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Energy Markets

Fossil Fuels

Fossil Fuels

Financial Times - May 6

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Headlines US coal producer Peadbody has threatened to end deal with Anglo American Eutelsat names a new CEO as Starlink's rival in Europe seeks funding Credit Suisse will pay $511 Million for helping wealthy Americans to hide over $4 Billion Santander earns 7 billion Euros from Poland sales View the full article Peabody Energy has said that if it is not satisfied with the resolution of issues surrounding Anglo American's Moranbah North Mine, then...

Fossil Fuels

MORNING BID EUROPE - Bright signs from Beijing and bad omens for Apple

Ankur Banerjee gives us a look at what the future holds for European and global markets The possibility of a de-escalation in trade tensions between Beijing, Washington and other countries provided a boost to the markets on Friday. It boosted risk sentiment and lifted stocks worldwide just as Apple's earnings reminded investors of the true cost of a trade war. China's Commerce Ministry stated that Beijing is "evaluating" Washington's offer to hold discussions over President Donald Trump's tariffs of 145% and that Beijing's doors are open for discussion. China also said that Washington should show "sincerity in negotiations" and be...

Fossil Fuels

Elche's stadium cleanup act bans sunflower seeds snacks

Elche, a Spanish club, has decided to break tradition and ban the sale and consumption sunflower seeds on their own ground. Cleaning up the shells that fans spit led to higher costs and unhygienic situations. Elche plays its home matches at the 31 388-capacity Estadio Martinez Valero, but the popular Spanish snack known as 'pipas" will no longer available to match-going fans. Elche has described the recent "structural problems" that have resulted from eating sunflower seeds. Elche stated in a press release that "the shells clog pipes and drains, they degrade the seats and damage the paint and finishes on...

Fossil Fuels

Companies count the costs of blackouts in Spain and Portugal

Business associations and companies started counting the costs as factories, hotels, and stores in Spain and Portugal slowly returned to normal after the massive blackout of the previous day. CEOE, the main Spanish business lobby, estimated that the outage could shave off 1.6 billion euro ($1.82 billion) or 0.1% of gross domestic product. They noted it would take a week or longer for oil refineries to fully resume their operations, and some industrial ovens were damaged. The meat industry estimates losses up to 190 millions of euros due to the loss of power in fridges, among other things. In some...

Oil & Gas

Petrobras Board approves agreement with Unigel for fertilizer plants

Petrobras, the state-run Brazilian oil company, said that its board of directors had authorized it to sign a settlement agreement with Unigel Chemical Company to settle a legal dispute over two fertilizer factories in northeastern Brazil. Petrobras stated in a filing of securities that the agreement would restore Petrobras ownership over two fertilizer factories located in Sergipe state and Bahia state. Petrobras announced that the plants would resume operations after a process of bidding to contract for services to operate and to maintain them. The deal, however, still needs to be approved internally within Unigel, and it must also meet...

Fossil Fuels

UK energy regulator to reject penalty exemptions for National Grid and SP Energy joint venture

Ofgem, the British energy regulator, said that it did not think an electricity transmission project by National Grid Electricity Transmission & SP Energy Networks qualified to be exempted from penalties related delays. A joint venture between National Grid units and Iberdrola, a Spanish company, had asked for a 480 day exemption from penalties in relation to delays in the completion of the Eastern Green Link 1 due to global supply-chain issues and capacity shortages. The project includes subsea cables and underground cables that link Scotland with north-east England. It is an important part of Britain’s goal to decarbonise the electricity...

Fossil Fuels

Repsol will be protected by the government, says Spain's foreign minister

Spanish Foreign Minister Jose Manuel Albares announced on Monday that his government will defend the interests the Spanish oil company Repsol, after sources close to U.S. president Donald Trump claimed his government would revoke licenses granted to oil firms operating in Venezuela. Albares told Tele 5 that he had spoken to the CEO of Repsol and they were discussing and analysing their decision. He said: "We shouldn't rush until we have all the information about this decision. We need to know what it means, how it will affect us and the room for dialogue that exists in order to resolve...

