JPMorgan selects Perpetua Resources as the first investment in its $1.5 trillion security funds
Perpetua Resources, an antimony and gold mining company, is the first investment made by JPMorgan Chase’s $1.5 trillion fund to support U.S. National Security. This underscores the company’s important role in producing the metal that China has banned and is used for bullets and weapons. JPMorgan, whose details were revealed on Monday, will invest $75m of its own money for a stake of nearly 3% in Perpetua. Perpetua is building the biggest U.S. mine of antimony about 138miles (222km) north of Boise. The agreement was signed Sunday and expected to be closed on Tuesday. LSEG data shows that the bank currently holds 20,000 shares in Perpetua.
U.S. natural-gas sector deals will surge in 2025 due to AI and LNG demand from Asia
Analysts say that U.S. Natural Gas dealmaking is expected to increase in 2025, due to the record demand for power from AI data centres, increased LNG exports, and renewed Asian investments. According to the U.S. Energy Information Administration, data centers will be responsible for a surge in electricity demand that is unprecedented this year. The price of benchmark gas dropped sharply last year, from the multi-decade highs set in 2022, after sanctions against Russia slowed negotiations. However, a rebound followed, as well as long-term LNG demand and domestic sales, have kept global buyers interested.
US and Qatar fill the gap left by EU's ban on Russian LNG imports
PARIS/LONDON - According to analysts and data, the European Union can replace Russian LNG imports from 2027 with an alternative supply without any major price shocks. This is due to booming projects being undertaken in the United States of America and Qatar. The EU approved new sanctions on Russia Thursday for its conflict in Ukraine. These sanctions ban Russian LNG imports starting January 1, 2027. This is a year sooner than originally planned. The EU's energy payments to Moscow are now under scrutiny again after U.S. president Donald Trump demanded the European Union cease all purchases.
German spot prices fall on strong wind supply
German spot prices for Friday were lower than the French equivalent price, as wind production is expected to increase and demand is seen declining. LSEG analyst Naser Hazemi stated that Germany's wind power production is increasing, and the solar industry has also increased. Lower demand, coupled with a higher supply, will reduce residual load. France, on the other hand, may become a net exporter, due to its bullish economic conditions. By 0956 GMT, the German baseload day-ahead contract was down 65.2% to 27.40 Euros ($31.95). The French equivalent contract increased by 77.8% to 32 euros/MWh.
Venture Global receives permission to add natural gas to the final LNG block of Plaquemines Plant
Venture Global has received approval from the Federal Energy Regulatory Commission to add natural gas to the final block at its Plaquemines LNG Export Facility in Louisiana, according to a Federal Energy Regulatory Commission filing. Venture Global's approval by FERC means that it could begin producing liquefied gas at its Plaquemines facility this week. This is more than a full year before the company expects to deliver its first batch of long-term clients with the gas they have contracted. Venture Global, which is the second-largest LNG exporter in America…
Venture Global to add natural gas to final part of Plaquemines LNG Plant, a filing shows
Venture Global asked federal regulators to allow it to inject natural gas into the final section of its Plaquemines Liquefied Natural Gas plant by Thursday, according to an official filing made on Monday. Venture Global, if the Federal Energy Regulatory Commission gives the permission, will be producing LNG soon from its entire Plaquemines facility, and more than a full year before it's expected to deliver its first batch of long-term customers their contracted quantities of gas. The Plaquemines Export Facility in Louisiana, once completed, will reach its maximum capacity of 27,2 million metric tonnes per year (mtpa).
NextDecade receives positive FID for Train 5 of the Rio Grande LNG Project in Texas
NextDecade, a U.S. producer of liquefied gas, announced on Thursday that it had made a final investment decision in favor of the fifth liquefaction train (also known as a liquefaction station) for its Rio Grande project. The company's shares rose by over 4% during extended trading as this announcement marked the 5th positive FID of an LNG project in the U.S., the world's biggest exporter of super-chilled fuel. After President Donald Trump lifted his moratorium on new LNG export permits shortly after assuming office in January, the U.S. LNG industry has seen an increase in commercial activity.
