The U.S. Nuclear Regulatory Commission on Thursday granted multiple licensing and regulatory approvals necessary for the 800-MW Palisades nuclear plant in Michigan to restart operations later this year. Palisades is now authorized to receive new fuel and formally transition licensed reactor operators to on-shift status, Holtec International said in a statement. The company is leading the effort to restart the plant.   “The NRC’s approval to transition Palisades back to an operating license represents an unprecedented…

The United States electric vehicle industry is facing a rough road ahead. The Trump administration has long promised to walk back a number of Biden administration policies aimed at climate change targets, including those designed to boost electric vehicle adoption. In light of the changing policy climate, BloombergNEF has lowered both its near- and long-term outlooks for EV sales in the United States for the first time ever, while the rest of the world’s numbers continue to climb. BloombergNEF cut 14 million battery-powered cars from its…

The Trump administration has formally scrapped a trio of policy documents that imposed new limitations on oil and gas development in Alaska’s National Petroleum Reserve (NPR-A), the DOI said on Monday, clearing the decks for a new wave of drilling across the 23-million-acre expanse. This marks the latest salvo in Trump’s aggressive energy dominance strategy—and a direct reversal of Biden-era efforts to wall off roughly 10.6 million acres from future leasing. At the heart of the move is a power shift: taking discretion out of the…

The Trump administration has formally scrapped a trio of policy documents that imposed new limitations on oil and gas development in Alaska’s National Petroleum Reserve (NPR-A), the DOI said on Monday, clearing the decks for a new wave of drilling across the 23-million-acre expanse. This marks the latest salvo in Trump’s aggressive energy dominance strategy—and a direct reversal of Biden-era efforts to wall off roughly 10.6 million acres from future leasing. At the heart of the move is a power shift: taking discretion out of the…

When predicting which country would be the next to join the European Union, the smart money seems to be on Montenegro given that it has been negotiating for years and has advanced the furthest of all candidates. Others point to Albania, which is currently making great strides toward Brussels as the next member. There are also some who think that Moldova -- a reform-oriented and ambitious country in the bloc’s eastern neighborhood -- stands a decent chance of becoming EU member state number 28 in the coming year. But the right answer may actually…

Via Metal Miner   In the end, China exceeded market expectations, posting a 5.2% year-on-year growth on July 14 compared to the market forecast of 5%. According to the economic data released by the National Bureau of Statistics, strong trade and industrial production helped to propel growth, indicating that China has braved the tariff war unleashed by the United States. Meanwhile declining steel prices seem to indicate A Strong Monday Showing for Iron Ore It was this very expectation of a 5% growth in Q2 that iron ore traders were banking…

Venture Global has officially reached a final investment decision and financial close for Phase 1 of its CP2 LNG project and the associated CP Express Pipeline, securing $15.1 billion in debt-only financing, the company said on Monday. The move formally launches the company’s third LNG export project and puts it on track to become the largest U.S. LNG exporter by capacity. CP2’s Phase 1, expected online in 2027, will add up to 28 million tonnes per annum (MTPA) of peak output. Long-term contracts are already locked in with buyers across…

U.S. liquefied natural gas exporters pushed higher Monday following the European Union’s announcement of a $750?billion energy purchasing framework for the next three years, heavily focused on LNG. But signals from natural gas futures and producers like EQT suggest near-term sentiment is more cautious than heady. Cheniere Energy (LNG)—America’s flagship LNG exporter—rose about 1.7%, trading at $229.23, as renewed optimism over long-term European contracts fueled buying. The stock had earlier popped around 4%, with some profit-taking…

U.S. liquefied natural gas exporters pushed higher Monday following the European Union’s announcement of a $750?billion energy purchasing framework for the next three years, heavily focused on LNG. But signals from natural gas futures and producers like EQT suggest near-term sentiment is more cautious than heady. Cheniere Energy (LNG)—America’s flagship LNG exporter—rose about 1.7%, trading at $229.23, as renewed optimism over long-term European contracts fueled buying. The stock had earlier popped around 4%, with some profit-taking…

There was a time when Europe broadly was in favour not just of the Joint Comprehensive Plan of Action (JCPOA, colloquially ‘the nuclear deal’) but also of continuing with it even after the U.S.’s unilateral withdrawal from the arrangement on 8 May 2018. This was based partly on long-running historical ties between France (one of the three key economic and political powerhouses of the continent, along with Germany and Great Britain) and the pre- and post-1979 Islamic Revolution regimes, and Germany’s considerable commercial…

