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Energy Markets

Stellantis adds two new members to its board of directors in order to improve financial oversight and tech expertise

Stellantis, a carmaker, announced on Monday that it had nominated Daniel Ramot, Alice Schroeder, and proposed the reelection of five other board members. The mandates of seven executives are coming to an end. Ramot, an Israeli-American, is the co-founder and CEO at Via, a global company that specializes in transportation technology. Schroeder, a former managing Director of Morgan Stanley, currently serves on the board of HSBC North America. The company stated that "the board believes Schroeder’s deep expertise in strategic leadership and financial oversight, coupled with Ramot’s extensive experience in research and technology, will provide highly valued insights and strengthen...


Energy Markets

Stellantis adds two new members to its board of directors in order to improve financial oversight and tech expertise

Stellantis, a carmaker, announced on Monday that it had nominated Daniel Ramot, Alice Schroeder, and proposed the reelection of five other board members. The mandates of seven executives are coming to an end. Ramot, an Israeli-American, is the co-founder and CEO at Via, a global company that specializes in transportation technology. Schroeder, a former managing Director of Morgan Stanley, currently serves on the board of HSBC North America. The company stated that "the board believes Schroeder’s deep expertise in strategic leadership and financial oversight, coupled with Ramot’s extensive experience in research and technology, will provide highly valued insights and strengthen...

Oil & Gas

Oil & Gas

Reactions to Trump's auto tariffs

The U.S. president Donald Trump announced on Wednesday a 25% tariff for imported cars and light vehicles starting next week. This move will likely increase prices and slow production, according to auto industry experts. What are your reactions? NATIONAL FOREIGN TRADE COUNCIL (NFTC), WHICH REPRESENTS A LOT OF U.S. COMPANIES. VP TIFFANY SMITEH "Placing tariffs against imports of automobiles could damage the competitiveness and export-readiness of an industry which relies on international supply chains and market integration for its success. We urge the administration, to prioritize the market opening opportunities of auto companies that manufacture vehicles for export from the...

Oil & Gas

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. ESSO - The French oil company Esso announced its results for the full year on Wednesday. Its adjusted EBITDA was 58 million Euros and it will propose a dividend of 3 euro per share. SANOFI, French pharmaceutical company announced on Thursday an agreement with Dren Bio to acquire its autoimmune disease treatment DR-0101 from Dren Bio. Sanofi plans to purchase Dren-0201 at a price of $600,000,000 upfront and $1.3 Billion in future payments. SODEXO - French food caterer SODEXO lowered...

Oil & Gas

Wall Street Journal, February 11,

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Elon Musk led a consortium of investors to offer $97,4 billion for the nonprofit OpenAI. This raised the stakes in the battle between him and Sam Altman regarding the company behind ChatGPT. Donald Trump, the President of the United States, announced on Monday 25% tariffs on steel and aluminum imports to the U.S. He also reinstated global duties for allies like Canada, Mexico and South Korea, which were relaxed under the Biden administration. Elliott Investment Management, a...

Oil & Gas

North American companies prepare for the fallout of Trump tariffs

The "wait and watch" period for North American businesses is over. U.S. president Donald Trump imposed a 25% tax on goods coming from Canada and Mexico along with a tariff of 10% on China. This could be the beginning stages of a full scale trade war that will cause new headaches to executives who have already been dealing with rising costs for years. Tariffs on imports from the U.S.’s three biggest trade partners could disrupt industries ranging from consumer goods to autos. Before Saturday's announcement of tariffs, executives were able to dodge questions regarding the issue. Many wanted to avoid...

Oil & Gas

Russian court tells Yandex to conceal images of oil refinery after Ukrainian attacks, TASS says

A Russian court has actually purchased web company Yandex to conceal access to maps and pictures of among Russia's largest oil refineries due to continuous attacks by Ukrainian drones, state news agency TASS reported on Friday. Yandex, frequently described as Russia's Google, operates the nation's largest search engine and other online services like maps, translate and email, along with ride-hailing and food delivery. The court in Moscow ordered Yandex to omit information about the refinery's facilities from its search results page by getting rid of and editing images of workshops, compressor stations and other parts of the plant from Yandex...