EU rules to ban 'backdoor' Russian oil
A document published Thursday reveals that the European Union requires fuel importers to prove that their fuels were not made with Russian crude. The document gives guidance on the EU’s forthcoming ban on fuels refined from Russian oil, as part of its 18th package of sanctions against Russia for its war in Ukraine. The ban will take effect on January 21, 2019. WHAT IS THE EU ADVISE TO IMPORTERS? Operators are expected to give EU Customs "appropriate proof" of where the crude oil that was used to refine the fuel came from. However, there are some important exceptions.
North American LNG Exporters Look to Double Capacity by 2029
Liquefied natural gas exporters in the U.S. have announced plans to more than double U.S. liquefaction capacity, adding an estimated 13.9 billion cubic feet per day (Bcf/d) by 2029, the U.S. Energy Information Administration said on Thursday.The EIA cited its Liquefaction Capacity File and trade press reports for the forecast, and added that the U.S.
Saudi Aramco CEO: Saudi Aramco's maximum oil production capacity can be sustained for an entire year at 12 million barrels per day.
Saudi Aramco's Chief Executive Amin Nasser said that the company can maintain crude oil production of 12 million barrels a day (bpd), for an entire year, without incurring any additional costs. Saudi Arabia has a large share of the world’s spare oil supply – idle oil that can be quickly brought to market. Nasser, speaking at the Energy Intelligence Forum held in London, projected that global oil demand will rise by between 1.1 and 1.3 million barrels per day (bpd) this year, as well as by 1.2 to 1.4 millions bpd by 2026. Nasser stated that Aramco's oil extraction costs were $2 per barrel equivalent (boe), and $1 for gas.
Oil Prices Drop Amidst Gaza Ceasefire Plan As Risk Premium Fades
Oil prices declined to multi-month lows on Friday as the market's risk premium faded after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza.Brent crude futures were down $1.73, or 2.7%, at $63.49 a barrel at 1316 GMT. Earlier, they fell to $63.27, the lowest since early June.U.S. West Texas Intermediate crude was down $1.71, or 2.8%, to $59.80. The contract had dropped to $59.57 a barrel, the lowest since early May."Finally having some kind of peace process in the Middle East is lowering the shoulders a little bit," said Bjarne Schieldrop, chief commodities analyst at SEB.
Venture Global sinks after BP's arbitral win raises concerns over pending disputes
Venture Global's shares fell by about 20% Friday, after the U.S. exporter of LNG lost an arbitration against BP for failure to meet a long-term contract. This stoked fears of similar verdicts with other customers who are suing for billions of dollar compensation. The recent victory of Venture Global in an arbitration against Shell was a shock to BP. BP wants more than $1 billion plus interest and legal fees in damages. The final amount will be determined at a separate hearing scheduled for 2026. Venture Global, second largest U.S. supplier of liquefied gas…
ARM Energy to Invest $2.3b in Mustang Express Pipeline
ARM Energy Holdings said on Thursday it has reached a final investment decision on its $2.3 billion Mustang Express Pipeline project in Texas, along with its partner Pacific Investment Management Company.ARM, an energy marketing firm, said the project benefits from a long-term agreement with Sempra for shipment of natural gas for its Port Arthur LNG Phase 2 project, which recently achieved its own final investment decision.Earlier this month, Sempra said it would sell a 45% stake in its infrastructure unit for $10 billion, and has approved a $14 billion expansion of Port Arthur LNG project in Texas.The U.S.
Brazil's soybean exports will hit a record high as US market is out and Chinese demand strong
Data from the grain exporter Anec showed that Brazil's soybeans exports will surpass the annual volumes of 2024 and even 2023 due to the absence of U.S. rivals serving Chinese importers. According to Anec, the previous record for soy exports from Brazil was 101.3 million tonnes in 2023. Brazil's soybean farmers will harvest a record crop of more than 170 million tonnes in 2025. This is in addition to the strong demand from China, who are embroiled in an ongoing tariff war with America. Anec data revealed that China imported 6.5 millions tons of goods from Brazil in September. This represents 93% of Brazil's total export volume, a share which is historically high.
