#Growing Crude Oil data

[zvaigzdelasas]

Israeli tanks, jets and bulldozers bombarding Gaza and razing homes in the occupied West Bank are being fueled by a growing number of countries signed up to the genocide and Geneva conventions, new research suggests, which legal experts warn could make them complicit in serious crimes against the Palestinian people.

Four tankers of American jet fuel primarily used for military aircraft have been shipped to Israel since the start of its aerial bombardment of Gaza in October.

Three shipments departed from Texas after the landmark international court of justice (ICJ) ruling on 26 January ordered Israel to prevent genocidal acts in Gaza. The ruling reminded states that under the genocide convention they have a “common interest to ensure the prevention, suppression and punishment of genocide”.

Overall, almost 80% of the jet fuel, diesel and other refined petroleum products supplied to Israel by the US over the past nine months was shipped after the January ruling, according to the new research commissioned by the non-profit Oil Change International and shared exclusively with the Guardian.

Researchers analyzed shipping logs, satellite images and other open-source industry data to track 65 oil and fuel shipments to Israel between 21 October last year and 12 July.

It suggests a handful of countries – Azerbaijan, Kazakhstan, Gabon, Nigeria, Brazil and most recently the Republic of the Congo and Italy – have supplied 4.1m tons of crude oil to Israel, with almost half shipped since the ICJ ruling. An estimated two-thirds of crude came from investor-owned and private oil companies, according to the research, which is refined by Israel for domestic, industrial and military use.

Israel relies heavily on crude oil and refined petroleum imports to run its large fleet of fighter jets, tanks and other military vehicles and operations, as well as the bulldozers implicated in clearing Palestinian homes and olive groves to make way for unlawful Israeli settlements.

In response to the new findings, UN and other international law experts called for an energy embargo to prevent further human rights violations against the Palestinian people – and an investigation into any oil and fuels shipped to Israel that have been used to aid acts of alleged genocide and other serious international crimes.

“After the 26 January ICJ ruling, states cannot claim they did not know what they were risking to partake in,” said Francesca Albanese, the UN special rapporteur on the occupied Palestinian territory, adding that under international law, states have obligations to prevent genocide and respect and ensure respect for the Geneva conventions.[...]

“In the case of the US jet-fuel shipments, there are serious grounds to believe that there is a breach of the genocide convention for failure to prevent and disavowal of the ICJ January ruling and provisional measures,” said Albanese. “Other countries supplying oil and other fuels absolutely also warrant further investigation.”

In early August, a tanker delivered an estimated 300,000 barrels of US jet fuel to Israel after being unable to dock in Spain or Gibraltar amid mounting protests and warnings from international legal experts. Days later, more than 50 groups wrote to the Greek government calling for a war-crimes investigation after satellite images showed the vessel in Greek waters.

Last week, the US released $3.5bn to Israel to spend on US-made weapons and military equipment, despite reports from UN human rights experts and other independent investigations that Israeli forces are violating international law in Gaza and the occupied West Bank. A day later, the US approved a further $20bn in weapons sales, including 50 fighter jets, tank ammunition and tactical vehicles.

The sale and transfer of jet fuel – and arms – “increase the ability of Israel, the occupying power, to commit serious violations”, according to the UN human rights council resolution in March.

The US is the biggest supplier of fuel and weapons to Israel. Its policy was unchanged by the ICJ ruling, according to the White House.

“The case for the US’s complicity in genocide is very strong,” aid Dr Shahd Hammouri, lecturer in international law at the University of Kent and the author of Shipments of Death. “It’s providing material support, without which the genocide and other illegalities are not possible. The question of complicity for the other countries will rely on assessment of how substantial their material support has been.”[...]

A spokesperson for the Brazilian president’s office said oil and fuel trades were carried out directly by the private sector according to market rules: “Although the government’s stance on Israel’s current military action in Gaza is well known, Brazil’s traditional position on sanctions is to not apply or support them unilaterally.

Azerbaijan, the largest supplier of crude to Israel since October, will host the 29th UN climate summit in November, followed by Brazil in 2025.[...]

The Biden administration did not respond to requests for comment, nor did Vice-President Kamala Harris’s presidential election campaign team.

Israel is a small country with a relatively large army and air force. It has no operational cross-border fossil fuel pipelines, and relies heavily on maritime imports.[...]

The new data suggests:

•Half the crude oil in this period came from Azerbaijan (28%) and Kazakhstan (22%). Azeri crude is delivered via the Baku-Tbilisi-Ceyhan (BTC) pipeline, majority-owned and operated by BP. The crude oil is loaded on to tankers at the Turkish port of Ceyhan for delivery to Israel. Turkey recently submitted a formal bid to join South Africa’s genocide case against Israel at the ICJ.

•African countries supplied 37% of the total crude, with 22% coming from Gabon, 9% from Nigeria and 6% from the Republic of the Congo.

•In Europe, companies in Italy, Greece and Albania appear to have supplied refined petroleum products to Israel since the ICJ ruling. Last month, Israel also received crude from Italy – a major oil importer. A spokesperson said the Italian government had “no information” about the recent shipments.

•Cyprus provided transshipment services to tankers supplying crude oil from Gabon, Nigeria, and Kazakhstan.[...]

Just six major international fossil-fuel companies – BP, Chevron, Eni, ExxonMobil, Shell and TotalEnergies – could be linked to 35% of the crude oil supplied to Israel since October, the OCI analysis suggests. This is based on direct stakes in oilfields supplying Israeli and/or the companies’ shares in production nationally.[...]

Last week, Colombia suspended coal exports to Israel “to prevent and stop acts of genocide against the Palestinian people”, according to the decree signed by President Gustavo Petro. Petro wrote on X: “With Colombian coal they make bombs to kill the children of Palestine.”

20 Aug 24

[dragonflycap]

What to expect from the stock market this week

Last week, the review of the macro market indicators saw with the July FOMC meeting in the books, equity markets showed cause for concern with a very weak end to the week following weak employment data. Elsewhere looked for Gold ($GLD) to continue its assault on new highs while Crude Oil ($USO) looked to break consolidation lower. The US Dollar Index ($DXY) continued the short term move to the downside while US Treasuries ($TLT) were possibly ready to reverse to an uptrend.

The Shanghai Composite ($ASHR) looked to continue the short term move lower while the short term breakout higher in Emerging Markets ($EEM) was at risk of failing. The Volatility Index ($VXX) looked to remain elevated and rising making the path easier for equity markets to the downside. The charts of the $SPY and $QQQ continued to look productive on the longer timeframe but with continued weakness on the shorter timeframe. The $IWM looked to have given traders another disappointment with yet another failed breakout higher.

The week played out with Gold pulling back from the new high early but finding support midweek and reversing while Crude Oil found support Monday and reversed higher. The US Dollar plunged to a 7 month low Tuesday before bouncing higher while Treasuries saw a blow off top Monday lead to a fallback to retest the breakout. The Shanghai Composite fell to a 6 month low Monday and then consolidated there while Emerging Markets opened with a gap down to ta 6 month low before recovering by week’s end.

Volatility spiked Monday to levels not seen since March of 2020 and then fell back to the low 20’s to end the week. This put initial pressure on equities and they responded by starting the week with large gap down and go move Monday. They recovered the drop by the open Wednesday only to drive lower all that day and then reverse Thursday. Friday saw a much tighter range and they ended the week little changed despite two sessions with moves over 2% amid a narrative of recession fears. What does this mean for the coming week? Let’s look at some charts.

