China oil imports Nigeria elections and Venezuela sanctions: Commodity and energy news highlights2/15/2019 The Lunar New Year brings shifts in supply in demand patterns across commodities, and 2019 was no different. Chinese oil imports saw a strong year on year increase in January, but February figures are likely to be weaker due to the vacation. Meanwhile, steel markets were braced for pent up demand as China went back to work. Ferrous markets continued to focus on the fallout from Vale’s catastrophic iron ore dam failure, with far-reaching Brazilian legislation now responding to the disaster. Neighboring Venezuala is still in the grip of political turmoil, meanwhile, with consequences for global oil trade flows and supply chains further downstream. HIGHLIGHT Analysis: New Brazil laws seen significantly impacting Minas Gerais mines output New state and Brazilian federal government legislation restricting the use of tailing dams may have a significant and permanent impact on iron ore production in the southeastern state of Minas Gerais, the country’s biggest producer, with both market and political implications, state government and iron ore market sources say. GRAPHIC OF THE WEEK Factbox and infographic: PDVSA sanctions affect flows, accelerating output declines OIL Podcast: Nigerian election puts focus on country’s energy future The February 16 Nigerian election pits incumbent President Muhammadu Buhari against Atiku Abubakar from the People’s Democractic Party, in what is expected to be a close race. For Africa’s largest oil producer, the impact of the vote could stretch across the barrel, from crude oil exports to the domestic gasoline market. POWER Insight: Balance of power tilts towards renewables in Asia Pacific Renewable energy sources are now a commercially profitable business in many parts of Asia Pacific without government largesse and subsidy support. But the renewables story has just started. LNG LNG supply disruptions fail to lift spot prices Supply disruptions in the Asia Pacific region have failed to lift LNG spot prices, amid lackluster demand in northeast Asia and ample supplies elsewhere in the market. Despite production cuts at the Pluto, Wheatstone and Gorgon facilities in Australia, and Bintulu in Malaysia, there were three to five excess cargoes available for March delivery, LNG trading sources said. SHIPPING Feature: Singapore bunker industry faces volatile barging cost The bunker industry in Singapore should brace itself for volatile barging costs once the International Maritime Organization’s tighter sulfur limit rule is implemented in 2020, a development which could further squeeze barge companies that are already facing tough market conditions. THE LAST WORD “Probably for the next couple of years we will see US LNG in Italy, because the market is in such a situation that we think there will be room,” said Eni head of gas and LNG marketing, Massimo Mantovani, addressing the EGYPS conference in Cairo. The post China oil imports, Nigeria elections and Venezuela sanctions: Commodity and energy news highlights appeared first on The Barrel Blog. from https://blogs.platts.com/2019/02/15/china-oil-nigeria-elections-venezuela-sanctions/
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About MeHi I am Robert Keasler 35 years old, I am mine Engineer currently attached with local petroleum exploration company. In free time mostly search for some better opportunity online. ArchivesNo Archives Categories |