Новости за 01.04.2024

“Facts that don’t align with ill-informed prejudice are often infuriating. That doesn’t make them wrong. Someone needs to tell the truth about what it’s going to take to get to a net-zero future,” Emily Mir, a spokeswoman for Exxon, said earlier this month. And that's exactly what Judson Berkey at UBS has done, the focus of a new Bloomberg report. Berkey let loose on a recent conference call with regulators about how unrealistic climate goals were for banks trying to integrate them into their respective... Читать дальше...

American shale companies are eyeing the benefits of small nuclear reactors to power their Permian Basin drilling campaigns in order to reduce carbon emissions in a reliable and sustainable manner, Bloomberg reported on Monday.  Among those eyeing small nuclear reactors is the largest independent producer in the region, Diamondback Energy Inc, which Bloomberg reports has already signed a letter of intent for a supply of next-generation nuclear reactors.  The letter of intent was with Oklo Inc, whose CEO... Читать дальше...

Via Metal Miner Australia’s iron ore industry faces a major challenge, and if the country does not take corrective course action soon, it risks losing its position as the largest exporter of iron ore. This would have a significant impact on the nation’s industry, and its ability to affect the iron ore price. The challenge is the “changing color of steel,” as one expert put it. According to Magnetite Mines Ltd Chief Executive Tim Dobson, future demand will favor iron ore producers capable of efficiently... Читать дальше...

As tensions escalate in proxy zones in the Israel-Hamas conflict, six people have been killed in a Monday bomb strike that completely leveled the Iranian consulate in Damascus, Syria, with Tehran accusing Israel of being behind the strike. According to Agence France Press (AFP), the air strike hit an Iranian embassy annex building, killing six people. Syrian and Iranian media are attributing the strike to Israel, with a Lebanese security source telling Reuters that a senior commander of Iran’s Revolutionary... Читать дальше...

Many health-conscious people already know that the nutrient value of foods has been dropping since the introduction of industrial agriculture. The causes include loss of nutrient-rich topsoil due to erosion brought on by frequent plowing and therefore loosening of the soil. Farmers also often fail to plant cover crops to hold soil in place when the growing season is over. Another cause is the reduction in the biological diversity and density of the soil brought on both by frequent plowing and by the constant barrage of synthetic chemicals... Читать дальше...

Lower exports from both Iraq and Nigeria, in combination with continuing voluntary supply cuts have resulted in reduced oil production for OPEC in March, according to a Reuters survey published on Monday. Based on the survey data, OPEC output for March was at 26.42 million barrels per day on average, compared to 50,000 bpd for February.  OPEC+, the expanded cartel including Russia, agreed in early March to prolong voluntary oil output cuts from the first quarter into the second quarter of this year. Читать дальше...

The recent collapse of the Francis Scott Key Bridge into the Patapsco River on March 26 has caused a temporary halt to all shipping traffic from the Port of Baltimore. A reader recently asked me how this might impact the energy markets. First, the closure should have minimal impact on the transportation of more commonly used petroleum products. Ship tracking data indicates limited activity, with only one shipment of gasoline and three petroleum-related export cargos recorded at the port in 2023.... Читать дальше...

Argentina and Brazil are discussing the idea to export natural gas from Argentina’s Vaca Muerta shale play to Brazil via pipelines in Bolivia, by potentially reversing the flow northbound to Brazil. Energy companies from the three South American countries have started talks, but progress has been slow and there are a lot of issues to overcome to make such gas flows happen, industry executives and analysts have told Reuters. The idea is to reverse the southbound flow of gas pipelines in Bolivia, which used to carry gas to Argentina. Читать дальше...

The Iranian-backed Houthis will attack Saudi Arabia if it continues to allow U.S. warplanes to use its territory for military strikes against the Yemeni rebel group. Having taken control of the Yemeni capital of Sanaa in 2014, the Houthis are now building up their military presence for a push on the country’s principal oil and gas region of Marib. The group has also been stepping up its attacks on oil ships passing through the key transit routes in and around the Red Sea, including the crucial chokepoint of the Bab-el-Mandeb Strait. Читать дальше...