SPY Daily, $SPY

The SPY came into the week in a pullback on the daily chart that had touched the 100 day SMA for the first time since November 2023. It was not done though as it gapped down Monday below the 150 day SMA and finally found support. It rose intraday and continued higher Tuesday filling the gap. Wednesday saw it fall back again and hold over the 150 day SMA before a 2 day move to the upside left it unchanged on the week. The RSI bounced off oversold, consistent with the past 4 touches there, and the MACD is curling back higher but negative.

This was the deepest pullback since the 2022 drop but held short of a 10% decline. The weekly chart shows a near Marubozu candle ending back over the 50 week SMA. If this reversal holds up it will be a higher low, continuing the uptrend. The RSI is holding in the bullish zone on the pullback with the MACD crossed down and positive. There is resistance at 534 and 537 then 540 and 542 before 545.75 and 549.50. Support lower sits at 530 and 524.50 then 520.50 and 517.50 before 513.50 and 510. Pullback in Uptrend.

SPY Weekly, $SPY

With the first week of August in the books, equity markets showed resilience with a rebound from an ugly start induced by growing narrative of recessionary fears. Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a narrowing range. The US Dollar Index continues to drift in broad consolidation while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the short term trend lower while Emerging Markets consolidate under long term resistance.

The Volatility Index looks to have settled after a spike to 4 year highs removing the pressure on equity markets for now. The SPY and QQQ ETF charts continue to look strong on the longer timeframe. On the shorter timeframe both the QQQ and SPY have reset on momentum measures but also have a lot of upside work to put in before they are looking strong. The IWM is now just in consolidation mode again after a failed break higher. Use this information as you prepare for the coming week and trad’em well.

Join the Premium Users and you can view the Full Version with 20 detailed charts and analysis: Macro Week in Review/Preview August 9, 2024

[owenthetokencishet]

They are quite literally unable to see past their quarterly profits. Corporate tunnel vision.

Every major corporation in the world is acting with a gun to their heads. They are reaching a point now where they literally cannot get any bigger. You can only produce so many products at once, and you can only sell so many things to the finite number of people that exist on the planet.

A perfect example is Netflix: Netflix is raising their fees and throwing in ads, all while pulling expensive-to-license shows and producing less and less themselves, because netflix has realized there is nobody left to sell new accounts TO. Hell, it's not even that there aren't enough people without netflix subscriptions (yet) but simply that there aren't enough people left for the company to gain MORE new subscribers this year than they did last year. It's not that netflix isn't turning a profit, it's that it's no longer making profit at a rate shareholders deem worthy of their investment, and in our modern system of capitalism, investors pulling out is a death sentence for a company.

See also: the oil industry

EVEN IF climate change wasn't real, EVEN IF there were no environmentally harmful effects to pumping that much CO2 into the atmosphere, we're still going to have to move away from fossil fuels because it's a LIMITED RESOURCE. There is only so much bitumen on the planet, and the planet cannot crush biomass at a fast enough rate to produce more. Current estimates say we have about 40 years worth of crude oil left at our current consumption rates. Strictly from a business sense, fossil fuels are not sustainable. But FOR NOW, oil is still a "growing" (thank you govenment subsidies) industry, so still a worthwhile investment. The ENTIRE fossil fuel industry is built on short term profits at the expense of sustainability.

In late-stage capitalism, if you're not producing record profits every year, cutting every corner and sparing every expense to keep the board of directors happy for another fiscal year, you go bankrupt.

Enshittification, microtransactions, monetization of every waking moment of your life, ads shoved everywhere they physically can be, selling user data, spending more on anti-carbon-tax lobbying and media campaigns than the carbon tax would cost, these things are all desperate attempts to stay afloat in an economy that demands more than is humanly possible.

Climate activists have been saying that infinite growth is impossible on a finite planet for decades. What we're seeing now is their predictions coming horribly true.

[chemanalystdata]

Petroleum Coke Prices Trend | Pricing | News | Database | Chart

 Petroleum Coke, often referred to as petcoke, plays a significant role in the global energy and industrial landscape. Derived as a byproduct from the oil refining process, its pricing is closely intertwined with the dynamics of crude oil markets, industrial demand, and environmental regulations. Over recent years, petroleum coke prices have demonstrated notable fluctuations, reflecting shifts in global energy policies, market demand, and geopolitical tensions. Petcoke's primary use in industries such as cement production, power generation, and aluminum manufacturing further cements its importance, making price trends a key consideration for stakeholders in these sectors.

One major factor influencing petroleum coke prices is the supply of heavy crude oil, which determines the quantity of petcoke produced. When heavy crude oil availability rises, the supply of petcoke tends to increase, often resulting in downward pressure on prices. Conversely, disruptions in crude oil supply chains, whether due to geopolitical conflicts, natural disasters, or policy changes, can restrict the production of petcoke, driving prices upward. Additionally, fluctuations in crude oil prices directly impact refining margins, which can indirectly affect the cost dynamics of petroleum coke.

Get Real Time Prices for Petroleum Coke: https://www.chemanalyst.com/Pricing-data/petroleum-coke-1119

Global demand patterns also significantly shape petroleum coke pricing trends. In developing economies, the rapid expansion of infrastructure and industrial activities drives the need for cost-effective fuel sources like petcoke. The cement industry, for example, heavily relies on petcoke due to its high calorific value and relatively lower cost compared to other fossil fuels. Similarly, aluminum manufacturers often use petcoke in anode production, further influencing demand and price stability. In contrast, in developed markets, the push towards renewable energy and stricter environmental regulations has led to reduced consumption of petcoke, particularly in power generation, thereby tempering its price growth in these regions.

The environmental impact of petroleum coke use has emerged as a critical factor in its market dynamics. As a carbon-intensive fuel, petcoke faces increasing scrutiny from governments and environmental organizations worldwide. Stricter emissions regulations and carbon pricing mechanisms have created additional costs for industries relying on petcoke, which, in turn, can affect demand and prices. For instance, regions with stringent environmental laws may see lower consumption of petcoke, while markets with laxer policies might continue its usage, creating disparities in global price trends. These regulatory developments underscore the need for industries to balance economic benefits with environmental responsibilities.

Geopolitical factors and trade policies also exert considerable influence on petroleum coke prices. Export restrictions, tariffs, and trade disputes can disrupt supply chains, impacting price stability in international markets. For example, major petcoke-producing nations like the United States and Venezuela often play a pivotal role in shaping global supply. Any changes in their production capacities or trade relations can send ripples across the market. Furthermore, shifts in currency exchange rates can also affect the competitiveness of petcoke exports, adding another layer of complexity to its pricing.

Technological advancements and alternative fuel sources are gradually reshaping the petcoke market. Innovations in energy-efficient technologies and the growing adoption of cleaner alternatives are reducing reliance on carbon-heavy fuels like petcoke. This transition poses challenges for the petcoke market, potentially limiting its price growth in the long term. However, in regions where infrastructure development remains a priority and cost considerations outweigh environmental concerns, demand for petcoke is likely to persist, offering some degree of price support.

In recent years, the increased focus on sustainability and decarbonization has sparked discussions about the future role of petcoke in global markets. While its economic advantages remain undeniable, the environmental challenges associated with its usage cannot be ignored. Industries dependent on petcoke are exploring ways to mitigate its environmental impact through technological upgrades, carbon capture solutions, and fuel blending strategies. These efforts could influence future demand patterns, thereby impacting long-term price trends.

Looking ahead, petroleum coke prices are expected to remain influenced by a mix of market, environmental, and policy factors. Economic growth in emerging markets is likely to sustain demand, particularly in sectors like cement and aluminum manufacturing. However, the transition to cleaner energy sources and stricter emissions standards could pose challenges for the market. Stakeholders must stay informed about these evolving trends to navigate the complexities of the petcoke market effectively.

