Uranium prices and uranium miners have displayed fantastic returns for the past 6 months after lagging the rest of the commodity/energy complex until Q3 2010; whilst a correction is overdue (and taking place), this increase is justified by fundamental, contrarily to the 2007 spike which very speculative.
The document summarizes key findings from the World Energy Outlook 2010 report. It finds that while recently announced policies would make a difference, more ambitious action is needed to achieve sustainable energy goals. The report also finds that lack of ambition in Copenhagen accords has increased the cost of limiting global temperature rise to 2°C. Additionally, it notes that the age of cheap oil is over but policy can lower prices, renewables are growing but need long-term support, and phasing out fossil fuel subsidies is the most effective way to cut energy demand.
The document summarizes key findings from the World Energy Outlook 2010 report. It finds that while recently announced policies would improve the energy outlook, much more ambitious action is needed to achieve sustainable energy goals. Unless commitments made at Copenhagen are fully implemented by 2020, limiting global temperature rise to 2°C will be nearly impossible. The age of cheap oil is over, but smart policy can still lower prices from what they would otherwise be. Renewables are growing but continued long-term support is critical. Phasing out fossil fuel subsidies is the most effective way to reduce energy demand.
This document summarizes mineral production and policies in Asia-Pacific countries in 2011. It finds that the region accounted for 20% of global economic growth and was a major producer of minerals like coal, copper, gold, and nickel. Australia, China, and India were among the leading mineral producers. The document also describes mining policies and reforms in countries like Australia, Mongolia, India, Indonesia, the Philippines, and Vietnam regarding taxes, royalties, environmental regulations, and decentralization.
Energy Geopolitics and Future of Russian Oil and Gas Exportguestb19a13a7
Kоnstantin Simonov’s speech presentation at the Petroleum Ingineering Summer School «Production Operations - Surface Facilities for Transport, Water Handling and Discharge». Dubrovnic, Croatia, June 18, 2009.
Energy Geopolitics and Future of Russian Oil and Gas Exportenergystate
Kоnstantin Simonov’s speech presentation at the Petroleum Ingineering Summer School “Production Operations - Surface Facilities for Transport, Water Handling and Discharge”.
Dubrovnic, Croatia, June 18, 2009.
Qinfa: Industry Overview by BBIC in IPO Prospectusasianextractor
The document discusses a report commissioned by the Group from BBIC to provide information on the coal industry to potential investors. BBIC is a reputable research company in China with substantial experience publishing market reports. The BBIC Report included overviews of the global coal industry, global coal reserves and production, and global coal consumption based on data from reliable sources. It was commissioned to independently research, analyze, and report on market trends in the coal and transportation industries.
Cover Story Indian Entrepreneurs Are More Measured Than The Chinese
Corporate Credit Bank Guarantee
Business Trivia Vadilal- A Oldest brand of India
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
The document provides an overview of current economic indicators for India and globally in January 2011, including stock market indexes, currency exchange rates, commodity prices, and articles on various economic topics such as nuclear power, inflation in Asia, emerging markets like Brazil, and the Indian central bank raising interest rates. It also previews contents of the current issue including cover stories on nuclear power and inflation impinging on Asia's growth, as well as sections on emerging markets, the steel industry outlook, and financial news.
The document summarizes key findings from the World Energy Outlook 2010 report. It finds that while recently announced policies would make a difference, more ambitious action is needed to achieve sustainable energy goals. The report also finds that lack of ambition in Copenhagen accords has increased the cost of limiting global temperature rise to 2°C. Additionally, it notes that the age of cheap oil is over but policy can lower prices, renewables are growing but need long-term support, and phasing out fossil fuel subsidies is the most effective way to cut energy demand.
The document summarizes key findings from the World Energy Outlook 2010 report. It finds that while recently announced policies would improve the energy outlook, much more ambitious action is needed to achieve sustainable energy goals. Unless commitments made at Copenhagen are fully implemented by 2020, limiting global temperature rise to 2°C will be nearly impossible. The age of cheap oil is over, but smart policy can still lower prices from what they would otherwise be. Renewables are growing but continued long-term support is critical. Phasing out fossil fuel subsidies is the most effective way to reduce energy demand.
This document summarizes mineral production and policies in Asia-Pacific countries in 2011. It finds that the region accounted for 20% of global economic growth and was a major producer of minerals like coal, copper, gold, and nickel. Australia, China, and India were among the leading mineral producers. The document also describes mining policies and reforms in countries like Australia, Mongolia, India, Indonesia, the Philippines, and Vietnam regarding taxes, royalties, environmental regulations, and decentralization.
Energy Geopolitics and Future of Russian Oil and Gas Exportguestb19a13a7
Kоnstantin Simonov’s speech presentation at the Petroleum Ingineering Summer School «Production Operations - Surface Facilities for Transport, Water Handling and Discharge». Dubrovnic, Croatia, June 18, 2009.
Energy Geopolitics and Future of Russian Oil and Gas Exportenergystate
Kоnstantin Simonov’s speech presentation at the Petroleum Ingineering Summer School “Production Operations - Surface Facilities for Transport, Water Handling and Discharge”.
Dubrovnic, Croatia, June 18, 2009.
Qinfa: Industry Overview by BBIC in IPO Prospectusasianextractor
The document discusses a report commissioned by the Group from BBIC to provide information on the coal industry to potential investors. BBIC is a reputable research company in China with substantial experience publishing market reports. The BBIC Report included overviews of the global coal industry, global coal reserves and production, and global coal consumption based on data from reliable sources. It was commissioned to independently research, analyze, and report on market trends in the coal and transportation industries.
