The UK is set to become the first European country to welcome Waymo’s driverless taxis but lawyers caution that current laws are fundamentally incompatible with the technology. Last week, Waymo announced its UK launch will start with a small fleet of human-supervised Jaguar I-PACE electric vehicles “in the coming weeks,” before moving to fully autonomous operations by 2026. Waymo’s Ethan Teicher told City AM, “We’ll start with a small fleet and gradually expand, working closely with the Department for Transport…

The fight over Venezuela’s last major foreign asset just got nastier. Lawyers for Citgo Petroleum and its owner, PDV Holding, told a Delaware court this week that Elliott Management’s affiliate Amber Energy shouldn’t even be in the running for Citgo’s parent company—calling its bid “so low it shocks the conscience.” What began nearly six years ago as a straightforward plan to settle old creditor claims has turned into something else entirely — a slugfest over conflicts of interest, political meddling,…

The fight over Venezuela’s last major foreign asset just got nastier. Lawyers for Citgo Petroleum and its owner, PDV Holding, told a Delaware court this week that Elliott Management’s affiliate Amber Energy shouldn’t even be in the running for Citgo’s parent company—calling its bid “so low it shocks the conscience.” What began nearly six years ago as a straightforward plan to settle old creditor claims has turned into something else entirely — a slugfest over conflicts of interest, political meddling,…

The Automotive MMI (Monthly Metals Index) moved sideways, rising a slight 1.39%. As a whole, the US automotive market is facing a number of challenges necessitating both innovation and resilience. Why Are Critical EV Minerals in Short Supply? Automakers are grappling with shortages of critical minerals needed for electric vehicles and high-tech components. Rare earth minerals are a prime example. This set of 17 metallic elements is integral to many car parts, from EV motors and batteries to windshield wipers and speakers. CBS News reports that…

Halliburton Company (NYSE: HAL) saw its third-quarter earnings top Wall Street expectations on steady drilling and stimulation demand in North America. Halliburton, the oilfield services giant with the highest exposure to the U.S. fracking market, on Tuesday reported an adjusted net income of $0.58 per diluted share for the third quarter. That’s down from $0.73 a year earlier, but higher than the $0.55 EPS for the second quarter and the $0.50 per share income expected for Q3 in an analyst consensus in The Wall Street Journal. Halliburton’s…

Halliburton Company (NYSE: HAL) saw its third-quarter earnings top Wall Street expectations on steady drilling and stimulation demand in North America. Halliburton, the oilfield services giant with the highest exposure to the U.S. fracking market, on Tuesday reported an adjusted net income of $0.58 per diluted share for the third quarter. That’s down from $0.73 a year earlier, but higher than the $0.55 EPS for the second quarter and the $0.50 per share income expected for Q3 in an analyst consensus in The Wall Street Journal. Halliburton’s…

A Ukrainian drone attack on a gas plant in Russia's Orenburg, one of the largest facilities of its kind in the world, continues to impact production in neighboring Kazakhstan as the European Union moves to phase out Russian gas imports by the end of 2027.Intake at the Kazakh facility, according to the Central Asian country's Energy Ministry, was suspended after the October 19 attack, the first reported strike on the plant, which forms part of the Orenburg gas chemical complex that is operated by the Russian state energy giant Gazprom.Reuters quoted…

We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy.Turkey and India ramp up fuel supply to the EU- The European Union has finally shed light on the details of its upcoming import ban on refined products made from Russian crude, tightening the screws for Turkish and Indian exporters eyeing European markets.- Effective from January 21, 2026, fuel importers in EU member states will…

China’s wind and solar equipment giant Mingyang Smart Energy Group is developing a 50-megawatt (MW) offshore wind turbine that would be the world’s most powerful and exceed current single-turbine capacity by a mile.  Mingyang is working on the two-headed 50-MW turbine, which is planned to enter mass production next year, the company’s chairman Zhang Chuanwei told a group of reporters at an industry conference in Beijing, as carried by Bloomberg. In a first phase of the project, Mingyang plans to start manufacturing in 2026…

China’s wind and solar equipment giant Mingyang Smart Energy Group is developing a 50-megawatt (MW) offshore wind turbine that would be the world’s most powerful and exceed current single-turbine capacity by a mile.  Mingyang is working on the two-headed 50-MW turbine, which is planned to enter mass production next year, the company’s chairman Zhang Chuanwei told a group of reporters at an industry conference in Beijing, as carried by Bloomberg. In a first phase of the project, Mingyang plans to start manufacturing in 2026…

