- Global Energy Infrastructure
Russia may introduce quotas on overseas fuel exports if a complete export ban imposed last week does not succeed in bringing down persistently high gasoline and diesel prices.
Ultra low-sulfur diesel loadings from the Russian Baltic Sea port of Primorsk are set to fall in October by 80% month on month on a daily basis to 210,000 metric tons from 1.08 Mmt scheduled for September.
Russia has not discussed with the OPEC+ group of leading oil producers a possible crude oil supply increase to compensate for Russia's fuel exports ban.
Boilers / Carbon Management / Diesel / Economics / Engineering & Design / Environment / Greenhouse Gases
The shipping industry lacks clarity on future clean fuels and regulatory systems which is holding back companies from replacing ageing vessels amid pressure to decarbonize faster.
Russia said it had temporarily banned gasoline and diesel exports to all but four ex-Soviet states in response to domestic shortages, a move that will disrupt global trade that has already had to adjust to Western sanctions on Russian fuel exports.
Portuguese oil company Galp said it had teamed up with Japan's Mitsui to invest $426 MM in an industrial-scale plant to produce biodiesel and biojet fuel from waste at its Sines refinery.
The Russian government has approved some changes to its fuel export ban, lifting the restrictions for fuel used as bunkering for some vessels as well as diesel with high content of sulfur.
Oil prices held steady after Russia relaxed its fuel ban, taking the edge off earlier gains on a tighter supply outlook and wariness over interest rates that could curb demand.
Oil prices rose as renewed global supply concerns from Russia's fuel export ban counteracted fears that slowing economies and high interest rates could crimp demand.
Asia/Pacific / Economics / Crude oil / Natural Gas / Gasoline / Diesel / Environment / Greenhouse Gases
The complete phasing-out of fossil fuels is not realistic, China's top climate official said, adding that these climate-warming fuels must continue to play a vital role in maintaining global energy security.
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