Pubblicato in: Cina, Commercio, Materie Prime

Cina. Maxipetroliere in rada in attesa di scaricare. La ripresa corre veloce.

Giuseppe Sandro Mela.

2020-06-06.

2020-06-03__Cina Petroiere in Rada 012

Secondo i media occidentali la Cina sarebbe stata prostrata economicamente dall’epidemia di coronavirus: la sua ripresa sarebbe un obiettivo alle calende greche, ben più tribolato di quello prossimo futuro dell’occidente.

Sta di fatto che i dati macro che affluiscono sono sostanzialmente molto buoni.

Sono chiaramente falsi‘ gridano in molti, accodandosi al trend in atto di parlar male di quella nazione.

Di questi giorni la notizia che Prada a maggio ha incrementato le vendite in Cina del +10%: non male per un paese che sarebbe stato ridotto alla fame.

«Oil tankers queuing off chinese coast evidence of rapid rebound»

«Two dozen or more ships waiting to offload crude cargoes»

«Congestion seen off Shandong province, home to most teapots»

«Queues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production amid a rapid rebound in fuel demand»

«Two dozen or more crude-laden tankers are waiting to discharge at terminals on China’s east coast that supply state-owned and independent refiners in the region, according shipbrokers and vessel-tracking data»

«Chinese refineries are increasing operations to convert more crude into gasoline and diesel after factories reopened and millions of people returned to work following the easing of restrictions»

«Government policy dictating that the retail price of fuels won’t be cut in line with sub-$40 a barrel oil has also boosted refining margins in the country.»

«The fleet of tankers arrived in Chinese waters during the second half of May and the ships have been idling off ports in Shandong and Liaoning provinces»

«Most of the vessels are Suezmaxes and Very-Large Crude Carriers, which are estimated to be collectively carrying about 4 million tons or more of oil from countries including Russia, Colombia, Angola and Brazil.»

«Run rates rose to a record high of about 76% at the end of May, compared with a low of 42% in February, according to industry consultant SCI99»

«Meanwhile, the queues might get even longer, with the highest number of supertankers»

* * * * * * *

2020-06-03__Cina Petroiere in Rada 013

Le fotografie da satellite sono evidenti.

Sarebbe sempre opportuno non fidarsi mai troppo della propaganda di una parte avversa. Poi, le bugie hanno le gambe corte.

*


Oil Tankers Queuing Off Chinese Coast Evidence of Rapid Rebound

– Two dozen or more ships waiting to offload crude cargoes

– Congestion seen off Shandong province, home to most teapots

*

Queues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production amid a rapid rebound in fuel demand.

Two dozen or more crude-laden tankers are waiting to discharge at terminals on China’s east coast that supply state-owned and independent refiners in the region, according shipbrokers and vessel-tracking data. Asia’s largest economy is leading a recovery in oil consumption, with demand in May almost back to levels seen before the coronavirus triggered stay-at-home orders.

Chinese refineries are increasing operations to convert more crude into gasoline and diesel after factories reopened and millions of people returned to work following the easing of restrictions. Government policy dictating that the retail price of fuels won’t be cut in line with sub-$40 a barrel oil has also boosted refining margins in the country.

“China’s demand recovery and current low oil prices have prompted refiners, especially the independents, to ramp up crude runs,” said Serena Huang, a Singapore-based analyst at analytics firm Vortexa Ltd. “This crude import momentum could be rolling over to June if refiners’ appetite remain strong.”

The fleet of tankers arrived in Chinese waters during the second half of May and the ships have been idling off ports in Shandong and Liaoning provinces, according to data compiled by Bloomberg. Most of the vessels are Suezmaxes and Very-Large Crude Carriers, which are estimated to be collectively carrying about 4 million tons or more of oil from countries including Russia, Colombia, Angola and Brazil.

Shandong is home to the Qingdao and Rizhao terminals and China’s independent refiners — known as teapots — that have staged a v-shaped recovery. Run rates rose to a record high of about 76% at the end of May, compared with a low of 42% in February, according to industry consultant SCI99.

Meanwhile, the queues might get even longer, with the highest number of supertankers since at least the start of 2017 hauling crude to China from almost everywhere across the globe.

