Category: Nieuws

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Renewables overtake coal as Germany’s main energy source

FRANKFURT (Reuters) – Renewables overtook coal as Germany’s main source of energy for the first time last year, accounting for just over 40 percent of electricity production, research showed on Thursday.

The shift marks progress as Europe’s biggest economy aims for renewables to provide 65 percent of its energy by 2030 in a costly transition as it abandons nuclear power by 2022 and is devising plans for an orderly long-term exit from coal.

The research from the Fraunhofer organization of applied science showed that output of solar, wind, biomass and hydroelectric generation units rose 4.3 percent last year to produce 219 terawatt hours (TWh) of electricity. That was out of a total national power production of 542 TWh derived from both green and fossil fuels, of which coal burning accounted for 38 percent.

Green energy’s share of Germany’s power production has risen from 38.2 percent in 2017 and just 19.1 percent in 2010.

Bruno Burger, author of the Fraunhofer study, said it was set to stay above 40 percent this year.

“We will not fall below the 40 percent in 2019 because more renewable installations are being built and weather patterns will not change that dramatically,” he said.

Green power skeptics say that output merely reflects favorable weather patterns and does not prove the sector’s contribution to secure energy supplies.

Solar power increased by 16 percent to 45.7 TWh due to a prolonged hot summer, while installed capacity expanded by 3.2 gigawatts (GW) to 45.5 GW last year, according to the Fraunhofer data.

The wind power industry produced 111 TWh from combined onshore and offshore capacity of just under 60 GW, constituting 20.4 percent of total German power output.

Wind power was the biggest source of energy after domestically mined brown coal power which accounted for 24.1 percent.

Coal plants run on imported hard coal contributed 75.7 TWh, or 13.9 percent of the total.

Hydropower only accounted for 3.2 percent of power production at 17 TWh, as extreme summer heat dried out rivers and was accompanied by low rainfall. Biomass output contributed 8.3 percent.

Gas-to-power plants accounted for 7.4 percent of the total; nuclear energy for 13.3 percent; with the remainder coming from oil and waste burning.

Germany was a net exporter of 45.6 TWh of power in 2018, mostly to the Netherlands, while importing big volumes from France.

Reporting by Vera Eckert, editing by Susan Fenton

Gas to overtake coal as world’s second largest energy source by 2030: IEA

LONDON (Reuters) – Natural gas is expected to overtake coal as the world’s second largest energy source after oil by 2030 due to a drive to cut air pollution and the rise in liquefied natural gas (LNG) use, the International Energy Agency (IEA) said on Tuesday.

The Paris-based IEA said in its World Energy Outlook 2018 that energy demand would grow by more than a quarter between 2017 and 2040 assuming more efficient use of energy – but would rise by twice that much without such improvements.

Global gas demand would increase by 1.6 percent a year to 2040 and would be 45 percent higher by then than today, it said.

The estimates are based on the IEA’s “New Policies Scenario” that takes into account legislation and policies to reduce emissions and fight climate change. They also assume more energy efficiencies in fuel use, buildings and other factors.

“Natural gas is the fastest growing fossil fuel in the New Policies Scenario, overtaking coal by 2030 to become the second-largest source of energy after oil,” the report said.

China, already the world’s biggest oil and coal importer, would soon become the largest importer of gas and net imports would approach the level of the European Union by 2040, the IEA said.

According to Reuters calculations, based on China’s General Administration of Customs data, China has already overtaken Japan as the world’s top natural gas importer.

Although China is the world’s third-biggest user of natural gas behind the United States and Russia, it has to import about 40 percent of its needs as local production cannot keep pace.

Emerging economies in Asia would account for about half of total global gas demand growth and their share of LNG imports would double to 60 percent by 2040, the IEA report said.

“Although talk of a global gas market similar to that of oil is premature, LNG trade has expanded substantially in volume since 2010 and has reached previously isolated markets,” it said. LNG involves cooling gas to a liquid so it can transported by ship.

COAL AND CARBON

The United States could account for 40 percent of total gas production growth to 2025, the IEA said, while other sources would take over as U.S. shale gas output flattened and other nations started turning to unconventional methods of gas production, such as hydraulic fracturing or fracking.

Global electricity demand will grow 2.1 percent a year, mostly driven by rising use in developing economies. Electricity will account for a quarter of energy used by end users such as consumers and industry by 2040, it said.

Coal and renewables will swap their positions in the power generation mix. The share of coal is forecast to fall from about 40 percent today to a quarter in 2040 while renewables would grow to just over 40 percent from a quarter now.

