The dramatic changes in the energy markets are now being eyed with suspicion by European governments, because dependence on Russian oil and gas supplies may mean considerable expenditure on a replacement strategy in the future. Even at the beginning of the COVID pandemic, the oil price fell below USD 35 - in the days since the Russian aggression, prices have been reported to exceed USD 130. By thinking about embargoes, theoretically 11% of the world's energy supplies fall under the table. Fortunately, it is not like that, because India and China are happy about the Russian exports at dumping prices and thus relieve the global markets somewhat. North America is seizing the opportunity and is on the rise again with fracking, as even oil fields with production costs beyond the CAD 60 mark are once again profitable. The Canadian Saturn Oil + Gas from Saskatchewan has undergone a complete transformation in the last two years, and today they are stronger than ever in the market. The company delivered approximately 7,500 barrels of oil equivalent (boe) per day in Q1 2022, this is an improvement of over 3,000% over the same period in 2021. The current share price development has not yet reflected the special development of Saturn Oil + Gas, because in addition to recent quarterly figures, there is now also an increase in guidance.
Varta puts a difficult quarter behind it. The battery expert continues to suffer from weak demand for the otherwise fast-growing lithium-ion button cells. Although growth in energy storage systems and interest in conventional household batteries remain high, this cannot currently compensate for the decline in small rechargeable button cells. The sales from the e-mobility sector that the stock market is eagerly awaiting are still a long way off. Consequently, confidence is fading and investors are becoming much more cautious. A poor chart performance and the current crisis in growth stocks are not helping either. More operational momentum is needed in the course of the year. Here is an update from Ellwangen.
The Ukraine crisis shows the vulnerability of European energy policy. Continuing as before not only jeopardizes supply but also political stability in Europe because a permanent doubling of energy prices would put an extreme strain on purchasing power and future growth. The sooner the EU switches to renewables, the sooner the community of nations will become more independent and the more it will gain control over its own energy system. The energy renewal plan recently presented by the EU Commission, called "REPowerEU," is a bold initiative. With REPowerEU, the climate policy gains another crucial justification: it is no longer only necessary to mitigate the serious consequences of global warming, such as droughts, floods, social conflicts and migration in emerging economies. It is now also clear that a consistent climate policy will be part of the coming peace policy.
Last year, the leading media services provider for the commodities industry completed its transformation into a B2B digital media company, distributing high-quality content to a rapidly growing global audience through its XaaS model. Although the live events division slipped away due to the Corona pandemic, the Australians successfully navigated the period marked by COVID-19, and the Company made significant strides toward growth and profitability. The Future of Mining Australia event has now heralded a return to physical events, enabling Aspermont to generate exceptional returns. The figures for the second quarter clearly show the enormous potential for the future.
The conditions for a transformation of the energy industry could not be better. With the outbreak of war in Ukraine and the declared sanctions, the switch from fossil fuels such as oil and gas to renewable energies is to be accelerated significantly once again in order to reduce dependence on Russia. Green hydrogen is seen as the key to achieving climate targets and is becoming increasingly competitive due to the sharp rise in gasoline prices. In the long term, market leader Plug Power should benefit from its green hydrogen ecosystem. Despite this, the chart is severely battered and a major correction is imminent.
Last year went well for Bayer AG, with a consolidated net income of EUR 1 billion. In 2020, Bayer had posted a loss of EUR 10.5 billion. This was largely due to the formation of reserves for the Monsanto litigation. The Group also has to forfeit the loss of exclusivity rights to two of its most profitable pharmaceutical products. However, the seed business is picking up, as is the demand for pesticides. Thanks to its CropScience, Pharmaceuticals and Consumer Health divisions, Bayer has three mainstays. Back in the black, the Leverkusen-based company faces its next challenge: potential crisis effects from the Ukraine war and its consequences on the global economy have not yet been priced in.
Since the beginning of the Russia-Ukraine conflict, oil and gas prices have been moving very strongly upwards. Currently, Brent and WTI spot prices are hovering in a narrow band of USD 95 to 112 per barrel. That makes it very difficult for large energy consumers such as industry or public utilities to make their price calculations over several months. Of course, the underlying trend in prices continues to be upward, as inflation now affects all types of goods. There are currently high spirits at the Canadian oil producer Saturn Oil & Gas because the financial transformation of the last few months has been completed, and there is now a resource estimate that beats all expectations. An update.
The Ukraine crisis and its humanitarian catastrophe have shown the Western industrial nations that a singular dependence on fossil raw materials can become a serious supply threat in the event of a conflict. Economic weapons are used as leverage in today's warfare; sanctions are followed by supply bottlenecks and supply shortages. Political decision-makers now have these points clearly on the table. All the more reason for industry and consumers to join forces: alternative energies must be put on the table even sooner than expected. Now, Europe in particular must show that an economic union can also consistently pursue common paths to crisis management. Varta AG represents the German art of engineering and can make a big splash with its innovative approaches to energy technology. An update from Ellwangen.
Last year, fertilizer producer Kali + Salz already benefited from increased demand from farmers and sharply rising prices for potash, one of the most important mineral fertilizers for plant cultivation. Following Russia's war of aggression and the sanctions imposed on companies such as Uralkali and Belaruskali, which account for around one-third of production among themselves, supply is once again being minimized. As a result, the base price is rising to its highest level in ten years and is only just off its all-time highs of 2008. By focusing on its core business with potash and magnesium products, the MDAX company could thus benefit disproportionately in the future.
For wallstreet:online AG, the past fiscal year brought new records despite a slowdown in the boom of general stock trading. Thus, almost all issued group targets were surpassed. In terms of assets under management, the Company also rose to become by far the largest neobroker operator in Germany with more than EUR 8.8 billion. The internal targets for the current year 2022 are also ambitious. A new era is now to begin with Smartbroker 2.0. After the recent turbulence in the wake of the Ukraine conflict and the correction of the overall market, the wallstreet:online share lost significantly. This results in attractive long-term entry opportunities.