Tanker owner denies Houthi attack in Med

Spanish Market: Crude oil, Oil products
16/07/24

The owner of a tanker reported attacked today in the Mediterranean Sea has said there was no such incident.

Petronav Ship Management said its tanker, Olvia, was not targeted as claimed by Yemen's Houthi militants.

An attack in the Mediterranean would be a big step outside the Houthi's region of operations, which is limited to the area in and around the Bab el-Mandeb strait at the southern end of the Red Sea.

The Houthis claimed two other attacks today in the Red Sea, on crude tanker Chios Lion and oil product tanker Bentley I.

By Ben Winkley and Bob Wigin

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14/01/25

Colonial shuts Line 1 due to Georgia spill: Update

Houston, 14 January (Argus) — Colonial Pipeline's main gasoline bearing line may be closed for more than a day as the company responds to a gasoline spill in Georgia detected on Tuesday. "Colonial has taken Line 1 out of service temporarily while we respond to a potential product release," the company said in a notice. "Normal operations continue on the remainder of the system." The spill occurred in Paulding County, Georgia, about 25 miles southwest of Marietta, Georgia. The company said it had crews on site responding to the incident. The company did not provide information on when the line would restart. Market sources said leak was small but it could take up to two days to resume operations. Line 1 has capacity to carry up to 1.3mn b/d of gasoline from Houston, Texas, to Greensboro, North Carolina. Cash prices for US Gulf coast 87 conventional gasoline in the Gulf coast ended Tuesday's session down by 3.19¢/USG at $2.115/USG, reversing gains from the previous session's 14-week high that was driven by higher blending demand. Liquidity fell during Tuesday's trading session with uncertainty over the length of the pipeline shut-down. The pipeline leak did not affect line space trading on Tuesday, which had already been falling. Values saw their sixth session of losses, shedding 0.25¢/USG day-over-day. A trade was reported at -1.5¢/USG, prior to the notice of the pipeline shut down, with no further trades reported for the remainder of the session. By Hannah Borai Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Canada's tariff response may be ‘unprecedented’: Ford

14/01/25

Canada's tariff response may be ‘unprecedented’: Ford

Calgary, 14 January (Argus) — Tariffs threatened by president-elect Donald Trump against Canada will hurt the province of Ontario the most, the premier of the country's most populated province said this week, so all options must be considered should retaliation be required. "We have to use all the tools possible," said Ontario premier Doug Ford in 13 January press conference, less than one week before Trump's inauguration and the potential imposition of 25pc tariffs on imports from Canada and Mexico. "We might have to do things that are unprecedented," which could include withholding shipments of minerals, Ford said. Ontario accounts for about 40pc of Canada's gross domestic product (GDP) and is known for its manufacturing, automotive and critical mineral industries. Ford's position runs in contrast to comments made earlier by Alberta premier Danielle Smith that cutting off Canadian energy flows to the US is a non-starter and would not happen . "Well, that's Danielle Smith, she's speaking for Alberta, she's not speaking for the country," Ford said. "I'm speaking for Ontario, that's going to get hurt a lot more. They aren't going to go after the oil, they're coming after Ontario." "I want to ship him more critical minerals, I want to ship him more energy, but make no mistake about it, if they're coming full-tilt at us I won't hesitate to pull out every single tool we have until they can feel the pain," Ford said. "But that's the last thing I want to do." Smith met with Trump at his Mar-a-Lago estate in Florida over the weekend, which was a welcome move by Ford, who said he has been working the phones calling American politicians daily. Even so, Canada's response needs to come from the federal government, which has so far been lacking, in Ford's view. "This is their jurisdiction," said Ford. "They need to come up with a strong plan. They need to be doing everything, every single day to make sure we avoid these tariffs." Premiers will meet with prime minister Justin Trudeau this week to strategize how to deal with potential tariffs. Trudeau said last week he planned to resign amid low polls and party infighting with a new leader to be chosen on 9 March. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Biomethan: Missbrauchsverfahren gegen THE gestartet

