The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
as shortages across Europe are likely to last for several winters to come, the chief executive of Shell has said, raising the prospect of continued energy rationing as governments across the continent push to develop alternative supplies.
Cuts to the supply of Russian gas since the invasion of Ukraine have plunged European countries into a devastating energy crisis, driving up wholesale prices to leave consumers facing huge bills and the highest rates of inflation since the 1980s.
Speaking at a press conference in Norway on Monday, Ben van Beurden said the situation could persist for several years. “It may well be that we will have a number of winters where we have to somehow find solutions,” he said.
Van Beurden said solutions to the energy crisis would have to found through “efficiency savings, through rationing and a very, very quick buildout of alternatives”.
“That this is going to be somehow easy, or over, I think is a fantasy that we should put aside,” he added.
His comments come as Europe’s biggest economies brace for a tough winter of soaring inflation and the threat of recession, as record increases in gas and electricity bills pile pressure on households and businesses across the continent.
Russia, the major supplier of gas to most of the EU before the war in Ukraine, has throttled exports in response to western sanctions imposed since Vladimir Putin’s invasion six months ago. While not all EU countries are directly reliant on Russian supplies, competition for scarce resources has pushed wholesale European gas prices up by a factor of 12 compared with a year ago.
Britain sources little of its gas directly from Russia, although is exposed to soaring prices on the wholesale market. Liz Truss, who is likely to be the next British prime minister, has so far refused to spell out what help she would give to households as the price cap on energy bills jumps 80% to £3,549 a year from October.
Speaking on Monday, the president of the European Commission, Ursula von der Leyen, said a package of emergency measures would be unveiled soon. Speaking in Slovenia as EU officials work on a plan, which could be announced as early as this week, Von der Leyen said “emergency interventions” would be introduced in addition to longer-term energy market reforms.
“Skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design,” she said.
Advertisement
The French prime minister, Elizabeth Borne, warned companies that energy could be rationed this winter, while Belgium’s energy minister said the next five to 10 years could be difficult.
Speaking alongside the Shell chief executive in Norway, the head of another energy company, TotalEnergies’s Patrick Pouyanné, said Europe’s governments and policymakers would have to plan for a future without Russian gas.
Lifted from the Guardian.
Bitcoin manipulation, fascinating insight
https://youtu.be/Lhf_2gJJS1I
Have a look at Invesco Elwood Global Blockchain UCITS ETF Acc
https://etf.invesco.com/gb/private/en/product/invesco-elwood-global-blockchain-ucits-etf-acc/trading-information
piou you say
"We now see clearly in their presentation they are placing the Off take partnership AFTER the mine construction."
The chronology states the following events:
Finalise Feasibility Study>Construction of the mine plant and supporting infrastructure due to commence>Secure offtake partner>Full Exploitation Licence anticipated in 2019
these events seem to be planned for THIS YEAR
Paul Scott on Stockopaedia "I think this one is very interesting indeed. It's still profitable & cash generative, is priced well below its own net cash pile, has a sound balance sheet (unlike when it went bust in 2012), and has an average lease length of only just over 1 year. So this one could get interesting, especially now that Mr Ashley has got involved." We had a very interesting discussion about the company, here on 30 Jun 2017, prompted by Graham spotting the potential special situation opportunity." Link to discussion http://www.stockopedia.com/content/small-cap-value-report-30-june-2017-gmd-tni-fjet-196927/
Not a game changer | Game Digital from Edison’s Tweet http://www.edisoninvestmentresearch.com/research/report/game-digital2/preview/
thekenner Read the RNS and be enlightened
What about news of a commercial contract? That would be a biggie and transform the share price. On Jan 28th the company stated: "Since mid-October 2013, Ilika has had a single solid-state lithium ion battery cell on test. The cell has been rapidly charged and discharged 2,200 times, which is equivalent to demonstrating a lifetime of around six years in a typical consumer electronics application. Demonstrations of longer lifetimes are in progress. The performance data indicated above is now being shared with Ilika's OEM partners in the US, Japan and Europe reinforcing, and in some cases accelerating, commercialisation discussions."
Ilika (LON:IKA) This is my favourite blue-sky stock at the moment, which has been mentioned here several times recently. It's an advanced materials development company, which is an offshoot of Southampton University, and already has development projects in place with several major multi-nationals, for a variety of products. By far the most exciting one is a film which allows small solid state batteries to be stacked. This they claim is a world's first, and will allow the development of solid state batteries in gradually increasing size which will be smaller, safer, capable of being fully recharged in just ten minutes, and withstand many more cycles than conventional batteries. The market has (rightly) got excited about how this could transform the existing battery problems in smartphones & other such devices. Several years down the line it could mean commercially viable batteries for electric cars, giving the required range & safety. If Ilika is successful in earning the licensing revenues it has forecasted from these projects, then the shares would be a ten-bagger from here, for starters. Of course the key word in that sentence is "if"! So potentially exciting upside, although this type of company is fraught with risk - there have been numerous ground-breaking technologies that have been floated on AIM, and never achieved their aims, burning up investors' money in repeated fundraising rounds. In this case however, the potential seems real, and fairly imminent - the company is talking about being close to signing off several licensing deals that should see revenues coming in later this year. They have a fuel cell technology (which uses a much cheaper catalyst) that is also under development. Today's commercial update reports that an existing commercial development contract with a US company has been renewed, but gives no details. So it sounds generally positive, but nothing specific. http://www.-.com/content/small-cap-value-report-10-feb-2014-cap-ika-ltc-81270/
Graham those large trades of 75,00 @66p and 80,000 @65.93 are BUYS imo as sales of that size wouldn't have achieved those prices in that size and would certainly have knocked the price down more than it is (only down 0.8% on the day). The market makers are doing a good job of keeping the books balanced, there seems to be a supply at the moment. Hopefully when this is finished, the shares will move up on further buying.
It's Directorstalk dot com http://www.*****************/ilika-toyota-preps-solid-state-batteries-for-20s/
It's Directors dot com http://www.*****************/ilika-toyota-preps-solid-state-batteries-for-20s/