OIL: CPC Pumping Station Repairs to Take Two Months
Feb-26 09:12
–Repair works at the recently damaged CPC pumping station will take two months to repair the operator said via a statement on Wednesday – in line with prior estimates.
- Between Jan. 1 and Feb. 23, the CPC terminal on the Black Sea coast loaded 9.8m tons of CPC Blend oil it added - around 1.33mn bpd.
- The Ukrainian attack targeted the Kropotkinskaya station in Russia's southern Kuban region, which is a critical part of the pipeline system that handled about 1.27 mn bpd of oil last year.
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EQUITIES: Deepseek - Why is This App Undermining Markets?
Jan-27 08:59
- Deepseek is making a strong showing in Appstore download rankings this weekend - tracking over 1mln downloads on Google's Play store and over 3k reviews. No challenge (yet) for ChatGPT's market-leading position: >100mln downloads and 7mln reviews, but the momentum is clearly concerning markets.
- Why is Deepseek different? Deepseek is free, unlimited and open source - dragging in realtime information from the Internet to produce results. This contrasts with ChatGPT, which has a more restricted offering even in their premium paid-for service.
- Why does this matter? Deepseek's open-source, free-to-play approach twinned with highly regarded efficiency and accuracy undermines not only the revenue-generating capacity of models produced by OpenAI, Alphabet, Meta and others - but also the significant levels of investment in AI from US firms over the past five years. It also shows the ability of Chinese firms to skirt chip sanctions targeted at limiting their AI capacity.
- Pre-market US equity trade opens imminently - worth watching the likes of NVIDIA for the immediate impact. Similarly Microsoft and Meta shares will be a focus having invested capex of over $65bln to AI efforts in 2025.
