Author: Graham Foster

Donald Trump’s recent return to the White House has raised concerns among U.S. investors regarding the future of federal infrastructure funding, estimated to exceed $300 billion. Following his inauguration, Trump moved swiftly to roll back many of President Joe Biden’s climate-focused policies. On his first day in office, Trump signed multiple executive orders that halted funding to manufacturers and infrastructure developers, effectively overturning key provisions of Biden’s major legislative efforts, including the Inflation Reduction Act and a bipartisan infrastructure law. These actions impact nearly $50 billion in already approved loans by the Department of Energy, along with an additional $280…

Summary: President Donald Trump started his second term recently by signing several executive orders. One of these orders halts all federal waters from being considered for offshore wind leasing and pauses the approval of all wind projects, both onshore and offshore. The Secretary of the Interior, Doug Burgum, a former governor of North Dakota, will oversee a full review of how the government leases and permits these wind projects. The order points to possible legal issues with the government’s approach to leasing and permitting for wind projects, expressing worries about navigational safety, transportation, national security, commercial interests, and marine wildlife.…

The world’s leading offshore wind developer, Ørsted, has reported significant financial losses in its US division, causing its stock prices to fall steeply. The company’s recent announcement of a DKr12.1 billion ($1.7 billion) impairment is attributed to several challenging factors, including rising interest rates, supply chain issues, and uncertainties in the market impacting the value of its seabed leases. As a result, Ørsted’s shares dropped over 17% when trading began on Tuesday, contributing to a year-long decline in its stock value. This news arrived shortly after Donald Trump’s inauguration, which has cast a shadow over the future of the renewable…

The world’s largest oil companies are likely to see a decrease in their liquefied natural gas (LNG) revenues this year. This decline comes as the market stabilizes after a period of high volatility that had boosted profits following Russia’s invasion of Ukraine in February 2022. Since the conflict began, LNG trading volumes have surged to new highs, as this super-chilled fuel has replaced much of the gas that traditionally flowed from Russia to Europe via pipelines. However, analysts predict that revenues from LNG trading, which largely depend on price fluctuations, will begin to drop in 2025 as the market returns…

Thames Water is facing a new legal challenge as it seeks to secure an emergency loan of up to £3 billion. Environmental activists are arguing that the heavily indebted utility should be temporarily renationalised instead. The group known as “Windrush against Sewage Pollution” plans to present its case in court this February. A judge will then determine whether to approve the proposed loan which is aimed at giving Thames Water some breathing space to restructure its substantial £19 billion debt. The loan is offered by a group of existing creditors, including prominent hedge funds like Elliott Management. It carries a…

In the first edition of Energy Source from New York, we explore the latest developments in the energy sector. President Donald Trump has made headlines with a series of ambitious proposals on his first day in office. He announced plans to declare a “national energy emergency,” aiming to increase oil and gas production, cut prices for consumers, and expand energy exports from the United States. Trump emphasized the importance of tapping into natural resources, referring to oil as “liquid gold,” and highlighted his commitment to “drill, baby, drill” as part of his vision for U.S. energy dominance. He promised to…

Venture Global, a major player in the U.S. liquefied natural gas (LNG) market, is planning to go public with an impressive valuation of $110 billion. This move comes as the industry anticipates a surge in fuel shipments, particularly with the new political environment following the Donald Trump administration’s focus on energy exports. The company intends to offer 50 million shares, priced up to $46 each, which could result in raising as much as $2.3 billion. This would be one of the largest energy listings in recent years, marking a significant milestone for the sector. This public offering aligns with expectations…

Donald Trump has issued a warning to the European Union (EU) about a potential trade war unless it increases its purchases of US oil and gas. Although Brussels has shown some willingness to cooperate, its ability to act on this matter remains limited, especially as European nations have been importing substantial amounts of less expensive liquefied natural gas (LNG) from Russia. As the inauguration of the new president approaches, the challenge of whether Europe can collectively boost its purchase of American energy has become a significant topic in transatlantic relations. Trump expressed his demands for increased oil and gas purchases…

One of the largest energy companies in the United States is facing increasing pressure to cease its activities in Russia. This comes after the Biden administration instituted significant new sanctions targeting Russia’s oil sector. U.S. Congress members Lloyd Doggett and Jake Auchincloss have urged SLB, previously known as Schlumberger, to withdraw from Russia to avoid violating U.S. sanctions. Their remarks followed a recent announcement from the Biden administration that prohibits American petroleum services from being offered to entities in Russia, effective from February 27. SLB, the world’s largest oilfield services provider, is among the few American oil firms still active…

Gary Nagle, the CEO of Glencore, emphasized the necessity for consolidation in the mining industry during a conference last October. He suggested that fewer, larger companies would be better suited to meet the challenges of the future. At the event, hosted by Goldman Sachs during LME Week, Nagle shared the stage with Jakob Stausholm, the CEO of Rio Tinto, as the two companies were reportedly in talks merging aspects of their businesses into a mining powerhouse valued at $160 billion. Glencore’s approach of “bigger is better” has positioned it as a prominent player in the mining sector, regardless of the…