Serving Pakistan’s energy needs
With more than half of Pakistan’s total oil product demand being met through imports, fuel marketer and retailer Gas & Oil Pakistan sees tremendous opportunity in serving the markets supply chain GAS & Oil Pakistan (GO) is positioning itself to capitalise on the country’s flourishing market dynamics with plans to substantially increase its storage terminal network to meet the growing demand for oil products. The company, headquartered in Lahore, currently has four owned and operated depots and two storage terminals. Its most strategically important terminal was commissioned in the fourth quarter of 2018. Built on 15.5 acres of land close […]
Storage market shocked into new fundamentals
Cyril Widdershoven, Middle East & geopolitical expert & global head strategy & risk at Berry Commodities Fund, shares his thoughts on some of the biggest market disruptions and uncertainties to happen in a generation and why future opportunities for the industry still exist After years of being a statistical factor in oil market developments, looking at the OPEC+ and US shale oil confrontation, driven by stable growing demand and reoccurring supply issues, the fundamentals of the total constellation have changed dramatically. The year 2020 has started with a bang, not only for the global economy, commodities and trade, but […]
Towards tank tops
The one thing storage operators needn’t worry about for the rest of the year, is whether or not their tanks will be filled THE OIL market is currently deep in uncharted territory having to deal simultaneously with a supply shock from the abrupt termination of the OPEC+ production cut agreement and a demand shock from the coronavirus (COVID-19) pandemic. The market has demonstrated before, that it can deal with either shock by itself. The great financial crisis of 2008/2009 was solved by a combination of stimulus spending and OPEC cuts, while the decision of OPEC to cut production in November […]
A time for change
There is no denying that the world is changing and continues to change at a staggering pace. If it wasn’t clear enough at the beginning of the year, then it has been brought even more sharply into focus in recent weeks with the global political, social and economic response to the COVID-19 pandemic IN THESE turbulent and uncertain times storage terminals stand tall and strong, acting as a vital conduit for energy flows to keep countries and economies moving. In these fastchanging new market dynamics, the adaptability of storage terminals to new forms of energy and new supply and demand […]
Indonesia back in the oil & gas race
LIKE the kid who does not how to give up after losing a race, Indonesia is back at the oil and gas production race. In a recently published news report on March 4, the government’s Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) said that two developments last year ‘added optimism’ to Indonesia’s goal of becoming a leading gas producer. He was referring to the resumption of a stalled gas project at the offshore Masela Block and the discovery of a giant gas reserve at the Sakakemang Block in South Sumatra. But as reality always is in the […]
Unlocking market potential with storage assets
With predictions that a more varied mix of energy will be needed in the near future, GP Global is unlocking new market potential by developing storage infrastructure for a diverse portfolio of product lines The energy conglomerate, which operates in oil and gas trading, bunkering, lubricants, bitumen, aviation fueling and shipping & logistics, currently has three storage terminals strategically positioned in key demand centres including the UAE and India. To complement its increasingly diverse portfolio of energy assets, its storage division is perfectly located in key trading hubs to capitalise on existing and emerging market dynamics. And with a radically […]
The death and transformation of fuel oil
The global fuel oil market is still adapting to the momentous changes forced upon it by the IMO 2020 spec change. JBC ENERGY expects1, as it did in 2017, that fuel oil will remain the primary bunker fuel at least throughout the new decade. That said, the two million b/d shift from high sulphur fuel oil (HSFO) to 0.5% very low sulphur fuel oil (VLSFO) completed in recent weeks has irreversibly fragmented the fuel oil market. This fragmentation is transforming business dynamics by ushering in a new three tier fuel oil market consisting of VLSFO, High Sulphur Straight Run fuel […]
US energy production transforms global trade
Before January ended, two major events struck the oil market that speak volumes in how global trade has been transformed by US energy production PRICE risk in 2020 is now skewed to the downside as global economic growth and oil demand are under pressure from an outbreak of coronavirus. Oil futures surged in reaction to the US targeted killing of Iranian General Qasem Soleimani on January 2 but sold off less than a week later as Iran took steps to avoid war with the US, quickly unwinding an escalated geopolitical risk premium in global oil prices. Ten years earlier, global […]
Balancing the oil market between traditional and new regulatory political risk
ANALYSIS of markets, energy markets no less than others, often begins with a look at the fundamentals. In energy markets these analyses tend to change, move and require constant updating. International politics, on the other hand, while widely regarded as chronically fickle, have rarely required a deeper analysis of its fundamentals. The fundamentals of the global economy and politics have, for many decades, proved to be fairly stable. Yet for several years it has become widely appreciated that global politics are becoming increasingly unstable and that the values and conventions steering international relations in the past decades are under pressure. […]
A new energies era
As new forms of energy continue to thrive and grow on the back of the global energy transition, storage giant Vopak explains how its adaptive and flexible approach ensures it remains relevant in this new energy era THE EMERGENCE of new energies on the back of the growing momentum behind the energy transition is creating opportunities for storage operators to play a key role in carving out new supply chains. The popularity of more environmentally friendly and carbon neutral forms of energy such as hydrogen, solar and electricity is driving demand for logistical infrastructure to supply these new value chains. […]
Preparing for a decade of change
AS the sector enters a new decade, Channoil Consulting’s Chris Reveliotis, examines some of the key challenges facing the storage sector including shifting global trade patterns and the electrification of transport STORAGE in the oil business is about more than just warehousing and logistics. The oil storage industry, and in particular the European one, is more dynamic and different because it intrinsically includes the operations of blending new products and trading them (both locally and internationally). The oil storage industry performs a hybrid role encompassing both traditional logistics and manufacturing functions. Seen in this dual role (manufacturing/trading hubs and logistics […]
Fuelling the future
An innovative new carrier technology that makes hydrogen easier and safer to store, transport & distribute is the first step in facilitating global hydrogen supply to industrial energy sectors The role of renewable energies in reducing the environmental burden of global energy emissions has resulted in an increase in innovative technologies to unlock their full potential. The growth of hydrogen as a fuel, which today is around 60 million tonnes, is testament to the growing global interest in pursuing decarbonised forms of energy. When consumed in a fuel cell hydrogen only produces water and it can be produced from natural […]
An energy storage frontrunner
Following First State Investment’s acquisition of Vopak’s former Amsterdam terminal, Evos Amsterdam is well-positioned to become a frontrunner in current and new forms of energy storage & distribution The Evos Amsterdam terminal has significant potential to be one of the storage leaders in the global energy transition as well as cementing its position in the clean petroleum products market following its acquisition by First State Investment. First State, the international arm of First Sentier Investors, bought Vopak’s terminals in Amsterdam and Hamburg for €600 million and rebranded them to Evos having identified the synergies both facilities have with the company’s […]
