2025-11-24 22:11
Nov 24 (Reuters) - The U.S. Federal Energy Regulatory Commission, or FERC, said on Monday it has granted a five-year extension to complete construction of Sempra's (SRE.N) , opens new tab Cameron LNG export facility in Louisiana and place it into service. In October, Cameron LNG had filed an extension request for five years (until March 16, 2033) to complete construction and place the facility into service. Sign up here. Cameron LNG is majority-owned by Sempra Infrastructure and has helped the U.S. to become the world's leading exporter of superchilled gas since 2023. The LNG sector in the U.S. has seen a pick-up in commercial activity after President Donald Trump lifted a moratorium on new export permits soon after coming into office in January. https://www.reuters.com/business/energy/ferc-grants-five-year-extension-sempras-cameron-lng-project-louisiana-2025-11-24/
2025-11-24 21:47
BOGOTA, Nov 24 (Reuters) - Colombian state-run energy company Ecopetrol (ECO.CN) , opens new tab on Monday warned that natural gas supply to the country's northern and central regions could be at risk due to an ongoing roadblock at its Guajira field. The roadblock, which kicked off three weeks ago, could cause Ecopetrol to halt production at the site, which puts out 70 million cubic feet of gas per day, the firm said in a statement issued with subsidiary Hocol. Sign up here. Ecopetrol said that the situation has recently escalated, "putting at risk the physical integrity of the 26 workers who remain on-site." The Carrapinapule community, behind the roadblocks, is making demands directed at the state, Ecopetrol said, including on potable water, education and school transport. Colombia is facing a deficit in natural gas production, causing it to boost imports of the fuel to meet domestic demand. Commercialized production of natural gas fell more than 10% in September year-over-year to 814 million cubic feet per day, according to the national hydrocarbons agency. https://www.reuters.com/business/energy/colombias-ecopetrol-warns-possible-natural-gas-shortage-community-roadblocks-2025-11-24/
2025-11-24 20:53
Nov 24 (Reuters) - Canadian miner Barrick Mining (ABX.TO) , opens new tab has reached an agreement with Mali's government to resolve all their disputes over the Loulo-Gounkoto gold mining complex since 2023. The dispute was over the implementation of a new Mali mining code that raises taxes and gives the government a greater share of gold mines. Sign up here. The miner, formerly called Barrick Gold, said it will drop its arbitration case against Mali at the World Bank dispute tribunal. In return, Mali will drop all charges against Barrick and its affiliates, release the employees and give back operational control to the Canadian miner. Following is the timeline of the events: July 14, 2023: Mali's military-led government proposes changes to its mining law that would increase state and local interest in projects by 35%. September 27, 2024: Mali's military-led authorities arrest four employees of the miner for alleged financial crimes. October 8, 2024: Mali government seeks about 300 billion CFA ($512 million) from Barrick as unpaid dues. December 5, 2024: Mali issues an arrest warrant for Barrick's former CEO Mark Bristow, accusing him of money laundering and violating financial regulations. December 16, 2024: Barrick threatens to suspend its operations in Mali. December 18, 2024: Barrick launches arbitration against Mali at the International Centre for Settlement of Investment Disputes January 13, 2025: Mali's military-led government seizes 3 metric ton of gold from Barrick's mine January 14, 2025: Barrick suspends operations in Mali February 19, 2025: Barrick signs a new agreement with the Mali government to end an almost two-year-old dispute over its mining assets in the West African country. Deal falls through. 15 April 2025: Malian authorities shut Barrick's Bamako office over alleged unpaid taxes, and the government threatens to place the suspended Loulo-Gounkoto mine under provisional administration unless it reopens and tax payments are made. May 7, 2025: Barrick CEO Mark Bristow says it is spending $15 million a month to keep its Mali mine running and does not know where Mali's government is keeping the gold seized from the Canadian company. 11 June, 2025: Barrick removes Mali gold complex from its 2025 output forecast. 16 June, 2025: Loulo-Gounkoto mine in Mali placed under state control by a court 23 June, 2025: Malian tax officials reopen Barrick's Bamako office under a court-appointed administrator 8 July, 2025: The administrator of Loulo-Gounkoto complex plans to sell one metric ton of gold from the storeroom as operations resume after nearly six months of suspension. 22 July, 2025: A court in Mali rejects Barrick's appeal to release four employees arrested last November, calling the request unfounded. Barrick says the allegations against the employees as baseless. September 29, 2025: Barrick appoints veteran executive Mark Hill as interim president and CEO following the sudden resignation of Mark Bristow. Bristow's handling of Barrick's flagship asset in Mali proved to be the last straw for the board to initiate a change in leadership, four people familiar with the development tell Reuters. October 10, 2025: Operations at Barrick's Loulo underground gold mine in Mali are scheduled to begin on October 15, four months after a court-appointed provisional administration took control of the site, two sources tell Reuters. October 31, 2025: World Bank arbitration body rejects a request by Barrick to expedite its international arbitration case against Mali. November 21, 2025: Barrick Mining and Mali's government reach a verbal agreement to resolve their dispute over the mining complex, two sources familiar with the situation tell Reuters. November 24, 2025: Barrick Mining reaches agreement with Mali's government to resolve all their disputes over the mining complex. https://www.reuters.com/sustainability/sustainable-finance-reporting/barrick-resolves-dispute-with-mali-government-over-loulo-gounkoto-mining-complex-2025-11-24/