“Low oil prices will also be supportive for strategic storage,” said Anoop Singh, who heads East of Suez tanker research at Braemar ACM Shipbroking in Singapore. “This will surely worsen the state of congestion at China’s ports.”

Pubblicato in: Cina, Economia e Produzione Industriale, Materie Prime, Russia

Russia. Partita la prima tanker LNG della stagione, da Yamal verso la Cina.

Giuseppe Sandro Mela.

2020-05-23.

Immagine.png2020-05-22__Yamal 001

«Russia’s biggest liquefied natural gas producer is sending the fuel across the Arctic to China more than a month earlier than usual as the ice that typically blocks the route thaws»

«The Christophe de Margerie, an ice-class vessel serving Novatek PJSC’s-led Yamal LNG project, departed from the production plant in Sabetta, Russia, on Monday»

«That pathway is the shortest and cheapest way for Yamal cargoes to reach Asia. But it’s usually shut for navigation for half a year in the winter due to thick ice»

«Novatek is examining longer and eventually year-round navigation along the route with a new class of nuclear-powered icebreakers»

«The Christophe de Margerie is slated to reach the Caofeidian terminal in China on June 11»

«In 2018 and 2019, the first shipments via the route were dispatched in late June and arrived in July.»

* * * * * * *

Lo sfruttamento dei campi petroliferi e di gas naturale di Yamal, zona artica, ha richiesto colossali investimenti ed innovazioni tecnologiche, ma adesso la Russia inizia a tagliare i dividendi.

*

Russia, Penisola Gydan. Arctic LNG-2: un progetto da 21 miliardi Usd.

Russia. Programma di quintuplicare il LNG entro il 2035.

Russia. Varato il Belgorod, Project 09852.

Russia. Akademik Lomonosov. Prima centrale atomica mobile e galleggiante.

Russia. Un gigantesco rompighiaccio per Lng. – Bloomberg.

Artico. 50% delle riserve minerarie.

Yamal. Gli Usa hanno perso, la Russia ha vinto e raddoppia. – Bloomberg

Russia. Yamal. Francia e Germania con il muso nella greppia delle sanzioni.

Cina, Groenlandia e ‘Polar Silk Road’.

Dimenticate Russia, Arabia, Iran, Opec. È la Cina che fa i prezzi del petrolio.

Cina. Arabia Saudita accetta i petro-yuan

Cina. Centrali elettriche nucleari. 37 reattori attivi, 60 in costruzione, 179 programmati.

Putin avvia lo sfruttamento del mega campo Kharasaveyskoye.

Russia. Varato il rompighiaccio atomico Ural. Alla fine saranno 13 navi.

Dall’Artico la sfida russa al gas Usa: Yamal Lng ultimato in tempi record

*

Cina. Marzo. Import petrolifero. Arabia Saudita -1.6%, Russia +31%.

Gazprom. Investimenti per 1.1 trilioni di rubli. Sila Sibiri.

Russia e Cina. Sila Sibiri. Un gasdotto da 4,000 km e 70 mld Usd.

Russia – Cina. Accordo per costruire reattori nucleari di nuova generazione.

* * * * * * * * * * *

La collaborazione sino-russa si basa su solide fondamenta. La Russia esporta petrolio e gas naturale e la Cina li acquista a prezzi stabili e convenienti per ambo le parti.

Si è costituito un redditizio mercato robusto, totalmente fuori dalla portata del blocco occidentale, anche perché le rotte ed i gasdotti sono entro i confini di queste due nazioni.

La Cina è diventata energeticamente autosufficiente e la Russia solida finanziariamente.

*


Russia’s Yamal LNG Sends Early Shipment Via Arctic Route.

– Christophe de Margerie tanker will deliver cargo to China

– Yamal LNG usually starts Northern Sea Route use in late June

*

Russia’s biggest liquefied natural gas producer is sending the fuel across the Arctic to China more than a month earlier than usual as the ice that typically blocks the route thaws.

The Christophe de Margerie, an ice-class vessel serving Novatek PJSC’s-led Yamal LNG project, departed from the production plant in Sabetta, Russia, on Monday and is now headed east via the so-called Northern Sea Route, according to ship-tracking data on Bloomberg.

