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The US wants central and eastern European countries to join its path of “energy freedom” instead of following the wider region’s transition to a net zero economy, Energy Secretary Chris Wright said in Warsaw. The Energy Secretary told the Three Seas Business Forum – which numerous leaders from the region attended Monday – that western Europe chose the wrong path of expensive “top-down imposition of enforced climate policies.” He argued that renewables investments weigh on growth and boost revenues of foreign companies, and that eastern Europe should pick a different path. “Central Europe faces a time for choosing,” Wright told conference participants.…

TechnipFMC PLC has posted a revenue of $2.23 billion for the first quarter, up 9.4 percent year-on-year (YoY), while net income fell 9.6 percent YoY to $142 million. Included in total company results was a foreign exchange loss of $12.1 million, or $8.1 million after-tax, TechnipFMC said. Inbound orders during the quarter reached $3.08 billion, 11.3 percent up YoY, while total backlog hit $15.8 billion, 17.2 percent up YoY. “Total company revenue in the period was $2.2 billion. Adjusted EBITDA was $356 million when excluding foreign exchange impacts, an increase of 38 percent compared to the prior year. Free cash…

British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024.Nurphoto | Nurphoto | Getty ImagesBritish oil giant BP on Tuesday posted slightly weaker-than-expected first-quarter net profit, following a recent strategic reset and a slump in crude prices.The beleaguered oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $1.38 billion for the first three months of the year. That missed analyst expectations of $1.6 billion, according to an LSEG-compiled consensus.BP’s net profit had hit $2.7 billion a year earlier and $1.2 billion in the…

Subscribe To NotificationsScan QR code to install appImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you,…

No previous U.S. government nor its now second-term President Donald Trump are known for their forgiving natures of supposed past betrayals. This is particularly true when the transgressor has been an entity on which both have been forced to rely for any length of time. Saudi Arabia as one of the world’s leading oil suppliers and the de facto leader of oil cartel OPEC for decades has been regarded with deep distrust by Washington since it catalysed the 1973/74 Oil Crisis at a time when the U.S. and its allies were still dependent on it for oil, as analysed in…

As of April 28, 2025, Gold has tallied up 28 new all-time record highs this year. But here’s what’s even more impressive. Having previously scored 39 new all-time highs throughout 2024 – matching the peak of the Global Financial Crisis in 2011 – the price of Gold in U.S Dollars has continued to build on last year’s momentum – taking its count of record highs to a staggering total of 67 new all-time highs, within a space of 16 months to the present day. Put another way, that’s the equivalent of Gold hitting four new all-time record highs – every…

LOS ANGELES (AP) — More than 50,000 Los Angeles county workers began a two-day strike Monday evening, closing libraries and disrupting administrative operations across the nation’s most populous county.The two-day strike was initiated in response to failed negotiations with the county for a new contract after the last one expired in March, according to Service Employees International Union Local 721 leaders.The union represents more than 55,000 workers including public health professionals, social workers, parks and recreation staff, custodians, clerical workers, and more serving a county of 10 million residents. It will be the first time all of its members go…

Oil declined as traders parsed economic data from the US and awaited further developments regarding President Donald Trump’s trade war, including China’s efforts to support its tariff-hit economy. West Texas Intermediate fell by 1.5% to settle near $62 a barrel, the lowest close in nearly two weeks. US equities also weakened amid a selloff in big tech and after a report found that Texas manufacturing activity had reached the lowest levels since May 2020. Treasury Secretary Scott Bessent told CNBC that while the US government is in contact with China, the onus is on Beijing to begin de-escalating the trade…

Major automakers want Congress to bar California’s landmark plan to end the sale of gasoline-only vehicles by 2035 that has been adopted by 11 other states, warning the rules could begin impacting vehicle shipments in a few months. The U.S. House of Representatives will vote later this week on legislation to repeal a waiver granted by the U.S. Environmental Protection Agency under former President Joe Biden in December allowing California to mandate at least 80% electric vehicles by 2035. The Alliance for Automotive Innovation, which represents General Motors, Toyota, Volkswagen, Hyundai and other major automakers said…

Japanese semiconductor manufacturer Rohm has unveiled a new compact HSDIP20 package using 4th generation SiC MOSFETs. The SiC modules were specifically developed for automotive applications. The innovation promises enhanced performance, reliability, and easier system integration. Rohm has announced the introduction of a new HSDIP20 for PFC and LLC converters in onboard chargers for electric vehicles. The HSDIP20 is a 4- in-1 or 6-in-1 module and measures just 38 x 31.3x 3.5 mm. It is said to offer industry-leading current density that enables fast charging, and is supposed to meet the growing demands for more compact, efficient, and high-performance power electronics…