China’s wind and solar equipment giant Mingyang Smart Energy Group is developing a 50-megawatt (MW) offshore wind turbine that would be the world’s most powerful and exceed current single-turbine capacity by a mile.  Mingyang is working on the two-headed 50-MW turbine, which is planned to enter mass production next year, the company’s chairman Zhang Chuanwei told a group of reporters at an industry conference in Beijing, as carried by Bloomberg. In a first phase of the project, Mingyang plans to start manufacturing in 2026…

For years, Canada’s oil and gas sector was plagued by pipeline shortages that severely limited the country’s capacity for export and forced producers to sell at a major discount as storage capacity became maxed out across the nation. But all of that changed when the Trans Mountain Expansion project finally came online after years of delays on May 1, 2024. Now, suddenly, Canada is a major competitor in global markets, with the ability to ship crude directly from Vancouver to Asian ports. The resulting trade boom reflects a monumental…

Last year, China's battery industry average utilization rate cratered to just a third of maximum capacity amid severe overcapacity following years of massive investment and expansion. This put smaller manufacturers under severe pressure and fueled further industry consolidation, while also forcing producers to increasingly seek overseas markets. Luckily, these efforts appear to be paying off: China Energy Storage Alliance has reported that Chinese battery storage forms secured ~200 overseas orders totalling 186 gigawatt-hours (GWh) in the first…

The escalating geopolitical competition over critical mineral supply chains has driven a major corporate maneuver, as REalloys Inc., a company focused on establishing a North American mine-to-magnet rare earth pipeline, announced it has appointed Stephen S. duMont, president of GM Defense, as its non-executive chairman of the board of directors. The move links one of North America’s leading defense industry figures directly to the effort to secure the materials essential for advanced military and green energy technologies. REalloys, which…

For decades, Canadian oil exporters have only had one destination: south of the border. Yet things are changing. There’s a new big buyer in town, and it’s buying a lot: China. Canadian crude oil flows abroad began to change direction earlier this year, after the trade dispute ignited by U.S. President Trump prompted exporters to seek new markets, conveniently made more easily accessible by the expanded Trans Mountain pipeline. The pipeline went into operation with its new capacity of 890,000 barrels daily in 2024. Between the launch…

Don’t get us wrong. We favor a coherent, forward looking national energy policy. One that limits our dependence on foreign resources for reasons of national security, encourages economical use of affordable energy, and helps build a financially strong energy industry that can compete in world markets. Let’s concentrate on these adjectives: “coherent,” “forward looking”and “financially strong” because they go together. Investors want a consistent and forward looking policy. They do not want to tie…

Donald Trump’s U.S. Presidency 2.0 differs in one great respect from the 1.0 beta version. The aim is the same – to cement his country as the leading superpower on the planet – but the approach in dealing with America’s rivals has a sharper edge. Nowhere has this been more clearly seen than in his administration’s dealings with the self-appointed leader of the alternative new world order, China. The imposition of further sanctions on more of Beijing’s key mechanisms for effectively continuing to bankroll Iran…

The last decade has been especially grueling for Ecuador’s economically vital oil industry. Plummeting investment, heavily corroded infrastructure, endemic corruption, violent protests, severe oil spills and rising insecurity are all weighing on operations. The sharp decline in oil production is weighing heavily on government finances at a time of increased spending due to a national security crisis. To rescue the economically crucial industry and boost fiscal revenue, President Daniel Noboa launched a $47 billion plan to revive Ecuador’s…

There is a high-stakes global race underway to unlock a long-term energy storage technology with the potential to corner what is sure to be one of the energy sector’s hottest new markets. Venture capital is catching on quickly to “clean energy’s next trillion-dollar business” and pouring billions into finding new and innovative energy storage solutions.  Currently, the energy storage sector is dominated by lithium-ion batteries. Lithium is extremely energy-dense and performs exceptionally well in cold weather, making…

Shadow energy secretary, Claire Coutinho, has claimed that Labour’s net zero targets” are not helping” the UK’s economy. In an interview with Sky News’ Trevor Phillips, Countinho linked the government’s climate targets to the ongoing cost of living crisis. She said: “We’ve said we would repeal the climate change target, and we actually think the net zero targets are a problem” Her comments follow Conservative leader Kemi Badenoch pledging to scrap the Climate Change Act, which created the framework…