That pathway is the shortest and cheapest way for Yamal cargoes to reach Asia. But it’s usually shut for navigation for half a year in the winter due to thick ice.

“May is indeed a very unusual time for the start of an eastbound journey via the Northern Sea Route,” Sergey Balmasov, head of the information office at the Center for High North Logistics said by phone. “Normally, as late as in April the navigation conditions are the toughest in that part of the route. The shipment is a proof that the timeframe of the navigation season can be extended.”

Novatek is examining longer and eventually year-round navigation along the route with a new class of nuclear-powered icebreakers, a task made easier with climate change and thinning Arctic ice. The company did not immediately respond to requests for a comment.

The Christophe de Margerie is slated to reach the Caofeidian terminal in China on June 11. Cargo-tracking company Kpler identified the vessel’s move earlier.

The ship’s chosen path indicates the Northern Sea Route may have opened for navigation earlier than normal. In 2018 and 2019, the first shipments via the route were dispatched in late June and arrived in July.

Pubblicato in: Cina, Devoluzione socialismo, Materie Prime

Cina. Aprile. Raffinerie. Export +10.2% MoM, +29.7% YoY.

Giuseppe Sandro Mela.

2020-05-20.

2020-05-20__Cina. Zhuhai. Raffinerie. 013

Mentre l’occidente si culla nel sogno che nel 2050 il sole dell’avvenire splenderà sulle automobili elettriche, che saranno ubiquitarie, e l’odiato petrolio sarà abbandonato, ecco i dati di produzione delle raffinerie cinesi durante il lockdown da coronavirus:

– Export +10.2% aprile su marzo.

– Export +29.7% marzo 2020 su marzo 2019.

– Export primo quadrimestre +15.1% rispetto al primo quadrimestre 2019.

*

«The rebound in China’s crude oil processing in April looms large over Asia’s refineries, which are already battling weak profit margins from the slump in fuel demand caused by lockdowns aimed at containing the coronavirus pandemic»

«China’s refineries processed the equivalent of 13.1 million barrels per day (bpd) in April, up from a 15-month low of 11.78 million bpd in March, according to calculations based on official data released on May 15»

«While the higher processing rate reflects a recovery in fuel demand in China after it lifted most lockdown restrictions, it also raises the likelihood that more refined products will be exported into a well-supplied Asian market»

«There are already signs that China’s modern, low-cost refineries are playing a bigger role in Asia’s refined product markets, with official data showing fuel exports at a record-high 8 million tonnes in April, up 10.2% from March and 29.7% from the same month in 2019»

«For the first four months of the year, China exported 1.72 million bpd of refined products, up 15.1% from the same period in 2019»

«Diesel demand has held up relatively well during the coronavirus crisis as freight, heavy vehicle transport, agriculture and mining have all largely continued»

* * * * * * * *

Le raffinerie cinesi, di nuova concezione e costruzione, producono a costi molto ridotti rispetto a quelle occidentali, che risentono della vetustà degli impianti. Ne consegue che i loro prezzi sono altamente concorrenziali.

A quanto si costata, l’epidemia da covirus non ha impedito che queste raffinerie lavorassero almeno all’84% delle capacità.

Almeno per questo settore industriale sarebbe inutile parlare della ripresa: non è mai andato in recessione.

Se i governanti occidentali pensassero, questi dati potrebbero dar loro molti elementi utili al benessere dei loro popoli.

*


Column: China refineries loom over Asia with record oil product exports: Russell

The rebound in China’s crude oil processing in April looms large over Asia’s refineries, which are already battling weak profit margins from the slump in fuel demand caused by lockdowns aimed at containing the coronavirus pandemic.

China’s refineries processed the equivalent of 13.1 million barrels per day (bpd) in April, up from a 15-month low of 11.78 million bpd in March, according to calculations based on official data released on May 15.

While the higher processing rate reflects a recovery in fuel demand in China after it lifted most lockdown restrictions, it also raises the likelihood that more refined products will be exported into a well-supplied Asian market.

