West Texas Intermediate futures spiked as much as 1.5% from their settlement price after Trump made the comments to reporters at the White House. The gain just as quickly evaporated after he said he will decide later tonight on whether to include oil in the tariffs. WTI traded at $73.06 a barrel at 4:10 p.m. in New York.
The government fleshed out the goal Prime Minister Keir Starmer announced at the COP29 summit in November, touting its credentials as the first Group-of-Seven country to phase out coal, its phaseout of new cars relying solely on the combustion engine by 2030 and its policy of not issuing new oil and gas exploration licenses.
MTR Carbon Capture said in a media release it will install its Polaris membrane carbon capture system at TSMC’s Taichung Zero-Waste Manufacturing Center by the end of 2025. This project will showcase the effectiveness of MTR’s clean membrane capture technology by reducing carbon emissions from TSMC operations, it said.
Resilient refining throughput and increased earnings in the renewable diesel division helped Valero post an earnings beat for Q4, even as its adjusted earnings per share plunged to $0.64 from $3.57 EPS for the same period of 2023.
Global investments in green energy solutions topped $2 trillion last year, for the first time ever, but the world needs to pour in $5.6 trillion each year into low-carbon energy to get on track for global net zero by 2050, in line with the Paris Agreement, BloombergNEF said in a new report on Thursday.
Russia pumped 2.8% lower volumes of crude oil and condensate in 2024 from a year earlier, while its natural gas production rose by 7.6%, Russian Deputy Prime Minister Alexander Novak wrote on Thursday in the energy ministry’s in-house magazine.
Oil traders are making big moves in the Brent-Dubai spread, a contract that lets them bet on the price gap between Middle Eastern crude and global benchmark Brent. The action has hit record levels, thanks to U.S. sanctions on Russian oil that are forcing buyers to look elsewhere for supply, with the situation presenting a lucrative opportunity for traders willing to play.
Last year, Petrobras lowered capital expenditure (capex) for 2025 to $17 billion from an earlier estimate of $21 billion. According to the company, the lower capex is more realistic and in line with its financial wherewithal. In its latest strategic plan, Petrobras plans to invest $102 billion in the 2024-2028 period, good for a 31% increase over the previous plan amid pressure from President Lula for the firm to ramp up investments in a bid to prop up the country’s economy and generate local jobs.
Russia’s oil shipments via the Baltic Sea declined 10% over the final four months of 2024 due to the impact of EU sanctions against Russian oil and gas exports, the Finnish Border Guard has reported. Finland’s Coast Guard monitors the shadow fleet that Russia uses to export crude via the Gulf of Finland.
The General Manager, Corporate Affairs, WAPCo, Dr Issac Adjei Doku, announced these on Wednesday, when he conducted journalists round the Takoradi Regulatory and Metering Station, at Aboadze in the Western Region, where preparatory works are ongoing ahead of a major maintenance on the offshore pipelines.