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…

The timeline of the US–Venezuela conflict highlights a long-term strategy centered on securing heavy crude supplies for US Gulf Coast refineries, which are configured to process heavy sour barrels and benefit from Venezuela’s ability to deliver crude over short lead times. This will reduce reliance on Middle Eastern high-sulfur fuel oil (HSFO) for the US. Exports of Venezuela crude are expected to recover slowly toward the US, Europe and India, leaving China disadvantaged, while OPEC+ remains defensive. US Gulf Coast refineries process…

U.S. supermajor Chevron expects to finalize this quarter a planned sale of its stake in a Singaporean refinery and distribution assets in wider Asia, Reuters reported on Wednesday, quoting multiple sources familiar with the development. Last year, Chevron was said to have invited non-binding bids from potential buyers of its 50% stake in a refinery in Singapore as part of a push to streamline global assets and reduce costs.   Chevron has hired Morgan Stanley to explore the sale of its 50% stake in Singapore Refining Company (SRC), as…

U.S. supermajor Chevron expects to finalize this quarter a planned sale of its stake in a Singaporean refinery and distribution assets in wider Asia, Reuters reported on Wednesday, quoting multiple sources familiar with the development. Last year, Chevron was said to have invited non-binding bids from potential buyers of its 50% stake in a refinery in Singapore as part of a push to streamline global assets and reduce costs.   Chevron has hired Morgan Stanley to explore the sale of its 50% stake in Singapore Refining Company (SRC), as…

Halliburton reported fourth-quarter earnings that beat expectations, as international activity continued to offset weak conditions in North America, according to results published by Reuters on Tuesday. The oilfield services provider posted adjusted profit of 69 cents per share for the quarter ended December 31, above the 55-cent consensus compiled by LSEG, even as profit slipped year on year due to charges tied to asset impairments and restructuring. Revenue rose to about $5.66 billion, helped by international sales, while North America remained…

Halliburton reported fourth-quarter earnings that beat expectations, as international activity continued to offset weak conditions in North America, according to results published by Reuters on Tuesday. The oilfield services provider posted adjusted profit of 69 cents per share for the quarter ended December 31, above the 55-cent consensus compiled by LSEG, even as profit slipped year on year due to charges tied to asset impairments and restructuring. Revenue rose to about $5.66 billion, helped by international sales, while North America remained…

U.S. natural gas futures jumped by more than 45% in just two days as Arctic cold is descending on the eastern United States with freezing temperatures and warnings of dangerous life-threatening wind chills.  On Tuesday, the benchmark U.S. natural gas futures at Henry Hub soared by 23% amid the cold snap and short covering. Natural gas futures jumped by another 22% early on Wednesday, and were headed for their biggest weekly gain in 35 years.  The benchmark gas prices surged from $3.40 per million British thermal units (MMBtu) on Monday…