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Nigeria's Richest Man Confronts ‘Oil Mafia’ With New $20B Refinery
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Two months ago, Nigeria’s beleaguered energy sector witnessed a very significant event: the Dangote Oil Refinery began producing gasoline and selling it domestically to Nigeria's state oil firm, Nigerian National Petroleum Company (NNPC), marking the first time in decades Africa’s largest oil producer is refining its own crude. The state-of-the-art $20 billion refinery was launched in January 2024, but only began producing gasoline in September, expected to reach full operations in November. The giant refinery has a capacity to process…
Why Big Oil Is Scaling Back Renewables Investment
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Europe’s biggest oil and gas companies have changed their approach to energy supply twice over the past five years. First came the ambitions to become major players in the renewables sector and goals to reduce oil and gas production by the end of the decade. That was in 2019 and early 2020 when Big Oil firms were racing to announce major shifts in strategy toward conventional and green energy. This strategy held for about two years until the energy market shocks from the Russian invasion of Ukraine and the financial shocks of soaring inflation…
Winter’s Chill Exposes Cracks in U.S. Gas Market
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Winter is near, and so is peak natural gas demand in the northern hemisphere. For the world’s largest natural gas producer, this could mean greater price volatility and potential supply tightness. The predictions come from Wood Mackenzie, which listed in a recent article a total of five factors affecting the natural gas market in the United States this winter. Control of supply is at the top of the list as natural gas producers respond to persistently low market prices for their commodity. Natural gas prices have been depressed for over a…
How District Heating Can Transform Urban Energy Landscapes
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As governments worldwide invest heavily in a green transition, both the public and private sectors are exploring alternative options for heating that do not rely on fossil fuels. According to the International Energy Agency (IEA), the operations of buildings account for 30 percent of global final energy consumption and 26 percent of global energy-related emissions. Therefore, reducing the dependence on fossil fuels for heating and power in residential and commercial buildings will significantly support decarbonisation efforts. One method being…
US Crude Inventories Build as Fuel Stocks Continue to Decline
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Crude oil inventories in the United rose by 4.753 million barrels for the week ending November 8, according to The American Petroleum Institute (API). Analysts had expected a much smaller build of 800,000 barrels. For the week prior, the API reported a 777,000 barrel draw in crude inventories. So far this year, crude oil inventories have risen by less than 1 million barrels since the beginning of the year, according to API data. On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR)…
Trump Administration to Fast-Track Self-Driving Car Regulations
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Elon Musk's super PAC spent around $200 million to secure a Trump-Vance victory in the US presidential election. Musk's influence with top Trump officials to push for a more efficient government, fewer regulations, and greater adoption of technology could be positioning the billionaire's companies—from electric vehicles to space exploration and social media—for an era of super growth. Bloomberg reports Trump officials told advisors they're planning to construct a federal framework for fully self-driving vehicles as one of the Transportation…
Is a Global Aluminum Shortage on the Horizon?
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Via Metal Miner The Aluminum Monthly Metals Index (MMI) steadied, with a 1.38% rise from October to November. Aluminum prices moved sideways during October. While they only managed a 0.99% rise, aluminum still managed to outperform other base metals during the month. However, prices started to slip by mid-November as they echoed the increasingly bearish trend emerging in markets like copper, nickel, zinc and tin. China to End Export Rebates for Aluminum and Copper Effective December 1, China will end export rebates for aluminum and copper products.…
Drill Baby Drill Returns as G20 Drops Fossil Fuel Phase-Out from Final Draft
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The G20 just fumbled the fossil fuel debate. Or did it? Rio’s final G20 statement dropped any explicit call to phase out oil, gas, and coal. Instead, it offered vague applause for the UAE Consensus from COP28. This wasn’t an oversight. It was a decision. At COP28, 200 countries agreed to phase out fossil fuels by 2050. The G7 doubled down earlier this year. COP29 in Baku was supposed to build on this. Then Rio happened. Now, G20 leaders are dodging the hard part. No one should be shocked. The idea that “inexperienced aides”…
Russia's New Nuclear Policy Raises Stakes in Ukraine Conflict
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President Vladimir Putin signed a decree on November 19 updating and expanding Moscow's nuclear doctrine to allow for the use of atomic weapons in case of an attack on Russia by a nonnuclear actor that is backed by a nuclear power. The move comes just days after President Joe Biden reportedly gave Ukraine permission to use U.S.-supplied long-range Army Tactical Missile Systems, or ATACMS, to strike deep inside Russia. ATACMS have a range of some 300 kilometers. The updated doctrine says Russia would consider using nuclear weapons after receiving…
