Oil Markets Editor at Bloomberg News. Opinions are mine, re-tweets not endorsements.
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Joined January 2012
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A bold call.
While blue hydrogen is cheaper today than ‘green’ hydrogen made from solar or wind electricity, the situation should reverse by 2030. We expect renewable hydrogen to be cheaper by 2030 in all modeled countries. bloom.bg/3b7nvTg
Second #chemicals major gives update on assets closures in Europe this week.
Dow says in earnings that operations at 2 sites in Germany (including a cracker) are at risk and some UK ops to close.
Follows announcement that Total will close a cracker in Antwerp by end of 2027
Valero says it will ``idle, restructure, or cease refining operations'' at Benicia #refinery by the end of April 2026.
investorvalero.com/news/news…
Rachel Graham retweeted
GOLF IMMORTALITY 💥💥💥💥💥💥💥
RORY MCILROY HAS WON THE MASTERS AND COMPLETED THE CAREER GRAND SLAM!!!!!
Chinese #LPG buyers have prompted a price surge as they scramble to replace US supplies following Beijing’s response to US #tariffs.
bloomberg.com/news/articles/… via @Nich_Lua and @helloimserene #chemicals
Something a bit more upbeat on #Grangemouth
Nova Pangaea Technologies -- a UK company which is working toward making #ethanol and #biochar from waste biomass -- says Grangemouth is a front runner for its first-of-a-kind plant
bloomberg.com/news/articles/…
On the £200 million for the UK's #Grangemouth, it's new money but needs some matching by private sector.
See govt statement:
gov.uk/government/news/prime…
Worth remembering the UK has a target to have five SAF plants in construction by this year.
No change on the oil #refinery.
On the £200 million for the UK's #Grangemouth, it's new money but needs some matching by private sector.
See govt statement:
gov.uk/government/news/prime…
Worth remembering the UK has a target to have five SAF plants in construction by this year.
No change on the oil #refinery.
I found this interesting from Repsol
In Spain, the word `fuel' is understood as `fuel oil'
So, when Repsol's CEO was talking earlier about high #natgas prompting switching to `fuel,' we're safe reporting that as fuel oil.
Thanks @MikkelLarsen_ for the quick response
Chevron said it plans to cut its global workforce by 15% to 20% by next year, as part of efforts to reduce costs at the US oil major bloomberg.com/news/articles/… via @business
Rachel Graham retweeted
I missed this a couple of days ago: European fertiliser giant Yara is mothballing (very likely for ever) its ammonia plant in northern England (Hull). Another example of the industrial impact of high natural gas prices.
European natural gas benchmark TTF surges above €58 per MWh — put it in oil terms, it has reached ***the $100 per barrel of oil equivalent level***.
Absolutely destructive for energy-intensive manufacturing.
As Dow CEO said last week, there has been lots of talk by politicians and regulators on high energy prices in Europe but not much action #chemicals
A top 10 European refinery for sale, based on crude capacity.
BP joins Shell and Exxon in trying to sell #refining assets in Germany
A top 10 European refinery for sale, based on crude capacity.
BP joins Shell and Exxon in trying to sell #refining assets in Germany
BP says it will look to sell its oil refinery at Gelsenkirchen in Germany, as well as some chemical assets in the country trib.al/3BKeXcT
Rachel Graham retweeted
*** Huge news in the commodity trading industry ***
Trafigura and one of its former most senior executives were convicted by a Swiss court on bribery charges.
Mike Wainwright, Trafigura’s ex-chief operating officer, was sentenced to 32 months in jail.
bloomberg.com/news/articles/…
Miro says it supplies a third of Germany's gasoline needs -- five years ago the head of the #refinery told local media it was a quarter.
It's in this round-up for 2024:
miro-ka.de/aktuelles/miro-ge…
``MiRO liefert jeden 3. Liter Benzin in Deutschland''
Short and sweet from speciality #chemicals company Lanxess:
``The underlying macroeconomic environment going into 2025 has not improved''
Matches some of the rumblings I am hearing in industry, in Europe.
Fire occurred at the #Bayernoil oil refinery in Germany overnight (it's already on the @terminal)
Always sorry to hear of injuries in cases like this.
t-online.de/nachrichten/pano… via @tonline
BP had already warned in March that jobs are to go at the Gelsenkirchen #refinery in Germany (where a CDU, VDU and other units are being taken out of service this year)
BP is cutting thousands of jobs in an effort to reduce costs -- contractors and permanent staff bloomberg.com/news/articles/… via @mitchellferman
BP is cutting thousands of jobs in an effort to reduce costs -- contractors and permanent staff bloomberg.com/news/articles/… via @mitchellferman
Rachel Graham retweeted
There's ominous news out of Come By Chance. The company operating the renewable fuels refinery confirms that an "economic shutdown" is being considered because of tight margins and the expiration of U.S. clean fuel tax credits. Production began just 10 months.
Rachel Graham retweeted
CHART OF THE DAY: German energy-intensive industrial production (red line) plunged in October as natural gas prices started to climb, flirting with the lowest levels of activity seen at the peak of the energy crisis. Energy-intensive industrial activity is down ~20% since 2015
