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24 Mar 2023
Preliminary February Norwegian Oil, Gas Production Seen Below Forecast: NPD
Preliminary oil and gas production figures from the Norwegian Continental Shelf for February 2023 fell below that month's forecasted output and January's total, according to data from the Norwegian Petroleum Directorate (NPD). Total production of oil, condensates and Natural Gas…
24 Mar 2023
NACW 2023: Washington State Moving Quickly on Linkage Timeline: DEQ Official
ANAHEIM, Calif. - Washington state is preparing for a potential carbon market linkage with California and the Western Climate Initiative, an official with the state's Department of Ecology said Wednesday at the North American Carbon World 2023 conference here. Luke…
24 Mar 2023
UPDATE: Delek US Announces Leadership Shakeup, COO O'Malley to Leave Company
Veteran oil trader and energy company executive Todd O'Malley has resigned as executive vice president and chief operating officer at Delek US, the refiner and fuel retailer said Friday. Delek also said Joseph Israel, former president and chief executive with…
23 Mar 2023
Air Liquide to Build Ammonia Cracking Pilot Plant at Port of Antwerp by 2024
French industrial gas supplier Air Liquide has announced plans to build an industrial-scale ammonia cracking pilot plant in the port of Antwerp, Belgium, to facilitate hydrogen imports, it said in a news release on Thursday. The pilot plant, expected to…
23 Mar 2023
Carbon Compliance Markets Revenue Hits Record $63 Billion in 2022: Report
More than two dozen global emissions trading systems (ETS) operating in 2022 generated a record $63 billion in revenue, according to a report from the International Carbon Action Partnership Wednesday. This multibillion dollar revenue from the auctioning of carbon allowances…
23 Mar 2023
Ampol, ENEOS Sign MoU to Study Biofuels Production in Queensland, Australia
Australian refiner Ampol Ltd. and Japan's largest refiner ENEOS Corp. on Thursday signed a memorandum of understanding (MoU) to explore the production of advanced biofuels at the Ampol-operated 109,000 barrels per day Lytton refinery in the Australian state of Queensland,…
22 Mar 2023
Malaysia's Bursa Carbon Exchange Targets Online Trading Platform by Q3/4
Malaysia's Bursa Carbon Exchange (BCX) is targeting its online trading platform for both spot trading and off-market transactions to go live by Q3/4 this year, a spokesperson told OPIS in an email response to queries on Mar. 21. The exchange…
22 Mar 2023
Repsol Steps up Output at Spanish Petchem Unit After Force Majeure: Sources
Spanish energy group Repsol is set to increase production rates at its propylene oxide/styrene monomer unit in Tarragona, northern Spain, market sources told OPIS Wednesday, after declaring force majeure on March 13. The company declared force majeure on its styrene…
22 Mar 2023
BP Set to Slash 0.6 Million b/d from Total Oil Production by 2030: Report
British oil major BP will seek to reduce total oil production to around 2 million b/d in 2030 from 2.6 million b/d in 2019, according to its 2022 Sustainability Report. BP invested just $634 million in its energy transition goals…
22 Mar 2023
E.U., U.K. Retail Gasoline and Diesel Prices Fall in Latest Week: OPIS NAVX
Gasoline and diesel pump prices in France, Spain, Italy, Germany and the U.K. fell during the latest week from the previous seven days, according to OPIS NAVX's latest data for all five markets. Retail transport fuels for all five markets…
22 Mar 2023
Bioenergy Australia Urges Government to Fast Track SAF Adoption
Biofuels advocate Bioenergy Australia in a submission last Friday urged the Australian government to implement a number of policies to support and accelerate the creation of a domestic sustainable aviation fuel (SAF) industry to maximize the aviation sector's contribution to…
21 Mar 2023
Three Years On, Gasoline Sales Still Struggle to Reach Pre-Pandemic Levels
With the country marking the three-year anniversary of the start of the Covid-19 pandemic, gasoline demand in the U.S. continues to be far behind pre-pandemic levels and appears unlikely to rise above those levels anytime soon. The most recent OPIS…
21 Mar 2023
Pennsylvania May Soon See an LCFS Program
Pennsylvania may be added to the list of states that are introducing legislation that establishes a Low Carbon Fuel Standard program. Republican State Senators Gene Yaw and Scott Martin in a memorandum to the State Senate said they intend to…
21 Mar 2023
EPA Hearing on Midwest E15 Proposal Fraught With Timing Concerns
Proponents for the ethanol industry told the Environmental Protection Agency in a Tuesday hearing on a petition by several Midwest governors to offer summertime E15 access in their states that the agency should remedy its foot-dragging on the proposal by…
21 Mar 2023
Hydrogen Producer Lhyfe Buys 49% Stake in Renewable Developer Flexens
French hydrogen producer Lhyfe has bought a 49% stake in Finnish company Flexens, a developer of renewable and green hydrogen and Power-to-X projects, the former said in a news release on Tuesday. The value of the acquisition was not disclosed…
21 Mar 2023
