Javier Blas

Javier Blas


Chief Energy Correspondent at Bloomberg News. I write about oil, gas, mining, agriculture and commodities. Any views expressed are my own. jblas3@bloomberg.net

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The fact that Chinese coal demand is still increasing, rather than having peaked nearly a decade ago, puts into perspective Beijing's climate change challenge (and its 2060 net zero ambition). By the way, Chinese oil demand continues to increase too | #EarthDay 

@Dyllonius  @OilXsOh  dear Lord! Sorry, of course you are right. It's near Cape Town, no Johannesburg. I don't know what I was thinking about (I had been in Saldanha Bay myself... !!!!)

CHART OF THE DAY: After the Covid crash last year, global CO2 emissions are rebounding sharply in 2021, led by coal demand in the power sector (a lot of it in emerging countries), according to new @IEA  report | #coal  #OOTT  #EarthDay  #ClimateAction 

From the IEA: "Electricity demand growth remains closely linked to economic growth in China, with demand increasing on a 1-to-1 ratio with GDP. What additional share of electricity demand is met by coal depends on how fast technologies such as renewables and nuclear come on line"

@MrSamWilkin  Ha!!! The state radio (which read a statement from the army) may be glossing the reality a bit. He seems to have been visiting the troops in the north, rather than actually fighting. But details sketchy.

This background paper from @_hudsonc  has a good summary of the situation on the ground (written only a few hours ago). A reminder that what's happening in Chad is completely linked to Libya, too | #OOTT  #Tchad 

PODCAST: Our world is built on commodities: from the raw materials in our mobile phone to the wheat in our toast. But who is behind this global trade and should we care? A conversation with @RSAMatthew  about our book The World for Sale | @theRSAorg 

OIL MARKET: Vitol, the world's top independent oil trader, sees a big demand surge in 2H 2021 and 2022. “We will need all eight cylinders to get through 2022,” Vitol CEO Russell Hardy said. “We believe $70-$75 is an entirely sensible outcome for 3Q" | #OOTT  More on @TheTerminal 

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‘Yes Minister’ has a perfect summary of most Western countries response to the coronavirus outbreak 😷

The waiting line for Trump’s speech in #Davos  (still nearly one hour to go). Has the feeling of teenagers queuing for a concert, but this are billionaires and CEOs#tictocnews  2018 #Davos2018 

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COLD WEATHER: Siberia? Nope, just central Madrid after the biggest snow fall in perhaps 40 or 50 years | #OOTT  #LNG 

🚨BREAKING 🚨Saudi Arabia is launching the oil market equivalent of a declaration of war: plan for a big production hike, and offering huge discount for its crude | #OOTT  #OPEC  #SaudiArabia  with @A_DiPaola17 

Texas utilities are asking citizens to conserve electricity if possible as ERCOT prices surge across the board above $5,000 per Mw (!!!) and hit the $9,000 cap in many nodes. Texas electricity grid is facing massive demand as cold weather hits southern and central U.S. states

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SUEZ CANAL BLOCKED: The 400-meter long MV Ever Given remains stuck sideways inside the narrowest part of the waterway, with vessels pilling up north and south of it unable to cross. Our full story is here:

Only in #Davos  you get a sign with “private car pick-up” direction alongside the “A day in the life of a refugee” exhibition. #Davos20182 #tonedeaf018 #tictocnews 

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VIDEO: US Coast Guard says it’s keeping an eye on 27 oil tankers anchored off the coast of Southern California. Another great example of floating storage build-up as demand for oil and refined products plunge | #OOTT  #Contango  video via @USCGLosAngeles 

🚨BREAKING 🚨 Saudi Aramco to supply 12.3 million barrels a day in April, that's up from 9.7m b/d in March, and 300k b/d **above** the company's maximum sustainable capacity, so clearly Riyadh is tapping inventories for shock-and-awe strategy. Huge, huge escalation | #OOTT 

TEXAS BLACKOUT UPDATE: Right now, @ERCOT_ISO  is supplying **less** power than it did yesterday at the very same time. More than 60 hours into the blackout, there's little sign of improvement (other than potential demand is a bit lower, so that gives breathing room) #TexasBlackout 

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