There are already signs that China’s modern, low-cost refineries are playing a bigger role in Asia’s refined product markets, with official data showing fuel exports at a record-high 8 million tonnes in April, up 10.2% from March and 29.7% from the same month in 2019.

While a full breakdown by fuel type isn’t yet available, using a conversion factor of eight barrels of product per tonne gives a fuel-export figure of 2.13 million bpd.

For the first four months of the year, China exported 1.72 million bpd of refined products, up 15.1% from the same period in 2019.

The increase in fuel exports from China isn’t the sole reason for the regional weakness in refinery profit margins, but it certainly is a contributing factor, and appears to be largely structural rather than a temporary phenomenon.

China issued a second batch of fuel export quotas for this year to domestic refiners, allowing for 28 million tonnes of shipments, mainly for gasoline, diesel and jet kerosene, Reuters reported on May 11, citing four sources.

This follows the first 2020 allowance of 27.99 million tonnes and means Chinese refiners can keep product exports at the current high levels, should they so choose.

MARGINS SUFFERING

There are various methods of calculating refinery margins, with one of the benchmarks being the profit per barrel at a typical Singapore refinery using Dubai crude.

This was showing a loss of $3.29 a barrel in early trade on Monday, wider than the five-day average of a loss of $1.84 and well below the moving 365-day average of a profit of $2.57.

The main culprit is gasoline, for which demand has been severely affected as a result of personal transport being curtailed by the lockdowns in various Asian countries.

The cost of producing 92-RON gasoline in Singapore from Brent crude was a loss of 85 U.S. cents per barrel on May 15.

While this was up from a record low of a loss of $13.15 a barrel on April 14, it’s still well short of the high so far this year of a profit of $9.35 on Feb. 11, just as the coronavirus was breaking out of China to spread around the globe.

The margin for gasoil, the building block of diesel and jet kerosene, has held up better, ending at a profit of $3.45 a barrel on May 15, but this was just over a quarter of the $12.79 high so far this year, reached on March 30.

Diesel demand has held up relatively well during the coronavirus crisis as freight, heavy vehicle transport, agriculture and mining have all largely continued.

Another factor that has perhaps prevented refining margins from falling more than they already have was the idling of capacity during recent weeks, with Refinitiv Oil Research data showing a sharp drop in utilisation.

Putting together the four biggest refining nations in Asia – China, India, Japan and South Korea – shows runs were just 84% of capacity in April, down from the annual averages of 94%-97% over the previous five years.

Refinery throughput is likely to increase in coming months, though, as more plants come back on stream as lockdowns are lifted. The question is whether the nascent recovery in fuel demand will be more, or less, than the additional volume of products being produced.

Pubblicato in: Brasile, Cina, Devoluzione socialismo, Materie Prime, Stati Uniti

Cina, Brasile, Occidente e petrolio. Si razionalizzi che il mercato è variato.

Giuseppe Sandro Mela.

2020-05-17.

2020-05-19__Brasile 001

Nelle ultime settimane il mondo politico ed economico si è focalizzato sul crollo del prezzo dei prodotti petroliferi, discesa che stenta a far ristabilire valori che non danneggino troppo i produttori.

Il calo è conseguente ad un crollo della domanda, fatto che ha comportato una significativa riduzione delle quantità estratte.

Ma nella visione provinciale delle economie occidentalizzate è stato quasi automatico concludere che il calo della domanda occidentale fosse esteso a tutto l’orbe terracqueo. E questo è un severo errore di valutazione.

Se sicuramente la quota del mercato petrolifero in occidente è significativamente rilevante, altrettanto sicuramente la Cina è il maggiore importatore di fossili estrattivi.

Se è vero che l’epidemia da coronavirus ha determinato un grande calo della produzione cinese, sarebbe altrettanto vero constatare come la Cina si stia riprendendo economicamente in modo molto più veloce delle attese. Ma non esiste ripresa senza ripresa delle importazioni energetiche.

Cina. Aprile. Vendite al dettaglio risalite dal -20.5% di febbraio agli attuali -7.5%.

Cina. Aprile. Produzione Industriale Annualizzata +3.9%.

Cina. Innalzati i dazi sui tubi di acciaio EU ed USA.

Crollano Germania, Francia e Regno Unito, mentre la Cina vola.

