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NewBase 28-November -2022 Energy News issue - 1569 by Khaled Al Awadi.pdf

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Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of ...
Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of ...
Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of ...
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NewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al Awadi

NewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al AwadiNewBase 28-November -2022 Energy News issue - 1569 by Khaled Al Awadi

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NewBase 28-November -2022 Energy News issue - 1569 by Khaled Al Awadi.pdf

  1. 1. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 1 NewBase Energy News 28 November 2022 No. 1569 Senior Editor Eng. Khaed Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE UAE plans to invest nearly Dh600 billion in clean energy Khaleej Times Waheed Abbas The UAE has set ambitious targets for the energy sector and plans to invest around $163 billion (nearly Dh600 billion) in clean energy to support the goals of climate neutrality. This was stated during a speech by engineer Youssef Al Ali, Assistant Undersecretary for the Electricity, Water and Future Energy Sector at the Ministry of Energy and Infrastructure, which was delivered on his behalf by engineer Fahad Al Hammadi, an energy policy expert at the ministry. The measures taken in relation to energy and climate are a top priority on the national agenda and rank high among the UAE's goals for the next 50 years, the ministry said. They are also a major element in the Net Zero by 2050 strategy that the UAE rolled out to cut down emissions. The Emirates is the first country in the Mena region to announce its goal to achieve climate neutrality. t “The UAE pursues its ambitious plans in the field of energy, especially clean ones, as the state plans to invest around $163 billion in clean energy and supports the goals of climate neutrality.
  2. 2. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 2 “Furthermore, the state is currently working to re-evaluate its national priorities by combating climate change and looking for new economic growth opportunities, increasing social benefits, and ensuring future readiness for the next 30 years,” Al Hammadi said during the speech given at The Journey to Net Zero conference hosted by Khaleej Times on Wednesday. The forum was sponsored by sustainability partner Accenture, Gold Sponsor Trane Technologies, Silver Sponsor Fugro, and supported by Clean Energy Business Council, Middle East Solar Industry and Energy Industries Council Mena. The Dubai Supreme Council of Energy officially endorsed the forum. Al Hammadi added that the UAE has established its global position in the clean energy sector that supports environmental sustainability and cutting down carbon emissions. He revealed that Al Reyadah Project is the first facility in the Mena region to capture, use and store carbon on a commercial scale. “However, the electric energy consumed by the National Oil Company is sourced from carbon- free nuclear and solar power,” he said. Al Hammadi confirmed that the state invested in renewable projects across more than 40 developed and developing countries, as well as in peaceful nuclear energy, and is currently laying clear foundations for relying on hydrogen energy, which is essential to achieving net zero emissions. He stressed that the UAE seeks to have stronger cooperation with its strategic partners — locally, regionally and globally — to tap into innovation, modern technology and the fourth industrial revolution in developing the energy, electricity, and water sectors.
  3. 3. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 3 Saudi Sabic eyes new oil-to-chemicals project in Saudi Arabia TradeArabia News Service + NewBase Sabic, a global leader in diversified chemicals, is considering setting up a complex in Ras Al Khair region that will convert oil and liquids into petrochemicals. The firm will be conducting a study in co- operation with Saudi Ministry of Energy and oil giant Aramco. The project, which is part of Sabic's strategic growth plans, will contribute to the realization of the kingdom’s programme to convert oil and its liquids into chemicals. Once operational, the complex is expected to convert 400,000 barrels per day of oil into chemicals, it stated. On the new project, CEO Engineer Abdulrahman Al Fageeh said: "Sabic will start studying the project in cooperation with the Saudi Ministry of Energy and Saudi Aramco, to achieve the desired goal of maximizing the benefits of the hydrocarbon resources for the company's shareholders, strengthening its global position, developing its human capabilities, preserving its technical know- how, supporting its customers locally and globally, and contributing to achieving the goals of Saudi Vision 2030." Sabic also affirmed its commitment to continue developing crude oil to chemicals technologies, which contributes to increasing cost efficiencies and value creation opportunities in the energy and petrochemicals industry on a larger scale, he added. Key feature of petrochemical and chemical plants is that very long and complicated processes are often required for their removal and the refining of the product materials, due to a variety of by-products generated from the reaction process (a core role of these plants). A variety of operations and equipment are also necessary for that purpose. Based on our long years of experiences in designing processes, we have the ability to construct highly efficient and reliable plants ranging from bulk chemical plants with annual production of 0.1 to 1 million tons such as ethylene plant, to general chemical plants within annual production of ten thousands tons, using our simulation, analysis, design and engineering expertise.