2025-11-24 20:36
BB Energy shifts administrative functions to Europe for efficiency, sources say Several traders, including George and Laurin, leave BB Energy Plath, Donahue and Rios Requena also depart amid restructuring, sources say NEW YORK, Nov 24 (Reuters) - Commodities trader BB Energy has laid off over a dozen people from its Houston office, and parted with some oil traders in a major restructuring of its operations, sources familiar with the matter said. A BB Energy spokesperson confirmed it had made changes to sharpen its focus on the most profitable areas of its core business, while diversifying into high-potential new markets. The company did not say how many employees were impacted by the changes. Sign up here. "To strengthen our position in the U.S., we have begun implementing a comprehensive reorganisation designed to enhance financial resilience and improve commercial and operational efficiency," the spokesperson said. BB Energy, which also has trading offices in UAE, UK, Singapore, Switzerland and Belgium, plans to shift some administrative functions away from the U.S. and move oversight of those responsibilities to Europe, two sources told Reuters. The company declined to comment on how it carries out administrative functions across the group. TRADERS LEAVE FIRM Among the traders to depart as part of the reorganization were Alexander George and Dylan Laurin, the spokesperson said. Both George and Laurin were on the crude oil desk, sources said. George is joining U.S. refiner Phillips 66 (PSX.N) , opens new tab to trade crude, a company spokesperson confirmed. Laurin has also accepted a role at another oil trading company, sources told Reuters. Trevor Plath, who focused on renewable fuels and carbon markets, also left BB Energy, three sources said. Two distillate fuel traders, Brendan Donahue and Nelson Rios Requena, had also left the firm in recent weeks, two sources told Reuters. Bloomberg earlier reported BB Energy had lost half of its Houston traders amid a tough oil market. BB Energy ranks among the top global commodities trading houses, with revenue of about $23 billion last year and trading volumes of about 33 million tons of crude and petroleum products, according to its website. https://www.reuters.com/business/world-at-work/commodities-trader-bb-energy-lays-off-some-houston-traders-major-reorganization-2025-11-24/
2025-11-24 20:22
PARIS, Nov 24 (Reuters) - The French Agriculture Ministry said on Monday it would give the wine industry additional support of 130 million euros ($149.80 million) for the further uprooting of vines, to guard against excessive output, adding it would also ask the European Union to chip in. "The sector is suffering from a deteriorating situation, marked by the effects of climate change, which have repeatedly affected harvests for several years, the continuing decline in wine consumption – particularly red wines – and major geopolitical tensions," the ministry said in a statement. Sign up here. France has subsidised the removal of vines to counter oversupply in the face of falling wine consumption, an approach criticised by some producers for making southern areas more vulnerable to wildfires. French wine production is expected to rise 3% from last year's rain-hit season but fall 13% from the five-year average as a heatwave and drought in August and smaller vine area cut output in some key regions, the farm ministry said in September. "This new and very significant financial effort, despite a particularly difficult budgetary context and subject to the adoption of a finance bill, demonstrates the government's determination to save our wine industry in the long term and enable it to bounce back," Agriculture Minister Annie Genevard said in the statement. ($1 = 0.8678 euro) https://www.reuters.com/sustainability/climate-energy/france-help-wine-industry-with-150-million-aid-vines-uprooting-2025-11-24/
2025-11-24 20:08
CHICAGO, Nov 24 (Reuters) - Two cargo vessels were headed for grain port terminals near New Orleans on Monday to load with the first U.S. soybean shipments to China since May, according to a shipping schedule seen by Reuters. A third vessel was en route to a Texas Gulf Coast grain terminal to be loaded with China-bound U.S. sorghum in the coming days in what will be the first American shipment of the feed grain to China since mid-March, the shipping schedule showed. Sign up here. U.S. farmers and grain traders have been awaiting shipments to China to resume after Beijing shunned U.S. crops for months due to a trade war with Washington, costing U.S. farmers billions on lost trade. China has booked nearly 2 million metric tons of U.S. soybeans and a smaller volume of wheat since a meeting between presidents Donald Trump and Xi Jinping in South Korea in late October, when the White House said Beijing agreed to buy 12 million tons of soybeans by the end of the year. China has not confirmed the deal and questions about the agreement or when any sales would ship have fueled uncertainty in grain markets. U.S. Agriculture Secretary Brooke Rollins said Monday that the Trump Administration expects to sign a deal within two weeks. The vessel Ocean Harvest is due to arrive at Cargill's Reserve, Louisiana, terminal and the vessel Tokugawa is scheduled to arrive at a Convent, Louisiana, terminal owned by Zen-Noh Grain this week, both to be loaded with U.S. soybeans, the shipping schedule showed. A third vessel, Bungo Queen, is due to arrive for loading with U.S. sorghum at the Archer-Daniels-Midland terminal in Corpus Christi, Texas, in the next week. Cargill, ADM and Zen-Noh did not immediately respond to requests for comment. https://www.reuters.com/world/china/three-vessels-bound-us-gulf-coast-terminals-load-soybeans-sorghum-china-2025-11-24/
