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US House Republicans unveil energy bill package

  • Market: Crude oil, Emissions, Natural gas, Oil products
  • 14/03/23

Republican leaders in the US House of Representatives today introduced the text of a massive energy and permitting bill they plan to bring up for a floor vote at the end of the month.

The 174-page bill seeks to expand federal oil and gas leasing land, accelerate permitting, relax environmental reviews, make it easier to approve critical mineral mines and revise royalty sharing. The bill will "tackle the energy crisis" caused by President Joe Biden's "disastrous policies," House majority leader Steve Scalise (R-Louisiana) said.

The bill has effectively no chance of being approved in the US Senate, where the Democratic majority has no appetite for considering sweeping changes to federal energy policy. But House Republicans believe passing an expansive bill can offer a contrast to White House policies, while also becoming a starting point for future bipartisan negotiations related to permitting.

The bill would fast-track approval of cross-border oil and gas pipelines, eliminate the US Energy Department's role in authorizing LNG exports, mandate quarterly onshore oil and gas lease sales, and overhaul vast parts of federal environmental reviews. It would also repeal key parts of last year's Inflation Reduction Act, such as a new fee on methane emissions, a $27bn program to lower greenhouse gas emissions and other climate-related spending.

US senator Joe Manchin (D-West Virginia) has urged the House to try to pass a standalone permitting bill, rather than a much broader energy package, as a way to support bipartisan negotiations later this year. Even some Senate Republicans have taken a dim view on the idea of taking votes on energy policy that has little chance of being enacted.

"A messaging bill is not designed to solve any problems," US senator Lisa Murkowski (R-Alaska) said last week at the S&P Global CERAWeek conference in Houston. "I don't have time for that kind of stuff."


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17/07/24

New Zealand, Australia carbon brokerage rivalry builds

New Zealand, Australia carbon brokerage rivalry builds

Sydney, 17 July (Argus) — Commodities broker Marex announced today it opened an office in New Zealand and launched a new carbon trading platform for local emissions units, days after New Zealand competitor Jarden rolled out its own trading platform in Australia. Marex will initially focus on execution and clearing services across carbon, electricity and dairy sectors in New Zealand, in both listed and over-the-counter products. Its New Zealand-based and global clients will also be able to trade New Zealand emissions units (NZUs) in a newly launched platform called Neon Carbon. New Zealand clients will have access to clearing directly through Marex on the Singapore Exchange and Australian Securities Exchange, with the latter planning to soon launch physically settled futures contracts for Australian Carbon Credit Units (ACCUs), large-scale generation certificates (LGCs) and NZUs . The new Marex team will be led by Nigel Brunel, formerly Jarden's head of commodities in New Zealand. Jarden is considered to have the biggest share of the brokered NZU market through its CommTrade spot trading platform, followed by domestic trading platforms CarbonMatch and emsTradepoint, which is operated by state-owned electricity transmission system operator Transpower New Zealand's Energy Market Services. CommTrade expansion Marex has hired several other former Jarden brokers in recent months in New Zealand and Australia, as it looks to expand its environmental products business across Asia-Pacific . But the increasing brokerage competition in Australia with growing trading volumes for ACCUs in recent years prompted Jarden to roll out CommTrade in the Australian market. Jarden's clients in Australia had until now only a price display mechanism for ACCUs. But they are now able to directly input bids and offers through CommTrade, with real-time matching capabilities displayed on screen. "Transactions remain anonymous until matched, after which clients receive a contract note from Jarden detailing settlement terms," Jarden announced late last week. All transactions are settled directly through the company, with clients also able to trade other products such as LGCs. Marex told Argus it would not be able to share any product details on Neon Carbon at this stage. UK-based broker Icap entered the New Zealand carbon trading market earlier this year with the acquisition of domestic brokerage firm Aotearoa Energy, while several other brokers have entered the ACCU market in recent years. By Juan Weik Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Aumentan importaciones de combustible en México