Cover Story Indian Entrepreneurs Are More Measured Than The Chinese
Corporate Credit Bank Guarantee
Business Trivia Vadilal- A Oldest brand of India
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
The document provides an overview of current economic indicators for India and globally in January 2011, including stock market indexes, currency exchange rates, commodity prices, and articles on various economic topics such as nuclear power, inflation in Asia, emerging markets like Brazil, and the Indian central bank raising interest rates. It also previews contents of the current issue including cover stories on nuclear power and inflation impinging on Asia's growth, as well as sections on emerging markets, the steel industry outlook, and financial news.
Cover Story Outlook Of Non- Ferrous Metal
Corporate Credit FCNR(B) Loans
Business Trivia First self-made female millionaire
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story What Flipkart can learn from TCS
Corporate Credit Forfaiting
Business Trivia Bharatiya Reserve Bank Note Mudran Private Limited
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story Base Metal Outlook (CY 2014)
Corporate Credit-Buyer’s Credit
Business Trivia -Bombay Stock Exchange
Visual Facts-Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story Why corporate houses keen to set up universities
Corporate Credit Packing Credit in Foreign Currency
Business Trivia BRICS- Mini IMF
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
A presentation by Dr. Teodor Chirica on "Financing Crisis and Nuclear Energy Revival" at the Forum Invest held in Bucharest on 12 November 2008. The presentation is based on public references, Cernavoda 3-4 experience, discussions with different bankers and personal observations by the author.
Nuclear energy can be produced through two main methods: nuclear fission and nuclear fusion. Nuclear fission involves splitting uranium atoms and was used to power early nuclear reactors and create atomic bombs. Nuclear fusion involves fusing hydrogen atoms and is how energy is generated in stars. While nuclear energy produces little greenhouse gas emissions, it also produces radioactive waste that remains dangerous for thousands of years and accidents can cause radiation poisoning. There are also concerns about the large amounts of water used in uranium mining and current lack of long-term storage for nuclear waste. Alternatives to nuclear energy include wind, water, solar and biomass.
This document discusses inflation, its causes and effects. It defines inflation as a general rise in price levels over time which erodes purchasing power. Inflation is caused by excess money supply chasing limited goods. Key effects are a changing income distribution, reduced savings and capital formation, profits from price rises leading to black markets, and hardship for those on fixed incomes. While some argue low inflation spurs growth, critics say it ultimately hinders growth. The document examines India's anti-inflation measures and policies to better control inflation like monetary and fiscal policies, wage limits, spending cuts, and supply-side reforms.
The document provides an update on a 2003 MIT study on the future of nuclear power. It finds that since 2003, concern over climate change has increased demand for carbon-free energy sources like nuclear power. However, nuclear power deployment has been slow, with few new plants under construction globally or in the US. Capital costs for all power sources have escalated significantly. As a result, nuclear power remains not cost competitive with coal and gas in deregulated markets without a carbon pricing policy. More progress is needed to enable nuclear power to play a substantial role in mitigating climate change risks.
Nuclear power plants generate electricity through nuclear fission, which is the process of splitting atomic nuclei to produce heat and release energy. This heat is used to convert water to steam to power turbines and generate electricity. While nuclear energy produces low carbon emissions, it also produces radioactive waste that remains dangerous for thousands of years and accidents or terrorism targeting plants could expose the environment and people to radiation. Both the advantages of low emissions and disadvantages of waste and safety risks must be considered in evaluating nuclear energy.
Conference – Paris, March 5 2012:
A view of the European energy markets (Middle East events, Fukushima accident and economic downturn are impacting the energy markets in terms of security of supply and energy mix).
Plus a focus on the French oil & gas market
A review on the state of the European energy market by Colette Lewiner Energy, Utilities and ChemicalGlobal s Leader, Capgemini.
This document provides an overview and summary of key economic indicators for India such as GDP, inflation, interest rates, exports, imports, industrial production, and more. Some of the key points include:
- India's GDP was worth $1729 billion in 2010 and grew at an annual rate of 5.3% in the first quarter of 2012.
- India reported a trade deficit of $13.5 billion in April 2012 and a current account deficit of 3.7% of GDP in 2011.
- Inflation was at 7.23% in April 2012, while the benchmark interest rate was 8%.
- Exports were worth $24.5 billion in April 2012, led by gems
This document summarizes a 2002 article that assesses progress toward sustainable radioactive waste control in the United States from 1992 to 2002. It discusses definitions of sustainability in relation to radioactive waste and reviews principles from the 1992 Rio Declaration. It also analyzes management of high-level waste, transuranic waste, low-level waste, and mixed waste, finding both progress and setbacks. The article concludes by recommending improvements to policy and institutions to move toward more sustainable radioactive waste control.
The document discusses India's goals for achieving environment and energy sustainability by 2050. It analyzes India's current primary energy consumption and CO2 emissions compared to other countries. It also examines India's electricity production mix focusing on renewable energy sources like solar, wind and hydro. The objectives are to increase renewable energy capacity like solar to 175GW by 2022 and explore new sources from oceans. By transitioning to cleaner energy and improving efficiency, the document concludes India can meet its energy demand while balancing environmental sustainability and energy security goals.
Over two-thirds of lending went to low income countries with a boost in overall renewable energy lending. Presented by Elisabeth Mealey.
http://www.worldbank.org/energy
Indonesia has achieved strong GDP growth through robust infrastructure development and governance. Electricity demand is expected to nearly double by 2021 due to economic expansion. The government aims to increase electrification nationwide and coal's share in the energy mix to capitalize on domestic coal reserves. New regulations encourage private sector participation in generation to meet rising demand and close supply gaps between regions such as Java-Bali and outer islands.
