Australia extends coronavirus quarantine measures
Australia has extended its travel ban on foreign nationals travelling from mainland China to 22 February, with it continuing to impose a 14-day quarantine on vessels departing the country bound for Australian ports.
The Australian federal government is regularly reviewing the situation and may further extend the restrictions beyond 22 February.
The restrictions are causing scheduling issues for Australian energy and mineral shipments, which has been compounded by bad weather and cyclones on the east and west coasts of Australia over the past two weeks.
Vessels must declare if any of the crew has a fever, breathlessness or flu-like symptoms. If there is any sickness on vessels from mainland China within the quarantine period, then the quarantine will be restarted for a further 14 days.
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India's crude output steady, throughput rises in March
India's crude output steady, throughput rises in March
Mumbai, 26 April (Argus) — India's March crude production was steady on the year and up by 2pc on the month at 543,000 b/d. Output fell by 2pc to 546,000 b/d during the April 2023-March 2024 fiscal year. Total crude and condensate production was 590,000 b/d in March, up from 580,000 b/d in February and steady from March 2023, data from the oil ministry show. Crude output from state-controlled upstream firm ONGC was 354,000 b/d in March, up by 0.2pc on the month and down by 6pc on the year. This was likely because of a shutdown at the Panna-Mukta offshore platforms to commission a new crude pipeline and to modernise its evacuation facilities. The windfall tax for domestic crude production was raised to 4,600 rupees/t ($7.58/bl) during 1-15 March and then to Rs4,900/t during 16 March-3 April. The rate is reviewed every two weeks. The Indian government first imposed the windfall tax in July 2022 as a sharp increase in crude prices then resulted in domestic crude producers making windfall gains. Indian crude producers sell crude to domestic refineries at international parity prices. ONGC and fellow state-controlled upstream firm Oil India continued to produce the most of India's crude in March at 425,000 b/d, making up 78pc of the total production. Private-sector producers and joint ventures made up the remainder. India's dependence on crude imports declined to 88pc in March from 89pc in February and March 2023. Its dependence on crude imports rose to around 88pc in April 2023-March 2024 from 87pc in the previous year. India has steadily been trying to reduce its dependence on imports. It extended the deadline to 15 May for submitting bids for 28 upstream oil and gas blocks in the ninth Open Acreage Licensing Program bidding round. India's oil product exports fell to 5.3mn t in March from 6mn t in March 2023, but rose from 4.1mn t in February. Higher throughput Indian refiners processed 5.53mn b/d in March, higher from 5.28mn b/d in February and 5.44mn b/d in March 2023. Processing rose to 5.24mn b/d in April 2023-March 2024, up from 5.11mn b/d the previous year. Processing likely picked up as product demand increased in March. India's product demand — including diesel, gasoline, jet fuel, LPG, bitumen, naphtha and petroleum coke — increased by nearly 7pc from the previous month and was steady on the year to 21mn t in March. Crude throughput at state-controlled IOC's nine refineries was 1.6mn b/d, up by 8pc from a year earlier and by 10pc against the previous month. State-controlled BPCL processed 874,000 b/d at its refineries in March, up by 3pc from a year earlier and by 8pc from February. State-controlled HPCL's throughput rose by 3pc from the previous year and was steady from a month earlier at 709,000 b/d. ONGC's refineries processed 354,000 b/d in March, 6pc lower on the month and steady against a year earlier. India imported 4.7mn b/d of crude in March, 4pc lower from the previous year and up by 4pc from a month earlier, according to oil ministry data. By Roshni Devi Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japanese gas utilities to sell more city gas in 2024-25
Japanese gas utilities to sell more city gas in 2024-25