Fossil Fuels

What are the major pressure points in the US-Venezuela relationship?

The United States and Venezuela have a stuffed current history marked by damaged diplomatic relations, sanctions and allegations of criminal activity and coupplotting. U.S. President Donald Trump - who during his very first term used a maximum pressure sanctions policy against President Nicolas Maduro - referred to Maduro as a totalitarian throughout the 2024 U.S. campaign. The administration of former U.S. president Joe Biden reinstated broad oil sanctions in April after it stated Maduro failed to keep guarantees for a totally free election. It likewise imposed targeted sanctions on lots of authorities and increased rewards for the capture or conviction...

Power Markets

Spain's production rates rise 2.3% in 2024 from a decline in 2023

Energy costs lifted Spanish production rates in 2024 following a contraction in the previous year, the National Statistics Institute (INE) said on Friday. Production rates increased 2.3% last year after a 6.3%. decrease in the previous year, when energy rates fell from a. peak in 2022 triggered by the war in Ukraine, INE stated in its. regular monthly report. Rates of oil, gas and electrical power increased 7.5% in Spain in. 2024 after contracting by 20.6% in 2023, INE stated. Following chaos on energy markets in 2021 and 2022. triggered by the COVID pandemic and then the start of the...

Fossil Fuels

Brazil's Petrobras to present deal to Unigel to resume control of leased fertilizer plants, sources state

Brazil's staterun oil company Petrobras is near a deal that would permit it to resume management of 2 fertilizer plants in the northeast of the nation that had actually been leased to chemical firm Unigel, two sources with knowledge of settlements told Reuters. Under the brand-new arrangement, Petrobras would manage the plants, while Unigel would be worked with to run them and offer maintenance for 5 years, stated the sources. It was not immediately clear just how much Petrobras would spend for the services. Unigel has actually already agreed to the deal, but Petrobras' management is awaiting a report by...

Fossil Fuels

Stellantis, China's CATL to invest $4.33 bln in EV battery factory in Spain

Stellantis and Chinese battery maker CATL will invest 4.1 billion euros ($ 4.33 billion) in a factory making electrical vehicle batteries in Zaragoza in northern Spain, they said in a. declaration on Tuesday. They have set up a 50-50 joint venture for the job and. expect to start production by the end of 2026. The capability at the plant might reach 50 gigawatt hours,. depending upon the advancement of the market for electric lorries. in Europe and on assistance from European and Spanish authorities,. they said. The endeavor would bring innovative battery production to a. producing website that is currently...

Oil & Gas

Brazil's federal government and banks in speak to take Novonor's Braskem stake, sources say

Brazil's federal government and numerous of its biggest industrial banks are dealing with a strategy to speed the divestment of engineering group Novonor's majority stake in Braskem, Latin America's biggest petrochemical company, according to six individuals acquainted with the talks. Novonor, which altered its name from Odebrecht after a major graft scandal almost a decade ago, has been checking out a sale for years but stopped working repeatedly to get a deal throughout the line. The group has actually been under pressure to disinvest because, at the height of the Car Wash corruption scandal, it installed its Braskem shares as...

Electric Utilities

Power Markets

Spain's grid denies that solar is to blame as a blackout blame game explodes

Spain's grid operator denied Wednesday that solar power was responsible for the country's biggest blackout. Prime Minister Pedro Sanchez, however, came under increasing pressure from his critics to explain what went awry. After a power failure that caused trains to stop, airports to close, and people trapped in lifts, Sanchez’s opponents blamed low investments in a system which increasingly relies upon intermittent solar and wind energy. Sanchez announced an investigation by the government and stated that he wanted answers from private companies who feed electricity into the grid. He said that he had not ruled out the possibility of a...

