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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
785.07
-29.94
684.00
-3.00
Oct 14
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	785.07	-29.94	684.00	-3.00	Oct 14

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
544.54	+0.06	628.49	-0.52	790.75	+1.50	Oct 14

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MBP INDEX vs DBP INDEX (ICE/NYMEX)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	Date
Rotterdam	521	499	+22	560	598	-38	684	792	-108	Oct 14
Singapore	497	519	-22	616	606	+10	697	801	-104	Oct 14
Fujairah	465	529	-64	602	597	+5	773	849	-76	Oct 14
Houston	480	494	-14	560	620	-60	695	717	-22	Oct 14

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Latest News
- 2024-10-14
  Oil prices fall by more than $1 on deflation worries in China
  Oil prices fell by more than $1 a barrel, losing over 1.5% in early trading on Monday, after disappointing Chinese inflation data and a lack of clarity on Beijing's economic stimulus plans stoked fears about demand. Brent crude futures were down $1.26,... Read more Oil prices fell by more than $1 a barrel, losing over 1.5% in early trading on Monday, after disappointing Chinese inflation data and a lack of clarity on Beijing's economic stimulus plans stoked fears about demand.
  Brent crude futures were down $1.26, or 1.59%, at $77.78 per barrel by 0020 GMT, and U.S. West Texas Intermediate crude futures fell $1.20, or 1.59%, to $74.36 per barrel.
  The negative news from China outweighed market concerns over the lingering possibility an Israeli response to Iran's Oct. 1 missile attack could disrupt oil production, though the U.S. has cautioned Israel against targeting Iranian energy infrastructure.
  China's deflationary pressures worsened in September, according to official data released on Saturday, and a press conference the same day left investors guessing about the overall size of a stimulus package to revive the sputtering economy.
  The consumer price index rose 0.4%, the data showed, missing expectations, and the producer price index fell at the fastest pace in six months, down 2.8% year-on-year, according to the National Bureau of Statistics.
  "Saturday's briefing by the China Ministry of Finance has turned out to be a flop. The fiscal measures needed to remove downside risks to growth and ignite the animal spirits within Chinese consumers (are) conspicuous in their absence," IG market analyst Tony Sycamore said in a note.
  Beijing said on Saturday it would ramp up debt issuance but failed to give a dollar figure.
  Both oil benchmarks had settled up 1% on the week on Friday as investors weighed possible supply disruptions in the Middle East and Hurricane Milton's impact on fuel demand in Florida.
  
  The U.S. on Friday expanded sanctions against Iran in response to its Oct. 1 attack on Israel, targeting its "ghost fleet" that ferries illicit oil supplies across the globe.
  In the U.S. market, energy firms last week added oil and natural gas rigs for the first time in four weeks, according to a closely followed report by energy services firm Baker Hughes.
  The oil and gas rig count, an early indicator of future output, rose by one to 586 in the week to Oct. 11.
  The impact of Hurricane Milton boosted short-term demand in the U.S. as evacuations supported gasoline consumption, but weak demand dominated the fundamentals outlook.
  Oil major BP (NYSE:BP) posted a $600 million drop in its third-quarter profit on Friday because of weak refining margins amid a slowdown in global oil use. Source: Reuters/Investing.com
- 2024-10-14
  Gas Crunch Looms as Demand Outpaces Supply Growth
  Natural gas demand is set to increase more than previously expected, the International Energy Agency reported recently. Demand will remain strong next year as well, the agency predicted, warning that this might lead to a problematic situation with supply—because... Read more Natural gas demand is set to increase more than previously expected, the International Energy Agency reported recently. Demand will remain strong next year as well, the agency predicted, warning that this might lead to a problematic situation with supply—because that’s not growing fast enough.
  
  Just a year ago, the International Energy Agency predicted that oil and gas demand would peak before 2030. That prediction had the IEA saying there was no need for further investments in the production of either hydrocarbon. Now, it appears there is nowhere near enough investment in new natural gas production, for one. So, a shortage is on the way.
  
  Just a few years ago, there was a substantial glut on the LNG market. Everyone was in a rush to build LNG plants, and supply increased faster than demand. In those past few years, however, a lot of countries developed a taste for the liquefied fuel as a cleaner alternative to coal—and not too expensive, either. Of course, prices have changed from the glut times, notably in 2022, when a lot of Asian LNG buyers were priced out of the market by rich Europe, which suddenly found itself cut out of most Russian pipeline supply.
  
  Since then, Europe has cemented its place as a major LNG importer, currently preparing for the end of the last remaining Russian pipeline gas flow after Ukraine said it would not renew a transit agreement with Gazprom. This means Europe will need more LNG—but there is not enough new supply coming. What this means is another price shock, and poorer nations trying to reduce their dependence on coal are getting priced out once again.
  