Osaka, 26 April (Argus) — Japanese gas utilities are expecting city gas demand from their customers to rebound in the April 2024-March 2025 fiscal year, after warmer than normal weather reduced the use of the heating fuel in 2023-24. Japan's largest gas retailer by sales Tokyo Gas forecast on 25 April that its city gas sales will increase to 11.422bn m³ for 2024-25, up by 1.1pc from a year earlier. Sales to the household sector are predicted to grow by 3.4pc to 2.8bn m³, after unusually warm weather during the summer and winter of 2023-24. Supplies to the industry and commercial users are also anticipated to edge up by 0.3pc to 8.6bn m³ during the period. The optimistic outlook came after a 10.1pc year-on-year fall in city gas sales for 2023-24. Tokyo Gas sold around 2.7bn m³ of city gas, down by 2.8pc from a year earlier, to the household sector to meet weaker weather-driven demand. Sales to the industry sector plunged by 20.1pc to 4.7bn m³ because of slower operations at their customers, while wholesale sales dropped by 3.2pc to 1.56bn m³. The falls more than offset a 2.3pc rise to 2.3bn m³ in the commercial sector where hotter than normal summer weather boosted city gas demand for cooling purposes. Tokyo Gas forecast temperatures in its service area to average 16.4°C in 2024-25, down from the previous year's 17.5°C. Fellow gas retailer Toho Gas forecast its city gas sales to increase by 1.2pc from the previous year to 3.4bn m³ in 2024-25, with supplies to residential users rising by 5.6pc to 595mn m³ and sales to the industry and commercial sectors edging up by 0.3pc to 2.8bn m³. The company sold 3.37bn m³ of city gas in 2023-24, down by 2.4pc from a year earlier, pressured by the warmer weather. City gas sales by Saibu Gas are expected to rise by 2.3pc from a year earlier to 940mn m³ in 2024-25. The company expanded sales by 3pc to 919mn m³ in 2023-24. Possible increased city gas sales in 2024-25 would increase demand for its main feedstock of LNG. But the 2024-25 sales forecast by Tokyo Gas and Toho Gas would remain lower compared with their 2022-23 sales. Japan's city gas production in 2022-23 totalled 35bn m³, which required 25.5mn t of LNG, according to trade and industry ministry data. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan’s JBIC to finance Chilean copper mine development
Japan’s JBIC to finance Chilean copper mine development
Osaka, 26 April (Argus) — Japan is enhancing its financial support for the development of copper mines in Chile, as part of efforts to increase its self-efficiency of base metals. State-owned Japan Bank for International Co-operation (JBIC) on 25 April signed a $248mn loan agreement with Chile-based joint-venture Compania Minera Arqueros (CMAQ) to finance development of its Arqueros copper project in Chile. CMAQ is 80pc owned by Japanese copper producer Nittetsu Mining and 20pc by Chilean firm Fondo de Inversion Privado Talcuna. The load will be co-financed by other Japanese private-sector financial firms, including Sumitomo Mitsui Banking, Mizuho Bank and MUFG Bank. The total co-funding will be $355mn. CMAQ plans to use the funding to develop Arqueros, located 35km northeast of La Serena. The mine is expected to produce 1.8mn t/yr of crude ore and 55,000 t/yr of copper concentrates for 15 years. The company aims to start operations in 2026. Nittetsu is to secure all the output from the project. The latest deal follows last month's loan agreement by JBIC and other financial institutes to provide $2.5bn to develop the Centinela copper mine in Chile . Japan relies on all its copper concentrates demand from imports, which has prompted the government to secure long-term and stable supplies of copper resources. The country's strategic energy plan has a target to achieve at least an 80pc self-sufficiency for base metals, including copper, by 2030. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan’s Mol starts operating LPG-fuelled VLGC
Japan’s Mol starts operating LPG-fuelled VLGC
Tokyo, 26 April (Argus) — Japanese shipping firm Mitsui OSK Line's (Mol) Singapore-based subsidiary Aramo Shipping started operating today a new LPG-fuelled LPG and ammonia carrier for domestic importer Gyxis. The 87,119m³ very large gas carrier (VLGC) Aquamarine Progress 2 was built by Japanese shipbuilder Namura Shipbuilding at Namura's Imari shipyard in south Japan's Saga prefecture. The vessel is equipped with a dual-fuel engine, which can burn LPG and conventional marine fuel. Mol expects use of LPG to reduce carbon dioxide (CO2) and nitrogen oxide emissions by 20pc and sulphur oxide and particulate matter emissions by 90pc compared with a heavy oil-dedicated vessel. The VLGC is also designed to be able to carry ammonia, eyeing potential demand growth for decarbonisation. Japanese shipping firms and shipbuilders have boosted construction of LPG carriers that can also ship ammonia, as demand for the cleaner fuel is expected to increase in future. Japan plans to co-fire ammonia at coal-fired power plants to reduce CO2 emissions, while aiming to use ammonia as a hydrogen carrier. Shipbuilders Kawasaki Heavy Industries and Mitsubishi Heavy Industries each delivered a VLGC, which can carry LPG and liquefied ammonia. Mol, in partnership with shipbuilders Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding, completed risk assessments to design a mid-size ammonia-fuelled ammonia and LPG carrier , targeting to finish construction by 2026. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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