Latest news with #MinesandEnergy
Arab News
01-05-2025
- Politics
- Arab News
Saudi FM discusses issues of common interest with Peruvian counterpart
RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan received his Peruvian counterpart Elmer Schialer Salcedo and the country's Minister of Mines and Energy Jorge Montero in Riyadh on Thursday. During the meeting, Saudi-Peruvian relations, aspects of joint cooperation in various fields, and a number of international issues of common interest were discussed, Saudi Press Agency reported.
Malay Mail
24-04-2025
- Business
- Malay Mail
Malaysia to lead push for Asean Power Grid as regional chair, says DPM Fadillah in London
LONDON, April 24 — Malaysia, as the Asean chair in 2025, will focus on realising the Asean Power Grid and improving the energy exchange programme among member states, said Deputy Prime Minister Datuk Seri Fadillah Yusof. He said that realising the power grid will improve energy security, accessibility and affordability not only within Malaysia but also among other Asean member states. Fadillah, who is also the energy transition and transformation minister, said one of the issues regarding energy supply among Asean countries is that there are instances where a member state has extra power but cannot export the surplus. 'We are chairing Asean this year, so our focus will be on the Asean Power Grid. Within the Asean region, we need to support each other. 'So our focus this year is to come up with regulations and also study from other countries how we can improve the energy exchange programme among the (Asean) member states,' he said at the 'A Whole-of-System Approach-Addressing the Energy Trilemma' panel discussion held during the Summit on the Future of Energy Security event at the Lancaster House, here today. The topic was discussed during Plenary Session 1, titled 'Mapping the Energy Security Landscape-Defining a Holistic Approach of the Summit'. Among the other panellists were Spanish Deputy Prime Minister and Minister for the Ecological Transition and the Demographic Challenge Sara Aagesen Munoz, Iraqi Deputy Prime Minister and Energy Affairs and Minister Hayyan Abdel-Ghani, Egyptian Petroleum and Mineral Resources Minister Karim Badawi, as well as Colombia's Mines and Energy Minister, Edwin Palma Egea. Fadillah elaborated that by focusing on the power grid, Asean will be able to achieve energy security and affordability in terms of the electricity supply through cooperation among all the member states. 'We also will be able to contribute towards our commitment to clean energy for future generations,' the deputy prime minister said. Fadillah added that Malaysia updated its energy policy by introducing the National Energy Transformation Roadmap (NETR), which focused on ensuring Malaysia has a secure electricity supply countrywide and also contributing to the region's energy security. The deputy minister highlighted that cooperation within the region is also one of the focus areas Malaysia is exploring in terms of commitment to the energy trilemma of balancing sustainability, security, and affordability. 'In order to do that, we formed an implementation and planning committee for electricity at a high level between agencies and ministries that would decide in terms of planning the energy requirement and what the energy mix for the future would be,' he said. The two-day Summit on the Future of Energy Security that kicked off today was organised by the International Energy Agency (IEA) and the United Kingdom (UK) government and will see global decision-makers convene to advance actions to map and mould the future of energy security. — Bernama
Yahoo
17-04-2025
- Automotive
- Yahoo
Brazil's Petrobras cuts diesel prices to distributors
SAO PAULO (Reuters) - Brazilian state-run oil company Petrobras will reduce the price of diesel sold to distributors by an average 0.12 real ($0.0205) per liter starting on Friday, it said in a statement on Thursday. The reduction comes with crude prices falling in recent weeks after U.S. President Donald Trump imposed tariffs on a number of countries on April 2. Changes on the exchange rate and Brent crude oil prices weighed on the decision to update prices, Chief Financial Officer Fernando Melgarejo told Reuters. "We have a fundamentalist analysis of prices, and within this analysis we understand that the adjustment was appropriate at this moment, mainly due to the movement of the Brent," Melgarejo said. A lowering of fuel prices in Brazil had been speculated about after the announcement of the tariffs, as Mines and Energy Minister Alexandre Silveira discussed the matter with Petrobras Chief Executive Magda Chambriard. Petrobras was conservative in its cut, said Eduardo Oliveira de Melo, a managing partner at Raion Consultoria, adding his consultancy firm had measured a potential fuel price reduction of up to 0.30 real. ($1 = 5.8640 reais) Sign in to access your portfolio
Reuters
17-04-2025
- Business
- Reuters
Brazil's Petrobras cuts diesel prices to distributors
SAO PAULO, April 17 (Reuters) - Brazilian state-run oil company Petrobras ( opens new tab will reduce the price of diesel sold to distributors by an average 0.12 real ($0.0205) per liter starting on Friday, it said in a statement on Thursday. The reduction comes with crude prices falling in recent weeks after U.S. President Donald Trump imposed tariffs on a number of countries on April 2. Changes on the exchange rate and Brent crude oil prices weighed on the decision to update prices, Chief Financial Officer Fernando Melgarejo told Reuters. "We have a fundamentalist analysis of prices, and within this analysis we understand that the adjustment was appropriate at this moment, mainly due to the movement of the Brent," Melgarejo said. A lowering of fuel prices in Brazil had been speculated about after the announcement of the tariffs, as Mines and Energy Minister Alexandre Silveira discussed the matter with Petrobras Chief Executive Magda Chambriard. Petrobras was conservative in its cut, said Eduardo Oliveira de Melo, a managing partner at Raion Consultoria, adding his consultancy firm had measured a potential fuel price reduction of up to 0.30 real. ($1 = 5.8640 reais)
Reuters
28-03-2025
- Business
- Reuters
Brazil's Eletrobras unveils gov't nominations for post-privatization board overhaul
SAO PAULO, March 28 (Reuters) - Brazil's government nominated former Mines and Energy ministers Silas Rondeau and Nelson Hubner, as well as executive Mauricio Tolmasquim for seats on the board of power firm Eletrobras , the company confirmed on Friday. The nominations, which Reuters had reported on Thursday, come after Brazil's government and Eletrobras officially signed an agreement this week to settle a legal dispute regarding government voting power in the company. The deal still lacks a green light from shareholders. The board election, which is set for April 29, marks the first major restructuring of Eletrobras' board since its privatization, completed in 2022 and whose turnaround is coming to an end. Under the fresh agreement, the Brazilian government, which since the privatization had no seat in the board although it owns about 46% of voting shares, will have the right to nominate three of the 10 board members. Rondeau and Hubner were Mines and Energy ministers in previous governments of President Luiz Inacio Lula da Silva. Tolmasquim hadalso held positions in the ministry, and currently works as a director at oil firm Petrobras ( opens new tab. According to company filings, the members penned to leave the board include Eletrobras' Chief Executive Ivan Monteiro, though he would hold on to his executive role. Eletrobras also confirmed the government's nomination of former Finance Minister Guido Mantega for its fiscal council.
