Russell: The war between Iran and the ROI is both a boon and a danger to Australia's LNG.
The U.S.-Israeli war against Iran changed the global market of?liquefied gas (LNG), giving a boost to the producers outside the Middle East. This boost will likely last for many years after the conflict ends. Australia is one of the biggest beneficiaries, having last year dropped to third place in the world for super-chilled fuel exports behind the United States of America and Qatar.
Association says Indonesian biodiesel demand will reach 15 million metric tonnes at the launch of B50
The Indonesian palm oil association said on Wednesday that the demand for biodiesel was expected to be 15 million metric tons this year. This is an increase of 2 mts from last year. B50, a biodiesel blend of 50% palm-oil-based biodiesel with 50% conventional diesel, will be implemented on July 1, this year as part of an overall government program to reduce the risk of war in Iran.
Palm oil prices rise for the fifth consecutive day as biodiesel and crude oil boost palm prices
The market for Malaysian palm oils futures rose on Wednesday for the fifth consecutive session, as the market was supported by the announcement of Indonesia's rollout of B50 biodiesel and the rising prices of crude oil. By midday, the benchmark palm oil contract for?June deliveries on the Bursa Derivatives Exchange had gained 33 ringgit or 0.68% to 4,861 Ringgit ($1,204.71).
Russell: The war between Iran and the ROI is both a boon and a danger to Australia's LNG.
The U.S.-Israeli war against Iran changed the global market of liquefied gas (LNG), giving a boost to producers outside the Middle East. This boost will likely last for many years after the conflict is over. Australia is one of the biggest beneficiaries, having slipped last year to third place in the world's exports of super-chilled gasoline behind the United States of America and Qatar.
HMH Holding raises more than $210 million through its US IPO
HMH Holding, an oil and?gas equipment manufacturer in the United States, raised more than $210 million on Tuesday after pricing its U.S. initial public offering within its range. Houston-based HMH has sold approximately 10.5 million shares for $20 each, as opposed to its advertised price range of $19 - $22 per share, giving it an estimated $862 million valuation. Experts in the industry have stated that despite increased volatility…
Solar boost has seen renewables reach almost 50% of global capacity by 2025.
Data from the International Renewable Energy Agency, which was shared with us exclusively on Tuesday, showed that renewable power accounted for almost half of 'world's electric capacity in 2013. This is due to a record-breaking increase in solar installations. Some industry leaders have called for increased investment in fossil fuels as the Middle East conflict has resulted in record monthly gains.
Gas industry in Spain calls for better remuneration proposals
Sedigas, the Spanish gas industry's body, called on Monday for "significant" alterations to proposed remuneration regulations for gas-related businesses through 2032. They emphasized the need to ensure "a reasonable and sufficient remuneration structure". The energy and competition watchdog CNMC in the country released two sets of proposals late Thursday: one for remuneration rules of gas-related businesses through 2032…
Oil rally fails to boost drilling as services firms are squeezed
Oilfield services firms around the world are bracing themselves for a 'hit to their earnings, as the Iran War disrupts energy infrastructure in the Middle East. Producers will hold off on new drilling until the higher oil prices have been proven durable. Brent benchmark prices are up 53% from February 27, the day before U.S. and Israel began their strikes against Iran.
Palm oil rises in third session due to firm Chicago crude, soyoil and exports
Malaysian palm oil futures rose on Monday for the third consecutive'session,' boosted by higher Chicago soyoil & crude oil prices. Meanwhile, robust export figures continued to support a positive market sentiment. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery was up 36 Ringgit or 0.78% at 4,667 Ringgit ($1,160.95). David Ng is a proprietary 'trader' at Kuala Lumpur based trading firm Iceberg X Sdn Bhd.
Inpasa, a corn ethanol producer, opens a new plant in Brazil
Inpasa, a corn ethanol producer in Brazil's Bahia State, announced?that it had started operating at its new facility. It aims to produce 470 million liters of biofuel per year. In an interview, Gustavo Mariano said that the plant was now operational and the company would have a supply within a few days. In recent years, corn ethanol production has increased dramatically in Brazil. This is a long-controlled industry by sugarcane farmers.
