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Canada, The Unexpected Winner in the Global Oil Boom
Canada, The Unexpected Winner in the Global Oil Boom The Trans Mountain Expansion Project, now finally completed and operational after years of delays, is changing the fortunes of the oil sands. Canada’s oil sands producers have started ramping up production last year in anticipation of the start-up of exports through the TMX pipeline. The production […]
Kazakhstan’s Oil Flows to Germany Threatened as Russia Demands Transit Fees
Kazakhstan’s Oil Flows to Germany Threatened as Russia Demands Transit Fees Russian pipeline operator Transneft has warned Kazakhstan’s oil companies that ship crude to Germany via Transneft’s Druzhba pipeline that the customers of the Kazakh firms have until June to pay for metering services or risk a halt to supplies, trading sources told Reuters on Thursday. In […]
Russia Is Struggling to Repair Refineries Due to Sanctions
Russia Is Struggling to Repair Refineries Due to Sanctions Due to the sanctions, Russia cannot access spare parts from Western engineering companies that have provided refinery equipment in the past, leaving Russian refiners struggling to repair damaged units, multiple industry sources in Russia have told Reuters. Western firms including America’s UOP and Swiss ABB have supplied […]
China’s Coal Production Hit a New Record High in 2023
China’s Coal Production Hit a New Record High in 2023 Higher power demand and efforts to boost energy security pushed China’s coal production to a record-high level in 2023, according to official statistics data published on Wednesday. Chinese coal output rose by 2.9% year-over-year to 4.66 billion metric tons in 2023, per data from China’s […]
China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023
China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023 In the first half of 2023, China imported 2.13 million barrels per day of Russian crude oil, making Russia its single biggest supplier. In June, China once again imported record-breaking levels of Russian crude, a 44% increase compared to the same […]
UK Looks To Boost Energy Security With Small Modular Nuclear Reactors
UK Looks To Boost Energy Security With Small Modular Nuclear Reactors The UK has launched a competition for small modular reactor technology and created a new nuclear body. The focus on small nuclear reactors is part of the country’s efforts to produce more zero-emission energy domestically. As well as backing SMRs, the UK remains committed […]
European Natural Gas Prices Surge Ahead Of Cold Spell
European Natural Gas Prices Surge Ahead Of Cold Spell The Dutch TTF benchmark price jumped by 11% on Tuesday morning, recovering from a 17% price slump last week. An unplanned outage at a Norwegian gas processing plan and short covering combined to add upward pressure to gas prices. Next week, temperatures could be lower than […]
China’s Oil Demand Is Set To Hit A Record High In 2023
China’s Oil Demand Is Set To Hit A Record High In 2023 China’s oil demand is expected to hit a record high 16 million bpd this year, an increase of 800,000 bpd. Having lifted its zero-Covid policy, China is currently suffering through an exit wave of Covid but should recover in the second quarter. China […]
Texas Refineries Could Take Two Weeks To Fully Restore Operations After Storm
Texas Refineries Could Take Two Weeks To Fully Restore Operations After Storm Most refineries on the U.S. Gulf Coast have begun procedures to restart operations that were disrupted by the massive winter storm late last week, but a full return to normal output of motor fuels could take up to two weeks for some facilities. […]
Europe’s Energy Crisis Is Just Getting Started
Europe’s Energy Crisis Is Just Getting Started While Europe managed to fill its gas storage ahead of winter this year, it will have to import huge amounts of LNG in a competitive market to survive next winter. The next 12 to 24 months will be critical in establishing whether Europe can stave off a long-term […]
The Diesel Crunch Is Finally Causing Demand Destruction
The Diesel Crunch Is Finally Causing Demand Destruction Diesel inventories slumped to their lowest level for the time of the year since 1951. signs have emerged that weaker demand in the past weeks may have slowly started to rebuild diesel inventories. Refiners are processing more crude oil to capture the still high refining margins. High […]
Can Europe Avoid A Worst-Case Energy Scenario This Winter?
Can Europe Avoid A Worst-Case Energy Scenario This Winter? European countries have done most things they feasibly could to fill gas storage units. Overall in the EU, gas storage was 92.37% full as of October 17. Weather will be the determining factor in how fast gas in storage would be depleted, so Europe hopes for […]
Europe’s Fuel Supply Fears Worsen As Major Refinery Malfunctions
Europe’s Fuel Supply Fears Worsen As Major Refinery Malfunctions The biggest refinery in Europe, Shell’s Pernis in the Netherlands, suffered a malfunction late on Wednesday, which could exacerbate an already worsening fuel supply situation in northwest Europe due to the strikes in France. Shell Pernis said late on Wednesday that “Due to a malfunction on one of […]
Angry Customers Demand Explanation As German Energy Bills Soar
Angry Customers Demand Explanation As German Energy Bills Soar Utilities in Germany have had to handle a surge in customer service calls in recent weeks from clients angry or desperate about their sky-rocketing energy bills, Reuters reports. The biggest utility, E.ON, has ramped up its capacity to handle calls from consumers who are shocked to find […]
Finland Braces For Rolling Blackouts This Winter
Finland Braces For Rolling Blackouts This Winter Finnish grid operator warns of rolling blackouts this winter. Gazprom stopped in May all gas deliveries to Finland. Norway is considering limiting its electricity exports. Finland should be prepared for possible power outages this winter in case of shortfalls in electricity supply, the Finnish grid operator said on Tuesday, in […]
