Friday , August 14 2020
Home / The Barrel Blog (page 3)

The Barrel Blog

Bakken crude exports fall, prices pressured as closure of major pipeline looms

Fewer Bakken crude exports, shifting pipeline flows, lower production and dramatic pricing fluctuations are all possible repercussions of a federal court ruling handed down that the main artery out the Williston Basin, the Dakota Access Pipeline, will be shut and emptied by August 5. Uncertainty has clouded Bakken crude oil trading in recent days as traders and marketers currently buying and selling August barrels have been forced to seek alternative transportation methods and operate on the...

Read More »

Dirty tanker markets face reality check after boom busts: Fuel for Thought

The tanker markets experienced an extremely volatile second quarter as the coronavirus pandemic threw all oil-related markets off-kilter, with rates on some routes swiveling from record-highs to record-lows in just a matter of months. But with the oil market gradually rebalancing and the summer lull kicking in, freight rates are likely to stay largely steady and soft in the coming months. And according to S&P Global Platts Analytics, freight rates on the dirty tankers’ market will likely...

Read More »

Commodity Tracker: 5 charts to watch this week

Revisions of future oil and gas price assumptions by oil majors are in focus this week, along with the outlook for European power demand and sales on Gazprom’s ESP platform. In Asia, we take a look at South Korean refiners’ crude preferences and the prospects for commodity demand in China. 1. Oil majors rethink future price decks over pandemic squeeze   What’s happening? Europe’s biggest oil companies have been cutting their future oil and gas price assumptions over the expected...

Read More »

Insight from Brussels: EU makes multi-billion euro bet on energy transition tech

Clean hydrogen, renewables, batteries, and carbon capture and storage are among the energy transition technologies set to benefit from billions of euros of public funding as the EU seeks to become climate neutral by 2050. Much of this is to come from the European Commission’s proposed Eur750 billion ($852 billion) “green” recovery plan, which needs unanimous approval from the EU’s 27 national governments to go ahead. The proposal includes EU budget guarantees of Eur20 billion for sustainable...

Read More »

ESG and mining: sustainability after coronavirus

As the world battles the coronavirus pandemic and resulting economic fallout, industries of all types face the urgent challenge of securing their short-term financial future. But the debate about environmental, social and governance concerns has been far from drowned out by the global health crisis, even taking on new meaning as companies’ responsibilities toward worker and community health came to the fore. For the mining sector, ESG was undoubtedly a business buzzword in 2019, but its main...

Read More »

European steel industry looks for way forward amid coronavirus demand blow

The coronavirus has dealt the European steel sector a heavy blow. Coming on the heels of Brexit and global trade tensions, the crisis has also highlighted the region’s overcapacity problem, raising the possibility of previous merger and divestment plans being revived. As much as 18.9 million mt of steelmaking capacity was taken offline in Europe during the market slump caused by the pandemic – more than in any other region. This comes on top of 2019’s marginal contraction in production. By...

Read More »

In northern China’s hydrogen push, by-product output and renewables lead the way

China might lead the world in battery vehicles, but until recently it was a relative laggard in hydrogen. Now, it’s catching up. According to the China Hydrogen Alliance, a government-supported industry group that promotes the use of hydrogen, China built 38 new hydrogen refueling stations in 2019, meaning that by the end of the year China had a total of 66 hydrogen refueling facilities, 46 of which were operational. The government is targeting 300 HRS across the country by 2025. A range of...

Read More »

Commodity Tracker: 5 charts to watch this week

Global energy markets are still fragile, with Japanese LNG imports at more than 10-year lows in May, while fuel demand recovery across Asia remains patchy. S&P Global Platts editors also report on record US gas pipeline exports to Mexico, rapidly filling European gas storage and falling French winter power prices. 1: Japan’s LNG imports lowest since April 2009   What’s happening? Japan imported 4.58 million mt of LNG in May, down 18% year on year and 12% from April, according...

Read More »

Of cars and cans: US aluminum and the pandemic

The coronavirus pandemic has obliterated global metals demand as one of the main end uses, automotive applications, has seen major disruptions to the supply chain. The US metals market, in particular, saw the removal of an estimated 33,000 vehicles per day from production as all major auto producers across the country halted operations in response to government mandates and concerns over the welfare of workers. Because the transportation sector is the largest end user of aluminum, accounting...

Read More »

Insight Conversation: Ian Johnston, Engenie

Engenie is a London-based electric vehicle charging infrastructure company partnering with commercial landlords across the UK to grow the country’s public charging network. CEO Ian Johnston spoke to S&P Global Platts about the current landscape of EV public charging networks in the UK, the importance of making charging infrastructure customer friendly, and how EVs will support the transition to renewable energy. How much charging capacity has Engenie installed to date and how would you...

Read More »