Spring 2019 is ushering in important political changes that are being watched for their impact on oil and other commodities. In Algeria new leadership was promised recently, following widespread protests. That’s fuelled discussion about the future of the country’s oil and gas industry. Then on March 19, Kazakhstan’s president, Nursultan Nazarbayev, announced his resignation after nearly 30 years in power. The surprise announcement has similarly prompted questions about the direction oil and gas policy will take, after changes to tax legislation started to show signs of success in attracting new investment. Away from politics, Australian commodity producers and infrastructure operators were bracing for disruption as Cyclone Veronica headed towards Western Australia. Port Hedland and Port Dampier were cleared of commercial vessels, which could put a hold on iron ore exports for several days. Oil trade through both ports is also likely to be affected, as well as LNG, which is exported from Port Dampier. GRAPHIC OF THE WEEK Click to enlarge Go deeper: Factbox on Kazakhstan’s commodity sector transformation VIDEO: LNG IN EUROPE European LNG Chronicles: The Russia question One year ago, markets were uncertain if Europe would, or even could, absorb the record levels of LNG forecast by Platts… continue reading
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Source: CTRM Center