The world installed a record-high wind power capacity last year, but this isn’t enough to meet the goal of tripling renewable energy capacity by the end of the decade, the Global Wind Energy Council (GWEC) said in a new report on Wednesday. Globally, a total of 117 gigawatts (GW) of wind energy were installed in 2024—a record year for new capacity, the wind industry body said in its 2025 Global Wind Report. New wind capacity boomed despite policy uncertainty and instability, GWEC said. It also noted “Yet, this momentum is not…

Top-level Ukraine peace talks that were set to take place in London have been abruptly postponed, Britain's Foreign Office said, after several top diplomats pulled out at the last minute. The announcement was made just hours before the April 23 meetings, which were to include Ukraine's foreign minister, had been scheduled to begin. "This is to confirm that the Ukraine Peace Talks meeting with Foreign Ministers today is being postponed," the Foreign Office said in a statement to RFE/RL. "Official level talks will continue but these are closed to…

Chinese state-controlled refining giant Sinopec has returned to buying Russian crude oil after halting purchases last month due to concerns about the U.S. sanctions on Russia’s oil trade and shadow tanker fleet imposed in January, trade sources told Reuters on Wednesday.  Sinopec, the biggest refiner in Asia by processing capacity, has bought its first ESPO blend from Russia for May loading since the February loading plans, after refraining from buying the grade for loading in March and April until it assesses the risk from the U.S.…

Kazakhstan has sparked fresh tensions within OPEC+ by asserting that its oil production strategy will be governed by national interests rather than group quotas, raising questions about future compliance and cohesion within the cartel. Kazakh Energy Minister Erlan Akkenzhenov told Reuters on Wednesday that the Central Asian producer, which pumps around 2% of the world’s oil, cannot reduce output at key projects led by foreign majors such as Chevron and ExxonMobil. Megaprojects such as Tengiz, Kashagan, and Karachaganak make up 70% of Kazakhstan's…

Kazakhstan has sparked fresh tensions within OPEC+ by asserting that its oil production strategy will be governed by national interests rather than group quotas, raising questions about future compliance and cohesion within the cartel. Kazakh Energy Minister Erlan Akkenzhenov told Reuters on Wednesday that the Central Asian producer, which pumps around 2% of the world’s oil, cannot reduce output at key projects led by foreign majors such as Chevron and ExxonMobil. Megaprojects such as Tengiz, Kashagan, and Karachaganak make up 70% of Kazakhstan's…

Kazakhstan has sparked fresh tensions within OPEC+ by asserting that its oil production strategy will be governed by national interests rather than group quotas, raising questions about future compliance and cohesion within the cartel. Kazakh Energy Minister Erlan Akkenzhenov told Reuters on Wednesday that the Central Asian producer, which pumps around 2% of the world’s oil, cannot reduce output at key projects led by foreign majors such as Chevron and ExxonMobil. Megaprojects such as Tengiz, Kashagan, and Karachaganak make up 70% of Kazakhstan's…

Crude oil inventories in the United States saw an increase of 200,000 barrels during the week ending April 18, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading down prior to the crude data release by the U.S. Energy Information Administration, continuing the price slide that began when the Liberation Day tariffs were announced. On Tuesday, the American Petroleum Institute (API) reported a different story: one that showed a large draw of 4.565 million barrels in U.S. crude…

Oil prices experienced a slight dip as Kazakhstan's high output and oversupply concerns overshadowed positive factors like US sanctions on Iranian oil. US stocks saw a significant rally, driven by optimism surrounding trade talks and despite the fluctuations in the oil market. Uncertainty regarding global demand and the impact of tariffs continue to be key factors influencing both oil prices and market sentiment. 1m ago 9:00am CST Canada’s Election Spotlights Energy Sovereignty Push Ahead of Canada’s April 28 election, Liberal PM Mark Carney…

Mexico’s new refinery, Olmeca, exported in early April the first cargo of ultra-low sulfur diesel (ULSD) as the refinery is slowly starting up processing of fuels, a source with knowledge of Olmeca’s operations has told Reuters. Olmeca processed unfinished high-sulfur diesel received from the Madero refinery, the source told Reuters. Olmeca continues to see marginal production of fuels, while the ULSD cargo was likely Mexico’s first such export from the Dos Bocas site, according to tanker tracking data compiled by Reuters. …

