When we hear the word "byproduct," it often designates something unwanted or even negative coming out of a decision or process that provides some product or outcome we do want. In the world of mining, however, byproducts are often valuable minerals produced in the course of extracting other desired minerals from their ores. For example, zinc mines often also produce profitable quantities of lead and silver. And, it can be the other way round; gold, silver and copper mines can sometimes also contain profitable quantities of zinc. I mention zinc,…

Crude flow from Lukoil’s West Qurna-2 storage tanks has resumed toward the major Tuba depots after a weekend shutdown, two energy sources told Quantum Commodity Intelligence. Full field operations are expected to be restored between 1 a.m. and 2 a.m., following a precautionary halt triggered by a pipeline leak. West Qurna-2 is one of the world’s largest oilfields, producing roughly 460,000 barrels per day and holding an estimated 13 billion barrels of recoverable reserves—about 10% of Iraq’s total output. Lukoil operates…

In recent weeks, the European Union has seemed to be upping the ante regarding its addiction to Russian hydrocarbons. Internal pressure and market realities seem to be forcing Brussels to close the door to Moscow, full stop. As indicated by the new agreement to phase out all Russian gas imports by 2027 and LNG by the end of 2026, European leaders reiterated that the EU is finally severing the last remaining pipelines, literal and political, that it still binds to Moscow. Even though all statements are emphatic, stating an ambitious timeline and…

Total fuel demand in India, the world’s third-biggest crude oil importer, surged in November to the highest level in six months as construction and agriculture activity picked up after the end of the monsoon season.  India consumed 21.27 million tons of fuels of all kinds in November, up by 3% from a year earlier, and the highest level since May 2025, before the monsoon season began, data from India’s Petroleum Ministry showed.   Gasoline demand fell from the festive month of October in November, but was 2.6% higher last month…

Brent crude has drifted into the low-$60s, a price corridor OPEC+ has spent the better part of two years trying to defend through disciplined supply management. Yet the market’s center of gravity is shifting. Independent forecasts now point to a looming surplus of 2.1–4 million barrels per day in early 2026. Against that backdrop, OPEC+ has chosen what it calls a “strategic pause,” rolling over production quotas rather than deepening cuts. The decision is meant to stabilize prices. But it raises a more fundamental question:…

The United Arab Emirates is growing its LNG exports to meet surging global demand that will outpace investment in supply, according to the UAE’s Energy Minister Suhail al-Mazrouei. “We intend not only to satisfy our local demand, but we are also growing our export of LNG,” the minister told Reuters on the sidelines of the Abu Dhabi Financial Week. “I agree with his excellency, Minister of Qatar, that the demand is going to be much, much more than the projects that we are seeing,” the UAE official added. This weekend,…

The United Arab Emirates is growing its LNG exports to meet surging global demand that will outpace investment in supply, according to the UAE’s Energy Minister Suhail al-Mazrouei. “We intend not only to satisfy our local demand, but we are also growing our export of LNG,” the minister told Reuters on the sidelines of the Abu Dhabi Financial Week. “I agree with his excellency, Minister of Qatar, that the demand is going to be much, much more than the projects that we are seeing,” the UAE official added. This weekend,…

Ukrainian President Volodymyr Zelenskyy was set to meet with key European allies after US President Donald Trump accused him of not reading the latest peace proposal. The December 8 talks in London follow three days of negotiations between Ukrainian and US officials near Miami as negotiators try to find agreement following the release of a US draft peace proposal last month. The 28-point plan was seen as heavily favorable to Russia, and Kyiv has pushed back on some of the more strident, hard-line demands that President Vladimir Putin has pushed…

U.S. exports of liquefied natural gas have been on a record-breaking streak this year, on track to book a 40% annual surge in November, thanks to strong European demand. There is just one problem: this strong demand is fueling higher prices; higher prices are eating into LNG exporters’ profits. When European energy supermajors went after Venture Global, they accused the company of making billions on the spot market while violating its contracts with the supermajors. Venture Global did indeed make billions—and it wasn’t the only…

As U.S. natural gas prices jumped to a three-year high, coal has become a cheaper power-generating fuel for utilities, which are set to run coal-fired generators harder this winter. U.S. benchmark natural gas prices at Henry Hub have jumped from $4.23 per million British thermal units (MMBtu) at the start of November to above $5 per MMBtu by early December. Early on Friday, the front-month futures price was $5.084 per MMBtu. That’s the highest price in three years, as a polar vortex with freezing temperatures and snowstorms gripped most…

