reserves

a labyrinth of reserves that not even the G7 masters

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The alarms went off early on Monday, March 9. The barrel of Brent it shot up and touched the barrier of $120, figures that the market had not seen since the war broke out in Ukraine back in 2022. The fear of suffering the worst energy crisis in half a century has forced the G7 finance ministers to make urgent moves. Extraordinary meetings have already been called to try to stop the blow: The idea that is on the table is to suddenly release between 300 and 400 million barrels of its strategic reserves. But the real problem is not just the price, but the logistical collapse. The blockage has made it disappear from the board about 20 million barrels per day. To put it in perspective, this physical “hole” is five times larger than the impact of the historic Arab embargo of 1973. In the midst of this Western panic, all eyes point to a vital actor that could act on its own to save the furniture: Japan, holder of the third largest strategic reserve in the world, sAccording to energy expert Javier Blas. The Japanese dilemma. Japan is one of the most vulnerable economies to this blockade. According to oil pricethe country imports about 95% of its crude oil supply from the Middle East, and about 70% of those shipments transit through the now blocked Strait of Hormuz. Time is of the essence, since ships take between 20 and 25 days to get from there to Japanese ports. At the official level, the message is one of caution. The Minister of Economy, Trade and Industry (METI), Ryosei Akazawa, has stated that there are “no immediate plans” to release reserves with the sole purpose of lowering prices, remembering that these are used to ensure supply. However, behind the scenes, the machinery is already moving. Akira Nagatsuma, an opposition lawmaker, in statements for Reuters, revealed that the Agency for Natural Resources and Energy (ANRE) already instructed the Shibushi national storage base on Friday to prepare for a possible release of crude oil. Stagflation and industrial paralysis. The consequences of this blockade are already palpable in the real economy. Bloomberg warns that an oil above $100, combined with a very weakened yen (around 160 per dollar), raises the risk that Japan will fall into stagflation. On the streets, the blow is evident. According to NHK World, Gas stations are already raising prices, which suffocates land transport companies for which fuel represents 10% of their costs. The manufacturing sector is also bleeding: giants such as Idemitsu Kosan and Mitsubishi Chemical have had to suspend or reduce their production of ethylene, a crude oil derivative essential for the plastics industry. Japan’s complex and hermetic armor. To understand why Japan is key, you have to look at how it stores its oil. While other countries have more transparent systems, the Japanese model It is a three-layer bunker: national storage (government), private sector storage (mandated by law) and joint reserves with producing countries. The figures vary slightly depending on the source, but reveal a colossal volume. Javier Blas estimate the total at about 440 million barrels, enough for 204 days of imports. For its part, the METI and report of Argus Media They place reserves at around 449-470 million barrels, covering between 214 and 254 days of consumption. The facilities are engineering feats. In addition to traditional above-ground tanks, the country uses underground rock caverns and, as highlighted Shirashima basegigantic floating tanks in the ocean, protected by double hulls and breakwaters. But Japan’s real commercial “Trojan horse” is its international agreements. According to data from JOGMECthe Japanese government rents tanks in its own territory to state oil companies from Saudi Arabia (Aramco), the United Arab Emirates (ADNOC) and Kuwait (KPC). In normal times, these companies use Japan as a trading base for Asia. In case of emergency, Japan has the priority right to buy that crude oil. The Asian contrast. Western suffering contrasts sharply with China’s situation. Beijing did its homework, the country has record commercial inventories of almost 988 million barrels, in addition to its strategic reserves, and keeps 166 million barrels floating safely off its coasts. Its massive transition towards electric vehicles and renewable energies acts as an impenetrable national shield in the face of this crisis. In South Korea, the response has been blunt. According to the medium UDNSouth Korean President Lee Jae-myung has not waited to take internal measures, ordering the preparation of caps on fuel prices and demanding severe punishments against refineries and gas stations that hoard oil for speculation. The country is well equipped: its private companies have reserves for more than 220 days, and the State stores strategic crude oil for another 116 days. A pulse between diplomacy and the physical world. The current scenario has made it clear that financial projections collide head-on with the harsh reality of immobilized ships. While Washington attempts to calm the markets by assuming that high prices are a minor cost for global security, Iran’s Revolutionary Guard warns that the barrel could rise to $200 if the offensive is not stopped. In the midst of this escalation of threats, Asian operators are clinging to a purely tactical deterrent: they trust that the sea route will not be completely blocked for fear of angering military powers such as China, South Korea or Japan itself. However, the paralysis of the oil tankers does not lead to commercial hopes and the diplomatic room for maneuver is quickly exhausted. If the G7 does not achieve convincing coordinated action in the coming hours, Japan could be forced to open the taps of its colossal and complex reserve alone. It will be the litmus test to discover whether its sophisticated three-layer bunker is enough to prevent Asia’s third-largest economy from drying up in the face of the biggest logistical collapse of the last half century. Image | sanjo Xataka | In 2015, Japan showed the world a train capable of reaching 600 km/h. Ten years later we … Read more