Fission Uranium's latest corporate presentation, featuring information on the company's award-winning team and PLS project, as well as the uranium sector and nuclear industry.
Energy Security in South Asia Opportunities & ChallengesIPPAI
The document discusses energy security challenges and opportunities in South Asia. It notes that while the region has significant energy resources, optimal development is hampered by a lack of cooperation and integration between countries. Major challenges include high energy demand growth outpacing supply additions, large unmet energy access needs, and mobilizing financing for new infrastructure projects. The document examines trends in energy consumption, resources, and generation across South Asian nations.
Coal provides over 29% of global primary energy and generates 41% of the world's electricity. Global coal production reached a record high of 7,830 million tonnes in 2012, with China as the top producer at 3,549 million tonnes. According to estimates, proven global coal reserves would last between 109-132 years at the 2012 production rate. China, the United States, India, Indonesia, and Australia are the top five coal producers.
2010 deep research report on global and china solar wafer or ingot industryqyresearch
The document is a 310-page research report from 2010 on the global and China solar wafer/ingot industry. It provides an overview of the industry chain and manufacturing processes. It also analyzes historical and forecast production, demand, supply, prices, costs, profits and market shares for major global and Chinese manufacturers from 2008-2014. The report includes profiles of over 30 global and Chinese manufacturers and analyzes the feasibility of a 100MW wafer project in China. It is available for purchase from QY Research Group in hard copy, electronic copy or both formats.
The document discusses coal supply scenarios and challenges in India over the coming decade. It notes that while coal demand has grown at a CAGR of 7.33% between 2002-2012, supply has grown at a lower rate of 5.16%, leading to a widening gap. Key challenges include limited domestic reserves, transportation bottlenecks like inadequate rail infrastructure, and delays in operationalizing allocated coal blocks. To bridge the gap, companies are pursuing overseas coal asset acquisitions, but this presents challenges around resource nationalism in key supplier countries like Indonesia.
Cover Story Outlook Of Non- Ferrous Metal
Corporate Credit FCNR(B) Loans
Business Trivia First self-made female millionaire
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story What Flipkart can learn from TCS
Corporate Credit Forfaiting
Business Trivia Bharatiya Reserve Bank Note Mudran Private Limited
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story Base Metal Outlook (CY 2014)
Corporate Credit-Buyer’s Credit
Business Trivia -Bombay Stock Exchange
Visual Facts-Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story Why corporate houses keen to set up universities
Corporate Credit Packing Credit in Foreign Currency
Business Trivia BRICS- Mini IMF
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
A presentation by Dr. Teodor Chirica on "Financing Crisis and Nuclear Energy Revival" at the Forum Invest held in Bucharest on 12 November 2008. The presentation is based on public references, Cernavoda 3-4 experience, discussions with different bankers and personal observations by the author.
Nuclear energy can be produced through two main methods: nuclear fission and nuclear fusion. Nuclear fission involves splitting uranium atoms and was used to power early nuclear reactors and create atomic bombs. Nuclear fusion involves fusing hydrogen atoms and is how energy is generated in stars. While nuclear energy produces little greenhouse gas emissions, it also produces radioactive waste that remains dangerous for thousands of years and accidents can cause radiation poisoning. There are also concerns about the large amounts of water used in uranium mining and current lack of long-term storage for nuclear waste. Alternatives to nuclear energy include wind, water, solar and biomass.
This document discusses inflation, its causes and effects. It defines inflation as a general rise in price levels over time which erodes purchasing power. Inflation is caused by excess money supply chasing limited goods. Key effects are a changing income distribution, reduced savings and capital formation, profits from price rises leading to black markets, and hardship for those on fixed incomes. While some argue low inflation spurs growth, critics say it ultimately hinders growth. The document examines India's anti-inflation measures and policies to better control inflation like monetary and fiscal policies, wage limits, spending cuts, and supply-side reforms.
The document provides an update on a 2003 MIT study on the future of nuclear power. It finds that since 2003, concern over climate change has increased demand for carbon-free energy sources like nuclear power. However, nuclear power deployment has been slow, with few new plants under construction globally or in the US. Capital costs for all power sources have escalated significantly. As a result, nuclear power remains not cost competitive with coal and gas in deregulated markets without a carbon pricing policy. More progress is needed to enable nuclear power to play a substantial role in mitigating climate change risks.
Nuclear power plants generate electricity through nuclear fission, which is the process of splitting atomic nuclei to produce heat and release energy. This heat is used to convert water to steam to power turbines and generate electricity. While nuclear energy produces low carbon emissions, it also produces radioactive waste that remains dangerous for thousands of years and accidents or terrorism targeting plants could expose the environment and people to radiation. Both the advantages of low emissions and disadvantages of waste and safety risks must be considered in evaluating nuclear energy.
Conference – Paris, March 5 2012:
A view of the European energy markets (Middle East events, Fukushima accident and economic downturn are impacting the energy markets in terms of security of supply and energy mix).
Plus a focus on the French oil & gas market
A review on the state of the European energy market by Colette Lewiner Energy, Utilities and ChemicalGlobal s Leader, Capgemini.
This document provides an overview and summary of key economic indicators for India such as GDP, inflation, interest rates, exports, imports, industrial production, and more. Some of the key points include:
- India's GDP was worth $1729 billion in 2010 and grew at an annual rate of 5.3% in the first quarter of 2012.
- India reported a trade deficit of $13.5 billion in April 2012 and a current account deficit of 3.7% of GDP in 2011.
- Inflation was at 7.23% in April 2012, while the benchmark interest rate was 8%.