Natural Gas Prices in U.S. Northwest and Western Canada At Record Lows
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The prices of natural gas at the key regional hubs in the U.S. Pacific Northwest and Western Canada have hit this year the lowest level on record, amid rising production in the Western Canadian Sedimentary Basin (WCSB) and high inventory levels in these regions. Monthly average natural gas spot prices at the northwestern U.S. and western Canada border pricing hubs reached historic lows in the first ten months of 2024, the U.S. Energy Information Administration (EIA) said on Tuesday, citing data from Natural Gas Intelligence. The Western Canada…
Why the Utility Industry’s Conventional Strategy Could Backfire
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The investor-owned electric utilities (represented by the Edison Electric Institute) have announced record-breaking capital spending plans. Finally a recognition of the nation’s growing electricity needs and the industry’s slow recognition of them? Sorry, not really, unfortunately. The EEI said its members would spend $186 billion in 2024 and a bit more in 2025. Adjusting the numbers to remove natural gas spending and add in spending by non-utilities and government-owned utilities brings the number up to around $235 billion. Another…
Oil Prices Level Out Amid Production Outages and Russia/Ukraine Escalations
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Oil prices continued their volatile mid-morning on Tuesday, with Brent trading just above $73 per barrel—down $0.12 from yesterday’s close but up substantially from weekend levels. WTI was trading down $0.14 per barrel on the day at just above $69. Both benchmarks fell earlier in the day before rebounding slightly amid escalating tensions between Russia and Ukraine and a production outage at Johan Sverdrup. On Monday, the war premium had returned to the oil markets after the Biden Administration handed Ukraine the green light to use…
Escalation in Ukraine War Brings Back Geopolitical Risk in Oil
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The sudden escalation of the Russia-Ukraine war with the United States, UK and France allowing Ukraine to use long-range missiles to strike Russian territory and the subsequent change in Russia’s nuclear doctrine have brought the long-forgotten European geopolitical risk back, lifting ICE Brent slightly to $73 per barrel. - US crude futures have flipped to contango for the first time since February, signaling oversupply into a market that is increasingly worried about the impacts of potential Trump tariff wars and slower Chinese demand growth.…
TC Energy Sees Natural Gas Demand Boosting Core Profit in 2025
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TC Energy Corporation expects to book a higher core profit in 2025 compared to 2024 amid increased demand for natural gas and electricity in North America, the Canada-based pipeline operator said on its Investor Day event on Tuesday. TC Energy expects its comparable core earnings – or earnings before interest, tax, depreciation, and amortization (EBITDA) – to be in the range of US$7.6 billion-US$7.77 billion (C$10.7 billion to C$10.9 billion) in 2025, up from the top end of US$7.2 billion (C$10.1 billion) of the range expected for this…
Albemarle: West Cannot End Reliance On China’s Critical Minerals
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Last month, White House national security adviser Jake Sullivan revealed that the U.S. is working with allies to build a standardized international marketplace for metals and minerals in a bid to make the West less dependent on China. “Critical minerals are another example. That sector is marked by extreme price volatility, widespread corruption, weak labor and environmental protections, and heavy concentration in the PRC, which artificially drops prices to keep competitors out of the marketplace. If we and our partners fail to invest, the…
Moscow Says Ukraine Fired US-Made Long-Range Missile at Russia
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Ukraine fired a long-range missile supplied by the United States into a Russian region early on Tuesday, Russia’s Ministry of Defense said. According to Moscow, Ukraine used the Army Tactical Missile System supplied by the U.S. in a strike on the region of Bryansk in Russia on Tuesday morning local time. This weekend, the U.S. Administration gave Ukraine the green light to use U.S.-manufactured long-range missiles to strike Russian territory. Russia has warned repeatedly that such a move by Washington would constitute a significant escalation…
Saudi Arabia Resists Renewing Fossil Fuel Phase-Out Pledge at COP29
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Saudi Arabia is reportedly "leading a push back" on restating climate commitments to transition away from fossil fuels put into place last year, according to Yahoo Finance. The Yahoo Finance article says that both European and U.S. negotiators aim to reinforce last year's commitments to boost energy efficiency and renewable energy, viewing them as crucial to maintaining progress in the global climate fight. But Saudi Arabia is reportedly using "a mix of delaying tactics and outright blocking maneuvers" to resist these efforts, the report says. …
Russia’s Crude Oil Shipments Slump
