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Jet Fuel

Some Colonial Pipeline owners eye stake sales at $10 bln-plus business valuation, sources state

Some of Colonial Pipeline's owners are exploring divesting their stakes, hoping they can fetch rates that would value the biggest U.S. fuel transport system in excess of $10 billion, according to individuals familiar with the matter. Growing U.S. energy intake has raised demand for pipeline capability. Any offer would test the company's worth 3 years after a major cyberattack interrupted its operations. Canadian pension fund Caisse de dépôt et positioning du Québec ( CDPQ) has begun working on the sale of its 16.6% stake in Colonial, while 3 co-owners that jointly represent 55.3% of the equity in Colonial are discussing...

Crude Oil

Goldman expects summertime demand to lift Brent crude to $86/bbl in Q3

A healthy growth in customer costs and strong summer demand will press the oil market to a. 1.3 million barrels each day (bpd) deficit in the 3rd quarter. and raise benchmark Brent costs to $86 a barrel, Goldman Sachs. said. The bank cut its 2024 oil need growth forecast by 0.2. million bpd to 1.25 million bpd, but preserved that it anticipates. demand growth to be robust primarily due to jet fuel recovery. The modest China-driven demand development downgrade for 2024. offsets a 0.1 million bpd cut to non-OPEC supply and an. assumption of greater U.S. tactical petroleum reserve purchases,....

Refined Products

Argentina's YPF denies fuel to Cuban airline company, mentioning US blockade, Cuba states

Argentina's YPF will not provide fuel to Cuban airline Cubana, Cuba's foreign ministry stated late on Tuesday, triggering the staterun provider to shut down a path run between Havana and Buenos Aires for nearly four decades. Cuba stated in April it had been forced to cancel a few of its flights to Buenos Aires amidst a conflict over fuel supply, however on Tuesday stated it had stopped working to strike a deal with Argentina's YPF and high level officials to solve the problem. As an outcome, Cubana de Aviación has actually been required to suspend regular flights in between Cuba...

Environment

Biden group sets out course for ethanol aviation fuel subsidies

President Joe Biden's. administration on Tuesday released assistance on its sustainable. aviation fuel (SAF) aid program that permits cornbased. ethanol to qualify as a feedstock provided it is sourced from. farms that use climatefriendly growing strategies. The strategy is likely to be bittersweet for the politically. powerful U.S. ethanol market that is eager to secure the. aids however had wished for a lower hurdle. Flight so far accounts for about 2% of U.S. carbon. contamination and is one of the fastest growing sources. Biden hopes producing a subsidized market for lower-emissions. SAF can counter that danger, while likewise giving a...

Jet Fuel

Traders scramble for US storage as extracts demand disappoints

Traders are rushing to fill up tank along the U.S. East Coast with extract fuels, like diesel and heating oil, data from storage broker The Tank Tiger showed on Monday, an indication of deepening oversupply that is weighing on refiners' earnings. Mainly warmer-than-expected winter season weather in U.S. Northeast and Europe has cut distillates demand and hit refiners' margins across the globe in recent months, an element that drove softer first-quarter earnings by oil majors and top independent refiners. Spreads between U.S. crude and diesel futures , or fractures that show refining margins, have dropped more than 30% so far...

Refined Products

Cuba says state airline cancelled flights after Argentina rejected it fuel

Argentine jet fuel providers in Buenos Aires refused to service Cuban state airline Cubana this week mentioning issues over U.S. trade sanctions on Cuba, the Havanabased carrier said late on Wednesday, triggering numerous unexpected flight cancellations. Cubana de Aviacion S.A., which runs flights within Cuba and to numerous cities globally, said it had actually cancelled flights on April 23 and 24, as well as other flights contracted to partner airline companies, requiring the business to rebook guests or provide refunds. This choice is due to the refusal of aviation fuel supply business in the Republic of Argentina to offer service...

Energy Markets

Biden administration's initial SAF aid design to raise climate difficulty for ethanol

The Biden administration will launch a preliminary environment design for its sustainable air travel fuel (SAF) aid program in the coming weeks that is more limiting than the cornbased ethanol manufacturers had hoped, two sources knowledgeable about the matter informed . Under the preliminary design, which might be released by May 15, ethanol is not expected to automatically certify as a. feedstock in the SAF subsidy program unless the corn involved is. sourced from farmers using among simply three sustainable. farming techniques, the sources stated. Those methods consist of efficient tilling, use of cover. crops, and effective fertilizer application, the...