- Exports were worth $24.5 billion in April 2012, led by gems
This document summarizes a 2002 article that assesses progress toward sustainable radioactive waste control in the United States from 1992 to 2002. It discusses definitions of sustainability in relation to radioactive waste and reviews principles from the 1992 Rio Declaration. It also analyzes management of high-level waste, transuranic waste, low-level waste, and mixed waste, finding both progress and setbacks. The article concludes by recommending improvements to policy and institutions to move toward more sustainable radioactive waste control.
The document discusses India's goals for achieving environment and energy sustainability by 2050. It analyzes India's current primary energy consumption and CO2 emissions compared to other countries. It also examines India's electricity production mix focusing on renewable energy sources like solar, wind and hydro. The objectives are to increase renewable energy capacity like solar to 175GW by 2022 and explore new sources from oceans. By transitioning to cleaner energy and improving efficiency, the document concludes India can meet its energy demand while balancing environmental sustainability and energy security goals.
Over two-thirds of lending went to low income countries with a boost in overall renewable energy lending. Presented by Elisabeth Mealey.
http://www.worldbank.org/energy
Indonesia has achieved strong GDP growth through robust infrastructure development and governance. Electricity demand is expected to nearly double by 2021 due to economic expansion. The government aims to increase electrification nationwide and coal's share in the energy mix to capitalize on domestic coal reserves. New regulations encourage private sector participation in generation to meet rising demand and close supply gaps between regions such as Java-Bali and outer islands.
Fission Uranium's latest corporate presentation, featuring information on the company's award-winning team and PLS project, as well as the uranium sector and nuclear industry.
Energy Security in South Asia Opportunities & ChallengesIPPAI
The document discusses energy security challenges and opportunities in South Asia. It notes that while the region has significant energy resources, optimal development is hampered by a lack of cooperation and integration between countries. Major challenges include high energy demand growth outpacing supply additions, large unmet energy access needs, and mobilizing financing for new infrastructure projects. The document examines trends in energy consumption, resources, and generation across South Asian nations.
Coal provides over 29% of global primary energy and generates 41% of the world's electricity. Global coal production reached a record high of 7,830 million tonnes in 2012, with China as the top producer at 3,549 million tonnes. According to estimates, proven global coal reserves would last between 109-132 years at the 2012 production rate. China, the United States, India, Indonesia, and Australia are the top five coal producers.
2010 deep research report on global and china solar wafer or ingot industryqyresearch
The document is a 310-page research report from 2010 on the global and China solar wafer/ingot industry. It provides an overview of the industry chain and manufacturing processes. It also analyzes historical and forecast production, demand, supply, prices, costs, profits and market shares for major global and Chinese manufacturers from 2008-2014. The report includes profiles of over 30 global and Chinese manufacturers and analyzes the feasibility of a 100MW wafer project in China. It is available for purchase from QY Research Group in hard copy, electronic copy or both formats.
The document discusses coal supply scenarios and challenges in India over the coming decade. It notes that while coal demand has grown at a CAGR of 7.33% between 2002-2012, supply has grown at a lower rate of 5.16%, leading to a widening gap. Key challenges include limited domestic reserves, transportation bottlenecks like inadequate rail infrastructure, and delays in operationalizing allocated coal blocks. To bridge the gap, companies are pursuing overseas coal asset acquisitions, but this presents challenges around resource nationalism in key supplier countries like Indonesia.
Global steel industry and in particular China: future outlookMining On Top
Mining On Top: Stockholm 2013
26-27 Nov 2013
Global steel industry and in particular China: future outlook – Dr Nae Hee Han, World Steel Association; Chief Economist
This document provides an overview and summary of the 3rd Annual Mongolia – Trade and Commodity Finance Conference. It discusses the near and medium term outlook for Mongolia's mining sector, particularly for copper and metallurgical coal. Globally, demand from China has slowed and supply has caught up for many commodities. For Mongolia, exports and foreign direct investment are under pressure as prices fall. Copper prices are expected to remain under short term pressure but have structural long term support. Metallurgical coal has limited upside. Capital markets have seen weak equity markets and a drop in mining valuations, though bank liquidity remains strong. To realize its mineral potential, Mongolia needs a reliable regulatory environment to attract long term
Sharing Pakistan energy supply situation report prepared in 2011 with detailed analysis of Primary supplies, consumption pattern, issues and recommendation. Unfortunately, Pakistan's energy supplies constraints mentioned in 2011 still broadly remain relevant till date
This document summarizes a presentation on global thermal coal markets, with a focus on India. It discusses key drivers of India's increasing thermal coal imports, including high ash content in domestic coal, rising transportation costs, and flat domestic production struggling to meet growing demand from power plants. While India's thermal coal demand is expected to significantly increase due to power sector growth, domestic reforms will determine whether imports continue rising or domestic supply can better meet demand. Over the long term, India is poised to become one of the largest global importers of thermal coal.
Nigeria has significant energy resources but faces development challenges. Nigeria's primary energy consumption is dominated by biomass but it has large natural gas reserves and is a major oil exporter. Future projections estimate the industrial sector will become the largest energy consumer as the economy grows. Nigeria aims to increase annual per capita electricity consumption sixfold by 2025 through expanding generation capacity, improving utilization rates, and reducing transmission and distribution losses. However, the country must also diversify its energy mix and strengthen energy security to be less dependent on oil and gas exports.
The document analyzes energy demand and supply in Nigeria. It finds that Nigeria has significant oil and natural gas reserves, contributing greatly to its GDP. However, attacks on oil facilities have reduced crude oil production at times. While coal production is minimal, electricity generation has increased to meet rising demand, though a large portion of the population still lacks access to electricity. The document projects that under current economic growth trends, Nigeria's energy demand will continue rising significantly in the coming decades.
