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European LNG Imports Up with Asian Influx
The world's imports of liquefied natural gas are set to jump to the highest in a year in January as Europe's winter demand draws cargoes away from top-consuming region Asia.A total of 38.12 million metric tons of the super-chilled fuel is on track to be imported in January, up from 37.69 million in December and the most since January 2024's 38.73 million, according to data compiled by commodity analysts Kpler.The January volume is also the third-highest on record, underscoring the strong growth in LNG imports as new supply comes online and as Europe seeks to replace pipeline natural gas from Russia.Europe's imports are expected by Kpler to rise to 11.82 million tons in January, up from 10.87 million in December and the highest since April 2023.The January volume for Europe is also on track to be the fourth-highest monthly total, eclipsed only by three months in 2022 and 2023 when the continent was scrabbling for gas after the shutdown of pipeline supplies from Russia in the wake of Moscow's invasion of Ukraine in February 2022.It's also worth noting that while Europe's LNG imports are likely to rise 8.7% in January from the month before, arrivals from Russia are expected to drop to 1.60 million tons, down 11.6% from December's 1.81 million.The outlook for Europe's LNG imports from Russia is increasingly uncertain, especially with the return of Donald Trump as U.S. president.Trump is unabashedly in favour of boosting U.S. energy exports, and LNG shipments to Europe offer one of the best opportunities to do so.If European countries agreed to phase out imports from Russia in favour of U.S. cargoes it would help meet several objectives.These include putting further pressure on Russian President Vladimir Putin to end the war in Ukraine, as well as giving Trump a "win" that may help ease the threat of new tariffs on Europe's exports to the United States.The United States is already the world's largest exporter of LNG, and the commissioning of new plants in 2025 will cement that position.But the global LNG market may move into surplus by the end of this year, making it in the interests of both Trump and U.S. LNG exporters to try and limit markets for Russian exports.Europe's imports of U.S. LNG are expected to rise to a record high of 6.70 million tons in January, up from 5.20 million in December and 11.7% above the previous peak of 6.0 million in January last year.In contrast, Asia's imports of U.S. LNG are expected to drop to 1.81 million tons in January, down from 2.2 million in December and the lowest since February 2024, according to Kpler.Asia's total LNG imports are also set for a decline in January, dropping to 24.48 million tons from a 10-month high of 25.50 million in December.The decline is largely due to a milder-than-usual winter, which has trimmed demand in China, Japan and South Korea, the world's top three importers.Relatively high spot prices have also cut demand, especially in China, with January arrivals slated to come in at 6.29 million tons, down from December's 7.58 million and almost 20% below the 7.83 million of January 2024.The spot price for LNG for delivery to North Asia LNG-AS ended last week at $14.00 per million British thermal units (mmBtu), up slightly from the $13.90 in the prior week.The price peaked last year at $15.10 in the week to Nov. 29, a period when January-arriving cargoes would have been secured.European natural gas prices have also remained elevated, with the TTF benchmark TRNLTTFMc1 ending at 47.90 euros per megawatt hour, which is equivalent to $14.73 mmBtu.This is a high enough price to draw U.S. LNG to Europe and away from Asia, especially when the shorter shipping times and costs are factored in.With Europe needing to replenish natural gas inventories and move away from Russian LNG, it's likely that it will have prices higher than those in Asia.This in turn may limit the usual seasonal decline in Asian spot prices in the shoulder season between the winter and summer demand peaks.(Reuters)
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Mexico's draft power law promotes public-private partnerships, but with a majority state stake
According to a draft bill that was seen on Tuesday, a legislative proposal in Mexico supported by the government would permit public-private energy generation projects. However, the state must hold a minimum of 54% of the project. The proposal, backed by President Claudia Sheinbaum and expected to be revealed by the leftist leader, is part of the legislation implementing an energy reform that was passed by lawmakers from the ruling party last year. The bill also requires that the state-owned electricity company, Comision Federal de Electricidad (CFE), supply at least 54% to the national grid. This is in line with Sheinbaum’s predecessor, the former president Andres Manual Lopez Obrador, who was of the same mind. Sheinbaum has promised to continue with Lopez Obrador’s policy preferences. This includes his call for greater state control of energy. Both leaders have argued that national sovereignty demands that the CFE be the main driver of the power sector, and they have described it better than profit-maximizing corporations to provide services to their population. (Reporting and editing by Brendan O'Boyle; Reporting by Adriana Barera)
