North America

U.S. Treasury secretary Scott Bessent told reporters that additional sanctions against Venezuela could be lifted as soon as next week to facilitate oil sales. The sanctions against Venezuela could be lifted next week in order to promote oil sales. Bessent stated in an interview late on Friday that the IMF Special Drawing Rights (money assets) currently frozen by Venezuela could be used to rebuild its economy. Bessent, during a tour of a Winnebago Industries facility for engineering, said: "We are de-sanctioning oil that is going to be purchased." Treasury is examining ways to facilitate the return of oil sale proceeds...

Commodities trading houses Trafigura &?Vitol agreed to provide marketing and logistical services for the sale of Venezuelan oil, at the request of?U.S. A Trafigura spokesperson confirmed this via email. First reported on Thursday, citing people familiar with the discussions, that both companies were in negotiations with the U.S. Government for such deals. They were in competition with U.S. producers of oil and other commodities traders for lucrative deals to export Venezuelan oil. U.S. officials have said that they want to control Venezuelan Oil Sales Indefinitely After the U.S. captured South American country's president Nicolas Maduro Saturday. Richard Holtum, the Chief...

?U.S. U.S. President Donald Trump announced that a second round of attacks against Venezuela had been canceled following the South American country's cooperation. On Friday, the president announced that Venezuela would be releasing many political prisoners in a show of "seeking peace" following last week's dramatic U.S. operation which resulted in capturing?President Nicolas Maduro. "This is an important and intelligent gesture. Trump stated on "Truth Social" that the U.S.A. and Venezuela work well together in rebuilding their oil and natural gas infrastructure, which is much larger, better and more modern. His post continued, "Because of the?cooperation', I have cancelled the...

Investors were rattled by renewed worries?over U.S. Tariffs, which led to a fall in Indian equity benchmarks for the fifth straight session. The Nifty 50 dropped 0.75%, to '25,683.3. ', while the Sensex slipped 0.72%, to 83576.24. Each index lost around 2.5% for the week. 15 of 16 major sectors declined during the week. Small-caps fell by 3.1%, while mid-caps dropped 2.6%. According to Republican Senator Lindsey Graham, U.S. president Donald Trump has supported a bipartisan measure targeting countries that do business with Russia. The bill would impose tariffs of up to 500% on imported goods. India is 'the second...

Scott Bessent, U.S. Treasury secretary, said that the largest oil companies will likely move more slowly in making investments in Venezuela. Independent oil companies or "wildcatters" are more likely to move quickly. Bessent, who made his most comprehensive remarks since U.S. troops removed Venezuelan President Nicolas Maduro, refuted the notion that oil companies are reluctant to invest. He said that his phone was ringing from small firms wanting to "get to Venezuela today." He said to the Economic Club of Minnesota that smaller firms were different than majors such as Chevron, and other multinational corporations, which faced more bureaucracy. "When...

According to four sources with knowledge of the situation, Harry Sargeant III, a billionaire energy entrepreneur who is also a Republican donor and a member of his team, advises the Trump administration about how to engineer the return to Venezuela of American oil companies. Sargeant's involvement, a man with long-standing connections to Venezuela's petroleum industry, shows how the Trump administration relies on U.S. executives to guide it in the energy sector of the country following the dramatic U.S. operation last week that led to the arrest of Nicolas Maduro. As U.S. forces continue to seize?oil tanks?linked to Venezuela, Secretary of...

Portuguese energy company Galp is in talks with private equity-backed Moeve to merge their refining and?chemicals businesses as well as fuel retail businesses. They announced the deal on Thursday. According to their non-binding contract,?Galp, Spain's Moeve and the United Arab Emirates state-owned investment firm Mubadala, as well as U.S. investment firm Carlyle Group plan to form two new companies. One would run 3,500 retail fuel stations, primarily in Spain and Portugal. It would sell more than 6 million metric tonnes of refined products per year. The other would run Moeve’s Huelva, Algeciras and Galp’s Sines oil refineries. Three facilities with...

The day ahead for European and global markets on Thursday Donald Trump has been the subject of many headlines over the last 24 hours. He promised to stop defense contractors from paying dividends and buying back shares until weapons production increased. He supported a bipartisan bill that targeted countries doing business in Russia. The United States was also removed from dozens of U.N. and international organizations. His vice president said that the U.S. would exert "incredible" pressure on Venezuela by controlling its oil sales. Trump's plans for Greenland are also worth mentioning. But the markets don't seem to give a...

