2026-01-29 20:25
OTTAWA, Jan 29 (Reuters) - Canadian Prime Minister Mark Carney, asked about reports that U.S. officials had met separatists seeking independence for the province of Alberta, on Thursday said he expected the U.S. administration to respect Canadian sovereignty. The Financial Times said State Department officials had held three meetings with the Alberta Prosperity Project, a group that is pushing for a referendum on whether the energy-producing Western province should break away from Canada. Sign up here. "We expect the U.S. administration to respect Canadian sovereignty. I'm always clear in my conversations with President Trump to that effect," Carney told a press conference. Trump, he added, had never raised the question of Alberta separatism with him. The APP, which says Ottawa's policies are stifling the province, wants another meeting next month with State and Treasury officials to ask for a $500 billion credit facility, the Financial Times reported. Alberta premier Danielle Smith said she wanted to stay part of Canada but noted that polls show 30% of the population was fed up with what it saw as Ottawa's excessive interference. Alberta is landlocked and Smith is pressing for another oil pipeline to the Pacific Coast. That would have to cross the neighboring province of British Columbia, whose premier David Eby has ruled out the idea. Eby, whose relations with Smith are usually chilly, told reporters earlier that "to go to a foreign country and to ask for assistance in breaking up Canada ... is treason". Last week, U.S. Treasury Secretary Scott Bessent told a radio station: "I think we should let them come down into the U.S." Asked about a possible Alberta referendum, he replied: "People want sovereignty. They want what the U.S. has got." Carney and Trump have repeatedly traded barbs in recent weeks. Carney, who calls the U.S. president a skilled negotiator, suggests some of Trump's recent comments could be tied to a review of the U.S.-Mexico-Canada trade pact that is due to start later this year. https://www.reuters.com/world/americas/carney-says-he-expects-us-administration-respect-canadian-sovereignty-2026-01-29/
2026-01-29 19:42
Jan 29 (Reuters) - U.S. shale producers Coterra Energy (CTRA.N) , opens new tab and Devon Energy (DVN.N) , opens new tab could announce an agreement to merge as soon as next week, a source familiar with the matter said on Thursday. A possible combination would rank among the largest between U.S. energy producers in recent years. Sign up here. Both companies have operations across multiple shale formations, with both present in the Delaware portion of the Permian Basin in Texas and New Mexico and Oklahoma’s Anadarko Basin. A potential deal comes against a backdrop of a spike in crude prices on Thursday on worries the U.S. could take military action against Iran. Oil prices had previously been under pressure due to concerns about a near-term global glut of the commodity. Shares of Coterra rose 2.6%, while those of Devon were up marginally in afternoon trading. Coterra and Devon Energy did not immediately respond to Reuters' requests for comment. Bloomberg News was the first to report the talks between the two companies were at an advanced stage and that they could be billed as a merger of equals. Earlier this month, Reuters had reported the two companies were in talks for a possible merger. While energy dealmaking was subdued in 2025 compared with prior record-breaking years, arguments for consolidation among U.S. oil and natural gas producers remain valid. Benefits include economies of scale, which would help control costs within a depressed price environment for crude, as well as securing additional resources at a time when many shale basins are maturing and new prime development land is at a premium. https://www.reuters.com/legal/litigation/coterra-energy-devon-energy-advanced-talks-merge-source-says-2026-01-29/
2026-01-29 19:37
Jan 29 (Reuters) - The risk of U.S. power outages is worsening due to a changing mix of electricity supplies and rapidly growing demand in the winter months, the North American Electric Reliability Corporation said on Thursday. Before the end of the decade, the Mid-Atlantic, Midwest, Northeast and Texas regions may be at high risk of power supply shortfalls, the regulator said in its long-term assessment, NERC said. Sign up here. A winter storm this week knocked out power to more than 1 million U.S. homes and businesses at one point, as electrical systems struggled with high winds and prolonged freezes. The coldest months of the year are expected to pose an increasing challenge to the power grid, NERC said in its long-term assessment. That is partially because of the rapid addition of solar-powered energy, which performs best in the sunny summer, and the electrification of heating systems. The report projected that electricity demand in the U.S. and Canada over the next decade will surpass peak demand of the past 20 years, said NERC, which is an independent regulator of the U.S. and Canadian bulk power system. Winter peak demand is expected to grow by 245 gigawatts over the upcoming decade. One gigawatt is enough to power about 750,000 homes. While U.S. power demand largely peaks in the summer, the growth in winter peak demand is outpacing growth in summer demand as more heating systems electrify. Overall rising projected demand is largely being driven by data centers. Power reserve margins are expected to shrink in many of the regions as rising demand outstrips new supplies, according to the assessment. NERC's assessment, which is evolving, uses data and other information, from mid-2025. In PJM Interconnection, which is the largest regional grid in North America, the supply reserve margin is expected to fall to about 14% in 2030 from nearly 30% this year, based on last year's data. In the Midwest U.S. grid, MISO, reserves are expected to fall to 4% from 11% over the same period. https://www.reuters.com/business/energy/us-faces-growing-risks-power-outages-due-rising-winter-demand-changing-fuel-mix-2026-01-29/
