Saudi Arabia made investment commitments of as much as $1 trillion during the visit of Crown Prince Mohammed bin Salman in the United States. The sum is a substantial increase on an original pledge of $600 billion, but it is also a sign that the relationship between two of the world’s largest oil producers is back on track. The relationship, dating back to the early 20th century, was rather damaged during the Biden administration, in part due to its focus on the energy transition, which put it at odds with Saudi Arabia as an economy heavily…

Previously, we reported that erstwhile high-flying nuclear energy stocks have crashed spectacularly, with the harsh reality of the long lead and construction times of nuclear facilities, coupled with the fact that some stocks in the space with zero revenues are in nosebleed territory, sending the sector into a tailspin. However, the nuclear sector is in good company: the entire U.S. stock market has lately been pulling back, with tech stocks selling off and the AI-driven boom running out of steam.  That said, one corner of the energy universe…

Since China restricted exports of rare earth elements early this year, Western countries have raced to create mine-to-magnet supply chains to reduce dependence on Chinese supply in the key military and automotive industries. The Trump Administration is ensuring funding through buying minority stakes in North American rare earth and lithium companies and projects, while companies in the U.S. and Europe are setting up alliances with miners and refiners to have magnet supply chains outside and independent of China. The West has realized it’s…

Russia’s largest oil producer just flashed a signal Moscow didn’t want to see: Rosneft is recommending its smallest interim dividend since the pandemic year of 2020. For a company that has spent the past two decades styling itself as a reliable cash machine for the Kremlin, a 11.56-ruble per share payout is not just stingy, it’s a symptom. The timing is exquisite. The proposed dividend lands one day before the Trump administration’s sanctions against Rosneft and Lukoil formally hammer into place. Investors saw this coming.…

Russia’s largest oil producer just flashed a signal Moscow didn’t want to see: Rosneft is recommending its smallest interim dividend since the pandemic year of 2020. For a company that has spent the past two decades styling itself as a reliable cash machine for the Kremlin, a 11.56-ruble per share payout is not just stingy, it’s a symptom. The timing is exquisite. The proposed dividend lands one day before the Trump administration’s sanctions against Rosneft and Lukoil formally hammer into place. Investors saw this coming.…

Many of the 80-plus countries at the COP30 climate conference in Brazil are pushing for a detailed road map that would phase out fossil fuels. Brazil has the presidency of the 30th conference of the parties under the UN Framework Convention on Climate Change, the treaty signed in 1992 in Rio de Janeiro that binds the world to “avoid dangerous climate change”, without specifying how to do so. COP30 President André Corrêa do Lago is reportedly pushing for a decision on four issues that weren’t on the original agenda,…

Exxon Mobil has finally lifted force majeure on the long-stalled Rovuma LNG project in northern Mozambique, clearing the first real procedural hurdle the $30-billion development has seen in years. The company halted activity back in 2021 after escalating violence in Cabo Delgado forced both Exxon and TotalEnergies to abandon their sites. Total’s adjacent Mozambique LNG project declared force majeure first; Exxon followed soon after. The two projects share infrastructure, which meant neither could realistically move without the other. An Exxon…

The global floating solar panels market is projected to grow significantly over the next seven years, driven by increasing land scarcity, government mandates for renewable energy, and the technology's inherent efficiency benefits, according to a report from market research firm DataM Intelligence. The market, valued at $55.11 million in 2024, is forecast to increase to $84.90 million by 2032, expanding at a compound annual growth rate (CAGR) of 5.55% from 2025 to 2032. This growth signals a shift in the solar industry, where floating photovoltaic…

The outcome of the visit of Saudi Crown Prince Mohammed bin Salman to Washington, including his meeting with Trump and his entire entourage, has been successful, at least by media reporting. The impact of all is still to be seen, but from the start, MBS’s visit not just rebooted a strained political relationship. The primary outcome, based on all, is that it has reset the economic core of the US–Saudi partnership around Aramco. While the largest oil company in the world had already found its place in global power projections, Aramco…

India’s Reliance Industries has officially stopped importing Russian crude into its giant Jamnagar refining complex as of November 20—a sharp and early pivot that signals just how seriously Indian refiners are taking Washington’s latest sanctions squeeze on Rosneft and Lukoil. Reliance had the most to lose. For two years, it was India’s single largest buyer of Russian oil, backed by a long-term deal for nearly 500,000 bpd with Rosneft. Now, that relationship is effectively mothballed, at least for Jamnagar, as the company…

