. President Donald Trump has announced that any country that buys oil or gas from Venezuela will pay a 25% secondary tariff on trades with the United States, Reuters reported on Monday, with Trump claiming that Venezuela has sent "tens of thousands" of people to the U.S. who have a "very violent nature. Earlier this month, Chevron Corp. (NYSE:CVX) received a 30-day notice from the Trump administration to wrap up its operations in Venezuela. The deadline, set for April 3, provides the company only 30 days instead of the normal six-month wind-down… .. read more..
U.S. and Russia Continue Saudi Arabia Talks for Ukraine Cease-Fire
Monday, March 24,2025,17:00
US and Russian officials are holding talks in Saudi Arabia aimed at reaching a cease-fire deal in Ukraine. The negotiations on March 24 came a day after separate talks between the US and Ukraine which Kyiv called "productive." The US-Russia talks are expected to discuss details of a pause in long-range attacks by both Russia and Ukraine against energy facilities and civilian infrastructure as well as a halt on attacks in the Black Sea. The US team is reportedly being led by Andrew Peek, a senior director at the White House National Security Council,… .. read more..
Trump plans 25% tariffs on buyers of Venezuela oil
Monday, March 24,2025,16:57
US president wields duties in escalation of feud with South American country .. read more..
Indonesia’s $20-Billion Energy Transition Deal Will Survive Without the U.S.
Monday, March 24,2025,16:30
Indonesia is plowing ahead with its $20-billion international partnership to aid its energy transition despite the U.S. exit from international climate deals and commitments to support the clean energy goals of developing countries. At the end of 2022, Indonesia, the world’s top coal exporter and heavily reliant on coal for power generation, signed an agreement to launch a Just Energy Transition Partnership (JETP) co-led by the U.S. and Japan and including Canada, Denmark, the European Union, France, Germany, Italy, Norway, and… .. read more..
Iraq Faces Gas Shortage While Seeking New Oil Export Markets
Monday, March 24,2025,16:00
Iraq is grappling with a natural gas shortage while simultaneously exploring new crude oil export markets. In recent weeks, Iraq has made headlines not only due to pressure from OPEC but also because of its struggle to secure natural gas imports. Iraqi Oil Minister Hayyan Abdul Ghani stated on Iraqi television that negotiations are ongoing with several companies to secure two floating storage regasification units (FSRUs) by early June. These are needed to address a natural gas supply deficit caused by the expiration of a U.S. waiver that previously… .. read more..
Kremlin Claims Russia Is Not Targeting Energy Infrastructure in Ukraine
Monday, March 24,2025,15:30
Russian President Vladimir Putin hasn’t changed his order not to strike energy infrastructure in Ukraine despite reports of Ukrainian hits on Russian energy assets, Kremlin spokesman Dmitry Peskov said on Monday. “So far, there have been no other orders from the president,” Peskov told Russian reporters who asked him if Russia intended to keep its moratorium on energy infrastructure strikes or not. “Our armed forces are following all instructions of the supreme commander-in-chief, but of course we are monitoring the situation… .. read more..
Bank of America says this under-the-radar baby boomer and energy tech play ha...
Monday, March 24,2025,15:17
The bank initiated coverage of Generac on Monday with a $182 stock price target, implying potential 12-month upside of nearly 40%. .. read more..
British Oil Sector Hinges on Shell's Future
Monday, March 24,2025,15:00
Last year, British multinational oil & gas giant, Shell Plc (NYSE:SHEL) threatened to delist from the London Stock Exchange (LSE) and list on the New York Stock Exchange (NYSE). Shell CEO Wael Sawan told Bloomberg that the company is grossly undervalued in London due to shareholder apathy to the oil and gas sector. Sawan also expressed deep frustration by investors' under-appreciation of the financial performance of the company, as well as the British government’s over-taxation of its profits. Sawan vowed to “look at all options”,… .. read more..
Global trade policy increasingly ‘power based’: UN official
Monday, March 24,2025,14:36
Fragmentation of energy trading on the rise as tariffs and policy governing trade relations leading to more volatility and less predictable playing field .. read more..
U.S.-German Startup Plans to Build Fusion Plant in Germany
Monday, March 24,2025,14:30
Focused Energy, a U.S.-German start-up pursuing laser-driven fusion power, has signed a non-binding agreement with the largest German electric utility RWE and the state of Hessen to build a fusion research and development facility in Germany, Focused Energy’s CEO Scott Mercer told Reuters on Monday. Focused Energy plans to have the facility erected by 2035 at the site of the former Biblis nuclear power plant, which was operated by RWE. The former nuclear power plant in the German state of Hessen was commissioned in 1974 and ended operations… .. read more..
US sanctions Chinese energy facilities for Iranian crude imports
Monday, March 24,2025,14:17
US stepping up measures against Iran as part of President Donald Trump's 'maximum pressure' campaign .. read more..
Rosebank oilfield set for UK green light
Monday, March 24,2025,14:04
Scottish judge ruled in January that development was unlawful on emissions grounds .. read more..