Europe has reached the end of winter with depleted gas reserves. A country has a model to save it: Spain

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This winter, which is coming to an end, is being colder than expected, something that as we have seen has caused havoc. Without going any further, there have been planes that have not been able to fly due to lack of antifreeze. If we talk about gas for heating, storage has also reached red numbers: the Netherlands has a reserve of approximately 12%, Germany and France are around 21%, according to AGSI data. In this low-minimum scenario, there are two countries that deviate from the norm: Spain and Portugal, with reserves of 56.87% and 76.7%, respectively. Of course, the difference in capacity is abysmal: 3.57 TWh for the first and 35.9 TWh for the second. It is not a coincidence: it is that the Spanish state has a particular infrastructure that has led it to this point. The context. The conflict between Ukraine and Russia that began in 2022 accelerated the independence of the old continent from Russian gas. Among the measures from Brussels, an emergency rule by which all EU member states had to start the winter with their gas reserves at 90% to ensure supply. However, in 2025 the EU decided to maintain that 90% target. but relaxing the norm to optimize costs. This greater flexibility together with a harsher than expected winter has brought an end to winter with reserves that are at their lowest in the last five years. The harsh European winter. In mid-January, deposits fell below 50%. If the winter ends with a capacity of 30%, Europe will have to inject 60 billion cubic meters of gas. To get an idea, approximately the annual gas consumption of all of Germany. In short, Europe has to refill its tanks in the summer and it will need a lot of imported gas to do so, which means go out into the market and face other competitors and the logistics of bringing it here in an increasingly complicated geopolitical scenario. The Spanish strategy. The Spanish gas storage system is based on two pillars: underground storage and LNG regasification. The second leg is providential, insofar as it is where Spain makes the difference and, furthermore, It is a powerhouse. In fact, Spain owns 35% of all LNG storage capacity in the EU, how Sedigas collects. Its enormous regasification capacity enables diversification of origin, with USA as first supplier with 44.4% of the total gas and another 15 different countries later, according to Enagás data. Spain has an infrastructure of seven plants that makes it possible to receive LNG ships from different sources, thus ensuring supply in case any mishap (technical problems, conflicts, political decisions) fails. Spain started the winter making decisions. Although the previous strategy gives it an advantage over other member states, Spain adopted a conservative strategy When facing this winter 25/26, adjusting to concentrate reserves in January and February, the coldest and with the most demand. A management decision to not waste that cushion prematurely. He was absolutely right: in January gas consumption rose 10.2% compared to the previous year, with a 30% increase in that destined to generate electricity because renewables contributed less than expected. Spain plays in another league. Thanks to its infrastructure, Spain no longer only consumes gas: it re-exports it. It has become a hub for redistributing gas to Europe as a kind of energy logistics platform, providing geopolitical and economic value to a state that, due to its geographical location, is isolated (which, for example, in the electrical field plays tricks on him) Is there real risk? While it is true that widespread shortages are not expected, there are localized risks in Europe. As summarizes El Economista, Spain has precedents of similar levels, such as 2016, 2017, 2019, 2022, where supply was not compromised. Of course, we will have to see what happens with the demand for LNG in summer globally, because it could make European replenishment significantly more expensive. In any case, Spain will get to that moment better than most. The scenario is not very rosy at the moment, precisely, with the Strait of Hormuz closed and the diplomatic crisis between Spain and the US, its main supplier. In Xataka | Europe believed it had won the gas war against Russia. Now it faces a much more uncomfortable reality: its dependence on the United States. In Xataka | The gas market becomes unpredictable: we have tanks full and ships on the way, but the price remains an enigma Cover | Pronor

Getting hold of Venezuela’s immense oil reserves seems like a “bargain.” It’s actually an engineering nightmare.