  Why is new supply so slow in coming, one might reasonably wonder at this point, given the rosy outlook for gas demand. The IEA is only the latest in a string of forecasters expecting growing demand for the commodity—thanks to the shift away from coal, thanks to growing populations, and, of course, thanks to artificial intelligence.
  
  There seem to be several reasons for the slow expansion in supply. One is purely physical, per a recent Bloomberg report that looked at the imbalances in the natural gas market. LNG production plants take a while to build—and they face rising construction costs and a growing regulatory burden in the world’s biggest producer and exporter of the fuel: the United States. To add insult to injury, one LNG project just saw its permit revoked by a court on climate change-related grounds.
  
  There is also the so-called pause on new LNG capacity, which may not be relevant to immediate demand but will become relevant in the medium term as the demand growth for natural gas continues to increase, driven by Big Tech and its artificial intelligence rush. That was adopted by the Biden administration earlier this year, based on a single study claiming that natural gas was worse for the atmosphere than coal. While some have criticized the study for multiple flaws, it was enough for the U.S. federal government—tightening future gas supply markets.
  
  The European Union, despite its strong appetite for LNG, has not been helping itself. The bloc recently passed a new piece of legislation called the Methane Regulation that seeks to ensure that only low-emission LNG enters the EU. This, of course, would make it even more expensive for suppliers to build their production facilities, adding to the final cost of the fuel. As a silver lining, the regulation would probably free up non-certified LNG supply for less wealthy buyers, reducing the demand pressure on suppliers.
  
  “The growth we’re seeing in global gas demand this year and next reflects the gradual recovery from a global energy crisis that hit markets hard,” the IEA’s energy markets director Keisuke Sadamori said in the news release on demand and supply trends. “But the balance between demand and supply trends is fragile, with clear risks of future volatility,” Sadamori also said.
  
  This is an interesting observation, given the IEA’s firm belief that demand for hydrocarbons is being squeezed out by alternative energy sources such as wind and solar. It was that belief that prompted the agency to repeatedly forecast peak demand for oil in about four years and peak demand for gas two years later. Now, it appears that gas demand is still very much tied to economic growth or its absence—with all due implications.
  
  Europe is struggling to register any growth whatsoever, and access to affordable gas is key for the successful outcome of this struggle. Various international organizations concerned about the Earth’s climate want Asian nations with growing energy needs to use more gas than coal. For that, gas needs to be cheap, which it is not going to be anytime soon. Yet another stumbling block on the obstacle course of the transition. Source: Oilprice.com
- 2024-10-14
  Private Equity Firms Are Still Pumping Billions Into Fossil Fuels
  Despite the growing pressure to stop funding fossil fuel companies and support decarbonization efforts, several private equity firms are still pumping billions of dollars into the oil and gas industry. Meanwhile, most of these firms are overstating their... Read more Despite the growing pressure to stop funding fossil fuel companies and support decarbonization efforts, several private equity firms are still pumping billions of dollars into the oil and gas industry. Meanwhile, most of these firms are overstating their support for a green transition and the decarbonization of the economy. The lack of transparency in the sector is allowing many firms to make risky investment decisions and finance some of the dirtiest fossil fuel projects with few repercussions.
  
  A new report from Americans for Financial Reform Education Fund (AFREF), Global Energy Monitor, and Private Equity Stakeholder Project shows how private equity firms are continuing to use public sector workers’ retirement savings to finance fossil fuel projects. These companies have injected over $1 trillion into the energy sector since 2010, mainly buying into old and new fossil fuel projects. The report states that because of exemptions from many financial disclosures, these firms can keep investing in fossil fuels with little public knowledge of their financing choices. The private equity energy tracker created by the three organizations will continue to track the investments of these 21 firms to try and provide greater transparency about their financing.
  
  Private equity firms are raising funds to invest in fossil fuels by mortgaging workers’ futures. The report states, “Public sector workers’ money, through national, state, and retirement pensions, provides much of the capital for private equity firms’ energy investments, but there is limited disclosure to the pension fund managers that the deferred earnings of their beneficiaries have potential climate impacts.”
  
  The report assesses the investments of 21 private equity firms, which oversee a total of $6 trillion in assets. All 21 firms were found to be financing fossil fuel projects, which together are responsible for releasing over 1.17 billion tonnes of carbon dioxide equivalent every year, which is higher than the global emissions of the pre-pandemic aviation industry. In total, the firms funded at least 272 companies in the fossil fuel industry out of 404 energy companies overall and own some of the most polluting fossil fuel projects in North America. Many of these firms have also financed projects outside of the U.S., in at least 40 different countries in high-income states as well as in emerging economies, such as India and Brazil.
  
  The researchers collected data from financial data services, company websites, press releases, and news reports, focusing solely on investment in upstream, fossil gas terminals, and coal plants. Out of all the companies, EIG ranked at the bottom receiving an ‘F grade’, with 23 fossil fuel companies in its portfolio, contributing to the release of 255 million metric tonnes a year.
  