The Wall Street Journal reported that U.S. president Donald Trump, along with his advisers, are planning to dominate the "Venezuelan Oil Industry" for many years. Trump told his aides that he believed his efforts could lower oil prices as low as $50 per barrel. The report cited people who were familiar with the situation as saying that the U.S. was considering a plan in which they would exert?some control? over Venezuela's PDVSA state-run oil firm, including purchasing and marketing the majority of its oil production. Could not confirm immediately the report. The White House didn't immediately respond to the?'?zeit imediat??'?...

PDVSA, Venezuela's state oil company, said Wednesday that it was?progressing with negotiations with the United States regarding oil sales.?A board member of the company informed?the?U.S. Will need to purchase cargoes at the international price. Washington announced on Tuesday that it had reached a deal with Caracas for access to up $2 billion of Venezuelan crude. This is a sign the Venezuelan government has responded to President Donald Trump’s demand that they be open to U.S. companies and risk further military intervention. Trump has said that he wants Delcy Rodrguez, the interim Venezuelan president, to be installed in this week's after...

Trump warns of more military operations following Maduro's capture Murphy, a Democrat, says that the plan is stealing oil at gunpoint' Rubio: US will make sure oil companies can access Venezuela during the recovery phase. Simon Lewis and Patricia Zengerle WASHINGTON - On Wednesday, Marco Rubio, the Secretary of State, said that the United States had a three-step strategy for Venezuela. The plan will start 'with stabilizing the country, after U.S. troops seized Nicolas Maduro,' then ensure that U.S. companies have access to Venezuela during the recovery phase, and lastly oversee a transition. Donald Trump warned that he would launch...

MEXICO CITY. Jan. 7 - Mexican president Claudia Sheinbaum stated on Wednesday that Mexico was not sending more crude oil to Cuba than in the past, but that amidst recent events in Venezuela Mexico had become an "important" supplier of crude oil to Cuba. Sheinbaum's comments were made during her morning press conference, in response to the question of whether Mexico was now the primary oil supplier for Cuba following the United States blockade of oil exports from Venezuela since mid-December. "We are not sending more oil than we have historically." She said. "Ofcourse, with the current Venezuelan situation, Mexico...

A Japanese mining vessel left on Monday for an atoll coral to explore mud rich in rare earths. This is part of Tokyo’s efforts to reduce its dependence on China as Beijing restricts the supply. The Chikyu test vessel will be on a month-long mission near Minamitori Island, some 1,900 km (1200 miles) south of Tokyo. This is the first time in the history of mankind that a seabed sludge of rare earths can be continuously lifted from?6km (4 miles) depth onto a ship. Japan has reduced its dependency on China, as have its Western allies. These minerals are vital...

The Japanese ship left on Monday to explore a coral atoll rich in rare Earths. This is part of Tokyo's efforts to reduce its dependence on China as the latter tightens up supply. The Chikyu test vessel will spend a month near Minamitori Island, 1,900 km (1200 miles) south of Tokyo. This is the first time in the history of mankind that sludge from the seabed can be continuously lifted onto a ship. Japan has reduced its dependency on China, as have its Western allies. These minerals are vital for the production of smartphones, military equipment and cars. This effort...

The U.S. Environmental Protection Agency rejected Colorado's plan on Friday to comply with regional haze regulations by closing its coal plants. It said the state "needs" the plants to continue running to maintain reliable power. The agency stated that Colorado's plan to reduce pollution from sulfur dioxide and nitrogen oxidation, which causes haze and smog in national parks and wilderness regions, violated the Clean Air Act since the state failed to?get the consent of one of the coal plant targeted for an early retirement. Why it's important The Trump administration is extending the life of coal-fired plants in order to...

The U.S. Securities and Exchange Commission dismissed on Friday its lawsuit against an ex-Rio?Tinto Chief Financial Officer, ending a longstanding fraud case over a "bad investment" in a Mozambique Coal Project by one of the world's biggest mining companies. The SEC announced in a Manhattan federal filing that it dismissed its civil case against Guy Elliott, "in the exercise its discretion," and without addressing its remaining claims. The SEC dismissed its civil case against Guy Elliott on Friday, without addressing the merits of any remaining claims. Elliott denied wrongdoing. His lawyers called it "a complete victory for the defense" in...