14/01/25

Biomethan: Missbrauchsverfahren gegen THE gestartet

Hamburg, 14 January (Argus) — Die Bundesnetzagentur hat auf Anfrage von acht Unternehmen der Biogasbranche ein besonderes Missbrauchsverfahren gegen Trading Hub Europe eingeleitet. Die deutsche Gasbörse hat die Bilanzkreise der Landwärme Service am 11. Oktober 2024 gekündigt. Dadurch sind Vertragspartnern wirtschaftliche Probleme entstanden. Ein Unternehmen, dem ein Bilanzkreis vom Marktgebietsverantwortlichen gekündigt wird, darf Biomethan weder liefern noch entgegennehmen. Vertragspartner der Landwärme Service (LWS) konnten deshalb von einem Tag auf den anderen nicht mehr auf die Mengen zugreifen, die von LWS oder ihnen selber zuvor schon in den Bilanzkreis eingespeist wurden. Somit haben sie für 2024 auch keinen Anspruch auf Nachweise über die Nachhaltigkeit ihres bereits erhaltenen oder eingespeisten Biomethans. Diese sind allerdings notwendig für Anlagenbetreiber, da diese in der Regel EEG-gefördert sind. Sollten sie bis Ende Februar keine entsprechenden Nachweise erhalten, könnten Unternehmen daher ihre EEG-Förderung verlieren. Kunden, Lieferanten und Produzenten, die einen Vertrag mit LWS hatten, mussten sich dementsprechend umorientieren und versuchten neue Lieferverträge zu etablieren. Dies steigerte auch die Nachfrage und verteuerte Biomethan in Deutschland im Oktober. Grund für die Anträge für ein Missbrauchsverfahren ist nun, dass die Vertragspartner von LWS noch immer keinen Zugriff auf ihre Mengen haben und auch keine Informationen erhalten haben, was mit diesen geschehen ist. Ein Antragsteller erklärte, dass er sich von dem Verfahren eine Wiederherstellung der Mengen oder eine finanzielle Kompensation erhofft. Trading Hub Europe soll den betroffenen Geschäftspartnern im November ein Angebot gemacht haben, zumindest einen Teil der Mengen gegen Zahlung eines Ausgleichsenergiepreises wieder in Biogasbilanzkreise einzustellen, so Unternehmen. Dieser Preis war für viele jedoch zu hoch angesetzt und hätte nur etwa 30 % der Mengen wiederhergestellt. Gleichzeitig wäre das Problem der Nachhaltigkeitszertifikate durch dieses Angebot weiterhin nicht gelöst. Viele der betroffenen Unternehmen wollten dieses Angebot nicht annehmen, da es weder attraktiv noch wirtschaftlich war. Die Anträge der Unternehmen gingen zwischen dem 17. Dezember und 20. Dezember 2024 bei der Bundesnetzagentur ein. Bei den Antragsstellern handelt es sich um die Biomethanproduzenten und -händler Verbio und EnviTec Energy, die Versorger STAWG – Stadt- und Städteregionswerke Aachen, Energie Schwaben und Stadtwerke Passau sowie die Biomethandienstleister und -händler GETEC Energy Management und GETEC Green Energy. Der genaue Grund für die Kündigung der Bilanzkreise ist nicht bekannt. Laut Trading Hub Europe (THE) ist eine außerordentliche Kündigung aus wichtigen Gründen möglich. Dies ist zum Beispiel der Fall, wenn gegen Bestimmungen trotz Abmahnung schwerwiegend verstoßen wurde, der Bilanzkreisverpflichtete seiner Verpflichtung einer Sicherheitsleistung oder Vorauszahlung nicht fristgerecht oder vollständig nachgekommen ist oder wenn dieser fahrlässig falsche oder unvollständige Angaben bei der Zulassung gemacht hat oder nicht über Änderungen der Angaben informiert hat. Ein weiterer Grund für eine Kündigung kann eine erhebliche Unterspeisung des Bilanzkreises sein, hier sei die Kündigung auch ohne wiederholten Verstoß und ohne Abmahnung möglich. Von Svea Winter Senden Sie Kommentare und fordern Sie weitere Informationen an feedback@argusmedia.com Copyright © 2025. Argus Media group . Alle Rechte vorbehalten.

