Oil, gas and mining

Sep 12 Hyundai battery plant faces at least 2-3 month startup delay following ICE raid, CEO says. About 475 workers, mostly South Koreans, were arrested. The plant, part of a $7.6B EV factory complex, was to come online this year. “For the construction phase of the plants, you need specialized people.”

Sep 12 An Annual Blast of Pacific Cold Water Did Not Occur, Alarming Scientists

Sep 12 Japan cut its Russian crude oil price cap to $47.60/barrel, matching the EU, while imposing new sanctions. The lower cap is expected to have no impact on procurement due to Sakhalin-2 project exemptions. Russia is 0.1% of Japan’s crude imports.

Sep 12 An Annual Blast of Pacific Cold Water Did Not Occur, Alarming Scientists | The cold water upswell, which is vital to marine life, did not materialize for the first time on record. Researchers are trying to figure out why.