Новости за 08.04.2024

We presented the trade idea that a surge in artificial intelligence demand is sparking the need for significant upgrades to the nation's decades-old power grid as new data warehouses come online. Several of the nation's power grids face increasing power brownout/blackout risks during high-demand periods. This overview we provided premium subscribers was published in a Wednesday note titled "The Next AI Trade." Cloud-computing startup CoreWeave's co-founder and chief strategy officer, Brian Venturo expands more on this. Читать дальше...

One person has been killed, with two others in critical condition, following a fire over the weekend at an offshore platform operated by Mexico’s state-run Pemex in the southern Gulf of Mexico.  Nine workers were injured in the fire that started on Saturday at Pemex’s offshore Akal-B platform, according to Reuters.  Initially, on Sunday, Pemex had reported that the fire had resulted in injuries for two people, none critical, claiming that the fire had been brought under control in a matter of minutes. Читать дальше...

Shell’s chief executive has floated the possibility of the petrogiant abandoning its “undervalued” London listing. Wael Sawan, who runs the largest company on the FTSE 100, said the embattled London exchange was an “undervalued location” as he joined a raft of global CEOs in complaining about the capital’s equity markets. Shell, he said, was a “fantastic” investment opportunity due to its undervaluation in the interview with Bloomberg. “I will keep buying back those shares, and buying back those…

Exxon will pause for several weeks oil production at two platforms offshore Guyana in the third quarter of 2024 to connect them to a new pipeline expected to bring the associated natural gas onshore to a gas-fired power plant. Exxon, whose consortium produces more than 600,000 barrels per day (bpd) of oil from Guyana’s prolific Stabroek block, is working with the government of Guyana on a gas-to-energy project expected to use the associated gas in a new combined-cycle power plant onshore. The proposed... Читать дальше...

Abandoning petrol-burning vehicles and adopting low-­carbon technologies to power tomorrow's economy are trends accelerating across the nation. To do this, access to rare earth metals, key ingredients in many of these 'green' technologies, must be sourced domestically - not from China, an emerging national security threat to the US. As the world fractures into a multipolar state, there is a big push domestically to revive America's metals and mining industry and reduce reliance on Asia.  Morgan Stanley... Читать дальше...

Dutch oil supermajor Shell is considering shifting its listing from the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE), the Telegraph reported on Monday, citing the company’s CEO.  According to the UK daily newspaper, Shell is considering “all options” as it bemoans under-appreciation on the London stock exchange.  Year-to-date, Shell PLC’s stock is up 8.68% at $71.63. Last week, Shell said it expected its Q1 natural gas production to beat guidance, though it cautioned that earnings... Читать дальше...

Via Metal Miner Nickel prices continued to the upside during the first half of March, taking a momentary pause from their long-term downtrend. However, prices found a peak by March 13, reaching their highest level since October 2023. Following that, the rally collapsed, and prices returned to the downside. Overall, nickel prices fell 5.56% month over month. The Stainless Monthly Metals Index (MMI) fell 3.16% from March to April. Falling Nickel Prices Temper Stainless Sentiment As usual, the Q1 stainless... Читать дальше...

Weaker coal prices and demand and mine closures due to safety checks are set to reduce coal output in China’s largest coal-producing province, Shanxi, by 4% this year, for the first time in seven years, according to a plan announced by the provincial government. Shanxi, which last year produced 29% of China’s coal, is set to see its coal production drop to 1.3 billion metric tons in 2024, from 1.36 billion tons produced in 2023, Reuters reported on Monday, quoting a post on the local government’s WeChat account. Читать дальше...

From the first moment several months ago when the 7 October attacks by Hamas on numerous civilian targets in Israeli territory were planned by the terrorist organisation and its Iranian backers, Tehran’s key objective has been to widen that war into one involving multiple Arab states on the one side (tacitly backed by China and Russia), and on the other side Israel (and its key Western sponsors, especially the U.S). “We’ve known all along, as has Washington, that this was the plan which is why we’ve... Читать дальше...

Russia’s liquefied natural gas (LNG) exports gained over 4% in the first quarter of this year as it increased output to replace sanctioned pipeline gas exports to Europe, Russia’s Kommersant newspaper reported on Monday.  Citing a 4.3% (8.7 million metric ton) increase in unsanctioned LNG exports in Q1 2024 based on data from Kpler, Kommersant.ru said exports to the European Union were rising, while those to Asia were declining. Russia’s LNG exports to Asia for the first quarter of the year saw a 7% decline... Читать дальше...