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Boss Energy, Australia's largest energy company, has its best day in almost 3 years thanks to robust output growth
Boss Energy shares rose 16% Wednesday, and they were on track for their best day for nearly three years. The uranium mining company reported quarterly production that was well above analysts' expectations for its Honeymoon Project in South Australia. If current gains hold, the stock could have its biggest single-day gain since March 2022. The S&P/ASX 200 benchmark was up 0.5%. Analysts at Jefferies say that Honeymoon's ongoing production ramp-up helped it log uranium concentration (U308) of 215,319 lbs in the October-December quarter. This was almost twice as much as the previous quarter and beat the consensus estimate of 157,400 lbs. Honeymoon's production of 850,000 pounds U3O8 is expected to reach its target of 850,000 pounds in fiscal 2025. Boss Energy stock and other uranium shares rose sharply in the last week. This was a result of a $500 billion investment by the private sector to fund AI infrastructure, and U.S. president Donald Trump's plan for tariffs against Canada, a major uranium supplier. Boss Energy's Managing Director Duncan Craib stated in a Wednesday statement that "security of supply is a key concern for nuclear utilities in the west, and Boss will benefit from this growing and changing market." Honeymoon is expected to cost between A$37 and A$41 per pound U3O8 in the second half fiscal 2025. Analysts at Jefferies stated that the costs show an element of inflation which is not surprising and given industry trends. They said: "We expect these costs to drop slightly as production reaches a steady state over the course CY26." (Reporting by Aaditya Govind Rao in Bengaluru; Editing by Subhranshu Sahu)
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Officials and media claim that Ukraine drone attacks targeted Russian oil and power facilities
Officials and media outlets reported Wednesday that Ukraine launched drone attacks overnight against oil and power plants in western Russia. The debris from a drone that was destroyed caused a fire in an industrial facility located in Kstovo in Nizhny Novgorod. This governor said via the Telegram messaging application. Gleb Nikitine, the governor said, "According preliminary data, no casualties have been reported." He didn't disclose any further details. Baza, an official Russian Telegram channel that is closely associated with the Russian security services, reported on a burning oil refinery at Kstovo. Vasily Anokhin, the governor of Smolensk in western Russia, said that air defence systems had destroyed a drone which was attempting to strike a nuclear facility. He said that drone attacks were "massive" in some parts of the region. Anokhin posted on Telegram that "according to preliminary data, one of these drones was shot during an attack against a nuclear facility." "There were neither casualties nor damage." Regional governors reported that 26 more drones were shot down over the Bryansk region, which borders Ukraine to the south, and 20 drones in the Tver area, which borders the Moscow region on its southern border. No damage or injuries were reported, according to the regional governors. Rosaviatsia, the Russian aviation watchdog, announced on Telegram that it had halted all flights from the Kazan Airport to ensure safety. Kazan is the capital of Tatarstan and lies 830 km (516 mi) east of Moscow. It was not possible to determine the full extent of the attacks. The reports could not be independently verified and Ukraine has made no comment. Both sides deny that they have targeted civilians during their attacks. The war Russia began a full-scale war in February 2022. Kyiv claims that its attacks in Russia are aimed at destroying infrastructure vital to Moscow's military efforts.
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Whitehaven Coal's second-quarter production in Australia rises by 92.7% and beats estimates
Whitehaven Coal, Australia's largest coal producer, posted a 92.7% increase in production for the second quarter on Wednesday. This was largely due to strong contributions from its New South Wales mines as well as its newly acquired Queensland mines. The New South Wales operations of the miner, which includes Maules Creek and Narrabri, saw a 1.3% increase in their managed run-of mine (ROM) production. Whitehaven, who purchased the Blackwater and Daunia coal mines from BHP Group in December for $4.1 billion, produced a total of 4.6 millions metric tons of ROM coal for the three-month period ended December. This was however 14% less than the previous quarter due to expected weather disruptions. The Daunia Mine of the miner posted a strong volume of sales of 1.5 million tonnes in the December quarter. This was up 34% from the previous quarter due to the availability of coal, the strong demand, and the improved accessibility of rail paths along the Goonyella Line. The company made A$226 for every ton of coal it sold during the third quarter. This compares to an average realized price of A$216 a year ago. The top independent coal mining company in the country reported that its managed ROM production for the quarter ended December was 9,7 million tonnes, compared to 5 million tons produced one year ago. This is slightly higher than the Visible Alpha consensus estimation of 9.5 millions tons. Sherin Sunny, Bengaluru. Alan Barona, editing.
