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Russia to present climate strategy at Cop 29

  • : Coal, Crude oil, Emissions, Natural gas, Oil products
  • 24/10/09

Russia is preparing to present its climate strategy at the UN Cop 29 climate conference in Baku, Azerbaijan, in November, deputy prime minister Alexander Novak said.

Novak convened a meeting with Russian ministries on climate issues on 7 October, in which a forecast for Russia's emissions rates, in line with the country's 'low emissions economic development strategy to 2050', was discussed. The strategy was approved in 2021.

It is unclear whether the strategy is linked to Russia's new Nationally Determined Contribution (NDC) — a climate plan to be submitted to the UN. Cop parties are expected to publish their next NDCs to the Paris climate agreement — this time for 2035 — in November-February, as part of a cycle that requires countries to "ratchet up" their commitments every five years.

Russia's president Vladimir Putin announced Russia's 2060 net zero ambitions in October 2021, but the country has not updated its NDC since 2020.

The Cop 28 agreement signed in the UAE last year included an energy section calling for "transitioning away from fossil fuels in energy systems", a tripling of renewable capacity by 2030 and for "accelerating action in this critical decade", giving the direction countries need to take in the energy transition.

The country's main focus is on doubling the absorptive capacity of Russia's forests and producing and exporting more gas, to replace demand for more carbon-intensive oil and coal. Russia has no plans to reduce coal and oil output.

Russia's climate envoy Ruslan Edelgeriyev said in November 2022 that Moscow could achieve net zero a decade earlier than in 2060 if its access to international debt markets and technology was not blocked because of the sanctions imposed over Ukraine.

While reiterating net zero ambitions last year despite the sanctions, Putin repeatedly called accelerated decarbonisation irresponsible, claiming that it contributed to Europe's energy crisis in 2021.


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24/10/09

Florida waives fuel rules ahead of hurricane

Florida waives fuel rules ahead of hurricane

Houston, 9 October (Argus) — Florida has waived four statutes regulating the sale, storage and distribution of liquid fuels in an effort to shore up supply as the state prepares for landfall from Hurricane Milton. Florida agriculture commissioner Wilton Simpson signed an emergency order Monday that allows fuel sellers to sell a range of branded and unbranded fuels interchangeably and to blend fuels from multiple suppliers. The rules suspension will extend through 6 December or until rescinded by the commissioner. The measure will "assist with efforts to ensure adequate distribution and supply of fuel", governor Ron DeSantis (R) said Wednesday. The state has been escorting fuel trucks to retail stations that have run dry as drivers fill vehicles ahead of the hurricane, which is expected to make landfall late Wednesday or Thursday morning on the west-central coast of Florida. Because Florida has no refineries, the state must import all its gasoline, diesel and jet fuel by truck and ship, making its fuel supply particularly vulnerable to disruption when when ports and roadways are closed by a storm. An hours-of-service waiver for truck drivers directly assisting with emergency relief efforts in Florida and other Gulf coast and Atlantic coast states has be in place since Hurricane Helene made landfall in Florida late last month. By Nathan Risser Hurricane Milton projected path Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

US September OCTG, line pipe imports may rise


24/10/09
24/10/09

US September OCTG, line pipe imports may rise

Houston, 9 October (Argus) — US imports of oil country tubular goods (OCTG) and line pipe products could increase in September. US OCTG imports could be 114,500 metric tonnes (t) in September, which would represent an increase of 15,200t compared to the prior year, according to license data from the US Department of Commerce, which is subject to change. If realized the September OCTG rise would be driven by a potential 19,800t increase from the prior year from South Korea to 60,600t and a 7,700t increase in volumes from Taiwan, up from none in the prior year. Those increases are partially offset by a possible 8,400t decrease in volumes from Canada and a 5,100t decrease from Mexico. If September OCTG import volumes do rise, it will be only the second month since May 2023 that import volumes have increased year over year. Line pipe imports may jump by 19,200t from the prior year to 101,800t. That increase could be driven by a 9,500t increase in line pipe of unspecified diameter from South Korea to 34,700t, and a 3,900t increase in Japanese volumes for line pipe less than or equal to 16in. By Rye Druzchetta US pipe and tube import licenses metric tonnes Product Sep-24 Sep-23 Difference ±% Aug-24 OCTG 114,521 99,310 15,211 15.3% 129,096 Line pipe* 101,777 82,589 19,188 23.2% 84,940 Standard 56,725 56,488 237 0.4% 63,929 Heavy Structural Shapes 57,682 43,364 14,318 33.0% 66,669 US Department of Commerce; September 2024 data is license data, which is subject to change. *Line pipe is all diameters. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