  4. 4. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 4 EU fails to agree gas price cap amid deep divisions Agence France-Presse (AFP) + NewBAse EU energy ministers failed Thursday to agree a cap on gas prices to mitigate the energy crunch in Europe amid deep divisions over an initial proposal slammed by many as a "joke". The ministers will now meet in the first half of December to try to bridge differences, said Czech Industry Minister Jozef Sikela, whose country holds the current presidency of the EU. He added that the ministers did manage to adopt a couple of other "important measures", including joint gas purchases to avoid intra-EU competition driving up prices, supply solidarity in times of need, and hasten ing authorisation of renewable energy sources. Several ministers going into Thursday's meeting complained that the gas price cap proposal on the table, unveiled by the European Commission just two days earlier, was clearly designed to never be used. The Polish and Spanish energy ministers called the proposal a "joke". Greek Energy Minister Kostas Skrekas said the cap "is not actually a ceiling" on gas prices, and "we are losing valuable time without results". The price cap plan -- which the commission was never keen on -- sets a maximum threshold of 275 euros per megawatt hour. But it comes with so many conditions attached that it would not even have been activated back in August, when the gas price briefly soared above 300 euros, alarming Europe used to historic prices around 10 percent of that. - Drop in Russian gas - The cap proposal would only be triggered if the 275-euro limit was breached continuously for at least two weeks, and then only if the price for liquified natural gas (LNG) rose above 58 euros for 10 days within that same two-week period.
  5. 5. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 5 The price of wholesale gas in Europe on Thursday was around 124 euros, according to the main TTF benchmark. The commission's proposed price cap was seen as neutered under pressure from members including Germany and the Netherlands, which feared a cap could divert gas supplies to more lucrative markets, especially Asia. Yet at least 15 EU countries -- more than half the bloc -- want some form of workable ceiling on wholesale gas prices to tackle a crunch in supply forced by Russia's war in Ukraine. While the European Union hasn't banned Russian gas, the Kremlin has been turning off the taps in retaliation for sanctions imposed by Brussels in the wake of Moscow's invasion. Before the war, Russian gas supplies accounted for more than 40 percent of all imported gas into the European Union, with export powerhouse Germany particularly needy. That has now dropped to less than 10 percent. But alternative sources -- such as LNG shipped from the United States and the Gulf -- cannot make up the shortfall, and Europe faces a pricey heating bill for winter. EU energy commissioner Kadri Simson acknowledged the divisions over the price cap as she went into the meeting. She noted that the ministers have "a right to calibrate the different parameters" if they wished -- something that may happen in time for their next meeting, likely to be called for December 13. The price cap plan, if adopted, would start in January. It would run alongside a voluntary initiative for EU member states to cut natural gas use by 15 percent over the northern hemisphere winter.