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The geopolitical board has been blown up with the establishment of the “Donroe Doctrine.” According to energy analyst Javier Blasthis movement seeks to consolidate an energy empire from Alaska to Patagonia to control 40% of world production. Trump has not hesitated, making it clear that his objective is oil, recovering “stolen” assets and executing a lightning reconstruction led by American oil companies. However, Washington’s optimism clashes with technical reality. Analysts consulted by The Wall Street Journal They warn that there will not be an immediate miracle in the wells. In fact, the market has stopped fearing shortages and has begun to discount a future saturation of crude oil that is already pushing prices down. It’s not “black gold”, it’s asphalt. The narrative of easy success collides with geology. Venezuela It has 303,000 million barrels of proven reserves, but the vast majority is located in the Orinoco Belt and is extra-heavy crude oil. Unlike light oil, it is viscous, dense and does not flow naturally; It is more like tar than fuel. Added to the geological complexity is an alarming degradation of quality. A Reuters investigationbased on internal PDVSA documents, reveals that refiners in India (Reliance) and China (CNPC) have canceled orders or demanded drastic discounts because the crude oil arrives “dirty”, with excessive levels of water, salt and metals. These impurities corrode distillation towers and refining equipment, making processing an expensive and risky process. According to the researcher Luisa Palaciosthe country does not even produce the diluents (gasoline) necessary to transport this crude oil through pipelines, which forces it to depend on imports or inefficient mixtures. Low profitability. Despite the magnitude of the reserves, Venezuelan oil is far from being a profitable business. Its current low profitability is based on three critical pillars that any investor must consider. First of all, geology works against us. According to Forbesextracting this heavy crude oil requires massive and constant technical investment in steam injection and “upgrading” plants to transform the bitumen into a marketable product. Without this expensive technology, the resource is simply inaccessible. Added to this are the structural discounts in the market. As Al Jazeera explainsDue to its high density and sulfur content, this crude oil always trades below markers such as Brent or WTI. With a barrel that could fall to 50-60 dollars in 2026, the profit margin for Venezuela would be reduced to a minimum. The bottleneck: logistics. As an analysis in Bloomberg points outthe infrastructure is literally in ruins because loading a supertanker now requires five days, compared to just one day seven years ago. The collapse is such that the state oil company itself has gone so far as to dismantle oil pipelines to sell them for scrap, while key complexes such as Paraguaná are dying due to lack of maintenance. The rescue recipe. Venezuela dreams of the 4 million barrels per day that marked its rise in the 70s, but the financial reality is a bucket of cold water. Francisco Monaldi, director of energy policy at Rice University, calculates that the energy rescue demands 10 billion dollars a year for an entire decade. A goal as ambitious as it is expensive. However, money is not everything when human capital is lacking. CBCNews remember that In 2003, 23,000 skilled professionals were laid off, many of whom ended up in the Canadian tar sands. Without this talent, American cutting-edge technology has no hands to operate it. Furthermore, giants such as ExxonMobil and ConocoPhillips will not move a single drill until legal certainty is guaranteed and settlements are made. billionaire debts of the expropriations of the Chávez era. But why Venezuela if Canada already exists? If crude oil is so “bad” and expensive, why Trump’s interest? The key is a necessary technical symbiosis. Gulf Coast refineries (Texas and Louisiana) They are like “stomachs” Designed for heavy food. Ironically, the oil that the US extracts through fracking is “too good” (too light). To optimize your plants and produce diesel, they need to mix its light crude oil with Venezuela’s heavy crude oil. Rory Johnston and Lino Carrillo they explain thatAlthough Canada’s crude oil is identical to Venezuelan crude, the latter has an unbeatable advantage: it is three days away by ship and has access to deep waters, while Canada suffers from “geographic confinement” due to saturated oil pipelines. Furthermore, by controlling this flow, the US cuts off the supply to “teapot” (independent refiners) of China, which until now bought Venezuelan crude at a discount, thus eliminating a competitive advantage for Beijing. There was a small pulse. Behind Trump’s mobilization, as the New York Times emphasizesChevron has positioned itself as a key player in the entire equation. This desire to go after Venezuelais also explained because it had a single major oil company that has maintained its presence in the country since 1923, surviving nationalizations and crises while competitors such as ExxonMobil left the board. There is a hidden treasure. Beyond oil, Venezuela is a “gas station” that wastes its own product. Luisa Palacios and The Kobeissi Letter The 200 billion cubic feet of natural gas stand out (the largest reserve in the region). Due to pure technical negligence, PDVSA today burns or vents an amount of gas equivalent to the consumption of all of Colombia, losing 1 billion dollars annually in smoke. Added to this is the potential of Mining Bow with critical minerals (nickel, coltan, bauxite) essential for the defense and technology industry. The paradox of the “gas station without hoses.” Trump has taken control of the largest reserve on the planet, but he has found himself with a facility that has no hoses, whose electrical grid is collapsing and whose fuel requires intensive processing so as not to destroy the engines. Although the flow of exports can be redirected quickly from China to the US in a matter of months—benefiting refineries in Texas and Louisiana—the actual reconstruction of the sector is a long-term project. The real battle has not been the capture of Maduro, but the management … Read more

The world’s rare earth reserves, laid out in this graph showing the brutal dominance of a single country

