Trump or BRICS? Russell: The dilemma for Africa's miner and government:
The world is likely to be splitting in two over the long-term, despite the volatility and uncertainty caused by President Donald Trump's tariffs. After removing Trump's bluster, and his often contradictory behavior, the message appears to be pretty clear. Trump's worldview is that the United States are the only ones who can be trusted. This presents a problem for the mineral-rich countries of Africa, who want to maximize their benefits from their resources but also remain neutral.
Indonesia will offer carbon credits to foreign buyers in the near future
The carbon exchange in Indonesia announced that Indonesia will begin offering carbon credits to international buyers as early as next week. This is to raise money to support efforts to reach its carbon neutrality goal. Indonesia, an archipelago that has the third largest rainforest in the world, is one of the top 10 emitters of greenhouse gases. The exchange announced that the first sale of certificates of carbon credits for international buyers would be made on Monday, January 20.
A survey shows that big steelmakers are not switching to renewable energy sources.
A survey of 18 major firms revealed that the world's largest steelmakers are falling further behind in their shift to low-carbon production. Some still rely on fossil fuels as their primary source of energy. The steel industry is responsible for around 7% of the global CO2 emissions. This is about the same as India. Coal-fired blasting furnaces produce 2 tons of CO2 per ton of output. There are alternative technologies, such as electric arc-furnaces (EAFs), which can be powered by renewable sources.
The German wind is downturning and the temperature is dropping.
The European immediate power prices rose on Thursday as a result of the forecasts that German wind production volumes would plummet, and because colder weather is on its way in France. Riccardo Paraviero, LSEG analyst, said: "Tomorrow’s outlook is bullish. LSEG data show that the German baseload power for the day ahead was 50% higher at 145.5 Euros ($153.40), a record high in two weeks, at 0905 GMT. The French equivalent contract increased by 9.3% to 114.8 euros/MWh.
German Monday contracts are affected by the increase in wind power supply
German spot electricity prices for Monday dropped on Friday, as the wind generation in that region is expected to be higher than usual next week. However, power demand will also rise. LSEG data shows that the German contract price was 90 euros per Megawatt-hour (MWh), down 26.8% compared to the price paid on Friday. LSEG data revealed that the equivalent French contract was not traded. Guro Marie Wyller, LSEG's analyst, said that Monday is likely to see a further increase in wind power production following a surge over the weekend in Germany and neighboring countries.
Alchemy Resources, Australia, signs lithium partnership agreement with Japan's JOGMEC
Alchemy Resources, an Australian miner, announced on Monday that it had signed a deal with a Japanese government agency for the Japanese agency to fund up to A$6,000,000 ($4,15,000,000) in exploration costs to gain up to 51% ownership of Roe Hills in Western Australia. Alchemy Resources will manage the project for the duration of the partnership. Once the Japanese agency JOGMEC has acquired its vested interests in the tenements the two companies are expected to form a joint-venture, according to a company statement.
Southeast Asia is expected to increase coal trade as China nears its peak
Industry officials predict that Southeast Asian countries like Vietnam and Philippines will boost coal consumption and trade in this decade even as China, the top consumer, is approaching its peak demand. In a speech at the Coaltrans Asia Conference, Priyadi, the Chairman of the Indonesian Coal Miners Association, said that the Association expects China and India's coal imports to reach a peak in 2025. This will end the growth in the global seaborne trade volume for the polluting fuel.
Turkey's Botas buys 1.6 billion cubic meters of LNG from TotalEnergies over a 10-year period
Alparslan Bayraktar, the Turkish Energy Minister announced on Wednesday that Turkish state-owned energy company Botas had signed a 10-year contract to import LNG from French oil giant TotalEnergies starting in 2027. Bayraktar announced the deal on the social media platform X. The contract, signed at the GasTech conference, Houston, is for the annual delivery of 1.6 Billion cubic meters of LNG. The majority of Turkey's gas is imported from Russia, Iran, and Azerbaijan.
Oil Minister: India will continue to buy cheap Russian oil
Hardeep Singh puri, the oil minister, said that India was willing to continue buying oil from Russian companies who are permitted to sell oil at such low prices. Puri said in an interview given at the GasTech Conference in Houston that Western sanctions against Russia for its war in Ukraine have limited the price Russia could charge for its crude. India, he added, is willing to buy oil and natural gas from anyone at the lowest prices possible. He said that European countries as well as Japanese companies buy from Russia. India is therefore not the only one.
Southeast Asia is expected to increase coal trade as China nears its peak
Industry officials predict that Southeast Asian countries like Vietnam and Philippines will boost coal consumption and trade in this decade even as China, the top coal consumer, is approaching its peak demand. In a speech at the Coaltrans Asia Conference, Priyadi, the Chairman of the Indonesian Coal Miners Association, said that the Association expects China and India's coal imports to reach a peak in 2025. This will end the growth in the global seaborne trade volume for the polluting fuel.