In conclusion, petroleum coke prices reflect a dynamic interplay of supply and demand forces, regulatory frameworks, and broader economic conditions. While the market continues to offer opportunities for industries relying on cost-effective energy solutions, the increasing emphasis on sustainability is reshaping its trajectory. By understanding these underlying factors, businesses can better anticipate price movements and adapt their strategies to remain competitive in a rapidly changing global landscape.

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[industrynewsupdates]

Cooling Tower Market Growth: Key Drivers and Opportunities

The global cooling tower market was valued at USD 3.85 billion in 2023, and it is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030. This growth is expected to be driven by several factors, including increasing environmental regulations and the growing concerns associated with the plumes (vapor emissions) produced by industries such as power generation and chemicals. Governments worldwide are implementing stricter environmental policies to reduce pollution and ensure sustainable industrial practices, and these policies are expected to drive a greater demand for cooling tower solutions. Cooling towers play a critical role in managing and dissipating excess heat from industrial operations, helping businesses comply with these regulations while maintaining efficient operations.

In commercial settings, HVAC (Heating, Ventilation, and Air Conditioning) systems are essential for providing a cool and comfortable environment in large buildings such as office complexes, airports, hospitals, conference centers, and hotels. These buildings often rely on cooling towers as part of their HVAC systems to ensure effective temperature regulation and to prevent overheating. Cooling towers help to absorb and remove excess heat, thus maintaining the desired indoor climate. As the demand for climate-controlled spaces in commercial construction continues to grow, the use of HVAC systems—and by extension, cooling towers—is expected to increase, further boosting the market for cooling towers in the coming years.

Gather more insights about the market drivers, restrains and growth of the Cooling Tower Market

Regional Insights

Asia Pacific

In 2023, Asia Pacific emerged as the leading region in the global cooling tower market, capturing 30.9% of the total revenue share. This dominance is primarily attributed to the ongoing economic growth in key countries such as China, India, Thailand, Indonesia, and Malaysia. As these nations continue to strengthen their economies, governments are increasingly adopting supportive policies to encourage investments in the extraction of natural resources, particularly crude oil and natural gas. This growing focus on natural resource extraction is expected to boost oil extraction activities in the region, which will in turn drive a higher demand for cooling towers. Cooling towers are essential in the oil & gas industry, where they are used to manage excess heat generated during extraction and processing, ensuring safer and more efficient operations. As investments in the energy sector rise, the need for cooling towers in Asia Pacific is set to grow, providing substantial market opportunities in the coming years.

North America

In 2023, North America, driven by the United States and Canada, held a significant share of the global cooling tower market. This strong market presence can be attributed to the widespread presence of large-scale data centers, intelligent buildings, and companies involved in building automation. With the ever-increasing demand for both structured and unstructured data, combined with the rapid rise of cloud computing, the global data center industry is expected to experience significant growth during the forecast period. As the data center sector expands, the demand for cooling towers will also rise, since cooling towers play a critical role in maintaining optimal temperatures in these high-performance environments. Data centers require effective cooling systems to prevent overheating of servers and other equipment, which ultimately results in reduced energy consumption. Cooling towers are integral to this process, helping to ensure that data centers operate efficiently and cost-effectively. As the region continues to invest in both digital infrastructure and energy-efficient technologies, the demand for cooling towers in North America is forecast to remain strong throughout the projection period.

Middle East & Africa

The Middle East & Africa (MEA) region is experiencing rapid industrial growth, which is expected to positively influence the cooling tower market. According to the World Bank, the region’s manufacturing production grew from 12% in 2020 to 13% in 2021, reflecting a strong upward trend in industrial activity. Countries like Turkey, Israel, and Saudi Arabia are witnessing particularly rapid industrialization, contributing to a significant portion of the region’s manufacturing output. As industrial activity increases, the demand for water cooling towers—which are used to manage heat in industries such as oil & gas, power generation, and manufacturing—is expected to rise. Cooling towers are integral to these industries, as they are used to dissipate the heat generated by various industrial processes. As the manufacturing industry continues to grow and new industrial and commercial projects emerge, the demand for cooling towers is expected to increase, driving market growth in the Middle East and Africa.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global HVAC systems market size was estimated at USD 233.55 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030.

• The global steel market size was estimated at USD 1,469.04 billion in 2023 and is projected to grow at a CAGR of 5.3% from 2024 to 2030.

Key Companies & Market Share Insights

To capitalize on the growing demand for cooling towers, key manufacturers in the market are implementing a variety of strategies, such as acquisitions, geographical expansions, new joint ventures, product innovations, and mergers. These strategies are designed to enhance market penetration and cater to the evolving technological requirements of various industries, including HVAC, power generation, oil & gas, and industrial applications.

Key Cooling Tower Companies

A number of leading companies are driving innovation and competition in the cooling tower market. These companies are enhancing their product offerings, expanding into new markets, and focusing on technological advancements to meet the growing demand for efficient cooling solutions. Some of the key players in the cooling tower industry include:

• Babcock & Wilcox Enterprises, Inc.

• Baltimore Aircoil Company

• Cenk Endüstri Tesisleri Imalat Ve Taahhüt A.Ş.

• Cooling Tower Systems, Inc.

• Delta Cooling Towers Inc.

• Engie Refrigeration GmbH

• EVAPCO, Inc.

• S.A. Hamon

• Johnson Controls International Plc.

• Kelvion Holdings GmbH

• Liang Chi Industry Co. Ltd.

• Mesan Group

• Paharpur Cooling Towers Ltd.

• SPX Corporation

• Torraval Cooling S.L.

Order a free sample PDF of the Cooling Tower Market Intelligence Study, published by Grand View Research.

[naveenkumarsin32]

India import export data | Global import export data provider

Grow your import-export business from India with powerful global market intelligence tools! Access verified India import export data reports to uncover new opportunities in the international market. In 2023, India imported over 6.2 trillion rupees in electronics. With records from over 200+ countries, you can connect with trusted buyers and suppliers worldwide. Get detailed insights by HS code, product, price, quantity, buyer, supplier, country, and port name. https://eximtradedata.com/india-import-export-data

More information about Top 5 Crude oil importers in India 2024  : https://globalimportexportdataprovider.blogspot.com/2024/10/top-5-crude-oil-importers-in-india-2024.html

[woodwayenergy]

Innovative Pipeline Energy Solutions: Houston's Role in the Future of Energy🌟

Houston, Texas, often hailed as the "Energy Capital of the World," has long been a key player in the oil and gas industry. However, as the global energy landscape undergoes a significant transformation towards sustainability, Houston is stepping up to lead the charge with innovative pipeline energy solutions. This article explores how Houston is embracing cutting-edge technologies, sustainable practices, and collaborative efforts to shape the future of energy. 🌍

The Significance of Pipeline Infrastructure

Pipelines are the backbone of the energy sector, facilitating the safe and efficient transportation of crude oil, natural gas, and refined products. Houston boasts one of the most extensive pipeline networks in the world, essential for meeting both national and global energy demands. As energy consumption patterns change, the city's pipeline infrastructure must evolve to accommodate new energy sources and technologies.

Economic Impact

The energy sector is a cornerstone of Houston's economy, contributing billions of dollars and creating thousands of jobs. The city's extensive pipeline infrastructure supports this economic engine, ensuring the continuous flow of energy resources. However, as public interest in renewable energy grows, there is increasing pressure on Houston's energy companies to adapt their pipeline systems to meet new expectations. 💼

Embracing Innovative Technologies

1. Smart Pipelines

One of the most exciting developments in pipeline energy solutions is the implementation of smart technologies. Smart pipelines equipped with sensors and monitoring systems allow for real-time data collection on flow rates, pressure, and temperature. This technology enables companies to identify potential issues before they escalate, enhancing operational efficiency and safety. You can also click over here to get more information about energy pipeline solution services.

