Latest News
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The IEA predicts that Europe will import record amounts of LNG in 2026.
The International Energy Agency announced on Friday that a record amount is expected to be imported by Europe of liquefied gas in this year, with the global supply also set to increase. Since Russia invaded Ukraine in 2022 the European Union has tried to reduce its dependence on Russian energy. It has also increased imports of LNG, especially from the United States. The IEA's Gas Market Report for the quarter of 2026 showed that Europe will import a record 185 bcm?of LNG, up from a prior record?175 bcm?in 2025. The agency forecasts that global LNG supply will grow by?more? than 7% between?2026 and?2027, at its fastest rate since 2019. North America is expected to account for the majority of this 40 bcm growth, it said. North American projects will dominate new capacity by 2025. Global LNG supply is expected to rise almost 7%. The report stated that the United States was at the forefront of investment, having approved?over 80 billion cubic meters of annual capacity. Keisuke adamori, Director of Energy Markets & Security at the IEA, said that "the LNG wave" would play a key role in shaping global gas markets. He added that it was likely to pressure prices down while improving market liquidity. The IEA reported that natural gas trading volumes, and?hub liquid?ity in all?major markets will reach record highs by 2025. Gas volumes traded in the United States on Henry Hub increased by 8%. In Europe and Britain, they grew by 17%. According to the IEA, geopolitical risk and weather conditions are still significant factors in global gas markets. This requires continued energy security vigilance. (Reporting by Susanna Twidale, editing by PhilippaFletcher)
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Denmark and NATO are seeking to enhance Arctic security in the wake of Greenland Crisis
Mette Frederiksen, the Danish Prime Minister, said that she agreed with NATO chief Mark Rutte on Friday that the alliance needed to increase?security in Arctic after weeks of turmoil about?U.S. President Donald Trump has threatened to annex Greenland. Denmark and Greenland (a Danish autonomous territory) insist on the sovereignty of the island. Discussion not open They have stated that they are willing to talk about a variety of other topics. Trump claimed on Thursday that he had You can also find out more about Greenland will have permanent and total U.S. entry after talks with Rutte. NATO Chief Allies will have to increase their efforts in order to ward off the threats of Russia and China. "We agree with the idea that NATO should increase its engagement in the Arctic. Frederiksen stated in a Friday social media post that the alliance must be involved in ensuring the security and defense of the Arctic. She also posted a picture with Rutte. Rutte stated that he worked with the Danish leader on enhancing deterrence, defence and security. Frederiksen is scheduled to travel to Greenland’s capital Nuuk on Friday evening to meet with the island's premier. The Danish Foreign Minister said that diplomats of Denmark and the United States met in Washington, Thursday. They had established a plan on how to proceed. We will not communicate the dates of those future meetings, as we want to remove all drama from?this... and have a calmer process," said Foreign Minister Lars Lokke Rasmussen. Sources familiar with the issue said that Rutte, Trump and Greenland had agreed in Davos to continue talks on updating the 1951 agreement that governs U.S. access and presence on this Arctic island. Reporting by Soren Jacobsen and Stine Jeppesen in Copenhagen. Editing by Terje Solsvik & Toby Chopra
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Officials and youth groups say that seven miners were killed in Nigeria's restive Plateau by a group of young men.
A local youth group and a state representative?both said?on Friday that seven people were killed in an overnight shooting attack at a mining site in Nigeria's Plateau state. Plateau is part of a group of ethnically and religiously diverse hinterland countries known as Middle Belt. In recent years, communal conflict has led to the deaths of hundreds. Violence is often portrayed as an?ethnoreligious conflict' between nomadic Muslim farmers and predominantly Christian herders. The Berom Youth Moulders' Association (BYM), a group of Berom youth sculptors, said that the victims were killed late Wednesday as part of what they described as a series of coordinated attacks on Berom communities. Could not confirm independently who was behind the attack. Emmanuel Solomon, a senior adviser to the Plateau Governor, confirmed that seven people were killed in the attack. Plateau police declined to comment immediately, but a spokesperson from Operation Safe Haven in the state said that troops found seven bodies at the scene and spent cartridges, adding that victims were miners who remained on the site despite the ban on nighttime mining. Donald Trump, the U.S. president, has stated that Nigerian Christians have been persecuted in record numbers and are killed. He launched an airstrike against suspected perpetrators a month ago. The Nigerian Government denies there is "systematic persecution" of Christians, but claims it is fighting Islamists and violent groups who have targeted both Muslim and Christian civilians for ransom.