However, the world’s coal plants make up one third of energy-related carbon dioxide (CO2) emissions today. Many of those are in Asia, where average coal plants are on average 11 years old with decades left to operate, compared with an average age of 40 years in the United States and Europe.

“We can create some room for maneuver by expanding the use of Carbon Capture Utilization and Storage, hydrogen, improving energy efficiency, and in some cases, retiring capital stock early. To be successful, this will need an unprecedented global political and economic effort,” said Fatih Birol, the IEA’s executive director.

Energy-related CO2 emissions could reach a record high this year, the IEA said, and will continue to grow at a slow but steady pace to 2040. From 2017 levels, the IEA said emissions would rise by 10 percent to 36 gigatonnes in 2040, mostly driven by growth in oil and gas.

But this is “far out of step” with what scientific knowledge says would be required to tackle climate change, it added.

Reporting by Nina Chestney; Editing by Edmund Blair and Louise Heavens

ARA Oil Products Stocks Highest Since September

10 January, 2020 (Argus) – The total volume of oil products held independently in storage in the Amsterdam-Rotterdam-Antwerp (ARA) area rose on the week to reach 15-week highs, according to the latest data from consultancy Insights Global.

By far the most significant rise was recorded in fuel oil inventories, which increased on the week. Firm demand in Europe for sulphur fuel oil left little available for export, and very little departed the ARA area. Some fuel oil did depart for the Mediterranean, where supply of VLSFO is tight and demand high. And a tanker departed for the US, possibly carrying high sulphur fuel oil for use in coking units on the Gulf Coast.

Gasoil stocks rose to reach their highest since 31 October. Cargoes arrived from India, Russia, the UAE and the US. Gasoil barge traffic around the ARA area and along the river Rhine rose on the week but from a low base, following a seasonal slowdown over the festive period. Relatively warm temperatures continued to weigh on seasonal demand for heating oil, making barge traffic marginally lower year on year despite the week-on-week rise. Tankers departed for Denmark, the UK and France, where strike action is affecting diesel production.

Naphtha inventories also rose, increasing to reach their highest since March 2019. Tankers arrived from Finland, Norway, Portugal, Russia and the UK, while none departed. Rising prices of rival petrochemical feedstock propane prompted a week-on-week increase in naphtha flows up the river Rhine to petrochemical sites in Germany.

Gasoline inventories fell, owing to a lack of incoming cargoes. Barge activity rose on the week, again from a low base following a seasonal slowdown. High US inventories meant that no tankers departed for either the US Atlantic or Gulf coasts, but tankers did depart for Mexico, Puerto Rico, Canada, Saudi Arabia and west Africa. Outflows to west Africa, a key export destination, fell on the week. Tankers arrived from the Baltics, Sweden and the UK.

Jet kerosine inventories fell on the week to reach their lowest since 10 January 2019. The drop in stocks was prompted by firm demand in northwest Europe, in line with seasonal expectations. Tankers departed for the UK, while none arrived.

Reporter: Thomas Warner

ARA Oil Products Stocks Highest Since October

2 January, 2020 (Argus) — The total volume of oil products held independently in storage in the Amsterdam-Rotterdam-Antwerp (ARA) area rose by around 6pc on the week to reach 11-week highs, according to the latest data from consultancy Insights Global.

Inventory levels of all products except jet kerosine rose on the week. The highest rise in outright terms was in gasoline inventories, which rose by 13pc on the week to 1.12mn t, the highest since mid-August. Export interest remained low amid poor arbitrage economics to the US, where inventories have risen for seven consecutive weeks and are at nine-month highs. Tankers departed for the Mideast Gulf, the Caribbean, the Mediterranean, Mexico and west Africa. But incoming cargoes of finished grade gasoline and components from France, Russia, Spain and the UK more than offset the outgoing volume.

Naphtha inventories rose by more than any other surveyed product in percentage terms, increasing by 14.7pc on the week to 289,000t. The total is the highest recorded since March 2019. No tankers departed the area carrying naphtha cargoes, and barge traffic on the river Rhine was subdued owing to a seasonal slowdown in Germany. Naphtha flows into the European hinterland are likely to rise in the coming weeks on firm demand from petrochemical end-users.