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Russian crude oil shipments dipped to a two-month low in the four weeks to November 17, as loadings from Russia’s Western ports slumped, tanker-tracking data monitored by Bloomberg showed on Tuesday. In the four weeks to November 17, Russian crude oil exports by sea dipped to 3.28 million barrels per day (bpd), down by 150,000 bpd compared to the previous four-week average to November 10, according to the data reported by Bloomberg’s Julian Lee. The decline in exports was the biggest since the end of July. The weekly exports in the…
Solar Companies Forced To Borrow To Finance Growth
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Solar companies recorded the highest amount in debt financing in a decade during the first half of 2024, Mercom Capital Group has reported. Solar companies raised $12.2 billion across 50 debt financing deals in the period, marking a 53% increase from the $8 billion raised in 33 deals during the first six months of 2023. According to Raj Prabhu, CEO of Mercom, solar companies are increasingly being forced to borrow to finance growth while investors sit out due to several industry headwinds including high interest rates, a renewed…
The Plot To Further Disrupt Russian Oil Flows Proof That Sanctions Don’t Work
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Ukrainian President Volodymyr Zelensky is set to attend a UK Cabinet meeting to discuss strategies aimed at further disrupting Russian oil sales as the ongoing Russia-Ukraine conflict continues to reverberate through global oil markets. While critics of Western sanctions against Russia have argued against their effectiveness, Zelensky's presence at such a high-level meeting speaks to Ukraine’s push to weaken Russia’s economic foundation, which is heavily reliant on its oil exports. The timing of this initiative is curious. Russia, in…
Goldman Sachs Sees Downside For Copper in The Short Term
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Copper futures in New York are 15% below their May all-time high and have hit a two-week low. Goldman analyst Adam Gillard suggests that a "surplus market" could pressure prices of the base metal lower in the "short term." In recent weeks, copper has been stuck in a narrow range and is down about 15% from the record in May. The surge in prices was driven by global supply fears, a squeeze in the market, and energy transition demand. In May, Jeff Currie, who led commodities research at Goldman Sachs for nearly…
How the U.S. Presidential Election Could Influence Precious Metals Prices
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Via Metal Miner The Global Precious Metals MMI (Monthly Metals Index) held its four-month long sideways trend month-over-month. All in all, the index narrowly missed trading flat, only budging down 0.18%. However, numerous factors continue to pull at precious metals prices in general. Gold, for one, appeared to finally be settling down after reaching record highs earlier in the year. However, by mid July, gold prices began climbing again, meaning Gold prices have yet to peak. With wars in other parts of the globe, inflation still somewhat elevated,…
Kazakhstan, Azerbaijan, and Uzbekistan Forge Green Energy Export Alliance
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Kazakhstan is pressing ahead with Uzbekistan and Azerbaijan to develop electricity export capacity, even as Astana faces challenges in securing the power needed to fuel domestic economic growth. The Kazakh Ministry of Energy has published for public comment a draft agreement on its strategic green-energy partnership with Azerbaijan and Uzbekistan. The agreement would put some flesh on the bones of a memorandum of intent the three countries signed in May. “Emphasizing the importance of green and clean energy in global action to combat climate…
Israeli Strike Sets Yemen's Oil Port Ablaze
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For the first time since the Israel–Hamas war erupted last October, the Israeli military has deployed fighter jets to strike Iran-backed Houthi rebels in Yemen. This action follows an incident where the rebels penetrated Tel Aviv airspace with a kamikaze drone (also for the first time) on Friday, resulting in the death of one civilian. Houthi official Mohammed Abdulsalam posted on social media that a "brutal Israel aggression against Yemen" had just occurred. He noted that the airstrikes hit "fuel storage facilities…
Why China’s Commodity Imports Rise amid Struggling Economy
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So far this year, China has imported growing volumes of most of the key commodities, with the notable exception of crude oil. Chinese purchases of LNG, coal, copper, and iron ore jumped in the first half of the year compared to year-ago levels, despite a continued property crisis and a faltering economy, which disappointed market bulls with growth coming in below expectations in the second quarter. If the Chinese economy is weaker than thought, then why is China importing more of the commodities that are typically viewed as a gauge for the…
Turkey Willing To Boost EU Gas Exports If Bloc Guarantees Demand
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Turkey has said it is prepared to significantly increase natural gas exports to the European Union, desperate to further wean itself off Russian gas, but it won’t be easy or cheap: In order to do that, the most likely route is to re-export Azeri natural gas from Turkey. That, in turn, would require Turkey to take in more Russian gas to make up for the shortfall. In terms of reducing the amount of natural gas revenue for Moscow’s war coffers, then, it’s a wash. Money spent by the EU on Russian natural gas would simply be shifted…
Could the UK’s Crown Estate Shake-Up Accelerate Offshore Wind Investment?