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Adani shares drop after US SEC tries to bypass Indian Government to serve summonses
The shares of India's Adani Group firms fell between 2% and 11 % on Friday, after the U.S. market regulator requested permission from a court to email personal summonses to founder Gautam Adani as well as group executive Sagar Adani regarding alleged fraud and $265 million in bribery. Adani Enterprises' flagship company fell as much as 9.1%, to 1,890.23, the lowest level since May 19, 2023. India's Nifty 50 index fell 0.94%. Since last year, the SEC has tried to summon billionaire Gautam Adani and his nephew Sagar in a high-profile U.S. legal case involving an Indian conglomerate. According to SEC filings, India had previously refused to serve summons on two occasions. The indictment was unveiled in November 2024 and accused Adani executives of participating in a scheme that involved paying bribes for the purchase of electricity by Adani Green Energy - a unit of Adani Group. Adani Group has labelled the allegations as "baseless", and said that it will seek "all legal recourse possible" to defend itself. It did not respond immediately to the'request for comment? on the latest filing dated 21 January. The shares of the green power unit dropped as much as 13 % on Friday. Urvi Dugar, Bengaluru Reporter; Mrigank Dhaniwala, Editor
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Holt, the new nuclear boss, will replace Babcock's CEO who is retiring this year.
Babcock, a British company, announced that its chief executive David Lockwood will retire at the end of the year 2026. Harry Holt, the former?Rolls Royce executive who heads the nuclear division of the company, is his successor. Lockwood was'responsible' for a turnaround of Babcock, which maintains Britain’s naval fleet and provides weapons systems, as well as supporting nuclear power projects during his five-year term, strengthening operations in order to drive profit growth. Babcock announced on Friday that Holt was a "chosen candidate after extensive searching" and cited improved performance from the nuclear unit. Holt is a British Army officer who, before working for Rolls-Royce, had a strong relationship with the Ministry of Defence. Babcock earns a significant?part of their?revenues. Lockwood stated, "It's been my privilege to be the leader of Babcock during a time that saw the COVID Pandemic, geopolitical turmoil around world and heightened focus on global safety." Babcock shares have increased by nearly 600% in the past five years. Lockwood's turnaround coincided both with the beginning of the Ukraine War and a period when governments have boosted defence spending due to geopolitical tensions. The company said that it is confident in meeting its growth targets by 2026, and added that the 'current forecasts could change depending on when an event occurs. Indonesian deal In November, Britain and Indonesia signed a deal worth 4 billion pounds ($5,40 billion), led by Babcock. The agreement aims to develop a maritime capability that will benefit the country's fishing and navy fleets in Southeast Asia.
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Wall Street Journal, January 23, 2019.
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch for the accuracy of these reports. - ?U.S. On Thursday, President Donald Trump sued JPMorgan Chase CEO Jamie Dimon and the bank for $5? President Donald Trump sued JPMorgan Chase and CEO Jamie Dimon for $5? TikTok finalized a deal with Oracle, Silver Lake, and MGX, each holding 15% stakes, and ByteDance, less than 20%. As a major winter storm threatens to cause power outages this weekend, the U.S. Energy Department?ordered? grid operators to tap into backup data power at centers and other facilities. The Trump administration has fired two Commerce Department officials who were tasked with protecting the U.S. against Chinese technology advances. This is the latest removal of personnel focusing on national security issues tied to Beijing. Former Special Counsel Jack?Smith has told lawmakers that he expects Trump to prosecute him, and that Justice Department officials will?follow the president's instructions. - ?U.S. Vice President JDVance is at the centre of a conflict between federal and municipal officials regarding immigration enforcement. He has called for greater cooperation with ICE, and blamed Minneapolis officials for their refusal to allow local police assistance.
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Copper rises after Chilean mine strike
Copper prices rose on Friday, after Capstone Copper announced that a workers’ strike forced a production?halt at the Mantoverde Mine in Chile. The most traded copper contract on the Shanghai Futures Exchange closed daytime trade up 0.64% at 101,340 yuan ($14.553.65) per metric ton but ended the week lower by 0.52%. As of 0700 GMT, the benchmark three-month Copper on the London Metal Exchange had gained 1.30% and was expected to finish the week with a gain of 0.93%. The strike was triggered after Capstone and the largest union of mine workers failed to reach an agreement on collective bargaining. The company said on Thursday that a takeover began at the mine's desalination facility last Sunday. This led to disruptions. It was predicted that the mine would produce between?29,000 to 32,000 metric tonnes of copper cathodes by 2025. Freeport-McMoRan, a copper miner, said Thursday it expects about 85% - of production to be back online at its flagship Grasberg Mine, the second-largest copper mine in the world, by the'second half of the year. In October, a deadly mudflow shut down the mine and killed several workers. This sparked supply concerns and triggered a copper rally. The dollar index registered its biggest one-day fall in six weeks on Thursday, making greenback-denominated commodities cheaper for investors using other currencies. Greenland fears also diminished after U.S. president Donald Trump reversed his tariff threats and said that he would not take over the island with force. Tin and?nickel topped the charts on the London and Shanghai stock exchanges. Indonesia's recent decision to?reduce nickel ore mining quotes for 2026, as well a military-backed crackdown against illegal mining activities continued to unnerve?industry. The Shanghai nickel rose 3.99% to 148.010 yuan, while the most active tin on SHFE increased by 4.60%. The London benchmark for tin increased by 3.71%, to $53,800 per ton. Nickel rose by 3.94%, to $18,705. Aluminium, zinc and lead are among the other SHFE base materials that have seen a rise. LME Aluminium gained 0.40%. Zinc rose 0.87%. Lead was up 0.30%.