  It appears that many private equity firms are financing older and dirtier fossil fuel projects that major oil and gas companies are trying to get rid of, as most large banks view the investments as risky, leaving a gap in the market. Despite the risky nature of these projects, private equity firms are not required to publicize these investments, due to limited disclosure rules, regulatory loopholes, and complex corporate structures. Approximately 67 percent of the combined energy portfolios of the 21 firms were in fossil fuels. Meanwhile, many of these firms are proclaiming their support for the green energy transition and their commitment to rigorous ESG standards.
  
  Dustin Duong, a research associate at AFREF, stated, “We knew that private equity has been secretly expanding into the global energy sector, but this data has been truly eye-opening.” Duong added, “It punctures their claim that they understand the urgency of the energy transition and the need to pivot to investments that can help solve the climate crisis. Until they stop supporting polluting industries, their claim of protecting communities, especially communities of color and low-income neighborhoods, will always ring hollow.”
  
  According to separate research from S&P Global, the private equity and venture capital deal value in the oil and natural gas sector between January to mid-August this year surpassed the $6.61 billion reached at the end of 2023. This puts private equity-backed fossil fuel deals on track to reach the highest value since 2020. Private equity firms announced 47 investments in oil and gas over this period, with the U.S. and Canada dominating the sector. The growing investment trend aligns with the rise of artificial intelligence (AI) and the increased need for energy to power new technologies, that cannot be met with renewable sources alone.
  
  Recent investigations suggest that private equity firms are investing greater levels of finance in fossil fuels than previously thought. Due to loopholes in reporting systems, many firms are not disclosing the full extent of their oil, gas, and coal investments, as well as the risk involved in these projects. In addition, the number of investments reported by private equity firms in fossil fuels is rising to pre-pandemic levels, in line with the increase in demand for high energy-consuming technologies, such as AI. This financing trend goes against government aims to decarbonise the economy and invest in an accelerated green transition.
  
  Source: Oilprice.com
- 2024-10-14
  The New Oil? Rare Earths Spark Global Power Play
  The rare earths market is experiencing a period of significant volatility, driven primarily by China's recent export restrictions. These restrictions, which came into effect on October 1, 2024, have already led to an 8.33% increase in the prices of... Read more The rare earths market is experiencing a period of significant volatility, driven primarily by China's recent export restrictions.
  
  These restrictions, which came into effect on October 1, 2024, have already led to an 8.33% increase in the prices of many critical resources.
  
  China's Dominance and the Impact of Export Restrictions
  
  China is the world's leading producer of rare earth elements, a group of 17 metals crucial for various technologies, including electric vehicles, renewable energy systems, consumer electronics, and defense applications.
  
  Given China's dominance in this market, any policy changes impacting rare earth exports have far-reaching global consequences.
  
  Historically, China has used export restrictions as a lever to influence global markets. In 2011, similar restrictions led to a dramatic surge in rare earth prices, reaching approximately $67,000 per metric ton.
  
  The current restrictions are expected to have a similar impact, creating supply constraints and driving up prices.
  
  Challenges for U.S. Businesses
  
  The U.S. is heavily reliant on China for rare earths, despite ongoing efforts to diversify supply chains. These new restrictions pose significant challenges for U.S. businesses, including:
  
  Increased Costs: Higher rare earth prices directly impact the cost of manufacturing goods that rely on these materials.
  Supply Chain Disruptions: The restrictions could lead to delays and uncertainties in procuring rare earths, disrupting production schedules.
  Vulnerability in Key Sectors: Industries like defense and technology, heavily reliant on rare earths, face heightened vulnerability due to potential supply disruptions.
  These challenges underscore the urgent need for the U.S. to reduce its dependence on China for rare earth elements.
  
  While diversification efforts are underway, they will require time and significant investment to yield results.
  
  In the meantime, U.S. businesses must navigate a complex and volatile market landscape, seeking alternative sourcing options and adapting their supply chain strategies to mitigate risks.
  
  The Technology Industry Braces for Impact
  
  The U.S. technology sector is particularly susceptible to the repercussions of China's export restrictions. Companies like Apple, Google, and Samsung rely on a steady supply of rare earths for their products. The restrictions could lead to:
  
  Production Delays: Manufacturers may face difficulties in procuring the necessary rare earth elements, potentially delaying product launches and impacting sales.
  Increased Prices for Consumers: As manufacturers grapple with higher production costs, these costs are likely to be passed on to consumers in the form of higher prices for electronic devices and other goods.
  Slower Adoption of Green Technologies: Rising rare earth prices could hinder the adoption of electric vehicles and renewable energy technologies, which are crucial for combating climate change.
  Companies will need to adapt by diversifying their sourcing, potentially redesigning products to reduce reliance on rare earths, and absorbing some of the increased costs to remain competitive.
  
