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10 Dec 2023
COP28: Integrating Carbon Markets Better than CBAM says Korean Steel Expert
DUBAI - The European Union's carbon border adjustment mechanism (CBAM) will negatively affect exports from South Korea's steel producers, and integrating compliance carbon markets would represent a better alternative, an industry consultant and former POSCO senior executive told OPIS on…
10 Dec 2023
UPDATE: COP28: Weekend News Roundup
(Updates with reference to text confirming Azerbaijan as COP29 host.) DUBAI - Here are a few highlights from the weekend's events at the COP28 climate summit in Dubai where negotiations are drawing to a close. --Azerbaijan Confirmed As Host of…
10 Dec 2023
COP28: Weekend News Roundup
DUBAI - Here are a few highlights from the weekend's events at the COP28 climate summit in Dubai where negotiations are drawing to a close. --Azerbaijan Confirmed As Host of COP29 Azerbaijan will host next year's climate summit in the…
9 Dec 2023
COP28: Investments in Nature-Based Solutions Need Massive Boost, Says UN
DUBAI - Global investments in nature-based solutions totaled just $200 billion last year, while financial flows to activities directly harming nature were more than 30 times larger, the United Nations Environment Programme said in a report published Saturday. The State…
8 Dec 2023
Buffett/Haslam Dispute Over Pilot Sale Terms Heading to Court in January
Legal action is expected to start next month in the dispute between billionaires Warren Buffett and Jimmy Haslam over the sale of Pilot Travel Centers. The hearing before the Delaware Chancery Court will focus on claims by Haslam and his…
8 Dec 2023
EU Welcomes Proposal to Extend EU-UK Trade Rules on Electric Car Batteries
The European Automobile Manufacturers' Association (ACEA) welcomed a new proposal by the European Commission to seek a three-year extension on rules of origin for batteries under the EU-U.K. Trade and Cooperation Agreement (TCA), according to the auto industry voice, ACEA,…
8 Dec 2023
DOE to Buy Another 3 Million Bbl of Crude for March Delivery to SPR
The Department of Energy on Friday said it is seeking bids for up to 3 million bbl of oil for the Strategic Petroleum Reserve and will take delivery in March. Oil prices have dropped well below the $79/bbl ceiling DOE…
8 Dec 2023
Avance Gas Makes $73 Million Profit on Sale of Two VLGC Newbuilds
Avance Gas Holding has agreed to sell its two remaining 91,000 cubic meter Very Large Gas Carrier (VLGC) dual fuel newbuildings scheduled for delivery next year at a $73 million estimated profit, according to a filing on the Oslo Stock…
8 Dec 2023
COP28: Envision Racing Teams Up With Scientist to Raise Climate Awareness
DUBAI - Envision Racing, the Formula E team that recently unveiled a car made entirely from electronic waste, is partnering with the creator of an iconic indicator that shows how temperatures have risen over nearly two centuries, in order to…
7 Dec 2023
Southern California Average Gasoline Price Falls for 10th Straight Week: AAA
Southern California retail gasoline prices fell for a 10th straight week and are about 30cts above their 2023 lows, the Southern California Auto Club said Thursday in its Weekend Gas Watch. The average price of unleaded gasoline in California as…
7 Dec 2023
California Reformulated Gasoline Production, Inventories Tumble: CEC
Refinery production and stocks of California's boutique gasoline fell sharply last week amid reports of regional refinery issues, California Energy Commission data showed. In its Weekly Fuels Watch report released on Wednesday, the CEC said CARB reformulated gasoline production in…
7 Dec 2023
Chemical Producer Clariant Shuts Loss-Making Bioethanol Plant in Romania
Clariant will shut down its bioethanol production site in Podari, Romania and downsize its biofuels and derivatives operations in Germany, the company said in a news release on Wednesday. Given what was described as "continued losses", Clariant decided against continuing…
7 Dec 2023
Oil Barge Traffic on the Rhine Could Grind to a Halt as Water Levels Rise
Barge sailing along the River Rhine could face disruption and even come to a halt by Dec. 11 because of high water levels forecasted between Kaub in Germay and Basel in Switzerland, according to sources. The Basel and Maxau pegels…
7 Dec 2023
Euronav Orders Third Dual-Fuel Ammonia-Powered VLCC
Belgian oil tanker giant Euronav has ordered a very large crude carrier (VLCC) from the Qingdao Beihai Shipyard in China that can be powered by a dual-fuel diesel and ammonia engine, it said in a news release on Thursday. Euronav…
7 Dec 2023
VLGC Shipowners Expect More LPG Trade, Greater Fleet Inefficiencies in 2024
Very large gas carrier (VLGC) owners are anticipating an increase in liquefied petroleum gas (LPG) trade in 2024, while the ongoing transit restrictions at the Panama Canal are expected to amplify inefficiencies in the VLGC fleet, shipowners have noted in…
7 Dec 2023
COP28: Masdar, EU Partners Agree to Develop Hydrogen Production and Supply
Abu Dhabi Future Energy Company Masdar has signed joint feasibility studies with several partners to accelerate the development of hydrogen production and supply chains within the European continent, the company said in two separate news releases. The first agreement, announced…
