Australia could be global trailblazers in the production of hydrogen according to an article in The Guardian this week. Staff at Queensland University successfully exported hydrogen, produced from renewable energy, to Japan. In other news, copper specialists announce positive predictions; Exxon Mobil reveal profit and loss figures; and Pierre Andurand closes his New York office to focus on the European market.
Here is a selection of our top news stories this week:
Significant growth expected in the copper market. Copper specialists and analysts attended the annual World Copper Conference in Santiago, Chile and unveiled new plans. Despite increasing prices, concerns about ore quality and an ongoing deficit, forecasts for the future are positive thanks to the increase of electric vehicles using twice as much copper. Click here to read more
Australia primed to be a global producer of hydrogen. Countries such as Japan and South Korea are investing in hydrogen as a substitute for LNG and other fossil fuels. The Queensland University of Technology achieved the first export of hydrogen to Japan made from renewable energy. Amid a worldwide focus on climate change, hydrogen consumption is up to 55 million tonnes a year and, if Australian manufacturers can receive government support, they are set to be international leaders. Click here to read more
Andurand Capital LP closes New York office. The hedge fund manager, Pierre Andurand has refocused his business on offices in London and Malta after the New York office shut just one year after commencing trading. The company has a staff of 24 people worldwide after multiple staff departures and a 20% annual decline in 2018. Click here to read more
Exxon Mobil Corp release profit and loss figures for 2018. During a presentation at the Scotia Howard Weil investor conference, profit and losses of $230 million dollars were revealed. Last year, the oil producer launched investments in energy trading by recruiting veteran analysts and specialists. According to regulatory filing, Exxon Mobil’s operating profit for 2018 was up to $10 million, compared to a $99 million loss in the previous year. Click here to read more