Over the past three years, Western OEMs have retrenched to core markets, aiming to restore profitability after years of margin pressure. Input costs declined in 2024, but turbine prices continued to rise, helping Western OEMs improve their earnings. Still, CAPEX remains a central concern for developers, especially as interest rates stay elevated. In China, manufacturers responded to the phase-out of feed-in tariffs by introducing larger turbine models to keep costs down. This intensified domestic competition and led to falling turbine prices -…

Financial hubs are ditching green finance, fresh research shows, after President Donald Trump’s return to the White House triggered a global retreat.  Centres across the world had their green finance rating reduced in the 15th edition of Z/Yen Global Green Finance Index (GFFI). Despite topping the index, London’s rating reduced 36 points to 598.  Zurich and Singapore scored second and third at 597 and 592 respectively.  Professor Michael Mainelli, former Lord Mayor and chairman of the Z/Yen Group, said: “US influence,…

In the space of ten days, U.S. Energy Secretary Chris Wright has gone from full-throttle shale hype-man to waving the red flag on oil prices. Today’s bombshell? “$50 oil is not sustainable for producers,” Wright said, according to Bloomberg’s Stephen Stapczynski. US ENERGY SEC. WRIGHT: $50 OIL IS NOT SUSTAINABLE FOR PRODUCERS TODAY — Stephen Stapczynski (@SStapczynski) April 24, 2025 Because earlier this month—ten days ago—Wright told the Financial Times that shale could boost production even at $50 oil,…

A somewhat cryptic social media post by the US Embassy in Armenia indicates the United States is maneuvering to build the Caucasus state’s next nuclear reactor. The awkwardly phrased information snippet appearing on the embassy’s official Facebook and Twitter (X) pages April 22 states Ambassador Kristina Kvien “met Westinghouse to discuss Armenia’s nuclear energy sector,” adding only that “U.S. companies have deep expertise and innovative technology that will benefit both Armenia and the United States.”…

China's halt on a wide range of critical minerals and magnet exports in retaliation for U.S. tariffs has disrupted some of Elon Musk's plans to build humanoid robots. The very act of Beijing choking off supplies of critical components highlights the urgent need to friendshore or reshore rare earths mining and refining, as well as advanced technology supply chains, if the U.S. hopes to maintain its dominance into the 2030s.  On Tuesday, Musk revealed during Tesla's earnings call that plans to build humanoid robots had hit a snag due to Beijing's…

Washington is eying the possible creation of an American sovereign wealth fund (SWF) to compete with China’s state-controlled extractive industries by directly investing in miners, both domestic and foreign, as the administration scrambles to collect new critical minerals allies.  The plan, revealed Thursday by Interior Secretary Doug Burgum, who is advising the campaign on energy and national security, would mark a dramatic shift in how Washington supports resource development. “We should be buying equity in these companies,”…

Russia is expected to see its oil and gas revenues for April slump by 22% from a year ago, amid lower oil prices and a stronger local currency, according to Reuters calculations. Russia’s revenues from hydrocarbons are set to be about $11.6 billion (960 billion Russian rubles) in April, also due to lower profit-based taxes compared to the previous month, per the estimates by Reuters published on Thursday. Official data from Russia’s finance ministry is expected on May 7. In March, Russian revenues from oil and gas plunged by 17% from…

An Easter truce that wasn’t. The United States threatening to walk away from peace talks. Washington considering recognizing Russian control over Ukraine’s Crimea. Russia and Ukraine ramping up new spring offensives. The Kremlin signaling no let-up in its 38-month-old invasion of its neighbor. Talks scheduled for April 23 in London to try and resolve Russia's 38-month war on Ukraine were already facing serious headwinds. Now the most senior officials scheduled to attend -- US Secretary of State Marco Rubio, reportedly British Foreign…

Oil prices rose early on Thursday, recouping some of Wednesday’s losses, after signs emerged that there could be some tariff and trade talks between the United States and China.   As of 9:28 a.m. EDT on Thursday, the U.S. benchmark, WTI Crude, was up by 0.95% on the day and traded at $62.86. The international benchmark, Brent Crude, traded 0.7%% higher at $66.58.   Much of the market movement in recent hours was due to remarks from Washington and Beijing, hinting at possible de-escalation in the trade war and a potential…

Oil prices rose early on Thursday, recouping some of Wednesday’s losses, after signs emerged that there could be some tariff and trade talks between the United States and China.   As of 9:28 a.m. EDT on Thursday, the U.S. benchmark, WTI Crude, was up by 0.95% on the day and traded at $62.86. The international benchmark, Brent Crude, traded 0.7%% higher at $66.58.   Much of the market movement in recent hours was due to remarks from Washington and Beijing, hinting at possible de-escalation in the trade war and a potential…