This document discusses solar energy prospects and challenges in India. It notes that solar energy has significant potential to meet India's growing energy demands. However, large-scale adoption faces technical challenges including improving solar cell efficiency, integrating solar power into the electric grid, and developing affordable energy storage solutions. Additionally, the levelized cost of energy from solar is currently higher than from conventional sources. The Indian government has implemented policies like the Jawaharlal Nehru National Solar Mission to promote solar power, but progress in achieving targets has been limited. Continued efforts are needed to address challenges and make solar energy economically viable compared to coal and other fossil fuels.
This document discusses coal's role in Japan's energy policy. It notes that Japan imports nearly all of its coal, mainly from Australia and Indonesia. Global coal demand is expected to increase significantly by 2035, especially in developing nations. While coal prices have been stable, competition for coal resources is increasing worldwide. The document also examines Japan's energy mix, coal supply security concerns, trends in carbon capture and storage technologies, and policies to promote cleaner coal utilization.
I Mediterranean Economic Intelligence Forum by Mourad Preure, President, EMER...ASCAME
The document discusses energy scenarios in the Mediterranean region and argues for increased energy cooperation between Europe and North Africa. It notes the region's heavy reliance on oil and forecasts rapid growth in electricity demand in Southern Mediterranean countries. While North Africa has abundant solar and wind resources, renewable energy currently provides a small portion of its energy. The document advocates for projects exporting renewable energy from North Africa to Europe and a new energy partnership centered around natural gas and a transition to renewable sources to address the region's increasing energy interdependence and divergence in prosperity.
Natural Resources - Canada - What's next - March 2022.pptxpaul young cpa, cga
All levels of government, private sector, and Indigenous band councils need to work together to better develop Canada’s natural resource in a sustainable way. All Canadians could benefit by higher revenue from the natural resources sector.
Canada mining practices are some of the bests in the world!
Post Recession Offshore - Oil & Gas IndustryAftab Hasan
This document provides an overview and outlook of the global offshore oil and gas industry following the economic recession. It discusses factors influencing the offshore market such as increasing global energy consumption and the cyclic nature of oil prices. The financial implications for the offshore industry are also examined, noting growing investment in deepwater and horizontal drilling while fleet utilization does not yet require additional rigs. The outlook for offshore energy vessels is cautiously optimistic, with demand for rigs and support vessels increasing but the market remaining cautious about new builds. The conclusion is that as onshore reserves deplete, offshore exploration and production will extend into new basins, creating opportunities for industry growth.
The document discusses renewable energy sources and wind energy technology. It provides an overview of Pakistan's current energy scenario and targets for renewable energy. It also summarizes key concepts in wind turbine engineering design, including theories of wind turbine aerodynamics, optimal rotor design equations, blade shape optimization, and calculations for gear ratios and power output based on wind speed. Sample data on wind speeds and accumulated power at different sites are shown.
Cyprus bail in revisited - consequences for small economiesMarkets Beyond
Cyprus bail-in is spilling over and the 100% of added burden is falling on the country, with 70% of its gold reserves at risk and EUR 5.8 billion withheld from banks depositis.
Small economies with a large financial sector are increasingly bullied by larger countries which are quick to find scapegoats
The airline industry challenges and innovationMarkets Beyond
The airline industry faces significant challenges from high fuel costs and environmental regulations. Kerosene accounts for over 30% of airline operating costs, making profitability difficult. Researchers are working on innovations like electric taxiing systems and improved battery technologies to reduce the industry's reliance on kerosene and lower costs. A transition to electricity could save airlines $35 billion per year and make the industry consistently profitable.
The bundesbank repatriates its gold reservesMarkets Beyond
Is the Bundesbank feeling unease with 2/3 of its gold reserves held abroad? This repratriation is a telling story about Germany's confidence in France and the FED.
Current account surplus is a key determinant to bonds market turnaround ita...Markets Beyond
Current accounts are key in determining when an over-indebted country will see it financial situation turning around allowing it to go back to the bond markets under "normal conditions". On this criteria, the discrepancy between Italy and France is startling and not justified by fundamentals: France will be punished by bonds market if nos dramatic action is impletmented by the French Government.
The European Council summit brought a "surprisng" conclusion with the agreement on mutualizing EZ banks' rescue; however the roots of the EZ problems are not addressed: economic and competitiveness imbalances.
Eurozone falling chickens choice internal or external devaluationMarkets Beyond
The political and economic backround in Europe is awful and no good choice is left to solve the huge imbalances between countries: external or internal devalutation.
Whatever the route followed it will translate into a fall in standard of living of Europeans. The path followed by European politicians for the past 4 years has led to a dead end and they will soon have to decide which of two tough routes to follow..
French presidential elections showed a strong following for anti-eurozone candidates, and even stronger for anti-austerity only EU/ECB policy.
This will have consequences for th futre of the euro in a context where the Europe is heading back in recession and Spain is in deep trouble. France is also facing very strong social and economic challenges ahead.
The economic situation in Europe worsens: France's performance is catastrophic and Greece's whist improvin,g remains in negative territory. Europe has not addressed the roots of its failure and will continue to be under market's pressure.
The document discusses political cronyism in France and its negative impact on business. It describes a plot by the former CEO of Veolia, Mr. Proglio, who is now the CEO of EDF and a Veolia director, to replace the current Veolia CEO Mr. Frerot with a former French minister. This is typical of the centralized political system in France where politicians appoint their allies to leadership positions in businesses. Cronyism has grown significantly in France since the 1990s and has harmed the well-being of French citizens. The document recommends shareholders vote against re-appointing Mr. Proglio as a Veolia director in 2014 given EDF's share price losses since he became CEO.
