|今日波幅||70.10 - 71.77|
Russian oil exporters have almost doubled their use of ageing ships since the start of the Ukraine war, raising concerns in the shipping industry that workers and the environment are being put at risk by vessels that belong on scrap heaps. The share of seaborne exports of Urals — Russia’s main crude blend — carried on ships more than 15 years old has surged since the war began, according to figures from shipbroker Braemar. Western nations have imposed a series of restrictions on the sale of Russian oil since the full-scale invasion of Ukraine in February 2022, but total seaborne exports have continued to rise as the product flows to Asia instead.
The UK government’s efforts to boost investment in the North Sea by scaling back the windfall tax on oil and gas producers have been dealt a blow as one of the basin’s leading operators blamed the levy as it halted drilling. Ministers introduced a price floor on the windfall tax on Friday following months of lobbying from the sector, which argued it was deterring investment, and putting jobs and energy security at risk. Apache produces about 50,000 barrels of oil equivalent per day, according to analysts Wood Mackenzie, making it the North Sea’s ninth largest operator.
In this article, we discuss the 10 best coal mining stocks to buy. If you want to read about some more coal mining stocks, go directly to 5 Best Coal Mining Stocks to Buy. The global coal mining industry has long been a vital component of the energy sector, playing a significant role in powering […]
Britain’s windfall tax on oil and gas producers is set to be scaled back as part of efforts to boost investment in the North Sea, according to three people briefed on the government’s plans. The chancellor, Jeremy Hunt, is expected to confirm plans to introduce a “floor” on the 35 per cent levy in the coming days so that it only applies if oil and gas prices trade above a certain level. Treasury officials are due to meet the oil and gas industry on Friday at a forum in Aberdeen.
A proposal to drill for oil in the sea off the mouth of the Amazon river has exposed a rift in the cabinet of Brazilian president Luiz Inácio Lula da Silva, lining up an important test of his pledges to halt environmental destruction. National oil and gas company Petrobras has lodged an appeal after the environmental agency rejected its request to drill an exploratory well in the zone known as the Foz do Amazonas, or Amazon Mouth basin, some 175km from the country’s northern coast.
Oil prices have come down quite a bit from their 2022 peak. While that has prompted some traders to bet against the commodity, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has issued a stern warning for the short sellers. “I keep advising them that they will be ouching — they did ouch in April,” he said at the Qatar Economic Forum in May. And now OPEC+, which includes the Organization of the Petroleum Exporting Countries and its allies, has reached a deal to extend output cuts into
Oil is back down again on Tuesday, despite Saudi Arabia's recent production cut announcement. The problem is demand, say strategists.
Saudi efforts to shock-and-awe the oil market with a big surprise supply cut over the weekend look more like shock-and-yawn a couple of days later. Crude prices held largely steady despite another Saudi pledge to slash output, with Brent settling on Monday at $76.71 a barrel, up less than 1 per cent. It is the third cut from the Saudis since October as they try to propel a crude price rally in the second half of this year.
US stocks fell Monday as investors digested weaker-than-expected economic data ahead of next week's Federal Reserve meeting. Strong jobs numbers and passage of the US debt ceiling bill sent major indexes higher last week.
Barring of journalists from this weekend’s Opec+ meeting underlines Prince Abdulaziz’s tempestuous reputation
China's swift progress to improve diplomatic and economic ties with Saudi Arabia has added green energy, finance, infrastructures and information technology to traditional oil and gas cooperation as the Middle East seeks an "ideal partner" to aid its development, according to academics and analysts. Beijing's focus on the Middle East through Saudi Arabia will also help China fill the void left by the United States, which is seen to have been pivoting towards the Indo-Pacific region, they added.