Renewable Energy

Brazil's Raizen hunting locations for sustainable air travel fuel plant

Brazil's largest sugarcane ethanol manufacturer, Raizen, has checked out places in Brazil for an ethanolbased sustainable aviation fuel (SAF). plant, intending to construct the world's second ethanoltojet fuel. plant. The proposed project would produce at least 33.3 million. U.S. gallons per year of SAF utilizing ethanol instead of biomass. waste, Paulo Neves, Raizen vice president of trading, informed. on the sidelines of the CERAWeek energy conference on. Thursday. There is inadequate used cooking oil or tallow available in. the world to produce all the SAF that is demanded, stated Neves. Brazil's function as a large ethanol manufacturer positions it to...

Jet Fuel

Japanese firm Area One's Kairos rocket blows up on inaugural flight

Kairos, a little, solidfuel rocket made by Japan's Area One, blew up just seconds into its inaugural launch on Wednesday as the firm tried to end up being the initially Japanese company to put a satellite in orbit. The setback for Space One and the rocket market in Japan comes as the federal government and investors increase assistance for the sector in the middle of a nationwide security accumulation and skyrocketing need for industrial satellites. The 18-metre (59 ft) rocket exploded five seconds after taking off, leaving behind a big cloud of smoke, a fire, fragments of the rocket and...

Oil Refineries

Biden administration's initial SAF subsidy design to raise environment obstacle for ethanol

The Biden administration will release an initial environment model for its sustainable aviation fuel (SAF) aid program in the coming weeks that is more restrictive than what the cornbased ethanol industry had anticipated, 2 sources knowledgeable about the matter told . Under the preliminary model, which could be released by May 15, ethanol is not anticipated to instantly certify as a. feedstock in the SAF aid program unless the corn included is. sourced from farmers using among simply 3 sustainable. agriculture strategies, the sources said. Those strategies consist of efficient tilling, use of cover. crops and efficient fertilizer application, the...

Refined Products

Baltimore fuel providers deal with logistical challenges after bridge collapse

Fuel suppliers in Baltimore will face some trucking hold-ups and other minor logistical issues after the collapse of a significant bridge earlier today shut the city's port indefinitely, market participants said on Wednesday. A cargo ship smashed into the Francis Scott Secret Bridge on Tuesday, triggering parts of the bridge to collapse into shipping lanes at the mouth of the Port of Baltimore, and putting one of the busiest ports on the U.S. East Coast out of service. The bridge's collapse includes hold-ups to fuel shipments that will last numerous months, as fuel trucks that previously utilized the bridge will...

East Asia

Crude Oil

China's refinery output at 6-month low as weak fuel demand hurts

China's refinery output fell 3.7% in June from a year previously, official data revealed on Monday, down for a 3rd month amidst organized upkeep, while lower processing margins and drab fuel demand pressed independent plants to cut output. Refiners processed 58.32 million metric tons of petroleum in June, data from the National Bureau of Stats (NBS) showed, equivalent to 14.19 million barrels daily (bpd), for the year's most affordable levels so far. Output for the very first six months was 360.09 million tons, or 14.44 million bpd, down 0.4% from the matching period last year, the data showed, for the...

Oil Refineries

South Korea's GS Caltex uses June spot gasoil freights, sources state

South Korea's oil major GS Caltex has started its June area conversations for gasoil by means of a sale tender issuance, two sources who got the file stated on Monday. The refiner is looking for to offer two 10ppm sulphur gasoil cargoes packing on June 5-9, June 9-13, one 50ppm sulphur gasoil cargo filling on June 18-22 and one 500ppm sulphur gasoil freight packing on June 1-5, the sources said. The sale tender for these 300,000-barrel cargoes closes on May 14. These deals followed Taiwan's crucial refiners emerged with their June area sales of both gasoil and jet fuel recently...

Jet Fuel

Japan's Space One counts down to inaugural Kairos rocket launch

Japan's Space One will launch its Kairos small rocket on its inaugural journey on Wednesday, in a bid to end up being the very first private firm in the country to put a satellite in orbit. While Japan is a reasonably little gamer in the space race, the country's rocket developers are rushing to construct more affordable cars to record thriving demand for satellite launches from its government and global customers. Taking off from Area One's launch pad in western Japan at 11:01 a.m. (0201 GMT), Kairos will bring a speculative federal government satellite that can be released to momentarily...

