Pakistan has recorded the first substantial increase in its domestic oil reserves since 2020, with new discoveries and higher production leading to a 23% annual increase in reserves to 238 million barrels as of December 2024. The key fields contributing to the increase include Pasakhi/Pasakhi North East, Rajian, Kunar, Sono, Thora, Jhandial, and Lashari Centre, according to a report by Arif Habib Limited cited by Pakistani media. Natural gas reserves in Pakistan remained relatively flat last year compared to the gas reserve estimate for 2023. Despite…

India plans to remove an unlimited liability clause in its nuclear energy laws in a bid to attract foreign firms, especially U.S. companies, to its nuclear energy sector. The Indian Department of Atomic Energy has prepared a bill that would remove a clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability if accidents occur, government sources told Reuters. India plans a major expansion to its nuclear energy capacity in the coming decades as a pillar of reliable zero-carbon electricity to meet surging…

China hasn’t imported liquefied natural gas from the United States since early February, as the tariff war hit energy trade and could have long-term consequences for U.S. LNG export contracts. The last LNG cargo to arrive in China from America was a tanker from Corpus Christi, which docked in the southern Chinese province of Fujian on February 6, according to shipping data cited by the Financial Times. The Chinese tariffs on U.S. goods, including energy products, and the broader trade war between the world’s two biggest economies could…

Europe has been at the forefront of global efforts at an energy transition as it prioritized the reduction in carbon dioxide emissions over any other policy priorities. It has had some marked success, too—the EU, which covers most of Europe, saw its emissions dip by 2.9% last year. This year, however, the trend has reversed. Emissions are up. And there’s transition trouble on the way. This week, climate NGO Centre for Research on Energy and Clean Air reported that European Union emissions in 2024 had fallen by 2.9% from the previous…

AI data centers and the reshoring of some manufacturing will drive U.S. electricity demand growth over the coming decade. The world’s biggest economy will need all energy sources to ensure power demand is met. Natural gas is the biggest near-term winner of AI advancements, but renewables will also play a key role in powering the data centers of next-generation computing, analysts say. The U.S. has seen a surge in proposed data centers over the past year. As of July 2024, Wood Mackenzie had identified about 50 gigawatts (GW) of proposed data…

The energy transition through the perspective of the power sector came into view last week at the annual Middle East Energy conference and exhibition in Dubai. What appeared was a region ready to think about leveraging its growing array of renewable energy resources to maintain its role as a leading energy exporter. Exports of power from the Gulf’s thriving renewables sector, to countries needing more clean power to meet climate goals, could become an important driver of the region’s economic growth. Conference participants expressed…

Their names are difficult to pronounce, they're essential for modern manufacturing, and they're increasingly at the center of the escalating trade war between the United States and China. The global supply of these rare earths -- an essential group of 17 elements that find themselves in everything from electric vehicle batteries to vital defense technology -- are also mostly controlled by China. Beijing is now looking to use that strategic leverage amid the growing trade spat and rising tensions with Washington. In response to recently imposed…

Many thought that green hydrogen would be a silver bullet for decarbonization, particularly in hard-to-abate industries. But the green hydrogen revolution has not yet materialized as the fuel’s production remains expensive and economically inefficient. But a new breakthrough in hydrogen harvesting could put the sector back on track for major industry disruption. Green hydrogen is lauded as a potential game-changer for clean energy because it can be combusted at high heat like fossil fuels to power sectors like steelmaking, shipping, and transport.…

In a new note out this week, Deutsche Bank laid out how it believes auto OEMs are going to shift their businesses to adapt to tariffs.  Deutsche Bank reports that automakers (OEMs) are adopting a wide range of strategies to navigate the uncertainty—adjusting pricing, incentives, and production plans on a rolling basis. The situation remains highly fluid, with the Trump administration recently floating the possibility of temporarily suspending tariffs to allow more time for OEMs to adjust. However, Deutsche Bank emphasizes that the market…

The total number of active drilling rigs for oil and gas in the United States rose this week following the recent price slide, according to new data that Baker Hughes published on Thursday, following a large 7-rig dip in the prior week. The total rig count in the US rose by 2 to 585 rigs, according to Baker Hughes, down 34 from this same time last year. The number of oil rigs rose by 1 to 481—down by 30 compared to this time last year. The number of gas rigs also rose by 1 this week, to 98 for a loss of 8 active gas rigs from this time last…