  This situation also emphasizes the need for long-term strategies to secure reliable and sustainable access to critical materials.
  
  Rethinking Supply Chains
  
  The current situation underscores the risks associated with relying on a single source for critical materials. Businesses may need to reconsider their "just-in-time" supply chain strategies and explore alternatives, such as:
  
  Diversification of Suppliers: Seeking out rare earth suppliers in countries like Australia, which have significant reserves.
  Strategic Stockpiling: Building up reserves of rare earths to mitigate the impact of future supply disruptions.
  Developing Substitutes: Investing in research and development to find alternative materials that can replace rare earths in certain applications.
  These strategies require a shift in mindset, moving away from purely cost-driven supply chain models towards a more holistic approach that prioritizes security and resilience.
  
  While this transition may involve higher costs in the short term, it is essential for ensuring long-term business continuity and mitigating the impact of geopolitical uncertainties.
  
  Geopolitical Implications
  
  China's export restrictions have significant geopolitical implications. By controlling the supply of rare earths, China exerts leverage in international trade and can influence global economic activity. This situation highlights the need for countries to reduce their dependence on China and secure their own supply chains for critical materials.
  
  The Path Forward
  
  While the U.S. is making efforts to boost domestic rare earth production, building a self-sufficient supply chain will take time. In the near term, U.S. businesses must navigate a challenging market environment marked by higher prices and potential supply disruptions.
  
  The long-term solution lies in a multi-pronged approach, including:
  
  Investing in domestic production and processing of rare earths.
  Strengthening international partnerships to diversify supply sources.
  Promoting innovation and the development of alternative materials.
  The rare earths market is likely to remain volatile in the coming months as the impact of China's export restrictions continues to unfold. Businesses and governments must adapt to this new reality and work together to ensure a stable and secure supply of these critical materials.
  
  10 Mining Companies to Keep an Eye On As This Race Heats Up
  
  MP Materials (NYSE:MP) is the leading rare earth materials producer in the Western Hemisphere. Their Mountain Pass mine in California is the only rare earth mining and processing site of scale in the U.S., giving them a strategic advantage. They primarily produce neodymium and praseodymium (NdPr), essential components in high-strength magnets used in electric vehicles (EVs), wind turbines, and electronics. MP Materials benefits from growing demand for EVs and renewable energy technologies, as well as government initiatives to secure domestic supply chains for critical minerals. They have also announced plans to build a facility to manufacture rare earth magnets in the U.S., further strengthening their position in the market.
  
  MP Materials currently ships the concentrated NdPr to China for final processing, as the U.S. lacks the capacity for this stage. This reliance on China for a crucial step in the supply chain exposes them to potential geopolitical risks and trade tensions. To address this, MP Materials is actively working to establish domestic refining and magnet manufacturing capabilities. Their success in doing so will be crucial for securing a truly independent and resilient U.S. rare earth supply chain.
  
  While primarily known for uranium production, Energy Fuels (NYSE:UUUU) is strategically diversifying into rare earths. They are leveraging their existing infrastructure and expertise to process monazite sands, a byproduct of their uranium operations, which contain valuable rare earth elements. This move allows them to tap into a growing market while minimizing capital expenditures. Energy Fuels' White Mesa Mill in Utah is the only conventional uranium mill in the U.S. licensed to also process rare earth elements, giving them a unique position in the market. They are focused on producing separated rare earth oxides, which are in high demand for various applications.
  
  Energy Fuels' success in the rare earth space will depend on their ability to compete with established Chinese producers and secure long-term contracts with end-users. Additionally, the profitability of their rare earth operations will be linked to the prevailing market prices for these elements, which can be volatile. While their diversification strategy holds promise, investors should be aware of the challenges and uncertainties associated with this emerging business segment.
  
  NioCorp Developments (NASDAQ:NB) is developing the Elk Creek project in Nebraska, one of the highest-grade niobium deposits in the world. Niobium is a critical material used in high-strength steel alloys, aerospace applications, and superconducting magnets. The Elk Creek project also has significant potential for scandium and titanium production, both valuable metals with growing applications in aerospace, defense, and high-tech industries. While rare earths are not their primary focus, the Elk Creek deposit contains rare earth elements that could be recovered as byproducts, adding further value to the project. NioCorp aims to be a significant domestic supplier of critical minerals, reducing U.S. reliance on imports.
  
  NioCorp is actively seeking funding and strategic partnerships to advance the project. They face competition from established producers of niobium, scandium, and titanium, primarily located outside the U.S. The successful execution of the Elk Creek project and securing offtake agreements with end-users will be crucial for NioCorp to achieve its goals and become a key player in the critical minerals market.
  
