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Energy Markets

Fossil Fuels

Fossil Fuels

European shares fall on worries of Trump tariffs

European shares ended lower on Wednesday, following a broad rally earlier in the session, hurt by a drop in energies shares on fears that U.S. Presidentelect Donald Trump could halt fresh approvals for overseas wind jobs. Trump, who regained the White Home by protecting more than the 270 Electoral College votes required to win the presidency, had actually promised throughout his election project to scrap overseas wind projects by executive order on his first day in office. Shares of Oersted and Vestas fell 12.8%. each, while the wider energies sector was down 2.6%. The pan-European STOXX 600 was down 0.5%,...

Electric Utilities

Finnish energy Fortum Q3 earnings lags forecast

Finnish utility Fortum reported on Tuesday a biggerthanexpected drop in JulySeptember operating revenue and stated it would invest 100 million euros in the decarbonisation of its Czestochowa heat and power plant in Poland. Operating revenue fell to 123 million euros ($ 133 million). in the fiscal 3rd quarter from 251 million a year previously on. lower spot prices, against a typical projection of 157 million. euros in a company-provided survey. In July and August, Nordic area prices were pressured by. high precipitation, good nuclear accessibility and increasing. wind and solar output, Fortum CEO Markus Rauramo said in a. statement. Fortum...

Fossil Fuels

European donors woo South Africa's sceptical coal belt on green energy

European political leaders and diplomats held talks with officials and employees' unions in South Africa's coal belt on Wednesday to attempt to encourage them that switching to renewable energy from fossil fuels require not leave them destitute. The discussions in Mpumalanga province involving abundant countries moneying the energy transition aim to conquer resistance from communities fearing economic disaster. At Emalahleni, the location of coal in Zulu, union leaders were honestly sceptical at speeches recommending task losses could be balanced out by a boom in climate-friendly energy. I don't believe one conference will persuade them, Elsebeth Krone, the ambassador of Denmark,...

Oil & Gas

Equinor purchases 9.8% stake in Orsted valued at $2.5 bln

Norway's Equinor stated on Monday it has actually bought a 9.8% stake in Danish renewable energy group Orsted valued at around $2.5 billion, making it the 2nd largest shareholder after the federal government of Denmark. Orsted's share cost increased on the news, trading 2.8% greater at 1028 GMT, while Equinor's shares fell by 2.3%. Orsted did not right away react to an ask for remark. Equinor said it had a long-lasting viewpoint on the investment but did not strategy to raise its stake beyond 10%. This is a counter-cyclical financial investment in a leading designer, and a premium portfolio of...

Oil & Gas

Kremlin says Germany is ideal to completely examine Nord Stream pipeline blasts

The Kremlin said on Monday that German Chancellor Olaf Scholz was best to want a comprehensive examination into a 2022 attack on the Nord Stream gas pipelines in spite of what it stated were attempts by some Western powers to hush up what actually took place. Scholz stated in an interview with German television over the weekend that Berlin's investigation would ensure that nothing was hidden and do its best to make sure that those responsible for the blasts were penalized. Moscow has consistently grumbled that Germany has actually not been doing enough to examine the surges, which in September...

Renewable Energy

Norway sovereign wealth fund commits $1 bln to renewable resource fund

Norway's sovereign wealth fund stated on Monday it will dedicate 900 million euros ($ 1.01. billion) to the latest renewable energy fund of investment company. Copenhagen Infrastructure Partners (CIP). Norges Bank Financial Investment Management (NBIM) committed the amount. to CIP's 5th flagship fund CI V, which buys overseas and. onshore wind, solar farms, grid and circulation, in addition to. storage, the world's biggest sovereign wealth fund said in a. declaration. NBIM, which has properties of $1.7 trillion, invests income. from Norway's oil and gas market in international stocks, fixed. earnings, realty and renewable energy assets. ( This offer) will provide...

Oil & Gas

Russia files problem to Germany over Nord Stream sabotage examination, RIA reports

Russia has actually grumbled to Germany over its investigation into the 2022 surges of the Nord Stream pipelines, RIA news agency reported on Monday, after a secret suspect left arrest in Poland. German media reported recently that German district attorneys had identified a Ukrainian diving trainer as an essential suspect in the Nord Stream sabotage attack and provided a warrant to jail him in Poland. Poland got the German warrant however the suspect has left the nation as Germany stopped working to include his name in a database of wanted persons, Polish district attorneys told Reuters. Moscow thinks the German...