Poland's Prime Minister is concerned about the strain that the United States' threats to 'take over Greenland' is putting on NATO. He said this on Friday. Warsaw, as a loyal ally, should be honest about its concerns with Washington. Poland sees the United States and NATO in a 'critical role in its security, in light of a 'increasingly assertive Russia. Policymakers in Warsaw are concerned that divisions in the alliance might embolden Moscow. The NATO alliance would be shocked if the U.S. took Greenland away from Denmark, a long-time ally. It would also deepen the divide that exists between Trump...

Anu 'Aiyengar', JPMorgan Global Head of Advisory & M&A told a reporter that dealmakers will have another banner year - 2026 - with a record amount of deals on the way. CEOs are seeking the safety and scale of a large company to help them weather the mounting geopolitical and economic risks. Anu?Aiyengar, JPMorgan's Global Head of Advisory and M&A, said in an interview that last year saw the second highest amount of M&A deals ever, totaling $5.1 trillion. This was despite the stomach-churning gyrations caused by President Donald Trump’s changing trade policies, as well as a government shut down...

According to a White House spokesperson, despite Denmark's repeated assertion that Greenland was not for sale the U.S. president Donald Trump and his staff are "talking" about a possible?purchase. Even as a hypothetical thought experiment, assuming the presence of a seller willing to sell an autonomous territory like Greenland, the discussion quickly encounters imponderables. For example, how could a meaningful price be established? Nick Kounis is the chief economist at Dutch ABN AMRO Bank. He noted that there was no agreed framework for valuing nations. Finding historical benchmarks of fair value is also difficult. In 1946, the U.S. made an...

AustralianSuper, BlueScope Steel's largest shareholder, said that a $9 billion takeover bid from SGH & Steel Dynamics in the U.S. undervalued the company and it supported its decision to reject this offer. After announcing its increase from 12.5% on Thursday, the pension fund now holds 13.52% in BlueScope. BlueScope, which rejected the SGH Steel Dynamics offer of?A$30 a share on Wednesday, said that it was "significantly undervalued" and accused the acquirers for trying to purchase BlueScope 'on the cheap. AustralianSuper's spokesperson stated that "we?support the BlueScope Board's decision to?reject?the offer" and to'remain focused' on executing the strategy of the company...

BlueScope Steel’s largest investor, AustralianSuper said on Friday that it supported the Australian company's decision to reject a $9 billion offer from U.S.-based Steel Dynamics and?SGH?. After announcing its increase in stake on Thursday, the pension fund now holds 13.52 % of BlueScope. BlueScope rejected the $A30 offer from?SGH & Steel Dynamics on Wednesday, saying that it was "very significantly undervalued". The company also accused the acquirers of trying to buy BlueScope 'on the cheap. AustralianSuper's spokesperson stated that "we support the BlueScope Board's decision to reject the offer and remain focused on executing the company's strategy, without distraction." The...

According to an EU filing, the proposed merger between London-listed miner Anglo American and Canada's Teck Resources is headed for antitrust clearance in Europe after EU regulators indicated that there were no competition concerns. The EU's competition enforcer has reviewed the deal, which is?the second largest ever in the mining industry,? under a streamlined procedure, after the companies requested approval on Tuesday. This means that the EU watchdog is not concerned about a merger causing'significant competition problems.' It will only conduct a routine inspection. Commission's decision on deal to create the fifth largest copper company in the world will be...

According to documents and officials reviewed by, the Trump administration and U.S. Congress will launch a plan to reverse former president Joe Biden's ban on mining in northern Minnesota. This plan is intended to prevent future administrations taking similar measures. The Twin Metals project in Antofagasta, which is one of North America's biggest untapped reserves of these critical minerals, has been developing for the last year. The plan's details have never been revealed before. Trump has refocused on domestic mining projects in the United States, even though his administration continues to push for mineral access. Greenland Ukraine And elsewhere Minnesota's...

Gold prices fell on Thursday, as investors prepared for futures sales?linked?to? a commodity index reshuffle. A stronger U.S. Dollar added pressure to the price of gold by making it more expensive for overseas buyers. As of 0921 GMT, spot gold dropped 0.6% to $4.427.28 per ounce. U.S. Gold Futures for February Delivery fell 0.6% to $4435.40. "Gold and Silver remain under pressure, as the annual commodity index rebalancing begins. In the next five business days, COMEX metal futures may see sales in the region of $6-$7 billion. This is according to Ole Hansen of Saxo Bank, who heads commodity strategy....