Mexico’s $20 billion Olmeca (more commonly known as Dos Bocas) refinery was built to be the centerpiece of the country’s drive for energy independence, but three years after its launch, the flagship project is struggling to deliver. Designed to process the country’s heavy Maya crude and reduce reliance on fuel imports, the refinery has faced repeated outages, logistical bottlenecks, and underwhelming output. Instead of easing Pemex’s financial burden, it risks deepening the company’s dependence on government support…

Farmers in Pakistan are replacing diesel-fueled pumps with solar energy to power the typical irrigation technique in a large part of the world’s fifth most populous country. Many farmers rely on the so-called tube wells—a water well and a motorized pump to take water from groundwater. Amid soaring diesel prices and unreliable electricity supply in recent years, more farmers are installing solar panels to help them with crop irrigation. The solar-powered tube wells provide smoother irrigation. Solar panels have steep upfront costs for…

As several governments aim to battle climate change by shifting away from fossil fuels and pursuing a green transition, many are revisiting a long-overlooked energy source – nuclear power. Nuclear power was at the top of many countries’ energy agenda for several decades before a few notable nuclear disasters shifted the public perception of the clean energy source, and several governments halted development for years. Now, as studies show that nuclear power is one of the safest forms of energy, so long as strict oversight mechanisms…

Latin America is emerging as a global hub for data center construction as Big Tech floods the region with new projects to power the AI boom. The “industrial sunbelt” spanning across Brazil and Mexico, plus the geopolitical advantage of nearshoring and the great potential of the Latin American tech sector, has led Silicon Valley to invest heavily in data centers spanning from North to South America.  It’s estimated that large data center firms invested more than USD $2 billion in Latin America in 2024 alone, and that rate…

Norway is looking to launch a domestic electric plane service to replace the dozens of daily fossil-fuelled flights to its many islands. If successful, this could encourage other countries to launch similar domestic services. This follows successful test runs of various electric flights in several countries that signal a new era of electric flight in the coming years, although the commercial rollout of electric passenger planes may still be several years away. In September, Norway conducted a pilot flight of its electric-powered Alia CX 300, making…

Billions of dollars are flowing into cutting-edge nuclear technologies, from nuclear fusion experiments to small modular reactors and microreactors that backers say will catalyze a global nuclear power renaissance. But after years of buzz and successful funding rounds, these Wall Street darlings have yet to send any of their promised carbon-free energy to the grid.  In 2024, investments in advanced nuclear companies from both private equity and venture capital hit an all time high. According to S&P Global, last year's investments “surpassed…

Curtailment has become a very relevant issue in Brazil as renewable penetration grows. In short, curtailment is the forced reduction of renewable generation, which typically occurs when there is too much intermittent generation on the grid and insufficient transmission infrastructure. Operators are then required to shut down units to balance the system. The main drivers are transmission bottlenecks, operational restrictions related to grid stability and reliability and localized oversupply. We can split these into two major categories: infrastructure…

Copper futures on the London Metal Exchange rose above $10,500 a ton - the highest since May 2024 - driven by a mix of investing themes, macro tailwinds, and worsening supply outlook.  Freeport-McMoRan's (FCX) recent force majeure declaration at Indonesia's giant Grasberg mine, the world's second-largest copper source, adds to mounting disruptions already squeezing the market. Add growing demand from AI data centers and grid upgrades, and the shiny industrial metal looks poised for further upside. Last week, Goldman's commodity specialist…

Saudi Arabia’s grand Vision 2030 ambitions may be colliding with a colder fiscal reality. Fitch Ratings warned Friday that Riyadh faces rising financial risks as oil prices soften and government spending balloons, threatening the kingdom’s plans for fiscal consolidation. The numbers tell the story: Saudi Arabia now expects a budget deficit equal to 5.3% of GDP in 2025—nearly double its original 2.3% forecast—before narrowing to 3.3% in 2026. The deterioration comes largely from weaker oil income, Fitch said, with non-oil…

Once upon a time the promise of Net Zero enjoyed such universal support that a Tory government signed the UK’s Net Zero pledge into law. Today, the Tories say they’d scrap it – while alarm bells are ringing as the costs of the policy become clearer. In June 2019, Prime Minister Theresa May passed a law – with near unanimous parliamentary backing and pretty much no debate – committing the UK to achieve Net Zero by 2050.  She hailed the move as a “historic step” that would make the UK the first major…