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Vale's iron ore production fell 4.6% in the fourth quarter
The company Vale reported that iron ore production fell by 4.6% in the fourth quarter of last year compared with the same period the year before. Vale, one of the largest iron ore producers in the world, reported a decline in production of 85.3 millions metric tons for the three-month period ended December. The company said the decrease was due to its decision of prioritizing the production of iron ore products with higher margins. The firm produced almost 328 millions tons of steel in 2024. This is a 2% increase from the year before. It is expected to produce 325-335 millions tons by 2025. Vale reported that iron ore sales dropped 10% from the previous year to 81.2 millions tons in the fourth quarter. It also said it had decided to reduce the sale of products with high silica in the quarter in order to increase the all-in premium. Vale's average realized iron ore price was $93 per ton during the quarter. This is down 21% from last year, but up close to 3% compared to the third quarter. Reporting by Andre Romani, Sao Paulo; Editing by Aida Pelaez-Fernandez
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Lucid, a maker of electric vehicles, names Taoufiq Bossaid CFO
Lucid Group announced on Tuesday that it had appointed Taoufiq Bossaid, a veteran finance professional, as its Chief Financial Officer. This comes more than a full year after Sherry House left the position. Lucid stated that Boussaid had been the group CFO at NV Bekaert SA, a steel and coatings company listed in Belgium. He was responsible for reducing the debt load between July 2019 and October 2024. Lucid is ramping up production to increase its customer base. Lucid said interim Chief Financial Officer Gagan Dhingra would continue in his role as Chief Accounting Officer and will be promoted to Senior Vice President, Finance and Accounting. When the new CFO takes over the position, on February 25, he will report to Boussaid. The EV manufacturer, backed Saudi Arabia's sovereign fund, will report its quarterly results on February 25. Boussaid's annual salary will be $575,000 while Dhingra gets a raise to $475,000. This was revealed in a U.S. filing. Ford Motor's Vice President of Finance, House, a former Alphabet executive who was Lucid CFO from 2021 to December 2023 will take on the CFO position in early 2019. Earlier this month Lucid beat estimates Quarterly vehicle deliveries are up thanks to lower prices, and financing deals that aim to drive demand. (Reporting and editing by Sriraj Kalluvila, Maju Samuel, and Akash Sriram from Bengaluru)
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Trump's executive orders on immigration, DEI and abortion
Since he took office on January 20, Donald Trump, the U.S. president, has taken a number of executive orders as well as other actions that have a rapid impact on Americans. The White House reported that the executive orders totaled over 300. They aim to fulfill the Republican campaign promises regarding illegal immigration, federal employment size, energy, environment, gender, diversity, and abortion policies. Orders The law has the force of law But it can be revoked or blocked by future presidents. Here are some early Trump policy moves. IMMIGRATION Trump declared a state of national emergency at the U.S. Mexico border, and issued a ban on asylum to migrants who "engaged in invasion across the southern borders." He told the Defense Department that it was a top priority to seal the borders and support the construction of border walls, detention spaces and transportation for migrants. He gave the Defense Secretary the authority to send troops along the border. The White House also announced the deployment of 1,500 more troops. Trump has ordered the suspension for refugee admissions to the U.S. This includes the nearly 1,660 Afghans who were cleared to settle in America. He reinstated his "Remain in Mexico policy", which forces non-Mexicans seeking asylum to wait in Mexico until their U.S. cases are resolved. He ordered the Attorney General to pursue capital punishment for immigrants who are not legally recognized and commit crimes like murder, which could be punishable by death. He signed an order ending birthright citizenship for children born in the U.S., if either their mother or father are not U.S. citizens or legal permanent residents. According to the U.S. Constitution, people born in America are entitled to citizenship. Democratic state attorneys and advocates filed lawsuits on the issue, and Ronald Reagan's Republican president appointed a judge to block the order. He called it "blatantly illegal." Trump has also started a process of designating criminal cartels to be foreign terrorist groups and to use a 1798 law called the Alien Enemies Act to target foreign gangs. ABORTION Restored U.S. Participation In two international antiabortion agreements, including one which cuts off U.S. funds to foreign organizations that provide or promote abortions. He reinstated Mexico City Policy which his opponents refer to as the "global gag rule" for the way it has silenced abortion advocates. It was established by Reagan in 1984 and has been repealed or rescinded each Democratic President since then. TRANSGENDER TROOPS AND COVID IN THE MILITARY Trump signed executive orders that were aimed at The military The reintroduction of thousands of troops expelled for refusing COVID-19 vaccinations during the pandemic; the removal diversity, equity, and inclusion requirements; and the targeting of transgender members. In one order, it was stated that expressing a transgender identity would violate military standards. However, the order did not specify whether or not current transgender military personnel would be allowed stay in service. Trump has rescinded a former