  6. 6. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 6 NewBase November 28 -2022 Khaled Al Awadi NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Oil falls over $2 a barrel as China's COVID protests fuel demand fear Reuters + NewBase Oil futures fell more than $2 a barrel on Monday, with WTI hitting an 11-month low, as protests in top importer China over strict COVID-19 curbs fuelled demand concerns. Brent crude dropped $2.16, or 2.6%, to trade at $81.47 a barrel at 0230 GMT, after diving to $81.16 earlier in the session -- its lowest since Jan. 11. U.S. West Texas Intermediate (WTI) crude slid $2.08, or 2.7%, to $74.20 a barrel. It fell as far as $73.82 earlier -- its lowest since Dec. 27, 2021. Both benchmarks, which hit 10-month lows last week, have posted three consecutive weekly declines. Brent ended the latest week down 4.6%, while WTI fell 4.7%. "On top of growing concerns about weaker fuel demand in China due to a surge in COVID-19 cases, political uncertainty, caused by rare protests over the government's stringent COVID restrictions in Shanghai, prompted selling," said Hiroyuki Kikukawa, general manager of research at Nissan Securities. WTI's trading range is expected to fall to $70-$75, he said, adding the market could stay volatile depending on the outcome of the OPEC+ meeting and the price cap on Russian oil. Oil price special coverage
  7. 7. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 7 China, the world's top oil importer, has stuck with President Xi Jinping's zero-COVID policy even as much of the world has lifted most restrictions. Hundreds of demonstrators and police clashed in Shanghai on Sunday night as protests over China's strict COVID restrictions flared for a third day and spread to several cities in the wake of a deadly fire in the country's far west. The wave of civil disobedience is unprecedented in mainland China since Xi assumed power a decade ago, as frustration mounts over his zero-COVID policy nearly three years into the pandemic. "Bearish sentiment is growing in the oil market with mounting concerns over demand in China and a lack of clear signs from oil producers to further cut output," said Tetsu Emori, CEO of Emori Fund Management Inc. "Unless OPEC+ agrees on a further reduction of production quota or the United States moves to reload its strategic petroleum reserves, oil prices may be headed further down," he said. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, will meet on Dec. 4. In October, OPEC+ agreed to reduce its output target by 2 million barrels per day through 2023. read more The next OPEC+ meeting will take into account the condition and balance of the market, Iraq's state news agency quoted Saadoun Mohsen, a senior official at the country's state oil marketer SOMO, as saying on Saturday. read more Investors also focused on Western plans for a price cap on Russian oil. Group of Seven(G7) and European Union diplomats have been discussing a price cap on Russian oil of between $65 and $70 a barrel, with the aim of limiting revenue to fund Moscow's military offensive in Ukraine without disrupting global oil markets. But a meeting of European Union government representatives, scheduled for Nov. 25 evening to discuss the issue, was cancelled, EU diplomats said. On Thursday, EU governments were split on the level at which to cap Russian oil prices. The price cap is due to come into effect on Dec. 5 when an EU ban on Russian crude kicks off.
  8. 8. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 8 Asia LNG Prices Jump to Seven-Week High on Winter Supply Concern Bloomberg Asia’s liquefied natural gas spot price rallied to the highest level since early October on concern disruptions to production and the arrival of colder weather in key markets will further tighten supply. The Japan-Korea Marker, North Asia’s LNG benchmark, jumped 20% in the week to Wednesday to $34.24 per million British thermal units, according to traders citing an assessment from S&P Global. An ongoing outage at a key US export plant and forecasts for frigid weather in Europe are seen boosting global competition for the fuel this winter and potentially curbing shipments to Asia, the traders said. While North Asia LNG importers, like Japan and China, are optimistic that they’ve secured enough fuel for winter, supplies remain tight and a sudden cold snap in those nations could quickly deplete inventories. Meanwhile, Asia is in direct competition with energy-starved Europe for a dwindling amount of available LNG. Prices are also being pushed higher by Shell Plc, the world’s biggest LNG trader, which has been bidding to secure spot shipments for delivery to China in January.
  9. 9. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 9 Tender News:  Oman offers two LNG cargoes on a DES basis for 2H Dec. delivery to Asia  Gail issued a swap tender seeking to buy 12 cargoes on a DES basis to India for Jan.-Dec. 2023 delivery in exchange for selling shipments from the US Weather:  Eastern and Western Japan have a 40% chance of seeing warmer-than- normal temperatures over the next month, according to Japan Meteorological Agency’s forecast from Nov. 24  European natural gas prices fluctuated as lower temperatures bring the prospects of a tighter market Stockpiles:  LNG stockpiles held by Japanese utilities rose to 2.61m tons on Nov. 20, and are above the five-year average for the end of Sept.  Europe’s gas storage was at about 95% of capacity on Tuesday compared with the five-year average for this time of year of 85%
  10. 10. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 10 BP signs long-term LNG contract with China's Shenzhen Energy The agreement is the Chinese company's first long-term international LNG contract China's Shenzhen Energy Group has signed a long-term agreement with oil major BP to buy liquefied natural gas, aiming to lock in supplies with gas-fired power generation poised to surge in the world's second-largest economy. The agreement is Shenzhen Energy's first long-term international LNG contract and its first long- term contract with BP Singapore, the Chinese company said in a statement on Friday. The statement did not specify details of the agreement, including the duration of the contract. "To meet the demand of Guangdong province and Shenzhen city for energy security and stability, Shenzhen Energy Group is making efforts to promote the construction of gas power plants," it read. "It is estimated that around 2024, as the gas power plants go into operation, the group's total demand for natural gas will significantly rise." China's LNG importers are widely expected this winter to avoid the spot market, where prices have risen sharply, relying instead on Russian supplies and long-term contracted volumes. Last week, QatarEnergy signed a 27-year deal to supply China Petroleum & Chemical Corporation (Sinopec) with 4 million tons per annum (mtpa) of LNG. The contracted LNG volumes will be supplied from QatarEnergy’s North Filed East LNG expansion project and will be delivered to Sinopec’s terminals in China, Qatar’s state energy company said in a statement. The current strains on gas supply have led to energy shortages in several parts of the developing world that rely on imported gas, notably Pakistan and Bangladesh. Major growth markets for gas, such as India and China, meanwhile sharply reduced their LNG imports in 2022.
