Energy & Commodities

Could This Emerging Oil State Become The Richest Nation In The World?

Posted by Irina Slav

on Monday, 13 May 2019 8:50

A tiny South American country until recently known mostly as the location of one of the worst mass suicides in modern history is about to acquire a whole new reputation, and this reputation has to do with its oil wealth.

Guyana, sandwiched between Venezuela and Suriname, has in just a couple of years turned from an empty spot on the international oil map into one of the new hot spots thanks to a series of discoveries offshore, made by Exxon and Hess Corp….CLICK for complete article

Tesla Posts Surprising $700 Million Loss In Q1 Earnings Report

Posted by Irina Slav

on Thursday, 25 April 2019 11:32

Tesla may soon announce a capital raise after Elon Musk suggested “There is some merit to raising capital,” adding “It’s probably about the right time,” as quoted by Reuters. The comments by Tesla’s CEO followed the release of the company’s first-quarter results yesterday.

The EV maker reported a net loss of US$702 million as well as a US$1.5-billion decline in cash and cash equivalents, to US$2.2 billion. What’s more, Model 3 production only inched up by…Click here for full article.

Oil Hits 2019 High On Iran Sanctions

Posted by Tom Kool

on Tuesday, 23 April 2019 14:03

Oil prices shot up to new highs for the year on this week after the U.S. announced that it would let waivers on Iran sanctions fully expire. In early trading on Tuesday, WTI topped $66 per barrel and Brent moved above $74.

Oil surges on U.S. decision on Iran sanctions. Trump surprised the oil market on Monday, announcing that he would let U.S. sanctions waivers expire…Click here for full article.

Sila Nano’s battery tech is now worth over $1 billion with Daimler partnership and $170 million investment

Posted by Jonathan Shieber

on Thursday, 18 April 2019 14:24

Sila Nanotechnologies and its battery materials manufacturing technology are now worth more than $1 billion.

The company, which announced a $170 million funding led by Daimler and a partnership with the famed German automaker, started building out its first production lines for its battery materials last year. That first line is capable of producing the material to supply the equivalent of 50 megawatts of lithium-ion batteries, according to Sila Nano’s chief executive officer Gene Berdichevsky.

That construction, made on the heels of a $70 million…Click here for full article.

Canadian Oil Industry Loses Over 20% Of Workforce Since 2014

Posted by Irina Slav

on Tuesday, 9 April 2019 14:09

Canada’s oil and gas industry could shed another 12,500 and more jobs this year, which would bring the total job losses over the past five years to 23 percent of the 2014 total, which stood at 226,500. These are among the findings of a report by PetroLMI, the labor market information service for Canada’s oil and gas industry, a division of Energy Safety Canada.

The reasons PetroLMI lists for the job losses…Click here for full article.