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The rare earths They are neither earth nor are they rare. It is a set of 17 chemical elements that have become the lever that moves both geopolitics like practically any technology and energy sector today. As important as knowing how to produce it is knowing where the reserves are, and in both things there is a name that dominates the international scene: China. And in this graph we can see which countries have the upper hand. Or “the country”, rather. China, prominent name. Prepared by Visual Capitalist from the data of the United States Geological Survey -USGS-, the graph is very clear when it comes to visualizing the estimated rare earth reserves. China has more than twice as much as the next on the list, which in turn has three times as much as the third. The Asian giant would have reserves of 44 million metric tons, Brazil with 21 million and India with 6.9 million. Far on the list are countries like Australia (5.7 million), Russia (3.8 million), Vietnam (3.5 million), the United States (1.9 million) and Greenland (1.5 million) if we take into account those that exceed one million. The crazy thing is that the world total is estimated at about 92 million metric tons, so China has approximately 50% of the reserves. Importance. Rare earth elements are present in practically anything we can imagine. From the most subtle things such as smartphone elements or the magnets in the headphones that we use every day to the most complex things such as space telescopes, aerospace technology or guidance systems for military radars and advanced weaponry. They are also crucial to manufacturing the elements of energy change: batteries both of electric cars as accumulators for renewable energy and the internal systems themselves of both solar panels like wind turbines. And there’s something important here: you can have reservations, but if you don’t process them, those reservations are worthless. Rare earths as a weapon. The problem is that these rare earth elements do not appear isolated in nature, but rather attached to other minerals. It is necessary to separate them, something that is done through an extremely expensive and, above all, polluting refining process. Due to Western environmental policies, for years we relegate that task to a China with a more lax regulation (although it has been changing recently), and with the tariffs imposed by Donald Trump To the Asian country we have seen how China has taken advantage of his position. Same as with Soy. They have the technology and knowledge for processing rare earths, and they have been responding to the new tariffs, cutting off the supply of metals and elements that the west needs to create weapons or to make that technological paradigm shift through renewables. The West, for years, financed its own strategic and technological vulnerability. Even the western mines, such as Mountain Pass in the United Statessent his material to China to refine it there. Examples of affected productions? Suzuki had to stop production of the Swift due to a shortage of components, the European automobile industry has also shouted to the sky and Elon Musk does not have the money to manufacture his robots. making friends. As China has turned rare earths into its most powerful lever of power, the West has had to move and different countries have undertaken missions to search for new rare earth deposits. It is a strategy that is bearing fruit, finding promising deposits in Spain, Norway, Greenland either Japan. It is also being studied how to restart the rare earth producing arm in the West, although the difficulties are there both due to the technique and, above all, due to the restrictions on emissions. Searching under the stones. And that is a big problem that In Spain we are experiencing first-hand. There are several deposits found in our country, but due to this problematic and polluting extraction, mining projects have encountered opposition from neighborhood platforms and city councils. An example is Torrenueva, in an important site found in Campo de Montiel. And that is why there are several projects and research underway that are not favoring the refining of rare earths, but the recycling of these elements to, as far as possible, stop depending so much on a country that has a monopoly both for reserves and production capacity and for contracts with the most powerful mines on the other side of the world. For example, that of Serra Verde that sells exclusively to China until 2027. In Xataka | Sweden believes it has the largest reserve of rare earths in Europe: one more step towards our independence from China

delays reserves in China at the last moment

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Apple had prepared an impeccable global launch for its new iPhone Air. However, China is a market that has decided to wait, marking a contrast to the rest of the world. Your total commitment to esim It now faces a scenario that requires coordination with the operators and the approval of the regulators. What should be a millimeter presentation begins with a stumbling block that exposes the complexity of this movement. In 2022, Apple marked a turning point in the United States by launching the full range of iPhone 14 No SIM card slot. Outside that country, the models continued to arrive with a physical tray, which made the United States a laboratory for the transition to ESIM. Three years later, the company has taken another step with the iPhone Air: the first model that dispenses with physical sim at the global level. Apple announced on September 9 that the device could be reserved since 12 and would reach stores on September 19 in more than 63 countries and regions. The total commitment to Esim stumbles in a market as important as complex Continental China is the only market where the iPhone Air has not been able to comply with the announced calendar. Apple details that only The A35181 model admits ESIM in that country, and that its use is conditioned to the approval of the regulators. To activate the device, customers must go to a store by China Mobile, China Telecom or China Unicom and present an official identity document. The company also clarifies that it is not possible to install ESIM profiles of other operators while the phone is in Chinese territory. The Asian giant remains a key market for Apple despite recent ups and downs. In 2024, iPhone sales there reached 38.5 million units, with higher average prices than in other countries and a very faithful user base, collect action. In the second quarter of 2025, Sales grew by 8% year -on -yearthe first rebound since 2023, promoted by previous discounts and government aids that favored sales of the iPhone 16E. Even so, Apple occupies the fifth place in market share, behind Huawei, Xiaomi, Vivo and Oppo. Apple website view in China: original text (above) and automatically translated version with Google Lens (below) The elimination of the SIM tray not only affects the experience of use: it has also allowed Apple redesign the interior of the iPhone 17 to increase battery size in models sold in the United States. This adjustment translates into greater autonomy with respect to international versions, which maintain the space of the slot. How our Applesfera companions tellthe iPhone 17 Pro and Pro Max marketed outside that country They offer two hours less use than their American equivalents. The strategy reflects how the transition to Esim has implications that go beyond connectivity. The new iPhone Air While China adjusts its calendar, the rest of the world advances unchanged. Apple confirmed on September 9 that the iPhone Air will be launched on September 19 in more than 63 countries and regions, with open reserves from the 12th. Among the initial markets are Spain, the United States, Japan and Mexico, which reinforces the overall scope of the device. This launch also marks an important step for the massive adoption of the Digital Sim card. The launch of the iPhone Air in China will now depend on the speed with which the regulators approve the support of ESIM and the capacity of the operators to guarantee a fluid activation. Apple has indicated that it works with the authorities to Start distribution as soon as possible, According to Sina Technology. Meanwhile, as we can see in the catches above, The official page maintains the message that “The sales information will be updated later,” which leaves buyers waiting. The outcome will mark if this technological transition manages to consolidate without major stumbling. Images | Apple + Photoshop | Screen capture In Xataka | Movistar Swap is official: all the details of the new program to renew your iPhone

