SINGAPORE FUEL OIL 180 CST (PLATTS) FUTURES - QUOTES Globex. For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. WTI Midland is typically sold into Europe on a delivered basis. Resources held by Western energy majors could be the tip of the iceberg. TIMING OF IMPLEMENTATION: Platts is inviting feedback on a potential implementation for March 2022 cargoes. According to the International Energy Agency, some 250 billion fewer barrels of oil and 30 Tcm less gas will need to be developed by 2040 for the world to hit its Sustainable Development Scenario (SDS), an outlook compliant with the Paris Agreement to hold the rise in global temperatures to below 2 degrees. This video was produced in collaboration with the 22nd annual S&P Global Platts Global Energy Awards which will be broadcast on Thursday, December 10th. Today we’re looking at a third shift confronting the US upstream: digital transformation and the need for the oil and gas workforce to catch up in this area. Globex Futures ; Auto Refresh Is. Receive daily email alerts, subscriber notes & personalize your experience. In Europe, BP and Eni have already laid out plans to shrink their upstream portfolio, largely by shedding higher-cost resources to focus on their lowest-cost barrels. PlattsEuropean fuel oil cargo assessments reflect cargoes of 30,000 mt for both high and low sulfur markets.Cargoes must be free of any restrictions or limitations placed on the cargo buyer, such as resale or destination clauses, and should always reflect standard industry norms and practice.All Platts fuel oil is assessed on a Market on Close assessment process basis. Typically majors produce reserves on their books over a 20-30 year horizon. Opening Remarks. Dated Brent could be opening its doors to US crude as it looks to evolve as a global oil benchmark. — Brazilian supply: Fuel market impacts of Petrobras’ refinery divestments With that in mind, perhaps the bigger threat to the sector in the near term is the potential for stranded value rather than stranded upstream assets. Sustainable aviation fuel can be blended with conventional fossil-based aviation fuel, Platts said. The assessment reflects bids, offers and trades for WTI Midland FOB Scapa Flow, as well as DAP Rotterdam adjusted for freight. Platts first began assessing the European fuel oil barge markets in 1979. Please contact the Client Services team. It is clear to straw-colored in appearance. The West’s top nine oil majors alone are sitting on more than 28 billion barrels of oil equivalent of undeveloped resources, according to company filings, and low prices in 2020 have already sidelined about a third of global oil and gas investments, raising concerns on the potential for future “stranded assets”. The cost of storing fuel oil in VLCCs is about $2-$3/mt a month in floaters, and that to store in landed terminals is about $5-$6/mt a month, both higher than the current monthly contango, market sources said. Following significant growth of US crude exports before the pandemic and then the April 20 price collapse of the NYMEX WTI contract, S&P Global Platts launched its AGS assessment for waterborne cargoes […]. Platts Commodities Bulletin is a daily regional round-up of the top, most recent news, in-depth features, information on our events, and a summary of what's new on platts.com. ... S&P Global Platts Analytics forecasts a bunker demand shift of more than 3 million b/d and Brent crude price rise of as much as $7/b in 2020. WTI MIDLAND: Specifically, Platts is inviting market feedback on the potential addition of US WTI Midland to the basket of crudes reflected in its Dated Brent FOB North Sea, Dated Brent CIF Rotterdam, and Cash BFOE assessments. Platts invites feedback on whether it should only reflect bids and offers for 600,000 barrel cargoes or to also include larger cargoes. — Share—Add your social media profiles to the tool to easily post, share, and connect. Investors have been burned by low returns and are not likely come back in force, according to Waterous. In general terms, fuel oil is any liquid fuel that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, except oils having a flash point of approximately 42 °C (108 °F) and oils burned in cotton or wool-wick burners. Platts also publishes assessments for Cash BFOE three months forward. S&P Global Platts is opening a formal consultation with the market for this US grade to join the traditionally North Sea basket, given it is already closely aligned in terms of price, quality and consumption with Brent, Forties, Oseberg, Ekofisk and Troll. But despite mounting concerns over climate change, most companies are counting on prices that are inconsistent with global warming targets, according to climate think-tank Carbon Tracker. 1:45pm. Chris Midgley, Global Director of Analytics, discusses the global energy outlook in these very uncertain times. Platts Market Data – Oil helps you keep one step ahead of the competition with data and S&P Global Platts benchmark oil price assessments. Ships with scrubbers can continue to use cheaper 3.5% sulfur high-sulfur fuel oil (HSFO). Platts will consider all feedback received on these points and any other areas of interest, and provide an update on any possible changes to methodology after the close of the consultation period. Platts Commodities Bulletin is a daily regional round-up of the top, most recent news, in-depth features, information on our events, and a summary of what's new on platts.com. The rate shot up to $66.67/mt on March 17, according to Platts data, when Saudi Arabia actively chartered VLCCs. In the case of Shell, upstream capex will shrink to around 35%-40% of the total by 2025, down from 50% currently, with about a quarter of spending going on a “growth portfolio” of marketing, power, biofuels and hydrogen. Globex Futures; Globex Options; Auto Refresh Is. The main problem the shipping industry has to address is how it will cope with an unfamiliar set of new fuels in 2020. Fuel oil (also known as heavy oil, marine fuel or furnace oil) is a fraction obtained from petroleum distillation, either as a distillate or a residue. — Diving down the barrel: Where are traders finding value? Platts Analytics expects oil prices to “struggle a bit” in the first half of the year due to the reemergence of shutdowns in March and April to stop the spread of the coronavirus. FEEDBACK: Platts invites comments, questions and other feedback on these proposals by Feb. 5, 2021. By contrast, a higher exposure to short-cycle US shale plays sees Exxon and Chevron rank much better overall in the SDS outlook. The data is now freely available to access via the Platts Fujairah oil … The agreement was largely successful in fostering a recovery in oil prices throughout the summer and fall, but oil demand outlooks […]. Fuel Oil Outright - Fuel Oil 1% CIF NWE Cargoes (Platts) Mini Future. The various components of this guide are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification issues. Cookie Settings | +1-800-PLATTS-8 / +1-800-752-8878 | support@platts.com | sales@platts.com: Copyright © 2020 S&P Global Platts, a division of S&P Global. The Holiday Schedule Alert is sent on Friday and provides information on the world's regional and national holidays impacting the publishing of our assessments, market reports and news wires over the week ahead. Stick around after the interview for the Market Minute, a near-term look at oil market drivers. Access latest coal news and analysis, conferences and events. Over the past three months, the Platts Northwest European HVO assessments were approximately 4.2 times the price of ultra-low sulphur diesel, having averaged $1,388.5 /mt, while the Platts ultra-low sulphur diesel assessments in the same region averaged $332.6. For further details about this gala and how to attend, please visit https://www.spglobal.com/platts/global-energy-awards/attend. @plattsshipping: #COVID19 has sent seismic waves through global #trade. Today's European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures prices with latest European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures charts, news and European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures futures quotes. Jonty Rushforth and Joel Hanley discuss how this might work and what it means for the world’s leading oil benchmark. The addition of the grade to the basket would provide additional volume and would further ensure the continued robustness of the Dated Brent FOB benchmark. Jet fuel Platts price | ATF Price | Aviation Fuel or Jet fuel is a type of aviation fuel designed for use in aircraft powered by gas-turbine engines. 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