Iran's post-war oil rebuild 80pc complete

: Crude oil, Electricity, Natural gas
26/11/09

Reconstruction of Iran's war-damaged oil infrastructure is about 80pc complete, according to Mohammad Meshkinfam, managing director of state-owned oil engineering firm NIOEC.

Work on refined oil product transfer facilities is around 60pc complete, while reconstruction of damaged oil facilities and storage depots has reached 80pc, Meshkinfam told oil ministry news agency Shana.

NIOEC aims to fully restore the targeted infrastructure by the end of the Iranian calendar month of Aban, around 21 November.

Despite damage to the Rey oil depot and other storage hubs in Tehran province, the capital's fuel-distribution system was restored within about two weeks and is now operating above its previous capacity, according to NIOEC.

Iran's oil and gas infrastructure has been repeatedly targeted since the war with the US and Israel began in late February. Depots in Shahran, Karaj and Aghdasieh, as well as the 220,000 b/d Tehran refinery, were hit during the first week of the conflict, according to Argus data.

The US and Israel also targeted a range of energy and industrial infrastructure, including the Pars petrochemical complex, the 55,000 b/d Lavan refinery, steel plants and power and water utilities.

The extent of the damage and progress of the reconstruction work have not been independently verified.

By Elshan Aliyev

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26/11/09

Indonesian power-sector coal demand to rise by 20mn t

Manila, 9 November (Argus) — Indonesia's growing domestic power demand will drive its thermal coal consumption higher next year, with state-owned utility PLN Energi Primer Indonesia (EPI) expecting power-sector coal demand to increase to 174mn t from this year's estimated 154mn t. EPI's coal-fired plants are expected to account for 98mn t of coal demand next year, while independent power producers are expected to consume 76mn t. EPI did not disclose projected consumption for captive coal-fired plants as the company is responsible for sourcing coal only for grid-connected power plants. EPI noted that coal demand in the power sector is dominated by medium calorific (CV) coal. In 2027, medium-CV coal consumption in the power generation sector is expected to reach 89mn t, while low-CV coal consumption will reach 76mn t. Only 8.51mn t of high-CV coal is projected to be consumed. This is because Indonesia's power plants are designed to burn GAR 4,000-5,000 kcal/kg coal as their fuel source. But Indonesia's coal reserves are dominated by low-CV coal, with the energy and mineral resources ministry estimating low-CV coal reserves at 24.06bn t, medium-CV coal at 4.54bn t, and high-CV coal at 3.36bn t. The low availability of medium-CV coal has already impacted Indonesia this year, with the Java grid experiencing rotating power interruptions because of insufficient power supply resulting from a shortage of mid-CV coal in power plant stockpiles, forcing the plants to run at a de-rated capacity. To address this, EPI is developing a programme that will help improve the plants' ability to utilise lower-CV coal, including GAR 3,600 kcal/kg coal. A total of 16 power plants will be chosen for the programme but EPI did not disclose the specific units, saying that technical studies were still being done. One of the key issues is to ensure that the plants can use lower-CV coal without compromising combustion efficiency, equipment reliability and available electricity supply to the grid. The coal CV switching programme will be deployed in stages to ensure that any negative impacts to the grid will be minimised. By Antonio Reyes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Phillips 66 eyes opportunity through Bogota