Fossil Fuels

India to look for licences to hunt Pacific Ocean for vital minerals

India will make an application for licences to explore for deepsea minerals in the Pacific Ocean as it contends to protect products of minerals vital for energy shift technologies, a leading federal government researcher told . The UN-backed International Seabed Authority (ISA) has provided 31 deep-sea exploration licences, consisting of 2 for India in the Indian Ocean, but is yet to enable mining since the 36-member body is still working on regulations. The 36-member ISA council is meeting in Jamaica this month to work out the most recent draft of a mining code. M. Ravichandran, the leading researcher at India's...

Fossil Fuels

India to look for licences to hunt Pacific Ocean for important minerals

India will obtain licences to explore for deepsea minerals in the Pacific Ocean as it completes to protect products of minerals critical for energy shift innovations, a top federal government scientist told . The UN-backed International Seabed Authority (ISA) has issued 31 deep-sea exploration licences, consisting of 2 for India in the Indian Ocean, however is yet to allow mining due to the fact that the 36-member body is still dealing with regulations. The 36-member ISA council is fulfilling in Jamaica this month to work out the latest draft of a mining code. M. Ravichandran, the leading researcher at India's...

Fossil Fuels

Nasdaq, EEX bourse cancel Nordic power company sale offer

Exchanges Nasdaq and the European Energy Exchange (EEX), Europe's greatest power bourse, stated on Wednesday they have actually cancelled strategies under which the EEX would have bought Nasdaq's Nordic power trading and clearing company. The deal would have increased EEX's dominance in the European power trading sector even further. Although the offer, which was announced last year, did not fulfill the basic limit requirements for an EU anti-trust examination, some authorities in Nordic member states requested that the EU Commission take a closer take a look at the case on issues it could hamper market competitors. A preliminary evaluation of...

Natural Gas

Goldman Sachs-backed Danish energy trader sees profit plunge

Danish energy trader InCommodities, backed by Goldman Sachs, on Tuesday reported a. plunge in its pretax revenue for 2023 to 136 million euros, just. 10% of its record earnings seen a year earlier, as energy markets. returned to calmer waters. In 2022, the Aarhus-based business, which trades power and. gas in Europe, the United States and Asia, had tape-recorded a profit. before tax of 1.4 billion euros ($ 1.52 billion). Goldman Sachs and chosen financiers own a 15% stake in the. company while its four creators and employees own the rest,. according to its annual report. There's no doubt that...

Wind Farms

Denmark, Sweden end warnings on natural gas supply

Denmark and Sweden on Monday stated they were no longer caution of a danger of a lack of gas, canceling notifies raised simply months after Russia's fullscale invasion of Ukraine. The 2 nations' energy companies in June of 2022 both stated they had activated the primary step of their particular three-stage emergency strategies, which indicated a tighter tracking of the marketplace due to unpredictability about gas supplies from Russia. The warning was now no longer required, the Danish regulator stated on Monday. Gas intake has actually been lowered and the supply circumstance is stable, it composed in a declaration. The...

Environment

Environment

Financial Times - Jan 10

The following are the leading stories in the Financial Times. Reuters has actually not validated these stories and does not guarantee their precision. Heading - Nathaniel Rothschild submits claim against Lars Windhorst - General Atlantic-backed biotech start-up protects $410mn in initial funding round - BlackRock gives up climate change group in latest green climbdown - UK government seeks to soothe bond market nerves after obtaining costs soar Summary - British financier Nathaniel Rothschild has actually filed a suit against Lars Windhorst in London's High Court, within 6 months of the banking dynasty scion agreeing to become chair of the German...

Carbon Emissions

Denmark to convert 15% of farmland to forest to cut fertilizer use

Denmark will transform 15%. of its farmland into forest and natural habitats in an effort to. lower fertilizer use, which has led to extreme oxygen. exhaustion in Danish waters along with the loss of marine life,. lawmakers stated on Monday. Denmark, amongst the most intensively cultivated countries in. the world with almost two-thirds of its area farmed, set. aside 43 billion Danish crowns ($ 6.1 billion) to get land. from farmers over the next 20 years. Under the deal, which also makes Denmark the very first nation. to enforce a carbon tax on farming, the Nordic country strategies. to plant...

Climate Change

GE Vernova to eliminate some Vineyard Wind blades after quality checks

GE Vernova will get rid of some turbine blades installed at the Vineyard Wind overseas wind farm off the coast of Massachusetts following quality checks triggered by the failure of a blade in July, the company stated on Wednesday. The business has been disallowed from producing power or resuming full building and construction at Vineyard Wind, the first significant U.S. offshore wind development, given that a turbine blade broke and sent particles into the water that cleaned up on neighboring beaches. The turbine maker blamed a production flaw for the break, and has actually spent months checking blades with ultrasound...

