Новости за 13.05.2024

Via Metal Miner Overall, the Aluminum Monthly Metals Index (MMI) rose 7.06% from April to May. The aluminum price remained bullish throughout April, rising 11.47% month over month. However, prices found a peak on April 22 when they failed to break above their 2023 high. They then retraced to the downside during the remainder of the month and into early May.  LME Aluminum Inventories Skyrocket After Trafigura Delivery Amid the aluminum price retreat, Trafigura dumped over 400,000 metric tons of aluminum into LME warehouses. Читать дальше...

When people gripe about paying taxes and the government being a poor the absolute worst possible capital allocator, this is what they are talking about: $7.5 billion in investments for electric vehicles has - in two years - produced just 7 charging stations across four states.  The Bipartisan Infrastructure Law, signed by Biden in November 2021, allocated $7.5 billion for EV charging, the Washington Post writes. Of this amount, $5 billion went to states as "formula funding" for the National Electric... Читать дальше...

After U.S. oil output hit an all-time high in the final two months of 2023 with year-over-year growth clocking in at over 1 million barrels per day, the Energy Information Administration (EIA) said on Monday that American shale output from the top-producing regions would soar to a six-month high in June.  In its monthly Drilling Productivity Report released on Monday, the EIA said production in the top basins in the American shale patch would hit 9.85 million barrels per day–a volume not seen since December. Читать дальше...

Gulf Keystone Petroleum has laid out plans to return $10m (£8m) to shareholders as its board attacked the company’s weak share price. In a trading update published this morning, the company, a leading independent oil producer in the Kurdistan Region of Iraq, said that production during the first few months of 2024 had been “robust”, with gross average sales for the year-to-date coming in at 37,000 barrels of oil per day (bopd). It said realised oil sale prices had risen to $27 per barrel from $25/bbl... Читать дальше...

While inflation concerns dragged oil prices lower earlier on Monday, with U.S. consumer price data due out Tuesday, by late morning, anticipation of OPEC’s monthly report due on the same time bumped the two key crude oil benchmarks up at least half a percentage point. On Tuesday, OPEC will release its Monthly Oil Market Report (MOMR), with its outlook for the coming period.  On Monday at 11:57 a.m. ET, the U.S. crude oil benchmark, West Texas Intermediate (WTI) was trading up 0.61% at $78.74, while... Читать дальше...

On May 8, the European Commission presented a new round of sanctions on Russia and Belarus to the ambassadors of the European Union member states. The proposal, seen by RFE/RL, is actually surprisingly ambitious, given that the bloc has adopted numerous rather weak packages in the past. The big question is whether the measures, if adopted, will retain their clout. As they have to be adopted unanimously, there is a risk of them being watered down.Surprisingly, the proposed measures touch on Russian energy... Читать дальше...

Anglo American said on Monday it had rejected a second takeover offer from BHP which would create a major mining group. Last month, mining giant BHP made an all-share offer for fellow major Anglo American. If completed, the deal would be the biggest one in the mining world in years.     On the day after announcing it had received an offer from BHP, Anglo American rejected the proposal, after the Board and its advisers concluded that it “significantly undervalues Anglo American and its future prospects.”…

Nigeria has launched oil production from a new field in the Niger Delta region, which is expected to raise crude output at Africa’s top oil producer by 40,000 barrels per day (bpd) by the end of May. The upstream subsidiary of Nigerian national oil company, NNPC Exploration and Production Limited, and Natural Oilfield Services Ltd (NOSL), a subsidiary of Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO), announced on Sunday the successful start of oil production at Oil Mining... Читать дальше...

One of Chevy's longest running vehicle models has now fallen at the hands of the company's transition to EVs. The Chevy Malibu will be no longer, according to a new report from Car and Driver.  The Chevy Malibu, one of the longest-running and most successful vehicles in history, is being discontinued again. Chevrolet informed Car and Driver that production will end in November 2024 as the automaker invests $390 million in its Fairfax Assembly Plant in Kansas. Car and Driver reports that GM will also... Читать дальше...