Oil & Gas

US settles $9.63 billion loan for Ford, SK On joint battery venture

The U.S. Energy Department on Monday said it has actually finalized a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to assist fund building of three new battery manufacturing plants in Tennessee and Kentucky. The low-priced government loan for the BlueOval SK joint venture is the largest ever from the federal government's Advanced Innovation Cars Production loan program. SK On is the battery system of energy group SK Development. The last award - initially reported - is among a. series of actions by the Biden administration to improve electrical. vehicle production...

Oil & Gas

United States finalizes $9.63 billion loan for Ford, SK On joint battery venture

The U.S. Energy Department on Monday said it has settled a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to help finance construction of 3 new battery manufacturing plants in Tennessee and Kentucky. The affordable federal government loan for the Blue Oval SK joint venture is the largest ever from the government's Advanced Innovation Cars Manufacturing loan program. SK On is the battery system of energy group SK Innovation. The amount is greater than the $9.2 billion conditional commitment announced in June 2023 and comes simply weeks before President-elect Donald Trump...

Oil & Gas

Stellantis-backed ACC to broaden French gigafactory

Battery maker Automotive Cells Business (ACC) is set to sign a brand-new loan to fund the second production block of its gigafactory in northern France, a. business representative stated, as it increases output in spite of Europe's. slow electric car market. The loan, guaranteed by ACC's 2 primary investors, automobile. makers Stellantis and Mercedes-Benz Group,. deserves around 1 billion euros ($ 1.05 billion), two sources. knowledgeable about the matter said, verifying a report by paper. Les Echos. Stellantis and Mercedes did not react to ask for. comment. Smaller sized investor TotalEnergies decreased to. comment. The factory already operates one production...

Oil & Gas

Varo Energy in talks to purchase Preem's Swedish refineries, sources say

European energy company Varo Energy is in speak with obtain Preem's two Swedish refineries in a bet on growing need for lowcarbon biofuels, 4 market sources told Reuters. Varo has been broadening quick in Europe's refining and fuel trading recently. The company is backed by private equity giant Carlyle Group and the world's most significant trading house Vitol, which has actually enjoyed record revenues recently. Varo could purchase the Gothenburg and Lysekil plants from Corral Petroleum Holdings, which owns Preem, the sources stated. A Varo representative decreased to comment. Preem decreased to comment. The sources stated the value of the...

Oil & Gas

McEwen Copper seeks $2.5 bln for Argentina copper mine Los Azules

Canada's McEwen Copper is hunting for financiers to raise $2.5 billion to move on with building of Los Azules copper mine in Argentina, company Vice President Michael Meding stated in an interview. McEwen Copper, part of McEwen Mining, is among numerous international companies seeking to draw out copper in the mountains of northern Argentina, an area mostly untapped for the product due to the nation's hard capital controls and volatile economy. A reward program under President Javier Milei is now spurring activity, including from significant gamers such as miner BHP, after the nation's only copper mine closed in 2018. Los...

Oil & Gas

Vulcan in talks with producers to licence lithium technology

Australialisted Vulcan Energy is in talks with lithium companies to licence its filtering technology, tapping a brand-new profits source as the firm commercialises its renewableenergy job in Germany, the CEO stated on Tuesday. Vulcan started producing lithium hydroxide previously this month from its Rhine Valley operations utilizing adsorption direct lithium extraction (A-DLE) - utilizing geothermal heat to extract lithium from brine deposits. DLE is expected to reshape the lithium market by speeding the production procedure of the metal used in EV batteries and electronic devices to hours or days, compared with months or longer. Vulcan has signed up with the...

Oil & Gas

French and Benelux stocks-Factors to see

Below are companyrelated news and stories from France and Benelux which might have an influence on the area's markets or specific stocks. POLICE 29 Controversial COP29 deal reveals environment cooperation tearing at edges CARREFOUR Brazilian meatpackers have actually apparently stopped supplying meat to the group in Brazil after the retailer's worldwide CEO promised to keep South American meat off its shelves in France in solidarity with French farmers CTP Places EUR 500 mln green bond and EUR 200 mln tender deal SANOFI Strategies to change medical facility drug-discount program, WSJ reports THALES Two people knowledgeable about a corruption probe by...

