Other Commodities
Hurrican fears shut down half of the Gulf of Mexico oil production
Energy producers have 1.07 million bbl / day or nearly 58% of offshore crude oil production and 1.2 million cf / day or 45% of natural gas production from the Gulf of Mexico because of the dual threat of Hurricane Marco and Tropical Storm Laura closed, …
What is happening with Glencore´s Congo Cobalt Mine?
A year ago, Glencore announced it would cease operations at its Mutanda copper-cobalt mine in the Congo, breathing life into a market whose trading volume was 70% below its peak 18 months earlier. Given that Mutanda is the largest cobalt mine in the world, …
Norwegian state oil fund announces large losses in first half of the year
The Norwegian Oil Fund, as the world's largest sovereign wealth fund is commonly known, lost $ 21 billion (Norwegian Krone 188 billion) in the first half of 2020 as the fund fell 3.4 percent in volatile markets. US $ 1 trillion government pension fund Global, …
Brazilian Oil Giant Petrobras starts major deepwater oil project
Brazil's state oil major Petrobras has initiated a new phase in the development of the first deep-sea oil project since the crisis began in the Mero field in the Santos Basin. According to a report from BNAmericas, the Brazilian major had ordered a floating …
Ivanhoe partners with Chinese mining conglomerate
Canada's Ivanhoe Mines announced an agreement with China Nonferrous Metal Mining (Group) Co. Ltd (CNMC) on Tuesday, under which the companies would jointly seek out African mining projects for exploration, development or acquisition. Ivanhoe co-chairs Robert …
Chinese government pushes large coal merger forward
China has approved the merger of two of Shandong Province's leading state-owned coal mines, Shandong Energy Group and Yankuang Group. This decision creates a new large company that is one of the world's leading producers and consumers of fossil fuels. The …
Platina Resources shifts focus on gold mining
Platina Resources (ASX: PGM) believes it can capitalize on investors' interest in gold. The company said today that it "quickly turned the business" and built a gold portfolio. In early June, the company entered into a conditional agreement to acquire a 100% …
Natural Gas prices soar after Texas heatwave
Natural gas prices soared nearly 9% on Friday, although the weekly storage report showed little movement. Natural gas prices rose to $ 2,367 at 2:26 p.m. EDT, an increase of 8.48% or $ 0.185, although the EIA's weekly storage report a day earlier showed a …
South American countries playing larger roles in offshore oil production
South America has made a cost-saving leap since 2013 when it was the world's most expensive region for deep-sea oil and gas production costs. Average operating expenses (Opex) per barrel of oil equivalent have more than halved since then, from about $ 26 to $ …
Mining Companies now prefer listings in London or New York
Canadian mining companies who want to attract new investors are increasingly opting for secondary listings in London and New York, which underlines the pent-up demand for the precious metal from generalist funds. Gold prices XAU = are up 32% this year as …