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Indonesia, a major copper producer, has decided to postpone the start of a ban on its copper concentrate exports until the end of the year in a move that could deflate copper prices after they hit a record high in May. Indonesia wants its local copper miners to build smelters and start processing the raw material locally, to boost the economy and offer higher-value copper products that are crucial for clean energy equipment and grid upgrades. The top copper miners in Indonesia, Freeport Indonesia... Читать дальше...

Authored by Pete McGinnis via RealClearPolicy, In June 2023, the Bureau of Ocean Energy Management proposed a rule that would require stricter financial assurance standards for oil companies operating in the Outer Continental Shelf. This costly rule became final on April 15, 2024, but in the 10 months since its initial proposal, BOEM did nothing to alleviate concerns for smaller companies that comprise of 76 percent of oil and gas operators in the Gulf. As a result, many of these companies could... Читать дальше...

A potential EU tariff of 20% on China-made electric vehicles would cost China $3.8 billion worth of EV exports to the bloc, but it would also cost EU end-consumers “noticeably higher prices,” Germany’s Kiel Institute for the World Economy said in an analysis on Friday. The EU launched in October 2023 anti-subsidy investigations into EU imports of EVs from China to determine whether the value chains in China benefit from illegal subsidies. The findings of the investigation will establish whether it... Читать дальше...

Africa’s top oil producer, Nigeria, needs annual investments of $25 billion to reach and keep its output at around 2 million barrels per day (bpd), Nigerian oil industry executive Austin Avuru said this week. “We need to invest $25 billion annually to stabilize production at 2 million barrels per day,” said Avuru, who is executive chairman of AA Holdings. This investment level “is crucial to ensure the sustainability of the sector and its contribution to the national economy,” the executive added... Читать дальше...

Oil prices remain under pressure this week despite expectations that OPEC+ will agree to extend production cuts at this Sunday's meeting.Friday, May 31st 2024The Memorial Day holidays, which usually trigger a bump in gasoline consumption, failed to drive a significant increase in fuel demand, adding downward pressure to oil prices. Overshadowing higher refinery runs in the U.S., concerns over this year’s consumption patterns loom large over the summer months. Heading into the weekend, all eyes will... Читать дальше...

In a landmark move for the Canadian financial markets, Coastal GasLink LP, partially owned by KKR & Co., is set to initiate the largest corporate bond deal in Canada's history. The pipeline project, located in Western Canada, is preparing to issue up to C$4 billion ($2.9 billion) in bonds to refinance its existing construction debt. This unprecedented offering is scheduled for early June, according to sources familiar with the matter. The Coastal GasLink project, a 416-mile natural gas pipeline... Читать дальше...

Politics, Geopolitics & Conflict Azerbaijan's strategic location and hydrocarbon wealth are propelling it to become a major player in energy and geopolitics beyond the South Caucasus. Leveraging partnerships with Turkey and developing pipelines like the Southern Gas Corridor, Azerbaijan aims to reshape Eurasian gas markets. The resolution of the Nagorno-Karabakh conflict has further unlocked opportunities for regional connectivity and economic development. However, uncertainties surrounding Armenia's... Читать дальше...

Whether you trade actively or are more of a long-term investor, there are some stocks that you just seem to get right a lot more than you get wrong. From both of those perspectives, one of the best for me over the years has been First Solar (FSLR). It is something on which I have made a lot of money and, in a piece that I wrote in October of last year in which I recommended buying it at around $145, I identified why that is so. It is because for some reason, FSLR usually does what the chart suggests it will... Читать дальше...

1. ConocoPhillips’ Takeover of Marathon Oil Creates 3rd Largest US Producer - ConocoPhillips agreed to purchase Marathon Oil in an all-stock transaction valued at $22.5 billion, a deal that would lift the US upstream firm’s production to 2.3 million boe/d, up by almost 400,000 boe/d. - The transaction will make ConocoPhillips the third largest US producer in the Lower 48, only behind ExxonMobil and Chevron/Hess, whilst surpassing TotalEnergies and BP. - ConocoPhillips will become the largest producer in Eagle Ford... Читать дальше...

Oil Market Weekly Recap and Next Week's Outlook This week, oil prices experienced volatility driven by mixed signals from U.S. fuel demand data, expectations surrounding the OPEC+ meeting, and macroeconomic factors influencing investor sentiment. As the market prepares for crucial developments in the coming days, traders remain cautious yet optimistic about potential price movements. U.S. Fuel Demand and Inventory Reports Oil prices declined for the second consecutive session on Thursday due to weak... Читать дальше...