Democratic president Joe Biden's order that allowed transgender individuals to serve in military. GRANTS and LOANS The White House of Donald Trump ordered the a All federal grants and loans will be halted This could affect education and healthcare, housing assistance and disaster relief, as well as a number of other initiatives that rely on billions of dollars from the federal government. The money will be held while the Trump Administration reviews the programs and ensures they align with the Republican President's priorities. Slashing the size of the federal workforce Trump has ordered federal employees to return to work full-time in the office and that agencies take action to stop remote working arrangements. He announced a hiring freeze for federal jobs, with the exception of military, immigration enforcement and national security, as well as public safety. He reinstated the Schedule F executive orders he issued during his first term. These would have stripped tens or thousands of federal workers of their employment protections, and made them more easily fired. GOVERNMENT DIVERSITY AND GENDER ISSUES Trump signed an executive order calling for the elimination government diversity programs. This includes all federal jobs and offices related to diversity and equity. All federal DEI offices were facing closure, so the Trump administration paid all staff in their offices a leave of absence. The order instructs the administration review which federal contractors provided DEI materials to government agencies, and revokes Equal Employment Opportunity order that was signed by President Lyndon B. Johnson in 1965. He signed an official order that "recognizes two sexes - male and female" in documents. The order said that "these sexes cannot be changed and are based on fundamental and undisputed reality." Trump ordered agencies to stop using pronouns based on gender identity or preferred pronouns. STEPS TOWARDS A TRAVEL BANN? Trump signed an executive order setting a 60-day period for State, Justice and Homeland Security officials to identify countries with screening and vetting processes "so inadequate as to warrant partial or complete suspension of admissions to nationals from these countries." U.S. civil right groups You can also read about the warnings below. The order lays down the foundation for a reinstatement of the ban on travel from countries with a majority of Muslims or Arabs. EXPANDING Energy Production Trump declared an energy emergency in order to increase energy production, eliminate regulations and to end rules that were aimed at accelerating the transition to electric cars. He signed an order promoting oil and natural gas development in Alaska. This reversed Biden's attempts to protect Arctic lands, U.S. coast waters, and offshore wind lease sales. It also lifted a ban on the export of liquid natural gas. PARIS CLIMATE PACT Trump ordered that the U.S. withdraw from the Paris Climate Agreement, putting the U.S. outside of the global pact intended to push nations to combat climate change. Trump had taken the same step in his first term. Biden then reversed that decision. Withdrawal from the World Health Organization Trump has ordered his administration begin the withdrawal process from the World Health Organization. He said the global health agency mishandled COVID-19 and other international health emergencies. JAN. 6 PARDONS Trump pardoned around 1,500 of his followers who attacked the U.S. Capitol in 2004. The vast majority of those convicted were involved in the riot. The pardoned individuals included the leaders of far-right groups Oath Keepers, and Proud Boys. TIKTOK AND DOG Trump signed an executive directive to delay for 75 days the implementation of a ban on popular short-video application TikTok, which was scheduled to close down on January 19. The Department of Government Efficiency was created by him to make drastic cuts in the U.S. Government. This group immediately drew lawsuits against its operation. (Reporting and editing by Tim Reid in Washington and Jeff Mason; Deepa Babington, Ross Colvin and Colleen Jenkins)
Germany's election in surveys, parties and policy arguments
Germany will hold a snap national election on Feb. 23 following the collapse of Chancellor Olaf Scholz's threeway union.
Here are the primary parties competing, their poll standings, and the essential policy concerns:
PARTIES. Germany has 2 centrist, big-tent parties: Scholz's. centre-left Social Democrats (SPD) and the opposition. conservatives, an alliance of the Christian Democrats (CDU) and. their Bavarian sister party, the Christian Social Union (CSU). Nevertheless, they have both lost support over the last few years, with. smaller parties such as the ecologist Greens and. far-right Alternative for Germany (AfD) picking up speed.
The SPD, conservatives, Greens and AfD are all fielding. candidates for chancellor.
Likewise running are the pro-market Free Democrats (FDP), the. far-left Linke and the leftist Sahra Wagenknecht Alliance (BSW),. who are all at risk of missing the 5% threshold to make it into. parliament, according to viewpoint polls.
POLLS
The conservatives have actually been leading nationwide polls for. more than 2 years and are at 30%, according to the latest. survey released by INSA on Jan. 25, followed by the AfD at 21%.
Scholz's SPD, with 16%, has dropped to 3rd from the very first. location it attained in the 2021 election. It is followed by the. Greens on 12% and the BSW on 7%. The FDP and Linke are both. ballot at 4%. However, experts state surveys can move rapidly, as citizens are. less faithful to parties than they when were, remembering the 2021. election campaign when the conservatives went from frontrunner. to runner-up within a few months. The conservatives' leader, Friedrich Merz, in particular, is. considered to be susceptible to gaffes and quick to anger.
