Rodrigo Paz, the centrist senator who won the presidential election in Bolivia last month, was sworn in this weekend and immediately set to work to undo the policies of 20 years of nearly-uninterrupted socialist rule. In the first round of the presidential election on 17 August, the left-wing Movimiento al Socialismo (MAS) suffered a historic defeat after nearly two decades in power. MAS nominee Eduardo del Castillo won only about 3% of the vote, while right-leaning Quiroga secured 27% and the more centrist Paz won 32%. Paz, who defeated conservative…

The energy transition faces the biggest challenge yet as a global backlash against renewable energy – spearheaded by U.S. President Donald Trump – is gaining momentum, according to two of the European pioneers of wind turbine design. President Trump’s views on wind energy and climate change are extreme, but they are symptomatic of a global shift in the perception of the need for and benefits from the energy transition, say Henrik Stiesdal and Andrew Garrad, a Dane and a Brit, who are often referred to as the “Godfathers…

After decades of funding major infrastructure projects with state money, the Chinese government has zeroed in on private capital as a source of fresh cash for big projects in everything from transport to energy, to power generation, and drones. In a new policy presented earlier this week, Beijing signaled private capital is now welcome in hydropower, nuclear power, oil and gas pipelines, and water supply, media reported, citing government officials. “Private investment serves as a key barometer reflecting economic vitality and plays a crucial…

The global energy storage sector is heating up to be “clean energy’s next trillion-dollar business.” As more nations around the world become increasingly reliant on renewable energies to power their grids and the AI boom pushes clean energy expansion as part of an all-the-above approach to ramping up energy production as fast as possible, energy storage is becoming an increasingly critical component of energy security at local, national, and global scales. Researchers have estimated that a net-zero energy future will require a…

Well, someone important finally said it. Craig Albert, head of construction firm Bechtel, credited by the Financial Times for “rescuing” the Vogtle nuclear project in Georgia (we think “finishing“ it would be a better description), told that august paper that if the government wanted to get Donald Trump’s nuclear construction expansion going, it should be willing to pick up part of the costs. That is, subsidize the seemingly inevitable cost overruns? All the stories that followed talked about encouraging the “early…

Germany has agreed to subsidize electricity for its heavy industries, capping prices at about €0.05 per kilowatt-hour from 2026 through 2028—a major policy move aimed at keeping its industrial base from eroding under the weight of Europe’s soaring energy costs. Chancellor Friedrich Merz said Thursday that Berlin’s coalition partners reached the deal after months of debate, and that discussions with the European Commission for approval were “largely complete.” The measure will target energy-intensive industries…

Germany has agreed to subsidize electricity for its heavy industries, capping prices at about €0.05 per kilowatt-hour from 2026 through 2028—a major policy move aimed at keeping its industrial base from eroding under the weight of Europe’s soaring energy costs. Chancellor Friedrich Merz said Thursday that Berlin’s coalition partners reached the deal after months of debate, and that discussions with the European Commission for approval were “largely complete.” The measure will target energy-intensive industries…

As oil prices struggle to find a footing in the wake of the latest OPEC moves, natural gas has stepped into a standout role in the global energy mix. This year, the demand and price trends for natural gas underscore both its resilience and its growing importance as an economic driver and transition fuel. Why Natural Gas Is Defying the Energy Downturn Global energy markets have been anything but stable in recent years. Geopolitical tensions, inflationary pressures, and the accelerating push toward decarbonization have made investors uneasy. Yet…

FTSE 100 giant Rolls-Royce said it expects profit for the full-year to be 26 per cent higher than the previous financial year after a hefty boost from its civil aerospace and defence divisions. The Derby-headquartered group is eyeing an operating profit of £3.1bn to £3.2bn after upgrading its earlier guidance of £2.7bn to £2.9bn. This would mark a major jump from the £2.5bn scored in the 2024 financial year. The London-listed has benefited from tailwinds in the recovery of global air travel, which has bolstered its…