The hoteliers promised them happy in a summer of record tourism. Until the ghost reserves arrived

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During the summer the restaurants receive Anything else What tourists, reserves and customers eager for a meal that puts the perfect icing on your vacation. In addition to all that they receive seedlings. For a long time and for the despair of the hoteliers it is common for the high season to increase the ‘Ghost reservations’a phenomenon that is carrying the business economy and has already forced them to Adopt measures. After all, it directly affects its profitability. Ghost reservations? Yes. Maybe it sounds weird, but they are nothing new and certainly have little mysterious for hoteliers, their great victims. The ‘ghost reservations’ are reservations Fallutas that leave a hole in the dining rooms (and the accounts) of the restaurants: a client calls, reserve table for two, three, four diners (may even more) and then it does not appear. Not just that. Nor does it call in advance to warn, so that the business only has the option of filling your hole with another client, something that is not always possible. The Anglo -Saxons call it ‘No-Shows’ and against what may seem affect All kinds of premises: From taverns to Michelin star restaurants, in which those vacancies can translate into a hole in hundreds of euros. It happens frequently? Depends. If we talk about socks and take as a reference the whole sector and the year is not a especially serious problem. At least so shows the Thefork platform, which recently elaborated A study about “ghost reserves”. According to their records, between January and July there was not a single month in which No-Shows They were more than 3.4% of the total reservations. It is a low fact and also reveals a slight descent with respect to last year. If we ask certain hoteliers, the thing changes. A few days ago The voice of Galicia interviewed to the owners of a marswish from Santiago de Compostela who claimed to be receiving “more plants than ever.” And it is not the only business that complains. Another hospitaler of the city speaks of up to six No-Shows A day. In Segovia there are also professionals who They lament of customers who leave them lying without giving explanations (or with pilgrim justifications) after commissioning roasts and the newspaper Minorca It echoed In August of the discomfort of some businesses on the island. “It is a problem, almost in each shift there are cancellations. You are called and they tell you that they are on the beach or that they have left elsewhere and decide to stay,” Antoni Sansaloni, representative of the Menorcan Sector Association, censorship. Is there more data? Yes. Thefork wanted to scratch a little to know details of the phenomenon, which has given us Two interesting perspectives: The first is its geographical distribution; The second, its causes. According to their data, the province most harmed by No-Shows It is Segovia, where they are 5% of the total reservations. They are followed by Menorca and Ibiza, with 4.2% and 4% respectively. In the opposite pole are Biscay (2.5%), A Coruña and Murcia, where the percentage remains at 2.7%. As for the causes, Thefork Point out Basically three. 55% of respondents say they do not appear to reservations for disasters and forgetfulness. 38% argue that if they have left hanging restaurants it has been for “unforeseen” that have also prevented them from warning. And 7% allege that they don’t call to cancel reservations for “shame.” Hoteliers have a somewhat different perspective and They warn that there are customers who reserve in several restaurants simultaneously. Are they a serious problem? The platform calculates that it carries losses that can go Between 5 and 20%depending on the type of business. “The problem is that they make you a roast reserve, that you have to prepare the pig, and that remains in the kitchen,” comment to The advance From a Segovian grill. “It affects us little, but when they make us a big reserve and fail, they destroy us,” agrees Another professional. The complaint is extensible to restaurants with Michelin stars that also They have been found With large groups that do not present or cancel the reservation, “a task” for those responsible, who usually work with closed menus and buy fresh product based on scheduled services. If a customer does not present the business does not recover the investment. Does summer influence? Yes. It is easily confirmed with a quick search on Google. Hoteliers who complain about No-Shwos They usually point out also that the problem is aggravated during the high season, coinciding with the increase in tourism. It is not surprising if one takes into account that restaurants reserves in general. “The rest of the year does not usually happen. The people here are usually always going to the reservation,” Explain A place in Santiago de Compostela. From Segovia Apostillan Also that ghost reserves are noticed above all on weekends “more pointers”, in which they receive especially visitors from the capital. “We are the dining room of Madrid and these issues are accentuated above all on weekends or the bridges in which many people come.” “During the summer months, reserves in the restaurants in tourist areas increase considerably due to the presence of travelers, both national and international. As a result, in this period the non-shows grow exponentially,” They corroborate From the Thefork platform. And can it be avoided? If not to eradicate it to 100%, the sector has moved file to reduce at least the impact of ghost reserves on their businesses. It is increasingly frequent to meet restaurants requesting a card number such as guarantee or deposits or directly do not accept reservations. Thefork herself decided Some time ago Take letters in the matter and expel those users who accumulate a number of frustrated reserves throughout the year, a measure that adds to those that had already been applying before, such as prohibiting multi reservations for the same day. Perhaps the best known case of a ghost reserve that came to … Read more

