EU Awaits Clarity From Washington on Trump’s 50% Tariff Threat
The European Commission sought clarity from the U.S. after U.S. President Donald Trump recommended on May 23 putting a 50% tariff on EU goods from June 1.
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Saudi Aramco Seeks Investors in Jafurah Infrastructure Assets, Sources Say
(Reuters) – Saudi oil giant Aramco is seeking investors in infrastructure, including pipelines, for its $100 billion Jafurah gas project, two people familiar with the matter told Reuters. The Jafurah project is key to Saudi Aramco’s ambitions to become a major global player in natural gas and to boost its gas production capacity by 60% …
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Victory for Energy Freedom: the House (Finally) Limits IRA Subsidies
Last week, Republicans were planning to keep the vast majority of the trillion-dollar IRA subsidies, including grid-destroying solar/wind subsidies. Fortunately, a few energy freedom fighters saved us By Alex Epstein Last week, Republicans were planning to keep the vast majority of the trillion-dollar IRA subsidies, including grid-destroying solar/wind subsidies. (I sounded the alarm here.) Fortunately, the …
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Carbon Removal Pioneer Climeworks Tackles Its First Major Layoff
By Akshat Rathi and Sommer Saadi “We are coming out of a phase of extreme growth,” co-founder Jan Wurzbacher said on the Zero podcast, as the startup focuses on cost cutting amid unfavorable market conditions. Scientists are clear that meeting climate goals means ending carbon pollution and drawing down excess CO2 from the air. That’s …
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EU Eyes Nord Stream 2 Sanctions to Stamp Out Russian Gas Return
By Ewa Krukowska, Alberto Nardelli, and Anna Shiryaevskaya A gas receiving compressor station for the Nord Stream 2 pipeline in Lubmin, Germany. Photographer: Krisztian Bocsi/Bloomberg The European Union is nearing a decision to include the Nord Stream 2 gas pipelines linking Germany and Russia in a fresh proposal of sanctions against Moscow amid persistent rumors …
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Northvolt to Stop Production in June With No Buyers in Sight
While production is set to stop by the end of next month, efforts to identify a purchaser for the plant remain ongoing Northvolt AB will stop making cells at its last remaining factory in northern Sweden at the end of June, marking the demise of what was once Europe’s best hope of a homegrown battery …
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Shell Expects More LNG exporters to Turn into Net Importers, Drive Demand
Energy major Shell expects several traditional LNG exporter nations to turn into net importers, driving demand for the super chilled fuel and potentially easing concerns that the industry faces oversupply from a raft of planned new projects. Cederic Cremers, Shell’s executive vice president for LNG, told Reuters that Indonesia, Malaysia, and Algeria are likely to …
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US Agency Says Geothermal Energy in Nevada’s Great Basin Could Play Larger role
A geothermal power plant is seen in the distance through geological mudpots atop the San Andreas Fault in Calipatria, California (Reuters) – Geothermal energy in the Great Basin of Nevada and adjoining states could produce electricity equivalent to 10% of the current U.S. power supply, the U.S. Geological Survey said on Thursday. The projected 10% …
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US Invites Asian Officials to Alaska, Eyes $44 Billion LNG Project
Summary Energy, Interior secretaries to host June 2 event in Alaska Officials from Taiwan, South Korea, Japan invited Trump pushing allies to invest in long-delayed project (Reuters) – The U.S. has invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, two people familiar with the planning …
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Oil Heads for First Weekly Loss Since April on OPEC+ Supply Hike Expectations
Summary Brent, WTI down 2% on the week Market braces for another OPEC+ output hike in July Iranian nuclear deal talks in focus, fifth round on Friday (Reuters) – Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by rising expectations …
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