Sudan coup attempt

The spokesperson of Sudan’s ruling Transitional Military Council (TMC) stated that the army had foiled a coup attempt on 11 July, arresting 12 army officers, four soldiers, and an unspecified number of intelligence service officers. The report emerged after the TMC and the civilian opposition Alliance for Freedom and Change (AFC) had reached an agreement on 5 July to form ...

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Venezuela’s oil output collapse will intensify erratic approach to investors

Venezuela’s political crisis remains in stalemate. Escalating oil-sector sanctions imposed by the United States have contributed to massive declines in crude oil production, but the collapse of Venezuela’s petroleum industry has not resulted in a political shift. President Nicolás Maduro appears to maintain full control of Venezuela’s political, economic, and military apparatus nearly six months after Juan Guaidó, the president ...

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Crude Oil Trade: Limited optimism for Mexican crude oil shipments

Mexico has been liquifying some of its oil assets, but instead of deep-water blocks, it has mainly been oil fields closer to shore. This has been quite disappointing for companies interested in the country. Shell, Petronas, Total and Repsol have been some of the first companies to bid, but President López Obrador has been making it clear that there will ...

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Hydrogen fuel cells vie for the future

The rise of electric vehicles and their projected impact on demand for fuels has been sufficient to cause concern in the oil and gas industry, with low- or no-emission vehicles making inroads in both consumer and commercial markets. To date, electric vehicles have been nearly synonymous with battery-powered vehicles, specifically lithium-ion batteries. Battery electric vehicles (BEVs) have shown aggressive growth ...

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Securities Finance Q2 Review

Securities Finance Q2 Review $2.59bn in global Q2 securities lending revenues IPOs boost US equity lending revenues Decline in fixed income revenues, particularly UST and USD credit Global securities lending revenues for Q2 2019 came in at $2.59bn, 10% below the average Q2 revenue for the last three years. The largest contributor to the revenue shortfall was European equities, however ...

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Monitoring Your Initial Margin Exposure

As you may have read, the Basel Committee and IOSCO have agreed to a one-year extension of the final implementation phase of the margin requirements for non-centrally cleared derivatives[1]. This means implementation for Phase 5 firms will be split, with some entities not falling into scope until September 1, 2021. Much of the focus is on the changed timelines but, ...

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Philadelphia Energy Solutions (PES) closure tightens Atlantic Basin refining markets

Troubles at Philadelphia Energy Solutions (PES) On 20 June, a major explosion at PES, the largest refinery on the east coast of the United States, compromised the facility’s gasoline production capacity for an indeterminant amount of time. The following week, on 26 June, news broke that PES would be ceasing operations because of the accident. On July 21, PES filed ...

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