6 Dec 2023
ExxonMobil to Boost Spending on Oil and Natural Gas Production Through 2027
ExxonMobil Corp. on Wednesday said higher output in the Permian Basin and Guyana will drive its annual oil and natural gas output over the next four years, adding that it expects to invest more in production assets and exploration through…
6 Dec 2023
COP28: Hydrogen Valleys Mitigate Risk in Final Investment Decisions
Being located in a hydrogen valley is a "de-risking factor" when it comes to pushing newly-announced hydrogen projects over the threshold of final investment decisions (FIDs), Jorgo Chatzimarkakis, CEO of trade association Hydrogen Europe said on Wednesday. Jorgo was speaking…
6 Dec 2023
MAN Energy Solutions Secures Methanol Engine Orders for Three Bulk Carriers
German engine producer MAN Energy Solutions will supply dual-fuel methanol engines for Danish shipping company J. Lauritzen's three newbuild bulk carriers, MAN ES said in a news release on Wednesday. The engine orders were placed with Japan's Tsuneishi Shipbuilding which…
6 Dec 2023
COP28: 30 Countries Pursue Hydrogen Certification to Spur Clean Energy Trade
More than 30 countries have launched an agreement at the COP28 climate summit to work towards mutual recognition of certification schemes for renewable and low-carbon hydrogen, to boost clean hydrogen trade by ensuring different schemes are compatible. Wednesday's agreement covers…
6 Dec 2023
October 2023 Total Construction Spending Up 10.7% from 2022 Level
Total construction spending increased by 0.6% in October to a seasonally adjusted annual rate of $2,027.1 billion and was 10.7% higher compared to the October 2022 rate of $1,830.5 billion, according to the report released on December 1 by the…
6 Dec 2023
COP28: Sodium-Ion Battery Breakthrough Needs Scalability for Auto Industry
DUBAI - The development of a new sodium-ion battery that does not require nickel, cobalt or lithium could be used in energy storage and even the automobile and air transportation industries, the CEO of Swedish battery maker Northvolt told attendees…
6 Dec 2023
Höegh Autoliners, Sumitomo Set to Collaborate on Clean Ammonia Bunkering
Norwegian ocean transporter Höegh Autoliners and Japanese conglomerate Sumitomo Corporation have signed a letter of intent to collaborate on the supply and delivery of renewable ammonia as a bunker fuel at the ports of Singapore and Jacksonville in the U.S.…
6 Dec 2023
Global SAF Production to Triple at 1.5 Million Metric Tons in 2024: IATA
The International Air Transport Association forecast Wednesday that global production of sustainable aviation fuel (SAF) will triple to 1.5 million metric tons next year, accounting for 0.5% of airlines' fuel needs. IATA's outlook for 2024 may largely reflect the commissioning…
6 Dec 2023
Airlines' Fuel Demand to Rise 5% Next Year as Air Traffic Hits New Record
The International Air Transport Association (IATA) forecast Wednesday that airlines will consume 5.3% more jet fuel in 2024, as traffic volumes continue growing - albeit at a slower pace. The airlines industry organization expects fuel consumption from commercial airlines at…
6 Dec 2023
COP28: UN Climate Chief Presses Governments to Reach a Deal at Dubai Summit
DUBAI - The United Nations' climate chief, Simon Stiell, on Wednesday urged governments to "ditch business-as-usual" and be as ambitious as possible in their approach to climate change, as negotiations continued at COP28 on formulating a response to the first…
6 Dec 2023
COP28: Climate Tipping Points Pose Large Threats to Humanity, Warns Report
DUBAI - Climate tipping points have put the planet on a disastrous trajectory that could have catastrophic impacts including a loss of capacity to grow staple crops, a major report warned Wednesday, as deliberations continued at the COP28 summit on…
5 Dec 2023
COP28: US Faces 'Huge' CCS Skills Challenge, Energy Department Official Says
DUBAI - The U.S. faces a "huge challenge" in increasing the number of skilled workers who can undertake a fast-growing list of planned carbon capture storage projects, James Crabtree, the U.S. assistant secretary of energy for fossil energy and carbon…
5 Dec 2023
Mexico's Fuel Tax Revenue Through October Turns Positive After Year-ago Loss
Mexico's revenue from its special tax on fuels, or IEPS, over the first 10 months of the year rose to 183.5 billion pesos ($10.5 billion) from a loss of 88.5 billion pesos over the same period of 2022, the country's…
5 Dec 2023
UK to Miss Emission Reduction Goals, Climate Change Committee Analysis Shows
The U.K. is set to miss its emission reduction target by a 2030 deadline, according to a Friends of the Earth news release Tuesday, which cited an analysis of the government's climate plans by its advisers, the Climate Change Committee…
 

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Forward Ethylene Markets: A Price-Protection Primer and Focus on a High-Exposure Market

A comprehensive guide for anyone looking to understand the intricacies of the ethylene and PVC markets, offering both historical context and actionable insights for risk management.

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