  11. 11. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 11 Natural gas markets are expected to remain tight in 2023 as Russia, one of the world’s largest exporters, further reduces supplies to Europe, according to the International Energy Agency. Demand in China and Japan, the world's biggest importers of LNG, was almost unchanged in the first eight months of 2022, compared with the same period a year earlier, while it contracted in India and Korea, the Paris-based agency said in an October report. Demand in China is expected to rise by less than 2 per cent in 2022, its lowest yearly growth rate since the early 1990s. Chinese importers are opting to secure a supplier for the “mid to long term” amid tight supply and increasing volatility in prices, Rystad Energy said in a report this week. The share of contracted volumes in China’s LNG imports has risen to more than 80 per cent this year, compared with about 60 per cent in 2021. Last week, Japan and Thailand signed a preliminary agreement to share LNG during severe shortages. The shutdown of Freeport’s LNG export plant in Texas has added to the squeeze on global gas supplies. Freeport LNG said it was aiming for a partial restart of the terminal, one of the largest in the US, in mid-December, with full renovation expected to be completed by late November.
  12. 12. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 12 NewBase Specual Coverage The Energy world –November -01 -2022 CLEAN ENERGY Russian War Leaves West More Reliant Than Ever on Asian Fuel Bloomberg + NewBase The war in Ukraine is strengthening the role of Asia and the Middle East as the world’s main providers of fuels like diesel and gasoline that are crucial to the global economy. As Europe and the US seek to cut off their dependence on Russian petroleum products, they are facing a shortage of supplies at home. That’s opening opportunities for mega-refineries in places like China and Kuwait to flood the market with fuel. “By turning their back on Russian oil products, Europe and the US are increasing their dependence on long-haul barrels from the Middle East and Asia,” said Eugene Lindell, head of refined products at industry consultant FGE, based in London. Russia’s invasion is creating a greater disparity between the two regions after Western nations significantly cut refining capacity in recent years, while the other side of the world has been expanding. Western markets including the Americas and Europe shut down a net 2.4 million barrels a day of refining capacity in the last three years, while the Middle East and Asia added 2.5 million barrels, according to FGE. That gap is expected to widen. About 8 million barrels a day of new refining capacity is set to come online in the next three years, with Asia adding the most and Europe the least, according to estimates by Rystad Energy.