Electric Utilities

RWE is facing growing criticism from investors as the returns on renewable energy are declining

RWE's shareholders will increase the pressure on Germany’s top power company on Wednesday. They'll demand bolder measures to close a gap in valuation with competitors, including larger share buybacks or even a special distribution. The German utility is also the second largest developer of offshore wind farm in the world. It has come under increasing criticism for its capital allocation policy, most notably by activist investor Elliott. The U.S. investor disclosed last month a stake worth around 1.28 billion euro ($1.46 billion) and urged the group to increase its existing share buyback program by up to 1.5 billion euro. RWE...

Electric Utilities

Trades to Make Europe Great Again are gaining momentum

Investors are recognizing that a more independent and less U.S. dependent Europe is emerging. These opportunities go beyond simply buying defence stocks. There is good reason to be cautious, as the massive German expenditure on infrastructure and defence will not be felt for some time. Many are still playing the long-game. Mark Dowding is the CIO of RBC's BlueBay Fixed Income team. He said that MAGA trades have now replaced MEGA trades. MAGA trades had lost their appeal. Mark was referring to President Donald Trump's Make America Great Again campaign. DEFENCE FIRST The German fiscal expansion and the Brussels plan...

Mining

Mineral Resources

Mineral Resources

Euronext rebrands ESG to aid European defense firms

Euronext, the European exchange operator, announced on Tuesday a number of measures designed to encourage investment in the defence industry. These include helping companies list their shares on stock markets or launch new bonds more quickly. The move comes after a push by the Trump administration to reduce the reliance on U.S. weapons and increase investment in the sector. Stephane Boujnah, CEO and Chairman of Euronext, said that the company was responding to "a new geopolitical system" by renaming ESG, which is an acronym for Environmental, Social and Government-driven investments, as Energy, Security and Geostrategy. Euronext released a statement saying...

Mineral Resources

Source: Stellantis and Leapmotor prefer Spain for the production of B10 EV

The Chinese embassy in Spain reported that Stellantis, its Chinese partner Leapmotor and their Spanish plant plan to invest $200 million in the factory. A person with direct information on the matter had said Spain would be the best place for producing the B10 electric cross-over car for the European market starting in 2026. Both companies are looking for a location in Europe where they can produce the model that made its debut in Europe in September. Stellantis factories in Germany or Slovakia were also under consideration. The Chinese embassy stated that the factory in Zaragoza is where they intend...

Mineral Resources

Source: Stellantis and Leapmotor prefer Spain for the production of B10 EV

A person with first-hand knowledge of the situation said that Stellantis, along with its Chinese partner Leapmotor, considers Spain to be the best candidate for producing the B10 electric cross over on the European market starting in 2026. Both companies are looking for a location in Europe where they can produce the model that made its debut in Europe in September. Stellantis factories in Germany or Slovakia were also under consideration. The person who refused to be identified said that both firms have increased their efforts to procure more components from Spanish suppliers to qualify for government subsidies at the...

Mineral Resources

India's April to January finished steel imports from S. Korea, China and Japan reached record high

According to preliminary government data, seen on Tuesday, India's finished-steel imports from China and South Korea, as well as Japan, reached a record in the first ten months of this financial year. India, which is the second largest crude steel producer in the world, reported that it was a net steel importer and shipped record amounts of finished steel between April and January. The data revealed that South Korea imported 2.4 million tons of finished steel, an increase of 11.7% over the previous year. South Korea was India's largest exporter of this alloy during that period. The total amount of...

Mineral Resources

Wall Street prepares for possible fallout when Trump tariffs against Canada and Mexico are near

The Trump administration has delayed the implementation of new tariffs against Mexico and Canada for a month. The reprieve will end on Tuesday. The U.S. Commerce secretary Howard Lutnick confirmed that the tariffs against Canada and Mexico will take effect on February 2. Donald Trump, however, will decide if the proposed tariff rate of 25% is maintained. Canada exports mainly crude oil, other energy products and cars and car components as part of North American auto manufacturing chains. Mexico exports a variety of goods from the auto and industrial sectors. What top brokerages say about the impact of tariffs on...