26/11/09

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26/11/09

Phillips 66 eyes opportunity through Bogota

Houston, 9 November (Argus) — US independent refiner Phillips 66 opened a commercial office in Bogota, Colombia, this month, its first in Latin America, as the region becomes an important source of crude feedstocks and buyer of finished products. "We wanted to make sure we are well positioned to get the right crude for our crude slate globally," senior vice president of commercial Mark Hughes told Argus in an exclusive interview at the company's headquarters in Houston, Texas. "We want relationships all the way from the wellhead to the customer". He pointed to growing crude production in Venezuela, Argentina and Guyana as well as the need to be closer to customers and develop more real-time connections. Phillips 66's Bogota office will start with a headcount in the single digits with potential for expansion. The new office is part of a buildout of the refiner's commercial operations beyond Houston, Texas, which now includes offices in Calgary, Alberta; Hamburg, Germany; Beijing, China; Singapore and London. Phillips 66 owns and operates eight US oil refineries with a total capacity of about 1.7mn b/d as well as the 50,000 b/d Rodeo biofuel facility in California. The company also owns the 220,000 b/d Humber refinery in the UK, and a large US midstream business that includes crude, products, natural gas and natural gas liquids assets. The company added more power and natural gas trading staff when it completed the purchase of DCP Midstream in 2023. In Latin America, Phillips 66 is focused on opportunities to source different kinds of crude as well as some biofuel feedstocks, including tallow, soybean oil and used cooking oil. In addition, "the specs and the demand profile" in the northern part of the South American continent are a very good fit for the products Phillips 66 produces, vice president of origination Daniel O'Donnell said. Phillips 66's decision to open the Bogota office was not directly a result of changes in Venezuela earlier this year, but the opportunities in that country are a factor, he said. The real driver for Colombia is about having a presence in the region and being closer to customers and counterparties that Phillips 66 is working with, O'Donnell said. "Venezuela is certainly part of that". Overall US imports of Venezuelan crude have risen sharply since the US captured former Venezuelan president Nicolas Maduro in early January and then lifted sanctions on that country's crude exports. Phillips 66's Gulf coast refineries can run up to 250,000 b/d of Venezuelan crude in its system. In August it was the third top US recipient of Venezuelan crude with 98,000 b/d, according to the latest monthly data from the US Energy Information Administration. Freight dynamics Phillips 66 and other US refiners are benefiting from lower priced heavy sour crudes like Venezuelan oil, adding to already robust quarterly earnings as fuel prices have surged mainly because of supply disruptions related to the US-Iran war. Venezuelan crude is currently competing with Western Canadian Select (WCS) which is trading at multi-year discounts to the WTI benchmark, pressured by high global freight rates and other factors. "As long as the freight dynamic remains where it is, I think you'll continue to see weakness in the general heavy complex on the Gulf coast", which gives an advantage to Phillips 66's Gulf coast and midcontinent refineries, Hughes said. US refiners have been running at high rates this year to fill the global supply gaps left by what was a de facto closure of the strait of Hormuz, taking advantage of the high prices and reporting bumper profits. Phillips 66 reported refining margins of $38/bl in the third quarter, up from $12.15/bl in the third quarter of 2025. Another major US energy company, Chevron, announced plans to invest more than $100mn in Colombia over the coming years as it expands its downstream brand Texaco and terminal storage capacities. The capital injection will focus on upgrading fuel storage infrastructure, expanding the retail network by adding more than 200 service stations in key cities and optimizing logistics across strategic hubs. Phillips 66 and Chevron are co-owners of Chevron Phillips Chemical, a 50:50 joint venture. By Eunice Bridges Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Trump faces new limits after midterms blowout

26/11/09

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26/11/09

Trump faces new limits after midterms blowout

Washington, 9 November (Argus) — US Democratic congressional leaders are promising to use their strong victory in the midterm elections on 3 November to seek new restraints against President Donald Trump, while leaving an opening for legislative deals that would lower consumer prices for energy and other goods. Democrats on Capitol Hill have felt largely powerless for nearly two years as Trump and his administration unilaterally cut staffing at federal agencies, stymied the development of clean energy projects, pivoted close to Moscow's position in the Ukraine war and launched military strikes against Venezuela and Iran. Democratic leaders say those dynamics will change with their midterm wins, as they try to bring the kind of accountability they say has been nearly non-existent with Republicans in control of Congress. 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"They want us to get things done on their behalf because life is way too expensive." Midterm elections last resulted in losses of such magnitude for a president's party under George W Bush in 2006 and Barack Obama in 2010, prompting the presidents at the time to look for ways to co-operate with the opposition-controlled Congress. Few expect Trump to follow a similar course. Co-operation and oversight Newly elected Democrats say they want to look at areas of compromise that could give relief to consumers struggling with high fuel prices. Texas' Democratic senator-elect James Talarico said he supported Trump's proposal to suspend federal excise taxes on gasoline and diesel. "If we suspend the federal gas tax, we could drop the price of gas by 18¢/USG immediately," Talarico said on 4 November. 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The largest US Air Force base in the Middle East, at Al Udeid, Qatar, is "usable, but at a much lower-level capacity", Murphy says. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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War keeps Cop focus on transition, major deals unlikely