The Greek government's 2011 budget significantly underperformed projections, with a 23% larger borrowing requirement than planned. Revenues were lower than expected and interest payments increased substantially compared to 2010. Greece remains insolvent with a large debt burden and high budget deficit, and discussions are ongoing around private creditors forgiving 70% of Greek debt. However, this would only address Greece's stock of debt and not underlying issues like weak competitiveness and economic growth, which are needed to truly solve the crisis. The bailout funds available may not be sufficient, and Greece will require deep austerity measures that could lead to major social unrest.
The magnificent 7 and equity markets review 11Markets Beyond
2011 was a bumby year for financial markets and 2012 will be no less hectic. However the US economic picture is improving and as written in early 2011 no double dip to be expected but for FED policy folly.
Global imbalances remain, but the eurozone is where lies the deepest problems which have not been properly addressed.
Remain invested in high yielding equities / net cash companies with a strong franchise and look at strong brands in fast growing economies; stay clear from the bond market and financials.
Numbers announced by European leaders concerning the private sector participation to the rescue do not add up: the total losses would amount to EUR55 bn, far from the EUR100 bn trumpeted.
The document discusses the worsening sovereign debt crisis in the Eurozone, focusing on Greece, Italy, and France. Greece's Prime Minister announced a referendum on the latest bailout package, raising doubts about its implementation. Italy's borrowing costs hit record highs as the government struggled to agree on austerity measures. France also faces high debt levels and may lose its top credit rating, weakening the Eurozone's rescue fund. The crisis calls into question whether the current structure of the Eurozone can be maintained.
Euro summit kicking the can down the road once more-Markets Beyond
The Eurozone leaders reached an agreement to address Greece's debt crisis with a 50% nominal write-down of Greek debt held by private creditors, preferential refinancing of the remaining debt, and closer supervision of Greece's adherence to reforms. However, the agreement lacks many important details and only kicks the can down the road by failing to adequately address the underlying issues preventing Greece's economic growth. While providing short-term relief, the measures will not be enough to solve the region's sovereign debt problems in the long run. The agreement benefits China the most as a large holder of European debt.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Budgeting as a Control Tool in Government Accounting in Nigeria
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Navigating Your Financial Future: Comprehensive Planning with Mike Baumannmikebaumannfinancial
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The case for uranium
The spot market price for uranium ended 2010 at its highest level for over two
years, reversing a declining trend in a year that also saw record spot market
activity.
Summary
• Nuclear power generation is today the only viable and credible route to match
growing electricity demand in fast expanding economies but also in the West to
meet CO2 emission reduction targets.
• A large portion of uranium mines are located in deemed “safe zones”.
• Uranium prices reached their top ahead of other commodities and lagged during
the recovery phase: in 2010 and 2011, uranium prices substantially closed up the
gap.
• I do not perceive a risk of shortage with expected increase in production from major
providers and secondary source (new START agreement in particular) and
therefore does not pose a constraint to an extension of nuclear energy; in case of
major stress, stockpiles could be used (just below 3 years of mine production at
2010 rate of extraction).
• With incremental production required, prices will continue to move upwards for
mines to be economically viable to match demand.
• The price of mined uranium is not as fundamental as oil as a usable combustible.
• 2007 peak was mostly speculative, nothing really happening on the field; actual
move is based on fundamentals.
• Uranium shares recovery is spectacular and a correction is overdue. For the long
term investor they represent an added leg to the energy/commodity secular theme.
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1. Long term trend of electricity consumption/production
The world population without access to electricity amounted to 1.5 billion people in 2008
and will still represent 1.3 billion people in 2030.
According to the International Energy Agency, Electricity is the world’s fastest-growing
form of endues energy consumption as it as been for the past several decades. Net
electricity generation worldwide will rise by 2.3 percent per year on average
from 2007 to 2035, while total world energy demand grows by 1.4 percent per year.
This would represent a World net electricity generation increase of 87% (reference
case), from 18.8 trillion KWh in 2007 to 25.0 trillion KWh in 2020 and 35.2 trillion
KWh in 2035. Non-OECD countries will account for 61 percent of world electricity use in
2035 (non-OECD increasing at 3 times the pace of OECD countries, at 3.3% / year).
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The 2007 sector consumption breakdown and annual growth until 2035 are as follows:
Residential 14% +1.1%/annum to 2035
Commercial 7% +1.7%/annum to 2035
Industrial 51% +1.3%/annum to 2035
Transportation 27% +1.3%/annum to 2035
2. Nuclear power generation
Nuclear power generation represents a small portion of the world total
electricity production, whilst increasing from 2.6 trillion KWh in 2007 to 4.5
trillion KWh in 2035 as high fossil fuel prices (particularly from non-conventional
sources or difficult to extract conventional ones) and concerns about security and
greenhouse gas emissions support the development of new nuclear generating capacity.
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Currently, the share of nuclear electricity generation varies widely between regions and
within OECD countries, from over 75% (France, Lithunia) to less than 5% (China, India,
Brazil, The Netherlands, Pakistan, Mexico, South Africa).
Nearly 72 percent of the world expansion in installed nuclear power capacity
is expected to take place in non-OECD countries, particularly China where
estimates range widely in both timeframe and capacity; the IEA forecasts China to add 66
GW by 2035 (China announced a total capacity of 40GW – some officials put the figure at
80 GW -in 2020 vs. 10.3 GW end 2010). For reference, in 2006, the world had 435
reactors located in 30 countries producing 370 GW; by 2035, 350 reactors are planned
worldwide representing an electricity generation of 330GW. According to the
International Atomic Energy Agency, from 2012 ten or more new reactors will
be connected to the grid every year, the first time since 1990.
