Market

Kuwait's Al-Zour Refinery has started operations at one of its CDUs a few days ago. The 615 kbd refinery is one of the largest globally, representing the most significant addition to global refining capacity in years and the largest addition until Nigeria’s Dangote plant eventually starts up later this decade.

Market

Since the invasion, there has been an increase in the number of vessels operating in the Black Sea with lost AIS signals for one day or more, but there is no indication yet that this increase is linked to suspicious behaviour including covert ship-to-ship (STS) activity.

Market

European security of gas supply is a topic that won't be going away any time soon. In this article, we discuss the latest proposals by the European Commission to introduce a 80% gas storage target by 1 November and Friday's deal between US and the Europe Union to increase LNG supplies by 15 bcm this year.

Market

As Russian crude oil exports could decrease by 1.5 mbd from next month onwards according to our estimates, we look to what extent US shale production could offset the impact thanks to its business model with high flexibility and reactivity.

Market

A few laden Yamal LNG-chartered vessels that were earlier signalling their arrival at ports in France and Spain are waiting for orders to sail to new destinations suggesting a pre-emptive move by Yamal LNG ahead of a possible ban by the EU on Russian ships entering its ports.

Market

As oil prices soar to new multi-year highs, US consumers are having to deal with rising gasoline prices along with widespread inflation elsewhere. While the US administration appears unwilling to stimulate and incentivize domestic oil production, comparatively cheap natural gas is giving refiners one less cause for concern.

Market

The Russian war in Ukraine is in its seventh day and financial sanctions on Russian individuals and banks are set to cripple the financial sector. Energy exports have not been the target of sanctions and even though the effect has made buyers and shippers wary, trade volumes have been unmoved so far as current loadings would have traded and had vessels fixed before the invasion. But, with Urals hitting a new record discount to Brent, finding buyers over the coming weeks is set to become increasingly difficult.

Market

The war in Ukraine has quickly highlighted the fragility of grain markets. Prices have responded to the upside as a result. While loading disruptions have yet to surface, strict sanctions, a Russian agreement with China and disappointing Ukrainian yields are all likely to weigh on Black Sea loadings as the harvest season approaches in Q3. Med purchasers are poised to feel the biggest impacts, albeit the United States could help to fill the supply gap.

Market

Russia’s Sovcomflot-owned 172,600 m3 Christophe de Margerie ice-class LNG carrier has diverted away from the UK and is sailing to France’s 8 mtpa Montoir LNG receiving facility, following the UK’s decision to ban ships with Russian connections entry to its ports.