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Breaking News:

OPEC Lifts Production in February

Petrobras Plans Dividend Squeeze To Fund Transition to Renewables

Petrobras Plans Dividend Squeeze To Fund Transition to Renewables

Brazil’s state-owned energy heavyweight Petrobras…

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The Largest Threat To The Solar Industry

1. Gabon Coup Roils West African Markets, Avoiding Disruptions So Far

- The second coup in Africa in a month, the military takeover in Gabon that ended the Bongo family’s 56-year rule in the country, has for the first time impacted an OPEC producer.

- According to sources on the ground, the new leadership under Gen Brice Oligui Nguema is not touching Gabonese production and does not want to disrupt exports, yet stocks of producers such as Maurel & Prom (EPA:MAU) or BW Energy (OSL:BWE) all fell this week.

- Oil exports from Gabon have soared to 3-year highs in July and August, trending above production figures at 280,000 b/d, and loadings continue at Cap Lopez and Etame.

- Metals might see a much bigger impact as France’s Eramet (EPA:ERA) announced it halted all manganese production in Gabon, the world’s second-largest producer of the industrial metal.

2. Overcapacity Becomes Largest Threat of Solar Industry

- Fears of margin pressure stemming from recessionary trends and Chinese production overcapacity are looming large over the solar industry, despite 2023 becoming a bumper year in solar installation growth, expected to come in at 56%.

- Shares in the world’s biggest solar panel producer Longi Green Energy Technology slumped by 36% this year, even though the company reported a 42% jump in net income for H1 2023 and ramped up production above expectations.

- Feedstock prices for solar…

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