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Energy & Commodities

Iran cuts oil exports to Europe

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Posted by News 24

on Wednesday, 15 February 2012 09:27

Screen shot 2012-02-15 at 8.30.24 AM

The move comes days after Iran's Oil Minister Rostam Qassemi said Tehran could cut off oil exports to "hostile" European nations as tensions rose over suggestions that military strikes are an increasing possibility if sanctions fail to rein in the Islamic Republic's nuclear ambitions.

Iran argues that the EU oil embargo will not cripple its economy, claiming that the country already has identified new customers to replace the loss in European sales that account for about 18% of Iran's exports. 

Members of Iran's parliament have been discussing a draft bill, although not finalised, which would cut off the flow to the European Union before the latest EU sanctions on Iran go into effect this summer.

Iran has said it is forced to manufacture nuclear fuel rods, which provide fuel for reactors, on its own since international sanctions ban it from buying them on foreign markets. In January, Iran said it had produced its first such fuel rod.

Iran's unchecked pursuit of the nuclear programme scuttled negotiations a year ago but Iranian officials last month proposed a return to the talks with the five permanent UN Security Council members plus Germany.

 

TSX flat amid rising commodities, Greek assurances that it can get bailout



Energy & Commodities

Oil Patch & The Multi-Billion Dollar Water Services Industry

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Posted by Keith Schaefer - Oil & Gas Investments Bulletin

on Tuesday, 14 February 2012 01:48

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There is a multi-billion dollar water industry forming before investors’ eyes in the oil patch.

It’s a huge opportunity for some great capital gains — but changing regulations, and a very attentive mainstream audience questioning business practises which have been in effect for decades, will will make it choppy water for investors.

“In 2008 there were 25 billion barrels of water handled (by the oil and gas industry) in the US—even at 60 cents a barrel it’s a multibillion dollar business,” says Jonathan Hoopes, President of GreenHunter Energy Inc. (GRH-AMEX). “With the big growth in unconventional since then, it’s likely another 5-6 billion barrels.”

 

.....read more HERE



Energy & Commodities

China's Oil Imports From Iran Reduced Again

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Posted by Mike "Mish" Shedlock: Global Economic Analysis

on Thursday, 09 February 2012 12:37

oil-barrels

 

China has stepped up the pressure on Iran in the face of Europe's oil embargo. China will reduce its crude oil imports from Iran for a third month, sources said today, as the two remain divided over payment and price terms, although they plan to meet again for talks as early as this week.

 

China is the top buyer of Iranian oil and also the fastest expanding major oil importer, putting it in a strong position to negotiate for better terms after it more than halved imports for both January and February.

The reductions for March-loading supplies will be largely the same, if not deeper, than the previous two months, industry officials with direct knowledge of the supply situation told Reuters.

 

China, which buys around 20 percent of Iran's total crude exports, cut its January and February purchases by about 285,000 bpd, just over one half of the total average daily amount it imported in 2011.

 


Spotlight China: Electricity Consumption Drops Sharply; Central Bank Vows Housing Support; Asia Real-Estate Bull Turns Bearish HERE

 



Energy & Commodities

Potash's Current Calm Promises an Exciting Future

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Posted by Brian Sylvester of The Energy Report

on Friday, 03 February 2012 06:57

potash1

Last year marked the third-largest growth in the potash industry, but hesitancy from India and China may put things on hold in 2012. However, MGI Securities Analyst Corey Dias still expects to see a lot of positive news coming out of the junior potash space. In an exclusive interview with The Energy Report, Dias specifies which companies he'll be following for progress.

COMPANIES MENTIONED: AGRIUM INC. -ALLANA POTASH CORP. - KARNALYTE RESOURCES INC. - PASSPORT POTASH INC. - POTASH CORP. - RIO TINTO - RIO VERDE MINERALS DEVELOPMENT CORP. - THE MOSAIC COMPANY -VERDE POTASH

The Energy Report: Total potash demand in 2011 was estimated at 56 million tons (Mt), and the market has traditionally grown at a rate of about 3.5%/year. Do you believe we'll see a similar increase in 2012?


Corey Dias: I think 3.5% could be at the high end of growth for 2012. I would expect slightly lower growth this year given that India is delaying its potash purchases until the end of Q112. China is also determining its exact needs, and there are rumors that it may reduce its imports this year versus 2011. Everything tends to depend on price. Canpotex (the marketing company for Saskatchewan potash producers) and its Belarusian counterpart are holding out for higher prices than India and the China currently seems willing to pay. With those delays, demand will probably be slightly below the historical 3.5% growth rate.



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Energy & Commodities

Copper Continues to Confound the Commodities Crowd

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Posted by Mickey Fulp - Resource Investor

on Thursday, 02 February 2012 06:11

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Loyal subscribers know I often opine that world markets are in the midst of a secular bull market for commodities, or “stuff”, as my recently passed friend Clyde Harrison was so fond of saying. Despite his traitorous penchant for Coors Light (instead of the classic St. Louis-brewed lagers), Clyde was one of those fellow Missourians who always had to be shown, and we all miss his wry wit, sense of humor, and insight into the speculative commodities markets. 

 

You may also be aware of my many writings and interviews on the supply-demand fundamentals of copper, the metal with a “Ph.D. in Economics”. Copper is the one commodity that most directly reflects the near- and mid-term health of the world’s economy.

 

The modern copper industry started in the early 1900s with advent of large, mechanized open pit mines that could mine lower grades thru economies of scale. Development of these mines was coincident with the demand for and delivery of electricity to the industrialized world. Copper cable and wire is necessary for efficient transmission of electrical power and remains the main use of the metal.



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