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After years of negotiations, India and the EU have reached a free trade agreement. What has been agreed?
India and the European Union have been working on a free trade agreement for years. An announcement is expected to be made at the India-EU Summit, which will take place in New Delhi on Tuesday. The following are the key elements of a trade agreement: RATIFICATION & IMPACT The pact, once signed and ratified, could increase bilateral trade and lift Indian exports, such as textiles and jewelry, which are currently subject to 50% U.S. duties since August. The fact that EU legislators voted earlier this week in favor of challenging the EU-South America Pact before the top court of the EU highlights the potential for parliamentary obstacles to delay or complicate the ratification. Separately, investment protection and geographic indications (GIs), are being negotiated, focusing the FTA on goods, services, and trade rules. WHY IT MATTERS NOW This would be India's ninth trade agreement in just four years. It reflects New Delhi's efforts to gain market access at a time when global trade is becoming more protectionist. The EU benefits from the deal because it diversifies supply chains and reduces dependence on China while also tapping India's $4.2 trillion fast-growing economy. INDIA GAINS GROWTH India is India's largest trading partner, along with the United States, China and the EU. Bilateral goods and service trade will exceed $190 billion by 2024/25. India exported $76 billion worth of goods and $30 in services to the 27-nation group. According to Global Trade Research Initiative (a Delhi-based think-tank), the average EU tariffs for Indian goods is relatively low, at around 3.8%. However, labour-intensive industries such as textiles and clothing face duties of up to 10%. The FTA will help to restore the competitiveness that was lost when the EU started withdrawing tariff concessions from the Generalised System of Preferences in 2023. This includes garments, pharmaceuticals, and machinery. It will also offset the impact of increased U.S. Tariffs. India also seeks to export IT services and professionals. GAINS FOR EU Exports of EU goods to India will face higher tariffs, with an average weighted tariff of 9.3% for $60.7 billion worth of?goods by 2024/25. Automobiles, auto components, chemicals, and plastics are subject to the highest duties. Tariff reductions would create opportunities for cars, chemicals, aircraft, machinery and other products, as well as improving access to services and procurement in one of the world's largest and fastest-growing markets. Key Sticking Points Agriculture and dairy products are excluded. India has resisted EU demands that it eliminate tariffs on over 95% of goods. It is now closer to 90%. Automobiles, wine and spirits are still sensitive. India may opt for a gradual reduction in tariffs or limited quotas instead of a sharp one, citing the risks to its domestic manufacturing. SERVICES AND RULES India wants to be "data-secured" under EU data regulations, and for professionals to move more easily. New Delhi is more flexible in areas such as labour, environment, and intellectual property. The EU wants to expand access to India's legal and financial services. INDIA'S RUBY FLAGS The EU's border carbon levy could reduce the gains in tariffs for Indian exporters. Other concerns include high non-tariff obstacles such as regulatory delays and stringent standards, and certification costs. What is next? Analysts claim that geopolitics, trade shocks and other factors have forced both sides to a pragmatic compromise. The pact's ability to deliver balanced gains depends on the final handling of carbon levies and other non-tariff barriers. (Reporting and editing by Jacqueline Wong; Manoj Kumar)
Indian Oil replaces Russian crude with oil from Angola and Brazil as well as the United Arab Emirates, according to sources
Indian Oil Corp, the top refiner in the country, has purchased 7 million barrels from Petrobras and other suppliers for loading in March to replace Russian oil.
Indian refiners have re-calibrated their strategies in order to move away from Russia as the top supplier and increase imports from the Middle East. This could help New Delhi to clinch a deal with the United States for lower tariffs.
Sources said that the refiner purchased 2 million barrels Upper Zakum and 1 million barrels Murban from Shell. IOC also purchased 1 million barrels of each Angola Hungo and Clove grade from Exxon.
IOC also "bought" 2 million barrels of Brazil's Buzios crude oil from Petrobras, according to the sources. The contract is optional and allows for flexibility in negotiating a deal on mutually agreeable terms.
Prices were not available immediately.
Due to confidentiality agreements, oil buyers and sellers usually do not comment about such deals.
Trade data showed that India's Russian imports of oil fell to the lowest level for two years in December. Meanwhile, imports from OPEC countries rose 11 months.
India became the largest buyer of discounted Russian crude oil after the start of the Ukraine War in 2022. However, refiners in the country reduced their Russian oil purchases in October following harsher Western sanctions against Russia's leading producers.
IOC purchased Ecuadorean Oriente crude for the first and only time last month. It did this under an option supply agreement with Ecopetrol, the state oil company. (Reporting and editing by Jamie Freed; Siyi Liu, Nidhi Verma)
(source: Reuters)