  13. 13. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 13 “We will see Asia and the Middle East increasingly becoming the fuel suppliers of the world,” said Mukesh Sahdev, head of downstream practice for Rystad. East-West flows of refinery products “will become more structural,” he added. The seismic shift in the global refining industry was hastened during the pandemic, when older plants were shut as global lockdowns decimated oil demand. China has since brought on larger and more sophisticated refineries to meet the nation’s growing need for oil, while the US and Europe have focused on transitioning away from fossil fuels. Consumption of fuels such as gasoline and diesel in the US and Europe will mature ahead of Asia, said Victor Shum, vice president of energy consulting for S&P Global Commodity Insights based in Singapore. Many new refinery projects in Asia have also been constructed in view of the region’s growing petrochemical demand, he said. Russia’s invasion of Ukraine and Western nations’ subsequent sanctions on its fuel supplies took global energy markets by surprise, with fuel security concerns now taking center stage for nations without sufficient refining capacity. In this climate, any refinery outages stemming from worker strikes or unexpected closures will be even more keenly felt across markets. “European governments and their citizens beset with massive utility bills and soaring inflation are now prioritizing the next few years rather than 2040-2050,” said FGE’s Lindell. The West is feeling the strain of having fewer refineries. Northwest Europe’s stockpiles of diesel are dwindling, and will reach their lowest at the start of spring, according to a forecast by Wood Mackenzie Ltd., as the European Union looks to cut off seaborne imports of Russian fuel in February. Meanwhile, rising shortages of diesel and gasoline on the US East Coast are spurring President Joe Biden to consider a mandate requiring oil companies to store more fuel within the country. The gasoline crunch is likely to worsen further toward peak summer driving season, said Rystad’s Sahdev.
  14. 14. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 14 Latin America’s become more reliant on imports as several refineries in the Caribbean shuttered, and facilities in Venezuela and Mexico continue to experience significant outages and low run rates, according to John Auers, managing director at RBN Energy. Mexico is snapping up gasoline from China, where refiners are taking advantage of higher export quotas by running harder and shipping out more. The hauling of petroleum products westward across longer distances is sharply boosting shipping costs and driving a rally in tanker earnings. The volume of fuel transported by sea is 3% higher than averages seen in the last five years, according to Vortexa Ltd. data. That’s led by diesel from Asia and the Middle East to Europe, and volumes may expand as the latter bans Russian supplies, said Serena Huang, lead Asia analyst for Vortexa. Certainly, the US is still a major exporter of diesel, and efforts to strengthen energy security may help alleviate the shortages, but analysts don’t see the capacity gap narrowing anytime soon. “We should see a more realistic energy policy going forward, but the plans for a fossil fuel exit are still there,” said FGE’s Lindell. “It is just that the focus is on the short- to medium-term now, rather than the very long term.”
  15. 15. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 15 NewBase Energy News 28 November 2022 - Issue No. 1569 call on +971504822502, UAE The Editor:” Khaled Al Awadi” Your partner in Energy Services NewBase energy news is produced Twice a week and sponsored by Hawk Energy Service – Dubai, UAE. For additional free subscriptions, please email us. About: Khaled Malallah Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Emarat member since 1990 ASME member since 1995 Hawk Energy member 2010 www.linkedin.com/in/khaled-al-awadi-38b995b Mobile: +971504822502 khdmohd@hawkenergy.net or khdmohd@hotmail.com Khaled Al Awadi is a UAE National with over 30 years of experience in the Oil & Gas sector. Has Mechanical Engineering BSc. & MSc. Degrees from leading U.S. Universities. Currently working as self leading external Energy consultant for the GCC area via many leading Energy Services companies. Khaled is the Founder of the NewBase Energy news articles issues, Khaled is an international consultant, advisor, ecopreneur and journalist with expertise in Gas & Oil pipeline Networks, waste management, waste-to-energy, renewable energy, environment protection and sustainable development. His geographical areas of focus include Middle East, Africa and Asia. Khaled has successfully accomplished a wide range of projects in the areas of Gas & Oil with extensive works on Gas Pipeline Network Facilities & gas compressor stations. Executed projects in the designing & constructing of gas pipelines, gas metering & regulating stations and in the engineering of gas/oil supply routes. Has drafted & finalized many contracts/agreements in products sale, transportation, operation & maintenance agreements. Along with many MOUs & JVs for organizations & governments authorities. Currently dealing for biomass energy, biogas, waste-to-energy, recycling and waste management. He has participated in numerous conferences and workshops as chairman, session chair, keynote speaker and panelist. Khaled is the Editor-in-Chief of NewBase Energy News and is a professional environmental writer with over 1400 popular articles to his credit. He is proactively engaged in creating mass awareness on renewable energy, waste management, plant Automation IA and environmental sustainability in different parts of the world. Khaled has become a reference for many of the Oil & Gas Conferences and for many Energy program broadcasted internationally, via GCC leading satellite Channels. Khaled can be reached at any time, see contact details above.
  16. 16. Copyright © 2022 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 16
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