2024-12-07 10:58

DOHA, Dec 7 (Reuters) - Qatar has no concerns about U.S. President-elect Donald Trump's promise to lift a cap on liquefied natural gas (LNG) exports, Qatar's Energy Minister Saad al-Kaabi said on Saturday, adding his country would cope with any competition. "And you know even if you open up LNG and say we're going to export another 300 million tons from the U.S. or 500 million from the U.S., all these projects are driven by private enterprises that look at the commercial viability of projects," Kaabi, who is also the chief executive of state-owned QatarEnergy, said during the Doha Forum. Asked about the impact of Trump's return to the White House on Qatar-U.S. relations, particularly in energy, Kaabi said oil and gas projects were multi-decade plans and "survive governments", but later added he thought Trump was "good for business". Kaabi said the European Union should thoroughly review the Corporate Sustainability Due Diligence Directive (CSDDD), which will require larger companies operating in the bloc to check if their supply chains use forced labour or cause environmental damage and act to take action if they do. Kaabi said the penalty can be up to 5% of a company's total worldwide revenue, adding it would have far-reaching complications and harm companies in the bloc as well as firms operating there. "So to me, my message to Europe and to the EU Commission is that: are you telling us I don't want your LNG into the EU? Because I sure am not going to supply EU with LNG to support their requirements for energy and then be penalized with my total revenue worldwide going to EU. So there's something wrong there," he said. He also said the Qatar Investment Authority, the estimated $510 billion sovereign fund, and other institutional investors would consider investing elsewhere to avoid penalties. EU "economies are not doing great, so they need foreign direct investments and they need support," he said. Sign up here. https://www.reuters.com/business/energy/no-concerns-over-trump-vow-lift-lng-exports-cap-qatar-energy-minister-says-2024-12-07/

2024-12-07 10:19

FRANKFURT, Dec 7 (Reuters) - German Chancellor Olaf Scholz is not ruling out Berlin potentially taking a stake in the steel business of conglomerate Thyssenkrupp (TKAG.DE) , opens new tab, he told a German newspaper. "I'm not taking any option off the table now," he told Funke Media Group when asked whether such a move was possible, adding the German government had repeatedly invested to temporarily support stricken companies, mentioning Lufthansa (LHAG.DE) , opens new tab, Uniper (UN0k.DE) , opens new tab, and the Meyer shipyards as recent examples. "Our involvement is temporary and is intended to help companies overcome hard times so that potential investments do not fail due to a lack of equity." Scholz said he would meet with top representatives of Germany's ailing steel sector on Monday to discuss how to tackle high energy prices, cheap Asian competition and a slowing shift to decarbonisation. Thyssenkrupp earlier this year sold a 20% stake in its steel business to Czech billionaire Daniel Kretinsky, with talks to sell a further 30% ongoing. Sign up here. https://www.reuters.com/markets/commodities/germanys-scholz-not-ruling-out-berlin-taking-stake-thyssenkrupp-steel-2024-12-07/

2024-12-07 09:23

Dec 7 (Reuters) - The Premier League clash between Everton and Liverpool has been postponed due to adverse weather conditions, hosts Everton said on Saturday. The Merseyside derby, scheduled later on Saturday at Goodison Park, is the first English top-flight soccer match to be postponed over storm Darragh. The decision to postpone was taken following a safety advisory group meeting attended by officials from both clubs as well as representatives from Merseyside police and Liverpool city council, Everton said in a statement. "Due to the risk to safety in the local area due to strong wind gusts, and an amber severe wind warning that remains in place until 6am on Sunday, today’s fixture should be postponed on safety grounds," the statement added. Merseyside police on Friday had advised residents to avoid any non-essential travel until weather conditions improved. "We appreciate this will be deeply disappointing for supporters, but the safety of fans, staff and players is of paramount importance," league leaders Liverpool said in a statement. "Information relating to a rearranged date for the fixture, including ticketing, will be announced in due course." The match was due to be the last Merseyside Premier League derby at Goodison Park, with Everton moving out of their home since 1892 at the end of the season. Two second-tier Championship fixtures set for Saturday (Plymouth Argyle v Oxford United and Cardiff City v Watford) were also postponed on Friday. Liverpool next visit Girona for a Champions League clash on Tuesday, while 15th-placed Everton continue their league campaign at Arsenal next Saturday. Sign up here. https://www.reuters.com/sports/soccer/everton-v-liverpool-postponed-due-adverse-weather-conditions-2024-12-07/

