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Bullboard - Stock Discussion Forum Nuvista Energy Ltd T.NVA

Alternate Symbol(s):  NUVSF

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the... see more

TSX:NVA - Post Discussion

Nuvista Energy Ltd > Over 95% chance of El Nino conditions from January - March 2
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Post by Carjack on Sep 14, 2023 11:08am

Over 95% chance of El Nino conditions from January - March 2

There is a more than 95% chance that the El Nio weather pattern will continue through the Northern Hemisphere winter from January - March 2024, a U.S. government forecaster said on Thursday, bringing more extreme conditions.

"In August, sea surface temperatures were above average across the equatorial Pacific ocean, with strengthening in the central and east-central Pacific," the Climate Prediction Center (CPC) said.

El Nino is a warming of ocean surface temperatures in the eastern and central Pacific, and can provoke extreme weather phenomena from wildfires to tropical cyclones and prolonged droughts.

The naturally occurring phenomenon is already spurring calamities across the globe, with the stakes seen higher for emerging markets more exposed to swings in food and energy prices.

"As El Nino strengthens to strong status, there is a good likelihood it will have an impact on the upcoming growing season for the southern hemisphere crop production areas," said Chris Hyde, a meteorologist at space-tech company Maxar.

"This includes crops in South Africa, Southeast Asia, Australia and Brazil where the weather is typically drier and warmer than normal."

On Tuesday, Australia's weather bureau said that El Nino indicators had strengthened and the weather event would likely develop between September and November, bringing hotter and drier conditions to Australia.

"Despite nearly the same ensemble mean amplitude as last month, the shorter forecast horizon means that the odds of at least a 'strong' El Nio have increased to 71%," CPC said.

The World Meteorological Organization in July warned that temperatures are expected to soar further across large parts of the world after El Nino emerged in the tropical Pacific for the first time in seven years.

El Nino also threatened global rice supplies, amid a ban on shipments of a crucial variety of the staple from top exporter India, as well as other commodities such as coffee, palm oil, sugar, wheat and chocolate from southeast Asia, Australia and Africa.

 
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