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Energy Ministers of Saudi Arabia, Iraq and Libya Discuss Market Stability

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Saudi Energy Minister Prince Abdulaziz bin Salman held talks on Monday with his Iraqi and Libyan counterparts, Hayan Abdel-Ghani and Khalifa Abdulsadek, in Riyadh on efforts to support the stability of global energy markets, the Saudi state news agency (SPA) reported. OPEC+, which groups the de facto Saudi-led Organization of the Petroleum Exporting Countries and …

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Germany’s Scholz Welcomes U.S. Turnaround in Energy Policy, Handelsblatt Reports

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German chancellor Olaf Scholz has welcomed U.S. President Donald Trump’s plans for more oil and gas exports, saying it was “good for Europe and Germany,” German newspaper Handelsblatt reported on Sunday. Scholz said in the interview the move would help in the transition phase towards climate neutrality, which would last until around the middle of …

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TRUMP’S “UN” TRUTH ABOUT CANADA – U.S. TRADE – A Deeper Dive on the Tos and Fros Between Two Countries – William Lacey

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The biggest lesson from all this is that Canada must find a way to diversify its trade, especially when it comes to energy. Canada needs to build more pipelines, diversify its customer base, and start acting like a country that is looking out for everyone, not just its own self interest. William Lacey Thanks for …

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EU Open to US Energy, Arm Sales Talks to Stave Off Tariffs

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(Reuters) – The European Union is open to discussing purchases of energy and arms from the United States to ward off tariffs that President Donald Trump has threatened to impose on the bloc, EU’s top economy official said on Thursday. Trump has vowed to address a long-running deficit in goods trade with the EU, either …

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Putin Growing Concerned by Russia’s Economy, as Trump Mulls More Sanctions

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(Reuters) – President Vladimir Putin has grown increasingly concerned about distortions in Russia’s wartime economy, just as Donald Trump pushes for an end to the Ukraine conflict, five sources with knowledge of the situation told Reuters. Russia’s economy, driven by exports of oil, gas and minerals, grew robustly over the past two years despite multiple …

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Saudi Foreign Minister Says Trump Does Not Raise Risk of Iran-Israel War

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(Reuters) – Saudi Arabia’s foreign minister said on Tuesday he did not see Donald Trump’s new administration increasing the risk of an Israel-Iran conflict, addressing an issue the region has feared since the start of Israel’s war in Gaza. Prince Faisal bin Farhan Al Saud also said in Davos that he hoped President Trump’s approach …

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Aramco Chief Expects Additional Oil Demand of 1.3 Million Bpd This Year

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Summary • Will wait and see impact of sanctions on Russia tankers • Kingdom takes market balance into account when setting output • Looking to expand LNG position globally (Reuters) – Saudi oil giant Aramco’s Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million …

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Giant Batteries Are Transforming the World’s Electrical Grids

Batteries, CDN and International News, Energy Topics & Technology, Latest / By

Global energy storage capacity has tripled in recent years, thanks to an industry that barely existed a decade ago. Illustration: Jay Daniel Wright for Bloomberg Businessweek By David R Baker Inside an unmarked stucco building in a Silicon Valley office park, more than 1,000 black metal cabinets, each about the size of a fridge, line …

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IMF Lowers 2025 Saudi Arabia Growth Forecast on Extended Oil Production Cuts

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(Reuters) – The International Monetary Fund has lowered its 2025 GDP growth projection for Saudi Arabia to 3.3%, mainly due to extended oil production cuts, it said on Friday in the latest update to its global outlook. It also trimmed its 2024 growth estimate for the Gulf state to 1.4%. In its October Regional Economic …

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Kremlin Says US Stance on Russian Oil Sanctions Unlikely to Change

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(Reuters) – The Kremlin said on Friday it does not expect the United States to soften its position on sanctions against Russian oil once President-elect Donald Trump takes office, despite his administration’s readiness for dialogue on the Ukraine war. Kremlin spokesman Dmitry Peskov was commenting on remarks by Trump’s choice for Treasury Secretary, Scott Bessent, …

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