WHAT ARE THE SECRET CONCERNS?
- Ukraine. Germany's mainstream celebrations all favour assisting Ukraine fend off. Russia's full-blown invasion, while the AfD and BSW desire an end. to weapons deliveries to Kyiv and a resumption of great relations. with Moscow. Nevertheless, Scholz and his SPD have actually just recently struck a more mindful. tone - emphasising the requirement for diplomacy and prudence on. Ukraine - than the conservatives, Greens and FDP, who are for. example all in favour of Germany delivering long-range Taurus. rockets to Kyiv.
- Restoring the economy. Scholz has proposed incentivising personal financial investment and. modernising facilities with an off-budget, 100-billion-euro. fund. His SPD likewise prepares a direct tax refund of 10% on equipment. financial investments by services. The Greens' Robert Habeck has, like Scholz, required reform of. Germany's constitutionally enshrined debt brake to allow for. greater public spending. Merz had also indicated some openness to a moderate reform of. the financial obligation brake however his celebration's manifesto has actually vowed to keep. it. The AfD and the FDP are intense protectors of the limit on. public loaning.
The CDU/CSU manifesto has proposed extensive monetary. relief for business and residents, including income and. business tax cuts, and lower electricity charges. They have not. said how these would be funded. The AfD wants Germany to ditch the euro, reintroduce the. Deutsche Mark and possibly leave the EU.
- Migration. A slew of violent attacks linked to foreign suspects in Germany. have intensified public issues over security and migration,. triggering political parties to demand more stringent procedures on. migration.
After the most recent attack on Jan. 22, Friedrich Merz,. the conservative leader and a leading chancellor prospect,
promised
to bring legislation before parliament restoring border. controls even if it required to be passed with far-right support,. something his celebration used to prevent by any means in the past.
In basic, the conservative CDU has actually increasingly adopted a. much more stringent position on immigration over the last few years, calling for. pressing back asylum hunters at the borders, and for limitations on. family reunifications and naturalisation for refugees. The anti-Islam, anti-migration AfD has required borders to be. closed and asylum hunters to no longer can family. reunification. Some senior AfD members have actually gone further in. their remarks and were present at discussions amongst reactionary. activists about deporting millions of individuals of foreign origin,. including German citizens.
They likewise desire everybody looking for asylum in Europe to be. moved to a safe third nation for processing their claims. The SPD itself has actually toughened its position by implementing stricter. border controls and speeding up deportations, although it also. wants to generate more foreign experienced workers.
On the other hand, the Greens keep a more open asylum policy,. promoting state-backed sea rescue efforts and simplifying. family reunification procedures and boosting combination.
- Energy. High energy costs stay a formidable difficulty for households. and services in Germany and an essential election campaign. subject.
The CDU, SPD and Greens settle on expanding renewable energy. to lower costs however differ on funding approaches: the CDU. suggests utilizing greater CO2 certificate incomes to lower network. charges, while the SPD and Greens support debt-financed state. subsidies. The CDU and AfD also propose evaluating a go back to. nuclear power, an idea turned down by the SPD and Greens.
The AfD opposes renewable resource subsidies entirely,. promoting unlimited coal-fired power plant operations and. abolishing CO2 prices to lower customer costs and improve. energy security.
- Relations with the Trump administration. The concern of how to tackle the new U.S. administration of. President Donald Trump, who has actually currently flagged the possibility. of increased tariffs and minimized military assistance for Europe, is. particularly delicate for Germany. The U.S. stays the top. destination for German exports and its main security ally. The SPD's Scholz has sharply countered Trump's discuss. Greenland and Canada, while frontrunner Merz cautioned against. lecturing him, stressing rather locations of possible cooperation. like a prospective EU-U.S. trade deal or joint China strategy. The Greens' Habeck alerted that the EU must stand united and look for. talks with the Trump administration since a trade war will. ultimately harm all sides. All of the mainstream parties have voiced scepticism about. Trump's demand for European nations to increase costs on. defence to 5% of financial output, given that Germany will. already struggle to keep to 2% after its unique fund for the. military runs out. Habeck, nevertheless, has actually already proposed an. boost to 3.5%.
The German party that has most welcomed the Trump. administration is the AfD, which received numerous recommendations. from Trump's ally Elon Musk, resulting in his conversation on X. with the celebration's chancellor candidate Alice Weidel.
(source: Reuters)