There is a rising global interest in extracting much-needed critical minerals from the Arctic to meet the growing needs for various metals and minerals. However, environmentalists are concerned about what impact the exploitation of vast untapped reserves in the region might have on wildlife and the environment. Despite potentially holding huge reserves of critical minerals, several countries have previously avoided mining activities and other invasive actions in the Arctic due to its fragile nature and the wide array of unknown challenges to development.…

The International Energy Agency (IEA) expects a major copper deficit to emerge over the next decade, as demand for the metal rises sharply. Unless global mining for copper is expanded at an accelerated rate, demand could outstrip supply by as much as 30 percent. Meanwhile, several new copper powers are expected to emerge to counter Chinese dominance of the global copper market, with the development of new mining projects. There could be a supply shortage of copper by as much as 30 percent by 2035 as global demand increases, mainly owing to the…

The stock market is hitting record highs. GDP growth is in the green. Tech valuations are defying gravity... fueled by a promise that artificial intelligence is going to generate trillions of dollars in wealth. And yet... everything feels kinda…terrible?  Jobs are disappearing, not in a crash, but in a slow fade. Prices for essentials remain stubbornly high. The divide between the digital economy and physical reality has never been wider.  We are told this is just a transition period. We are told that "efficiency" is messy... but…

Since taking office in January, United States President Trump has spoken out against electric vehicles (EVs), signing an executive order to scrap the “EV mandate” (despite there being no such federal mandate). In recent months, federal support for EVs has waned under the Trump administration, resulting in announcements of delays for several EV-makers due to the ongoing sectoral uncertainty. However, some states are doubling down on efforts to expand their EV markets, with heavy investments in charging infrastructure and other initiatives.…

This week, the US Department of Energy made two substantial financial awards to two SMR builders who each proposed 300 MW units. GE-Hitachi’s BWRX 300 will be built at a TVA facility, Clinch River in east Tennessee, while the two planned Holtec units are for repowering the Palisades nuclear plant in Michigan. The awards are for $400 million apiece with an additional $100 million available for “contingencies”. There were several things that struck us about the DoE’s award, which originated in the Biden administration. First,…

As the spread of renewable energy continues to ramp up around the world, finding more efficient and affordable technologies for energy storage has become a high-priority issue for global energy security. While energy storage addition is making huge strides across the world, leading technologies – most notably lithium-ion batteries – have some critical drawbacks. As a result, the race to find the tech breakthrough to replace lithium-ion batteries is on as “clean energy’s next trillion-dollar business” heats up. …

China’s trade with Central Asian states grew significantly during the first 10 months of 2025, compared with the same period in 2024, according to Chinese government statistics.  Trade turnover with Kyrgyzstan saw the largest spike, rising from $17.4 billion to $23.6 billion. What also makes Kyrgyzstan noteworthy is that, according to Kyrgyz government statistics, the nation’s GDP in the first 10 months of 2025 amounted to about $16.3 billion, meaning that trade with China alone was larger than all the goods…

After several years of stagnation in Mexico’s renewable energy sector, the introduction of more favourable reforms alongside several new solar energy agreements suggests that the Latin American country is pursuing a more diversified energy mix. After several years of energy policy that focused on greater nationalisation, the door is once again open for private participation, which is expected to include the development of several green energy projects and attract investment from various firms worldwide.  Under President Andrés…

Platts just redefined European oil pricing, and it did it with a single line: Russian-crude-derived fuels are out. Beginning Dec. 15 for cargoes and Jan. 2 for barges, any diesel or other oil product that can be traced back to Russian crude will simply not count in the assessments that shape benchmark prices across the region. If that sounds wonky, you’re not alone. This is a material shift in how one of the most influential price setters on the planet defines supply. Historically, Platts has been product-focused. If you offered a cargo of…

Platts just redefined European oil pricing, and it did it with a single line: Russian-crude-derived fuels are out. Beginning Dec. 15 for cargoes and Jan. 2 for barges, any diesel or other oil product that can be traced back to Russian crude will simply not count in the assessments that shape benchmark prices across the region. If that sounds wonky, you’re not alone. This is a material shift in how one of the most influential price setters on the planet defines supply. Historically, Platts has been product-focused. If you offered a cargo of…