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Tue 13 Mar 2018, 12:27 GMT

Oil dropped slightly yesterday, but continues to trade in tight range


By A/S Global Risk Management.

Michael Poulson, Global Risk Management.
Image credit: Global Risk Management
Tonight, the weekly oil stocks data from the American Petroleum Institute (API) will be followed closely for hints of U.S. oil inventory growth/decrease ahead of another inventory report from the Energy Information Administration (EIA) on Wednesday.

The EIA yesterday in its monthly productivity report said that it expects U.S. crude oil production to continue the increase next month, climbing by 131,000 barrels per day for the 7 largest oil plays.

In Libya, a strike at an oil port that exports crude from the huge El Sharara oil field delays loading. Allegedly, negotiations for a solution are ongoing. The strike comes after two large oil fields went offline earlier this month due to pipeline disruptions. Oil production in the country remains fragile.

Turning to economic data, today sees U.S. inflation numbers, the commencement of EU Finance Ministers meeting and overnight, Chinese Industrial Production data and Japan Monetary Policy Meeting Minutes.

MyStar vessel truck-to-ship bunkering. Tallink Group moves towards 100% renewable fuel on Helsinki–Tallinn route  

Megastar and MyStar ferries to run entirely on liquefied biomethane supplied by Elenger.
Site visit at Petronor's synthetic fuels plant at the Port of Bilbao. Petronor’s synthetic fuel plant at the port of Bilbao to begin operations in 2027  

Repsol-owned refiner expects annual production capacity of 2,000 tonnes from €146m facility using captured CO2.
Keel-laying ceremony of Carlotta Cosulich. Fratelli Cosulich lays keel for third methanol-ready bunker tanker in China  

Carlotta Cosulich is part of a four-vessel series designed to support the alternative marine fuels transition.
Vessels at sea render. Kongsberg Maritime to design and equip four methanol-ready tankers for Transpetro  

Norwegian firm wins NOK 300m contract for Brazilian-built vessels through Consórcio MareNova partnership.
Renewable ammonia project pipeline by region chart. Clean ammonia project pipeline shrinks as offtake agreements remain scarce  

Renewable ammonia pipeline falls 0.9 Mt while only 3% of projects secure binding supply deals.
Global Ethanol Association (GEA) logo. Thoen Bio Energy joins Global Ethanol Association  

Shipping group with Brazilian ethanol ties becomes member as association plans export-focused project group.
Geiranger Fjord, Norway. Norway enforces zero-emission rules for cruise ships in World Heritage fjords  

Passenger vessels under 10,000 GT must use zero-emission fuels in Geirangerfjord and Nærøyfjord from January 2026.
D-Flex PSV design render. Longitude unveils compact PSV design targeting cost efficiency  

Design consultancy launches D-Flex vessel as a cost-efficient alternative to larger platform supply vessels.
IBIA hiring graphic IBIA seeks advisor for technical, regulatory and training role  

Remote position will support the association’s IMO and EU engagement and member training activities.
Truck-to-ship LNG bunkering in Hammerfest. Barents NaturGass begins LNG bunkering operations for Havila Kystruten in Hammerfest  

Norwegian supplier completes first truck-to-ship operation using newly approved two-truck simultaneous bunkering design.

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