Gas reserves advance faster than expected

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Europe enters September with an unexpected energy mattress: gas deposits are already 76% of its capacity. Just a few months ago analysts doubted that the continent reached the legal threshold of 80% before November. Today, it not only seems safe, but it is even forecast that reservations could touch 90% if the weather accompanies. Short. According to Bloomberggas injections during spring and summer have been constant, thanks to a calmer market. The result is a level of reservations that, at least at least, the ghost of another energy crisis moves Like 2022-2023. Volatility has been reduced and European prices are maintained below those registered in August of the last two years. The Europe Infrastructure Gas (GIE) confirms that European storage was 76 %, equivalent to about 85 BCM, a level of less than 92 % last year, but aligned with the average of the last decade. A paradigm shift. First of all, Community regulations flexible. According to a June article by Bloombergthe EU will allow up to 2027 deviations of ± 10 percentage points compared to the objective of 90%, also extend in two months the deadline to complete it. This reduces the seasonal pressure of buying in summer at all costs, which in previous years fed speculation. For its part, the global LNG market played in favor of Europe. As an analysis of Ron Bousso for Reuters points outthe fall in Asian demand released cargoes that flowed towards the continent. China, traditionally one of the largest buyers, reduced its imports due to an increase in internal production and commercial tensions with the United States. In fact, Beijing It is promoting Massively the extraction of shale gas and deep perforations, which points to a lower dependence on external LNG in the coming years. Finally, the international offer grew. Bousso has pointed out that the worldwide capacity of LNG will expand from 550 BCM in 2024 to almost 890 BCM in 2030, led by the United States. Only in the first seven months of this year, their exports rose 22 % compared to the previous year, thanks to new plants on the Gulf coast. Germany, the weak link. However, the photo is not uniform. Germany, the largest European consumer, remains the most vulnerable link. A report from the anadolu agency points out that German reserves They are 67%, well below neighbors such as France or Belgium. The installation of Rehden – the largest in Europe – barely reaches 23 % filling, According to Bloomberg. The German delay has history: last winter left his deposits at 7%which forced to spend billions in their recharge. Berlin insists that his four floating terminals of LNG mitigate the risk, but the opposition warns of problems if a particularly cold winter arrives. The Russian unknown. The war in Ukraine continues to weigh on the energy board. Although Russian gas imports have been drastically reduced, LNG cargoes still arrive, sometimes under interposed flags. However, the European Commission presented in June a plan To gradually eliminate all Russian gas and oil imports before 2027, prohibiting new contracts since 2026 and ending existing ones no later than 2027. According to EurostatRussia’s quota in EU gas imports collapsed from 45% in 2021 to less than 20% in 2025, replaced by US flows, Norway and Algeria. The United States enters the equation. That turn has reinforced Washington’s dependence. A July of Reuters report explained that Brussels studies grouping the demand for European companies to negotiate joint purchases of American LNG, within the Aggregateeu mechanism. Under the objective of ensuring sufficient volumes and fulfilling the commitment to acquire up to 250,000 million dollars annually in American energy over the next three years. The Plan evidences EU’s strategy to replace Kremlin with Washington, although analysts cited by Reuters warn that the objective could be too ambitious and leave Europe vulnerable to political swings on the other side of the Atlantic. Forecasts The immediate panorama is more serene: traders expect a winter without shocks if the weather does not give surprises. But in the medium term, the dilemmas persist. As Ainvest has pointed outthe EU has added 70 BCM of new regasification capacity since 2022, but many terminals work at low capacity. There is the risk of assets stranded if the demand remains stagnant and the transition to renewables is accelerated. The possible output is in conversion: several projects seek to adapt gas infrastructure to hydrogen transport, within the decarbonization strategy. More robust reserves. Before a calmer market, at least for now. The continent has gone from the Russian dependence on a more diversified framework, with the US as a key partner and China releasing pressure in global markets. However, vulnerabilities persist: Germany as weak link, overcapacity in LNG infrastructures and the unknown of a climate that could alter the most optimistic forecasts. The 2022 nightmare seems distant, but the European energy transition remains a race against time. Image | Unspash Xataka | Natural gas has become essential in the AI ​​era, and this chart exposes countries with the largest reserves

