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6 Jun 2023
Biofuels Key to Decarbonize Shipping Even as Supply is Limited: DNV
The use of biofuels could facilitate decarbonization in the shipping industry, but limited production capacity could impact short-term supply, classification society DNV said in its newest white paper "Biofuels in Shipping" published on Monday. Current global production capacity of sustainable…
5 Jun 2023
Debt Deal, Not Saudi Production Cut, Could Impact SPR Refill Plans: Verleger
The U.S. released 1.8 million bbl of crude from the Strategic Petroleum Reserve last week, sending supplies to a new nearly 40-year low just as the announcement of a new production cut by Saudi Arabia raises questions about Biden administration…
5 Jun 2023
Net Length Bullish in Brent Futures and Options, Bearish in Gasoil: ICE Data
Speculators continued to build net length for a second week running in Brent crude futures and options last week, rising to a five-week high, while movements in Gasoil futures and options were overall bearish, according to the latest Intercontinental Exchange…
2 Jun 2023
US Rig Count Falls Below 700 For First Time in More Than a Year
The number of oil and natural gas rigs operating in the U.S. fell below 700 for the first time in more than a year this week, according to the latest Baker Hughes data. The number of operating rigs dropped by…
2 Jun 2023
ExxonMobil CEO Says Technology Could Double Company's Shale Production
ExxonMobil Inc. Chief Executive Darren Woods said he expects new technologies will allow the company to double its oil and natural gas production from U.S. shale plays, saying the company is producing only a fraction of available shale resources. In…
2 Jun 2023
U.K. ETS Emissions Up 2.5% to 110.6 Million Tons in 2022
A total of 110.6 million metric tons of carbon dioxide emissions were registered in the United Kingdom's Emissions Trading System (U.K. ETS) in 2022, with rising aviation emissions causing a 2.5% overall increase from 2021, according to a government report…
2 Jun 2023
Nordic Consortium Starts Large-Scale Baltic Hydrogen Valley Project
Finnish innovation cluster CLIC Innovation and 40 Nordic industrial partners have started the construction of the BalticseaH2 project, the first large-scale, cross-border hydrogen valley around the Baltic Sea, CLIC said in a news release on Thursday. The goal of the…
1 Jun 2023
European Carbon Prices Fall Below €80/mt as Natural Gas Contracts Slide
The benchmark ICE December 2023 European Union allowances (EUAs) futures contract settled at €78.72 a metric ton ($84.57/mt) Thursday, its lowest level since mid-January, as natural gas prices continue to fall in Europe. EU carbon prices are at their lowest…
1 Jun 2023
IEA Projects Sharp Rise in Global Renewable Energy Capacity This Year
Global additions of renewable power capacity are expected to jump sharply this year as growing policy momentum, higher fossil fuel prices and energy security concerns drive deployment of solar and wind power, the International Energy Agency said on Thursday. The…
1 Jun 2023
Ireland and Germany to Sign Cooperation Agreement on Green Hydrogen
The Irish and German governments have signed a Joined Declaration of Intent on cooperation in the field of renewable based green hydrogen, both parties announced in a news release on Wednesday. The agreement between the Irish Department of the Environment,…
31 May 2023
REDD+ Project Defies Weakening Carbon Market Via Community-Aided Co-Benefits
Despite criticisms of REDD+ projects and a decline in related carbon credit prices this year, offsets issued by the Kasigau Corridor REDD+ project in Kenya have consistently commanded a price premium in the voluntary carbon market. The project, which is…
31 May 2023
Plug Power Plans to Build 3 Green Hydrogen Plants totaling 2.2 GW in Finland
U.S. based Plug Power, a major provider of turnkey green hydrogen solutions, announced plans to develop three green hydrogen production plants in Finland by the end of the decade with a combined green hydrogen production capacity of 850 metric tons/day…
30 May 2023
Mexican Energy Regulator CRE Approves 61 Retail Fuel Permits, Rejects Three
Mexican energy regulator CRE on Tuesday approved 61 retail permits and denied three, bringing to 145 the number of retail permits the agency has approved this year. The regulator denied retail permit applications submitted by Gasolinera los Espirales, Zaedma and…
30 May 2023
Debt Deal Includes Language to Speed Completion of Mountain Valley Pipeline
The stalled Mountain Valley natural gas pipeline would get all needed permits and would be exempt from legal challenges under language included in a debt ceiling deal struck this weekend by President Joe Biden and U.S. House Speaker Kevin McCarthy.…
30 May 2023
Russia Primorsk June Diesel Exports Jump to 1.4 Million MT
Monthly scheduled ultra-low-sulfur diesel (ULSD) exports from the Russian Baltic port of Primorsk in June are expected to climb by roughly 20% compared to May on a daily basis, as refineries return from seasonal maintenance, according to port agent and…