Mining

Mineral Resources

Mineral Resources

Weight-loss drug developers line up to tap market worth $150 billion

Novo Nordisk's Wegovy and Eli Lilly's Zepbound are up until now the leaders in the weightloss drug market, which is estimated to be worth about $ 150 billion by the early 2030s. There are also a number of other drug developers intending to join the bandwagon. The following is a list of publicly noted business targeting the next huge blockbuster chance: NOVO NORDISK Novo's closely-watched weight problems drug candidate CagriSema assisted overweight patients cut their weight by 22.7% in a. late-stage trial, but that was below its own expectations of up. to 25% reduction. The data compares to weight-loss of...

Mineral Resources

Biden officials make desperate push for Greenland mining investment

The outgoing administration of U.S. President Joe Biden is making a lastditch push for mining business and others to buy Greenland, a relocation focused on sealing its vital minerals diplomacy and enhancing Western supply of materials for the energy transition. Before President-elect Donald Trump takes workplace in January, Biden and his staff have been taking multiple steps to fortify their legacy, including increasing help to Ukraine and hurrying to approve U.S. mine permitting and financial rewards. Jose Fernandez, the State Department's under secretary for economic development, energy and the environment, spent four days in Nuuk last week to meet with...

Mineral Resources

France's RTE indications billion euro cable supply arrangement with European manufacturers

France's electricity transmission system operator RTE on Tuesday announced a billion euro ($ 1.09. billion) agreement with European suppliers, consisting of fibreoptic. cables maker Nexans, to support its projects through. 2028. RTE also announced the signature of supply contracts with. Greece's Hellenic Cables, Italy's Prysmian. in addition to Copenhagen-listed NKT. WHY IT IS IMPORTANT RTE preserves and develops the high and extra-high voltage. network in France, consisting of 7,000 km of underground lines. The. French grid, which is the most extensive in Europe, features 37. affiliations with its neighbouring nations. KEY QUOTE These contracts highlight how the investments made by...

Mineral Resources

Zinc slides as inventory arrivals reduce supply worries

Zinc prices dropped on Friday, pulling away from the previous session's 20month high, as stock inflows soothed worries about potential scarcities. The majority of other commercial metals on the London Metal Exchange were also at a loss, weighed down by the lack of robust stimulus procedures in leading metals customer China and care ahead of the U.S. governmental election. Three-month LME zinc slid 3.6% to $3,059 a metric ton by 1000 GMT after touching its highest considering that early February 2023 on Thursday. There have actually been a great deal of shenanigans in the zinc market today and some of...

Mineral Resources

Eli Lilly raises annual revenue forecast as Zepbound quarterly sales cross $1 billion

Eli Lilly on Thursday raised its annual earnings forecast and sales of its popular weightloss drug Zepbound crossed $1 billion for the first time in a. quarter. The drugmaker now anticipates adjusted earnings of $16.10 to. $ 16.60 per share for 2024, compared to its previous forecast of. $ 13.50 to $14. Lilly and Danish competing Novo Nordisk are racing to. increase production capability to satisfy unprecedented need for. their popular weight-loss drugs that have actually been shown to assist. clients lose as much as 20% of their weight typically. Experts have said the companies will likely divide the U.S....

Mineral Resources

Irn-Bru maker A.G. Barr bets on sodas' demand to improve earnings

IrnBru maker A.G. Barr forecast on Tuesday its halfyear revenue to be higher than prioryear levels, supported by strong demand for its mixed drink mixes and sodas. WHY IT is essential In the past year to present, the company has downsized and obtained businesses to broaden its soft drinks portfolio to keep up with growing demand and competition. CONTEXT The recently agreed 3.3-billion-pound ($ 4.24 billion) merger between Danish maker Carlsberg and British soft drinks maker Britvic had caused shares of peers A.G. Barr and Fevertree to rally. The merger was a relocation that could create a UK beverage powerhouse,...

Mineral Resources

Deals of the Day- Mergers and Acquisitions

By Tuesday, 2000 GMT, the following mergers, acquisitions, and dispositions had been reported: * MP Materials announced that Australian billionaire Gina Rinehart’s mining company has acquired a 5,3% stake in its company, adding to the rare earth investments she already holds. People with direct knowledge said that British Airways' owner IAG will receive an EU antitrust alert about its bid to take full control of Air Europa, after the remedies it has taken failed to satisfy EU antitrust concerns. The two companies have announced that the promoters of IndusInd Bank, a private lender, will purchase a 60% stake of the...