The countries with the greatest natural gas reserves, gathered in this graphic developer

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Natural gas has become a bridge fuel on the road to decarbonization. Emits less dioxide that coal or oil when used to generate electricity, and in a world that is hitting the Volantazo to renewable energiesgas has established itself as a vital element. Reason? Is being used to feed the voracious data centers And, in addition, it is A geopolitical element. And there, countries with the largest natural gas reserves have a lot to say. And that mixture between natural and geopolitical resources can be seen perfectly in this graph elaborated by Visual Capitalist: The powers. Russia, Iran and Qatar are the indisputable powers when we talk about natural gas reserves. The United States stays close, but the first three, according to these data from the US Energy Information AdministrationThey represent 51% of those world reserves. And the first ten countries, which are represented in the graphic, accumulate 83% of the total natural gas. Russia is the clear clear, with twice more than Qatar and almost tripling the reserves of the United States. The closest is Iran, Another oil power. Protagonist role. And who controls gas, controls a large percentage of the world energy cake. It is estimated that, currently, natural gas represents 23% of the global energy mix. This depends on the country, of course, but one of the largest whales is the United States and there represents 40% of the electricity generation. The reasons are the amount of and efficiency, being your Great advantage which is the most ‘dispatchable’ energy source. It can be activated and deactivated easily and, in a matter of minutes, operates with a capacity greater than 80% to satisfy demand peaks. In addition, what we have already commented: its emissions Co₂ are approximately 50% lower than coal and 30% lower than oil. Trend. The graph represents the status of reservations in 2023, but with more recent data, we see that it is still an essential fuel: Natural gas meant 33% of the increase in world energy supply. The demand for natural gas in 2024 increased 2.5%. Electric generation from natural gas also grew by 2.5%. Natural gas production increased 1.2%. And world trade by gas pipeline and LNG increased by 3.3%, being the first time it grows from 2021. Geopolitics. And that only a few countries have such an essential fuel for the rest, it implies that it is a source of economic, diplomatic power and, in times of crisis, also a weapon. In Europe we have witnessed this from two different fronts. Before 2022, near the 40% of European natural gas was Russian. The invasion of Ukraine caused a series of cuts in the supply and Russia He used it as a weapon in the contest‘drying’ the countries of the European Union that supported Ukraine. This has led the EU to rethink your energy safetydiversifying energy sources and investing in infrastructure such as those of the Green Hydrogen Corridor. And, in this situation, the US has gained weight becoming the largest gas exporter to Europe, using this resource in the Tariff trade war. Artificial intelligence. Beyond politics, this ability to satisfy demand peaks is something that is erecting natural gas as the most important fuel today. Data centers require something called “operational reliability”, or what is the same: they cannot stop working and They cannot depend on renewable energieswhich may have intermittent periods of activity, be their only energy source. In addition, at certain times of computational demand peaks, They need a huge amount of immediate energyand that is where natural gas can meet that demand. The energy need for these is such Data macrocentros that there are companies that are choosing to take over nuclear energy plants to meet your needs. Gas for a while. The natural gas is a complex scenario because, although we want to get rid of it in favor of renewable energies, factors such as its energy advantage and strategic pacts favor that it is rope for a while. The projections indicate That the energy demand of data centers only in the United States will grow from 180-290 twh from 2024 to 515-720 TWH in 2030. In the rest of the world, It will pass of the 415 TWH to 945 TWH in 2030. Globally, other analysis They point to an increase in that 50% demand by 2027 and up to 165% by 2030. Beyond the needs of the data centers, it is wait An increase of 32% in the world demand for natural gas by 2050, being Africa and Asia the main driving regions of this growing demand due to electrification and industrialization needs. These estimates can go to the fret if a Unexpected increase in renewables Thanks to new technologies or more efficient solutionss, or if the panorama of the data centers changes, but what is evident is that the Camino to decarbonization You will have to live with natural gas. In Xataka | If Europe is beating solar energy records this summer, why has the price of light shot?

