Spring 2019 is ushering in important political changes that are
being watched for their impact on oil and other commodities.
In Algeria new leadership was promised recently, following widespread protests. That’s fuelled discussion about the future of the country’s oil and gas industry.
Then on March 19, Kazakhstan’s president, Nursultan
Nazarbayev, announced his resignation after nearly 30 years in power. The
surprise announcement has similarly prompted questions about the direction oil
and gas policy will take, after
changes to tax legislation started to show signs of success in
attracting new investment.
Away from politics, Australian commodity producers and infrastructure operators were bracing for disruption as Cyclone Veronica headed towards Western Australia. Port Hedland and Port Dampier were cleared of commercial vessels, which could put a hold on iron ore exports for several days. Oil trade through both ports is also likely to be affected, as well as LNG, which is exported from Port Dampier.
GRAPHIC OF THE WEEK
VIDEO: LNG IN EUROPE
European LNG Chronicles: The Russia question
One year ago, markets were uncertain if Europe would, or even could, absorb the record levels of LNG forecast by Platts Analytics to be coming its way.
Today, with total LNG imports into Northwest Europe more than doubling and expected to remain elevated through the rest of the year, Senior LNG Analyst Samer Mosis says the question is no longer if, but for how long Europe will be able to continue importing this level of LNG.
WOMEN IN ENERGY
Gender diversity – and what US refiners are doing to get there – was a
main theme in this year’s annual meeting of refiner trade group, the American
Fuel & Petrochemical Manufacturers, held in San Antonio.
sanctions on Venezuela are driving freight rates for clean oil products heading
across the Atlantic to the country to enormous premiums, according to shipping
The UK government will not be rolling out use of E10
gasoline before 2021, a representative of the Department for Transport said
THE LAST WORD
“There are vulnerable customers and France has shown us you need a social perspective. If we move too fast, and the transition is too costly you risk a backlash like the yellow vest movement.”
– E.ON CEO, Johannes Teyssen, speaking about the challenges of decarbonizing heat systems at the Aurora Spring Forum in Oxford, March 19.