  Arcadium Lithium (NYSE:ALTM) is a leading global lithium producer formed through the merger of Livent and Allkem in August 2024. Formerly known as Livent, the company specializes in producing lithium compounds used in batteries, polymers, and other industrial applications. Arcadium has a diversified global footprint with production facilities in the U.S., Argentina, and China. They are a leading supplier of lithium hydroxide, a key component in high-performance EV batteries. Arcadium has long-term supply agreements with major automotive manufacturers, ensuring stable demand for their products. They are also investing in research and development to improve lithium extraction technologies and expand their production capacity to meet the growing demand for lithium-ion batteries.
  
  Arcadium is well-positioned to benefit from the continued growth in the lithium market, driven by the increasing demand for electric vehicles and other battery-powered applications. They have a strong track record of innovation and are well-equipped to meet the evolving needs of their customers. However, it's important to note that the lithium market is highly competitive, with several other major players vying for market share. Arcadium will need to continue investing in its operations and expanding its production capacity to maintain its competitive advantage. Additionally, fluctuations in lithium prices can impact the company's profitability. Investors should carefully monitor these factors when considering investing in Arcadium Lithium.
  
  Sigma Lithium Corporation (NASDAQ:SGML) is focused on developing and producing lithium in Brazil. Their Grota do Cirilo project is expected to be a low-cost, environmentally sustainable source of battery-grade lithium. The project is fully licensed and construction is well underway, with production expected to commence soon. Sigma Lithium has secured offtake agreements with major battery manufacturers, ensuring a market for their lithium concentrate. They are committed to responsible mining practices and aim to minimize their environmental impact. Sigma Lithium is well-positioned to benefit from the growing demand for lithium for electric vehicles and other battery applications.
  
  In fact, Sigma Lithium recently announced that they have already begun shipping lithium concentrate from Grota do Cirilo, making them one of the newest lithium producers in the market. They are aiming to produce high-purity lithium concentrate, which is in high demand for EV battery production. As a relatively new entrant, Sigma Lithium's success will depend on their ability to ramp up production, maintain operational efficiency, and navigate the competitive landscape of the global lithium market.
  
  Freeport-McMoRan (NYSE:FCX) is a leading international mining company, primarily focused on copper production. However, their Grasberg mine in Indonesia is also a significant source of cobalt, a byproduct of their copper mining operations. Cobalt is a crucial component in lithium-ion batteries, particularly those used in EVs. As the demand for EVs continues to grow, Freeport's cobalt production becomes increasingly valuable. They are committed to responsible mining practices and are working to reduce their environmental footprint. Freeport's diversified operations and significant cobalt production provide exposure to the growing EV battery market.
  
  However, it's important to consider that the Grasberg mine is located in a politically sensitive region, and operational challenges or regulatory changes in Indonesia could impact Freeport's cobalt production. Furthermore, the price of cobalt can be volatile, subject to supply and demand dynamics in the battery market. While Freeport benefits from its cobalt byproduct, investors should be aware of these potential risks when evaluating the company. Additionally, ethical sourcing of cobalt is a growing concern, and Freeport's commitment to responsible mining practices in Indonesia is crucial for maintaining its reputation and market access.
  
  Alcoa Corporation (NYSE:AA) is a global leader in bauxite, alumina, and aluminum production. While primarily known for aluminum, Alcoa is exploring the potential of extracting rare earth elements, particularly scandium, from bauxite residues. Bauxite residue is a byproduct of alumina refining and contains significant amounts of scandium, a valuable metal used in fuel cells, high-intensity lighting, and aerospace applications. Alcoa's research and development efforts in this area could unlock a new source of revenue and contribute to a more sustainable aluminum industry by utilizing waste materials.
  
  This initiative aligns with the growing focus on environmental, social, and governance (ESG) factors in the mining industry. By extracting valuable materials from its waste streams, Alcoa can reduce its environmental impact and potentially generate new revenue streams. However, the economic viability of scandium extraction from bauxite residues depends on developing efficient and cost-effective technologies. Furthermore, the market for scandium is relatively small compared to other metals, so Alcoa will need to secure buyers for its scandium production. If successful, this venture could position Alcoa as a key player in the emerging scandium market while also enhancing its sustainability profile.
  
  Piedmont Lithium Inc. (NASDAQ:PLL) is developing lithium projects in North Carolina, aiming to be a major supplier to the U.S. battery supply chain. Their integrated project will include mining, concentrating, and refining lithium hydroxide, providing a domestic source of this critical battery material. Piedmont Lithium has secured offtake agreements with major EV manufacturers, ensuring a market for their lithium hydroxide. They are committed to sustainable development and aim to minimize their environmental impact. Piedmont Lithium is well-positioned to capitalize on the growing demand for lithium-ion batteries in the U.S.
  