Cina. Marzo. Import petrolifero. Arabia Saudita -1.6%, Russia +31%.

Daimler, Mercedes Benz, ha ripreso la produzione in Cina.

Exxon Mobil Corp e la Cina. Notizia non economica bensì politica.

Gazprom. Investimenti per 1.1 trilioni di rubli. Sila Sibiri.

Russia e Cina. Sila Sibiri. Un gasdotto da 4,000 km e 70 mld Usd.

Russia – Cina. Accordo per costruire reattori nucleari di nuova generazione.

Cina. Centrali elettriche nucleari. 37 reattori attivi, 60 in costruzione, 179 programmati.

* * * * * * *

«Brazil’s state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America’s largest economy»

«On a Friday earnings call with analysts, executives credited the company’s strong relationship with independent refineries in China’s Shandong Province, known as “teapots,”‘ for allowing Petrobras to export a record amount of crude in recent months, even as some economies are effectively shut»

«Storage capacity for crude oil and gasoline is not proving to be an issue»

«Petroleo Brasileiro SA, as the firm is formally known, had throttled back oil production by 200,000 barrels per day in early April, or almost 10% of its output, on fears that weak global demand amid the coronavirus pandemic demand would leave the company without places to store crude»

«But within a month Petrobras had reversed its cuts, surprising many.»

«Executives said on Friday that crude sales to China have been particularly key to bringing Petrobras through the demand crisis caused by the novel coronavirus pandemic, while bunker fuels sales had also remained robust»

«Our commercial team has been developing a long-term relationship with Shandong refineries in China where our oil has strong demand even during the crisis»

«Petrobras has capacity to boost oil exports 10% above the April record of 1 million bpd»

«domestic demand for gasoline and diesel had rebounded significantly from lows in early April»

«While demand for gasoline had been 65% lower than normal, it is now off only 40% to 45% …. Diesel consumption had fallen 50%, but is now only 30% off normal levels»

* * * * * * *

Le previsioni del pil ppa fatte dall’Imf sono eloquenti.

IMF. Proiezioni del pil mondiale al 2024 e 2050. La scomparsa dell’Europa.

Nel 2024 il pil ppa dei paesi G7 dovrebbe essere 50,035 miliardi, contro i 69,169 del blocco Brics.

Per l’occidente solo gli Stati Uniti reggerebbero ancora il confronto con Cina ed India, mentre Giappone e stati del blocco europeo diventerebbero percentualmente ben poco rilevanti nel sistema economico mondiale.

Volenti o nolenti questa è la realtà dei fatti.

*


Petrobras looks to China’s ‘teapots’ to keep oil exports flowing

Brazil’s state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America’s largest economy.

On a Friday earnings call with analysts, executives credited the company’s strong relationship with independent refineries in China’s Shandong Province, known as “teapots,”‘ for allowing Petrobras to export a record amount of crude in recent months, even as some economies are effectively shut. Storage capacity for crude oil and gasoline is not proving to be an issue, they added.

Petroleo Brasileiro SA, as the firm is formally known, had throttled back oil production by 200,000 barrels per day in early April, or almost 10% of its output, on fears that weak global demand amid the coronavirus pandemic demand would leave the company without places to store crude.

Other major oil companies also scaled back production significantly, including Chevron Corp’s cutbacks in the Permian Basin. But within a month Petrobras had reversed its cuts, surprising many.

On Thursday night, the company posted margins that beat expectations, even as it took a $11 billion impairment on its exploration and production assets.

Executives said on Friday that crude sales to China have been particularly key to bringing Petrobras through the demand crisis caused by the novel coronavirus pandemic, while bunker fuels sales had also remained robust.

“Our commercial team has been developing a long-term relationship with Shandong refineries in China where our oil has strong demand even during the crisis,” Chief Logistics Officer André Barreto Chiarini said, citing appetite for the output from four specific offshore oilfields in Brazil.

“Crude oil from the Lula, Iracema, Sapinhoa and Buzios fields have the same overall characteristics as specific Chinese oils … that are experiencing declining production,” he said.

He added that Petrobras has capacity to boost oil exports 10% above the April record of 1 million bpd.

