crude oil News

An Indian company recently discovered vast quantities of rare earths in Madagascar, which may help break China’s hold on the market.

The relatively unknown Gina Rinehart, Australia’s richest person may soon over take Bill Gates and Carlos Slim to become the world’s richest person.

Blackstone Group’s latest buyout fund is now sized at $16 billion according to a source familiar with the matter, which makes it one of the largest private equity funds in history.

The globe’s second largest iron-ore exporter holding abundant high-grade resources currently accounts for over 30% of the overall seaborne market volume.

A recent Barclays report says that the global balances projected for 2012, remain supportive for Crude Oil prices, occasioning the increase in forecast average prices for 2012.

Vale SA, the world’s largest iron-ore producer, doesn’t expect any slowdown in demand from China in the next five years.

A U.S.-based technical-standards group has granted final approval to airlines to power their planes with a blend of kerosene and biofuels.

The latest Rapaport Melee auction saw prices for small diamonds move into new territory.

Underwater mining for rare earths used in high-tech electronics equipment is economically and possibly environmentally unviable according to the Council on Foreign Relations.

Overall, the global carbon market experienced 5% growth on the previous year in 2010.

According to Japanese scientist the vast deposit of rare earths minerals, crucial in making hi-tech electronics products can be easily extracted from the Pacific Ocean floor.

As Kazakhstan drives to become one of the globe’s largest gold producers a third refinery has become necessary to help meet its ambitious target.

Leading Wall Str banks JPMorgan and Goldman Sachs have cut their forecasts for crude oil prices in Q3 after the IEA announced they were releasing 60 million barrels of oil in July to assist global economic recovery.

The International Energy Agency, a coalition of oil-importing nations, announced plans to release 60 million barrels of crude from emergency stockpiles over the next month, shocking traders and slashing prices, especially for light sweet oil.

British gas producer BG Group says it has doubled its best estimates of its oil and gas reserves in Brazil’s Santos basin.

Australian Prime Minister Julia Gillard says the country will have emissions trading soon.

London Stock Exchange’s $3.7 billion (C$3.6 billion) bid to buy the Toronto exchange has fallen through in the face of a higher bid led by a group of Canadian banks, leaving the LSE vulnerable for take over itself.

Asian countries move to release emergency oil stockpiles as part of a coordinated plan by consumer nations to ease the impact of climbing energy prices on economic recovery.

The Kuwaiti government has approved a $14.5 billion spend on what is to be the country’s biggest oil refinery.

Oil blocks being sold by Shell in Nigeria only require the signature of the incoming energy minister but negotiations with the state oil company could still cause delays.

China opens its first rare and precious metals exchange in its Hunan province.

The International Energy Agency’s decision to release 60 million barrels of crude from its reserves was only taken after it consulted with India, China and Saudi Arabia.

For the first time in Japan a top recycling firm has announced a program to recover precious metals from electronic devices.

Even after the Kimberly Process granted a belligerent Zimbabwe clearance to sell its “blood diamonds” the U.S. said it would block any sale effort by Mugabe’s regime.

Global Industry Analysts Inc says world gold production is projected to exceed 2.6 thousand metric tons by next year.

Iraq Petroleum 2011 will be essential in helping companies plan their strategy in Iraq and develop a full understanding of the upstream opportunities in addition to a focus on Kurdistan’s natural resources and additional capacity comes on stream...

India’s appetite for the metal shows no sign of easing in the face of strong prices.

Silver’s soaring price is impeding the solar industry’s ability to compete with cheaper fossil fuels.

The Middle East’s second largest steel producer has said it intends becoming one of the globe’s top steel exporters by 2016.

Metals researcher Beijing Antaike Information Development Co. forecasts a 32% decline in Chinese refined copper imports for 2011 from last year.

Industry specialists and delegates attending a recent aluminium conference held in Chicago expect stable to higher prices and premiums.

The world’s largest gold consumer’s imports of the metal climbed 222% in May.

The Obama administration has announced that it intends to place a 20-year ban on mining on 1 million acres of land surrounding the Grand Canyon.

As another clear indication of increasing investment demand for precious metals in China, the Peoples Bank of China has announced that it is significantly increasing its issuance of gold and silver coins in 2011.06.21

The body representing the gold industry has proposed a set of standards which would enable miners to certify that their gold comes from conflict free sources, similar to blood diamonds and the Kimberly Process.

Human rights groups want diamonds from Mugabe’s Marange mine blacklisted as “blood diamonds” but most member nations of the Kimberly Process are weary of comparing a government to insurgents.

Despite seasonal factors, gold price fundamentals remain good.

Anglo-Australian mining firm announces further investment into its Australian iron ore operations.

Heavy rare earth elements prices have more than doubled in June as the Chinese government considers further centralising control over mining assets.

Global economic conditions should see gold trading at just over $1,600 an ounce by the end of the year.

Many poor Pacific nations are eager to grant the world’s first deep sea mining licence as protest groups warn of economic and environmental dangers.

After successfully negotiating its IPO, Glencore is now setting its sights on growth by acquisitions.

Richard O’Brien, CEO of Newmont Mining says a weakening dollar and increasing Chinese demand will see gold top $2,000 an ounce in the next five years.

UBS Investment Bank has raised its three-month gold forecast by over 14%.

A dual listing at a later date may still follow says CEO.

Even with copper prices currently moving downward the potential for the market to climb to new highs still surrounds the metal.

The two zones of the Husab deposit are thought to contain 358 million pounds of uranium oxide.

China’s coal producers expect coal consumption to climb this year according to investment bank Macquarie.

Copper prices are forecast to reach a record $12,000 a metric ton by the end of this year on rebounding Chinese imports.

In the biggest discovery in the region in 12 years ExxonMobil says it has found the equivalent of 700 million barrels of oil beneath the Gulf of Mexico.