The federal government of Canada is not interested in investing in any LNG projects or subsidizing such plans, Energy and Natural Resources Minister Jonathan Wilkinson told CTV in an interview aired on Sunday. The Canadian government doesn’t plan to subsidize the electrification of ongoing LNG projects, the federal minister of energy added. “The government is opposed to using government money to fund inefficient fossil fuel subsidies. We’re the first country in the world to actually do that,” Wilkinson told CTV. Читать дальше...

The United States beat out both Australia and Qatar to become the largest exporter of liquefied natural gas (LNG) in 2023, with an average of 11.9 billion cubic feet per day (Bcf/d) in exports last year, the U.S. Energy Information Administration (EIA) said on Monday. Strong demand in Europe, the return of Freeport to full operations, and high utilization rates helped America raise its LNG exports by 12% annually in 2023 compared to 2022, per data from the EIA’s Natural Gas Monthly. The U.S., with... Читать дальше...

Turkey’s main opposition party, the secular Republican People’s Party (CHP), dealt a heavy blow to President Recep Tayyip Erdogan in the local elections this weekend, keeping the mayor’s office in Istanbul and Ankara and winning 15 other mayoral offices nationwide.    With 100% reported ballots, CHP won 37.76% of the votes, ahead of Erdogan’s AK Party (AKP), TRT World reports.   Erdogan’s party fared worse than polls had indicated and saw its worst defeat at any election during 20 years of Erdogan's…

US futures extend their record-breaking meltup following the long weekend (which was to be expected with hedge funds piling into shorts last week, hoping for a reversal), with most European markets still closed and Asian stocks closing lower. As of 7:30am, S&P futures were 0.3% higher, but trading near session lows; Nasdaq futures gained 0.4%. Bond yields are 1-3bp higher with the USD unchanged from its Friday close. Commodities are mixed: oil down and metals are mostly higher this morning as China PMIs beat expectations. Читать дальше...

U.S. natural gas producers believe they have a role to play in providing gas for the soaring power demand from data centers and AI technologies. While most large technology corporations seek solar or wind capacities to power their AI developments and data centers, renewables alone would not be enough to cover the growing demand for electricity, executives have told the Financial Times. Natural gas, which currently meets 43.1% of U.S. utility-scale electricity generation, will continue to meet a large... Читать дальше...

The United Arab Emirates (UAE) is slashing exports of its Upper Zakum grade as it is diverting more volumes of the medium sour crude to a huge domestic refinery, traders and analysts have told Reuters. ADNOC, the state oil and gas firm of one of OPEC’s top producers and exporters, is estimated to have shipped around 650,000 barrels per day (bpd) of Upper Zakum crude in March, compared to a monthly average of around 940,000 bpd throughout 2023, according to Rystad Energy data cited by Reuters. At the same time... Читать дальше...

Imports of liquefied natural gas into Asia last month hit the highest ever for that month, at 24 million tons, which was a 12% increase on a year earlier, Bloomberg reported, citing Kpler data. The leaders of the importers’ pack were China, India, and Thailand, the data showed, with imports expected to continue at elevated levels as ample gas inventories are dampening demand for new shipments and lower prices on the spot market. Because of that lower demand, shipments of liquefied gas to Europe dropped... Читать дальше...

China’s latest economic update has added a fresh note of bullishness to oil markets, as it showed the first expansion in manufacturing activity in six months. The purchasing managers’ index reading for March stood at 50.8, up from 49.1 for February, Reuters reported, adding that export orders increased as well. "From the indicators, domestic supply and demand has improved, while homeowner and business confidence is recovering, while willingness to consume and invest are increasing," Chinese Everbright... Читать дальше...

U.S. natural gas producers are slashing production in response to multi-year low prices. But they are also looking beyond the current slump, preparing to turn on more output by flexible operation of their inventory of wells.   “Natural gas is currently pricing at or below costs of production,” an executive at an exploration and production company said in comments in the quarterly Dallas Fed Energy Survey released this week.  Prices are historically low due to weak winter demand amid milder weather... Читать дальше...

Since the public spat over long-term forecasts between the leading voice of the world’s oil producers – OPEC – and consumers – the International Energy Agency (IEA) – broke out last fall, it remains apparent that a deep divide exists between them. Their contrasting reports were published last October in the weeks leading up to COP28.  In a recent interview with Oilprice.com, HE Haitham Al Ghais, OPEC Secretary General, reaffirmed his organization’s position on long-term oil demand while elaborating…