The countries with the greatest oil reserves, exposed in this graphic with a sad protagonist: Venezuela

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Humanity is still tied to oil. Although the rise of renewable energies He pointed to one revolutionrecently we have seen that, when things get ugly and We need energy peaksone has to Pull fossil fuels again. The oil companies themselves who got into the renewable car They unchecked a few months agoand that is why it is interesting to know What countries have that oil. And it is something that is illustrated perfectly in this graph. The rich. Prepared by Visual Capitalist With data from the EIAin it the production is not shown, but the reserves. They are two very different things and will make sense immediately. Before that, Venezuela’s reserves are imposing, with 303,000 million certified barrels. Secondly, Saudi Arabia with 267,000 million and, in third place, an Iran in which oil has been the protagonist in recent weeks due to the confrontation with Israel. A lot of distance from Venezuela we have Canada, Iraq, Eau, Kuwait, Russia, the United States or Libya. And, of these last names, the two American countries are those that are separated in the graph because they are not part of the OPEC. OPEC+ and the monopoly. In 1960, five heavy pesos on that list (Venezuela, Iran, Kuwait, Saudi IRK and Rabia formed the organization of oil export countries, OPEC. Its objective was to coordinate and unify oil policies to maintain stable prices, ensure supply and, above all, protect your interests. Over time other countries were added, forming the well -known OPEC+ (which has its own internal cohesion problems. Together, member countries concentrate about 80% of global oil reserves, but although Venezuela has imposing reserves, its production does not go to par due to political blockages and limitations. At its peak, they produced three million barrels per day. Today they are the twenty -first producing country with 770,000 barrels per day, behind countries with much lower reserves. One of the wells that China is operating China wants to sign up for the list. At the top, the United States, Saudi Russia and Arabia lead the ranking with 8-12 million barrels per day, but although it does not appear in the graph, there is a country that we should take into account: China. Currently, the Asian giant is the Greater World Oil Importerbut in recent years it has increased significantly Its internal production. Thanks to pharaonic works that include some of the deepest wells carried out by humanityin March of this year they got a record of 4.6 million barrels per day. It was the highest point in the history of the country and, although inequality was very high between production and import, apart from continuing excavating they have been made with record reserves in recent years. It is calculated that They tell With more than 1,180 million stored barrels that would shield them, for a while, of any cutting in the supply. The United States, for example, also has a reserve to respond to crises and the sources vary, but the updated figures point to about 400 million barrels. Pure and hard strategy. Beyond the obvious importance of oil on the economy of a producing country, we have the Strategic Facet. As oil continues moving the worldhaving large reservations allows countries to exercise their influence on international politics. As? Coordinating production to influence prices and economyFor example. And we have also seen how oil has been a protagonist agent in armed conflicts. The invasion of Iraq, for example, or the war between Iran and Israel that, without affecting the flow of crude oil, already caused that The market will panic. Images | Visual Capitalist, CNPC In Xataka | The oil market faces a triple coup and IEA is clear why: Iran, Opep+ and electric vehicles

Xiaomi was not enough to destroy the reserves of his electric Berlina. Now we know that, too, he is the king of resale

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Xiaomi is achieving the unthinkable with his electric car: compete with the main ones with the great manufacturers of the sector with vehicles that have just a year of life. He Su7 razed reservationshe Yu7 He is doing even better and, in case this success in sales was not enough. But the Electric Berlina He is not demonstrating his muscle only in reserves and sales. He is showing it a posteriori. The data. Xiaomi cars preserve almost 90% of their resale value. Next to nothing. According to the last report of China Automobile Dealers Association (each) in which, among others, the resale value of the main electric cars in the market is published after a year, the undisputed leader is the Xiaomi Su7. The company’s electrical bellina retains up to 88.91% in its resale value, followed by the Aito M9 with 84.45% and a Li Mega (Li Auto) that collapses to 79.58%. What about Tesla. The Tesla Model x and Model 3 They occupy the fourth and fifth position, with 77.81% and 76.04%, respectively. The best selling SUV of China does not run the same fate: the Tesla Model and. The Electric de Tesla occupies the 11th position on the list, lowering to 71.28%. Below, Byd and Xpeng models. Because. There are several key points for the Xiaomi Su7 to become an object of worship even after a year of use. Long delivery times and limited calendar Clear attack focus not only for Model 3, but more premium models In just one year, he has managed to offer a feeling of quality and confidence to the Chinese consumer The initial success was such that There were those who were reversing the used car A for Tesla. The Xiaomi Su7 has already achieved Overcome Sales to its main rival: The Tesla Model 3. A first model that reaped successes and opened an even bigger door: that of going to each of the Model and with the Yu7. Data on resale value can further push interest in an Xiaomi that aims to take the market with Your ecosystem productsin which the car plays a central role. It’s just the beginning. Xiaomi’s rivals should not worry only about SU7 and Yu7: the worrying thing is all that is to come. The company works to create its own chipshe is demonstrating engineering knowledge superior to those of their rivalsand just throw the doubt when it will end up arriving in Europe to take part in the cake. Image | Xiaomi In Xataka | Everything blew in favor of Xiaomi with its first electric car. Until his clients began to see the qualities of SU7

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