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Oil | Natural Gas | Electric Power | Coal | Shipping | Petrochemicals | Metals | Agriculture

Oil

London (Platts)--24 Feb 2017 900 am EST/1400 GMT
UK oil production rose for a second year in a row in 2016, increasing by 5% to 1.01 million b/d of oil equivalent, according to figures released Thursday, encouraging those who argue the North Sea industry still has life in it yet. For the full year, UK crude output increased by 3.2% to 914,000 b/d, while output of natural gas liquids rose 30% to 99,000 b/d, the government's department for business, energy and industrial strategy said. "Following strong production in 2015, crude oil production from the North Sea has been steady from fields that feed into the Flotta and Forties terminals," the department said.
Singapore (Platts)--24 Feb 2017 646 am EST/1146 GMT
Singapore-listed China Aviation Oil targets to consolidate its relationship with China's independent refineries in 2017 to build a foundation for a sustained and gradual increase in crude oil trading volumes in future rather than a sudden jump, CEO Meng Fanqiu said Thursday, while announcing the company's 2016 financial result.
Houston (Platts)--23 Feb 2017 537 pm EST/2237 GMT
Gulf Coast conventional gasoline and CBOB found multimonth highs at midweek and maintained those highs Thursday at the end of a shipping cycle and on the back of a Gulf Coast area refinery outage.
Dubai (Platts)--23 Feb 2017 835 am EST/1335 GMT
Heavy crude from the Shaikan field in the north of Iraq will no longer be injected into the export stream to the Turkish Mediterranean port of Ceyhan, the field's operator, Gulf Keystone, said Thursday.
Singapore (Platts)--23 Feb 2017 1253 am EST/553 GMT
Singapore will need to strike the right balance in implementing a planned carbon tax from 2019 to ensure its refining industry remains competitive as the sector faces headwinds from volatile margins, growing exports from China and rising capacity in the region.
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Natural Gas

London (Platts)--24 Feb 2017 903 am EST/1403 GMT
The Dutch Council of State, the country's top administrative court, will hear in May the full slate of appeals against the government's Groningen gas extraction policy, it said Friday.
Singapore (Platts)--23 Feb 2017 1003 pm EST/303 GMT
With domestic production faltering and pipeline import projects still uncertain, Pakistan's dependency on LNG imports is unlikely to fade away, especially since global oversupply and low LNG prices are set to continue helping the country resolve its decade-long energy crisis.
Houston (Platts)--23 Feb 2017 531 pm EST/2231 GMT
Fort Worth, Texas-based Range Resources, in its first full quarter since the closing of its acquisition in September of rival producer Memorial Resource Development, reported record average daily production of 1.854 Bcf of gas equivalent during the fourth quarter of 2016.
Warsaw (Platts)--23 Feb 2017 837 am EST/1337 GMT
Construction will soon start on the 72-km (45-mile) Hermanowice-Strachocina gas pipeline which is an important element in integrating the Polish gas network with the Slovakian and Ukrainian systems, the Polish natural gas transmission system operator, Gaz-System, said Thursday.
London (Platts)--22 Feb 2017 844 am EST/1344 GMT
Norwegian state-controlled Statoil plans to bring its Aasta Hansteen gas field online in the fourth quarter of 2018, a company spokesman said Wednesday, later than the Q4 2017 originally hoped for.
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Electric Power

London (Platts)--24 Feb 2017 905 am EST/1405 GMT
UK day-ahead power contracts held steady on Friday as strong wind generation continued to keep the market well supplied.
Louisville, Kentucky (Platts)--22 Feb 2017 626 pm EST/2326 GMT
The Midcontinent Independent System Operator has approved Northern Indiana Public Service's plans to retire two units at its 480-MW Bailly baseload coal-fired plant by mid-2018, part of the planned evolution of the NiSource subsidiary's generation fleet, officials said Wednesday.
Barcelona (Platts)--22 Feb 2017 846 am EST/1346 GMT
Spain's large power consumers increased their electricity consumption by 2.0% year on year in January, according to a benchmark index published by grid operator Red Electrica de Espana, or REE, Tuesday.
London (Platts)--21 Feb 2017 924 am EST/1424 GMT
UK day-ahead power contracts eased further on Tuesday as ongoing mild weather and strong wind availability kept prices under downward pressure.
London (Platts)--20 Feb 2017 915 am EST/1415 GMT
The first of 70 offshore wind turbines has been installed at Wikinger, Iberdrola's 350 MW project in the German Baltic Sea, the Spanish utility said Monday.
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Coal

Sydney (Platts)--24 Feb 2017 906 am EST/1406 GMT
Anglo American's Australian Drayton South coal project in the Upper Hunter Valley of New South Wales has once again been rejected by the state's planning commission, the Planning Assessment Commission said Thursday.
New Orleans (Platts)--23 Feb 2017 543 pm EST/2243 GMT
Subsidies for renewable and even nuclear generation are an increasing concern for the US thermal coal industry, Rob Hardman, vice president of fuel supply at Dynegy, said Thursday at the World Trade & Transport Conference in New Orleans, Louisiana.
Singapore (Platts)--23 Feb 2017 237 am EST/737 GMT
Demand for seaborne thermal coal is expected to exceed supply by about 400 million mt by 2030, with new coal-fired electricity capacities coming onstream, according to Noble Group.
London (Platts)--22 Feb 2017 1111 am EST/1611 GMT
Taiwan imported 65.32 million mt of thermal coal in 2016, down 2% on the year to the lowest annual volume since 2012, as shipments from Indonesia and Russia dropped, customs data showed Wednesday.
London (Platts)--21 Feb 2017 928 am EST/1428 GMT
Combined coal stocks at three delivery terminals in Northwest Europe's Amsterdam-Rotterdam-Antwerp trading hub slipped a further 3.86% over the week, as end users continued to draw down on port inventories following a recent cold snap and lifting of transport restrictions.
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Shipping