16/07/24
News
16/07/24

Aumentan importaciones de combustible en México

Mexico City, 16 July (Argus) — Las importaciones de combustible en México aumentaron en julio de cara a la temporada de viajes de verano e impulsadas por una disminución de la producción nacional en las refinerías de la estatal Pemex. Las importaciones marítimas a México de gasolina, diésel y turbosina, incluidas las importaciones de Pemex y privados, aumentaron un 18pc a aproximadamente 780,000 b/d del 1 al 10 de julio, frente a 663,000 b/d en el mismo periodo de 2023, según datos de Vortexa. Esto se debió principalmente a un aumento del 66pc en los cargamentos de diésel hasta alcanzar 268,000 b/d, ya que la disponibilidad de este combustible en el mercado ilegal probablemente disminuyó, según fuentes del mercado. Los cargamentos de turbosina se cuadriplicaron hasta los 43,000 b/d en el mismo periodo, ya que Pemex reabastece sus inventarios antes de la temporada de viajes aéreos de verano. Las importaciones de combustible a México habían disminuido a principios de este año, después de que la campaña del gobierno para aumentar la producción de refinerías y reducir su dependencia de las importaciones de EE. UU. comenzara a dar sus frutos, aumentando la producción de gasolina y diésel de Pemex en un 32pc y reduciendo sus importaciones hasta un 25pc en marzo. Pero en abril y mayo, el sistema de refinación de Pemex enfrentó varios problemas, desde un incendio en la refinería de Minatitlán hasta un corte de energía importante en la refinería de Tula, lo que llevó los niveles de procesamiento de crudo de Pemex a un mínimo de cinco meses en mayo. Las tasas de operación de las refinerías en junio se publicarán el 26 de julio. Es probable que el procesamiento de crudo haya caído durante el mes pasado debido a operaciones de mantenimiento en dos refinerías, dijo una fuente familiarizada con las operaciones de refinación de Pemex. El mercado tiene sus dudas sobre la posibilidad una fuerte caída en las importaciones de combustible a México, y algunos refinadores de la costa del Golfo de EE. UU. esperan una fuerte y creciente demanda. Además, incluso si la refinería Olmeca de 340,000 b/d iniciara operaciones comerciales este año, es probable que las otras seis refinerías reduzcan sus tasas de utilización, según fuentes del mercado. Recientemente, Pemex comenzó a vender diésel desde la terminal de distribución de la refinería de Olmeca, pero la cantidad es limitada y el combustible se produjo utilizando materia prima destilada en otra planta. La tendencia a la baja en las operaciones de refinado de México podría continuar en julio a pesar de los esfuerzos del gobierno saliente para aumentar la producción nacional. México ha exportado alrededor de 1 millón de b/d de crudo hasta la fecha en julio, un aumento del 20pc frente a los 847,500 b/d en todo junio, según los datos de Vortexa. Esto indica que es probable que las refinerías de Pemex estén operando a tasas más bajas. Las importaciones de combustible de México podrían continuar su tendencia al alza en los próximos meses, pues los gasolineros esperan una mayor demanda de gasolina durante las vacaciones de verano. Los inventarios de gasolina y diésel de Pemex descendieron un 24pc en junio a 6.2 millones de bl, frente a 8.1 millones de bl en junio de 2023, según una respuesta de transparencia de Pemex a una solicitud de Argus . La empresa deberá aumentar sus importaciones si las refinerías no siguen el ritmo de la demanda. Además, las importaciones suelen aumentar en la segunda mitad del año, impulsadas por la demanda de diciembre y la mezcla de gasolina de invierno de menor precio. México importó más gasolina en el segundo semestre del año en 11 de los últimos 12 años y más diésel en ocho de esos mismos años. Juego de unos pocos El mercado de importación de combustible de México se ha limitado a Pemex y a algunas empresas del sector privado durante los últimos tres años del mandato del presidente Andrés Manuel López Obrador, y no hay señales de cambio después de las elecciones presidenciales de junio. Se espera que la presidenta electa Claudia Sheinbaum, que tomará el cargo el 1 de octubre, continúe con las políticas nacionalistas de energía de López Obrador, y tendrá aún menos contrapeso que su predecesor tras la contundente victoria de su partido Morena en las elecciones legislativas. Las importaciones de combustible a México se abrieron a empresas del sector privado después de la reforma energética de 2014, pero la secretaría de energía canceló decenas de permisos de importación de combustible en los últimos años. Por Antonio Gozain Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Tanker owner denies Houthi attack in Med


16/07/24
News
16/07/24

Tanker owner denies Houthi attack in Med

London, 16 July (Argus) — 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 Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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New Libyan firm starts exporting crude


16/07/24
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16/07/24

New Libyan firm starts exporting crude

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Japan’s Imabari delivers LNG-fuelled car carrier


16/07/24
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16/07/24

Japan’s Imabari delivers LNG-fuelled car carrier

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