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    The shift to greener fuels in shipping is gathering pace, with a almost a third of orders reflecting that, amid a wider re-evaluation of energy sources in the wake of Russia's invasion of Ukraine and the resulting change in energy flows, engineering company Wartsila said Jan. 31. The number of vessels ordered in 2022 fell 16% on the year to... [...]

    The Middle East, flush with new refining capacity, has stepped up its fuel exports to Europe, just as the EU's embargo on Russian oil products is set to go into effect Feb. 5. Diesel shipments from the Middle East to Europe have seen volumes hit a weekly peak of just below 500,000 b/d in January, according to data from S&P... [...]

    Counter to market expectations, Americas clean tanker freight rates have plunged ahead of the upcoming EU ban on Russian oil product deliveries to Europe, amid limitations to supply and demand of diesel. This comes as demand from Europe has yet to significantly materialize for US Gulf Coast barrels, with Russian product still traveling to Europe at significant levels and amid... [...]

    China's much anticipated oil demand revival will likely prompt the country to keep more barrels at home this year -- a trend that could lead to a slump in clean oil product exports from Asia's biggest oil consumer toward the later part of 2023, sources told S&P Global Commodity Insights. Although Chinese refiners are holding plentiful export quotas now, analysts... [...]

    Libya's state-owned National Oil Corp. announced a new partnership with Italy's Eni on Jan. 28 to develop two plots with expected natural gas reserves of 6 trillion cubic feet and an estimated production capacity of 750 million cf/d for 25 years The agreement is the first of its kind in Libya since at least 25 years ago, NOC said in... [...]

    Republicans in the US House of Representatives Jan. 27 pushed through legislation tethering releases of crude oil from the US Strategic Petroleum Reserve to the creation of a plan to boost oil and gas production on federal lands. Republicans framed the Strategic Production Response Act (H.R. 21) as a means to end the Biden administration's politically motivated abuse of the... [...]

    Global LNG logistics company Atlantic Gulf & Pacific International Holdings hopes to start operations at its first Philippines LNG import terminal between March and May while aiming to expand its presence globally, President AG&P LNG Terminals and Logistics, Karthik Sathyamoorthy, said. "We are going through a very interesting time within the LNG space ... we are a demand creator [developing... [...]

    China's exports of both low and high sulfur fuel oil fell 6% year on year to total 18.04 million mt in 2022, according to data from the General Administration of Customs Jan. 28, as bunker demand in the downstream market declined. Exports rose 5% month on month but fell 5.6% on the year to 1.23 million mt in December 2022,... [...]

    Norway's ramp-up of production from the flagship Johan Sverdrup oil development is finding a demand sweet spot thanks to improving global sentiment, North Sea production issues, and sanctions against Russia's Urals crude oil. First brought on stream in October 2019, the 2.7-billion-barrel Sverdrup field was considered an outlier, the crude being a heavier, more sour grade than the sought-after light... [...]

    The US Department of Energy Jan. 26 awarded universities and private companies a combined total of $118 million to pursue 17 projects aimed at boosting the production of biofuels seen as key to reducing emissions in the transportation and manufacturing sectors. The projects focus on advancing biorefinery development in an effort to make energy-dense, advanced biofuels more plentiful in the... [...]

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