In a sign that adherence to social distancing measures is slipping from an already low baseline in Brazil, Petrobras downstream chief Anelise Lara told journalists that domestic demand for gasoline and diesel had rebounded significantly from lows in early April.

While demand for gasoline had been 65% lower than normal, it is now off only 40% to 45%, she said. Diesel consumption had fallen 50%, but is now only 30% off normal levels.

The company expects demand for all products except jet fuel to return to near-normal levels in the third or fourth quarter, Lara added.

Executives also said they would dramatically reduce the company’s real estate footprint to cut costs. The home office regime adopted by the company during the pandemic showed that 50% of office workers could effectively work from home permanently, Chief Executive Roberto Castello Branco said.

Brazil-listed preferred shares in Petrobras were down 0.1% in afternoon trade, while Brazil’s benchmark Bovespa equities index fell over 1%.

Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale, Materie Prime

Acciaio. Primo Trimestre. Mondo -1.4%, Italia -40.2%.

Giuseppe Sandro Mela.

2020-05-17.

Acciaio a rotoli 001

«Complessivamente, la produzione mondiale di acciaio grezzo è stata di 443 milioni di tonnellate nei primi tre mesi del 2020, in calo dell’1,4% rispetto allo stesso periodo del 2019»

«la produzione del primo trimestre 2020 in Asia è diminuita soltanto dello 0,3% rispetto al 2019, sostenuta in gran parte dalla produzione cinese, aumentata dell’1,2% durante il trimestre»

«nel Nord America, …. la produzione è diminuita del 4%.»

«La produzione in Giappone è diminuita del 9,7% e negli Stati Uniti del 6%.»

«riduzioni della produzione di acciaio grezzo a doppia cifra in nazioni come l’Italia (-40,2%), la Germania (-20,9%), la Francia (-13,2%) e la Spagna (-14,6%).»

* * * * * * *

Cina. Innalzati i dazi sui tubi di acciaio EU ed USA.

Messi i dazi sull’acciaio inossidabile da Cina, Indonesia e Taiwan.

Cina. Tassa anti-dumping sull’acciaio da EU, Indonesia, Giappone, Sud Korea.

* * *

Con una crisi economica di portata mondiale ci si sarebbe attesi un calo significativo della produzione di acciaio, che invece a livello mondiale scendo solo del -1.4%: anzi, in Cina è aumentata, anche se di poco, dell’1.2%.

Il crollo è avvenuto invece nei paesi produttori dell’Unione Europea: l’Italia ha mostrato un -40.2%, ma contrazioni a due cifre sono presenti in Germania, Francia e Spagna.

È in corso una guerra dei dazi, ove l’Unione Europea accusa la Cine di dumping, e, viceversa, la Cina accusa l’Unione Europea di fare altrettanto.

Il nodo però risiede nel fatto che i prezzi europei di produzione sono totalmente fuori mercato, anche se stati ed Unione elargiscono sussidi per consentire un minimo di export.

*


Acciaio: i numeri drammatici del crollo di marzo.

Gli ultimi dati della World Steel Association fotografano impietosamente il crollo della produzione di acciaio in molti paesi, tra cui anche l’Italia.

I produttori di acciaio in Europa e in Asia hanno fatto la loro parte nel tagliare la produzione a seguito della pandemia di COVID-19.

Tutti si aspettavano quindi una riduzione cospicua delle tonnellate prodotte a marzo. Ma leggere numeri così drammatici a consuntivo fa comunque un certo effetto, anche pensando che nei mesi successivi potrebbe essere ancor peggio.

Crollo del 40,2 percento in Italia

Le misure di lockdown per contenere i contagi hanno portato a riduzioni della produzione di acciaio grezzo a doppia cifra in nazioni come l’Italia (-40,2%), la Germania (-20,9%), la Francia (-13,2%) e la Spagna (-14,6%). Secondo la World Steel Association, la produzione globale di acciaio grezzo di marzo per i 64 paesi che aderiscono all’associazione ammontava a 147,1 milioni di tonnellate, con una diminuzione del 6% rispetto ai 156,5 milioni di tonnellate prodotte lo stesso mese dello scorso anno.