  However, Piedmont Lithium faces challenges related to permitting and community acceptance for its proposed mine in North Carolina. Obtaining the necessary permits and addressing concerns from local residents regarding environmental impact and water usage will be crucial for the project's success. Additionally, Piedmont Lithium relies on a unique technology to process its lithium ore, and the successful commercialization of this technology is key to achieving its production goals. Despite these challenges, Piedmont Lithium's focus on domestic production and its strategic partnerships with major EV manufacturers make it a company to watch in the U.S. lithium market.
  
  Standard Lithium Ltd. (NYSE:SLI) is focused on developing lithium extraction technologies and projects in Arkansas. They are using a direct lithium extraction (DLE) process to extract lithium from brine resources, which is more efficient and environmentally friendly than traditional methods. Standard Lithium has partnered with Lanxess, a German specialty chemicals company, to develop and commercialize their DLE technology. They are aiming to produce battery-quality lithium hydroxide, a key component in EV batteries. Standard Lithium's innovative technology and focus on domestic production make them a promising player in the lithium market.
  
  However, it's important to note that Standard Lithium is still in the development stage, and their projects have yet to reach commercial production. This carries inherent risks, as technological challenges or delays could impact their progress. Additionally, the company's DLE technology, while promising, needs to prove its commercial viability at scale. Investors should carefully consider these factors when evaluating Standard Lithium's potential.
  
  Lithium Americas (NYSE:LAC) is a leading lithium development company with two major projects: Thacker Pass in Nevada, USA, and Caucharí-Olaroz in Argentina. Thacker Pass is one of the largest known lithium resources in the U.S. and has the potential to be a major domestic source of lithium for EV batteries. Caucharí-Olaroz is a joint venture with Ganfeng Lithium and is already in production, generating revenue for Lithium Americas. The company is undergoing a separation into two independent entities, allowing each project to focus on its specific development and operational needs. Lithium Americas is well-positioned to benefit from the increasing demand for lithium in the electric vehicle and battery storage markets.
  
  Furthermore, Lithium Americas has attracted investment from General Motors, which is providing $650 million to help develop Thacker Pass.
  
  This strategic partnership highlights the growing importance of securing domestic lithium supplies for the U.S. automotive industry. This also de-risks the Thacker Pass project significantly, as it provides capital and a guaranteed buyer for a portion of the lithium produced. With strong partnerships and a diversified project portfolio, Lithium Americas is poised for growth in the evolving lithium market.
  
  Source: Oilprice.com
- 2024-10-14
  Tripling Renewable Energy Capacity by 2030 Will Require $1.5 Trillion Per Year
  The world’s progress to reach the goal of tripling renewables capacity by 2030 is falling short and needs another tripling, of investments, from $570 billion in 2023 to $1.5 trillion every year between 2024 and 2030, the International Renewable Energy... Read more The world’s progress to reach the goal of tripling renewables capacity by 2030 is falling short and needs another tripling, of investments, from $570 billion in 2023 to $1.5 trillion every year between 2024 and 2030, the International Renewable Energy Agency (IRENA) said in a new report on Friday.
  
  Despite the significant acceleration of renewable capacity installations, the current pace of growth and progress is still falling short of targets, IRENA said.
  
  According to the current plans and targets of individual countries, the goals set would only deliver half of the required growth in renewable power by 2030, the agency noted.
  
  Countries are expected to submit their new updated plans, the so-called Nationally Determined Contributions (NDCs), by February 2025. Some plan to unveil their updated targets as soon as next month, at the COP29 climate summit in Azerbaijan.
  
  The trillion-dollar-plus annual investment would be needed to further accelerate renewables rollout, IRENA said in its report.
  
  To meet the global goal of tripling renewables capacity by 2030, installed capacity would have to grow from 3.9 terawatt (TW) today to 11.2 TW by the end of the decade. This requires the installation of an additional 7.3 TW in less than six years, IRENA says.
  
  However, current national plans are projected to leave a global collective gap of 3.8 TW by 2030, falling short of the goal by 34%, according to the agency.
  
  “The next NDCs must mark a turning point and bring the world back on track,” IRENA’s Director-General Francesco La Camera said in a statement.
  
  Earlier this week, the International Energy Agency (IEA) also warned that despite the surge in renewable energy additions, the world is not yet on track to reach the goal of tripling renewable energy capacity by 2030.
  
  Global renewable capacity is expected to grow by 2.7 times by 2030, surpassing countries’ current ambitions by nearly 25%. But it still falls short of tripling, the IEA said in its Renewables 2024 report this week.
  
  Source: Oilprice.com
- 2024-10-14
  Iran's Oil Exports: On a Slow Boat to Nowhere
  Iran's crude oil exports have dramatically slowed in October as the country braces for possible retaliation following its October 1 missile attack on Israel. With Israeli strikes on Iranian oil facilities a topic of discussion, Iran's exports dropped... Read more Iran's crude oil exports have dramatically slowed in October as the country braces for possible retaliation following its October 1 missile attack on Israel. With Israeli strikes on Iranian oil facilities a topic of discussion, Iran's exports dropped to around 600,000 barrels per day in the first 10 days of the month—about a third of recent months' volumes.
  