Fossil Fuels

Fossil Fuels

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. TRUMP/TARIFFS - President Donald Trump's "reciprocal tariffs" on dozens countries went into effect on Wednesday. These included massive 104% tariffs on Chinese goods. This deepened his global trade conflict even as he was preparing for negotiations with certain nations. France/Economy: The French economy performed marginally better than anticipated in the first three months of the year, but the business environment in the industrial sector will ease due to new U.S. Tariffs. This was stated by the central bank in its...

Power Markets

Dutch consider new subsidies for offshore Wind as bidders opt-out

The Dutch government wants to introduce subsidies into its offshore wind farm tenders, because bidders have withdrawn from the current "zero-subsidy" model. Since 2017, the Netherlands has been able to attract builders to its offshore wind farms, without subsidizing electricity prices. However, interest has decreased due to increasing construction costs and uncertain power prices. The Dutch Climate Ministry said that interest in the upcoming auction for three sites on the North Sea was "very low". Eneco, Orsted and other energy firms have already announced that they will not participate in the September tender because they do not see a viable...

Fossil Fuels

French and Benelux stocks: Factors to watch

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. EXMAR: Exmar reported on Thursday a decline in FY IFRS revenues to $348.9 millions but an increase in IFRS EBITDA at $204.7 million. It will not be proposing a dividend in 2024. FLUXYS: Fluxys announced on Thursday that FY revenues and EBIT had increased to 608.8 millions euros ($657.0) and 133.9million euros, respectively. It proposes to pay a EUR 1.4 dividend per share. HAL TRUST HAL Trust reported that its NAV will increase by 2,20 billion euros in 2024 to...

Mining

Mineral Resources

Mineral Resources

Stellantis production in Italy dropped further in the first quarter, according to unions

The FIM Cisl union reported on Tuesday that Stellantis' Italian car production fell further in the first three months after falling to a 70-year low by 2024. New models won't support activity until next year. In a report issued by the union, vehicle production, which includes passenger cars and vans, was down 35.5% from a year ago to approximately 110,000 units. The automaker added that activity contracted at all six of its assembly plants in Italy. Production of the Dodge Hornet fell by 80% in Pomigliano to 1,356 units. The Hornet is one of only a few Stellantis models that...

Mineral Resources

EU Commission chief discusses U.S. Tariff response with automakers, steel and pharmaceutical leaders

Ursula von der Leyen, President of the European Commission, held a conference call on Monday with representatives from the metals sector. She then spoke to the automotive industry to discuss ways to respond to U.S. Tariffs. The calls were to gather data to inform future countermeasures, beyond Brussels' response to Washington's tariffs on steel. This will be voted upon later this week. On Tuesday, a call will be held with the European Pharmaceuticals Industry. On Monday, European and Asian stocks and oil prices plunged on fears that U.S. president Donald Trump's tariffs could increase prices, weaken the demand and even...

Mineral Resources

South African rand reaches 18-month low and stocks recover after plunge

South Africa's currency, the rand, fell to its lowest level in 18 months Monday. Local stocks also plunged and then recovered as financial markets were shaken by fears of a global recession due to President Donald Trump’s tariffs. The rand was trading at 19.31 per dollar, down 1% since Friday's closing, and its lowest level since October 2023. Trump did not show any signs of rescinding his tariff plans Sunday and on Monday, investors flocked to safe-haven currencies such as the Swiss franc and yen. The emerging market index is heading for the biggest one-day drop since 2008's global financial...

Mineral Resources

EU Commission chief discusses U.S. Tariff response with auto executives, steel executives and pharmaceutical executives

Sources and a letter indicated that Ursula von der Leyen, President of the European Commission, spoke with representatives from the metals sector on Monday. She then addressed the automotive industry to discuss ways to respond to U.S. Tariffs. The calls were held to gather more information to strategise future trade countermeasures, beyond Brussels' forthcoming response to Washington's steel duties that have been announced previously and which will be voted upon later this week. Tuesday is set for a third call with representatives of the European pharmaceuticals sector. Investors feared that the tariffs Trump announced last weekend could lead to higher...

Mineral Resources

Trump's tariffs are forcing trading partners into a corner

The only option for U.S. trade partners in the current trade war with Donald Trump is to sue. Most countries that are hit by tariffs of 10%-50% on their exports, to the dominant economic superpower in the world, lack the firepower or political will to fight back, according to government officials, economists, and trade experts. The vast majority of Trump's trading partners didn't immediately respond and instead indicated their willingness to negotiate with him a compromise that would save face. Even those who have counter-measured left the door open to negotiations. China, who on Friday imposed an additional 34% tariff...

