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Oil products caught between Covid and green push
Most forecasts for products demand and prices have been steadily revised upwards as vaccination programmes have got underway and this has created positive market sentiment, Argus' global head of oil products Stephen Jones told the forum held today during the IP Week conference. But, any actual demand recovery will depend on how quickly governments lift lockdown measures. One major unknown is how well the vaccines will deal with new variants of Covid-19.
read more... 24/02/2021
EU says it does not need Nord Stream 2, but only Germany can block it
The European Union does not need the Nord Stream 2 pipeline for its energy security but any decision to stop the project carrying Russian natural gas to Germany would have to come from Berlin, a senior European Commission official said on Tuesday.
read more... 24/02/2021
how geothermal could help eastern EU countries ditch fossil fuels
Countries like Hungary, Slovakia, Austria, Romania and Croatia sit over the Pannonian basin, which has huge potential for geothermal energy and is over 10°C per kilometre hotter than the European average, making them a prime location for geothermal deployment.
read more... 24/02/2021
Daily (23.02.2021): Oil prices settled at their highest levels since January 2020 amid a gradual recovery of U.S. crude output after winter storms
Crude oil futures rallied on Monday to settle at their highest levels in more than a year amid expectations of a slow recovery in output after last week’s deep freeze in Texas which cut U.S. crude production by as much as 40%. The gains were also attributed to expectations that OPEC+ would continue to curb output. Hence, Brent crude soared by $2.33, or 3.7%, to settle at $65.24 a barrel. Meanwhile, U.S. WTI crude surged by $2.46, or 4.2%, to settle at $61.70 a barrel.
read more... 23/02/2021
EU's 2030 goal requires 400 GW of wind, solar and tough decisions
Adding 162 GW of wind and 253 GW of solar capacity over 10 years, boosting electric vehicle (EV) sales and speeding up coal power plant retirements would result in a reduction of 53% in Europe’s emissions by 2030, but the bloc needs to do more to reach its 55% goal.
read more... 23/02/2021