African petroleum body seeks EU CO2 tax moratorium


24/10/09
24/10/09

African petroleum body seeks EU CO2 tax moratorium

Cape Town, 9 October (Argus) — African states must push for a moratorium on the EU's impending carbon tax when they attend the UN Cop 29 climate talks in Baku, Azerbaijan, next month, said the African Petroleum Producers Organisation (APPO). APPO's secretary-general Omar Farouk Ibrahim made the call at Africa Oil Week currently underway in Cape Town, South AFrica. "As we prepare to go to Baku for Cop 29, I invite those who represent the interests of our continent in the negotiations to sound the alarm on the implications for Africa of the planned implementation of the EU carbon border adjustment mechanism," Ibrahim said. The mess called climate change was not created by Africans, APPO's secretary-general said. Today's industrialised countries are responsible for most of the greenhouse (GHG) emissions of the past 120 years, he said. This is the time to sound the alarm and ask for a moratorium on CBAM so that Africa can benefit, he added. "That is what an energy transition is in our opinion. If we don't, we're in for trouble [as] it will stifle our industrial and economic development," according to Ibrahim. Africa deserves better — it cannot develop without fossil fuels, he concluded. By Elaine Mills Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Hurricane Milton bears down on Florida


24/10/09
24/10/09

Hurricane Milton bears down on Florida

New York, 9 October (Argus) — Hurricane Milton, which is forecast to slam into Florida's west coast as a powerful Category 4 storm either Wednesday night or early Thursday, is spurring mass evacuations as the threat of dangerous storm surge and life-threatening winds increases. The hurricane was located about 210 miles southwest of Tampa at 10am ET today, packing maximum sustained winds of 155mph, according to the latest advisory from the National Hurricane Center. It was moving to the northeast at 16 mph. "Milton has the potential to be one of the most destructive hurricanes on record for west-central Florida," the center said in an earlier update. Residents were urged to speed up emergency preparations, including evacuations if required. Ports on Florida's Gulf coast from Tampa to Fort Myers Beach closed yesterday in advance of the storm. Officials dispatched emergency stockpiles to retail stations as panic buying depleted fuel supplies and energy companies were forced to shut down pipelines and terminals. The offshore oil and natural gas hub in the Gulf of Mexico was largely spared as Milton's track took it to the far south of most platforms. On its current forecast path, the center of Milton will sweep across the eastern Gulf of Mexico today, with landfall expected along the west-central coast of Florida late tonight or Thursday morning. The hurricane will then move back over the western Atlantic Ocean Thursday afternoon. "Milton is expected to remain an extremely dangerous major hurricane when it reaches the west-central coast of Florida tonight," the center warned. By Stephen Cunningham Hurricane Milton projected path Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Nigeria to halt jet imports to support Dangote refinery


24/10/09
24/10/09

Nigeria to halt jet imports to support Dangote refinery

London, 9 October (Argus) — Nigerian airlines have agreed to source jet fuel solely from the country's 650,000 b/d Dangote refinery rather than relying on imports from abroad, according to aviation minister Festus Keyamo. "It's a decision by the airline operators of Nigeria, with my push and my blessing, that they should only buy from Dangote refinery," Keyamo told Nigeria's Channels Television, without offering a timeframe. The Dangote refinery is fast increasing its share of Nigeria's oil product market. It started gasoline production last month and all its sales since have been to state-owned NNPC. NNPC has been using trucks to load the gasoline but Dangote's plan is to eventually supply most of its gasoline to the domestic market by sea. Dangote is already claiming a greater share of the jet fuel arriving at Nigerian ports. A quarter of the 280,000t of seaborne deliveries of jet fuel to Nigeria so far this year have come from Dangote, according to Vortexa. The refinery began selling jet to the local market back in April , enabling local fuel marketers to benefit from lower transport costs. Indian refiner Reliance is among the biggest losers. It supplied 140,000t of jet fuel to Nigeria last year, around half of the country's total seaborne imports, and a further 75,000t in the first four months this year. But it has not supplied any more since the end of April. Dangote was last heard offering jet fuel at a premium of $42/t against spot northwest European prices, according to market participants. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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