26/11/09

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26/11/09

War keeps Cop focus on transition, major deals unlikely

Edinburgh, 9 November (Argus) — The supply crisis triggered by the US' war with Iran will keep energy transition discussions very much to the fore at this week's UN Cop 31 climate summit in Antalya, Turkey — with electrification a central theme — but substantial new commitments on clean energy, fossil fuels and finance are unlikely. Cop 31 president-designate Murat Kurum insists that the summit "will work to turn the commitments of past Cops into real results", and cutting fossil fuel emissions remains key to meeting the 1.5°C temperature rise limit pursued in the UN Paris agreement. But three years after that target was reinforced at Cop 28 in Dubai, where parties were also called on to transition away from fossil fuels, pollution from coal, oil and gas — which accounted for 74pc of carbon emissions last year — is still increasing. The dual Cop 31 presidency — Turkey is presiding over the summit while Australia leads negotiations — has been open about the need to move away from fossil fuel dependency , especially as the world wrestles with the impact of disruption to Middle East oil and gas supply. But Australia and Turkey — the world's second-largest coal exporter and seventh-largest coal importer, respectively — have remained cautious in their framing of the transition in Cop communications, and fossil fuel discussions are likely to be confined to the sidelines . Instead, Turkey has crafted a broad voluntary "35-by-35" global goal for electricity to reach 35pc of global final energy consumption by 2035, up from around 20pc now, which the IEA hopes will get the backing of Cop delegates . Electrification talks are expected to remain informal, although disagreements could spill into official negotiations. Many European countries would like the goal to include a clean energy element, but others, including Russia and the Arab Group at the summit, see no need for new targets. Laurence Tubiana, chief executive of the European Climate Foundation and architect of the Paris agreement, does not expect clean energy language linked to the electrification target making it into the final Cop communique. But China's position will be key — Beijing "supports higher levels of electrification as part of the energy transition", environment vice-minister Li Gao says, while also noting "differing views among countries". China has "a lot to gain as a leader in electrification", says Global Renewable Alliance chief executive Bruce Douglas, noting that the country has never before linked electrification "so strongly" to energy transition. But it is still unclear what role China — the world's largest emitter — wants to play. It could find itself at odds over trade and finance with the EU, which is looking to claw back benefits from the clean energy transition to bolster domestic industry. Money talks Finance is another potential stumbling block. The African Group at Cop has asked for an extra agenda item on adaptation finance, potentially sparking disagreement on day one. Last year's Cop summit agreed to triple adaptation finance for developing countries, but failed to make material progress . Antalya must be about "delivery, not another cycle of promises", African Group chair Antwi-Boasiako Amoah says. The Least Developed Countries (LDCs) cohort at Cop agrees that finance "must reach developing countries". The EU has signalled that it is "ready to deliver on existing commitment", while Australia launched a voluntary access to finance plan during a pre-Cop event organised with Pacific nations. That event — which took international leaders to one of the countries most vulnerable to climate change, Tuvalu — underlined the need to reinforce the 1.5°C goal, and LDCs and Island States have called for the temperature limit to be at the heart of the negotiations after pushback from some quarters at recent summits. By Caroline Varin CO2 emissions from fossil fuel use, 2025 mn t % World 39,962 1 China 13,057 32.7 2 US 4,739 11.9 3 India 3,210 8.0 4 EU27 2,445 6.1 5 Russia 2,010 5.0 6 Japan 977 2.4 7 Iran 903 2.3 8 Indonesia 840 2.1 9 International shipping 712 1.8 10 Saudi Arabia 647 1.6 11 International aviation 625 1.6 ― EU database, Edgar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Drone attack halts output at Iraq's Khor Mor gas plant

26/11/09

News

26/11/09

Drone attack halts output at Iraq's Khor Mor gas plant

London, 9 November (Argus) — Production has been suspended at the Khor Mor gas facility in Iraq's Kurdistan region after a suspected drone attack caused a fire late on 8 November, shareholder Dana Gas said. The fire has been extinguished and there were no injuries, the company said. Production remains suspended while damage is assessed, with Dana Gas co-ordinating with the Kurdistan Regional Government (KRG) and Iraq's federal authorities. Khor Mor has installed gas-processing capacity of 750mn ft³/d following the completion of an expansion in October 2025. The facility supplies power stations in Erbil, Chemchemal and Bazian, providing gas for more than 75pc of the Kurdistan region's electricity generation capacity. It also began supplying the Taza power station in Kirkuk earlier this year under an agreement to deliver 100mn ft³/d. Khor Mor is operated by the Pearl Petroleum consortium, in which Dana Gas holds a 35pc stake. Dana Gas' share of production from the field averaged 47,550 b/d of oil equivalent in the third quarter, including condensate and LPG sold to the KRG and local traders. Output was up by 18pc on the year, reflecting higher utilisation of the expanded facilities. Pearl temporarily suspended production and declared force majeure on 28 February because of the regional effects of the Iran war. Production resumed in April after a period of intermittent activity, but was partially suspended again on 17 July because of credible security threats and escalating tensions in the region. Output gradually resumed from 27 July. Khor Mor also underwent a brief planned maintenance shutdown in October, with the work completed ahead of schedule. The war has caused wider disruption to oil operations in the Kurdistan region, where several producers suspended output on security grounds before gradually restarting fields as conditions allowed. By James Keates Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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