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Germany's legislation on oil security
…supply shortages in emergency situations: first, the more general 1975 Energy Security of Supply Act (ESSA), second, the more specific 2012 Petroleum Stockholding Act (PSA) and third the Mineral Oil Data Act (Datenverfügbarkeiten durch das Mineralöldatengesetz). The ESSA provides for a general legal framework aimed at the protection of Germany’s electricity supply (including but not limited to oil supply). The PSA implements the European Union’s Directive 2009/119/EC and lays out a specific legal framework concerning the protection of Germany’s energy supply by stockholding oil and other petroleum products. The Mineral Oil Data Act provides the…
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Case Study: Energy Savings Meter Programme in Germany
…large, more established companies.The total funding envelope during the first period (May 2016 to December 2018) encompassed EUR 62 million, which was spent in its entirety. Funding for the second period, which goes until end of 2020 has been increased to EUR 100 million. Maximum funding per project has been increased from €1 to €2 million. Flagship projects that strengthen the market for energy efficiency financing are also funded with up to € 200,000 at a funding rate of 80%. Impacts The first and pilot phase of this programme was launched by the BMWi (Federal Ministry f...
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Oil Market Report - December 2017
…countries. Highlights Our forecast for global demand growth remains unchanged at 1.5 mb/d in 2017 (or 1.6%) and 1.3 mb/d in 2018 (or 1.3%). Revisions have been made to data for Nigeria, Germany and Iraq. The baseline for oil demand has been raised by roughly 0.2 mb/d.Global oil supply rose 0.2 mb/d in November to 97.8 mb/d, the highest in a year, on the back of rising US production. Output was nonetheless down 1.1 mb/d on a year ago when Russia and Middle East OPEC producers pumped at record rates. Non…
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Oil Market Report - June 2023
…exports, while shipments to Africa, the Middle East and Latin America made up another 12%. Estimated export revenues fell by $1.4 bn to $13.3 bn, down 36% on a year ago, with average crude prices easing from $60/bbl in April to $55/bbl in May.Global refinery throughputs are forecast to increase by 1.8 mb/d in 2023 and 1 mb/d next year when it averages 83.4 mb/d. A further decline in OECD crude runs next year is more than offset by the 1.3 mb/d increase in non-OECD activity. New…
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Oil Market Report - November 2017
…$1-2/bbl in October versus September and pushed higher in early November, buoyed by tensions in the Middle East. Oil product markets weakened relative to crude following the return of US refineries to higher throughput levels.For 4Q17, our refining throughput forecast is revised marginally lower to 80.8 mb/d, but refined product inventories are forecast to build as demand seasonally slows down. Relatively robust refining activity level continues into January and February 2018, with runs forecast to grow 1.1 mb/d y-o-y.Our analysis of global oil balances implies oversupplied crude oil markets in 4Q17 and 1Q18…
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Oil Market Report - May 2017
…cuts. Sour grades continued to trade higher than sweet crudes.In 2Q17, global refining activity slows down seasonally, lower by 370 kb/d from 1Q17, but is set to ramp up by 2.4 mb/d by July-August. The OECD leads the way: in non-OECD areas, maintenance and refinery closures in the Middle East, underperformance in Latin America and flat growth in India are not offset by growth in China and Russia. Highlights Weakness in a number of previously solid countries - India, US, Germany and Turkey - curtailed the 1H17 global demand growth estimate by 115 kb/d. Global demand growth is, however…
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World Energy Outlook 2012
…for energy security, environmental sustainability and economic development. Oil, coal, natural gas, renewables and nuclear power are all covered, together with an update on climate change issues. Global energy demand, production, trade, investment and carbon-dioxide emissions are broken down by region or country, by fuel and by sector. Special strategic analyses cover: what unlocking the purely economic potential for energy efficiency could do, country-by-country and sector-by-sector, for energy markets, the economy and the environment; the Iraqi energy sector; the water-energy nexus, as water resources become increasingly stressed and access more contentious; and measures of progress towards providing universal access to modern energy services…
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Oil Market Report - May 2023
…$88.09/bbl in mid April following the surprise output cuts announced by some OPEC+ members. Prices failed to hold on to the gains, however, as pessimism about global economic growth resurfaced, exacerbated by tightening bank credit and a reversal of technical support in paper markets. At the time of writing, Dated was trading around $76/bbl. Roller coaster ride Oil prices retreated during April and early May as concerns over the health of the global economy and oil demand prospects depressed market sentiment. North Sea Dated plunged by nearly $16/bbl in just two weeks, reversing gains that followed...
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Oil Market Report - September 2018
…of 32.63 mb/d in August. A rebound in Libya, near record Iraqi output and higher volumes from Nigeria and Saudi Arabia outweighed a substantial reduction in Iran and a further fall in Venezuela.From August's record rate of 83.5 mb/d, global crude runs decline due to maintenance before surging in December to another record high of 84.5 mb/d. US refining is booming with runs almost reaching 18 mb/d in August, while Latin American activity continues to fall.OECD commercial stocks rose 7.9 mb in July to 2 824 mb, only the fourth monthly increase in the last year…
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Oil Market Report - March 2019
…IEA countries. Highlights Global oil demand growth slowed sharply in 4Q18 to 0.95 mb/d due to lower OECD demand, which declined by 0.3 mb/d year-on-year. Large falls were seen in Europe and Asia and there was slower growth in the Americas.Our global growth estimate for 2018 and our forecast for 2019 are nevertheless unchanged, at 1.3 mb/d and 1.4 mb/d, respectively, supported by solid non-OECD growth. Data for parts of the Middle East and Asia have been revised upwards.Global oil production fell by 340 kb/d in February as OPEC and non-OPEC cuts deepened. Output…