Gasoil stocks rose by 3.5pc to reach eight-week highs of 2.49mn t. Cargoes arrived from Russia and the Baltics, and departed for France and the UK. Gasoil barge traffic around the ARA area and along the river Rhine fell by around 50pc on the week, weighed down by a lack of market activity in Germany but also by relatively mild temperatures that reduced seasonal demand for heating oil.

Fuel oil stocks in the ARA hub rose by 9.1pc on the week to reach around 1mn t. Rising production of 0.5pc sulphur fuel oil ahead of the IMO 2020 global marine sulphur cap deadline on 1 January probably prompted the stockbuild. Tankers arrived from Denmark, France, Poland, Russia and the UK, and departed for the Mediterranean and west Africa.

Jet kerosine inventories fell by 3.5pc on the week to reach their lowest since 10 January 2019. The drop in stocks was prompted by high demand in northwest Europe, in line with seasonal expectations. Tankers departed for the UK, and a part-cargo arrived from India.

By Thomas Warner

ARA oil products stocks rise on the week

27 December, 2019 (Argus) — The total volume of oil products held independently in storage in the Amsterdam-Rotterdam-Antwerp (ARA) area rose by around 6pc on the week, according to consultancy Insights Global.

Inventory levels of all products except jet kerosine rose on the week. The highest rise was seen in gasoline inventories, which rose by 23.3pc on the week to 994,000t, the highest since mid-October. Export interest remained low amid poor arbitrage economics to the US and west Africa, as well as the seasonal gasoline demand lull. Tankers arrived from the Baltic, France, Spain, and the UK, and departed for Brazil, the Mediterranean, and Saudi Arabia.

The next highest stockbuild was observed in naphtha inventories, which rose by 21.2pc on the week to 252,000t, amid low demand from petrochemical end-users in the ARA area and along the river Rhine. Most naphtha demand in the area is therefore more likely to be coming from gasoline blenders. Naphtha barge flows into the northwest European hinterland rose in early December in anticipation of a seasonal slowdown in trading activity, which depressed trading volumes during the week to yesterday. Tankers arrived in the ARA from Algeria, Denmark, Portugal and Russia.

Gasoil stocks were built by 1.1pc to 2.4mn t between 19 and 27 December and remain very close to their average of 2.42mn t over the preceding seven weeks. Cargoes arrived from India and the US, while several departed for France as the country’s refineries continued to be severely disrupted. Shipments of US diesel to Europe have been relatively sparse over the past few months, but arbitrage economics on the route are now improving.

Fuel oil stocks in the ARA hub rose by 6.7pc on the week to reach 923,000t, beginning to recover from a big 15pc draw in the previous week. Rising production of 0.5pc sulphur fuel oil ahead of the IMO 2020 global marine sulphur cap deadline on 1 January was probably the reason for the stockbuild, while economics for European high-sulphur fuel oil’s regular outlet in Singapore have been made unviable in recent months, which could be resulting in more product remaining in tanks. Fresh high-sulphur fuel oil imports from Russia drove stocks higher amid weak export demand, while tankers also arrived carrying fuel oil from the UK and Sweden.

Jet kerosine inventories fell by 3.8pc on the week to reach their lowest since the week 10 January. The drop in stocks was prompted by high demand in northwest Europe, in line with seasonal expectations. Tankers departed for the UK and Ireland, while no tankers were seen to have arrived into the area over the last week.

ARA Oil Product Stocks Rise on the Week

12 December, 2020 (Argus) – The total volume of oil products held independently in Amsterdam-Rotterdam-Antwerp (ARA) rose in the week to yesterday, the latest data from consultancy Insights Global show.

Inventory levels in ARA rose on the week, buoyed by rising stocks of gasoil, fuel oil and gasoline. Gasoline inventories rose to reach seven-week highs, with outflows to the US and west Africa both falling. Tankers also departed for Puerto Rico and the Mediterranean for orders. Cargoes arrived from France, Norway, Russia, Sweden and the UK. Barge traffic around the ARA area was steady on the week and no congestion was reported.

Fuel oil inventories rose on the week, with tankers arriving from the Baltics, Denmark, France and Russia. There is likely to be low sulphur fuel oil compliant with upcoming changes to maritime fuel regulations. Tankers departed for west Africa.

Gasoil stocks rose amid a slight increase in incoming volumes. Tankers arrived from the Baltics and Russia, and departed for the UK. Barge demand from along the river Rhine was strong — broadly stable on the week — with consumers keen to bring in diesel and heating oil cargoes ahead of the festive season. Market activity is likely to be low in Germany during the latter half of December.