Singapore (Platts)--24 Feb 2017 912 am EST/1412 GMT
After posting two consecutive years of record bunker sales, Singapore, the world's top bunkering port, might see a moderation in growth rate in 2017 amid expectations that sales from Russia could rebound following the near-completion of its refinery modernization spree.
Singapore (Platts)--24 Feb 2017 907 am EST/1407 GMT
The Maritime and Port Authority of Singapore has moved to address the concerns of bunker barge operators in Singapore whose tankers were fitted with mass flow meters three years ago and were scheduled for a re-calibration by granting shorter validation extensions through a quicker process.
London (Platts's)--24 Feb 2017 906 am EST/1406 GMT
Freight rates on the grains route from Santos, Brazil to the Far East have increased by $1.50/mt from the beginning of the week to $25.25/mt ahead of the imminent start of the main South American grains export season in March.
Houston (Platts)--22 Feb 2017 1223 pm EST/1723 GMT
The Panama Canal's drive to go greener may see LNG bunkering emerge as the biggest winner.
London (Platts)--22 Feb 2017 930 am EST/1430 GMT
Bunkering operations have resumed at part of the port of Gibraltar, after it closed earlier because of bad weather, a spokesman for the port authority said Wednesday.
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Petrochemicals

London (Platts)--24 Feb 2017 913 am EST/1413 GMT
European benzene and styrene prices were rebounding strongly Friday from a mid-week lull tracking bullishness in the Asia market, S&P Global Platts data showed.
London (Platts)--24 Feb 2017 914 am EST/1414 GMT
European polystyrene and acrylonitrile butadiene styrene market participants are preparing for another price rise in March because of a pick-up in demand and rising feedstock prices, sources said this week.
Houston (Platts)--23 Feb 2017 533 pm EST/2233 GMT
US-based Shintech will raise caustic soda prices by $60/dry st, becoming the latest US producer to increase prices, a source with knowledge of company operations said Thursday.
London (Platts)--23 Feb 2017 840 am EST/1340 GMT
A cocktail of factors including methanol spot prices at multi-year highs in Europe, indications from Asia, and tight logistics has led to expectations the second-quarter contract price will be at least 10% higher than the first quarter.
Singapore (Platts)--23 Feb 2017 239 am EST/739 GMT
China Petroleum and Chemical Corporation, or Sinopec, subsidiaries raised ex-works orthoxylene offers in East China by Yuan 200/mt Wednesday, the second increase this year, a source close to the matter said Thursday.
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Metals

London (Platts)--24 Feb 2017 917 am EST/1417 GMT
European ferrovanadium prices have fallen this week, with sources saying tight supply was not supporting prices given demand was soft.
Singapore (Platts)--24 Feb 2017 915 am EST/1415 GMT
While steel prices have been healthy, market sources say manganese ore prices to China will continue to be sickly until steel production increases.
Singapore (Platts)--24 Feb 2017 916 am EST/1416 GMT
The Chinese domestic price of iron ore concentrates surged over the week by Yuan 85/dry mt ($12.40/dmt), or 11.5%, to a 30-month high, mirroring fresh highs for domestic billet and imported iron ore, market sources said Friday.
Pittsburgh (Platts)--23 Feb 2017 324 pm EST/2024 GMT
American steelmakers are prepared to supply the steel pipe needed for domestic pipeline projects, US Steel CEO Mario Longhi said Thursday following a meeting with President Donald Trump at the White House.
Hong Kong (Platts)--23 Feb 2017 850 am EST/1350 GMT
Zijin Mining said Wednesday its 51%-owned mining subsidiary Xinjiang Ashele Copper has signed a 2017 term contract for the supply of a maximum 21,000 mt of copper in concentrate to buyer Xinjiang Non-ferrous Materials.
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Agriculture

London (Platts)--24 Feb 2017 918 am EST/1418 GMT
The European biodiesel premiums to ICE gasoil futures reached a more than seven-month low on Thursday as global vegoils continued their downtrend and gasoil rose on the day, leaving the BO-GO spread down $19.98/mt to $213.64/mt, a drop of 8.6% on the day and almost 14% on the week.
Houston (Platts)--23 Feb 2017 532 pm EST/2232 GMT
Chicago Board of Trade front-month soybean oil futures Thursday reached their lowest level since September 16, 2016, due in part to expectations of a large crop in South America.
London (Platts)--23 Feb 2017 1111 am EST/1611 GMT
The German biodiesel blending rate fell to 5.61% in 2016 from 5.83% in 2015 and ethanol blending rose to 5.78% from 5.73%, preliminary data published Thursday by German export agency BAFA show.
San Diego (Platts)--21 Feb 2017 355 pm EST/2055 GMT
President Donald Trump supports the ethanol industry, Renewable Fuels Association President Bob Dinneen reassured the audience during his opening remarks Tuesday at the National Ethanol Conference in San Diego.
London (Platts)--20 Feb 2017 937 am EST/1437 GMT
Biodiesel premiums in Europe ended last week at their lowest in over half a year as global vegoils continued their downwards trend.
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