South-East Asia

Refined Products

Singapore Airlines posts record annual profit, flags challenging macro

Singapore Airlines on Wednesday posted a record yearly profit and raised its dividend, reflecting strong travel demand in North Asia, but flagged geopolitical problems, supply chain snags and strong competition as difficulties dealing with the sector. The city-state's flag carrier likewise highlighted strength in freight need towards the end of the fiscal year amid a shift to air freight by various carriers due to security concerns in the Red Sea region. Cargo need enhanced towards the end of FY2023/24 on the back of healthy e-commerce demand, durable and growing sectors such as perishables and concerts, the company stated. Singapore Airlines...

Energy Markets

Singapore to impose green fuel levy on flights from 2026

Travellers will need to pay of the shift towards green jet fuel, Singapore's transportation minister said as he announced the city state's prepare for a levy on flight ticket rates as the air travel industry seeks a practical funding design. The plans revealed at an industry top on the eve of the Singapore Airshow go for all leaving flights to utilize 1%. sustainable air travel fuel (SAF) from 2026, rising to 3-5% by. 2030, based on international developments and the broader availability. and adoption of SAF. It will injure our air center and our economy, and raise the. expense of...

Refined Products

Singapore middle extracts fall for first time in 3 weeks

Singapore's middle ditstillates stocks fell for the very first time in 3 weeks, tracking the gains in net exports of diesel/gasoil, authorities government data revealed on Thursday. Stocks of diesel/gasoil and jet fuel/kerosene at crucial oil storage hub Singapore declined to 10.136 million barrels from 11.208 million barrels in the previous week, figures from Enterprise Singapore showed. The drop came as net exports of diesel/gasoil increased by a little more than 68% week on week, with total exports of the fuel getting at a quicker pace than overall imports. Total imports climed by around 39%, while overall exports rose by...

Jet Fuel

Singapore middle distillates stocks dip 2% but China imports remain vigorous

Singapore's middle distillates stockpiles drew for a second week, falling by 2%. week on week, however China import volumes for diesel/gasoil and jet. fuel/kerosene remained popular, official information revealed on. Thursday. Gasoil/diesel and jet fuel/kerosene inventories at key oil. storage center Singapore were at 10.134 million barrels, below. 10.349 million barrels a week ago, figures from Enterprise. Singapore showed. Jet fuel/kerosene net exports climbed by nearly 10%, fuelled. by the 43% rise in overall exports week on week. Key factors today were Australia and Vietnam, with. the latter drawing more freights regionally given some planned. refinery maintenance there that simply...

Jet Fuel

Singapore's middle distillates stocks dip a little as net exports rise

Singapore's middle distillates stocks slipped by 4% from last week as internet exports of diesel/gasoil and jet fuel/kerosene rose, official data showed on Thursday. Inventories of gasoil/diesel and jet fuel/kerosene at the essential oil storage hub was up to 10.349 million barrels from 10.787 million barrels a week earlier, information from Business Singapore showed. Net exports of diesel/gasoil rose more than significantly throughout this duration given a 66% drop in total imports, although overall exports just fell by 6% week-on-week. Volumes from China and South Korea remained popular, in line with earlier expectations, limiting the general weakness in total imports...

Jet Fuel

Singapore middle distillates stocks fall as diesel/gasoil net exports rise

Singapore's middle extracts stockpiles slipped weekonweek as net exports of diesel/gasoil rose, main information showed on Thursday. Inventories of diesel/gasoil and jet fuel/kerosene at key oil storage center Singapore were at 8.845 million barrels in the week of Feb. 21, below 9.547 million barrels from a week earlier, the data from Business Singapore showed. Net exports of diesel/gasoil increased by 37% from recently, mainly due to an 11% decrease in overall imports. Import arrivals were mostly from Russia and Saudi Arabia for the week, the information showed. Around 100,000 metric loads of India-origin diesel/gasoil were bound for Singapore in February,...

Oil & Gas Refining

Singapore's green jet fuel required faces cost, supply headwinds

Demand for sustainable aviation fuel (SAF) should see a longsought boost after regional airline center Singapore said it would need SAF on flights from 2026, but high costs and unsure basic material supply will indicate barriers to larger adoption remain. The city-state will at first require flights to utilize 1% SAF, potentially rising to 3% -5% by 2030 depending on wider accessibility and adoption, which will be paid for by a levy on tickets, its transport minister said on Monday ahead of the Singapore Airshow today. Aviation produces about 2% of the world's emissions and is Because of, thought about...