French Road Diesel Consumption Fell 7.7% on Year in February: UFIP
Demand for road diesel in France dropped by 7.7% in February compared with the same month a year earlier, outpacing a 5.2% drop in overall road fuel consumption. UFIP, the country's energy association, said in a news release Monday that…
20 Mar 2023
Fleetcor Agrees to Refresh Board, Undergo Strategic Review
Fleetcor Technologies Inc., a fleet card and global payments firm, announced it has entered an agreement with long-term shareholder and technology development firm D.E. Shaw Group to "refresh" its board and form a committee that will consider the separation of…
20 Mar 2023
US Exports of Petroleum Products Hit Record High in 2022, EIA Says
U.S. exports of petroleum products rose 7% last year, setting a new record, according to data released by the U.S. Energy Information Administration on Monday. Petroleum product exports averaged 5.97 million b/d during the year, an increase of 405,000 b/d…
20 Mar 2023
EU Lawmakers Urged to Vote on Battery Recharging, Hydrogen Refueling Targets
Industry association Hydrogen Europe and 120 organizations have written an open letter to European lawmakers, urging them to reach an agreement on the Alternative Fuels Infrastructure Regulation (AFIR), according to a news release on Monday. The signatories expressed concern about…
20 Mar 2023
Speculators Slash Net Length in Brent Futures and Options: ICE Data
Bearishness in oil markets resulted in money managers liquidating bullish bets and piling on short bets in Brent futures and options last week, according to the latest Intercontinental Exchange (ICE) data and market sources, as concerns grew about the health…
20 Mar 2023
Neste Sells 750 mt of SAF to Finnair
Finnish renewable fuel producer Neste said Monday that it has sold 750 metric tons of sustainable aviation fuel (SAF) to Finnair. Neste said that this is Finnair's single largest batch of SAF purchased to date, and will be delivered to…
20 Mar 2023
Japan's ENEOS in Joint Study on Petroleum Product Emissions Calculation
ENEOS Corp., Japan's largest refiner, said on Friday it has launched a joint study with WasteBox Co. and NTT Data Corp. to calculate per-product carbon footprints for its petroleum products and to develop an "entity-level" greenhouse gas (GHG) management system,…
17 Mar 2023
CORRECTION: Russia's Sibur Says Domestic LPG Market Swamped Amid Falling Exports: TASS
(Removes phrase "following the invasion of Ukraine" incorrectly attributed to Sibur Executive Director Oleg Makarov in first paragraph) Russia is facing a surplus of liquefied petroleum gas (LPG) for the domestic market due to reduced export demand, Executive Director at…
17 Mar 2023
FuelsEurope Asks EC to Include Alternative Road Fuels in Net-Zero Act
FuelsEurope has rebuked the European Commission for limiting the role of sustainable alternative fuels included in Thursday's Net-Zero Industry Act to just those used in the maritime and aviation sectors. Based in Brussels, the organization, which represents 38 European fuel…
17 Mar 2023
Marubeni Helps Launch Portugal's First Green Hydrogen Injection Project
Japan's Marubeni Corp. said on Friday it has helped launch Portugal's first demonstration project to inject green hydrogen in the natural gas distribution network though its investment in the country's largest gas grid operator, according to a news release. Portugal's…
16 Mar 2023
RIN Generation Dips in February After Record January Volumes: EPA
Renewable Identification Number credit generation in February fell slightly from January's record level, according to EPA data released Thursday. The agency said 1.716 billion credits across all RIN categories were generated last month, down 2.3% from January but still 11.3%…
16 Mar 2023
Pemex CEO Says Mexico to Halt Imports of Transportation Fuel by 2025
Mexico will be able achieve its goal of becoming self-sufficient in fuel production by 2025, when work on two new refinery coking units is finished, Octavio Romero, chief executive officer of state-owned oil company Pemex said Thursday. Romero, who spoke…
16 Mar 2023
EIA Projects US Energy-Related CO2 Emissions Will Decline Through 2050
U.S. energy related CO2 emissions are expected to drop sharply through 2050 on increased electrification, improved equipment efficiency and more renewable power generation, the Energy Information Administration said Thursday. In its Annual Energy Outlook released Thursday, EIA forecast U.S. energy-related…
16 Mar 2023
Shell Cut Carbon Emissions by 30% in 2022 Compared with 2016: Report
U.K. energy major Shell has made a 30% reduction in carbon emissions by the end of 2022 compared with 2016, on a net basis, putting it more than halfway towards a 50% reduction by 2030, according to CEO Wael Sawan…
16 Mar 2023
EU May Consider Ukraine's 'Exceptional Situation' During CBAM Implementation
The European Union may consider assessing whether Ukraine merits particular consideration under the carbon border adjustment mechanism (CBAM) prior to its potential implementation this fall, an EU official told OPIS on Thursday. The EU official, who spoke under condition of…
 

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