Via Metal Miner The Construction MMI (Monthly Metals Index) broke out of its over 6-month-long sideways trend to pivot down 5.41%. This new movement outside of its sideways range could indicate more volatility in the short term than the index experienced in the past 12 months. The new Trump tariffs on China caused some volatility in the price of construction materials, including H-beam steel and steel rebar. If the U.S. and China fail to negotiate these new policies, the index will likely remain unpredictable for the short term.. The U.S. construction…

If Big Oil was starting to feel good about its government-sponsored climate-era glow-up, they may be in for a rude awakening, with the U.S. Energy Department reportedly preparing to pull the plug on nearly $10 billion in clean-energy funding, according to new memos seen by the Wall Street Journal. The DOE’s move could put everything from hydrogen hubs to carbon capture collaborations in the crosshairs—yes, even those buzzy projects with ExxonMobil and Occidental. According to internal memos making the rounds, the cuts could gut two…

Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest private port operator, has announced a $2.4-billion non-cash deal to acquire the North Queensland Export Terminal (NQXT) in Australia, as Adani seeks to jumpstart its global expansion plans. Adani ports CEO Ashwani Gupta described as “pivotal” the transaction, which involves the issuance of 14.38 crore equity shares to Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), a related entity controlled by the Adani family. The share-swap deal values NQXT at around…

If Big Oil was starting to feel good about its government-sponsored climate-era glow-up, they may be in for a rude awakening, with the U.S. Energy Department reportedly preparing to pull the plug on nearly $10 billion in clean-energy funding, according to new memos seen by the Wall Street Journal. The DOE’s move could put everything from hydrogen hubs to carbon capture collaborations in the crosshairs—yes, even those buzzy projects with ExxonMobil and Occidental. According to internal memos making the rounds, the cuts could gut two…

High-level officials from key European countries, the United States, and Ukraine are gathering in Paris, days after the latest direct talks between Washington and Moscow that are aimed at ending the war between Russia and Ukraine, Europe's biggest conflict since the end of World War II. The talks are a first chance for face-to-face meetings between senior European and Ukrainian leaders and US Special Envoy Steve Witkoff since his latest meeting with Russian President Vladimir Putin last week. Moscow has failed to sign on to a broad cease-fire agreement…

South Korea will leverage shipbuilding capabilities and the potential to buy more U.S. LNG in upcoming talks on the tariffs next week, South Korea’s Foreign Minister Cho Tae-yul said on Thursday. The tariff on South Korea, which U.S. President Donald Trump announced on the so-called “liberation day” on April 2, was at 25%, lower than for some other Asian countries but much higher than a baseline 10% tariff. The so-called ‘reciprocal tariffs’ were suspended last week for 90 days, during which countries plan to plead…

South Korea will leverage shipbuilding capabilities and the potential to buy more U.S. LNG in upcoming talks on the tariffs next week, South Korea’s Foreign Minister Cho Tae-yul said on Thursday. The tariff on South Korea, which U.S. President Donald Trump announced on the so-called “liberation day” on April 2, was at 25%, lower than for some other Asian countries but much higher than a baseline 10% tariff. The so-called ‘reciprocal tariffs’ were suspended last week for 90 days, during which countries plan to plead…

South Korea will leverage shipbuilding capabilities and the potential to buy more U.S. LNG in upcoming talks on the tariffs next week, South Korea’s Foreign Minister Cho Tae-yul said on Thursday. The tariff on South Korea, which U.S. President Donald Trump announced on the so-called “liberation day” on April 2, was at 25%, lower than for some other Asian countries but much higher than a baseline 10% tariff. The so-called ‘reciprocal tariffs’ were suspended last week for 90 days, during which countries plan to plead…

South Korea will leverage shipbuilding capabilities and the potential to buy more U.S. LNG in upcoming talks on the tariffs next week, South Korea’s Foreign Minister Cho Tae-yul said on Thursday. The tariff on South Korea, which U.S. President Donald Trump announced on the so-called “liberation day” on April 2, was at 25%, lower than for some other Asian countries but much higher than a baseline 10% tariff. The so-called ‘reciprocal tariffs’ were suspended last week for 90 days, during which countries plan to plead…

For years, BP has been tipped as a potential target of the next mega-merger deal in the oil industry. Speculation about a blockbuster acquisition involving BP resurfaced again this year after activist hedge fund Elliott bought nearly 5% in the UK-based supermajor and demanded changes, big and fast. BP’s shares have underperformed the stocks of the other four of the Big Oil group – Shell, TotalEnergies, ExxonMobil, and Chevron – ever since 2020. Neither former BP CEO Bernard Looney, with the push toward renewables, nor his successor…