Page 31 - Platts Analytics News Today

As fog persists, LNG tankers back up outside channel to Sabine Pass terminal The queue for tankers waiting to come into Cheniere Energy’s Sabine Pass LNG export terminal was getting longer as fog kept pilot service suspended along the channel serving the Louisiana facility for the second day in a row Feb. 10. Four unladen LNG tankers were anchored in the Gulf of Mexico near the US coast, while two tankers remained moored at the terminal, according to cFlow, S&P Global Platts trade flow softwa...

Iran activates game plan for oil comeback in 2021 in test for Biden administration Emboldened by the change in US presidency, Iran is pushing more oil onto the market, even as sanctions remain in place, as it looks ahead to a full return to the global oil market as demand recovers from the pandemic. Preliminary estimates suggest that Iran many have shipped somewhere between 800,000 b/d to 1 million b/d of crude and condensate last month, largely to China. That is a sharp rise from last year whe...

Biden moves fast on US oil and gas campaign pledges US President Joe Biden has halted a major pipeline project and curbed leasing and permitting on federal lands. The US oil and gas sector now faces a waiting game to see how the administration’s energy policy will evolve, writes Jordan Blum. As a Democratic presidential candidate, Joe Biden pledged to cancel the decade-in-the-making Keystone XL Pipeline and, not so shockingly, he followed through on his first day as US president by revoking t...

The natural gas storage report from the EIA for the week ending January 29th indicated that the amount of natural gas held in underground storage in the US fell by 192 billion cubic feet to 2,689 billion cubic feet by the end of the week, which left our gas supplies 41 billion cubic feet, or 1.5% higher than the 2,648 billion cubic feet that were in storage on January 29th of last year, and 198 billion cubic feet, or 7.9% above the five-year average of 2,491 billion cubic feet of natural gas th...

China was the top destination for US LNG in January for the second month in a row, amid a historic run-up in Asian spot prices and despite ongoing constraints at the Panama Canal, S&P Global Platts Analytics data Feb. 1 showed. The 14 cargoes delivered to China last month tied China’s December mark as the ...

China was the top destination for US LNG in January for the second month in a row, amid a historic run-up in Asian spot prices and despite ongoing constraints at the Panama Canal, S&P Global Platts Analytics data Feb. 1 showed. The 14 cargoes delivered to China last month tied China’s December mark as the highest number of cargoes ever delivered from the US in a single month to one country. December was the first time China had been the top monthly US destination since deliveries resumed in ...

Up to 11 Feb-loading US LPG cargoes to Asia canceled as arbitrage closes, fog disrupts ships Around 10 to 11 LPG cargoes loading in February from the US to Asia have been canceled as the arbitrage narrows due to a two-week retreat in Asian prices and disruptions caused by closures of the Houston Ship Channel since Jan. 20, trade and shipping sources said. The cancellations will reduce US cargo arrivals to Asia to 1.6 million mt in March from 2.3 million mt in February, market sources with close...

Limited refining expansion, high prices cloud China’s 2021 crude import outlook China will witness a positive growth in crude oil imports in 2021, albeit at a slower pace compared with 2020, as a sharp rebound in global oil prices and limited capacity expansion plans at home will limit the appetite of Asia’s biggest oil consumer to buy and maintain plentiful inventories. Analysts told S&P Global Platts that China may not be able to repeat last year’s stellar year-on-year import growth of ...

REFINERY MARGIN TRACKER: Rising RINs costs pump up US refinery margins US refining margins rose last week as higher RINs prices increased the cost of meeting the Renewable Fuel Standard mandate, with RINs for both ethanol and biodiesel breaching the $1/RIN price, an analysis by S&P Global Platts showed Feb. 1. For the week ended Jan. 29, the price of an ethanol RIN rose almost 11 cents/RIN from the week earlier to reach $1.01/RIN while biodiesel RINs rose over 9 cents/RIN to $1.15/RIN, accordin...

S&P Global Platts Analytics cuts 2021 oil demand forecast, raises price outlook Global oil demand will rebound by more than 6 million b/d in 2021 and return to 2019 levels a year later despite the sharp acceleration in COVID-19 infections and new lockdowns which have hit energy consumption from the end of last year, according to S&P Global Platts Analytics. Oil demand is expected to average 99.3 million b/d this year following a contraction of 8.8 million b/d to 93.1 million b/d in 2020, Platts...