Asian spot liquefied natural gas (LNG) prices rose $1 this week due to buying activity by China and India, easing inventory levels in Japan and higher oil prices. The average LNG price for November delivery into north-east Asia LNG-AS rose to $14 per million British thermal units (mmBtu) from $13 the previous week, industry sources estimated. China’s Unipec, the trading arm of top Asian refiner Sinopec, bought over 30 LNG cargoes via a tender for deliveries from October 2023 to the end of2024 to meet winter demand and boost its ...

Northwest European diesel barge refining margins eased to about $37.4 a barrel on Friday as buying activity slowed down, but a Russia ban on fuel exports limited further losses. Russian oil pipeline company Transneft has stopped export shipments of diesel fuel from the Primorsk and Novorossiysk ports, the TASS news agency cited the company as saying on Friday. Russia on Thursday temporarily banned exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect in order to stabilise the domestic market, the government ...

Northwest European gasoline refining margins dipped to a two-week low at around $20 a barrel on Friday as exports to the United States remained subdued. Northwest Europe (NWE) gasoline exports in September are lagging well behind those shipped out a month ago due to poor transatlantic arbitrage economics, said LSEG analyst Raj Rajendran. Shipments bound for the United States diverted south to Latin America and the Caribbean, while those to West Africa are recovering after an even slower start, he added. NWE gasoline exports to the United States in September ...

Russian wholesale gasoline Ai-92 grade prices fell by 9.7% to 55,892 roubles ($582) per metric ton on Friday, according to exchange data, following a government ban on fuel exports. Diesel prices were down 7.5% to 66,511 roubles per ton, according to the data from the St. Petersburg International Mercantile Exchange (SPIMEX). Wholesale fuel prices in Russia had been steadily rising this year amid fuel shortages, reaching all-time highs. In response, Russia on Thursday temporarily banned exports of gasoline and diesel to all countries apart from four ex-Soviet states. Russia has ...

U.S. natural gas futures edged up about 1%on Friday on forecasts for warmer-than-normal weather in early October that should promptpower generators to burnmore gas to keep air conditioners humming. Prices were also up with exports to Mexico on track to hit a record high in September and as the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants rises as Cheniere Energy’s LNG.A Sabine Pass plant in Louisiana pulls in more fuel. Capping those gas price gains were expectations that Tropical Storm Ophelia willknock out power after ...

The last major piece of infrastructure needed to startproduction at Mexico’s first floating liquefied natural gas (LNG) plant is set to depart from a Texas shipyard next week, the U.S. Coast Guard said in a notice to shippers. LNG developer New Fortress Energy NFE.O is planning to begin production at the 1.4-million-tons-per-year floating plant off the coast of Altamira, Mexico, in the coming weeks. The company had in August said the first cargo from the project should depart in October. The first of three rigs that willcompose the floating LNG ...

Ukraine’s natural gas consumption is expected to fall below 20 billion cubic metres (bcm) this year from about 27 billion in 2021 before the full-scale war with Russia began, the CEO of the country’s biggest oil and gas company Naftogaz said on Friday. Oleksiy Chernyshov told Reuters he expected Ukrainian gas reserves to exceed 16 bcm at the start of the current heating season, enough to get the country through the upcoming winter. The heating season typically starts in mid- to late-October. “Overall Ukraine’s gas consumption, annual, is below 20 ...

Momentum behind low-emissions hydrogen continues to grow despite the slow roll-out of financial incentives and stubborn cost pressures that threaten to delay projects, a new IEA report says today. But production levels can still increase substantially by 2030 if all announced projects are realised and greater efforts are made on encouraging uptake. The number of announced projects for low emissions hydrogen continues to expand rapidly while more than 40 countries worldwide have set out national hydrogen strategies to date. Yet, installed capacity and volumes remain low as developers wait for ...

Asia’s naphtha refining profit margin more than doubled this week amid volatility in crude oil benchmarks and lower Russian supplies to the Singapore trading hub. The crack rose by $2.50 to $19.55 per metric ton over Brent crude on Friday and the first-half November naphtha price jumped by $10 to $720.50 a ton. The gasoline crack, on the other hand, posted a weekly loss of about 39% amid worries of lower demand as U.S. driving season ends. The crack plunged below $10 per barrel on Friday. There was negligible impact ...

China’s natural gas demand this year is expected to grow by 8% from 2022, an analyst from state-owned oil major CNOOC’s research division said, a pace higher than analysts’ forecasts on the back of cooling gas prices and China’s economic recovery. Xie Xuguang, from CNOOC Gas and Power Group’s research centre, told a conference on Thursday that China’s total gas demand may reach396.4 billion cubic metres (bcm) this year. Imports of liquefied natural gas (LNG) are expected to reach 70.79 million metric tons this year, up 10.9% from last year, ...

Asia’s middle distillates markets were volatile through the week as mixed demand-supply outlooks for October persisted, though gains were evident on Friday as a knee-jerk reaction amid tight supply worries in the West offset remaining market drivers. Refining margins GO10SGCKMc1 for 10 ppm sulphur gasoil closed the week at $31.69 a barrel, down by around 5% week-on-week despite a late-week surge. Meanwhile, spot cash premiums GO10-SIN-DIF firmed further reflecting price strength in the prompt markets. A buy-sell gap hindered serious discussions. A potential decline in Russian exports for both September ...

Hydropower generation in Asia has plunged at the fastest rate in decades amid sharp declines in China and India, data shows, forcing power regulators battling volatile electricity demand and erratic weather to rely more on fossil fuels. The two countries, which account for about 3/4 of Asia’s power generation and most of its emissions, are also to a lesser extent using renewables to make up for the hydropower shortfall and address rising electricity use. Major Asian economies have faced power shortages in recent years due to extreme weather conditions, including ...

U.S. natural gas futures climbed about 2% on Friday on forecasts for warmer-than-normal weather in early October that will likely force power generators to burn more gas to keep air conditioners humming. Prices were also up with exports to Mexico on track to hit a record high in September and as the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants rises as Cheniere Energy’s LNG.A Sabine Pass plant in Louisiana pulls in more fuel. Capping those gas price gains were expectations that a tropical storm could ...

Dutch and British wholesale gas prices mostly inched up on Friday morning after changes to Norwegian maintenance outages and on expectations of weaker wind output over the weekend. The Dutch October contract TRNLTTFMc1 was up 0.79 euro at 39.49 euros per megawatt hour (MWh) at 0850 GMT, while the Q4 contract TRNLTTFQc1 was 0.90 euro higher at 43.50 euros/MWh. In the British market, the weekend price TRGBNBPWE rose by 1.50 pence to 98.00 pence per therm while the October contract TRGBNBPMV3 rose by 0.68 pence to 101.25 pence/therm. Gassco has ...

Sizable offshore findings and the worldwide preference for natural gas will power Colombia’s economy and hydrocarbon industry over the long term, according to a new report from Fitch Ratings. In the short term, Colombia will still need to rely on crude to meet its energy needs, especially for transportation, and to maintain economic growth, government spending and foreign currency inflow. While strong crude prices and a robust pipeline of existing contracts will support the Colombian energy industry in the short and medium term, Colombia’s crude oil reserves are expected to ...