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This is an excerpt. For the full feature, subscribe to Platts Dimensions Pro . The coronavirus pandemic may be officially over, but the longer-term impacts are lingering in the US refining sector, which has seen a spate of accidents over the past nine months. Some industry players put the onus of recent refining accidents and emissions events on plant maintenance... [...]
Russia's invasion of Ukraine has led to escalating budget expenditure and triggered sanctions that continue to put pressure on prices for Russian crude. These radical changes to the Russian economy play into its OPEC+ policy , at a time when crude production continues to be below quota. Click here to see the full-size infographic (Latest update: June 1, 2023)... [...]
Japan will bolster providing its loan insurance in areas including companies procuring LNG and critical minerals, as well as for developing hydrogen supply chains from July 1, Minister of Economy, Trade and Industry Yasutoshi Nishimura said June 2. The move comes as part of Japan's efforts to enhance its supply chains of critical commodities and materials including natural gas and... [...]
The US Senate June 1 approved legislation to raise the US debt ceiling, in a step likely to allow the 304-mile, 2 Bcf/d Mountain Valley Pipeline to advance to completion. The bill, dubbed the Fiscal Responsibility Act of 2023, would raise the US debt ceiling through early 2025 and cap non-defense federal spending across the next two fiscal years. Approved... [...]
Two weeks of market speculation in the wake of threats by Saudi Arabia's energy minister to leave short-sellers "ouching" will come to a head June 3-4 in Vienna, as OPEC and its allies prepare to hold their first in-person meeting since October to deliberate on oil-production quotas. While Prince Abdulaziz bin Salman's comments, made at an industry conference in Qatar... [...]
Emerging producer Namibia is seeking to calm its natural resources sector, with allies of its energy minister saying his comments about the government potentially taking free equity stakes in oil companies were being misinterpreted. "We are making a case that local ownership must start with the state, which holds ownership of our natural resources," Tom Alweendo, minister of mines and... [...]
Germany's biggest ever offshore wind auction is to close June 1 with 7 GW of capacity on offer in a process likely to attract some of Europe's largest utilities, developers and oil majors. Three 2-GW wind farms in the North Sea and a 1-GW concession in the Baltic Sea are being tendered. For the first time, the auction is for... [...]
Stagflation is a word that should strike fear into the hearts of OPEC ministers scheduled to meet in Vienna on June 3. The economic phenomena of low growth and entrenched inflation that wreaked havoc in the 1970s may be back with a vengeance. For OPEC and its allies led by Russia, global stagflation is very bad for business. It invariably... [...]
China's natural gas demand is becoming more feasible with Asian LNG spot prices dropping below the key $9/MMBtu level this week, but a steeper drop may be needed for any substantial demand to emerge amid challenging economic conditions. As a result of lower Asian LNG prices, buying interest was seen picking up for forward deliveries, especially in North Asia. China's... [...]
India's Bharat Petroleum Corp. has crafted out a major expansion strategy that will see the state-run refiner investing close to $6.5 billion over the next few years to sharply expand its footprint in petrochemicals, lubricants and renewables, as it prepares for a changing energy landscape. Company sources said the move is a part of a wider plan by all state-run... [...]
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