For instance, Williams Companies has integrated smart technologies into their pipeline management systems. By using data analytics, they can optimize flow and reduce the risk of leaks or ruptures. This proactive approach not only ensures safety but also enhances efficiency, ultimately leading to cost savings. 📊

2. Drones for Inspection and Monitoring

Drones are revolutionizing the way pipeline inspections are conducted. With the ability to cover large areas quickly and capture high-resolution imagery, drones provide a more efficient and safer means of monitoring pipeline conditions. This technology allows for real-time assessments of pipeline integrity without the need for extensive ground inspections.

Apache Corporation is one of the companies utilizing drone technology to enhance their pipeline monitoring capabilities. By employing drones, they can identify potential issues rapidly and take corrective actions before they become significant problems. 🛩️

Sustainability Initiatives

3. Reducing Environmental Impact

As concerns about climate change and environmental sustainability rise, energy companies in Houston are taking steps to minimize their ecological footprint. This includes investing in advanced technologies that enhance the efficiency of pipeline operations while reducing emissions.

Occidental Petroleum has committed to lowering its carbon emissions and improving sustainability practices across its operations. This includes implementing more efficient pumping systems and investing in renewable energy projects. By prioritizing sustainability, companies can not only meet regulatory requirements but also respond to growing public demand for environmentally responsible practices. 🌱

4. Advanced Leak Detection Systems

Preventing leaks is critical to maintaining safety and minimizing environmental risks. Innovative leak detection systems utilizing fiber optics and acoustic sensors are becoming increasingly common in Houston's pipeline infrastructure. These systems allow for rapid detection of leaks, enabling prompt responses and reducing the potential for environmental damage.

Magellan Midstream Partners has invested in advanced leak detection technologies that monitor pipeline conditions continuously. By ensuring early detection of leaks, they can minimize the impact on local ecosystems and ensure compliance with safety regulations. 🚨

The Shift Towards Renewable Energy

5. Integrating Renewable Energy Sources

As the world moves towards cleaner energy, Houston is embracing the integration of renewable sources into its pipeline systems. This includes exploring ways to transport hydrogen, biofuels, and other alternative energy sources through existing infrastructure.

TC Energy is at the forefront of this transition, developing projects that allow for the transportation of hydrogen alongside traditional fuels. By repurposing existing pipelines, they can minimize costs and accelerate the adoption of cleaner energy solutions. This shift not only supports sustainability but also positions Houston as a leader in the renewable energy sector. 🌞

6. Collaboration and Partnerships

To navigate the complexities of transitioning to renewable energy, collaboration between industry stakeholders is essential. Houston's energy companies are increasingly forming partnerships with research institutions, technology providers, and governmental agencies to drive innovation and foster sustainable practices.

Shell has engaged in partnerships with local universities and startups to explore new technologies for pipeline energy solutions. These collaborations not only accelerate innovation but also foster a culture of sustainability within the industry. 🤝

Regulatory Challenges and Opportunities

While Houston's pipeline energy solutions are evolving, they must also contend with a complex regulatory landscape. Compliance with safety and environmental regulations is essential for maintaining public trust and ensuring the long-term viability of pipeline operations.

7. Navigating Regulatory Frameworks

The regulatory environment for pipelines is constantly changing, driven by increasing public concern over safety and environmental issues. Companies must stay ahead of regulatory changes to ensure compliance while continuing to innovate. This requires proactive engagement with regulatory bodies and a commitment to transparency.

Enbridge has taken a proactive approach by engaging with local communities and regulatory agencies to ensure their pipeline operations meet or exceed current standards. By fostering open dialogue, they can address concerns and build trust, which is crucial for the success of their projects. 📜

Looking Ahead: The Future of Energy in Houston

8. A Vision for a Sustainable Energy Future

As Houston continues to evolve, its commitment to innovative pipeline energy solutions will play a pivotal role in shaping the future of energy. By investing in advanced technologies, sustainability initiatives, and collaborative efforts, Houston can lead the transition to a cleaner, more efficient energy landscape.

The future of Houston's energy sector lies in its ability to adapt and embrace change. By prioritizing innovation and sustainability, Houston can maintain its status as a global energy leader while contributing to a more sustainable world. 🌈

Conclusion

Houston's role in the future of energy is marked by its commitment to innovative pipeline solutions that embrace both efficiency and sustainability. As the city adapts to the changing energy landscape, it is poised to lead the way in the transition to cleaner energy sources.

Through the integration of smart technologies, advanced monitoring systems, and collaborative partnerships, Houston is not only addressing current energy demands but also paving the way for a more sustainable future. As the energy capital evolves, its innovative spirit will be essential in shaping the future of energy for generations to come. 🌟

[exportimportdata3]

Discover the latest trends in India's crude oil imports, consumption, and production. Explore detailed data on key importers, HS codes, and top global suppliers. Learn how India's growing energy demand is shaping its reliance on crude oil and what the future holds for the country's energy needs.

[credenceresearchdotblog]

The Oilfield Services Market is projected to grow from USD 134007 million in 2024 to an estimated USD 169756.05 million by 2032, with a compound annual growth rate (CAGR) of 3% from 2024 to 2032.The oilfield services (OFS) market plays a critical role in the global oil and gas industry. It encompasses a wide range of services required during various phases of exploration, drilling, production, and maintenance of oil and gas wells. The market's dynamics are driven by fluctuations in crude oil prices, technological advancements, and increasing demand for energy. As the world transitions toward a balanced energy mix, the oilfield services market continues to evolve, integrating new technologies and responding to the shifting needs of the oil and gas industry. This article explores the current trends, growth drivers, challenges, and future outlook for the oilfield services market.

Browse the full report https://www.credenceresearch.com/report/oilfield-services-market

Market Overview and Segmentation

Oilfield services are integral to the oil and gas value chain. They include services such as well drilling, formation evaluation, well completion, production optimization, and well intervention. The OFS market is typically segmented into three categories: 1. Drilling Services: Encompassing all services related to well drilling, such as rig operation, directional drilling, and logging. 2. Completion Services: These services ensure the well is ready for production, involving tasks such as casing, cementing, and hydraulic fracturing. 3. Production and Maintenance Services: Focused on optimizing well performance and extending its lifespan. This includes pressure pumping, enhanced oil recovery (EOR) techniques, and well intervention services.

The oilfield services market is directly influenced by the exploration and production (E&P) activities of oil and gas companies. Therefore, its performance closely correlates with oil price trends, geopolitical stability, and regulatory policies. As oil prices rise, investments in E&P projects increase, leading to higher demand for oilfield services. Conversely, a downturn in oil prices can result in reduced investments, slowing the OFS market.

Key Market Trends

1. Technological Advancements: One of the most significant trends shaping the oilfield services market is the adoption of advanced technologies. Innovations such as artificial intelligence (AI), big data analytics, automation, and Internet of Things (IoT) are transforming how oil and gas companies manage their operations. AI-powered predictive maintenance tools, for instance, help companies reduce equipment downtime and improve operational efficiency. Additionally, the advent of digital oilfields—integrating sensors, data analytics, and automated workflows—has enhanced productivity and decision-making capabilities.

2. Shift Toward Unconventional Resources: The growing focus on unconventional oil and gas resources, such as shale gas and tight oil, has opened new avenues for the OFS market. Horizontal drilling and hydraulic fracturing (fracking) have become common in unconventional resource extraction. As a result, demand for services related to well stimulation and reservoir evaluation has surged. North America, particularly the United States, has been at the forefront of this shift due to its large shale reserves, which has made it one of the most lucrative markets for oilfield services.