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Furthermore, world average capacity utilization rates have continued to rise
over time, from about 65 percent in 1990 to about 80 percent today, with some
increases still anticipated in the future. In addition, most older plants now operating in
OECD countries and in non-OECD Eurasia probably will be granted extensions to their
operating licenses. Despite these developments, nuclear electricity will remain a small
portion of the total production.
Notwithstanding the difficulty to forecast nuclear plant construction over the long term,
the IEA increased by 9 percent last year’s projection.
In addition, new technologies are being developed in the field of micro-nuclear
reactors that could match an untapped sector so far. The USA is developing an
underground reactor technology of 140MW whilst France is well advanced with small
offshore nuclear power plants of 50 to 250 MW.
Still, there is considerable uncertainty associated with nuclear power
projections. Issues that could slow the expansion of nuclear power in the future include
plant safety, radioactive waste disposal, rising construction, maintenance, and
decommissioning costs as well as investment risks, traditional fossil energy prices, and
nuclear material proliferation concerns.
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3. Uranium demand and supply
According to the World Nuclear Association, the world total production was 50,772 tU in
2009 (55,000 tU estimated for 2010 as production ramps up in Kazakhstan and Namibia):
• About 63 percent of the world's production of uranium from mines is
from Kazakhstan, Canada and Australia.
• An increasing proportion of uranium, now 36%, is produced by in situ leaching.
• After a decade of falling mine production to 1993, output of
uranium has generally risen since then and now meets 76% of demand
for power generation.
World Uranium Production Data
(thousand pounds U3O8)
Country 2001 2002 2003 2004 2005 2006 2007 2008 2009
Kazakhstan 5,300 7,368 8,579 9,669 11,327 13,725 17,255 22,153 35,929
Canada 32,540 30,178 27,186 30,150 30,230 25,642 24,636 23,399 26,448
Australia 20,070 17,819 19,686 23,427 24,747 19,742 22,387 21,917 20,752
Namibia 5,821 6,070 5,293 7,898 8,182 8,000 7,485 11,351 12,027
Russia 5,200 7,539 8,189 8,319 8,920 8,839 8,873 9,154 9,266
Niger 7,590 7,997 8,171 8,532 8,041 8,928 8,197 7,883 8,431
Uzbekistan 6,240 4,836 4,602 5,241 5,980 5,902 6,032 6,078 6,315
USA 2,630 2,344 2,228 2,228 2,689 4,106 4,533 3,879 3,778
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Ukraine 1,300 2,080 2,080 2,080 2,080 2,080 2,199 2,080 2,184
China 1,300 1,898 1,950 1,950 1,950 1,950 1,851 1,999 1,950
So. Africa 2,270 2,142 1,971 1,939 1,752 1,418 1,401 1,703 1,464
Brazil 151 702 806 780 286 494 777 858 897
India 520 598 598 598 598 598 702 705 754
Czech Rep 1190 1248 897 1071 1061 928 796 684 671
Malawi 0 0 0 0 0 0 0 0 270
Pakistan 60 99 117 117 117 117 117 117 130
TOTAL 93,013 93,951 92,977 104,451 108,441 102,833 107,550 114,373 131,482
Kazakhstan produces the largest share of uranium from mines (27% of world supply from
mines), followed by Canada (20%) and Australia (16%). Namibia (+127%) is the fastest
growing supplier after Kazakhstan (+352%).
The world's known uranium resources went up 15% in two years to 2007 due to increased
mineral exploration since uranium recovery prices in 2003; the known recoverable
resources of uranium were 5.4 million tU in 2009 with Australia holding 31% of this total,
Kazakhstan 12%, Canada and the US 9% each (based on a market price of USD 130 / kg).
This represents 80 years of supply at the current projected new reactors. The
World Nuclear Association (WNA) reference scenario projects world uranium demand as
about 77,000 tU in 2015, and most of this will need to come directly from mines (in 2009,
24% came from secondary sources). China alone, would have consumed 15,000 tU in
2010, 27% of world mines’ production. The World Energy Council forecast demand to
reach between 105,000 tU and 140,000 in 2030.
World Uranium Requirement Data
(thousand pounds U3O8)
Country/Region 2001 2002 2003 2004 2005 2006 2007 2008 2009
USA 47,336 54,664 62,300 50,100 58,300 51,500 49,500 49,100 51,100
European Union 53,024 54,591 54,100 50,400 55,100 53,200 53,600 57,400 56,700
CIS/Non-EU 31,205 30,607 22,700 19,900 21,600 20,700 20,800 15,900 16,500
Asian Pacific 38,435 35,249 37,700 36,400 34,600 35,000 35,300 36,000 38,800
Other 7,089 8,546 8,100 8,100 8,400 10,700 9,100 9,600 10,100
TOTAL 177,089 183,657 184,900 164,900 178,000 171,100 168,300 168,000 173,200
Whilst demand has substantially increased over the past few years to reach an estimated
68,640 tU in 2010 (equivalent to 80,954 tU3O8), production has also significantly
expanded and, in 2009, covered approximately 76% of utilities’ requirements.1
1 3 yardsticks to remember:
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The balance is made up from secondary sources including (2009 data between brackets):
• recycled uranium and plutonium from spent fuel, as mixed oxide (MOX) fuel
(1500-2000 tU)
• re-enriched depleted uranium tails (a few thousands tU)
• civil stockpiles (150,000 t U – unlikely to be reduced for strategic reasons)
• ex military weapons-grade plutonium, as MOX fuel (10,600 tU3O8 / yr)
The following graph suggests how these various sources of supply might look in the
decades ahead:
each GW of increased capacity will require about 200 tU/yr of extra mine production routinely, and about
400-600 tU for the first fuel load
1 t U ≈ 1.179 t U3O8 (oxide)
1 kg U3O8 ≈ 2.204622 lb U3O8
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There is no sign of undersupply if the price, like all commodities, is high
enough to be economically extracted. The graph below shows the elasticity of price
to demand: we are nearing an inflexion point at around 65,000 tU3O8 which requires
higher market prices to maintain margins. The new START accord signed Saturday
February 5 between the USA and Russia aiming at further reducing the nuclear arsenal on
both sides (the previous one was expiring end of 2013) will also bring additional secondary
supply.
