Fuel News

US Poised To Become Net Exporter Of Crude Oil

credit: Venti views_unsplash

The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II, says an article published on Pgjonline.

Leading exporter

Sales of U.S. crude to other nations are now a record 3.4 million barrels per day (bbl/d), with exports of about 3 million bbl/d of refined products like gasoline and diesel fuel.

The United States is also the leading liquefied natural gas (LNG) exporter, where...

https://mfame.guru/us-poised-to-become-net-exporter-of-crude-oil/

First Hydrogen Produced At Europe’s Largest Electrolyser

credit: Venti views_unsplash

Everfuel A/S is pleased to announce the production of first hydrogen at HySynergy, says an article published on cision.

Major milestone

The initial volumes produced today at Europe’s largest electrolyser, represent a major milestone towards the commercialisation of green hydrogen as a clean source of energy for industry and mobility.

Commissioning phase

The hydrogen was produced from the first set of electrolyser stacks as part of the planned start-up and testing of...

https://mfame.guru/first-hydrogen-produced-at-europes-largest-electrolyser/

ICE Warns That The TTF Gas Market May Not Be Viable

Credits: Alvarez/Unsplash

According to a memo given to member states and obtained by the Financial Times on December 15, commodity exchange operator ICE warned of a risk to the TTF gas market’s viability if the EU moves forward with a price cap.

Risk management

The EU energy ministers will get together once more on December 19 to work out an agreement on a market correction mechanism that would control the price of TTF gas if it rose above a certain threshold.

The technique would be placed on...

https://mfame.guru/ice-warns-that-the-ttf-gas-market-may-not-be-viable/

World’s Biggest Banks Will No Longer Finance New Oil And Gas Fields

Credits: Venti Views/Unsplash

The biggest banks in the world has announced that it will no longer fund new oil and gas fields, says an article published on their Euro News.

Final approval

HSBC – the largest bank in the UK and the seventh largest in the world – will not support oil and gas projects that received final approval after the end of 2021.

This is a necessary step if the world is to reach net-zero emissions by 2050, the International Energy Agency has said.

Banks committed to net-zero

The...

https://mfame.guru/worlds-biggest-banks-will-no-longer-finance-new-oil-and-gas-fields/

Singapore’s Bunker Sales Grow For Second-Consecutive Month

Credit: Korie Jenkins Unsplash

According to preliminary figures from the Maritime and Port Authority of Singapore, Singapore’s total bunker sales reached their highest levels this year, says an article published on Engine.

Average stem size

A total of 3,299 vessels arrived for bunker calls in November, which was lower than 3,431 vessels in October. But the average stem size was about 86 mt larger than in October, at 1,324 mt.

Total VLSFO sales

VLSFO sales increased by 6% in November. But total VLSFO...

https://mfame.guru/singapores-bunker-sales-grow-for-second-consecutive-month/

Long-term Imports Of GCC Crude Oil By China Will Continue

Credit: Zbynek Burival/Unsplash
  • Energy cooperation is first priority
  • Beijing also extended support to regional nuclear ambitions
  • Saudi Arabia is China’s top oil supplier

A recent news article published in the Platts states that China opens door to trade crude oil and natural gas in Yuan.

The world’s largest buyer of crude

China, the world’s largest buyer of crude, has opened the door to trading crude oil and natural gas in its local currency, rather than the US dollar, although it’s not clear a...

https://mfame.guru/long-term-imports-of-gcc-crude-oil-by-china-will-continue/

BP Doubles Down On Hydrogen As Fuel Of The Future

Credits: Viktor Kiryanov/ Unsplash
  • BP has overhauled its structure to create a dedicated hydrogen division led by Felipe Arbelaez which includes 150 staff.
  • BP’s project at its Whiting refinery will initially replace around 200,000 tonnes of grey hydrogen used by the refinery every year with blue hydrogen.
  • BP acquired in June a 40.5% stake in a 26 gigawatt renewables project in Australia that could produce green hydrogen.

BP chief executive Bernard Looney is betting on hydrogen to power future...

https://mfame.guru/bp-doubles-down-on-hydrogen-as-fuel-of-the-future/

MAN 49/60DF Designed With Future Retrofits In Mind

Unsplash

The new MAN 49/60DF is available as an in-line engine with 6, 7, 8, 9 or 10 cylinders or as a V-type engine with 12 or 14 cylinders. Its output ranges from 7,800 to 18,200 kW.

Main engine

It is available as a main engine for mechanical or electrical propulsion. Its high configuration flexibility makes it ideal for numerous applications such as cruise ships, RoPax, RoRos, dredgers and LNG carriers. The MAN 49/60DF is based on a new 49/60 engine platform designed for a variety of...

https://mfame.guru/man-49-60df-designed-with-future-retrofits-in-mind/

Russian Oil Price Cap Cause Tanker Bottleneck

credit: Venti views_unsplash

New Turkish insurance rules on oil tankers carrying Russian crude continue to slow down the movement of tankers off the coast of Turkey and between Russia’s Black Sea ports and the Mediterranean, says an article published on Cncb.

Insurance clearance

Sixteen vessels (none Russian-flagged) are waiting for insurance clearance, according to MarineTraffic, and that number is expected to grow.

Russian-flagged tankers

Based on MarineTraffic data, 35 vessels including nine...

https://mfame.guru/russian-oil-price-cap-cause-tanker-bottleneck/

Asia ‘Could’ Absorb Half the Russian Crude Displaced After EU Sanctions

Credits: Zbynek Burival/Unsplash
  • About half of displaced Russian crude may flow to Asia: S&P Global
  • $60/b EU price cap may see limited immediate impact on flows to Asia
  • Platts assessed Urals FOB Primorsk at $55.79/b Dec. 1

Asia may be able to incrementally absorb only half the Russian crude volumes displaced as a result of the European Union sanctions taking effect, and the price cap of $60/b may not be able to create immediate hurdles for oil flows from the non-OPEC supplier, analysts and...

https://mfame.guru/asia-could-absorb-half-the-russian-crude-displaced-after-eu-sanctions/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.