The South Pacific Island of Samoa has been facing an energy crisis as it plunged into darkness this month. Samoa continues to be highly dependent on fossil fuel imports to meet most of its energy needs, including power generation. Much of its power infrastructure is susceptible to severe weather and other challenges, which puts the country at risk of blackouts during cyclones. However, the recent energy emergency has demonstrated that the nation’s power infrastructure is even more vulnerable than previously thought, suggesting the need for…

Not long ago, falling oil prices were widely celebrated in the United States. Cheaper gasoline meant more disposable income for consumers, lower transportation costs for businesses, and a boost to sectors that rely on oil as an input. But in 2025, that simplistic view no longer holds up. The economic equation has changed—dramatically. From Net Importer to Net Exporter In 2005, the U.S. was importing a staggering 12.5 million barrels of oil and finished products per day. At that time, a drop in oil prices translated into major savings on our…

U.S. President Donald Trump insists that American buyers boost purchases of U.S. energy goods to reduce their large trade surpluses with America. Some traditional U.S. energy buyers, such as Japan, South Korea, and the EU, have signaled that they may be willing to buy more American oil, LNG, or coal to appease the President who has fixated on fixing the massive trade deficits America runs with most countries. Higher energy imports from the trade partners could dent some of the U.S. trade deficits, but they will by no means fix or erase these. For…

It appears that the Trump administration’s single-minded pursuit of critical minerals is starting to bear fruit in Central Asia. According to an Uzbek government statement April 9, meetings in Washington involving Uzbek Investment Ministry officials and US business executives yielded several agreements covering the exploration, extraction and processing of minerals in the Central Asian state. The deals also reportedly cover the provision of innovative US technologies to Tashkent, and the training of Uzbek specialists. “The agreements…

The price of gold has climbed to another record high, as anxiety around Donald Trump’s tariff plan and a falling dollar push investors into the traditional safe haven asset. The price of bullion rose 1.5 per cent to break $3,200 (£2,451) per troy ounce for the first time on Friday as equities across Asia fell amid the continued fallout from Donald Trump’s tariff delay. The yellow metal had been caught up in the aggressive sell-off at the height tariff-induced market rout despite its traditional role as a safe haven asset for investors.…

Colombia's oil industry is being rocked by another scandal focused on environmental misdoings, human rights violations, and unreported oil spills. For decades, a "drill at all costs" mentality dominated Colombia’s domestic politics, allowing energy companies, especially national oil company Ecopetrol, to operate with impunity. While that permitted Colombia to become a leading regional oil producer, it led to severe environmental harm and civil conflict. Industry insiders and environmental activists allege Ecopetrol is systematically failing…

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, following a 2 rig dip in the prior week. The total rig count in the US fell by 7 to 583 rigs, according to Baker Hughes, down 34 from this same time last year. The number of oil rigs fell by 9 to 480—down by 26 compared to this time last year. The number of gas rigs rose by 1 this week to 97 for a loss of 12 active gas rigs from this time last year. Miscellaneous rigs were rose by 1 to…

Has there been a more underrated hero in the climate conversation than natural gas? Once hailed as the darling "bridge fuel" of the Obama era, it’s now regularly flogged by environmental purists who claim that our choice is either solar panels or planetary doom. But a new study from Miami University Ohio just lobbed a pretty compelling truth grenade: switching from coal to gas is cutting carbon emissions. A lot. According to peer-reviewed research, greenhouse gas emissions dropped 7.5% annually as companies swapped coal for natural gas via…

Has there been a more underrated hero in the climate conversation than natural gas? Once hailed as the darling "bridge fuel" of the Obama era, it’s now regularly flogged by environmental purists who claim that our choice is either solar panels or planetary doom. But a new study from Miami University Ohio just lobbed a pretty compelling truth grenade: switching from coal to gas is cutting carbon emissions. A lot. According to peer-reviewed research, greenhouse gas emissions dropped 7.5% annually as companies swapped coal for natural gas via…

After over a year in the making, the takeover of U.S. Steel by Japan’s Nippon Steel was thwarted by former President Joe Biden in January due to security concerns. Now, President Donald Trump is considering whether to revitalise the deal, even as he introduces tariffs on Japanese imports.  In December 2023, Nippon Steel announced it planned to acquire U.S. Steel for $14.9 billion as part of its plan to expand its U.S. assets. It was expected to make Nippon the third-largest global steel producer, contributing around 86 million tons…