APPEC/S&P Global predicts OPEC+ will increase their oil production next year
An executive from S&P Global told a Monday conference that the Organization of the Petroleum Exporting Countries (OPEC+) and its allies are expected to increase their production in 2025 for the first time since a few years. OPEC+ agreed last week to postpone a planned increase in oil production for October and November after crude prices fell to their lowest level in nine months. It added that it could further pause, or reverse, the hikes if necessary. Jim Burkhard told the Asia Pacific Petroleum Conference that OPEC+ would increase its production in 2025…
Spot prices fall on German wind supply surging
The European power prices fell dramatically on Thursday as wind and solar energy supplies were seen to be increasing in the entire region. German wind production is expected to be nearly six times higher than what was expected on Wednesday. German baseload electricity for Thursday dropped 46.8% to 68.75 Euros ($76.01 per megawatt-hour (MWh) at 0840 GMT. The French power price for the day ahead fell by 20.8%, to 82 Euro/MWh. LSEG data indicated that the German wind output will increase by 22.4 gigawatts on Thursday, to 27 GW.
Orsted and Iberdrola among the winners in record British renewable energy auction
Orsted and Iberdrola are among the winners in a British renewable energy auction that supported a record-breaking number of projects. The government announced this on Tuesday. The Labour government that came to power in July plans to decarbonise electricity by 2030. This will require an increase in renewable energy capacity, such as solar and wind. Ed Miliband, Energy Secretary, said in a press release that "today we achieved a record round of enough renewable energy for 11 million households.
Vietnam will select an investor for the $2.5 billion Nghi Son LNG Power Plant by October
A provincial official in Vietnam's Thanh Hoa Province said that authorities plan to select a developer for a $2.5billion LNG-fired energy plant by October through a competitive bidding process. The Nghi Son LNG Power Plant, located in the Nghi Son Economic zone of the province, would have a capacity of 1.5 gigawatts. It would begin commercial operations in 2030. Nguyen Tuan, the deputy director for the zone, said that the bids would be opened on 30 September and the investor's name would be announced in mid-October or at the end of October.
Exxon in Advanced Talks for $60B Acquisition of Pioneer - Sources
Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion, people familiar with the matter said on Thursday. The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998 and would expand its footprint in one of the most lucrative regions of the U.S. oil patch.Pioneer's shares rose nearly 12% to $240.47 in premarket trading on Friday while Exxon slipped 1.7%.Pioneer…
Global Crude Market Finds Support From China Demand
China, the global oil market's lifeline this year, has stepped up purchases from exporters like Russia, the United States and Angola in recent weeks, while buyers elsewhere pare orders as coronavirus infections surge and fresh lockdowns are put in place.China, the world's largest importer of crude, is the only major buyer expected to see increased oil demand this year as the pandemic destroyed consumption globally.With China's imports expected to reach 12 million barrels per day (bpd) next year…
China Grants Zheijang First Private Fuel Export License
China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private oil refiner to win such permission, two sources with knowledge of the matter said on Thursday.The license would allow ZPC to directly sell oil products to the international market, competing against state-owned refiners and helping to ease oversupply pressure in China's domestic market.However, the refiner will still need to be granted a government quota that will determine the size of its exports before it can begin shipments…
Japan's JERA, France's ADEME, Ideol in Floating Wind Pact
Japanese power generator JERA said on Monday it has agreed with France's state-owned investment firm ADEME Investissement and French floating wind technology supplier Ideol on key terms for forming a joint venture to develop floating offshore wind farms.They aim to make a final agreement by the end of this year to jointly establish an investment vehicle to finance the development phase of at least 2 gigawatts(GW) of floating offshore wind projects using Ideol's technology…
CNOOC, Shell JV sign $5.6B Ethylene Plant Expansion Deal in China
CNOOC and Shell Petrochemicals Company Ltd (CSPC), a joint venture established by China National Offshore Oil Corp(CNOOC) and Royal Dutch Shell, signed a framework agreement worth $5.6 billion with China's Huizhou city government to expand its ethylene project in the city.CSPC is expected to add 1.5 million tonnes per annum ethylene production capacity on top of its existed 2.2 million tonnes in Huizhou, according to a statement issued by CNOOC on Sunday nightThe new project will have 14 petrochemical production lines to churn out products including ethylene, propylene, but
China Issues Second Batch Fuel Export Quotas
China has issued 28 million tonnes of refined fuel export quotas in the second allotment for this year, little changed from the first batch of 27.99 million tonnes issued last December, according to four sources with knowledge of the matter.The quotas were released last week to five state oil companies, PetroChina, Sinopec, China National Offshore Oil Corp, Sinochem Group and China National Aviation Fuel Corp, the sources said.The new quotas, of mostly gasoline…