Electric transformers aren't something most people think about unless one attached to the power lines serving their home or business is damaged, resulting in a power outage. Most of the time, power comes back on quickly, indicating that the transformers were not the problem. It takes longer to replace a transformer damaged beyond repair. And that can be a problem if large numbers of transformers are damaged at once such as occurred in the recent California wildfires. That's because the waiting time for new transformers is now 127 weeks. In…

U.S. crude oil production from onshore federal lands hit a record 1.7 million barrels per day (bpd) in 2024, according to the EIA and the Department of the Interior. That’s a sixfold jump since 2008—far outpacing the broader rise in national crude output, which nearly tripled to 13.2 million bpd over the same period. The driver? An explosion of activity in New Mexico’s portion of the Permian Basin, where leasing, permitting, and drilling have surged in recent years. From FY2020 through FY2023, New Mexico accounted for the majority…

OPEC+ stuck to the script at Monday’s Joint Ministerial Monitoring Committee (JMMC) meeting, offering no changes to current output policy and little surprise for market watchers. The virtual meeting—its 61st—reviewed production data from May and June and confirmed what most already suspected: while the group remains on track with its broad plans, not every member is keeping pace. The committee emphasized once again the “critical importance” of full conformity with the agreed production levels, especially in light of…

Ahead of trade talks in Stockholm that are set to begin today, The South China Morning Post reports that, according to sources close to the matter on both sides, the US and China are set to extend their tariff truced by another three months. China and the United States agreed in May to remove most of the heavy tariffs levied on each other's goods for 90 days while continuing trade negotiations. That suspension is set to expire on August 12. SCMP reports that one source said that, during the expected 90-day extension, the two nations will commit…

Shares of U.S. LNG producers jumped in early trading Monday after the European Union agreed to dramatically increase its energy imports from the United States, pledging $250 billion in annual purchases under a new transatlantic trade framework. The move includes LNG, oil, and nuclear energy and was announced in Brussels earlier today. Cheniere Energy, NextDecade, and Venture Global were among the biggest pre-market gainers, with some stocks rising as much as 8.8% before the U.S. market opened. Analysts cited expectations of increased long-term…

Shares of U.S. LNG producers jumped in early trading Monday after the European Union agreed to dramatically increase its energy imports from the United States, pledging $250 billion in annual purchases under a new transatlantic trade framework. The move includes LNG, oil, and nuclear energy and was announced in Brussels earlier today. Cheniere Energy, NextDecade, and Venture Global were among the biggest pre-market gainers, with some stocks rising as much as 8.8% before the U.S. market opened. Analysts cited expectations of increased long-term…

Shares of U.S. LNG producers jumped in early trading Monday after the European Union agreed to dramatically increase its energy imports from the United States, pledging $250 billion in annual purchases under a new transatlantic trade framework. The move includes LNG, oil, and nuclear energy and was announced in Brussels earlier today. Cheniere Energy, NextDecade, and Venture Global were among the biggest pre-market gainers, with some stocks rising as much as 8.8% before the U.S. market opened. Analysts cited expectations of increased long-term…

Saudi Arabia is expected to raise the official selling price (OSP) of Arab Light crude to Asia for September-loading cargoes, according to trading sources cited Monday by Reuters. The anticipated hike would mark a second consecutive monthly increase as regional refining margins strengthen and domestic crude burn limits outbound volumes. Forecasts suggest Arab Light’s premium may rise by $0.90 to $1.05 per barrel over the Oman/Dubai average, placing the final differential in the range of $3.10 to $3.25, trading desks told Reuters. Other grades,…

Oil prices moved higher in early Asian trade on Monday after the U.S. and EU reached a tariff agreement, averting a major trade war. The framework sets U.S. tariffs on most EU goods at 15%, down from previously threatened levels, and includes EU commitments to purchase U.S. energy and invest in American industry. The agreement helped shore up demand sentiment—but traders remain cautious ahead of what is set to be a big week for oil prices. Attention now turns to the OPEC+, with a Joint Ministerial Monitoring Committee convening on Monday…

The United States and European Union officially reached a tariff agreement on Sunday, averting a potentially crippling transatlantic trade war. Following months of contentious negotiations, U.S. President Donald Trump and European Commission President Ursula von der Leyen announced the deal at Trump’s Turnberry golf resort in Scotland. The announcement sent oil prices higher on Monday, with West Texas Intermediate (WTI) crude rising to $65.52 and Brent crude climbing to $68.84. Market optimism was buoyed by the expectation of increased U.S.…