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(Reuters) – The European Union is open to discussing purchases of energy and arms from the United States to ward off tariffs that President Donald Trump has threatened to impose on the bloc, EU’s top economy official said on Thursday. Trump has vowed to address a long-running deficit in goods trade with the EU, either …
EU Open to US Energy, Arm Sales Talks to Stave Off Tariffs Read More »
(Reuters) – President Vladimir Putin has grown increasingly concerned about distortions in Russia’s wartime economy, just as Donald Trump pushes for an end to the Ukraine conflict, five sources with knowledge of the situation told Reuters. Russia’s economy, driven by exports of oil, gas and minerals, grew robustly over the past two years despite multiple …
Putin Growing Concerned by Russia’s Economy, as Trump Mulls More Sanctions Read More »
(Reuters) – Saudi Arabia’s foreign minister said on Tuesday he did not see Donald Trump’s new administration increasing the risk of an Israel-Iran conflict, addressing an issue the region has feared since the start of Israel’s war in Gaza. Prince Faisal bin Farhan Al Saud also said in Davos that he hoped President Trump’s approach …
Saudi Foreign Minister Says Trump Does Not Raise Risk of Iran-Israel War Read More »
Summary • Will wait and see impact of sanctions on Russia tankers • Kingdom takes market balance into account when setting output • Looking to expand LNG position globally (Reuters) – Saudi oil giant Aramco’s Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million …
Aramco Chief Expects Additional Oil Demand of 1.3 Million Bpd This Year Read More »
Global energy storage capacity has tripled in recent years, thanks to an industry that barely existed a decade ago. Illustration: Jay Daniel Wright for Bloomberg Businessweek By David R Baker Inside an unmarked stucco building in a Silicon Valley office park, more than 1,000 black metal cabinets, each about the size of a fridge, line …
Giant Batteries Are Transforming the World’s Electrical Grids Read More »
(Reuters) – The International Monetary Fund has lowered its 2025 GDP growth projection for Saudi Arabia to 3.3%, mainly due to extended oil production cuts, it said on Friday in the latest update to its global outlook. It also trimmed its 2024 growth estimate for the Gulf state to 1.4%. In its October Regional Economic …
IMF Lowers 2025 Saudi Arabia Growth Forecast on Extended Oil Production Cuts Read More »
(Reuters) – The Kremlin said on Friday it does not expect the United States to soften its position on sanctions against Russian oil once President-elect Donald Trump takes office, despite his administration’s readiness for dialogue on the Ukraine war. Kremlin spokesman Dmitry Peskov was commenting on remarks by Trump’s choice for Treasury Secretary, Scott Bessent, …
Kremlin Says US Stance on Russian Oil Sanctions Unlikely to Change Read More »
BP to cut 4,700 staff this year Another 3,000 contractor positions to be cut CEO aims to cuts at least $2 bln in costs by 2026 (Reuters) – BP will cut over 5% of its global workforce, it said on Thursday, as part of CEO Murray Auchincloss’ efforts to reduce costs and rebuild investor confidence …
The latest IEA’s Monthly Oil Statistics report including October 2024 data shows that for Total OECD: Total OECD production of crude oil, NGL and refinery feedstocks increased by 2.1% in October 2024 compared to October 2023. Refinery gross output of total products increased by 1.4% on a year-on-year basis. Net deliveries of total products increased …
The latest IEA’s Monthly Gas Statistics report including October 2024 data shows that for Total OECD: Production of natural gas decreased by 1.0% compared to October 2023. Imports (entries)1 of natural gas remained stable (0.0%) compared to October 2023, and total OECD exports (exits)1 decreased by 0.7% in the same period. Gross consumption of natural …