Mineral Resources

Europe stocks continue record run on defence sector boost

The European share market reached a new high on Tuesday, as defence stocks rose on the prospect of higher military spending in the area. However, a Capgemini led drop in IT shares capped the gains. The STOXX 600 pan-European index rose by 0.2%, to a new record of 555.42. The aerospace and defense index jumped 1%. After European Commission President Ursula von der Leyen announced that the Commission would propose an exemption for defense spending from EU budget limits, the sector grew by 4.6% Monday. This is its largest one-day increase since Russia invaded Ukraine, in February 2022. Defense stocks...

Mineral Resources

Take Five: the big Trump tariff countdown

The deadline for President Donald Trump to impose tariffs is fast approaching, while the U.S. releases data on jobs and the markets gauge the new AI landscape before major tech companies report. Bank of England is deciding on interest rates, and lenders across Europe are also publishing their results. Kevin Buckland, Saqib Ahmad, Lewis Krauskopf, and Amanda Cooper, in London, provide a guide to global markets for the coming week. 1/T DAY Everyone wants to know the severity of Trump's tariffs. From currency traders and bond investors to Fed officials and other foreign powers. Trump's promise to impose 25% tariffs...

Mineral Resources

European carmakers stocks fall after Trump's inauguration

Shares in some big European carmakers fell sharply on Tuesday on unpredictability over possible new tariffs after Donald Trump took office as U.S. President. Trump did not right away enforce tariffs as previously assured however stated he was thinking about enforcing 25% tasks on imports from Canada and Mexico on Feb. 1 over prohibited immigrants and fentanyl crossing into the United States. European carmakers such as Stellantis and Volkswagen have centers in Mexico which produce cars and trucks for the U.S. market. Stellantis shares fell around 2% by 0813 GMT, while the broader European vehicle sector was down around 1%,...

Mineral Resources

Venezuela AG requests Interpol red notice for opposition's Leopoldo Lopez

Venezuela attorney general of the United States Tarek Saab said on Monday his office has actually asked for an arrest warrant and Interpol red notification versus opposition figure Leopoldo Lopez, who spent years in detention in Venezuela and has actually lived in Spain given that 2020. Lopez has actually slammed the federal government in current days amidst opposition protests to President Nicolas Maduro's third inauguration. Lopez stated on X on Saturday that a proposal from former Colombian President Alvaro Uribe that military intervention was required in Venezuela ought to be seriously. considered. Maduro was sworn in for another six-year term...

Mineral Resources

STOXX 600 muted ahead of inflation data, eyes very first monthly gain in 3

Europe's STOXX 600 opened on a soft note on the final day of an unstable week, with financiers assessing France's political uncertainty and awaiting euro zone inflation data to see if a larger European Reserve bank rate cut is on the cards for December. The pan-European main stock index was flat at 0815 GMT, bracing for its 5th weekly decline in six. The index was still on track for a modest month-to-month gain in three, even though the possibility of Europe being a U.S. tariff target and France's political problems have actually dampened investor belief towards the bloc, to name...

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...

Mineral Resources

Heidelberg Products buys US firm Giant Cement for $600 mln

Heidelberg Materials has actually struck an offer to buy U.S. business Giant Cement Holding and its subsidiaries for $600 million, it said on Thursday, the current acquisition by the German company to expand its grip in the United States. The deal, to be finished in the first quarter of 2025, is expected to contribute around $60 million in incomes before interest, taxes, devaluation and amortisation (EBITDA). in the first year of operation, before significant additional. synergies, Heidelberg stated in a declaration. The acquisition ... will even more enhance our cement. footprint in the growing Southeastern U.S. and New England. markets,...