Page 26 - Platts Analytics News Today

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The new hydrocarbons law -- first announced in late 2019 but as yet unimplemented -- is considered essential for restoring the attractiveness of Algerias upstream sector, offering improved fiscal terms for investors. Energy minister Mohamed Arkab, who regained his post in February after eight months away, told Algerian radio on April 26 that 95% of the implementing texts had now be...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now This compares with other regions such as Europe where oil demand is unlikely to reach pre-pandemic heights till at least early next year as mobility restriction weigh on fuel needs. Africa-focused oil consultancy CITAC said oil consumption is expected to return to pre-pandemic levels from H2 2021 and exceed it by Q3 2022. CITAC Executive Director Elitsa Georgieva said demand fundam...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Earlier this month, exports to the US southern neighbor hit record levels just shy of 7 Bcf/d, data compiled by S&P Global Platts Analytics shows. The record-setting volumes were accompanied by population-weighted temperatures in the upper 70s Fahrenheit, about 5 degrees above normal, and by a spike in electric cooling demand. As temperatures transition toward more summer-like aver...

S&P Global Platts has cut India’s 2021 demand forecast for oil products by 9 per cent to 400,000 barrels per day (b/d) now, as compared to 440,000 b/d estimated last month. The latest revision, S&P Global Platts said, was done after taking into account the surging Covid cases across the country that have triggered lockdowns and mobility curbs across key economic hubs in India. “Lockdowns have been imposed in some pockets and provinces. Therefore, we have adjusted Indias total oil product d...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now "Things seem to be moving," Bruno Brunetti, head of global power planning at Platts Analytics, said by email on April 26. "Our forecast is for 7.7 GW built by 2026, which is in line with our prior forecasts." Earlier this month, Saudi energy minister Prince Abdulaziz bin Salman inaugurated the Sakaka IPP PV project, the first renewables project in the kingdom, with an output capaci...

Energy security omens returning to haunt oil market Energy security concerns are bubbling beneath the surface as the global oil market seems to be entering into the early stages of recovery from the pandemic. While OPEC+ can provide the necessary crude as demand recovers in the near term, there may be a lack of firepower from the rest of the oil-producing fraternity further down the line. But the recent rise in oil prices could be just what the world needs. Dated Brent, the global physical oil ...

Singapore — Indian refiners are unlikely to pick up much spot Middle Eastern crude cargoes over the June and July trading cycle as several state-run refineries mull cutting down their operation rates and reduce middle distillates production amid faltering domestic fuel demand, putting a downward pressure on the Dubai crude market structure. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Many Asian refineries have bee...

Commodities 2021,  OPEC+ Oil Output Cuts Energy security concerns are bubbling beneath the surface as the global oil market seems to be entering into the early stages of recovery from the pandemic. While OPEC+ can provide the necessary crude as demand recovers in the near term, there may be a lack of firepower from the rest of the oil-producing fraternity further down the line. But the recent rise in oil prices could be just what the world needs. Dated Brent, the global phy...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Month to date, Wahas discount to Henry Hub has averaged just 18 cents. On April 21, the West Texas hub was trading near $2.50/MMBtu, narrowing its spread to the US benchmark to 15 cents, data from S&P Global Platts and the Intercontinental Exchange showed. After hitting record-high price premiums during the February production freeze, Wahas cash market quickly returned to discounte...

Caltex lets you power a future-ready business through partnership April 22, 2021 | 8:57 am Make your mark in the fuel industry with the Caltex Advantage While the pandemic prompted an economic slowdown, a recent report by Platts Analytics forecasts that oil demand in Asia will bounce back in 2021[1]. As the economy continues to reopen, Chevron Philippines Inc. (CPI), marketer of Caltex brand of fuel and lubricants, provides investors with an opportunity to build an edge in the market while bein...