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4. Uranium price
The perception of imminent scarcity drove the "spot price" for uncontracted
sales to over US$ 100 per pound U3O8 in 2007 but it has settled back to $40-45
over the twelve months to July 2010. Most uranium however is supplied under long term
contracts and the prices in new contracts have, in the past, reflected a premium above the
spot market.2
The year-end price of $62.00 per pound U3O8 reported by uranium market information
specialist TradeTech was the highest value reported since September 2008. At the
beginning of 2010 the spot price stood at $44.50 per pound, and had been declining since
2008 in line with the global financial crisis. It reached an annual low of $40.50 in March,
before prices began to strengthen and the decline was reversed. In November, prices
accelerated and the spot price ended the year above $60 per pound for the first time since
August 2008. From nadir to trough prices collapsed 71% to recover by 80% to
Januray 31, still lagging the other commodities complex, albeit slightly.
2 Note that at the prices which utilities are likely to be paying for current delivery, only one third of the cost
of the fuel loaded into a nuclear reactor is the actual ex-mine (or other) supply. The balance is mostly the
cost of enrichment and fuel fabrication, with a small element for uranium conversion
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USD CRB index Uranium Oil
High 473.97 [Jul-08] 138 [Jun-07] 147.9 [Jul-08]
Low 200.16 [Feb-09] 40.5 [Mar-10] 37.12 [Feb-09]
31-Jan-11 341.42 73 94.28
H to L -58% -71% -75%
L to 31-Jan-11 71% 80% 154%
H to 31-Jan-11 -28% -47% -36%
As well as an increasing spot price, 2010 also saw record activity on the uranium
spot market with an annual sales volume of 42.8 million pounds. The spot market has
not seen activity close to this level since 1990, when spot market sales reached 40.6
million pounds. Record sales volumes were reported in December, which TradeTech said
was due to Chinese nuclear power expansion plans and the signing of two new contracts
for long-term uranium supply exciting renewed interest from the financial and investment
sectors. The spot price for uranium rose again in January for the eighth consecutive
month. Thin spot supplies continue to exert upward pressure on the uranium spot price
and TradeTech’s Exchange Value is $72.25 per pound U3O8, an increase of $10.25 from
the December 31 Value, 70% higher than a year ago3.
The shift from a buyers’ market to a sellers’ market that began last year gained new
momentum in January. A driving force behind this increase is the ambitious nuclear
program in China, along with reports in recent months from several producers that they
will not meet production targets.
Clearly, the base formation is completed and we have entered a momentum
phase.
Uranium tends to substantially outperform and underperform other metals as the graph
below shows. Since April 2009, the ratio has moved in a narrow range between 5 and 7,
uranium outperforming since April 2010. A very similar pattern applies between oil and
uranium.
3 Less than 20% of the world's uranium supplies are traded on the spot market, rather than under long term
contracts, but the price in long-term contracts is often related to the spot price at the time of delivery.
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If we take Cameco as a proxy for uranium shares and compare it to uranium prices,
uranium shares have substantially outperformed during the 2008 financial crisis, and
from Q3 2009 both have been moving more or less in synchrony (true junior miners, like
for any other junior metal miners, collapsed).
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5. Uranium shares
Since the early 1990s the uranium production industry has been consolidated by
takeovers, mergers and closures. In 2009, ten companies marketed 89% of the
world's uranium mine production:
Among these, besides Cameco, all large producers are either integrated mining companies
or nuclear companies or are state-owned. In addition, approximately 400 junior
mining/exploration companies exist. A few investment vehicles are available to play the
uranium story, but all ETF are encompassing the nuclear industry as a whole and are
therefore not limited to uranium mining companies.
Producers (price as of 04/02/11 or
Cur Price High Low From high From low
07/02/11)
Cameco C$ 41.38 59.75 22.14 -30.74% 86.90%
Uranium One C$ 6.42 17.87 0.6 -64.07% 970.00%
Paladin A$ 5.9 10.59 1.63 -44.29% 261.96%
ERA A$ 11.33 28.58 9.35 -60.36% 21.18%
Denison C$ 3.9 16.57 0.69 -76.46% 465.22%
Uranimu Participation Corp C$ 9.39 18.67 4.85 -49.71% 93.61%
Powershares Glob Nuc Energy (ETF) US$ 22.2 29.04 11.47 -23.55% 93.55%
Areva (non-voting shares) EUR 35.49 83.154 30.51 -57.32% 16.32%
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For Areva, investors can only buy non-voting shares, and the company is always subject to
French political jittering, but remains the world largest integrated nuclear company.
The fantastic performance displayed by uranium companies has mainly been realized over
the past 6 months and a correction is overdue that will provide opportunities to buy.
[Last minute: the correction has started]
Source:
http://www.iaea.org/
http://www.world-nuclear.org
http://www.iea.org
http://www.worldenergy.org
http://www.cea.fr/
http://www.uxc.com/
http://www.uranium.info/
http://www.world-nuclear-news.org
http://www.cameco.com/
http://www.areva.com
http://www.fullermoney.com
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