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King Charles announced no fewer than 40 government bills in his traditional speech to mark the State Opening of Parliament. From establishing a new wealth fund, to charging VAT on private schools, to radical changes to the planning process, the King’s Speech was heavy on big, headline-grabbing policies that will touch the lives of people across the country. But there was one bill the King read through which will affect him in particular. The Crown Estate Bill, the King pronounced, will “modernise The Crown Estate by removing outdated…
What Does Von der Leyen’s Re-Election Mean for Europe’s Future?
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The European Parliament's endorsement on July 18 of German Ursula von der Leyen for a second five-year term as president of the European Commission marks a bid for continuity in the EU's executive branch with a seasoned politician whose European tenure has been inextricably bound to the fortunes of the bloc's political center. An accomplished scion of the European project's founding generation of senior civil servants, the Belgian-born von der Leyen built a successful career as an adroit and effective cabinet minister under German Chancellor Angela…
The Dramatic Fall of Mexico’s Oil Giant
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Once one of the world’s most successful oil companies, the Mexican state-owned firm Pemex, has been falling increasingly into debt over the last decade, only surviving by pursuing cheaper shallow-water oil operations and being bailed out by the government. The recently elected incumbent Mexican president, Claudia Sheinbaum, is expected to continue supporting President Andres Manuel Lopez Obrador’s (AMLO) ambitious oil and gas plans despite Pemex’s failings, in addition to adding renewable energy capacity. However, following years…
U.S. Natural Gas Market Becomes a Global LNG Force
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After years of being more or less isolated from the rest of the world, U.S. benchmark natural gas prices are becoming an influential force in shaping the structure of many contracts on the global LNG market. The price at Henry Hub in the United States will give increasingly important price signals to the regional LNG and natural gas prices in Asia and Europe due to the sheer scale of rising U.S. LNG exports and the growing share of American LNG in the imports of buyers in Europe and Asia. The U.S. benchmark natural gas…
China's Dominance in Renewable Energy Expansion Continues
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China has long dominated the renewable energy space, as the government has been investing in ramping up the country’s green energy capacity for several decades. It is already the biggest solar and wind producer, as well as the biggest lithium miner, in the world, and its expansion plans show no signs of slowing. A recent report by Global Energy Monitor (GEM) showed that China’s wind and solar power project pipeline is almost twice as big as the rest of the world combined. China currently has 180 GW of solar energy and 159…
FTC Probes Oil Executives' Texts for OPEC Collusion
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The U.S. Federal Trade Commission (FTC) is intensifying its scrutiny of the oil and gas sector, focusing on communications between executives at major firms such as Hess Corp., Occidental Petroleum Corp., and Diamondback Energy Inc. The FTC's investigation seeks to determine if these executives improperly coordinated with OPEC officials, potentially violating U.S. antitrust laws. Investigators are looking for evidence of collusion, particularly discussions about pricing and oil production levels. Such coordination could lead to higher oil prices…
Copper Demand Surge Drives Consolidation Wave in Mining Sector
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London listed mining group ACG is gearing up for a global deals spree after snapping up a Turkish copper mine for $290m (£223m) today. Acquisition Company Limited (ACG), a special purpose acquisition vehicle listed on the London Stock Exchange, revealed this morning it had bought Turkey-based Polimetal in the first push of a “global copper consolidation strategy”. Polimetal holds mining rights and operates the Gediktepe mine, an open pit mine located in the Bigadiç district of the Bal?kesir province of Western Turkey. …
Russia Cuts Crude Exports To China And India By 17%
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Russia’s four-week average seaborne oil exports fell to 3.11 million barrels a day as of July 14, down by almost 600,000 barrels or 17% from their recent peak in April, Bloomberg has reported. The country’s seaborne crude shipments have now sunk to the lowest since January and are likely to remain that way at least to the end of August, thanks to a rebound of domestic refining rates to a six-month high. China and India are likely to feel the export cuts most keenly since they buy more than 80% Russian seaborne crude sales. However,…