The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday. The total rig count in the US stayed the same at 549 according to Baker Hughes, down 36 from this same time last year. The number of active oil rigs fell in the week, according to the data, to 422. Year over year, this represents a 57-rig decline. The number of gas rigs rose by 1 to 118 active rigs, which is 16 over this time last year. The miscellaneous rig count rose by 1 to 9. The…

Reuters and its anonymous sources are again stirring the oil market. This time, the wire says OPEC+ is preparing another supply hike in November, with Saudi Arabia pushing for something big and Russia urging restraint. But if recent history is any guide, a report of rising quotas doesn’t necessarily translate into rising barrels—and OPEC is getting increasingly irritated with the narrative. According to Reuters’ unnamed insiders, Riyadh wants an increase of 274,000 to as much as 548,000 bpd, while Moscow is said to prefer another…

Reuters and its anonymous sources are again stirring the oil market. This time, the wire says OPEC+ is preparing another supply hike in November, with Saudi Arabia pushing for something big and Russia urging restraint. But if recent history is any guide, a report of rising quotas doesn’t necessarily translate into rising barrels—and OPEC is getting increasingly irritated with the narrative. According to Reuters’ unnamed insiders, Riyadh wants an increase of 274,000 to as much as 548,000 bpd, while Moscow is said to prefer another…

Oil prices saw a small recovery on Friday morning after a continued selloff this week. Friday, October 3, 2025An 8% weekly loss is a rare occurrence in oil markets, especially if it comes on the back of five straight daily declines. Even though Friday’s trading has shown a marginal recovery with ICE Brent edging closer to $65 per barrel, however it seems that Sunday’s OPEC+ meeting could prompt further price declines in case members agree to expedited production unwinding. Amidst a US government shutdown and record year-to-date high…

Uzbekistan has announced a new batch of energy-related deals with US companies collectively worth upwards of $4 billion.  Uzbek Energy Minister Jurabek Mirzamakhmudov told the Uzbekiston 24 TV channel that the government has signed a series of agreements with Pennsylvania-based Air Products to accelerate the Central Asian nation’s “green transition.”  According to the company’s website, Air Products aims “to generate a cleaner future” by serving a “broad range of industries, including…

Shares of USA Rare Earth (NASDAQ: USAR), which looks to develop a domestic rare earth magnet supply chain, surged by 23% late on Thursday and another 14% in pre-trade on Friday after the company’s chief executive said USA Rare Earth is in “close communication” with the White House.  The Trump Administration is increasingly looking to have a direct equity involvement in America’s critical minerals supply chain, in the race to close the gap with the world’s dominant holder of supply of critical metals and rare earth…

Shares of USA Rare Earth (NASDAQ: USAR), which looks to develop a domestic rare earth magnet supply chain, surged by 23% late on Thursday and another 14% in pre-trade on Friday after the company’s chief executive said USA Rare Earth is in “close communication” with the White House.  The Trump Administration is increasingly looking to have a direct equity involvement in America’s critical minerals supply chain, in the race to close the gap with the world’s dominant holder of supply of critical metals and rare earth…

Shares of USA Rare Earth (NASDAQ: USAR), which looks to develop a domestic rare earth magnet supply chain, surged by 23% late on Thursday and another 14% in pre-trade on Friday after the company’s chief executive said USA Rare Earth is in “close communication” with the White House.  The Trump Administration is increasingly looking to have a direct equity involvement in America’s critical minerals supply chain, in the race to close the gap with the world’s dominant holder of supply of critical metals and rare earth…

Shares of USA Rare Earth (NASDAQ: USAR), which looks to develop a domestic rare earth magnet supply chain, surged by 23% late on Thursday and another 14% in pre-trade on Friday after the company’s chief executive said USA Rare Earth is in “close communication” with the White House.  The Trump Administration is increasingly looking to have a direct equity involvement in America’s critical minerals supply chain, in the race to close the gap with the world’s dominant holder of supply of critical metals and rare earth…

Kazakhstan backs the OPEC+ group’s decision to reverse part of the production cuts, Kazakh President Kassym-Jomart Tokayev said on Friday.  “The president has emphasized Kazakhstan's support for the decision by OPEC+ to gradually increase oil production volumes, prioritizing the protection of national interests,” Tokayev’s press service said in a statement, after the president met with OPEC Secretary General Haitham Al Ghais.  Non-OPEC producer Kazakhstan is part of the OPEC+ agreement, but it has been overproducing…