US tariffs on Canada likely, oil cut-off not: Alberta

13/01/25

US tariffs on Canada likely, oil cut-off not: Alberta

Calgary, 13 January (Argus) — Tariffs threatened by the US against Canada will become a reality, according to the premier of oil-rich Alberta , but any retaliation will not entail cutting off energy exports. "They're likely to come in on January 20th," Alberta premier Danielle Smith said of the tariffs on Monday after she met with US president-elect Donald Trump at his Mar-a-Lago estate in Florida over the weekend. "I haven't seen anything that suggests that he's changing course." Trump in late-November said he plans to impose a 25pc tariff against all imports from Canada, citing inadequate border controls and a US trade deficit. Canada has since pledged to spend more money on border security while Smith reckons Canada would have a deficit if not for energy trade. "We actually buy more goods and services from the US than they buy from us," Smith said in an online interview with reporters. "We actually have $58bn in a trade deficit with the Americans when you take energy out." Smith wanted assurances the US is still interested in buying Canadian oil and gas, with her province being the heart of the country's energy sector. "Oil and gas is going to be key for being able to get a breakthrough, once the tariffs do come in, in getting them off," said Smith. Canadian foreign affairs minister Mélanie Joly said in a 12 January interview broadcast on CTV that the country could consider stopping the flow of Canadian energy in retaliation to tariffs. But Smith said that would not happen since the oil are owned by the province, not the federal government. "[The federal government] will have a national unity crisis on their hands at the same time as having a crisis with our US trade partners," said Smith. About 80pc of Canada's 5mn b/d of crude production is consumed by refineries in the US, with many in the Midcontinent having no practical alternative , according to the American Fuel and Petrochemical Manufacturers (AFPM). The region imported 2.7mn b/d of Canadian crude in October, the latest data point from the Energy Information Administration (EIA). "I hope cooler heads prevail," said Smith, adding that Trump seemed interested in buying more oil and gas. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mexico’s industrial output up 0.1pc in November

13/01/25

Mexico’s industrial output up 0.1pc in November

Mexico City, 13 January (Argus) — Mexico's industrial production edged up 0.1pc in November, as gains in autos and other manufacturing offset weaker construction, national statistics agency Inegi said. Mexican bank Banorte described the monthly increase as "rather small," noting it followed a 1.1pc decline in October and was largely driven by base comparison effects. The bank added that the overall industrial outlook remained "fragile." Manufacturing, which represents 63pc of Inegi's seasonally adjusted industrial activity indicator (IMAI), increased by 0.7pc in November, though it failed to fully recover from a 1.7pc drop in October. Transportation manufacturing, a key subsector accounting for 12pc of the sector, rose by 3.8pc after a steep 4.3pc decline the prior month. Despite recent volatility, Mexico's auto sector achieved record annual light vehicle production in 2024, reaching 3.99mn units. Yet, automaker association AMIA warned of potential challenges in 2025 because of economic uncertainty, which could affect investment and demand. Mining, which makes up 12pc of the IMAI, increased by 0.1pc in November following a 1.1pc decline in October. Growth was driven by a 41.4pc jump in mining-related services, while oil and gas output fell by 2.4pc, marking a fifth consecutive monthly decline for hydrocarbons. Construction, representing 19pc of the IMAI, contracted by 1.8pc in November after modest gains of 0.2pc in October and 1.1pc in September. As industry eyes potential policy shifts under US president-elect Donald Trump, Banorte projected a weak start to 2025 for Mexico's industrial output. But it expects momentum to build as government spending on priority infrastructure projects "moves more decisively." By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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