U.S. Oil, Gas Drilling Activity Sees Rebound
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The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. The total rig count rose by 2 to 586 this week, compared to 669 rigs this same time last year. The number of oil rigs fell by 1 this week, falling by a single rig in the week prior. Oil rigs now stand at 477—down by 53 compared to this time last year. The number of gas rigs rose by 3 this week to 103, a loss of 28 active gas rigs from this time last year. Miscellaneous rigs stayed the same…
Canadian Crude Exports From US Gulf Coast Largely Unaffected By TMX Startup
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Canadian crude exported from the U.S. Gulf Coast in June clocked in at 1500,000 barrels per day, only slightly lower than average despite the commissioning of the expanded 590,000 b/d Trans Mountain pipeline (TMX) in May. TMX has the potential to cut shipments from the U.S. Gulf Coast to India, China, and South Korea if more oil from Canada's West Coast heads to Asia. TMX could also displace shipments of some Latin American grades to Asian countries. Vortexa analyst Rohit Rathod has told Reuters that the Gulf Coast’s…
British Gas Owner Centrica's Tax Appeal Dismissed by Supreme Court
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Centrica, the FTSE 100 owner of British Gas, has lost an appeal against HMRC. The Supreme Court has dismissed an appeal by Centrica’s investment arm over the treatment of professional services fees. Centrica Overseas Holdings, the energy supplier’s investment entity, acquired a Dutch company, Oxxio and its four subsidiaries in July 2005. However, the deal didn’t go to plan. Around mid-2009, Centrica decided to sell Oxxio and went on to instruct professional advisers. By March 2011, following a lengthy process, the investment business…
China's Largest Oil Refiner Sees Almost No Throughput Growth
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China's largest oil refining company, China Petroleum & Chemical Corp., aka Sinopec, processed 126.69 million metric tons of crude oil or 5.08 million barrels per day (bpd) in the first six months of the current year, good for a mere 0.1% Y/Y increase, the company has reported. That compared with 1.7% output growth in the first quarter, pointing to a sharp slowdown in processing in the second quarter thanks to higher crude prices and lackluster domestic fuel demand. Sinopec reported that total domestic refined fuel sales declined 2.5%…
Are AI Data Centers Sparking a Bullish Case for Natural Gas?
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In a recent OilPrice article, I argued that new demand from AI Data centers would be bullish for the natural gas market. In this article, I will extend that discussion and explain why I believe there is a dramatic reset coming for gas-focused E&P stocks. Exactly when isn’t part of the discussion here, but I will lay out a compelling investment thesis for stocks exposed to this commodity. It’s tough to be a gas bull, but it's natural gas, I mean. Over most of the past decade, that point of view has pretty well guaranteed you a broken…
China Has Just Gained First-Mover Advantage In Nuclear Fusion
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It’s been seven decades ever since scientists started working on nuclear fusion technology, with the allure of almost limitless clean energy proving too powerful to resist. Unfortunately, milestones have fallen time and again, giving rise to the running joke that a practical nuclear fusion power plant could be decades, if not centuries, away. For nearly two decades, the world’s hopes of building a practical nuclear fusion plant have rested on France-based International Thermonuclear Experimental Reactor (ITER), funded and…
Washington Must Step Up Its Trade in Central Asia... Or Lose Out
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Last week, a delegation led by Senator Sodiq Safoyev, First Deputy Chairman of the Senate of the Oliy Majlis of the Republic of Uzbekistan (and former ambassador of Uzbekistan to the United States), visited Washington, D.C. to continue the republic’s campaign for repeal of the Jackson-Vanik amendment and establishment of normal trade relations with the United States. Jackson-Vanik, which many consider a relic of the Cold War, still applies to the Central Asia republics of Kazakhstan, Tajikistan, Turkmenistan, and Uzbekistan.…
UK's North Sea Oil Ban: Who Benefits, and at What Cost?