3. Energy Transition and Sustainability: As the world moves toward a low-carbon future, oil and gas companies are under increasing pressure to adopt sustainable practices. The oilfield services sector is responding by offering solutions that reduce environmental impact. These include greener fracturing fluids, carbon capture and storage (CCS) technologies, and waste management services. Moreover, the rise of renewable energy has prompted oilfield services companies to diversify their offerings and venture into supporting offshore wind, geothermal, and hydrogen projects.

Growth Drivers

1. Rising Energy Demand: The global demand for energy, driven by population growth and industrialization, is one of the primary factors driving the oilfield services market. Despite the push for renewables, fossil fuels still account for a significant portion of global energy consumption, and oilfield services are essential to ensuring continued production.

2. Recovery in Oil Prices: After experiencing a downturn during the COVID-19 pandemic, oil prices have gradually recovered, encouraging E&P companies to resume operations. This recovery has revitalized drilling and production activities, subsequently driving the demand for oilfield services.

3. Increasing Investments in E&P: With global oil demand expected to grow in the near term, many oil and gas companies are increasing investments in exploration and production activities. This is particularly true for deepwater and ultra-deepwater projects, which require sophisticated oilfield services, including drilling, completion, and subsea intervention.

Challenges

Despite the positive outlook, the oilfield services market faces several challenges. One of the most pressing is the volatility of crude oil prices, which can significantly impact the profitability of E&P activities and, consequently, the demand for oilfield services. Additionally, stringent environmental regulations and the increasing emphasis on reducing greenhouse gas emissions present hurdles for the industry.

Another challenge is the ongoing talent shortage. The oil and gas sector is facing a generational shift, with many experienced workers retiring and fewer young professionals entering the industry. This has led to a skills gap, which could hinder the efficient delivery of oilfield services.

Future Outlook

The oilfield services market is poised for growth in the coming years, driven by rising energy demand, the recovery of oil prices, and the need for technological advancements in the industry. However, the sector must also adapt to the evolving energy landscape, where sustainability and digital transformation will play a more prominent role.

Companies in the oilfield services market will need to embrace innovation and diversify their portfolios to stay competitive. By offering sustainable solutions and leveraging cutting-edge technologies, the oilfield services sector can continue to play a vital role in the global energy mix while meeting the demands of a rapidly changing world.

Key Player Analysis:

Baker Hughes Company

HALLIBURTON

SLB

Weatherford

Superior Energy Services

China Oilfield Services Limited

ARCHER OILFIELD ENGINEERS

Expro Group

TechnipFMC plc

Segmentation:

By Type

Equipment Rental

Field Operation

Analytical Services

By Service

Geophysical

Drilling

Completion & Workover

Production

Processing & Separation

By Application

Onshore

Offshore

By Region

North America

US

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Browse the full report https://www.credenceresearch.com/report/oilfield-services-market

Contact:

Credence Research

Please contact us at +91 6232 49 3207

Email: sales@credenceresearch.com

Website: www.credenceresearch.com

[seairexim]

Import of Oil in India: A 2024 Overview

India, one of the fastest-growing economies globally, is heavily reliant on imported oil to meet its energy needs. As of 2024, oil imports play a crucial role in India’s economic stability, given the country's limited domestic production and its burgeoning industrial and transportation sectors. The demand for crude oil continues to increase, making India one of the largest oil importers in the world.

In this article, we will dive into the key trends shaping import of oil in India in 2024, examine the major oil importers in India, analyze the oil importers by country, and explore the latest Indian oil imports data.

Current State of Oil Imports in India (2024)

India is the third-largest oil importer globally, accounting for around 10% of total global oil imports. This reliance is driven by India’s limited domestic oil reserves, which only meet a fraction of the country’s energy needs. The demand for oil in India continues to rise due to rapid industrialization, population growth, and expanding transportation networks.

India's oil imports are crucial to fueling its key sectors such as transportation, power generation, and manufacturing. According to the latest Indian oil imports data, the country imports approximately 85% of its total crude oil consumption. The ongoing geopolitical tensions and global supply chain disruptions in recent years have only increased India's focus on diversifying its oil sources and securing stable supply routes.

Major Oil Importers in India

In 2024, several major oil companies, refineries, and private-sector players are involved in importing oil into India. Among the top oil importers in India are:

Indian Oil Corporation Limited (IOCL) – As the largest public sector oil company in India, IOCL is a major player in the importation of crude oil, processing over 1.6 million barrels per day.

Bharat Petroleum Corporation Limited (BPCL) – A government-owned entity that plays a critical role in meeting India's energy demands through oil imports.

Hindustan Petroleum Corporation Limited (HPCL) – Another key player, HPCL, imports a significant amount of crude oil to meet the needs of its refineries and distribution network.

Reliance Industries Limited – Reliance, a major private-sector company, operates the largest refining complex in the world in Jamnagar, Gujarat, and is one of the largest private oil importers in India.

Nayara Energy – Formerly known as Essar Oil, Nayara Energy imports oil to fuel its refining and distribution operations across the country.

These companies primarily rely on crude oil imports to keep their refineries running and to meet the country’s high demand for petroleum products.

Key Oil Importers by Country

India sources its crude oil from a variety of countries, with Middle Eastern nations being the dominant suppliers. The following countries are among the leading oil importers by country to India in 2024:

Saudi Arabia – Saudi Arabia continues to be one of the largest suppliers of crude oil to India. As part of OPEC, it plays a critical role in India’s energy security by providing a steady flow of oil. In 2024, Saudi Arabia supplies over 17% of India’s total oil imports.

Iraq – Iraq remains the top oil exporter to India, contributing nearly 22% of India's total crude oil imports. Despite geopolitical instability in the region, Iraq has maintained stable oil production and export levels to meet India’s growing demand.

United Arab Emirates (UAE) – The UAE is another critical supplier for India, accounting for around 10% of the country's oil imports. The relationship between India and the UAE is strong, with several ongoing projects aimed at further deepening trade and energy ties.

United States – In recent years, the U.S. has emerged as a major oil supplier to India, with its exports of shale oil increasing. In 2024, the U.S. contributes around 8% to India’s oil imports, as India seeks to diversify its suppliers and reduce dependence on the Middle East.

Russia – With the geopolitical realignments post-Ukraine war and Western sanctions, Russia has been exporting discounted oil to countries like India. By 2024, Russian oil accounts for nearly 15% of India’s imports, making it one of the fastest-growing suppliers to the Indian market.

Other notable oil exporters to India include Kuwait, Nigeria, and Brazil. The diversification of suppliers is a crucial part of India’s energy strategy, as it reduces reliance on any single region and ensures the stability of imports.

Indian Oil Imports Data: Key Insights for 2024

Volume of Imports

As of 2024, India imports approximately 4.5 million barrels of crude oil per day. This figure represents a slight increase from previous years, reflecting India’s growing energy needs. With limited domestic production, the country has no choice but to rely heavily on imports to meet over 85% of its crude oil consumption.

Import Expenditure

India's expenditure on oil imports is expected to reach nearly $140 billion in 2024. This increase in expenditure is partly due to rising global oil prices and higher import volumes. The Indian government continues to monitor global price fluctuations and the potential impact on inflation and the country’s fiscal balance.

Strategic Petroleum Reserves

India has been expanding its strategic petroleum reserves (SPR) to safeguard against supply disruptions and price volatility. In 2024, the country has reserves equivalent to around 12 days of oil consumption. The government has also announced plans to further increase these reserves in collaboration with other key suppliers like the UAE and the U.S.

Shifts in Import Patterns

India’s oil import patterns have seen a shift in 2024, with an increasing focus on Russia, the U.S., and African nations like Nigeria and Angola. The India-Russia oil trade, in particular, has grown substantially since 2022, with Russia providing discounted crude in light of Western sanctions. This shift has allowed India to hedge against price volatility in the Middle East.

