U.S. officials told oil executives on Wednesday that Washington will not provide security guarantees for companies operating in Venezuela, even as the Trump administration encourages the industry to re-engage with the country’s oil sector.  According to people familiar with the discussions, senior administration officials said companies would be expected to manage their own physical and political risk if they choose to invest, signaling limits to U.S. involvement as Venezuelan crude re-enters global markets.  “We are not going…

A bipartisan group of lawmakers has proposed creating a new $2.5 billion agency to accelerate U.S. production of rare earths and other critical minerals, according to AP and MSN.  The effort comes as the Trump administration has already taken aggressive steps to weaken China’s control over materials vital to high-tech products, electric vehicles, and advanced weapons systems. While it remains unclear how the legislation would align with White House policy, pressure is growing to cut U.S. dependence on China after Beijing used its dominance…

Crude oil inventories in the United States increased by 3.6 million barrels during the week ending January 21, according to new data from the U.S. Energy Information Administration (EIA) released on Thursday. The increase brings commercial stockpiles to 426 million barrels according to government data, which is still 2% 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 inventories grew by 3.04 million barrels. Crude prices…

The UK’s net zero policies were singled out in President Trump’s long tirade against European energy struggles at the World Economic Forum in Davos.  President Trump described the UK economy’s struggles in stark terms, suggesting that the Labour government had disregarded “one of the greatest reserves in the world” at the North Sea.  In his speech, he picked out countries that remained committed to net zero, pointing to it as central reason for higher prices and stagnant growth.  “The UK produces…

U.S. President Donald Trump supervises the release of funds from sales of Venezuela’s oil, an official at the U.S. Administration told Semafor on Thursday.   Following the capture of Venezuelan leader Nicolas Maduro early this month, President Trump moved to create a fund to hold revenues from sales of Venezuela’s oil.  The money is being held in U.S. accounts and released at the discretion of President Trump, Semafor reports.   Revenues from sales of Venezuela’s oil “will first settle in US controlled…

The Trump Administration plans to offer U.S. states incentives for building nuclear reactors in exchange for agreeing to store nuclear waste, a source familiar with the matter told Reuters on Thursday. However, a spokesperson for the U.S. Energy Department told Reuters that the story was “false” and that “no decisions have been made at this time,” after POLITICO first reported on the plan late on Wednesday.  The POLITICO report said that the Energy Department could invite interest from U.S. states as early as this week. …

The Trump Administration plans to offer U.S. states incentives for building nuclear reactors in exchange for agreeing to store nuclear waste, a source familiar with the matter told Reuters on Thursday. However, a spokesperson for the U.S. Energy Department told Reuters that the story was “false” and that “no decisions have been made at this time,” after POLITICO first reported on the plan late on Wednesday.  The POLITICO report said that the Energy Department could invite interest from U.S. states as early as this week. …

US President Donald Trump has ruled out military action to take control of Greenland while also saying he wants to hold more talks on the United States acquiring the island, which he described as “our territory” during a keynote speech at the World Economic Forum in Davos, Switzerland, on January 21. Hours after his speech, Trump also walked back a plan to impose tariffs on some European countries for opposing his Greenland policy. In Trump's highly anticipated speech on an issue that has caused acute alarm in other NATO countries,…

For decades, fossil fuel exports have been a major driver of Canada's economy, generating hundreds of billions in revenue and supporting hundreds of thousands of jobs, with oil and gas making up about 25% of total Canadian exports. However, Canada’s energy markets are characterized by a key flaw: Canada exports nearly all its fossil fuels to the U.S. thanks to geographic proximity as well as a highly integrated pipeline network built to serve U.S. markets since Canada's much smaller population cannot consume its vast output.  This has…

On the campaign trail to the 2024 elections, Donald Trump made affordable energy for Americans a top priority—along with a boost for the country’s energy industry with a view to “energy dominance”. Now, conflicts are emerging between these priorities, making it difficult to follow them all. Two of President Trump’s energy goals are compatible enough: cheaper oil makes for greater demand both at home and abroad, so cheap gasoline for Americans can go hand in hand with growing U.S. energy dominance through exports. The…

