Russia and CIS Oil & Gas Quarterly Review
The review was prepared by specialists from the B1 Moscow Energy Center.
ENERGODIGEST
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China spreads its wings over cobalt
The global cobalt market is going through change as more supplies flow into it from top-producing countries, primarily the Democratic Republic of the Congo (DRC), which accounts for 68% of the world’s cobalt ore output.
21.12.2023
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Coal holds its ground
One of the key issues brought to the table at the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) in Dubai is the transition away from fossil fuels in energy systems, including by ‘accelerating efforts towards the phase-down of unabated coal power.’
14.12.2023
Green hopes for the platinum industry
Gold prices climbed to a six-month high of $2,000 per troy ounce at the end of November, propped up by a softer dollar. Market players are waiting for updated figures on the state of the US economy and for the Fed’s reaction to see whether the price will hold at this peak.
01.12.2023
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Copper in a fragile balance
Copper prices continue on the down path, having tumbled to an average of $8,560 per tonne since the beginning of this year, a marked fall from $8,790 in 2022 and $9,300 a year earlier.
27.10.2023
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Nickel caught in a bear hug
London Metal Exchange (LME) warehouse nickel stocks have been shrinking since the end of last year as monthly averages plummeted from 66,600 tonnes in 2022 to 41,700 tonnes in the first nine months of 2023, having bottomed out at 37,000 this August.
21.09.2023
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How strong is China’s iron grip?
In September, iron futures traded at $119.5 per tonne on the Singapore exchange, the highest level since late April, having gained 2% YTD and never falling below the psychological threshold of $100 per tonne.
14.09.2023
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The specter of labor unrest haunts the LNG market
Over recent weeks, the world has been watching as Woodside Energy Group and Chevron became embroiled in a labor standoff with workers at their LNG plants in Australia. The news that these facilities could temporarily go offline has triggered an immediate reaction from the market, with spot LNG prices in Asia climbing to a five-month high of $14 per million BTU.
08.09.2023
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A bad spell for European steel
The Eurozone Manufacturing PMI marked a sixth consecutive decrease in July, having plunged to a 38-month low of 42.7, plagued by an accelerated decline in production volumes and new orders. These negative trends have a bearing on the steel sector as well.
03.08.2023
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Is the EU Energy Platform here to stay?
Now that the second round of joint gas purchases on the EU Energy Platform has come to an end, the bloc wants to make this mechanism a permanent feature. So it’s about time we explore how well it works.
28.07.2023
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Where will the copper scales tip?
Global refined copper output in January-April 2023 soared 8% YoY to nearly 9 million tonnes, while consumption rose only 3% to 8.6 million tonnes, leading to a 384,000-tonne surplus, compared with a 43,000-tonne deficit in the same period last year. As a result, the price of copper started to go down. Will this trend persist and what will happen to prices in the longer term?
19.07.2023