Commodities

Revised Colombia tax bill still puts mining investment at risk -industry group

Revised Colombia tax bill still puts mining investment at risk -industry group

By Luis Jaime Acosta BOGOTA, Sept 27 (Reuters) - A tax reform proposed by Colombia's leftist government will put mining investment and production at risk, despite modifications to the bill announced this week, the head of the country's mining association said on Tuesday. Colombia's new leftist President Gustavo Petro has said he wants to raise an additional 25 trillion pesos (some $5.6 billion) in tax revenue in 2023, before eventually adding about $11.5 billion annually for social programs to g

Wheat rises on short-covering, Ukraine worries; corn, soy firm

Wheat rises on short-covering, Ukraine worries; corn, soy firm

By Julie Ingwersen CHICAGO, Sept 27 (Reuters) - U.S. wheat futures rose about 2% on Tuesday as worries about escalating conflict in Ukraine and a pause in the dollar's run-up to 20-year highs spurred a round of short-covering, traders said. Corn and soybean futures also firmed but pared gains as an early rally in Wall Street equity markets faltered. As of 12:58 p.m.

Prince Abdulaziz bin Salman remains Saudi Arabia's energy minister under new cabinet

Prince Abdulaziz bin Salman remains Saudi Arabia's energy minister under new cabinet

Sept 27 (Reuters) - Prince Abdulaziz bin Salman remained Saudi Arabia's energy minister under a new cabinet headed by the kingdom's crown prince and de facto ruler Prince Mohammed bin Salman, Saudi state media reported on Tuesday. The foreign minister Prince Faisal bin Farhan Al Saud, the finance minister Mohammed al-Jadaanand and the investment minister Khalid al-Falih kept their positions in the new cabinet.

Possible sabotage on gas pipelines would be 'in no-one's interest,' says Blinken

Possible sabotage on gas pipelines would be 'in no-one's interest,' says Blinken

WASHINGTON, Sept 27 (Reuters) - U.S. Secretary of State Antony Blinken said on Tuesday that it would be "in no-one's interest" if attacks or acts of sabotage caused gas leaks detected in the Nord Stream gas pipelines amid an energy standoff between Europe and Russia over gas supplies. Both Moscow and Western European capitals have expressed concern over the multiple leaks spewing gas into the sea , which occurred as Russia has slashed gas deliveries to Europe after the West imposed sanctions ove

White House: Biden has called mayors in three Florida cities as hurricane Ian nears

White House: Biden has called mayors in three Florida cities as hurricane Ian nears

WASHINGTON, Sept 27 (Reuters) - President Joe Biden has called mayors in three Florida cities as hurricane Ian nears the state, White House Press Secretary Karine Jean-Pierre said on Tuesday. The Category 3 hurricane slammed into western Cuba on Tuesday, forcing evacuations, cutting power to nearly 1 million people and tearing roofs off homes as it tracked northward toward Florida, where residents anxiously await the sprawling storm.

NATO warns Russia of "severe consequences" in case of a nuclear strike

NATO warns Russia of "severe consequences" in case of a nuclear strike

BRUSSELS, Sept 27 (Reuters) - Any use of nuclear weapons by Russia is unacceptable and would have severe consequences, NATO said on Tuesday after an ally of Russian President Vladimir Putin issued another stark nuclear warning to Ukraine and the West. "Any use of nuclear weapons is absolutely unacceptable, it will totally change the nature of the conflict, and Russia must know that a nuclear war cannot be won and must never be fought," NATO Secretary-General Jens Stoltenberg said.

How methane leaks accelerate global warming

How methane leaks accelerate global warming

By Tim Cocks Sept 27 (Reuters) - Methane leaks have emerged as a top threat to the global climate, with the latest incident involving two Russian gas pipelines under the Baltic Sea that are at the heart of an energy crisis since Russia invaded Ukraine. Methane, the main component of natural gas, can leak from pipelines and drill sites, and is also emitted from farming and food waste.

Blinken says he understands Nord Stream leaks won't have a significant impact on Europe's energy resilience

Blinken says he understands Nord Stream leaks won't have a significant impact on Europe's energy resilience

WASHINGTON, Sept 27 (Reuters) - U.S. Secretary of State Antony Blinken said on Tuesday his understanding was leaks detected in the Nord Stream gas pipelines would not have a significant impact on Europe's energy resilience. Blinken, speaking at a press conference alongside India's Foreign Minister Subrahmanyam Jaishankar, said the United States had not yet confirmed initial reports that the leaks could be the result of an attack or sabotage, but said if they were due to sabotage that would not b

U.S. ready to support European partners investigating Nord Stream -White House

U.S. ready to support European partners investigating Nord Stream -White House

WASHINGTON, Sept 27 (Reuters) - Washington stands ready to provide support to European partners investigating the leaking Nord Stream pipelines, a U.S. National Security Council spokesperson said on Tuesday. Unexplained gas leaks detected in the Nord Stream 1 and 2 pipelines from Russia to Germany have prompted investigations by European countries into the cause, including the possibility of sabotage.

EU countries eye delay to levy on fossil fuel windfall profits - document

EU countries eye delay to levy on fossil fuel windfall profits - document

By Kate Abnett BRUSSELS, Sept 27 (Reuters) - European Union countries are considering an option to delay by a year a levy on the windfall profits of fossil fuel companies, as they hunt for a deal on emergency measures to help consumers facing soaring energy bills. The 27 EU member countries are negotiating measures proposed by Brussels last week to attempt to pull down sky-high energy costs - including bloc-wide windfall profit levies on energy firms.

Russia seen suggesting OPEC+ cuts oil output by 1 mln bpd - source

Russia seen suggesting OPEC+ cuts oil output by 1 mln bpd - source

Sept 27 (Reuters) - Russia is likely to propose that OPEC+ reduces oil output by around 1 million barrels per day at its next meeting in October, a source familiar with the Russian viewpoint said on Tuesday. The meeting will take place on October 5 against the backdrop of falling oil prices and months of severe market volatility which prompted another top OPEC+ producer, Saudi Arabia, to say the group could cut production.

Greece proposes European fund to address soaring gas prices

Greece proposes European fund to address soaring gas prices

ATHENS, Sept 27 (Reuters) - Greece has proposed a multibillion-euro European fund partly financed by a gas levy on power producers to support households and businesses struggling with soaring energy costs and help Europe replace Russian gas, its energy ministry said on Tuesday. To mitigate the impact of sky-rocketing gas and power prices on European consumers and industries following the war in Ukraine, the European Commission, so far, has proposed several emergency EU measures, including windfa