2026-01-29 19:07
PARIS, Jan 29 (Reuters) - French shipping and transport company CMA CGM said on Thursday it was taking measures to put some of its vessels in areas of safety due to harsh weather in parts of the Atlantic. "Severe weather conditions are currently impacting the navigation conditions in the Atlantic, along the French, Spanish and Moroccan coastlines, with an event of exceptional intensity and duration, particularly in the Bay of Biscay," it said. Sign up here. "As a precautionary measure, CMA CGM Group has decided to place vessels transiting the area in safe positions to ensure the safety of crews and cargo. This measure applies to the entire area from southern Morocco to the entrance of the English Channel, with holding positions notably in the Seine Bay and in Gibraltar," it added in a statement. Rival container shipping companies Maersk (MAERSKb.CO) , opens new tab and Hapag-Lloyd (HLAG.DE) , opens new tab had also warned earlier this week of disruption to cargo flows across Europe due to storms and snow. https://www.reuters.com/business/shipping-company-cma-cgm-putting-some-vessels-areas-safety-due-harsh-weather-2026-01-29/
2026-01-29 18:30
WASHINGTON, Jan 29 (Reuters) - The top Democrat on a U.S. House investigative committee on Thursday asked global trading houses Vitol and Trafigura about any correspondence with the Trump administration before the U.S. capture of Venezuela's leader, to determine, he said, who benefits from that action. Representative Robert Garcia asked Russell Hardy, the CEO of Vitol and Richard Holtum, the CEO of Trafigura, for all communications between their companies and any members of the Trump administration from January last year until now. Sign up here. U.S. forces captured Venezuela's President Nicolas Maduro early this month and the Trump administration will manage Venezuela's oil sales "indefinitely." Vitol and Trafigura obtained the first U.S. licenses to load and export Venezuelan oil. WHY IT'S IMPORTANT The oversight committee has broad authority to investigate any matter. While Democrats do not currently control the House, President Donald Trump's fellow Republicans are in a battle to retain control of the House in November's midterm elections. KEY QUOTE "The Committee seeks answers about the Trump Administration's intentions regarding its sale and marketing of Venezuelan oil, as well as its intentions regarding the resulting revenue," Garcia wrote to the companies. "We further seek to understand the nature of any agreements your companies have made with the Trump Administration regarding Venezuelan commodities, and the role your companies hold in carrying out the Administration's actions relating to Venezuela." Vitol and Trafigura did not immediately respond to requests for comment. CONTEXT On Wednesday, a dozen House Democrats sent a letter to 21 companies who attended a January 9 White House meeting, including Vitol and Trafigura, about developing Venezuelan oil resources, warning them that any transaction or investment they make there faces legal and financial risks. https://www.reuters.com/business/energy/us-lawmaker-asks-vitol-trafigura-about-venezuela-oil-deals-2026-01-29/
2026-01-29 18:20
Senate Agriculture Committee advances crypto bill on party-line vote Bill gives CFTC authority over spot crypto markets, creates rules for exchanges Democrats express concerns over lack of provisions against political profiteering Jan 29 (Reuters) - The U.S. Senate Agriculture Committee, which oversees commodities trading, advanced a bill on Thursday that would establish a federal regulatory framework for cryptocurrencies on a party-line vote, an indication that the legislation likely lacks enough support to be passed by the full Senate. If passed, the bill would give the U.S. Commodity Futures Trading Commission the authority to oversee spot crypto markets and create rules for digital commodity exchanges, brokers and dealers. The Senate Banking Committee's companion bill has proven to be more contentious, with banks and crypto firms engaged in a bitter lobbying fight over whether crypto companies should be allowed to pay interest on dollar-pegged crypto tokens known as stablecoins. Sign up here. The crypto industry has said a crypto market structure bill is crucial to the future of the industry in the U.S. and provides legal certainty for companies to operate. The industry spent heavily in the 2024 elections to promote pro-crypto candidates in hopes of getting this landmark market structure bill across the line. The House of Representatives passed its version of the bill in July. DEMOCRATIC BACKING NEEDED TO PASS To pass and ultimately advance to U.S. President Donald Trump for approval, the bill would need support from at least seven Democrats in the full Senate. But some Democrats have expressed concerns that the measure does not include provisions to prevent political officials from profiting from crypto ventures. None of the Democrats on the Senate Agriculture Committee voted to advance the bill on Thursday. Senator Cory Booker, the top Democrat on the Senate Agriculture Committee, said he wanted to see more provisions related to decentralized finance and that his discussions with other committee members about that issue were not reflected in the bill. "We're almost in the red zone on this bill, and that frustrates me, because I see a bipartisan glide path to land this plane, to punch through the end zone," Booker said, using a football analogy ahead of the committee's vote. The White House on Monday will meet with executives from the banking and cryptocurrency industries to discuss a path forward for the crypto legislation in the Senate Banking Committee, which has yet to vote to advance the bill. https://www.reuters.com/sustainability/boards-policy-regulation/crypto-bill-advances-us-senate-faces-obstacles-2026-01-29/