U.S. oil producers are not in a rush to significantly boost production despite oil prices hovering at a six-month high, as multi-year low natural gas prices are holding back drilling in parts of the Permian and costs have increased, analysts and industry executives tell Reuters. Last week, WTI crude prices hit their highest level of the year so far, and the highest since the middle of October 2023, amid geopolitical flare-ups in the Middle East and signs of tightening oil markets. But producers in America... Читать дальше...

Africa’s biggest crude oil producer, Nigeria, is expected to receive a $1 billion loan from the African Export-Import Bank (Afreximbank) next month as part of a larger crude oil prepayment facility aimed at shoring up forex reserves and boosting the economy.   “The verification of the crude availability has happened so we expect in the next month to finalize the release of the balance,” Denys Denya, senior executive vice president for finance, administration, and banking at Afreximbank, told Bloomberg. Читать дальше...

Fundamentals and geopolitics pushed oil prices to above $90 per barrel last week as more market participants have become bullish on crude.  After sitting on the sidelines in a more risk-off approach for nearly a year, a growing number of financial market participants now believe that oil is a buy, according to Mike Muller, Head of Asia at the world's largest independent oil trader, Vitol.       As Brent oil prices broke above $85 and then $90 per barrel earlier this month, some short-sellers decided…

While other international majors are closing down refineries or converting them to biofuel production, ExxonMobil is expanding its UK site and will start delivering diesel from the expanded Fawley refinery in early 2025. ExxonMobil is investing $1 billion (£800 million) in the main construction phase of a new low-sulfur diesel facility at the Fawley refinery, which is set to help meet Britain’s energy needs today and build the foundations for lower-carbon fuels in the future with the addition of a new hydrogen plant... Читать дальше...

The world’s top independent oil trader, Vitol, booked a net profit of $13 billion for 2023, wrapping up a second consecutive year of very high net income following record 2022 earnings, the Financial Times reported on Monday, quoting sources familiar with the privately-owned group’s results. The disruptions in the energy markets and the high volatility in commodity prices in 2022 and 2023 benefited the largest independent trader, and all other major independent trading groups such as Trafigura and Gunvor... Читать дальше...

Strong spring floods have shut down one refinery in Russia as they compromised a dam in the area forcing the evacuation of thousands, the BBC has reported, citing Russian government officials. Russian media report that the dam breach had sunk the old part of the city of Orsk and the level of water in the Ural River is gradually rising, threatening Orenburg, the administrative headquarters of the Orenburg region in southwestern Russia, near the border with Kazakhstan. Authorities have reported floods... Читать дальше...

Aramco has served notices of temporary suspension to two oilfield service contractors, Zawya has reported, citing the companies. According to one of them, Borr Drilling Limited, the suspension will begin this month and last for a year, the report said. Borr Drilling operates the Arabia I rig in Saudi Arabia and said it would look to move the rig elsewhere for the duration of the suspension. The other company, Valaris, has also received a suspension for one rig, out of a fleet of 19 that its Saudi subsidiary operates in the kingdom. Читать дальше...

Oil prices retreated at the start of the week on signs that there is a possibility of a ceasefire between Hamas and Israel. Benchmarks began the week shedding some $1 per barrel, which pushed Brent crude below $90 and West Texas Intermediate below $86, after Israel moved some troops out of Gaza during the weekend. "It appears the catalyst is Israel saying it has withdrawn all troops except one brigade from the Southern Gaza strip, likely in response to growing international pressure and to deescalate... Читать дальше...

Natural gas prices are falling all over the world. There is abundant supply, and demand has been lukewarm this northern hemisphere winter, which was relatively mild. Indeed, the global gas market is in oversupply. This prompted Morgan Stanley to recently forecast a gas glut that we have not seen in decades. It was going to materialize as a result of strong growth in LNG production capacity, the bank’s commodity analysts said. They cited numbers showing that there was 400 million tons in such capacity to date... Читать дальше...

African and Western officials are concerned that the conflicts and coups in the Sahel region could spill over to the coast of West Africa, which hosts several major oil production projects and export terminals. Since 2020, there have been military coups in Burkina Faso, Mali, and Niger, while violence from Islamist insurgents has spiked in recent months. Anxiety has grown over potential spillovers of extremist violence into the coastal countries in West Africa, including Benin, Cote d'Ivoire, Ghana... Читать дальше...