  Typically, 5-8 tankers would load during this period, but this month only 3-4 vessels were loaded, according to Vortexa oil risk analyst Armen Azizian. Iran has moved several empty tankers from Kharg Island as a precaution, satellite images and tanker tracking company TankerTrackers have shown, further stalling exports.
  
  "The first 10 days has been very slow compared to what we usually see," Azizian said, as cited by Argus. "Normally, over this period, we see an average of 5-8 tankers load ? a mix of VLCCs and Suezmaxes. But so far, we have only seen just 3-4 load."
  
  Despite strong export levels in recent months, with a peak of 1.83 million barrels per day in September, October's figures are expected to fall far short. Even if normal loadings resume, Iran is unlikely to exceed 1.35 million barrels per day by the end of the month.
  
  This decrease highlights the vulnerability of oil exports during geopolitical tensions.
  
  Most analysts agree that OPEC producers with spare capacity—namely the UAE and Saudi Arabia—would be able to make up for any deficit left in the oil markets by Iran's export disruption.
  
  Meanwhile, Iran has made offers to China—one of Iran's only crude oil outlets post sanctions—to sell its crude for an even narrower discount to Brent, increasing its price by as much as $1 more per barrel. Source: Oilprice.com
- 2024-10-14
  Biggest Russian Refinery Raises Crude Oil Processing by 4%
  Russia’s biggest crude processing facility by production, the Omsk refinery, increased its crude processing by 4% between January and September compared to the same period last year, according to the refinery owner Gazprom. The Omsk refinery is located... Read more Russia’s biggest crude processing facility by production, the Omsk refinery, increased its crude processing by 4% between January and September compared to the same period last year, according to the refinery owner Gazprom.
  
  The Omsk refinery is located 2,700 kilometers (1,700 miles) east of Moscow and is owned by Gazprom’s oil unit Gazprom Neft.
  
  The facility raised its supply of gasoline to the domestic market by 5% and increased diesel supply by 10%, according to a statement from the refinery cited by Reuters.
  
  Last year, the Omsk refinery accounted for nearly 8% of all crude oil refining in Russia, as it processed about 425,600 barrels per day (bpd) of oil.
  
  While the Omsk refinery reports increased volumes, many other facilities in Russia, especially those in the southwest, have seen extensive maintenance and halts due to attacks from Ukrainian drones this year.
  
  Scheduled maintenance is also boosting the idle refining capacity this month.
  
  Russia has raised the refining capacity volumes it expects to be idle this month by 67% compared to an earlier plan, due to scheduled maintenance at major refineries, Reuters estimates showed earlier this week.
  
  Previously postponed maintenance at Rosneft’s Novokuibyshevsk Refinery in southwestern Russia and maintenance at a unit of Lukoil’s NORSI refinery have now increased the capacity that would be offline in October.
  
  In addition, Rosneft’s refinery in Tuapse on the Black Sea has reportedly halted crude processing since October 1 because of low refining margins, industry sources told Reuters earlier this week.
  
  Apart from some seasonal maintenance, Russia’s crude oil refining capacity has seen this year more idle units because of Ukrainian drone attacks on Russian oil and energy infrastructure.
  
  Ukrainian attacks on Russian oil refineries and other energy infrastructure have become a fixture this year, with drones the weapon of choice for conducting the strikes. Source: Oilprice.com
- 2024-10-14
  Japan Considers Quadrupling LNG Buying for Emergencies
  Japan is discussing quadrupling LNG purchases for its emergency reserves as part of a plan to boost energy security, a senior official at Japan’s industry ministry has told Reuters. “From the mid- to late-2020s, we will try to secure at least one cargo... Read more Japan is discussing quadrupling LNG purchases for its emergency reserves as part of a plan to boost energy security, a senior official at Japan’s industry ministry has told Reuters.
  
  “From the mid- to late-2020s, we will try to secure at least one cargo per month throughout a year - that is, at least 12 cargoes per year,” Yuya Hasegawa, director of the energy resources development division at the Ministry of Economy, Trade and Industry (METI), told Reuters.
  
  Currently, Japan buys on average three cargoes of LNG per year for its emergency needs.
  
  During periods of weaker domestic LNG demand, Japan is reselling at times some of the emergency LNG cargoes.
  
  If the plan to boost emergency purchases is adopted, Japan – the world’s second-largest LNG importer after China – would become a more active buyer in the LNG market.
  
  Natural gas currently accounts for around a third of Japan’s power generation mix.
  
  The country aims to continue restarting nuclear power plants and boost renewables capacity, the new industry minister said last week, signaling that the new government will not alter materially the country’s current energy policy.
  
  “We can use renewable power to the maximum, and we will restart nuclear power, the safe one, as much as possible,” said Industry Minister Yoji Muto, who was appointed by the new Prime Minister Shigeru Ishiba.
  
