Thomas R Hardy, USTDA’s acting director, said, “This project will support the diversification of Nigeria’s economic development while creating opportunities for US companies to develop world-class infrastructure.
European refiners continue to limit their run rates due to low margins.
The project is mostly EU-funded.
Japanese utilities expect a slow recovery in electric power demand toward March after a 5% drop in the April-June quarter though some are less confident that the worst is over.
Oil prices fell on Monday on oversupply worries as OPEC and its allies are set to wind back output cuts in August and a rise in worldwide COVID-19 cases points to a slower pick-up in demand.
Asia’s gasoline refining margins nearly burned up in July, dropping to just above zero in the worst profit performance for refined fuels over the month as a new wave of coronavirus infections walloped demand recovery and swelled supplies.
The deals signed by Hyundai Samho and Hyundai Heavy have an option to build six LNG carriers, while an order of two LNG carriers is slated to be made next Wednesday.
Editorial: Gas is the pragmatic element of a non-ideal but achievable energy transition [LNG Condensed]
It would be great if the world could move steadily and surely towards 100% renewable energy systems with no further additions of fossil fuel use. [LNG Condensed Volume 2, Issue 5 – July/August 2020] – Subscribe to NGW Premium or NGW LNG Condensed (complimentary) to read this article.
China may have saddled itself with as much as $42 billion in unpaid renewable energy subsidies, but it pales in comparison to the enormous amount of money Europe is pumping into ambitious renewable transition plans even as the continent is ravaged by a global pandemic.
Demand concerns are expected to take center stage in the Asian middle distillates complex as a resurgence of coronavirus infections around the region is expected to suppress buying appetites, exerting downward pressure on sentiment.