Eni is considering spinning off some stakes in oil and gas projects in Asia and Africa to have partners for their development while putting aside more money into lower-carbon energy projects, sources in the Italian major have told Reuters. For years, Eni has been taking a different approach to conventional and green energy development, unlike any of the other major international oil and gas firms. The Italian major is divesting or creating joint ventures to operate oil and gas assets internationally... Читать дальше...

Around 43.8 million Americans will travel during Memorial Day weekend—the highest in nearly two decades, AAA projections showed on Monday in what would be a near-record unofficial start to summer travel in the U.S.   AAA expects 43.8 million Americans to head 50 miles or more from home by all means of transportation over the Memorial Day holiday travel period between Thursday, May 23, and Monday, May 27, 2024.    If this projection pans out, this year’s total number of travelers for Memorial Day... Читать дальше...

The European Commission will end an investigation into Chinese solar companies after the firms withdrew from bidding for a solar power project in Romania, Thierry Breton, the European Internal Market Commissioner said on Monday.     The European Commission opened in April an in-depth investigation under the Foreign Subsidies Regulation into two companies – ENEVO, which includes LONGi Solar Technologie GmbH, as well as Shanghai Electric UK Co. Ltd. and Shanghai Electric Hong Kong International Engineering Co. Читать дальше...

The European Union member states signed off on Monday on stricter emission standards for heavy-duty vehicles, which include a 90% emissions reduction from 2040. The EU Council formally adopted today these stricter rules which are aimed at tightening the existing emission reduction goals for pollution from heavy-duty vehicles. “More robust standards for CO2 emissions will help increase the share of zero-emission vehicles in the heavy-duty vehicle fleet across the EU, while ensuring that innovation... Читать дальше...

China has boosted its imports of coal and natural gas so far this year, as it looks to stockpile fuel for the power plants ahead of the summer amid international prices that were half last year’s levels in the first four months of 2024. Chinese imports of natural gas jumped by 21% between January and April compared to a year earlier, while imports of coal rose by 13%, according to data reported by Bloomberg on Monday. The Asian benchmark LNG prices averaged a little over $9 per million British thermal... Читать дальше...

Senate Majority Leader Chuck Schumer called on the Federal Trade Commission to stop the merger between Chevron and Hess Corp., claiming it would be detrimental to consumers. “I’m sounding the alarm against yet another proposed Big Oil merger—a $53B deal between Chevron and Hess,” Schumer wrote on X on Sunday. “It would give Big Oil more fuel to raise gas prices. Trump might be hosting dinners for Big Oil execs, but the FTC should side with consumers and pump the breaks on this deal,” the Senate Majority…

An evacuation alert has been issued for Fort McMurray, a key hub for the oil sands industry in Alberta amid wildfires in the area. The Alberta government had four active wildfire alerts on its website as of Sunday night, all at an advisory level—the level it describes as “Prepare to take action” and a step before the critical level, which is described as “Take action now”. Spring is wildfire season in Canada’s oil country and the blazes sometimes interfere with oil sands production. Reuters recalls... Читать дальше...

Crude oil prices began the week with a decline on signs of slowing fuel demand and yet more indications from the Fed that rate cuts are not coming soon. Brent was trading below $83 per barrel and West Texas Intermediate was a little above $78 a barrel earlier today after shedding 1% on Friday, after the EIA reported builds in gasoline and distillate inventories and analysts reiterated expectations about delays in rate cuts. The EIA reported modest increases in gasoline and middle distillate stocks for the week to May 3... Читать дальше...

Back in March, S&P Global reported that a record 24 cargoes carrying nearly 1.6 million metric tons of U.S. LNG had reached Asia via the Cape of Good Hope in the first three months of 2024, with exporters choosing the much longer route and shunning the Panama and Suez canals due to various challenges. S&P reported that only 14 cargoes had reached Asia through the Panama Canal during the timeframe, a sharp drop from 40 cargoes recorded during the corresponding period in 2022 after low water... Читать дальше...