Jet fuel stocks in ARA fell on rising demand from along the river Rhine, with inland airports increasing their fuel intake before anticipated high demand over the Christmas period. A part cargo discharged in ARA from Abu Dhabi and tankers left for the UK and Vietnam.

Naphtha inventories fell, again prompted by higher demand from along the river Rhine. Petrochemical consumers are likely bringing naphtha out of storage in the ARA area to consume before the year end. Tankers arrived from Algeria, France, Latvia and Spain, while none departed.

Reporter: Thomas Warner

ARA Oil Product Stocks Fall to Their Lowest in a Year

28 November, 2019 (Argus) — The total volume of oil products held independently in the Amsterdam-Rotterdam-Antwerp (ARA) hub in the week to yesterday to reach the lowest level since November last year, according to the latest data from consultancy Insights Global.

Inventory levels in ARA typically reach their lowest during late autumn and winter owing to end-of-year destocking and anticipated lower winter demand, which impacts production during the third quarter.

Stocks of all surveyed products fell during the week to 27 November. Gasoil stocks dropped the most in outright terms, amid low imports and a week-on-week rise in barge flows from ARA to the area around Shell’s Godorf refinery. Gasoil supply in the area has been squeezed in recent weeks because of problems restarting units at Godorf following maintenance. But demand from other inland destinations was weak, with low Rhine water levels prompting loading restrictions for barges. A tanker carrying gasoil arrived in ARA from Saudi Arabia over the past week, while cargoes left for France, Germany and the UK.

Naphtha inventories fell by the most in percentage terms, dropping on the week. Steep backwardation in the northwest European market — where prompt prices are higher than forward values — has deterred buyers throughout November, prompting stock draws and pushing inventories to two-month lows. Naphtha cargoes arrived in ARA from France, Norway and Portugal in the week and none arrived.

Gasoline inventories fell on the week to reach their lowest level since November 2016, despite a drop in shipments to the US and west Africa. Gasoline cargoes departed ARA for both regions but the total volume was lower than the previous week. Gasoline tankers also left for Mexico and the Mediterranean. Inflows were also lower on the week, weighed down by a seasonal fall in gasoline demand. Barge congestion prompted some gasoline and gasoline component loading delays around Amsterdam and Antwerp.

Fuel oil stocks declined on the week — cargoes arrived from Poland, Russia and Sweden but the incoming volume was the lowest in several weeks. An Aframax tanker carrying fuel oil departed for Jeddah in Saudi Arabia and tankers also departed for west Africa.

Jet fuel stocks in ARA fell. Demand was low, in line with seasonal expectations. Ample supply, particularly in the Mediterranean, continued to weigh on European jet fuel premiums to the underlying gasoil contract. No tankers arrived or departed ARA carrying jet fuel cargoes.

Reporter: Thomas Warner

ARA Oil Product Stocks Reach Fresh 11-Month Lows

21 November, 2019 (Argus) — The total volume of oil products stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) area fell in the week to yesterday, and reached their lowest since December 2018, according to the latest data from consultancy Insights Global.

Inventory levels in ARA typically reach their lowest during late autumn and winter owing to end-of-year destocking and anticipated lower winter demand that impacts production during the third quarter. Fuel oil and gasoline inventories were the only two surveyed product groups to record week-on-week rises.

The arrival of fuel oil cargoes from Canada, France, Italy, Poland and Russia more than offset the departure from ARA of the Aframax Minerva Concert for Singapore, and the departure of two panamaxes for west Africa.

Gasoline inventories rose by 0.9pc on the week, supported by inflows from France, Germany, Italy and the UK. The volume of barge traffic was broadly stable and no congestion was reported at loading and discharge terminals. Tankers departed the region for the Mediterranean, Mexico, the US and west Africa.

Inventories of all other products fell incrementally on the week. Gasoil stocks dropped amid firming demand for heating oil in the European hinterland, which contributed to a rise in middle distillate barge bookings. Barge traffic from ARA into Germany was also supported by falling Rhine water levels, with market participants working to bring in cargoes before loading restrictions increase further. Tankers departed ARA for Brazil, Ireland, the UK, the US and west Africa and arrived from India, Russia and Saudi Arabia.

Naphtha inventories fell on the week and demand from petrochemical end-users along the river Rhine weakened, reducing barge activity. No naphtha tankers departed ARA and cargoes arrived from Algeria, France, Latvia, Poland, Russia and the UK.