Kenya this week launched its biggest-ever initial public offering, the first share sale in 11 years, as it looks to list 65% of its state-owned pipeline company to raise funds for expanding energy infrastructure. Kenya Pipeline Company (KPC) expects to raise $824 million (106.3 billion Kenyan shillings) by selling 11.81 billion shares to domestic and international investors and company employees in the IPO launched on January 19 and running until February 19. Once listed, KPC is expected to be the fifth largest firm on the Nairobi Stock Exchange…

President Donald Trump’s crusade to topple Venezuela’s illegitimate President Nicolas Maduro, which culminated with his capture in a daring night raid by U.S. troops, started with a massive August 2025 naval buildup in the Caribbean. That escalated to airstrikes on suspected narcotics boats and the seizure of tankers transporting Venezuelan crude. After Maduro’s removal, Delcy Rodríguez, viewed as a regime moderate, replaced him as interim president. This unfolded after years of failed sanctions, broken promises and futile…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 3.04 million barrels in the week ending January 16. Crude oil inventories increased by 5.27 million barrels in the week prior. Inventories in the US Strategic Petroleum Reserve (SPR) keep climbing week after week. The Department of Energy (DoE) reported that crude oil inventories in the SPR rose by 800,000 barrels to 414.5 million barrels in the week ending January 16. This is 311 million barrels shy of maximum capacity. US production…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 3.04 million barrels in the week ending January 16. Crude oil inventories increased by 5.27 million barrels in the week prior. Inventories in the US Strategic Petroleum Reserve (SPR) keep climbing week after week. The Department of Energy (DoE) reported that crude oil inventories in the SPR rose by 800,000 barrels to 414.5 million barrels in the week ending January 16. This is 311 million barrels shy of maximum capacity. US production…

Electric utility stocks seem to have tapered off, after all the hoopla about how demand from AI would transform the business turned into concern that demand from AI would raise prices to consumers and rile the politicians who set the rates. Maybe it is time to reassess what investors expect. First, understand that Wall Street focuses most on one number in utility financial valuation nowadays, the growth of rate base, because regulators set earnings as a percentage of rate base. The bigger the rate base, the more the utility’s income. We calculate…

Small businesses are ditching green finance initiatives as “ensuring survival” becomes a bigger focus for firms amid the pressures of rising costs. The latest business growth tracker from Natwest showed prioritising of sustainability was at an all time low among small and medium-sized enterprises (SMEs) by the end of 2025.  Just 30 per cent of firms said sustainability was a ‘high priority’ for the year ahead – the lowest since the series began in early 2020. Numerous businesses have rowed back on green policies…

Faced with a gap in reliable and low-emission power supply in the early 2030s, the UK could extend by 20 years the life of the Sizewell B nuclear power station, the only nuclear plant in the country whose life can be extended for decades. UK energy firm Centrica and France’s EDF, which operates five nuclear power plants in Britain, are discussing with the government extending the life of Sizewell B, the nuclear power plant in Suffolk, from 2035 to 2055, the Financial Times reported on Wednesday. Unlike other nuclear power stations in the…

Faced with a gap in reliable and low-emission power supply in the early 2030s, the UK could extend by 20 years the life of the Sizewell B nuclear power station, the only nuclear plant in the country whose life can be extended for decades. UK energy firm Centrica and France’s EDF, which operates five nuclear power plants in Britain, are discussing with the government extending the life of Sizewell B, the nuclear power plant in Suffolk, from 2035 to 2055, the Financial Times reported on Wednesday. Unlike other nuclear power stations in the…

Chinese entities are making a push to expand joint ventures and corporate takeovers in Central Asia. In Kazakhstan, the mining sector appears to be a focus of Chinese attention. The Zhejiang Mining Heavy Industry Co., Ltd. signed a conditional deal to pay 29.15 billion Kazakh tenge (about $57 million) for Kazakhstan’s JV Alaigyr LLP, which holds mining rights to a major silver and lead field, as well as licenses to explore two more fields. Elsewhere a consortium of Chinese companies announced the purchase for…

Kazakhstan’s Tengiz oilfield will remain offline for at least another seven to ten days following the fire-related shutdown announced earlier this week, extending an outage at one of the world’s most important non-OPEC crude producers, Reuters reported.  Production at Tengiz was halted after fires broke out at a power facility supplying the field, forcing operators to shut in output as a precaution. At the time, no timeline was provided for a restart, raising concerns about a potentially prolonged disruption at a field that produces…