Новости за 15.05.2024

Via Metal Miner Ramped-up offshore exploration for rare earth metals and minerals, vital components in sought-after products like hybrid vehicles and smartphone screens, continues to cut into China’s long-held position as the primary global supplier. Countries like Australia, the United States, Myanmar, and even nations like Malaysia, Vietnam, Uzbekistan, and Kazakhstan continue to increase their extraction efforts. This directly translates into a reduced global dependence on rare earth minerals from China. Читать дальше...

Full operations have resumed at Freeport LNG in Texas, following outages and repairs that have been ongoing for weeks, pushing American natural gas prices lower and causing a rise in LNG prices to Europe.  According to Reuters, citing LSEG data, LNG tankers began loading this week, with one tanker having departed with cargo on Tuesday and a second docked at the terminal on Wednesday. Three other tankers are waiting offshore for their turn to load.  A Freeport LNG spokesperson confirmed to Reuters... Читать дальше...

Iran and North Korea have a long history of working together to advance their respective military arsenals. Now, increased trade efforts between the two heavily sanctioned countries have raised concerns that they could share advanced missile and nuclear technology. Coming at a time when Tehran and Pyongyang are playing a central role in heightened global tensions, the prospect of one pariah state in possession of nuclear weapons and intercontinental missiles, North Korea, aiding another accused of seeking those capabilities... Читать дальше...

The CEO of Russian state-run gas giant Gazprom arrived in Iran on Wednesday with the delegation in what has been described as a “working visit with high-level Iranian officials, including the country’s oil minister, Reuters reports.  Gazprom CEO Alexei Miller is visiting Iran at the same time that Russian President Vladimir Putin is visiting China for high-level talks.   Last December, Moscow said it was hastening work on a “major new interstate agreement”, describing the project as at “a high stage…

The eurozone economy is expected to “turn a corner” in 2024 as faster growth in southern Europe will help offset continued stagnation in Germany, new forecasts from the European Commission show. The Commission forecast that the eurozone would grow 0.8 percent this year, unchanged from its last round of forecasts, and an improvement on growth of just 0.4 percent last year. Looking forward to next year, the Commission expects 1.4 percent next year, a slight downward revision on its winter round of forecasts. Читать дальше...

Slovak Prime Minister Robert Fico, 59, remains in “life-threatening” condition following an assassination attempt that took place outside Bratislava on Wednesday, where local media reports claim he was shot in the stomach and hand by a lone gunman.  Official sources have offered scant details about the assassination attempt and have not confirmed the exact nature of the shooting or any further details surrounding the prime minister’s current condition, RFE/RL reports.  Reuters cited Slovak media... Читать дальше...

Economic integration efforts among CentralAsian-Caspian Basin states are gaining momentum. Azerbaijan, Kazakhstan and Uzbekistan are developing a green energy plan to link their power grids with an eye towards exporting electricity to the European Union. The energy ministers of the three countries announced the signing of a memorandum of understanding in early May to explore their joint electricity export potential by harnessing mainly wind and solar power. Kazakhstan is also aiming to boost its hydropower generating capacity. Читать дальше...

Natural gas in energy supply is not going anywhere and its demand will only rise with growth in economies and global population, which will require additional LNG projects to come online after 2030, the energy minister of one of the biggest LNG exporters, Qatar, said on Wednesday. “Everybody's trying to get the inflation down, so if we have a reasonable economic growth going forward, I think you'll see that all the supply and demand will catch up and you'll need another phase of development of gas... Читать дальше...

The U.S. has been investing heavily in boosting its battery storage capacity and developing its electric vehicle (EV) battery manufacturing capabilities, and it seems that it has paid off as the country is now home to several massive battery projects with many more in the pipeline. Since the introduction of the Biden Administration’s Inflation Reduction Act (IRA), the most far-reaching U.S. climate policy to date, public and private investment in battery storage has soared, as the country strives for a green transition. Читать дальше...

Resource-poor Japan is launching the most important energy policy discussions in its post-World War Two history, aiming to strike a balance between the need to boost its energy security with conventional sources and its pledge to become a net-zero economy by 2050. The industry ministry of one of the world’s most industrialized nation, which imports nearly all the commodities it consumes, launched on Wednesday formal discussions about its future energy policy. Amid the energy crisis in 2022, which... Читать дальше...

Crude oil prices recovered somewhat after the Energy Information Administration reported an inventory decline of 2.5 million barrels for the week to May 10. This inventory change compared with a modest draw of 1.4 million barrels for the previous week and an unexpected decline of 3.1 million barrels for the week to May 10, as estimated by the American Petroleum Institute on Tuesday. Gasoline and middle distillate inventories moved slightly lower ahead of the start of summer driving season. Gasoline... Читать дальше...

