Companies are finding lots of oil again
The oil industry is finding lots of hydrocarbons thus far in 2019, putting discoveries on pace to grow by 30% this year if they keep it up, the consultancy Rystad Energy said this week. admin
Category: Editor’s Choice
Myanmar pea prices spike on speculation of more demand from India
India last week announced a 500,000-tonne import quota for Myanmar beans for the next fiscal year. The quota includes 150,000 tonnes each of green beans and mung beans and 200,000 tonnes of pigeon peas. It will compete with Canada, Australia and other countries in Africa in exporting mung beans and pigeon peas to India, reports […]
OPEC and India are stoking bullish sentiment
Crude oil prices bottomed out with the stock market on Christmas Eve 2018 at a low of $42.36 per barrel and have been rising consistently ever since. According to Investopedia, Investors seem to be revising their global economic growth estimates higher, and this is creating bullish pressure on the demand side of crude oil’s supply-and-demand […]
Europe is entering its golden age of gas
In a 2011 report, the International Energy Agency (IEA) asked a provocative question: are we entering a golden age of gas? At the time, U.S. shale gas production was surging and new fields were coming online around the globe, encouraged by high oil prices. Gas, it seemed, was poised to “play a far more prominent role […]
Increase in India’s energy consumption nearly double global demand growth
Primary demand for energy in India, which increased four percent last year, significantly exceeded modest growth of 2.3 percent seen worldwide, according to the latest report by the International Energy Agency. admin
How dust storms are adding to pollution woes of North India
Most dust storms over the Indo-Gangetic plains originate in the Arabian Peninsula and Thar desert areas and are known to contain nitrates that get converted into oxides of nitrogen through a process called re-noxification, according to a new study. admin
China-assisted cobalt bust hits local players
Chinese cobalt miners and related-product makers are suffering from plummeting prices for the metal, following a rapid build-up of new mining capacity, coupled with sliding demand from a Chinese new-energy vehicle sector now undergoing consolidation, reports Caixin. admin
China, US to resume trade talks, but divisions over tariffs remain
After a nearly month-long pause, Chinese and US trade officials are scheduled to hold two back-to-back rounds of high-level talks starting next week, signalling that the two economic powers are rushing for a final deal to end their tit-for-tat trade war, despite apparent divisions. While the planned talks reflect renewed urgency – particularly from the […]
Scrapped OPEC+ April meeting may be Saudi way of silencing dissent on oil cuts
Saudi Arabia gives the impression that the alliance of 24 oil producers it leads with Russia will be ruthless in carrying out deep production cuts over the next three months, and the market bought the portrayal by pushing U.S. crude up to just short of $60 per barrel. While Riyadh’s intent to drain the market of excess […]
Rio tells shareholders it can’t control what Chinese do with iron ore
Rio Tinto has hit back at a push by activist investors to make it more accountable for carbon emissions produced by its customers, including Chinese steel mills. Rio chairman Simon Thompson said the company had little control over such emissions, rejecting a push by Friends of the Earth-backed Market Forces to set reduction targets and detail […]