Nearly a third of Russia’s current seaborne oil export potential is now stuck in tankers as the U.S. sanctions upend crude flows and Russia’s top buyers, China and India, are still struggling to assess the implications of the sanctions, according to JPMorgan.   “Russia’s oil exports are entering a new phase of disruption as sanctions targeting Rosneft and Lukoil are set to take effect, prompting its two largest customers — India and China — to sharply reduce their December purchases,” the Wall…

Nearly a third of Russia’s current seaborne oil export potential is now stuck in tankers as the U.S. sanctions upend crude flows and Russia’s top buyers, China and India, are still struggling to assess the implications of the sanctions, according to JPMorgan.   “Russia’s oil exports are entering a new phase of disruption as sanctions targeting Rosneft and Lukoil are set to take effect, prompting its two largest customers — India and China — to sharply reduce their December purchases,” the Wall…

Nearly a third of Russia’s current seaborne oil export potential is now stuck in tankers as the U.S. sanctions upend crude flows and Russia’s top buyers, China and India, are still struggling to assess the implications of the sanctions, according to JPMorgan.   “Russia’s oil exports are entering a new phase of disruption as sanctions targeting Rosneft and Lukoil are set to take effect, prompting its two largest customers — India and China — to sharply reduce their December purchases,” the Wall…

Crude oil inventories in the United States increased by 6.4 million barrels during the week ending November 7, after gaining 5.2 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Thursday. The increase brings commercial stockpiles to 427.6 million barrels according to government data, which is still 4% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil…

Nigeria is abandoning plans to impose a 15% duty on imported refined petroleum products, which is a blow to its new private domestic refinery of billionaire Aliko Dangote.  “The implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said on Thursday in a statement advising against “panic buying of any petroleum product.”  There is an adequate supply of petroleum products…

Nigeria is abandoning plans to impose a 15% duty on imported refined petroleum products, which is a blow to its new private domestic refinery of billionaire Aliko Dangote.  “The implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said on Thursday in a statement advising against “panic buying of any petroleum product.”  There is an adequate supply of petroleum products…

Nigeria is abandoning plans to impose a 15% duty on imported refined petroleum products, which is a blow to its new private domestic refinery of billionaire Aliko Dangote.  “The implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said on Thursday in a statement advising against “panic buying of any petroleum product.”  There is an adequate supply of petroleum products…

Nigeria is abandoning plans to impose a 15% duty on imported refined petroleum products, which is a blow to its new private domestic refinery of billionaire Aliko Dangote.  “The implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said on Thursday in a statement advising against “panic buying of any petroleum product.”  There is an adequate supply of petroleum products…

Kazakh President Kassym-Jomart Tokayev kicked off a two-day visit November 11 to Russia by exchanging pleasantries in the Kremlin with Vladimir Putin and meeting with students at the prestigious Moscow State Institute for International Relations. Tokayev sought to reassure Putin that bilateral ties retain “the character of strategic partnership,” adding that “there are no serious problems between our states.” Putin, meanwhile, voiced a desire to “talk informally about issues…

Oil prices steadied on Wednesday after a sharp 4% slide the day before, with Brent trading near $63.08 and WTI around $58.80 at 11:01 a.m. ET, as traders reassessed the latest OPEC shift toward a more balanced 2026 market outlook. The passage of the U.S. funding deal that ended the government shutdown removed one macro problem, but crude remained focused on supply signals rather than broader risk sentiment. The modest rebound contrasted with the equity rally highlighted by Bloomberg, where U.S. indices advanced on softer inflation readings, renewed…

Oil prices steadied on Wednesday after a sharp 4% slide the day before, with Brent trading near $63.08 and WTI around $58.80 at 11:01 a.m. ET, as traders reassessed the latest OPEC shift toward a more balanced 2026 market outlook. The passage of the U.S. funding deal that ended the government shutdown removed one macro problem, but crude remained focused on supply signals rather than broader risk sentiment. The modest rebound contrasted with the equity rally highlighted by Bloomberg, where U.S. indices advanced on softer inflation readings, renewed…