Turkey is currently in talks to explore for oil and gas in Bulgaria, with similar plans for exploration in Iraq and Libya, Turkish Energy Minister Alparslan Bayraktar has revealed. According to the minister, state-owned energy company Turkiye Petrolleri AO (TPAO) will sign an agreement with an unnamed foreign partner within the next month to conduct exploration in Bulgaria’s section of the Black Sea.  Turkey not only wants to boost domestic oil and gas production, but also harbors ambitions to become a regional energy hub. Turkish President…

The global automotive industry could soon start reeling from one of China’s boldest moves in the trade war—restricting exports of several rare earth metals that are critical to the auto manufacturing, energy, and defense industries. Earlier this month, China, which dominates the global rare earth and critical minerals supply chain, announced it would curb its exports of dysprosium, gadolinium, scandium, terbium, samarium, yttrium, and lutetium. These so-called “heavy” and “medium” rare earth elements are mostly…

Plastics manufacturers in China are facing some tough times ahead due to their dependence on imports of U.S. feedstock. These imports are already running at record highs. This year, they were expected to surge by 20%, but then Trump started his tariff offensive. And there are no suppliers of this feedstock that compare in terms of production size with the United States. Ethane is a component of natural gas. Its production in the U.S. took off with the shale gas boom and is still booming thanks to the relentless growth in petrochemical demand on…

On an international scale, researchers have been hard at work making magnesium batteries a feasible replacement for lithium-ion batteries and hydrogen fuel cells, in a development that could upend the electric vehicles industry on a worldwide scale.  Currently, the global EV fleet runs on lithium-ion batteries, but these fundamental building blocks of the decarbonization movement carry some critical drawbacks. As it stands lithium production and refining for use in lithium-ion batteries and other applications is all but monopolized by China.…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell 4.565 million barrels in the week ending April 18. The API estimated a 2.4 million barrel build in the prior week. So far this year, crude oil inventories are still up more than 19 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 500,000 barrels to 397.5 million barrels in the week ending April 18.…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell 4.565 million barrels in the week ending April 18. The API estimated a 2.4 million barrel build in the prior week. So far this year, crude oil inventories are still up more than 19 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 500,000 barrels to 397.5 million barrels in the week ending April 18.…

By Eric Kulisch of FreightWaves U.S. plans next month to cancel tariff-free access for low-value parcel shipments from China and Hong Kong, coupled with a new 145% tariff rate on Chinese imports, could bleed more than $22 billion in revenue from the air cargo sector over three years and put thousands of online sellers with direct-to-consumer fulfillment models out of business, according to an e-commerce and logistics consulting firm.  Derek Lossing, the founder of Cirrus Global Advisors, has previously said the Trump administration’s…

Via Metal Miner   China is once again weaponizing rare earths elements in the tariff war with the United States. According to media reports, China recently suspended the export of certain rare earth minerals, ostensibly while re-drafting the regulations covering such exports. MetalMiner’s weekly newsletter states that if the issue is not resolved soon, both the halt in rare earth exports and the trade war itself are bound to affect the production of a wide range of products across multiple sectors. As most of us know, rare earths are…

Europe’s largest LNG export terminal, Hammerfest LNG—aka Melkoeya, aka The Drama Queen of the Barents Sea—is taking a little summer siesta. Equinor shut the plant down Tuesday for its annual maintenance ritual, which started at 04:00 GMT and is expected to last until July 10. This time, at least, it’s planned. No fires, no gas leaks, no compressor tantrums—just good old-fashioned upkeep. Located on Norway’s Melkoeya Island, Hammerfest LNG is a heavy hitter in the continent’s gas game. It slurps up supply…

Tesla shares sank nearly six per cent on Easter Monday, leaving investors braced for what analysts have called a “code red” moment for Elon Musk’s firm ahead of its first quarter earnings announcement. The electric vehicle (EV) giant is facing mounting concerns over failing sales, geopolitical headwinds and evolving criticism of Musk’s political involvement, which analysts say is damaging brand perception in key global markets. Shares slide on bearish forecasts Tesla stock closed Monday at $227, down 5.75 per cent. The decline…

Oil prices have experienced a slight increase, with Brent crude at $68 per barrel, largely driven by new U.S. sanctions targeting Iranian oil exports. While a surging U.S. equity market supports the recovery, lingering concerns about trade tensions and a reduced global economic outlook could hinder future oil demand. Russia has reduced its 2025 Brent forecast, and analysts caution that trade disputes may continue to negatively impact oil prices despite the recent rebound. 1m ago 12:09pm CST IMF Slashes Global Growth Forecasts The IMF slashed global…