Amid the oil price crash and macro headwinds, Eni SpA (NYSE: E) on Thursday reduced its capital expenditure plans for 2025 and vowed to cut more costs as it maintained the planned shareholder distributions such as dividend and buybacks.  The Italian energy major reported an adjusted net profit of $1.6 billion (1.41 billion euros) for the first quarter of the year, down by 11% from the same period of 2024. The earnings beat a company-provided consensus forecast of $1.3 billion (1.15 billion euros).  Analysts are watching how oil majors…

Amid the oil price crash and macro headwinds, Eni SpA (NYSE: E) on Thursday reduced its capital expenditure plans for 2025 and vowed to cut more costs as it maintained the planned shareholder distributions such as dividend and buybacks.  The Italian energy major reported an adjusted net profit of $1.6 billion (1.41 billion euros) for the first quarter of the year, down by 11% from the same period of 2024. The earnings beat a company-provided consensus forecast of $1.3 billion (1.15 billion euros).  Analysts are watching how oil majors…

Oil prices climbed on Thursday as investors considered potential OPEC+ output hikes and positive US-China trade talk developments. Kazakhstan's deviation from OPEC+ quotas raises concerns about market stability and possible price wars. Uncertainty surrounding US-Iran nuclear talks and sanctions adds another layer of complexity to the oil market outlook. 1m ago 9:01am CST Energy Stocks Inch Higher, but Investors Remain Cautious Energy stocks rose on Thursday, tracking a partial recovery in oil prices, with Brent up 0.79% and WTI up 1.03% after a…

China continues to witness weak demand for liquefied natural gas and its LNG imports in April are estimated to be 20% lower than the volumes imported in the same month last year, Bloomberg reported on Thursday, citing data from analytics firm Kpler.  LNG import demand in China has been weaker this year amid comfortably full winter inventories. Chinese LNG imports are expected to drop in 2025, according to the latest estimates from BloombergNEF. China is set to see this year the first annual decline in LNG imports since 2022. So far in…

China continues to witness weak demand for liquefied natural gas and its LNG imports in April are estimated to be 20% lower than the volumes imported in the same month last year, Bloomberg reported on Thursday, citing data from analytics firm Kpler.  LNG import demand in China has been weaker this year amid comfortably full winter inventories. Chinese LNG imports are expected to drop in 2025, according to the latest estimates from BloombergNEF. China is set to see this year the first annual decline in LNG imports since 2022. So far in…

Chevron plans to begin drilling an exploration well offshore Namibia, where several international majors have found huge oil and gas resources in recent years.  Chevron Namibia Exploration Limited considers drilling the well in 2026 or 2027 in Petroleum Exploration License 82 in the Walvis Basin, Reuters quoted Chevron’s Namibian subsidiary as saying.   “With this programme, Chevron continues to activate its strong and growing exploration portfolio,” according to a company statement.  Chevron completed in February…

Importers of liquefied natural gas in Japan are bracing for the possibility that long-term supplies from one of the world’s top exporters could become uncertain. Australians are heading to the polls on May 3 and, according to Reuters, whichever party wins, there may well be less LNG for exports than before the elections. Australia has been balancing on the edge of a domestic natural gas shortage because of its prioritization of exports, and this has turned into a major election issue in the run-up to the May 3 vote. The current Labor government…

The Trump administration has shortened the approval procedure for new oil and gas projects to just 28 days—at most—from several years under the national energy emergency that the White House declared earlier this year. The new “emergency permitting procedures”, per the Department of the Interior, will cover not just oil and gas but uranium and critical minerals as well. The full list also includes coal, biofuels, geothermal energy, and kinetic hydropower. “The United States cannot afford to wait,” Secretary of…

The U.S. stock markets enjoyed a broad rally on Wednesday, with the S&P 500 jumping nearly 2% a day after U.S. President Donald Trump announced that China tariffs will come down substantially, with another potential boost coming from a Wednesday Reuters report citing unnamed sources as saying talks to lead to significant tariff reductions.  “It will come down substantially, but it won’t be zero,” Trump said on Tuesday, echoing earlier remarks by U.S. Treasury Secretary Scott Bessent. Less than a day later, reports emerged…

In January, China’s National Energy Administration said it was eyeing stable oil production of over 200 million tons in 2025. Two months later, oil production in the world’s largest importer of the commodity hit an all-time high of 4.6 million barrels daily, per official data. China is taking “Drill, baby, drill” to heart. It was Bloomberg’s energy columnist Javier Blas who cited the Chinese official oil production data. He also pointed out the rather ironic fact that while U.S. shale producers were hunkering down…