2024-12-07 09:14

DOHA, Dec 7 (Reuters) - BRICS countries have no interest in weakening the U.S. dollar at all, India's foreign minister Subrahmanyam Jaishankar said at an event in Qatar's capital Doha on Saturday. His remarks came a week after U.S. President-elect Donald Trump had demanded that BRICS member countries, which include major emerging economies like India, Russia and China, commit to not creating a new currency or supporting another currency that would replace the dollar or face 100% tariffs. Sign up here. https://www.reuters.com/world/india/brics-have-no-interest-weakening-usd-indian-foreign-minister-says-2024-12-07/

2024-12-07 06:13

TOKYO, Dec 7 (Reuters) - Japan's Chugoku Electric Power (9504.T) , opens new tab on Saturday restarted its Shimane nuclear power station in western Japan, shuttered since shortly after the 2011 Fukushima meltdown, the company said. The long-delayed restart of the 820 plant's megawatt (MW) No. 2 reactor, which was shut down in January 2012, boosts the number of Japan's operational reactors to 14, with a combined capacity of 13,253 MW. Japan's demand for liquefied natural gas and thermal coal is expected to fall next year, with Tohoku Electric Power (9506.T) , opens new tab also recently resuming operations of the 825 MW No. 2 reactor at its Onagawa nuclear power plant in northern Japan. The increased operation of nuclear power plants is expected to help Japan meet the growing power demand from semiconductor plants and data centres that support artificial intelligence applications. The government anticipates power output to grow to between 1.35 trillion and 1.5 trillion kilowatt-hours (kWh) by 2050, from 1 trillion kWh projected for this decade, as Japan establishes more data centres, chip factories and other energy-intensive businesses. For Chugoku Electric, the restart of the Shimane reactor, halted months after the 2011 Fukushima disaster, follows a total investment of 900 billion yen ($6 billion) in safety measures to comply with stricter post-Fukushima regulations. The restart is projected to boost the utility's recurring profit by 11 billion yen for the financial year ending March, helped by reduced fuel costs resulting from lower spending on fossil fuels, a company spokesperson said. The benefit has been factored into the company's earnings forecast, the spokesperson added. ($1 = 149.8000 yen) Sign up here. https://www.reuters.com/business/energy/japans-chugoku-elec-restarts-shimane-reactor-first-time-13-years-2024-12-07/

2024-12-07 02:46

SHANGHAI, Dec 7 (Reuters) - China's central bank resumed buying gold for its reserves in November after a six-month pause, official data by the People's Bank of China (PBOC) showed on Saturday. The PBOC was the world's largest official sector buyer of gold in 2023. Resumption of its purchases may support Chinese investor demand which was muted since the PBOC paused its 18-month buying streak in May. China's gold holdings rose to 72.96 million fine troy ounces at the end of November, up from 72.80 million troy ounces a month earlier. The value of China's gold reserves fell to $193.43 billion at the end of last month from $199.06 billion at the end of October. November was gold's first monthly price drop since June due to a post-U.S. election sell-off driven by Donald Trump's win. Spot prices for the precious metal are down 5% since hitting a record high of $2,790.15 an ounce on Oct. 31, but are still up 28% so far this year. "The resumption will send a signal that the PBOC has grown accustomed to these record high price levels and is prepared to build reserves regardless," said Ole Hansen, head of commodity strategy at Saxo Bank. Sign up here. https://www.reuters.com/markets/commodities/chinas-central-bank-resumes-gold-purchases-after-six-month-hiatus-nov-2024-12-07/