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Fossil fuels will remain part of the energy mix for decades to come – if we don’t extract our own resources from the North Sea, our loss will be other polluters’ gain, says Andy Mayer The new government’s plans to capitulate to the likes of Just Stop Oil by banning new drilling licences in the North Sea will do nothing to prevent climate change. Global warming is driven mainly by the consumption of fossil fuels for energy not their extraction. The UK currently consumes 75-80 percent of our primary energy in the form of fossil…
Trinidad's Court Upholds ConocoPhillips' Claim Against Venezuela
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Trinidad and Tobago's High Court has reaffirmed its decision to recognize U.S. oil giant ConocoPhillips' arbitration claim against Venezuela. This ruling, which could potentially freeze Trinidad's payments to Venezuela for joint natural gas projects, marks a significant development in the ongoing dispute over expropriations of oil Conoco's oil assets by the Venezuelan government. In May, the court's original decision allowed ConocoPhillips to enforce a $1.33 billion claim against Venezuela by targeting compensation from joint energy ventures. Despite…
NATO Wrestles with Chinese Influence in Member States
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In a NATO summit in Washington centered on the war in Ukraine and extending support to Kyiv, the Western military alliance also took aim at China for being "a decisive enabler of Russia's war" by supplying Moscow with dual-use products. Finding Perspective: Beijing promptly batted away the label as "lies and smears" but the criticism continued to mount in Washington. NATO has steadily increased its focus on China over the last several years, with Beijing's support for Moscow amid its full-scale invasion of Ukraine marking a tipping point for the…
SunPower Shares Crash Nearly 40% On Work Stoppage
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SunPower Corp. has suspended new solar installations and halted shipments, causing its stock to plunge by nearly 40% in afternoon trading. The solar company informed dealers that starting September 17, it will not support new leases, power purchase agreements (PPA) sales, or new project installations. This decision, outlined in a letter included in a research note from Roth MKM, signals severe operational challenges for SunPower. Analysts and market observers reacted sharply to the announcement. Pol Lezcano, an analyst with BloombergNEF, remarked,…
Canada's Climate Policies Criticized by Oil Sector and Environmentalists Alike
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Canada is trying to perform a high wire act between maintaining its reputation as one of the world’s most climate-conscious superpowers on one side, and its position as one of the world’s largest and most powerful producers of fossil fuels on the other side. Canada has set some of the most ambitious decarbonization targets of any country on Earth. But it is also the fourth-largest oil producing nation, and actively expanding the industry’s reach and production. Indeed, the Canadian oil industry is having a banner…
China Pulls out of Cyprus’ First LNG Import Terminal Under Cash Crunch
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China-based CPP-Metron Consortium has pulled out of a contract with the government of Cyprus for the construction of what was to be the island’s first natural gas import terminal, claiming non-payment by the government, the Associated Press reported on Thursday. According to the consortium, the government has failed to honor its commitments despite promising to do so in a March meeting chaired by President Nikos Christodoulides. “No contractor can be expected to work indefinitely on credit,” the consortium said, as cited…
China's Grip on Rare Earth Industry Tightens as Prices Drop
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Rare earth mineral companies in China have been stung by declining prices at the same time the government "tightens its grip" on the industry, according to Nikkei Asia. Companies like Rising Nonferrous Metals, a rare-earth miner listed in Shanghai, are losing money this year, a stark contrast to last year's profitability. The company is blaming "drastic slide in sales prices of its major rare-earth products," according to the report. They sell dysprosium, terbium and didymium, a mix of neodymium and praseodymium. This company belongs to central…
Hurricane Beryl Aftermath Sees 10 Cargoes Canceled at Freeport LNG
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Unnamed trading sources told Bloomberg on Thursday that loading through August had been canceled for at least 10 cargoes at Freeport LNG’s gas export terminal in Texas after the facility was shut down following Hurricane Beryl. Traders not authorized to speak publicly on the matter told Bloomberg that the figure could rise further since the facility is not yet operating at full capacity. Preliminary data from BloombergNEF revealed that gas flows delivered by pipeline into Freeport on Tuesday were less than a third of normal volumes.…
UK Government Invests £2.5 Billion in Sustainable Steel Manufacturing
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Via Metal Miner According to an official with the country’s new government, an additional £2.5 billion ($3.2 billion) will be made available for the UK steel manufacturing sector. This is in addition to the amount the government has already pledged for new furnaces at Tata Steel’s Port Talbot site. “There is a better deal available for Port Talbot and for the steel industry as a whole, I’m sure of that,” newly appointed Business Secretary John Reynolds said on July 7 during the BBC political show “Sunday…