Analysts Expect Shell to Focus on LNG and Oil in Strategy Update
Monday, March 24,2025,14:00
Shell is holding its Capital Markets Day on Tuesday in New York—and analysts expect Chief Executive Officer Wael Sawan to reaffirm the UK-based supermajor’s new focus on oil and gas. Shell was one of the first European majors to pivot back to oil and gas in a 2023 strategy to continue investing in oil and gas production and selectively pour capital into renewable energy solutions. Shell’s Sawan has said that reducing global oil and gas production would be “dangerous and irresponsible” as the world still needs… .. read more..
Mining giant Fortescue says Big Oil is getting it wrong on renewables: 'Your ...
Monday, March 24,2025,13:57
Australian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says Big Oil is getting it wrong on renewables. .. read more..
Heathrow Airport had enough power to avoid shutdown after fire, Britain’s Nat...
Monday, March 24,2025,13:38
London’s Heathrow Airport closed on Friday after a fire at a nearby electrical substation, resulting in hundreds of flight cancellations. .. read more..
YPF seals $75 million deal for Vaca Muerta shale development
Monday, March 24,2025,13:32
State-owned company to partner with CGC to produce from Aguada del Chanar block in Argentina .. read more..
Elliott Wants More Buybacks From Germany’s RWE After Buying 5% Stake
Monday, March 24,2025,13:30
Elliott is demanding higher shareholder returns from another major European energy company—the activist investor wants more share repurchases from RWE after disclosing on Monday that it now holds nearly 5% of Germany’s top utility. Elliott has gained prominence in recent months by campaigning for increased returns for investors at several energy companies, including UK’s BP and U.S. refiner Phillips 66. Elliott Management is pushing for changes at BP after amassing close to 5% in the UK-based oil and gas supermajor. Elliott Management… .. read more..
EU considers relaxing gas storage rules amid price fears
Monday, March 24,2025,13:18
European Commission published proposals earlier this month to extend gas storage regulations through 2027 .. read more..
Oil's share of total global energy demand drops to below 30% — IEA
Monday, March 24,2025,12:53
50 years after peaking at 46% of total energy demand, oil's share fell below 30% for the first time ever in 2024, the IEA said .. read more..
Rosebank oilfield gets green light from UK government
Monday, March 24,2025,12:50
Scottish judge ruled in January that development was unlawful on emissions grounds .. read more..
Saudi Arabia Awards $2.6-Billion Natural Gas Power Plant Deal
Monday, March 24,2025,12:30
Saudi Arabia has awarded a $2.6-billion contract to a Spanish-Egyptian joint venture to build a large-scale 3 gigawatts (GW) combined cycle gas-fired power plant in the Eastern Province of the Kingdom, the Egyptian contractor said on Monday. Egypt-based and NASDAQ-listed Orascom Construction announced that its 50-50 joint venture with Spanish energy infrastructure firm Técnicas Reunidas signed an Engineering, Procurement and Construction (EPC) contract to build the Qurayyah IPP Expansion Project. Orascom Construction and Técnicas… .. read more..
South American oil player sets sights on foreign wind assets
Monday, March 24,2025,12:21
EDP Renewables had already given up the ghost on more than 500 MW of wind capacity in Colombia when the delayed permit turned out to be problematic .. read more..
Falkland Islands' first offshore oil project set for 'more ambitious' phase
Monday, March 24,2025,11:20
Rockhopper shares climb almost 14% on Monday after company update accelerates later phases of the Sea Lion development programme .. read more..
Oil inches up as markets weigh sanctions on Iran, Russia-Ukraine ceasefire talks
Monday, March 24,2025,11:00
Oil prices inched up on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against ceasefire talks aimed at ending the Russia-Ukraine war, which could lead to an increase in Russian supplies to global markets. Brent crude futures gained 4 cents at $72.2 a barrel by 0735 GMT. U.S. West Texas ... .. read more..
Diesel disconnect highlights market angst, not market reality: Bousso
Monday, March 24,2025,11:00
Diesel prices in the Atlantic basin have become increasingly disconnected from tightening supply and demand conditions, reflecting deepening concerns over the outlook for global economic activity. But when facts on the ground don’t match prices, something has to give. The market for diesel, a refined fuel used in manufacturing, construction and heavy transport, is often ... .. read more..
India’s economic surge to drive global energy demand, but with low-carbon twist
Monday, March 24,2025,11:00
India is set to become a major player in the global energy markets with a unique growth path, featuring lower energy intensity, a diverse energy mix and increased commodity imports, Wood Mackenzie’s latest Horizons report reveals. The report, ‘Eye on the tiger: How higher Indian economic growth could impact global energy markets’, highlights that, unlike ... .. read more..
Europe’s gas prices may get fresh dunk from spring shoulder: Maguire
Monday, March 24,2025,11:00
After scaling two-year highs in early February, Europe’s benchmark gas prices have been on a down-slope that may now steepen as the traditionally weakest period for gas-fired power demand approaches. The early-year strength in gas prices was driven largely by winter heating demand and below-normal wind power generation that forced utilities to balance system needs ... .. read more..