  Currently, Japan is bringing back nuclear power as a key energy source, looking to protect its energy security in the wake of the energy crisis that led to surging fossil fuel prices.
  
  The resource-poor country which needs to import about 90% of its energy requirements, made a U-turn in its nuclear energy policy at the end of 2022, as its energy import bill soared amid the energy crisis and surging costs to import LNG at record-high prices.
  
  At present, fossil fuels account for about 70% of Japan’s electricity, which would clash with its net-zero goal.
  
  Source: Oilprice.com
- 2024-10-14
  Indian State Refiner Looks to Raise $3.3 Billion for New Refinery
  Indian state-owned refiner Chennai Petroleum Corporation Limited is holding discussions with banks to obtain a loan of $3.33 billion (280 billion Indian rupees) that would help it build a refinery in southern India, sources with knowledge of the plans... Read more Indian state-owned refiner Chennai Petroleum Corporation Limited is holding discussions with banks to obtain a loan of $3.33 billion (280 billion Indian rupees) that would help it build a refinery in southern India, sources with knowledge of the plans told Bloomberg.
  
  Chennai Petroleum – whose 52% majority shareholder is India’s biggest refiner, state-held Indian Oil Corporation – has proposed to build a refinery worth a total of $3.9 billion (330 billion rupees) in the state of Tamil Nadu in the south.
  
  National Iranian Oil Company (NIOC) is also a shareholder in Chennai Petroleum with 15.4%, but it will not participate in the refinery construction. The new crude processing facility will be 75% owned by Indian Oil, while Chennai Petroleum will hold the other 15% in the proposed new complex called the Cauvery Basin refinery project.
  
  State Bank of India is expected to lead the loan syndicate for the new refinery, according to Bloomberg’s sources.
  
  Indian refiners are looking to expand their refining capacity to meet growing domestic demand for fuels amid higher-than-average economic growth and rising middle-class numbers.
  
  Another state refiner, Bharat Petroleum Corporation Ltd (BPCL), is also reportedly in talks with major local banks to secure a loan of about $3.8 billion which it will use to expand the capacity of one of its refineries.
  
  Separately, state-held Oil and Natural Gas Corporation (ONGC), the biggest oil and gas explorer in India, is assessing plans for an $8.3-billion refinery plus petrochemicals project in the most populous Indian state, Uttar Pradesh, to take advantage of growing fuel demand.
  
  India will drive up to 35% of global energy demand growth over the next 20 years, petroleum minister Hardeep Puri said at the Gastech conference in Houston last month.
  
  “If you say that global demand is increasing by one percent, ours is increasing by three times that,” Puri said. “In the next two decades, 35% of the increase in global demand will come from India.” Source: Oilprice.com
- 2024-10-11
  Geopolitical Risk and Hurricane Milton Push Oil Prices Toward a Weekly Gain
  Crude oil prices have been on a retreat towards the end of the week but still look set to book another weekly gain, supported by the situation in the Middle East and worry about the security of supply. In a fresh update, Reuters reported that Gulf... Read more Crude oil prices have been on a retreat towards the end of the week but still look set to book another weekly gain, supported by the situation in the Middle East and worry about the security of supply.
  
  In a fresh update, Reuters reported that Gulf states were lobbying with Washington to convince Israel not to target Iranian oil sites on fears that this would prompt retaliatory attacks by Iran-affiliated groups on those Gulf states’ own oil infrastructure.
  
  “The Iranians have stated: 'If the Gulf states open up their airspace to Israel, that would be an act of war',” a Saudi analyst close to the kingdom’s ruling family told Reuters.
  
  “The Gulf states aren't letting Israel use their airspace. They won't allow Israeli missiles to pass through, and there's also a hope that they won't strike the oil facilities,” an unnamed source from the Gulf said. The oil kingdoms had made it clear earlier that they would not be taking a side in that war.
  
  The possibility of such a development has clear bullish implications for the price of oil in the case of an oil-focused escalation, especially in light of Israel’s apparent decision not to consult the U.S. on everything it does on the battlefield and outside it.
  
  Hurricane Milton also helped push oil prices higher this week after it made landfall in Florida, although it did not wreak the devastation expected from a Category 5 hurricane as it lost a lot of its destructive power before landfall.
  
  “Investors are evaluating how hurricane damage might impact the U.S. economy and fuel demand,” NS Trading president Hiroyuki Kikukawa told Reuters. “Oil prices are likely to hover around the current 200-day average levels, with the primary concern being whether Israel will retaliate against Iranian oil facilities.”
  
  Benchmarks added some 3% on Thursday as Israel’s government met to discuss its retaliatory move against Iran. Earlier on Friday, Brent crude was hovering around $80, with West Texas Intermediate above $75 per barrel.
  
  Source: Oilprice.com