IMO 2020 could create fierce competition for scarce water resources

The International Maritime Organization (IMO) regulations set to take effect in 2020 have sparked mountains of research on the expected costs for the energy and maritime sectors. Less thought has been given to IMO 2020’s environmental consequences, especially on water demand. The US refining complex will need more water than ever before after IMO 2020 comes into effect. This conclusion is based primarily on forecasting from S&P Global Platts Analytics

US war with Iran unlikely, but would devastate oil markets: Fuel for Thought

Drone attacks on pipelines in Saudi Arabia and the mysterious alleged sabotage of tankers near Fujairah sent pulses racing, but a phony war in the Persian Gulf failed to trigger a feared triple-digit surge in crude prices. A hot war, however, between the US and Iran could be an entirely different matter. Tehran has repeatedly threatened to shut down the Strait of Hormuz in the event of an outright conflict

Energy and commodities highlights: Middle East tensions, Panama Canal, global EV sales

The past week was marked by heightened geopolitical tensions as attacks on ships and oil infrastructure in the Middle East spread jitters through oil markets. On May 12, the UAE government said that four commercial vessels suffered “sabotage” in the Gulf of Oman, without giving more specific details about the nature of the attack. The following day, a drone attack halted flows through Saudi Arabia’s main oil transport pipeline to

Increased trade tensions could squelch US crude flow to China

Escalation of trade tensions between the US and China is likely to further dampen US crude flows to China, at time when China was seen stepping back into the US market following a cooling-off period. Although crude oil imports are not included in the latest round of China’s tariff increases to US goods announced on May 13, the heightened tensions between the two countries has been enough to put the

Insight Conversation: Carole Nakhle, Crystol Energy

Carole Nakhle, CEO of independent consultancy Crystol Energy and founder of Access for Women in Energy, spoke to Paul Hickin about energy transitions and shifting oil and gas politics. How do you see the energy mix changing in the next decade? The global energy mix is unlikely to look much different from today. The lion’s share will continue to be provided by fossil fuels – that is coal, oil and

Energy and commodities highlights: Trade wars, US LNG development, energy digitalization

Commodities and financial markets spent the past week watching for progress in US-China trade talks, but there was no firm outcome ahead of a May 10 deadline, leading to a further escalation of US-imposed tariffs. Without a resolution, a scheduled hike in tariffs kicked in on US imports of $200 billion worth of Chinese goods, from 10% to 25%. Talks were expected to resume on Friday, May 10, but China

Insight from Washington: Does Venezuela need to hit rock bottom to find oil recovery?

For months, the Trump administration resisted calls to sanction crude flows out of Venezuela, fearing the US would be blamed for the ultimate collapse of the South American nation’s once-mighty oil sector. Venezuela’s oil industry was already teetering towards disaster – there was no need for US policy to push it off the cliff. By the time Trump administration officials unveiled sanctions on PDVSA, Venezuela’s state-owned oil company, in January,

Energy and commodities highlights: Crude contamination, alternatives to Iranian oil, China shale gas

https://play.vidyard.com/embed/v4.jsSupply-side issues continued to preoccupy oil markets at the start of May, after Russian crude exports to Central and Eastern Europe were hit by a contamination problem that caused disruption all along the supply chain. Problems with crude quality on Russia’s Druzhba (Friendship) pipeline began to emerge on April 18, and the pipe was subsequently shut down. The Czech Republic, Hungary and Poland responded by releasing emergency stocks. Exports from

US Permian shale takeover battle is a warning for OPEC

OPEC should take note of the $55 billion bidding war raging to buy US oil producer Anadarko. Chevron and Occidental are competing to acquire the unconventional driller. A deal could signal a wave of further consolidation across the Permian Basin and US oil patch, potentially with big implications for the Middle East dominated cartel. Chevron was on track to become the dominant player in US onshore shale before Oxy swept

US hardens stance on Iran but tries to quell oil price concerns: Fuel for Thought

On April 22, the Trump administration dropped its focus on global oil prices, abandoned its already dubious goal of US energy dominance and learned to love hardline policy idealism over economic pragmatism. That was the day the US said it would push to end all Iranian oil exports, refusing to extend waivers to Iran’s biggest crude and condensate buyers that had been allowed to import some Iran crude despite sanctions.