Global Energy Demand Rises as Power Consumption Jumps
Monday, March 24,2025,11:00
Surging power demand in both developed and emerging economies accelerated global energy demand growth in 2024 to nearly twice the pace of recent years, the International Energy Agency (IEA) said on Monday. Record-high temperatures, higher demand from industry and for electrification, and AI and data centers contributed to a 4.3% rise in global power consumption last year, the IEA said in its annual report Global Energy Review 2025. The rise in power demand last year was nearly double the annual average over the past decade. As a result, the world’s… .. read more..
Pantheon nears completion of bond issue to bankroll Alaska project
Monday, March 24,2025,10:56
Pantheon Resources reports narrowing half-year loss ahead of critical flow testing of its promising well onshore Alaska .. read more..
Masdar 'targeting stake' in TotalEnergies renewables assets
Monday, March 24,2025,10:26
Emirati renewables giant has bucked trend of what has been deemed a 'seller's market' for wind and solar assets as it targets building 100 GW portfolio by 2030 .. read more..
Oil Prices Start the Week With a Dip
Monday, March 24,2025,09:45
Crude oil prices started trade with a slide this week, as traders await news about the possibility of an end to the war in the Ukraine, which would likely boost the international supply of Russian crude. At the time of writing, Brent crude was trading at $71.92 per barrel, with West Texas Intermediate changing hands for $68.06 per barrel, after booking two consecutive weekly gains, fueled by U.S. sanctions on Iran’s energy industry and OPEC+ efforts to bring production into the quota limits. “Expectations of progress in peace negotiations… .. read more..
India’s spot oil needs wane as Russia flows are set to rebound
Monday, March 24,2025,09:22
Indian refiners are expected to reduce spot crude tenders as Russian oil supplies return to normal levels. State-owned and private refiners have secured multiple discounted Russian shipments for April, easing supply concerns despite earlier disruptions caused by US sanctions. .. read more..
Iraq Plans Gas Import Terminals Amid Tighter U.S. Sanctions on Iran
Monday, March 24,2025,08:50
Iraq is negotiating the procurement of two floating regasification terminals as it seeks to replace gas supply from Iran with alternatives amid a renewed U.S. sanction push against Tehran. Bloomberg reports that the government in Baghdad was seeking to cover up to 50% of domestic gas demand during peak times, with the rest coming from local gas production. The regasification terminals will be installed at the port of Basra, according to oil minister Hayyan Abdul Ghani. Iran is the main source of import gas for Iraq—and import electricity… .. read more..
Leading shipyard secures deal for life extension and refurbishment of key Wes...
Monday, March 24,2025,08:37
Set to commence in May 2025, the eight-month expedited project on the FPSO vessel will involve extensive structural enhancements, including 1,000 tonnes of steel renewal, 250,000 square meters of tank coating, and 11,500 meters of new piping .. read more..
Targets clarified on Falkland Islands' first offshore oil project
Monday, March 24,2025,08:20
FID for $1.4 billion Sea Lion project is targeted for mid-year 2025 .. read more..
Wood extends deadline for Sidara deal talks
Monday, March 24,2025,08:00
United Arab Emirates investor Sidara will have to make a firm offer announcement by 17 April .. read more..
Sinopec Books Lower Profit for 2024 on Oil Price Slide
Monday, March 24,2025,07:46
China’s state oil major Sinopec reported a net profit of almost $7 billion for 2024, which represented a 16.8% decline on the year, attributed to lower oil prices and electric cars. “In 2024, international crude oil prices fluctuated downward, the domestic transportation industry accelerated the replacement of new energy ... (and) gross profit margin was significantly narrowed,” SInpec said in a filing with the Hong Kong Stock Exchange. “The company made every effort to expand the market and sales ... (and) continues to… .. read more..
India's L&T elevates energy chief Subramanian Sarma as group deputy managing ...
Monday, March 24,2025,05:20
The contracting heavyweight has expanded tremendously in the Middle East since Sarma took the helm in 2015 and L&T is currently working across multiple projects in Saudi Arabia, UAE, Qatar and other Gulf countries .. read more..
China's oil companies pay price for herd mentality in overseas push
Monday, March 24,2025,03:24
Spurred by past government calls to invest overseas, Chinese oil companies at times overpaid for assets that have underperformed or face geopolitical risks, and are now being sold en masse at knockdown prices .. read more..
Four contracting heavyweights in battle for expansion of strategic Saudi Aram...
Monday, March 24,2025,02:15
The state-owned behemoth is targeting capital investments of between $52 billion and $58 billion this year, as it continues to progress its growth strategy and its plans to significantly boost gas production by 2030 .. read more..
ExxonMobil offloads oil and gas assets in Thailand
Monday, March 24,2025,02:06
Buyers are a consortium of Horizon Oil and Matahio Energy .. read more..
Four contracting heavyweights in battle for expansion of strategic Saudi Aram...
Monday, March 24,2025,01:45
The state-owned behemoth is targeting capital investments of between $52 billion and $58 billion this year, as it continues to progress its growth strategy and on its plans to sizeably boost the country’s gas production by 2030 .. read more..
Private investor buys interest in planned Australian offshore gas project
Monday, March 24,2025,01:30
Ofer Global's oil and gas division agrees to acquire interests in new Australian offshore gas project .. read more..