Oil and gas exploration is back. Energy giants are hunting to replenish reserves
Executives at the CERAWeek Conference in Houston, Texas, this week declared that global energy companies have returned to the basics, focusing their efforts on finding?new oil and gas sources. This marks the end of years of underinvestment. The'shale revolution' in the U.S. in recent years promised a flexible, abundant supply. However, growth in renewable energy sources like wind and sun raised doubts over long-term demand for oil.
The Russian government has announced that the ban on gasoline imports will be implemented from April 1.
The Russian government reported that Alexander Novak, the Deputy Prime Minister of Russia, had instructed his energy ministry on Friday to draft a resolution banning gasoline exports as of April 1, 2019. The state-run TASS reported earlier that the ban will remain in effect until July 31. Novak stated that the turmoil on 'the global oil market and its products, which is caused by a crisis in the Middle East has led to significant price changes.
Oil rally fails to boost drilling as services firms are squeezed
Oilfield services firms around the world are bracing themselves for a drop in earnings, as the Iran War?disrupts the energy infrastructure throughout the Middle East. Producers will hold off on new drilling until the higher oil prices have been proven to be durable. Brent's benchmark price has risen 53% in the past two months, just one day before Israel and the U.S. launched their strikes against?Iran.
Russia's Threatens to Divert LNG Cargo From Europe, Options Limited
Russia's threat to halt liquefied natural gas (LNG) deliveries to Europe and divert cargoes to Asia would prove difficult to achieve because of its long-term contracts and need for more Arctic-class tankers, industry analysts said.President Vladimir Putin said in a TV interview early in March that Russia could stop gas supplies to Europe with immediate effect and seek…
After oil shock, Argentina allows upto 15% ethanol to be blended into gasoline
The government of Argentina announced on Friday that it would 'allow local firms to voluntarily blend up to 15% ethanol in gasoline. This is a move designed to reduce the impact of higher oil prices on fuel costs. The Energy Secretariat issued a statement saying that the measure was designed to "give industry more flexibility" and to "protect consumers from any potential increase in fuel prices." According to analyst estimates…
Palm futures post fourth consecutive weekly gain
After losses earlier in week, Malaysian palm futures posted a fourth weekly gain. A softer ringgit helped support the market. However, uncertainty about the Middle East war and crude oil outlook capped gains. At close, the benchmark June palm oil contract on Bursa Malaysia's Derivatives exchange rose 47 ringgit or 1.03% to 4,630 Ringgit ($1,154.04) per metric ton. The contract?advanced by 0.41% in the past week.
EU Ministers call for a united front on the energy crisis
The European Union Finance Ministers will coordinate their response on Friday to the energy price surge caused by the Iran 'war. They will ensure that the measures help the most vulnerable and?move Europe away from fossil fuels while keeping fiscal costs and demand under control. Since the U.S. and Israeli strikes against Iran began on 28 February, oil and gas prices have risen dramatically.
Taiwan freezes its electricity rates to maintain the industry's competitiveness and stabilize prices
The economy ministry announced 'on Friday that Taiwan won't raise its electricity prices for the time being, despite the fact that energy prices are higher due to the Middle East war. This is to maintain price stability and to keep the industrial competitiveness. The government is trying to limit price increases for consumers across the board to help reduce the impact of rising energy prices internationally, including heavily subsidising energy.
Document shows that the Japanese government has asked wholesalers to switch from Dubai to Brent pricing.
According to a document obtained by on Friday, the Japanese industry ministry has asked domestic wholesalers "to switch to Brent crude oil prices" from the Dubai benchmark when setting gasoline prices. This is an effort to limit price increases. This measure is one of many tools that Japan, which depends on the Middle East to provide?more?than 90% of its oil needs, has used in order to deal with the Iran War disruptions.
As war disrupts LNG exports, Japan is considering increasing coal-fired energy
The Japanese industry ministry plans to propose increasing the use of coal-fired electricity generation in the fiscal year starting in April as the U.S.-Israeli conflict with Iran creates uncertainty about liquefied gas imports. Japan imports around 6% of all its LNG through the Strait of Hormuz, which is effectively closed because of the war. The Ministry of Economic…