Indonesia and Malaysia have said they will delay trade talks with the EU while they seek fairer treatment for small palm oil producers hit by the bloc’s “punitive” new rules to prevent deforestation. Dato’ Sri Haji Fadillah bin Haji Yusof, deputy prime minister of Malaysia, told the Financial Times during a visit to Brussels on Wednesday that the EU’s recently adopted law banning the import of products that come from land cleared of forests, was “punitive and unfair treatment towards us and to smallholders in particular”. Indonesia, which has been negotiating with the EU over a free trade agreement for seven years, said it would not progress those talks until more leniency was given to palm oil producers under the new EU rules.
The oil supermajors’ proxy season culminates with ExxonMobil’s and Chevron’s annual meetings tomorrow. Today we carry a candid op-ed from Mark van Baal, head of Follow This, a small activist shareholder which tabled some of the recent climate resolutions. Van Baal argues that institutional investors need to get serious about their own commitment to the Paris Agreement climate targets again.
Currently, I’d say the oil industry outlook is murky at best. In general, the black stuff is closely tied to the economic performance of its largest consumers – the U.S. and China. That’s because when the economy is good, people are building new things, traveling, and spending on new goods. All of those things require energy, and oil is the key power source for the global economy. On the flip side, a slowdown means oil supplies outweigh demand, and that can bring commodity prices crashing down.
While Russia is likely to increase its use of the yuan and also sell more oil to China, bilateral trade may have reached a "plateau", according to analysts. Russian Prime Minister Mikhail Mishustin, who expects bilateral trade to reach US$200 billion in 2023, hailed relations with China as being "at an unprecedented high level" after signing a set of agreements during a meeting with Chinese Premier Li Qiang in Beijing on Wednesday. Mishustin later met President Xi Jinping, while Li added that Ch
Trio Petroleum Corp (NYSE: TPET) announced that its HV-1 well had confirmed a significant accumulation of oil and gas in the President's Field in its South Salinas Project in Monterey County, California. What happened: The HV-1 well is a two-mile step-out from Trio's HV-3A discovery well that found high-quality, mid-gravity oil at depths between 3,750 to 5,100 feet. The company is currently running well casing from surface to total depth to complete the well properly and is commencing its evalua
China's imports from Africa fell by 11.8 per cent to US$35.5 billion in the first four months of this year compared to the same period last year because of weakened demand for minerals and lower commodity prices - a trend analysts attributed in part to a subdued economic recovery in China and a Congolese mine dispute. Since the start of the year, China has imported fewer goods from the resource-rich countries of Angola, the Democratic Republic of the Congo (DRC), Algeria, Egypt and Zambia. The d
For traditional coal miners, work can be a scene from hell. Descending into the dark 100-metres below ground via narrow shafts, miners dig out black gold amid clouds of dust, sweat and the shattering noise from giant shearing machines used to cut through rocks. This kind of mining is regarded as one of the most demanding jobs in China, and there are special provisions in law to allow these workers - almost exclusively male - to retire at the age of 55 instead of the usual 60. Do you have questio
An oil market slightly oversupplied will soon be undersupplied, says one strategist.
In recent weeks oil prices have tanked leading to some overvalued energy stocks. Through the first week of May, crude oil prices declined for three consecutive weeks in what amounts to the biggest pullback since November 2022. In the first week of May alone, the price of West Texas Intermediate crude oil, the U.S. standard, fell 7% and slipped below $70 per barrel. The primary reasons for the decline are growing fears of a recession and demand concerns. U.S. investment bank Goldman Sachs (NYSE:G
China needs to seek alternative solutions to ensure its energy security, rather than relying on building new coal-fired power plants, according to Germany's climate envoy. Jennifer Morgan, Germany's state secretary and special envoy for international climate action, told the South China Morning Post in an exclusive interview that she was concerned about China's coal plant development. "We are concerned. We need to think about energy security and climate security together now," she said in the in
Lower oil prices have played out in tandem with the regional banking turmoil.
Momentum is growing to enact unlimited deposit insurance, even among anti-bailout free marketeers.