30 May 2023
Net Length in Brent Crude Futures and Options Begins to Recover: ICE
Brent crude futures and options speculators piled on long positions in the third week of May, according to the latest Intercontinental Exchange (ICE) data and market sources, resulting in the biggest week-on-week increase in net length for several weeks. The…
30 May 2023
JOGMEC, Canadian Province Extend MoU to Include Hydrogen, Ammonia, CCUS
The Japan Organization for Metals and Energy Security (JOGMEC) has signed an extension of the Memorandum of Understanding (MoU) on Mutual Cooperation with the Government of the Canadian province of British Columbia (B.C.) to cooperate in hydrogen, ammonia and carbon…
26 May 2023
US Rig Count Falls for a Fourth Straight Week: Baker Hughes Report
U.S. oil field activity remained under pressure in the week ended Friday as the number of active drilling rigs fell for a fourth straight week, according to the Baker Hughes rig count. The decline came even as oil prices were…
26 May 2023
Shareholders Reject Investor's Bid to Replace Seven & I Board Members
Shareholders of 7-Eleven parent company Seven & I Holdings Co. on Thursday rejected an investor's bid to install four of its candidates on the company's board instead elected the company's preferred slate of 15 candidates. The vote was a repudiation…
26 May 2023
Aramco Term LPG Lifters Lower Recommendations For June CP Amid Long Supply
Saudi Aramco term buyers have made their first round of recommended liquefied petroleum gas (LPG) contract prices (CP) for June to be significantly lower compared with May on Friday amid an anticipated supply overhang and limited demand, according to market…
25 May 2023
DTEK's New 114 MW Wind Power Plant Starts Supplying Southern Ukraine
Ukraine's largest private energy company DTEK said its 114-megawatt (MW) Tyligulska wind power plant in southern Ukraine is now officially online and supplying green energy to the region. The plant, located in the Mykolaiv region, has 19 turbines and is…
25 May 2023
World's First Industrial-Scale Carbon Capture Plant Built in Germany by 2025
Heidelberg Materials and Linde have formed a joint venture to build the world's first industrial-scale carbon capture and utilisation (CCU) plant at Heidelberg Material's cement plant in Bavaria, Germany, according to a Heidelberg Materials news release. The joint venture, called…
25 May 2023
Global Clean Energy Investment Set to Reach $1.7 Trillion This Year: IEA
Global investment in clean energy is on track to hit $1.7 trillion this year, significantly outpacing spending on fossil fuels, the International Energy Agency said Thursday. In its latest World Energy Investment report, IEA said 2023 global investment in energy…
25 May 2023
U.K. Transport Fuel Demand Increases in Q1 2023 on Year
Total deliveries of petroleum products in the U.K. increased in the first three months of 2023 compared to the same period of the previous year amid a jump in demand for transport fuels, according to provisional U.K. government data released…
25 May 2023
Italy's Diesel Demand Decline Accelerated in April: UNEM Data
Italian motor diesel demand fell by 5.4% in April compared with the same month of 2022, recording the largest year-to-year drop since the beginning of 2023. Industry association UNEM said Wednesday that the decline was equivalent to 105,000 metric tons,…
24 May 2023
OPIS Europe Marine Fuels Prices May 24 2023
DMA supplies tightening in ARA With diesel marine fuel A premia moving in a tight range over the week, market sources were suggesting that prices could start to strengthen, in particular as crude builds. "It seems market getting more tight,"…
24 May 2023
Gasoline, Diesel Pump Prices Fall in U.K. and Rise in EU on Week: OPIS NAVX
Gasoline and diesel retail prices in the largest European Union markets of Germany, France, Italy and Spain declined in the latest week to May 23, but U.K. gasoline and diesel pump prices fell over the same period according to the…
24 May 2023
UK Issued $60M in Free UKAs to Three Installations Mostly Offline in 2022
In 2022, the British government issued free carbon allowances worth almost $60 million to three operators whose installations were not even operational for all or part of that year, an analysis by OPIS shows. The installations are the Ince manufacturing…
24 May 2023
UPDATE: France Bans Short-Haul Flights With Train Alternative
(Updates with comment from airline industry group IATA in fifth paragraph) France has officially banned air travel between locations which are less than 2 hours and 30 minutes apart by train. The decree was published on Tuesday, implementing an effective…
24 May 2023
France Bans Short-Haul Flights With Train Alternative
France has officially banned air travel between locations which are less than 2 hours and 30 minutes apart by train. The decree was published on Tuesday, implementing an effective ban on air travel between Nantes, Bordeaux, Lyon and Paris-Orly. The…
 

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