Challenges in India's Oil Import Landscape

Despite the growing diversification of suppliers, India's oil import landscape in 2024 faces several challenges:

Geopolitical Instability – Ongoing conflicts in oil-producing regions, particularly in the Middle East and Russia, continue to pose risks to India’s energy security.

Price Volatility – Fluctuations in global oil prices, driven by factors such as OPEC production cuts, inflation, and geopolitical tensions, have made it difficult for India to stabilize import costs.

Environmental Concerns – The Indian government has made a commitment to shift toward cleaner energy sources. However, the country’s heavy reliance on oil imports may slow down the transition to renewable energy, even as it works to reduce carbon emissions in the coming decades.

Conclusion

As India moves through 2024, its dependency on oil imports remains a cornerstone of its energy policy. With major oil importers in India like IOCL, Reliance, and BPCL leading the charge, the country continues to source oil from key players in the Middle East, the U.S., and Russia. The latest data on Indian oil imports reflect the country’s need to secure diversified oil supplies to ensure economic stability, despite challenges such as price volatility and geopolitical risks.

Frequently Asked Questions

1. What is the current status of oil imports in India in 2024? In 2024, India remains one of the largest oil importers globally, importing approximately 4.5 million barrels of crude oil per day. This reliance on imports accounts for about 85% of the country’s total crude oil consumption, reflecting the increasing demand driven by industrial growth and a rising population.

2. Who are the major oil importers in India? The major oil importers in India include Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Reliance Industries Limited, and Nayara Energy. These companies play a critical role in meeting India’s oil demands through their extensive import operations.

3. Which countries are the top oil importers to India? As of 2024, the leading oil importers by country to India are Iraq, Saudi Arabia, the United Arab Emirates (UAE), the United States, and Russia. Iraq holds the largest share, contributing around 22% of India’s total crude oil imports, followed by Saudi Arabia with 17%.

4. How does Indian oil imports data reflect the country’s energy needs? The Indian oil imports data for 2024 indicate that the country is projected to spend nearly $140 billion on oil imports. This significant expenditure underscores India's reliance on external oil sources to fuel its growing economy and meet energy requirements.

5. What challenges does India face regarding its oil import strategy? India’s oil import strategy in 2024 is challenged by geopolitical instability in oil-producing regions, price volatility in global oil markets, and the need to transition to cleaner energy sources. These factors can affect the stability and cost of oil imports, impacting India’s overall energy security.

[anamseair]

Discover India's growing energy demand and dependence on crude oil imports, with insights into crude oil import data, key suppliers, top importers, HS codes, and trends shaping the future of India's oil industry.

[news365timesindia]

[ad_1] Paromita Das GG News Bureau New Delhi, 15th October. In the wake of the ongoing Ukraine conflict, Bharat has maintained a strategic position in the global supply chain, continuing to export critical technologies and goods to Russia despite mounting pressure and sanctions from Western countries, including the United States. Over two years since Moscow’s invasion of Ukraine, Bharat’s defiance of these sanctions and its steadfast engagement with Russia have drawn significant attention and, at times, criticism from the international community. Despite this, Bharat has made it clear that its actions are driven by national interest, standing firm in the face of external objections. Bharat’s Supply of Critical Technologies to Russia: A Growing Concern A recent report reveals that Bharat has surged to become the second-largest supplier of restricted critical technologies to Russia, trailing only China. Bharatiya exports of sensitive items such as microchips, electronic circuits, and machine tools to Russia have risen sharply in recent months. The figures tell the story: exports of restricted items hit $60 million in both April and May of this year, about double the earlier months’ figures. By July, these exports leaped to $95 million. This data underscores the significant role Bharat is playing in circumventing the West’s efforts to cripple Russia’s war machine. According to the report, Bharat now accounts for almost a fifth of the sensitive technology that reaches Russia, presenting a formidable challenge to the United States and its European allies, who are trying to curtail Russia’s capacity to wage war. These figures illustrate the complexities the West faces in enforcing sanctions against Russia, particularly when key nations like Bharat continue to uphold robust trade relations with Moscow. Energy Ties: Bharat’s Dependence on Russian Oil Beyond technology, Bharat’s import of crude oil from Russia has also been a point of contention. In the wake of sanctions aimed at limiting Russia’s oil sales, Bharat has emerged as one of the top buyers of Russian crude, taking advantage of discounts that have helped ease the country’s energy supply pressures. This move, while beneficial for Bharat’s energy needs and economic stability, has drawn ire from Western nations that see it as undermining their efforts to economically isolate Russia. Despite repeated objections from the West, Bharat’s stance has remained unwavering. The Government of Bharat has consistently communicated that its decisions are driven by national interest. Foreign Minister S. Jaishankar has openly addressed international concerns, emphasizing that Bharat’s primary responsibility is to ensure its people have access to affordable energy and essential goods. Bharat’s diplomacy has been rooted in pragmatism, advocating for an approach that allows it to maintain sovereign decision-making in its foreign trade policies while navigating the geopolitical intricacies of a multipolar world. Geopolitical Implications: A Delicate Balancing Act Bharat’s actions in continuing to supply restricted technologies to Russia and buying Russian oil have exposed the delicate balancing act it must perform on the global stage. The situation puts Bharat in a complex diplomatic position. On the one hand, Prime Minister Narendra Modi’s government has successfully cultivated strong relationships with Western countries, including the United States and the European Union, particularly in areas such as defense, trade, and technology cooperation. On the other hand, Bharat’s long-standing ties with Russia, dating back to the Cold War, remain strong, and Russia continues to be a key defense and energy partner for Bharat. The conflict in Ukraine has strained these relationships, as Western allies seek to align global partners in isolating Russia. However, Bharat’s refusal to align with this agenda fully, driven by pragmatic considerations, complicates Western efforts to apply uniform pressure on Moscow.

Washington and Brussels are aware of the importance of nurturing their partnership with Bharat, given the country’s rising geopolitical and economic clout. This has led to a cautious approach in their dealings with Bharat, refraining from overtly criticizing Bharat’s stance while continuing efforts to influence its policy. Bharat’s Strategic Interests Bharat’s actions can be understood within the framework of its broader strategic interests. First and foremost, Bharat prioritizes its national security, which is closely tied to its energy security. With its growing economy and massive population, Bharat needs to secure reliable and affordable sources of energy. Russian oil has provided Bharat with an attractive option, particularly as other global suppliers have faced disruptions or price surges. For Bharat, cutting off this crucial supply could severely impact its economic stability. Furthermore, Bharat views its relationship with Russia as a key aspect of its defense strategy. Russia remains one of Bharat’s largest defense suppliers, with a substantial portion of Bharat’s military hardware coming from Moscow. The long-standing defense cooperation between the two nations is a cornerstone of Bharat’s strategic autonomy, allowing it to avoid overdependence on any single global power for its defense needs. At the same time, Bharat is cognizant of the growing importance of its relationship with the United States, especially in the context of the Indo-Pacific strategy aimed at counterbalancing China’s rising influence. The US and its allies are eager to draw Bharat closer into their fold, both as a trading partner and as a key player in the region’s security architecture. This creates a dynamic where Bharat must carefully navigate its relationships with both Moscow and Washington without alienating either party. Bharat’s Diplomatic Stance: Pragmatism Over Ideology Bharat’s foreign policy in recent years has been characterized by a pragmatic approach that prioritizes national interests over ideological alignments. This pragmatism has allowed Bharat to maintain good relations with a wide range of global powers, even when their interests conflict with each other. Bharat has pursued a policy of multi-alignment, engaging with countries on a case-by-case basis depending on how each relationship can serve its own strategic objectives. In the context of the Ukraine war, Bharat has avoided taking a firm stance against Russia, refraining from participating in Western sanctions while also expressing concern over the humanitarian impact of the conflict. Bharat’s diplomatic efforts have focused on calling for dialogue and peaceful resolution, without directly condemning Russia’s actions. This neutral stance has allowed Bharat to preserve its strategic partnership with Moscow while continuing to engage meaningfully with Western nations. Conclusion Bharat’s continued supply of critical technologies and goods to Russia, coupled with its increased imports of Russian crude oil, reflect a calculated decision by the Modi government to put national interest above external pressures. While Bharat’s actions have drawn criticism from the West, they highlight the country’s determination to maintain strategic autonomy in its foreign policy. Bharat’s position is a realistic and pragmatic one, grounded in the need to secure its economic and energy interests in a volatile global environment. By maintaining trade ties with Russia, Bharat has been able to shield itself from the economic fallout of the Ukraine conflict, ensuring a stable supply of energy and essential goods. This approach also aligns with Bharat’s broader strategy of multi-alignment, allowing it to engage with all major global powers without being drawn into any one geopolitical camp. However, the challenges Bharat faces are significant. Its balancing act between the West and Russia will require delicate diplomacy in the coming years, as the geopolitical landscape continues to evolve. As long as

