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Market Movers Europe, Feb. 6-10: EU ban on Russian oil takes effect as earthquake in Turkey halts exports

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보기: Market Movers Europe, Feb. 6-10: EU ban on Russian oil takes effect as earthquake in Turkey halts exports

  • 주요 내용
  • Kira Savcenko
  • 원자재
  • Energy Electric Power Energy Transition LNG Natural Gas Oil Metals
  • 길이
  • 01:57

In this week's Market Movers Europe with Kira Savcenko:

  • Ban on Russian products enters into force
  • Key oil exports suspended after earthquake
  • Norway boosts European gas supply
  • Germany's green hydrogen tender comes to a close
  • Mining Indaba kicks off in Cape Town
전체 원고 보기

This week marks the start of EU sanctions banning imports of Russian oil products.

This has been a boon for refiners in the US, Middle East, Africa and Asia, while Russian products make their way further afield.

Markets appear unfazed so far, but industry experts warn of increased complexity in oil logistics.

Helping support prices at the start of the week, Turkey's Ceyhan oil terminal was shut following the massive earthquake in the region, with exports from Azerbaijan and of northern Iraq's Kirkuk crude suspended.

Norway's Equinor will provide a strategy update as the country adapts to being Europe's largest gas supplier – and the profits that come with it.

Key Norwegian gas field Dvalin, operated by Wintershall Dea, is in fact set to resume production on Wednesday, bringing much needed additional supply to the European market.

Dvalin will be able to produce 9 million cu m/d of gas at full capacity, further boosting Norway's strong export capabilities.

Europe's nascent green hydrogen market starts to take shape this week, with Germany's first import tender deadline coming on Tuesday.

The tender under the H2 Global import scheme will focus on hydrogen derivative ammonia for delivery from 2024, with future tenders for methanol and sustainable aviation fuel.

The tender will provide an early market price indication for this key part of the EU's decarbonization goals.

The annual Investing in Mining Indaba kicks off today in Cape Town, South Africa

bringing together mining executives, government officials, traders, and financiers.

Topics to be covered include energy transition metals and minerals, supply chains, the circular economy, security of supply and resource nationalism.

I'm Kira Savcenko, thank you for kicking off your Monday with S&P Global Commodity Insights