Geothermal power, which harnesses the Earth’s natural heat for electricity generation, heating, and industrial processes, is recognized within the energy sector for its high capacity factor. This reliability is a key differentiator, enabling geothermal plants to provide consistent baseload power, unlike intermittent sources such as solar and wind, according to industry analysts. This positioning makes geothermal a critical component in building resilient, low-carbon electricity grids. The global geothermal power market is projected to nearly…

Russian attacks on energy infrastructure in western Ukraine have left hundreds of thousands of Ukrainians without power as of Thursday as nuclear power plants are curbing generation because of damaged transmission lines.  Damage to power lines has forced nuclear power plants, which generate more than half of the country’s electricity, to reduce production, a representative of Ukraine’s national nuclear energy company Energoatom told Reuters today.  Earlier this week, Rafael Mariano Grossi, the Director General of the International…

Russian attacks on energy infrastructure in western Ukraine have left hundreds of thousands of Ukrainians without power as of Thursday as nuclear power plants are curbing generation because of damaged transmission lines.  Damage to power lines has forced nuclear power plants, which generate more than half of the country’s electricity, to reduce production, a representative of Ukraine’s national nuclear energy company Energoatom told Reuters today.  Earlier this week, Rafael Mariano Grossi, the Director General of the International…

Azerbaijan is hoping China can play a big role in helping Baku fulfill its ambitions of building a “green energy corridor” to Europe. Azerbaijani officials and representatives of China's Datang Overseas Investment Co. signed a deal on November 12 covering the construction of a 100 Megawatt solar power plant. The sides also agreed to explore the development of offshore wind power, energy storage systems, and the implementation of technical training programs. The solar farm will be situated in the Gobustan District south of Baku,…

Oil and gas supermajor ExxonMobil will buy a 40% stake in the new Bahia natural gas liquids (NGL) pipeline from Enterprise Products Partners as producers and pipeline operators expand gas takeaway capacity in the Permian basin.  Enterprise Products Partners on Thursday said it had entered into an agreement with ExxonMobil, which will acquire a 40% undivided joint interest in Enterprise’s Bahia NGL pipeline that is currently being commissioned.   The closing of the transaction is subject to regulatory approvals and is expected…

Oil and gas supermajor ExxonMobil will buy a 40% stake in the new Bahia natural gas liquids (NGL) pipeline from Enterprise Products Partners as producers and pipeline operators expand gas takeaway capacity in the Permian basin.  Enterprise Products Partners on Thursday said it had entered into an agreement with ExxonMobil, which will acquire a 40% undivided joint interest in Enterprise’s Bahia NGL pipeline that is currently being commissioned.   The closing of the transaction is subject to regulatory approvals and is expected…

Latin America has all the necessary ingredients for a successful clean energy transition, but can it pull it off? The region has enormous clean energy production potential, and already sources an impressive 70% of its electricity from renewables. However, the necessary infrastructural and policy supports to ensure a secure, sustainable, and just transition are lagging far behind.  A new white paper from the World Economic Forum, Energy Transition Readiness: Latin America and the Caribbean, finds that “while the region has some of the…

A massive fire has erupted at a crude oil upgrader project in Venezuela after an explosion was heard near the distillation tower, workers on site and sources at state oil firm PDVSA told Reuters.  The Petrocedeno project in Venezuela’s Orinoco Belt, operational since 2000, was one of the four original projects in the heavy crude oil belt in the world’s biggest holder of crude resources.   Petrocedeno, operated by PDVSA, extracts extra-heavy oil and upgrades it into a lighter synthetic crude for export. Petrocedeno produces…

President Volodymyr Zelenskyy is set to meet top US Defense Department officials in Kyiv on November 20 amid reports that Moscow and Washington have drawn up a peace plan that calls for Ukraine to make major concessions. The new US-drafted proposal to halt the war in Ukraine sees Kyiv giving up some of its territory and some of its weaponry, news reports late on November 19 said. The US proposals also reportedly include cutting the size of Ukraine's armed forces and accepting a rollback of US military assistance that has been essential to Ukraine's…

The $5-billion East African Crude Oil Pipeline (EACOP), which is planned to export crude oil from Uganda via a port in Tanzania, is now 75% complete, moving landlocked Uganda a step closer to becoming an oil exporter.  EACOP, a controversial pipeline project that has seen a lot of environmental opposition and planning and construction delays, is now about three-quarters completed, according to the Petroleum Authority of Uganda (PAU) as quoted by Reuters. With pipeline construction progressing, Uganda now aims to begin oil production from its…