As expected, Saudi Arabia will try to ease upward pressure on oil prices by ending its production cap until the end of June. The Saudi government’s news agency reported on Sunday that the country would end its voluntary relief in crude production at a consistent one million barrels. With one day until the end of the second trimester. Saudi Arabia’s Energy Ministry said the country’s crude production will be about nine million barrels by the end of June.
In addition to the Saudi decision, Russia will also cut production by 471,000 barrels per day until the end of June, Russian Deputy Prime Minister Alexander Novak announced on Sunday. This relief is 29,000 barrels less than the supposed half-million barrels according to Relief of Days that Russia claims to have achieved for the current March quarter.
While those production limits are important, they may not have the same effect on prices as the conflicts in Gaza and the Houthis’ attacks on shipping in the Red Sea. These conditions have contributed to the rise in global oil prices, which have risen between 8% (Brent) and 11% (West Texas Intermediate) since the beginning of the year.
In addition, OPEC producers Iraq and the United Arab Emirates announced that they would end their voluntary production cuts of 220,000 barrels per day and 163,000 barrels per day, respectively, until the end of the second quarter. The next OPEC political negotiations are scheduled for June, where production bases for next year will be discussed. This discussion is helping to delineate the share of production that will be allocated to the country, and an improvement consistent with the benchmark means an improvement consistent with production. OPEC uses independent global power indicators to identify those benchmarks.
The benchmark question is why Angola withdrew from OPEC at the end of 2023, and it remains a point of contention for Nigeria. Meanwhile, U. S. production stands at about 13. 1 million barrels per day, making it the world’s largest producer.
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Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, i. e. if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of the financing of the assignment and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to show an improvement in its main indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.