Saudis Lean on Oil-Trading Contacts in Push to Become Big in LNG; Glencore’s risk appetite dwindles, fueling focus on safer regions; The 3 companies that are shaping the future of food and Sinochem unit discussing blockchain platform with Shell, Macquarie.
Saudis Lean on Oil-Trading Contacts in Push to Become Big in LNG: One of the largest oil exporters, Saudi Aramco is looking to become a major force in natural gas, with the ambition of breaking into the liquified natural gas trading industry. The state-owned company is seeking assistance of their 10-year old trading contacts and selling its first two cargoes to faithful crude customers in South Korea and India to achieve this goal. Aramco is following in the footsteps of some of the most successful international trading houses in order to become a large-scale LNG trader. Next week, traders will be visiting Singapore for meetings alongside the annual Asia Pacific Petroleum Conference. Click here to read more
Glencore’s risk appetite dwindles, fueling focus on safer regions: Glencore Inc has a name for partaking in high-risk mining projects, but the company have recently lessened their risk by branching into safer regions of the world. Last June, the commodity trader took charge of Polymet Mining Corp, who have been developing a mine on the Canadian border; estimated to hold a century’s worth of copper and nickel. This marks the very first time Glencore has taken charge of a huge mining project in the USA after Donald Trump’s change to mining regulations, which favoured domestic mining. Last month, Glencore declared they fell into the biggest financial decline since 2016 at the beginning of the year, with a loss of 32% as a result of weakness in the company’s cobalt operations and plummeting metal prices. David Neuhauser of Livermore Partners, who holds shares in Glencore, stated that the company are now making safer decisions after pulling out of operation in high-risk regions. “It’s hard to tell if Glencore is doing enough to mitigate risk, but they seem to be taking initiative” he said. Click here to read more
The 3 companies that are shaping the future of food: Global food production is set to increase by 75% in the next 30 years, yet there is growing concern that there won’t be enough land and water to fulfil these needs. Companies such as Beyond Meat are finding ways to introduce ground-breaking approaches to food production, which has inspired three other companies to change their methods. Firstly, Impossible Foods is using analytical chemistry to find the compound to make plant-based burgers; while Amyris uses fermentation to make natural products sustainable and preserve them as an ingredient. Finally, CEO of Archer Daniels Midland, claims their brand mission is to ‘unlock the power of nature to enrich the quality of life.’ with a new line of plant-based protein. Click here to read more
Sinochem unit discussing blockchain platform with Shell, Macquarie: Sinochem Energy Technology Co Ltd are in talks with Royal Dutch Shell and Macquarie Group to build an energy blockchain platform. The discussion started back in July between the two firms. Should the plan come to fruition, it could bring huge benefits to the Sinochem technology unit, which has faced financial struggle over the past two years due to overspending with a small return. Click here to read more