Coal demand for power generation in China is set to be lower than previously thought due to high rainfall boosting hydropower production, according to China's Coal Transportation and Distribution Association. Hydropower generation in China jumped by 42.9% in the last third of April compared to the same period last year and is “very likely to maintain double-digit growth,” Reuters quoted Feng Huamin, an analyst at China Coal Transportation and Distribution Association, as saying at a market seminar on Wednesday. Читать дальше...

Global oil demand growth is expected at just 1.1 million barrels per day (bpd) this year, due to weak first-quarter consumption in developed economies, the International Energy Agency (IEA) said on Wednesday, cutting its growth forecast by 140,000 bpd from its assessment last month. Weak deliveries of middle distillates in Europe and the United States were “enough to tip OECD oil demand in the first quarter back into contraction,” said the agency, whose demand growth projection is now less than half... Читать дальше...

Russian exports of crude oil and refined oil products fell in April to their lowest level in five months, according to estimates from the International Energy Agency (IEA). Russia exported a total of 7.3 million barrels per day (bpd) of crude oil and petroleum products in April, the IEA’s monthly report showed, as carried by Bloomberg. The shipments in April were 6.4% lower compared to the previous month, according to the IEA’s estimates. The lower Russian exports of both crude and oil products were... Читать дальше...

Authorities in Fort McMurray, which is not far from much of Alberta’s oil sands production sites, issued an “extreme” wildfire danger for the forest area that could threaten to shut in or disrupt some Canadian crude oil or natural gas output in the coming days and weeks.   Alberta Wildfire “is currently responding to an out of control wildfire southwest of Fort McMurray,” the lead firefighting agency in the province said in an update late on Tuesday.   The MWF017 fire, classified as out of…

Venezuela has moved “substantial quantities of [military] personnel and equipment to the border with Guyana amid its territorial dispute over the Essequibo region. The update comes from the Center for Strategic and International Studies in Washington D.C., which this week released a report on the latest developments in the Venezuela-Guyana dispute. The think tank talks about an expansion of a military base on Anacoco Island in the area, with new roads and a bridge getting built in the past few months. Читать дальше...

Brazil’s government has removed the chief executive of Petrobras Jean Paul Prates and replaced him with the former head of the state oil and gas regulator, Magda Chambriard. The news sent Petrobras shares down, Reuters said in a report on the reshuffle, with investors preparing for more state interference in the business of the company. The change at the top comes a day after Petrobras reported a 38% decline in net profits for the first quarter of the year on 15% lower revenues. It also adds to bad... Читать дальше...

Bitcoin underwent its fourth “halving” earlier this month, and while this typically results in a bullish spike in prices, this year will see a major reckoning in this digital space–and the winners will be those with the lowest all-in costs and the smartest energy setup.  The path to profitability is paved by energy sources, with crypto mining now under intense scrutiny for threatening the stability of the grid and, in some cases, causing electricity prices to skyrocket on the excessive demand.  …

U.S. shale producers have been preaching and practicing capital discipline since the price crash of 2020 and haven’t deviated from their pledge to focus on shareholder returns instead of oil production growth since then. Some of the biggest independent U.S. shale firms may have started to finally please investors with meaningful returns, but they have angered consumers. Some of these consumers of retail gasoline, diesel, and marine fuels allege that the ‘discipline’ in capital allocation has actually... Читать дальше...

Oil prices have pulled back sharply to a three-month low as a combination of demand concerns and easing geopolitical premium take a toll. Last week, the Energy Information Administration's (EIA) reported that U.S. crude inventories declined by 1.362 million barrels, smaller than the Wall Street consensus at 1.430 million barrels. The smaller-than-expected fall came hot on the heels of a large 7.3M-barrel build in U.S. crude stocks in the previous week, the largest weekly increase since February. Meanwhile... Читать дальше...

The Middle East is expanding its renewable energy and clean tech sectors at an accelerated pace, as several countries plan for economic diversification beyond oil and gas. While fossil fuels may continue to provide massive revenues for countries such as Saudi Arabia, the UAE, and Qatar, these Middle Eastern states are ensuring they hold a competitive position in the future of international energy through the development of major wind, solar, green hydrogen, and other renewable energy projects.  Several... Читать дальше...

London-listed Anglo-American has unveiled a "clear, compelling, and decisive plan to unlock significant value from its portfolio." This strategy involves selling its platinum and diamond business units while concentrating on copper, positioning itself to prosper off the 'Next AI Trade' as data centers and power grids will use an enormous amount of the base metal to 'power up' the digital economy. Also, it's a move to thwart a hostile takeover attempt from BHP Group.  Anglo was forced to radically... Читать дальше...