Energy: 1. Indian refiners avoid buying Russian crude oil to push for a US-India trade agreement. 2. Baker Hughes data shows the number of US oil and gas rigs increased for the third consecutive week. 3. Namibia refuses to recognize Total Energy a

2026-02-09

Energy: 1. Indian refiners avoid buying Russian crude oil to push for a US-India trade agreement. 2. Baker Hughes data shows the number of US oil and gas rigs increased for the third consecutive week. 3. Namibia refuses to recognize Total Energy and Petrobras's acquisition of offshore rights in the Ludritz Basin. 4. The United Steelworkers passed a national pay and benefits agreement, averting a nationwide strike in the refining industry. 5. Slow progress in the recovery of Chevron's Tengiz oil field after the disaster is dragging down CPC crude oil exports from Kazakhstan. 6. Shell CEO: Legal disputes continue to escalate, and further investment in Kazakhstan has been suspended. 7. Sources: Japan's Mitsui Group is close to acquiring a stake in Qatar's liquefied natural gas (LNG) project. 8. British unions: BP has no intention of complying with a national oil industry collective bargaining agreement. 9. A Greek joint venture seeks to sign a 20-year contract for US-produced LNG to strengthen gas supplies to Southern Europe. Metals/Mining: 1. Zijin Mining released its major mineral production plans for the next three years, raising its 2028 gold production target by nearly 30%, while maintaining its copper and silver production targets at 130-140 tons of gold, 1.5-1.6 million tons of copper, and 600-700 tons of silver, respectively. 2. The United States is competing for key mineral supplies in Africa through purchase and sale agreements and government-backed funding, focusing on Zambia, Guinea, and the Democratic Republic of Congo.