National oil producers raise their game in battle for oil trade flows

  • HC Insider
  • National oil producers raise their game in battle for oil trade flows
24 July 2019

National oil producers raise their game in a battle for oil trade flows; the cobalt market is in need of ‘illegal’ miners; A $20 billion plan is in place to power Singapore with Australian solar power and India is paving the way for Artificial Intelligence to solve renewable energy problems.

National oil producers raise their game in battle for oil trade flows: The world’s biggest oil exporter, Aramco is looking to open a trading desk in London or Geneva by the end of 2019. The decision comes after Middle Eastern and North African NOCs caused a dispute with independent oil traders such as Vitol and Trafigura in an attempt to win a large proportion of the world’s energy commodities market. There is a now a battle for oil trading volumes: Click here to read more

The cobalt market needs ‘illegal’ miners: As a result of 43 deaths of miners at the Kamoto Copper Company KOV last month, the army is being sent to remove 22,000 illegal workers from the mines in the area. This move is set to become a problem for demanding battery industries in need of large amounts of cobalt, with fears there may now be a shortage. Cobalt producer Chemaf is looking to join forces with Trafigura to resolve the issue. Click here to read more

CRU estimates that “average artisanal trader netbacks” surged 150% to $18 per lb between 2016 and 2017 with production unsurprisingly booming from 6,500 tonnes to over 19,000 tonnes.

Plan to power Singapore with Australia solar power: Australia is set to become the epicenter of low-cost energy. The $20 billion plan is still in the very early stages but could potentially come to fruition in the next 10 years. Former advisor of labor governments, Ross Garnaut stated: “This will be the channel through which production of energy in Australia will greatly reduce emissions in the rest of the world.” Click here to read more

Can India solve renewable energy problems with AI?: India has big ambitions for renewable energy over the next 10 years. A recent discovery found Artificial Intelligence could improve the efficiency of wind and solar by using machine learning programs to predict generation and grid stability between 2029-2030. During this time, the country plans to make its electricity grid more receptive to improve reliability and intermittency glitches. Click here to read more