Mineral Resources

Trump administration increases beer can imports to 25% US Aluminum tariffs

On Wednesday, the Trump administration announced that it would impose a 25% duty on all beer imports. The beverage and empty aluminum aluminum cans will be added to a list containing derivative products which are subject to aluminum tariffs. In a Federal Register announcement, the Commerce Department stated that duties on beer will be collected at 12:01 am EDT Friday, April 4, starting with empty aluminum cans. The notice reversing Trump's previous aluminum tariff changes only lists the tariff code for malted beer. The notice does not mention a subordinate tariff code for beer imported in glass bottles. The Commerce...

Mineral Resources

LME fines Access World Access World $77,000 for violating warehouse rules

London Metal Exchange (LME), has taken disciplinary actions against Access World Vlissingen B.V. for breaches of LME warehouse rules that date back to 2022. The company agreed to pay an amount of 60,000 pounds ($77328) as a penalty. The exchange, which is the oldest and largest industrial metals market in the world, announced that a settlement had been reached prior to the institution of any disciplinary proceedings. Four warrants of full-plate nickel cathodes, between October 18, 2022, and November 16, 20,22 were loaded erroneously out of a shed at Access World's Rotterdam office. LME warrants confer ownership. A third party,...

Mineral Resources

Tesla sales in France fall to the lowest level in four quarters

Elon Musk’s electric car brand's first quarter sales in France have been the lowest since 2021, according to data released on Tuesday. Tesla's sales have been in decline ahead of its much-anticipated Model Y midsize SUV launch. The billionaire CEO is a close ally to U.S. president Donald Trump and has courted far-right parties across Europe. Data from the French auto body PFA revealed that Tesla sold 3,157 cars in France in March, a drop of 36.83% from last year. This equates to 6,693 registrations for the first quarter. The PFA's share of the country's market dropped to 1.63% for...

Mineral Resources

What is Trump's new 25% tariff on US auto imports?

Donald Trump, who has been threatening new tariffs for weeks on imported vehicles, followed through with his threats on Wednesday. He said that a 25% tax would be imposed on cars not made in the U.S. next week. Trump will add a 25% tariff to previous duties on imported finished vehicles, starting April 3 at 12:01 am EDT (0401 GMT). The U.S. base tariff rate on automotive imports is 2.5 percent. The plan to disrupt the auto supply chain and trade sparked uncertainty among investors and customers, and retaliation threats were made. Global auto stocks fell from Asia to America....

Mineral Resources

Elon Musk’s Tesla will be less affected by Trump’s auto tariffs

Tesla, the electric vehicle manufacturer, was less affected by Donald Trump's auto tariffs than other automakers. Analysts said that Tesla's financial performance and supply chain may not be affected due to the large levies on global shipments, including cars and parts, to the United States. This is mainly because the company produces a majority of its products domestically. Even though Musk is now one of the primary advisors to President Trump, Musk's task may not be to improve the reputation of the brand worldwide. Musk was appointed by Trump as his chief adviser and has been tasked with cutting federal...

Mineral Resources

Elon Musk’s Tesla will be less affected by Trump’s auto tariffs

Tesla, the electric vehicle manufacturer, was less affected by Donald Trump's auto tariffs than other automakers. Analysts said that Tesla's financial performance and supply chain may not be affected due to the large levies on global shipments, including cars and parts, to the United States. This is mainly because the company produces a majority of its products domestically. Even though Musk is now one of the primary advisors to President Trump, Musk's task may not be to improve the reputation of the brand worldwide. Musk was appointed by Trump as his chief adviser and has been tasked with cutting federal...

Mineral Resources

Trump's 25% auto tariff sparks international criticism

Donald Trump, the U.S. president, announced on Wednesday a 25% tariff for imported cars and light vehicles starting next week. This move will likely increase prices and slow production. Here are some reactions from around the world. ELON MUSK is the CEO of TESLA It is important to note that Tesla has not been left untouched in this situation. Tesla's tariff impact is still substantial. The price of Tesla parts that are imported from other countries will be affected. "The cost impact is not insignificant." SHIGERU ISHIBA IS JAPAN'S PRIME MINISTER "Japan makes the most investment in the United States....