This week saw the Iran-backed Houthis expand their reach, hitting six vessels in three seas, the Red Sea, the Arabian Sea, and the Mediterranean Sea. Prior to this, the Houthis had not managed to reach as far as the Mediterranean, which is a rather troubling development for the West. The attacks came only days after a Houthi spokesman warned of a new campaign targeting vessels heading to Israel from the Mediterranean. The Houthis also threatened to broaden attacks further in the Indian Ocean. This... Читать дальше...

The OPEC+ group is likely to roll over their current production cuts into the second half of 2024 when producers meet online this weekend, according to analysts and market expectations. The alliance is likely to extend the current 2.2 million barrels per day (bpd) production cuts, four anonymous OPEC+ delegates told CNBC ahead of the crucial meeting.   The group would want to avoid an abrupt change in course amid relatively stable oil prices in recent weeks, one of these delegates told CNBC. Last week... Читать дальше...

Americans continue to be fans of gasoline-powered vehicles and prefer them to electric vehicles (EVs) and hybrids, a new study by KPMG has shown. Assuming all costs and features are the same, just 21% of consumers prefer an EV, the inaugural KPMG American Perspectives Survey found. The survey assessed the views of 1,100 adults nationwide to understand their outlook on their personal financial situation and the U.S. economy and their attitudes to energy and automobiles, among other issues.   Asked... Читать дальше...

A group of 22 Democratic Senators led by Majority Leader Chuck Schumer have issued a call on the Department of Justice to investigate a claim made by the Federal Trade Commission that the former CEO of Pioneer Natural Resources had colluded with OPEC to keep oil prices high. “These reports are alarming and lend credence to the fear that corporate avarice is keeping prices artificially high,” the group said in the letter they sent to Attorney General Merrick Garland, as quoted by Reuters. The allegations... Читать дальше...

Russia’s Rosneft, the largest crude oil producer in the country, reported a 92.8% quarterly increase in its net profit for the first quarter of the year. Rosneft also said its average daily production had stood at 5.43 million barrels of oil equivalent daily during the reporting period, of which 3.85 million bpd were liquid hydrocarbons. At the same time, the company acknowledged the adverse effects Western sanctions have had on its operations, cutting off its access to the largest financial markets... Читать дальше...

Crude oil prices extended a two-day decline into the last trading day of the week pressured by Fed comments on rate cuts and the futures market swinging into contango for the first time since the start of the year, suggesting oversupply. Brent crude fell from over $84 per barrel earlier this week to below $82 earlier today while West Texas Intermediate fell below $78 per barrel. The latest slide in prices followed comments made by the president of the Dallas Fed, Lorie Logan, who said on Thursday... Читать дальше...

The shipping industry is one of the biggest targets for decarbonization planners. As such, it has also been the target for pointed efforts to reduce its fuel consumption—and the emissions that go with it. Lately, however, this has become harder because of other actions by those same planners who want cleaner maritime transport. Ships, which represent as much as 90% of global trade, consume massive amounts of fuel, and the overwhelming bulk of that fuel is derived from hydrocarbons. The International Maritime Organisation... Читать дальше...

For years, Kenya has been a leader in Africa in renewable energy’s share of its power mix. It now looks to capitalize on the booming clean technology industry and become a supply-chain partner of major economies, including the United States.   Africa has abundant key energy transition minerals. It also has a huge young generation and developing economies, all of which will need increasing demand for energy in the coming years and decades.  But debt-ridden African countries do not have the financial... Читать дальше...

Back in 2008, Virgin Atlantic flew a Boeing 747 between London and Amsterdam partly powered by a biofuel made from Brazilian babassu nuts and coconuts, with Sir Richard Branson hailing the event as a “vital breakthrough”. Last year, the airline one-upped the original event by staging the first transatlantic flight using 100% of these fuels, rather than in a blend with traditional jet fuel. These demos gave hope to aviation enthusiasts that it’s just a matter of time before Europe’s Flygskam, aka... Читать дальше...

Uzbekistan’s government appears intent on spending its way out of economic trouble. President Shavkat Mirziyoyev’s administration is making big bets on infrastructure projects in emerging economic sectors. And to hedge against the considerable risks, Tashkent is looking in all geopolitical directions to open new channels of trade and investment. Mirziyoyev’s approach seems driven more by necessity than a grand vision. Key pillars of the existing Uzbek economy – cotton and natural gas – are facing... Читать дальше...