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The proportion of carbon emissions attributed to the consumption of refractory bricks -- heat-retardant materials used to line smelting furnaces -- is set to become a growing focus for the steel industry, particularly as steelmakers reduce their own direct CO2 emissions and look to make further savings elsewhere in the process. Stefan Borgas, CEO of Vienna-headquartered LSE-listed refractory supplier RHI... [...]
Russia's move to temporarily ban diesel exports to ease surging domestic fuel prices could see more barrels moving from the Persian Gulf to the West, with market participants expecting tight supply conditions in Asia to exacerbate in Q4 if the ban is not lifted. The ban which comes into effect Sept. 21, is expected to remove around 1 million b/d... [...]
Iraq plans to award the Akkaz natural gas field development contract to an unnamed Ukrainian company, with the goal of increasing the production capacity to 400 MMcf/d, the official Iraqi News Agency reported Sept. 23, citing Basim Mohd Khedair, undersecretary of extraction within the oil ministry. The oil ministry had been in talks with US companies and other investors to... [...]
In a win for the oil industry, a Louisiana court late Sept. 21 granted a preliminary injunction that will put 6 million acres off the US Gulf Coast back on the table as part of an upcoming offshore oil and gas lease sale. The court's ruling also removes stipulations on oil and gas operations that the Interior Department had incorporated... [...]
Russia's move to temporarily ban nearly all its exports of diesel and gasoline to ease surging domestic fuel prices is set to hit flows to Turkey and Brazil, but market watchers expect the curbs to be short-lived. Announced with immediate effec t on Sept. 21, by far the biggest impact of the ban will be on global diesel markets, as... [...]
Crude oil futures rose in midmorning Asia trade Sept. 22 after Russia introduced a ban on exports of diesel and gasoline, bringing tight supply concerns to the fore. At 10:50 am Singapore time (0250 GMT), the ICE November Brent futures contract was up 65 cents/b (0.70%) from the previous close at $93.95/b while the NYMEX November light sweet crude contract... [...]
Diesel importers in Brazil are grappling with uncertainty after Russia's announcement on Sept. 21 that it was temporarily banning exports of diesel and gasoline to ease domestic fuel prices and alleviate supply shortages. In recent months, Russian product has accounted for about 78% of diesel imports into Brazil, data from S&P Global Commodities at Sea showed. With the export ban... [...]
VLGC freight rates from Houston to Chiba, Japan, reached $245/mt Sept. 21 for the first time since 2015, according to LPG shipping sources. VLGC rates reached that level during a time when prices have been pressured due to a widening Houston-Asia arbitrage and an ongoing backlog of vessels looking to pass the Panama Canal, LPG shipping sources said. Houston to... [...]
The emergence of renewable and cleaner forms of energy globally is a reason to be hopeful about mitigating the impacts of climate change, but reaching greenhouse gas emissions reduction targets hinges on fair international cooperation and without it energy transition will be slower and more expensive, Fatih Birol, executive director of the International Energy Agency, said Sept. 21. One of... [...]
Brazilian independent oil and natural gas producer Prio pumped first oil from the POL-Q well at the offshore Polvo field, boosting output from the mature heavy oil producer by about 15%, according to a regulatory filing. "Initial production was stabilized at approximately 1,000 b/d," Prio said Sept. 20 after local markets closed. "The new well is producing from the field's... [...]
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