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RUSSIA’S invasion of Ukraine, its neighbor in Eastern Europe, has worried business leaders in Cebu, who cite its possible effects on a local economy still on its way to recovery after being pounded by the Covid-19 pandemic and Typhoon Odette (Rai).The Kremlin’s military action against Ukraine, a former Soviet republic, on Thursday, Feb. 24 sent Brent crude, the global energy benchmark, topping $100 (over P5,000) a barrel for the first time since 2014.If the conflict drags on, businessman Steven Yu said, it would be a “perfect storm for the business sector” here, as a prolonged conflict could send oil prices soaring.Russia is the world’s third-largest oil producer and second-largest natural gas producer.“A resolution and a halt to the conflict is an immediate solution,” said Yu, president of Mandaue Chamber of Commerce and Industry.Yu, however, said the Philippine government’s achievement of “solid economic fundamentals in the past years,” because of “competent economic managers will momentarily soften the negative impact of the conflict.”Filipino Cebuano Business Club chairman Rey Calooy urged the National Government to focus on the country’s food security.“When in time of war, money becomes worthless.

What is the impact of the conflict between Russia and Ukraine on macro markets and commodities? Russia''s production of zinc ingots is small, and the impact of the conflict between Russia and Ukraine on zinc prices is mainly due to higher energy costs in Europe, where refineries cut production due to a sharp rise in natural gas prices in October last year. The impact of the conflict between Russia and Ukraine on the aluminum market is similar to that on the zinc market, pushing up the price of electrolytic aluminum through rising energy costs in Europe and production cuts in European refineries. The difference is that Russia is rich in aluminum resources. Russia''s aluminum ore and electrolytic aluminum production account for 5.5% and 6% of the global output respectively. The conflict between Russia and Ukraine will also have a non-negligible impact on the supply of metal nickel.

European natural gas prices halted a record-breaking rally, as Russian flows to the continent ramped up and U.S. sanctions targeting Moscow omitted the energy sector.

MISE À DAY A few hours after the Russian invasion of Ukrainian territory, the Minister of International Relations and La Francophonie of Quebec, Nadine Girault, is preparing to position her government as a model on the international plan to distance itself economically of Russia. “Russia is the second largest producer of natural gas after Saudi […] The post Invasion of Ukraine: Quebec ready to set itself as a model on the international scene first appeared on The Bobr Times .

MOSCOW (Reuters) – Eastbound natural gas flows through Russia’s Yamal-Europe pipeline jumped four-fold on their way to Poland on Friday, data from German network operator Gascade showed, amid a Russian attack on Ukraine.

THE EDITOR: As the world is gripped by the unfolding events in Ukraine, seeing Russian forces close the airspace in Kharkiv and move west of the Donbass towards Kyiv, many have begun pointing fingers at what they believe has caused this military aggression. While Russian state propaganda claims that this is a "military exercise" to "denazilise Ukraine" and the political class of the US is busy trying to throw all the blame on Donald Trump or Joe Biden, we must look further to the root cause of this. The moment Ukraine became an independent state at the fall of the Soviet Union, Russian leadership never saw the nation as anything other than rightful Russian territory. President Vladimir Putin going as far as to say on Monday that Ukraine has no right to statehood as it is a land that was built by and for Bolshiveks a century ago. So with this as the political foundations of how the Russian Federation would see Ukraine, it would have been fundamental for Ukraine to be able to defend itself from military aggression such as Thursday''s.

(TSX: AAV ) CALGARY, AB , Feb. 24, 2022 /CNW/ - Advantage Energy Ltd. ("Advantage" or the "Corporation") is pleased to report 2021 year-end results, reserves and an operational update. Advantage achieved record results during 2021, while capital spending remained modest. Advantage''s long history of disciplined capital deployment continued, with every well drilled since the second half of 2020 achieving payout in under one year and many achieving payout in under 5 months. The Corporation has a line-of-sight to eliminate net debt during the third quarter (based on current strip commodity prices) and intends to initiate a share buyback program in second quarter pending regulatory approval. Advantage''s affiliate Entropy Inc. continues to make progress on its previously announced financing (see News Release dated December 30, 2021 ) and remains on-track to close during the first quarter of 2022. In order to maximize shareholder returns, Advantage''s priority is growing adjusted funds flow per share (a) while maintaining a strong balance sheet and enhancing profitability through all phases of the commodities cycle.

The post March Natural Gas Expires Lower as U.S. Fundamentals Trump Russian-Ukrainian Conflict appeared first on Natural Gas Intelligence

Investors were shaken by Russia''s attack on Ukraine, pushing European natural gas prices to another high.

Baytex Energy press release (BTEGF): Q4 Adjusted funds flow C$0.37 per share, compared to C$0.15 in Q4 2020.Petroleum and natural gas sales C$552.40M, compared to C$233.64M in Q4 2020.

One Bank''s View Of What Happens Over The Next Few Hours, For The Rest Of The Week, And Beyond With markets scrambling to peer beyond the fog of war, Deutsche Bank FX strategist George Saravellos breaks it down, and writes that It is perhaps most useful to think about the market impact of the dramatic developments in Ukraine over the last twenty four hours by time horizon. His thoughts are below: Over the next few hours, the direct impact is likely to be dominated by the likely severity and scope of sanctions to be potentially placed on Russia and the impact this has on various aspects of financial plumbing. The jurisdictions that are most likely to impose freezes on Russian assets are likely to be seen at most risk of capital diversion towards those that are not. For example, with Russia still holding 200bn of EUR reserves, there is a question of what happens to this allocation. We highlighted overnight how GBP has potentially also benefitted from significant Russia capital inflow in the past and is therefore at risk from capital diversion.

Iowa’s attorney general is looking into the huge increase in fertilizer prices. During a call with reporters Thursday, Tom Miller said increases would be expected with the rising cost of natural gas as well as other factors. “But the question is, do those factors justify the increases?” Miller pointed out anhydrous ammonia prices are up more than 300 percent compared to last year, urea and potash are up about 215 percent, and liquid nitrogen is up 250 percent. …

Nuclear power is looking like a more attractive alternative to relying on natural gas from Russia right now.

Russia’s attack on Ukraine Wednesday means the conflict will take a bigger toll than believed on the U.S. economy as it drives oil prices and inflation higher and intensifies supply chain snarls. “This moves us toward a less favorable economic outlook with slower activity and higher inflation,” says Gregory Daco, chief economist at EY-Parthenon. Like other economists, Daco had based his forecast on the most likely scenario of a Russian troop deployment that fell short of military action. That would have led to a modest two-tenths of a percentage point reduction in U.S. growth this year to a still healthy 3.8%. Under the worst-case scenario of a full-scale war, Daco predicted a hit to growth of up to a percentage point. He says he’s moving toward the more dire outlook but for now is predicting a middle-ground impact of about 0.6 percentage points. Oxford Economic says it has shifted its base forecast for global economic growth to its scenario of a full-scale invasion. “We’re looking at the tensions via the prism of an economy that’s recovering from COVID, global supply chains are really stressed, and we have a high inflation environment,” Daco said. “The tensions will further fuel inflation and further stress supply chains.” Keep in mind the U.S. isn’t nearly as vulnerable to the conflict as Europe, which gets about 30% of its oil from Russia, compared with about 3% for the U.S., says Tom Kloza, chief global analyst for the Oil Price Information Service.

Europe increased its energy dependence on Russia, hoping to temper Putin''s militarism. But instead, it "funded the Kremlin''s rearmament."