Bharat can navigate these complexities while keeping its national interests at the forefront, it is likely to continue playing a critical role in shaping the future of global politics.   [ad_2] Source link

[news365times]

[ad_1] Paromita Das GG News Bureau New Delhi, 15th October. In the wake of the ongoing Ukraine conflict, Bharat has maintained a strategic position in the global supply chain, continuing to export critical technologies and goods to Russia despite mounting pressure and sanctions from Western countries, including the United States. Over two years since Moscow’s invasion of Ukraine, Bharat’s defiance of these sanctions and its steadfast engagement with Russia have drawn significant attention and, at times, criticism from the international community. Despite this, Bharat has made it clear that its actions are driven by national interest, standing firm in the face of external objections. Bharat’s Supply of Critical Technologies to Russia: A Growing Concern A recent report reveals that Bharat has surged to become the second-largest supplier of restricted critical technologies to Russia, trailing only China. Bharatiya exports of sensitive items such as microchips, electronic circuits, and machine tools to Russia have risen sharply in recent months. The figures tell the story: exports of restricted items hit $60 million in both April and May of this year, about double the earlier months’ figures. By July, these exports leaped to $95 million. This data underscores the significant role Bharat is playing in circumventing the West’s efforts to cripple Russia’s war machine. According to the report, Bharat now accounts for almost a fifth of the sensitive technology that reaches Russia, presenting a formidable challenge to the United States and its European allies, who are trying to curtail Russia’s capacity to wage war. These figures illustrate the complexities the West faces in enforcing sanctions against Russia, particularly when key nations like Bharat continue to uphold robust trade relations with Moscow. Energy Ties: Bharat’s Dependence on Russian Oil Beyond technology, Bharat’s import of crude oil from Russia has also been a point of contention. In the wake of sanctions aimed at limiting Russia’s oil sales, Bharat has emerged as one of the top buyers of Russian crude, taking advantage of discounts that have helped ease the country’s energy supply pressures. This move, while beneficial for Bharat’s energy needs and economic stability, has drawn ire from Western nations that see it as undermining their efforts to economically isolate Russia. Despite repeated objections from the West, Bharat’s stance has remained unwavering. The Government of Bharat has consistently communicated that its decisions are driven by national interest. Foreign Minister S. Jaishankar has openly addressed international concerns, emphasizing that Bharat’s primary responsibility is to ensure its people have access to affordable energy and essential goods. Bharat’s diplomacy has been rooted in pragmatism, advocating for an approach that allows it to maintain sovereign decision-making in its foreign trade policies while navigating the geopolitical intricacies of a multipolar world. Geopolitical Implications: A Delicate Balancing Act Bharat’s actions in continuing to supply restricted technologies to Russia and buying Russian oil have exposed the delicate balancing act it must perform on the global stage. The situation puts Bharat in a complex diplomatic position. On the one hand, Prime Minister Narendra Modi’s government has successfully cultivated strong relationships with Western countries, including the United States and the European Union, particularly in areas such as defense, trade, and technology cooperation. On the other hand, Bharat’s long-standing ties with Russia, dating back to the Cold War, remain strong, and Russia continues to be a key defense and energy partner for Bharat. The conflict in Ukraine has strained these relationships, as Western allies seek to align global partners in isolating Russia. However, Bharat’s refusal to align with this agenda fully, driven by pragmatic considerations, complicates Western efforts to apply uniform pressure on Moscow.

Washington and Brussels are aware of the importance of nurturing their partnership with Bharat, given the country’s rising geopolitical and economic clout. This has led to a cautious approach in their dealings with Bharat, refraining from overtly criticizing Bharat’s stance while continuing efforts to influence its policy. Bharat’s Strategic Interests Bharat’s actions can be understood within the framework of its broader strategic interests. First and foremost, Bharat prioritizes its national security, which is closely tied to its energy security. With its growing economy and massive population, Bharat needs to secure reliable and affordable sources of energy. Russian oil has provided Bharat with an attractive option, particularly as other global suppliers have faced disruptions or price surges. For Bharat, cutting off this crucial supply could severely impact its economic stability. Furthermore, Bharat views its relationship with Russia as a key aspect of its defense strategy. Russia remains one of Bharat’s largest defense suppliers, with a substantial portion of Bharat’s military hardware coming from Moscow. The long-standing defense cooperation between the two nations is a cornerstone of Bharat’s strategic autonomy, allowing it to avoid overdependence on any single global power for its defense needs. At the same time, Bharat is cognizant of the growing importance of its relationship with the United States, especially in the context of the Indo-Pacific strategy aimed at counterbalancing China’s rising influence. The US and its allies are eager to draw Bharat closer into their fold, both as a trading partner and as a key player in the region’s security architecture. This creates a dynamic where Bharat must carefully navigate its relationships with both Moscow and Washington without alienating either party. Bharat’s Diplomatic Stance: Pragmatism Over Ideology Bharat’s foreign policy in recent years has been characterized by a pragmatic approach that prioritizes national interests over ideological alignments. This pragmatism has allowed Bharat to maintain good relations with a wide range of global powers, even when their interests conflict with each other. Bharat has pursued a policy of multi-alignment, engaging with countries on a case-by-case basis depending on how each relationship can serve its own strategic objectives. In the context of the Ukraine war, Bharat has avoided taking a firm stance against Russia, refraining from participating in Western sanctions while also expressing concern over the humanitarian impact of the conflict. Bharat’s diplomatic efforts have focused on calling for dialogue and peaceful resolution, without directly condemning Russia’s actions. This neutral stance has allowed Bharat to preserve its strategic partnership with Moscow while continuing to engage meaningfully with Western nations. Conclusion Bharat’s continued supply of critical technologies and goods to Russia, coupled with its increased imports of Russian crude oil, reflect a calculated decision by the Modi government to put national interest above external pressures. While Bharat’s actions have drawn criticism from the West, they highlight the country’s determination to maintain strategic autonomy in its foreign policy. Bharat’s position is a realistic and pragmatic one, grounded in the need to secure its economic and energy interests in a volatile global environment. By maintaining trade ties with Russia, Bharat has been able to shield itself from the economic fallout of the Ukraine conflict, ensuring a stable supply of energy and essential goods. This approach also aligns with Bharat’s broader strategy of multi-alignment, allowing it to engage with all major global powers without being drawn into any one geopolitical camp. However, the challenges Bharat faces are significant. Its balancing act between the West and Russia will require delicate diplomacy in the coming years, as the geopolitical landscape continues to evolve. As long as

Bharat can navigate these complexities while keeping its national interests at the forefront, it is likely to continue playing a critical role in shaping the future of global politics.   [ad_2] Source link

[arjasrikanth]

According to OPEC, India's oil demand is projected to rise to *5.57 million barrels* per day (bpd) in 2024, a 4.19% increase from 2023.

