Sunday, March 25, 2018

Europe News

Chinese Diesel to be Shipped 'west' in VLCC

File Image (CREDIT: AdobeStock / (c) Carabay)

Newly built vessel to load from Tianjin refinery a cargo of10ppm sulphur diesel meeting summer specs. In a rare shipment, a diesel cargo will be loaded into a very large crude carrier (VLCC) from a refinery at China's Tianjin port next month before heading to Europe or West Africa.

Trafigura Moves Hedging from Europe, Leads U.S. Exports Race

File Image (CREDIT: AdobeStock / (c) Kasto)

Firm moves away from new tighter EU regulations and becomes largest exporter of U.S. crude. Trading giant Trafigura has moved its commodities hedging operations to the United States and Asia and away from Europe to avoid being subject to new, tighter MiFID II market regulations.

Offshore Achievement Award winners Announced

From left to right John Fraser (Sparrows Group), Laura Steedman (BP), Ray Riddoch (Nexen Petroleum U.K. Limited) Photo courtesy of SPE Aberdeen

Winners of the 2018 Offshore Achievement Awards were announced last night {22 March} in a celebration of industry talent, innovation and enthusiasm. The Society of Petroleum Engineers (SPE) Aberdeen Section revealed the 11 winners to an audience of more than 450 people…

Russia Ramps up Fuel Exports in Fight for European Market

© Mikhail Perfilov / Adobe Stock

Russia plans to sharply increase fuel exports and carve out a larger share of the European market following an extensive $55 billion modernisation of its refineries, companies' plans and analysts' reports show. Russia embarked on a modernisation of its biggest refineries in 2011 following a fuel shortage crisis.

Britain to Stay in EU Carbon Market until 2020

File Image (CREDIT: AdobeStock / (c) Snap Happy)

Britain intends to remain in Europe's emission trading system (ETS) until at least the end of its third trading phase running from 2013-2020, Britain's energy minister said on Wednesday. The status of Britain's participation in the scheme following the country's…

Germany: EU Should Present United Response to U.S. Tariffs

Germany's transatlantic coordinator told a group of newspapers that the European Union should take a common line in responding to proposed U.S. steel and aluminum tariffs. After visiting Washington, Juergen Hardt - a member of Chancellor Angela Merkel's Christian…

Norway Calls in Mediator to Avert Strikes

© donvictori0 / Adobe Stock

Norwegian employers and labor unions failed to reach a deal in initial wage talks on Thursday, union sources told Reuters, leaving it up to a state-appointed mediator to avert widespread strikes that risk impacting output in western Europe's biggest crude producer.

Sweden's Vattenfall to Cut 1,500 Jobs

Magnus Hall (Photo: Vattenfall)

Sweden's state-owned utility Vattenfall said on Monday it would cut 1,500 full-time positions among its employees and consultants by 2020 as part of a long-running drive to boost competitiveness and profitability. The announced job cuts form part of a 2 billion…

Offshore Wind May Account for 10 pct of Europe's Power in 2030

file Image (Siemens)

Electricity produced by offshore wind farms could meet as much as ten percent of Europe's total demand for electricity by 2030, up from 1.5 percent in 2017, as turbines grow ever bigger, industry association WindEurope said on Thursday. The North Sea will be the biggest region for Europe's offshore wind…

At 3-Year Low, UK Gas Prices Show No Russian Supply Fears

Wholesale spot British gas prices fell to a three-year low on Friday as ample supply and warm weather outweighed fears of possible cuts in Russian supply via Ukraine. Gas for delivery next week dropped to 43.80 pence per therm, the lowest level since September 2011…

Oil Producer Norway Starts Wage Talks to Avert Widespread Strikes

© Elmer Laahne / Adobe Stock

Norwegian employers and labour unions embarked on four weeks' of wage talks on Monday to stave off widespread strikes that risk impacting output in western Europe's biggest crude producer. Unlike most years, in which wages are set on an industry-by-industry basis to reduce complexity…

Serbia, Russia Revive Gas Pipeline Plans

Photo: Gazprom

Russia and Serbia have revived an idea of building a gas pipeline in the Balkan country, a project that would enable Gazprom to step up its gas supplies to Europe, bypassing Ukraine. The Serbian pipeline will be linked to Bulgaria and Hungary via two interconnectors to ship Russian gas from the TurkStream pipeline.

Unwanted Diesel, Jet Ships Could Sink Oil Prices

Backlog of vessels at port threaten loading delays; ships with half a million tonnes taking the long route to Europe. Unwanted diesel and jet fuel cargoes are backing up outside Europe's ports and taking longer, slower routes around the southern tip of Africa, traders say.

Russia Must Speed Up European Gas Pipeline Projects - Novak

© WestPic / Adobe Stock

Russian Energy Minister Alexander Novak said on Tuesday that Russia should speed up work on agreeing gas export pipeline projects in Europe due to tensions with Ukraine over transit gas. "In my opinion, we should speed up (the realisation of projects) to mitigate the risks we're having today…

EU, Ukraine Hold Talks on Gas, Tensions Climb

Ukraine's energy minister, EU officials and industry representatives held talks on Tuesday on cutting reliance on Russian gas as tension with Moscow drove home the urgency of finding alternative energy sources and supply routes. Concerns reached a new pitch…

France's Engie Exploring Sale of German Power Plants

© Irina K. / Adobe Stock

French energy group Engie is considering selling its power plant assets in Germany in a deal that could fetch a few hundred million euros, two people familiar with the process told Reuters. Engie owns or holds stakes in three hard coal-fired power plants in Germany.

AISUS Bags Contract in the Middle East

AISUS - Stuart Lawson credit AISUS

Offshore inspection company AISUS  announced its first major contract win in the Middle East with North Oil Company (NOC). The six-figure agreement marks a  milestone for the firm and provides the foundation on which the company plans to build its growing business in the Middle East.

Well-functioning Energy Market Key to Europe

Rune Bjørnson

There is a pressing need to change Europe's energy policy framework to make it more predictable and market oriented. “The good news is that it can be done. The ongoing process in Europe of establishing an energy and climate policy framework post-2020 is a golden opportunity to achieve this,” said Bjørnson.

Exxon Mobile Interested in Working in Algeria, Sonatrach CEO says

© beawolf / Adobe Stock

U.S. oil major Exxon Mobil Corp has shown an interest in working in Algeria, the head of state energy firm Sonatrach said on Tuesday. "It is important to highlight that a big major Exxon Mobil has shown an interest to come to Algeria," Abdelmoumen Ould Kaddour told reporters, without giving further details.

Ocean Energy Europe Appoints Co-Presidents

Photo courtesy of Ocean Energy

Ocean Energy Europe has elected Thierry Kalanquin (DCNS) and Simon de Pietro (DP Energy) as its new co-Presidents. The pair will combine the expertise of an industrial scale technology manufacturer and a prominent renewable energy developer to help steer Europe’s…