The Biden administration plans to ease sanctions on Venezuelan oil to allow more of the country's crude to reach Europe.
The U.S. will allow European companies still operating in Venezuela to immediately transfer more oil to the continent, while allowing Chevron to negotiate a resumption of operations in Venezuela, according to people familiar with the matter. Venezuela's OPPOSITION, which is backed by the United States, is understood to favor the move. Tight global oil supplies have sent crude and fuel costs soaring, threatening to add to already high inflation. Increasing Venezuelan crude exports would help ease supply constraints while also helping to reduce Europe's dependence on Russian energy.
The US has sought to encourage talks between the Venezuelan government and the US-backed opposition to open the way to free and fair elections by extending a limited license held by Chevron to allow the oil company to maintain its operations in Venezuela and negotiate future operations.
The United States reportedly did not extend a permit to Allow Chevron to drill and sell Venezuelan crude, as the company had hoped.
The license extension will allow Chevron to negotiate with State-run Petroleos de Venezuela SA, with which it has a joint venture. Previously, the company could not directly negotiate with any officials sanctioned by the United States. Chevron has been lobbying the United States to allow it to drill for Venezuelan crude and sell it on world markets to help lower energy prices amid the Russia-Ukraine war.
Affected by the ever-changing international situation, the supply and prices of many commodities like the Ti6Al4V alloy are still very uncertain.
What is Titanium Alloy?
Titanium alloy Ti6Al4V is a medium-strength α-β type two-phase titanium alloy containing 6% α-stabilizing element AI and 4% β-stabilizing element V. This alloy has excellent comprehensive properties and has obtained the most extensive applications in the aviation and aerospace industries.
The main properties and uses
Ti6Al4V titanium alloy is heated below 430 ℃ for a long time to form a very thin and protective oxide film. As the heating temperature increases, the oxide film thickens and its protection becomes poor. After the alloy was heated at 700 °C for 2 h, the oxide film thickness reached 25 μrn. Heating at temperatures above 800°C forms a sparse oxide layer. After heating at 1000 °C for 1 h, the thickness of the oxide layer reached 0.65 mm.
Ti6Al4V alloy can be welded by argon arc welding, spot welding, brazing, electron beam welding and plasma welding. The strength of the welded joint is basically the same as that of the base metal.
When Ti6Al4V titanium alloy parts are in contact with aluminum alloy and structural steel parts, especially under certain corrosive medium conditions, aluminum alloy and structural steel parts will suffer accelerated corrosion and damage as the anode of the contact couple due to the negative electrode potential. Therefore, between TC4 titanium alloy parts and aluminum alloy or structural steel parts, protective measures such as padding and anti-corrosion tape should be taken. TC4 alloy parts are strictly prohibited from contact with parts or tools of lead, zinc, cadmium, tin, silver, bismuth and other metals.
Before vacuum annealing, the oxide skin and oxygen-rich layer on the surface of the parts should be removed, and the oil should be carefully removed before entering the furnace. When vacuum annealing parts with complex shapes, fixtures must be used to reduce the deformation of parts. Into the furnace parts are preferably filled with pre-degassed titanium oxide-free chips to prevent oxidation of the parts.
Ti6Al4V titanium alloy is now widely used in the manufacture of aero-engine fans and compressor discs and blades, as well as various load-bearing beams, frames, joints and fasteners in aircraft structures.
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Since February, gold has enjoyed a smooth upward run on the back of surging US inflation and the brewing of war. While expectations of rate rises have also risen in tandem over this period, gold had been largely pre-priced and the underlying driver of tightening expectations had come from inflation continuing to rise to record highs. The risk aversion caused by the continued tension in the war also provided an important short-term support for gold. This will have a certain impact on the price of the Ti6Al4V alloy and the market of the Ti6Al4V alloy.
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