By 2050, consumption could soar to *13.3 million bpd, positioning India* as the world's largest driver of oil demand growth by 2030.

Early 2024 data shows a 4.8% year-on-year rise in oil consumption, with *Russian crude making up 40%* of total imports.

This shift indicates a consumer-driven demand, marking a significant departure from traditional industrial consumption patterns and underscoring *India’s growing influence on global oil markets.*

To navigate this transition, India must address *policy bottlenecks and operational inefficiencies* , seize opportunities in oil exploration, and strengthen its *energy security through strategic reforms and investments.*

http://arjasrikanth.in/2024/10/15/buried-treasure-unleashing-indias-oil-potential-amidst-the-regulatory-quagmire/

[chemanalystdata]

Propylene Prices Trend | Pricing | News | Database | Chart

 Propylene is a vital feedstock in the petrochemical industry, playing a pivotal role in the production of various derivatives such as polypropylene, acrylonitrile, and propylene oxide. The dynamics of propylene prices are influenced by a combination of factors including supply-demand imbalances, crude oil fluctuations, and downstream market trends. Globally, propylene pricing is closely tied to the cost of crude oil and natural gas since these are the primary raw materials used in its production. Changes in crude oil prices directly affect naphtha costs, a key component in steam cracking for propylene extraction. When crude oil prices rise, naphtha becomes more expensive, leading to an uptick in propylene prices. Conversely, a drop in crude oil prices typically reduces naphtha costs, subsequently bringing down propylene prices.

The propylene market is also significantly affected by the availability and operations of production facilities. Steam crackers, fluid catalytic crackers (FCC), and on-purpose production methods like propane dehydrogenation (PDH) are the main sources of propylene. Any disruptions in these facilities, such as maintenance shutdowns or unplanned outages, can cause immediate supply constraints, resulting in price spikes. Additionally, the shift towards lighter feedstocks, like ethane, in steam crackers has reduced propylene yield, creating further pressure on its supply and subsequently its pricing. On the other hand, the emergence of propane dehydrogenation as a growing production method has somewhat mitigated these challenges, as it offers a more targeted approach to meeting the demand for propylene.

Get Real Time Prices for Propylene : https://www.chemanalyst.com/Pricing-data/propylene-51

Global economic conditions are another critical factor influencing propylene prices. During periods of economic expansion, industrial activity and manufacturing ramp up, driving higher demand for propylene derivatives, particularly polypropylene, which is widely used in packaging, automotive components, and consumer goods. This increased demand leads to upward pressure on propylene prices. In contrast, during economic downturns, reduced industrial activity tends to lower demand, often resulting in softer propylene prices. Additionally, regional variations in economic growth and industrial activity create disparities in propylene pricing across different markets. For instance, in Asia, where manufacturing and industrial activities are robust, propylene prices tend to be higher compared to regions with relatively lower industrial demand.

Trade flows and geopolitical factors also play a crucial role in shaping propylene prices. As a globally traded commodity, propylene's prices are influenced by import and export dynamics. Countries with surplus production often export to regions with deficits, with transportation costs, tariffs, and regional supply-demand balances impacting pricing. Geopolitical tensions, such as trade disputes or conflicts in oil-producing regions, can lead to uncertainty in raw material supply chains, indirectly affecting propylene availability and pricing. Moreover, environmental regulations and sustainability initiatives are becoming increasingly influential. As the petrochemical industry faces pressure to reduce emissions and adopt greener practices, costs associated with compliance can impact the overall pricing of propylene and its derivatives.

Seasonal demand patterns also have a bearing on propylene pricing. Certain derivatives of propylene, like polypropylene, experience heightened demand during specific seasons, such as the festive period when packaging requirements increase. This seasonal demand surge often translates to temporary price increases. Conversely, during periods of low demand, inventory buildup can lead to a softening of prices. The interplay of these cyclical patterns adds an additional layer of complexity to the propylene market, making it vital for industry stakeholders to monitor trends closely.

Advancements in production technologies and shifts in feedstock preferences are additional factors that influence the cost dynamics of propylene. Innovations aimed at improving production efficiency or utilizing alternative feedstocks can impact supply costs. For example, the increasing use of propane dehydrogenation, particularly in regions like the United States where shale gas has led to abundant propane supply, has affected global pricing trends. These technological and feedstock changes often alter the balance between supply and demand, further influencing propylene price fluctuations.

In recent years, the rise in sustainability initiatives and circular economy principles has added a new dimension to the propylene market. Recycled and bio-based alternatives are gaining traction as the industry moves toward reducing its carbon footprint. While these alternatives are still in the early stages of market penetration, their development could influence long-term pricing trends. However, bio-based production methods typically come at a higher cost, which may result in premium pricing compared to conventional propylene, at least during the initial adoption phase.

Market analysts often monitor propylene prices as a barometer of broader economic health and industrial activity. Fluctuations in its pricing can signal changes in manufacturing output and consumer demand patterns, reflecting the interconnected nature of global markets. For businesses dependent on propylene, price volatility presents both challenges and opportunities. Effective procurement strategies, such as hedging and long-term contracts, are often employed to manage price risk and ensure supply stability. Such strategies are critical for companies to remain competitive in markets where cost efficiency is paramount.

Looking ahead, the propylene market is expected to experience further evolution as global energy markets transition towards greener alternatives and circular economy principles gain momentum. While traditional production methods will continue to dominate in the short term, investments in sustainable technologies could redefine the cost structure of propylene production. Additionally, geopolitical developments and regional economic growth disparities will remain key determinants of propylene price trends. For stakeholders in the petrochemical industry, maintaining a nuanced understanding of these multifaceted influences is crucial for navigating the complex landscape of propylene pricing.

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[ejesgistnews]

The Nigerian naira has tumbled to an unprecedented low, trading at N1,700 per dollar in the parallel market on October 14, 2024. This marks a 0.29% decline from its previous rate of N1,695/$1 recorded just days earlier, despite a surge in crude oil prices, which have now surpassed $80 per barrel. While the parallel market saw a significant drop, the naira remained relatively stable in the official Investors and Exporters (I&E) window, closing at N1,641.27/$1. However, this still represents a 1.14% depreciation from its earlier rate of N1,622.57/$1. The growing disparity between the official exchange rate and the parallel market continues to expose the pressure on Nigeria’s foreign exchange system. Market Trends The naira has experienced a steep decline throughout 2024, losing over 50% of its value since January, when it traded at N907.11/$1. By October, the currency had crossed the N1,500/$1 threshold. After a temporary recovery in March to N1,303/$1, the currency has been on a consistent downward slide. Key Data Points: Parallel market rate: Naira dropped to N1,700 per dollar on October 14. I&E window: Closed at N1,641.27/$1, marking a 1.15% drop from N1,622.57/$1. Trading volume: Surged to $616.73 million, indicating rising demand for dollars. Driving Factors Despite global oil prices climbing above $80 per barrel, the naira continues to weaken, largely due to a persistent shortage of dollars, inflationary pressures, and reliance on the parallel market. While higher oil prices would typically provide relief for oildependent economies, Nigeria’s foreign exchange system remains under strain. Outlook Though the naira’s breach of N1,700/$1 is concerning, there is hope for a shortterm rebound. Rising oil prices and new economic policies aimed at curbing demand for foreign exchange may help stabilize the currency, with a potential return to the N1,600/$1 range. However, the broader economic environment, including inflation and forex supply, will determine the naira's future trajectory.