Audit says that Congo mining companies underreported revenues of $16.8 Billion.
A state audit revealed that mining companies in the Democratic Republic of Congo failed to report $16,8 billion between 2018 and 2023. This could have resulted in a reduction of funds for both the government and the local communities. According to the 2018 Congo mining code, companies must contribute 0.3% annual revenue towards community development funds, which typically support schools and clinics, as well as water systems. The June audit of the Court of Auditors of the country, which was seen on October 5, but previously not reported, revealed that companies had declared $81.4 billion for the development fund, but reported tax authorities $98.2 million.
Minister says Indonesia is on track to reach B50 biodiesel by 2026, reducing gasoil imports.
Indonesia will make B50 biodiesel, which is 50% palm oil based biofuel (B50), mandatory by 2026 to reduce gasoil imports. This was announced by the country's energy minister. Indonesia, the world's largest palm oil producer, has set a biofuel content requirement of 40%. It is now working to increase palm oil to the blend in order to reduce its dependence on fossil fuel imports. In a late-night statement on Tuesday, Minister Bahlil lahadalia stated that the government was planning to "push for B50" by 2026 in an effort to stop gasoil exports. Before shifting to B50. An official from the Energy Ministry said that road tests will be conducted on the B50 mixture in August.
Exxon Mobil eyes South Africa as a top LNG destination
Exxon Mobil has its eye on projects in South Africa, which it considers to be a top destination in the world for liquefied gas (LNG), said a senior gas executive at an African Energy Conference in Cape Town. The U.S. has the highest natural gas production and is the largest LNG exporter in the world. With several new projects expected to come online, this could lead to a gas glut by the year 2030. The electricity minister previously stated that South Africa is in talks with Qatar, a rival LNG producer, to secure supplies of LNG for its industry, as imports from Mozambique, whose pipeline supplies most of the gas, begin to dry up.
Andy Home: Depleted LME Zinc Stocks may Need a Chinese Booster
The market for zinc has only just realized that the London Metal Exchange's inventory is so low it could cover less than one day of global consumption. The LME spreads have become volatile, and the cash premium on the three-month price has increased. Last week, the price of a metric ton reached $60. This was a level that had not been exceeded since 2022. All signs point to a market in severe supply deficit. The International Lead and Zinc Study Group, however, estimates that there was a global surplus in the first seven month of this year of 72,000 tonnes. The bad news is that it appears the excess metal on the LME market is in China.
Palm oil prices drop 3% after Argentina removes the export tax on soyoil
The price of palm oil futures in Malaysia fell by more than 3% after the top exporter of soyoil, Argentina, temporarily removed its export tax. This made soyoil less expensive than palm oil. After a slight rise of 0.41% in the previous session, the benchmark palm oil contract on Bursa Derivatives Malaysia Exchange for December delivery fell 162 ringgit or 3.65% to 4,281 Ringgit ($1,020.26) per metric ton at the midday break. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari. He said that the Argentina news caused a massive sell-off on the Chicago and Dalian market. This spread to the palmoil market.
Russia downgrades gas exports, production outlook
Russia's forecasts for 2025 gas and oil exports have been lowered, while projections on oil exports have increased. The fallout of its conflict with Ukraine as well as its strained relations with the West continue to impact the energy sector. While Russia's economy is still thriving despite the sanctions, signs of stress are appearing in several industries. Gazprom, the state-owned gas exporter, suffered losses of nearly $7 billion in 2023. This was its first loss since 1999 due to a breakup with the European Union. Russian gas is now only 18% of European imports. This is down from 45% by 2021. Oil imports to the EU from Russia are also down from 30% in that period to just 3%.