The United States could halt Iranian oil exports if it increases pressure on Tehran to ensure that it will never obtain a nuclear weapon, U.S. Secretary of Energy, Chris Wright, told Reuters during a visit to Abu Dhabi in the United Arab Emirates (UAE). The U.S. allies in the Gulf region, which include the UAE and Saudi Arabia, are very concerned by the prospect of an Iran with a nuclear weapon and share the U.S. position that Iran shouldn’t be allowed to have one, Secretary Wright told Reuters. The top U.S. energy official is on a tour in…

The United States could halt Iranian oil exports if it increases pressure on Tehran to ensure that it will never obtain a nuclear weapon, U.S. Secretary of Energy, Chris Wright, told Reuters during a visit to Abu Dhabi in the United Arab Emirates (UAE). The U.S. allies in the Gulf region, which include the UAE and Saudi Arabia, are very concerned by the prospect of an Iran with a nuclear weapon and share the U.S. position that Iran shouldn’t be allowed to have one, Secretary Wright told Reuters. The top U.S. energy official is on a tour in…

Oil market fundamentals appear to have entirely given way to sentiment recently, with Trump's tariff war with China driving prices down.Friday, April 11th, 2025 This week, one may not have noticed that oil markets are still backwardated and that refiners are still buying oil because the general sentiment in oil markets soured to its lowest level in years. Seemingly ceaseless salvos of incremental import tariffs between the US and China frightened the oil markets to such an extent that even Trump’s 90-day delay on implementation…

The United States could halt Iranian oil exports if it increases pressure on Tehran to ensure that it will never obtain a nuclear weapon, U.S. Secretary of Energy, Chris Wright, told Reuters during a visit to Abu Dhabi in the United Arab Emirates (UAE). The U.S. allies in the Gulf region, which include the UAE and Saudi Arabia, are very concerned by the prospect of an Iran with a nuclear weapon and share the U.S. position that Iran shouldn’t be allowed to have one, Secretary Wright told Reuters. The top U.S. energy official is on a tour in…

Numbers Report – April 11, 2025In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. Let’s take a look.1. Kazakhstan’s Cheating Becomes OPEC+’s Headache - OPEC+’s decision to speed up its production unwinding in May-July has served the oil group a trick, as collapsing prices only aggravated member countries’…

Crude oil futures endured a relentless sell-off this week as escalating trade tensions between the U.S. and China deepened fears of an economic slowdown, triggering a widespread reassessment of demand expectations. The fallout from tit-for-tat tariffs—now reaching an astonishing 145% on Chinese goods—has severely undermined confidence in the global consumption outlook, particularly from China, the world’s second-largest crude importer. Investor sentiment took a hit early in the week as oil prices plunged nearly 4% on Monday alone,…

Politics, Geopolitics, & Conflict Trump has accused Mexico of violating a 1944 water treaty by failing to deliver enough water to Texas, harming farmers in the south and leading to the closure of a sugar mill. Trump is threatening tariffs over the issue, also mentioning sanctions (however, tariffs and sanctions seem to be conjoined in the administration).  We are keeping a close eye on developments between Israel and Turkey, who are at dangerous odds over the future of Syria, with both external actors now homing in on Assad’s old…

If this week’s volatility wasn’t enough for you, the weekend promises to cook up even more market catalysts to ensure a manic Monday. As the market spins in a kaleidoscope of newsflashes about tariffs, more tariffs, postponement of tariffs (allegedly influenced by a hedge fund billionaire), more tariff threats, recession, crashing oil prices, and a dismal outlook for demand, the only thing that's certain is that this is far from over.  And this is all taking place against the backdrop of a barrage of geopolitical developments,…

Venezuelan state-owned oil firm PDVSA has revoked authorizations to U.S. supermajor Chevron to load and export crude from Venezuela this month, following the Trump Administration’s increased sanctions on Venezuelan oil exports and tariffs on its oil buyers, Reuters reports, quoting sources familiar with the matter. The Trump Administration has already revoked Chevron’s license to operate in Venezuela and export oil from its oilfields, with May 27 the deadline for Chevron to wind down its operations in the South American country.…

Looking back, I realize that I started talking in these pages about some degree of correction and volatility in markets caused by the possibility of a recession, or at least the fear of one, five weeks ago. I don’t, however, claim that that makes me a genius. In fact, I would say that you would have to be pretty dumb not to have seen this coming. Whatever you may think of him, Donald Trump is somebody who very often does what he has said he will do, and he never stopped saying on the campaign trail that he would impose tariffs on America’s…