Jet fuel stocks in ARA fell. Demand was low in line with seasonal expectations, and ample supply particularly in the Mediterranean continued to weigh on European jet fuel premiums to the underlying gasoil contract. No tankers arrived or departed carrying jet fuel cargoes.

Reporter: Thomas Warner

ARA Oil Product Stocks Fall Heavily

14 November, 2019 (Argus) — Total oil products held independently in the Amsterdam-Rotterdam-Antwerp (ARA) storage hub have fallen over the past week to reach their lowest level since December 2018, according to the latest data from consultancy Insights Global.

Inventory levels in ARA typically reach their lowest point during late autumn and winter.

Fuel oil inventories fell the most, dropping on the week to reach the lowest since May. Tankers carrying fuel oil arrived in ARA from Denmark, France, Poland, Russia and the UK and departed for west Africa and the Mediterranean, most likely for onward transit east of Suez. Less fuel oil arrived from Russia amid rising Russian shipments to the US.

Naphtha inventories fell after a period of tight supply in northwest Europe, resulting from low inflows from the Mediterranean. Barge congestion in the Rotterdam area that disrupted loadings a week earlier eased, following a period of heightened gasoline blending activity. But demand from petrochemical facilities in the area and along the river Rhine remained firm, weighing on inventories. Tankers carrying naphtha arrived in ARA from France, Norway, Russia and the UK over the past week, while none arrived.

Gasoil inventories — the single largest product group by volume — fell on the week to reach their lowest level since March. Imports fell week-on-week and cargoes arrived from Russia only. Low temperatures supported heating oil demand, prompting a rise in barge traffic into Germany. Gasoil tankers also departed for the UK and Brazil.

Gasoline inventories fell on the week, weighed down by a rise in exports. Tankers carrying gasoline departed ARA for the Mediterranean, Puerto Rico, west Africa and the US and arrived from the Baltics, Spain and the UK. Gasoline barge traffic eased week-on-week, but is likely to recover in the coming weeks owing to rising gasoline barge liquidity in the area.

Jet fuel stocks in ARA fell in the past week. Demand was low, in line with seasonal expectations. Supply in Europe remains ample on high arrivals from east of Suez in recent weeks. A total of jet fuel is scheduled to arrive at ports in Europe in November and a preliminary is already scheduled to make the voyage from east of Suez to Europe in December.

Reporter: Thomas Warner

ARA Oil Product Stocks Rise on Fuel Oil Stockbuilding

8 November, 2019 (Argus) – The total volume of oil products held independently in Amsterdam-Rotterdam-Antwerp (ARA) rose during the week to yesterday, according to the latest data from consultancy Insights Global.

Fuel oil inventories rose on the week, amid continued stockbuilding of IMO 2020 compliant low-sulphur fuel oil ahead of upcoming changes to maritime fuel regulations. Demand for IMO-compliant fuel oil is already rising, as shipowners operating long-haul routes will need to use compliant fuels for voyages scheduled to reach their destination after 1 January. Tankers arrived in ARA from Denmark, Poland, Russia and the UK and departed for west Africa.

Naphtha inventories rose, bolstered by tankers arriving from Russia, Spain, the UK and west Africa. Tight supply in the Mediterranean caused by scheduled refinery turnarounds supported naphtha prices immediately prior to and during the reporting period, stimulating inflows. But demand from along the river Rhine prompted a week-on-week rise in barge movements inland, prompting some naphtha barge congestion in the Rotterdam area.

Gasoil inventories, the single largest group by volume, were the only product to fall on the week. Inflows remained healthy, with tankers arriving from Russia and Saudi Arabia. But rising demand from areas adjacent to ARA prompted the overall fall in inventories, with cargoes leaving via tanker and barge to France and Germany. Rising Rhine water levels weighed on barge freight rates, supporting flows into both countries. Unseasonably low temperatures may also have increased inland demand for heating oil. Tankers also departed for the UK and west Africa.

Gasoline inventories rose on the week, with healthy outflows to the US and west Africa largely offset by an increase in gasoline coming into ARA from Germany. Gasoline production is rising in Germany as refineries return from scheduled Autumn maintenance. Tankers arrived in the ARA area from Italy, Norway, Portugal and the UK and departed for Brazil, the US and west Africa.

Jet fuel stocks in ARA rose. Demand was low in line with seasonal expectations, and jet fuel traffic was minimal. Recent contango in the jet forward curve supported inflows. Tankers arrived from Saudi Arabia and South Korea, and departed for the UK and Ireland.

Reporter: Thomas Warner