Oltre ai paesi già citati, anche due degli altri maggiori produttori di acciaio del mondo hanno tirato il freno a mano: Giappone e Stati Uniti. La produzione in Giappone è diminuita del 9,7% e negli Stati Uniti del 6%.

In Cina, la cui economia è stata colpita per prima dal coronavirus, il PIL si è ridotto di oltre il 6% nel primo trimestre. Inoltre, la produzione di acciaio a marzo è diminuita dell’1,7% rispetto a marzo 2019.

Ma la produzione cinese rimane forte

Tuttavia, la produzione del primo trimestre 2020 in Asia è diminuita soltanto dello 0,3% rispetto al 2019, sostenuta in gran parte dalla produzione cinese, aumentata dell’1,2% durante il trimestre. Non così è stato per l’Unione Europea, la cui produzione è diminuita del 10% rispetto allo stesso trimestre del 2019. Stessa cosa nel Nord America, dove la produzione è diminuita del 4%.

Complessivamente, la produzione mondiale di acciaio grezzo è stata di 443 milioni di tonnellate nei primi tre mesi del 2020, in calo dell’1,4% rispetto allo stesso periodo del 2019.

Pubblicato in: Cina, Materie Prime, Problemia Energetici, Russia

Cina. Marzo. Import petrolifero. Arabia Saudita -1.6%, Russia +31%.

Giuseppe Sandro Mela.

2020-05-05.

2020-05-05__russia-china-gas-deal-001

«China’s March crude oil imports rose 4.5% year on year to 9.68 million barrels per day (bpd)»

«China’s March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, while purchases from No.2 supplier Russia rose 31%»

«Shipments from Saudi Arabia were 7.21 million tonnes, or 1.7 million bpd»

«That was down from 1.73 million bpd a year earlier and average daily imports of 1.79 million bpd during the first two months of this year»

«Russia supplied 7.02 million tonnes last month, or 1.66 million bpd, down from 1.71 million bpd recorded for the first two months»

«While state refiners mostly maintained deep production cuts in March to reduce their fuel stocks, independent plants cranked up run rates as the oil price plunge triggered partly by Saudi and Russian pledges to increase supply boosted refining margins»

«China’s imports from the United States remained close to zero in March»

«Also, data showed China’s imports from Iran at 255,779 tonnes, down 88.9% from a year earlier.»

* * * * * * *

2020-05-05__russia-china-gas-deal-002

Gazprom. Investimenti per 1.1 trilioni di rubli. Sila Sibiri. [2017-11-06]

Russia e Cina. Sila Sibiri. Un gasdotto da 4,000 km e 70 mld Usd. [2020-0408]

La Cina è il maggiore utilizzatore di prodotti petroliferi e gas naturale al mondo.

A marzo, nonostante l’epidemia da coronavirus, ha incrementato l’import petrolifero del 4.5% anno su anno, ossia 9.68 barili al giorno.

Nel contempo, è entrato in funzione il gasdotto Siri Sibiri, che porta il gas naturale estratto nella Siberia orientale in Cina, con un percorso di quasi 4,000 kilometri.

Se correttamente la Cina intende mantenere rapporti cordiali con tutti i produttori di energetici, al momento la Russia fornisce quasi la metà dei suoi fabbisogni energetici, a seguito di una lunga serie di accordi vantaggiosi per ambo le parti.

La Cina non è più ricattabile dal punto di vista energetico. Non solo.

Russia – Cina. Accordo per costruire reattori nucleari di nuova generazione.

Cina. Centrali elettriche nucleari. 37 reattori attivi, 60 in costruzione, 179 programmati.

A breve, in Cina vi saranno 97 reattori attivi e 179 in costruzione: dieci anni, che passano presto, e la Cina dovrebbe poter essere energeticamente del tutto autosufficiente.

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China’s March crude imports from Saudi slip, Russia up 31%: customs.

China’s March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, while purchases from No.2 supplier Russia rose 31%, Reuters’ calculations based on customs data showed on Sunday.

China’s March crude oil imports rose 4.5% year on year to 9.68 million barrels per day (bpd) as refiners stocked up on cheaper cargoes despite falling domestic fuel demand and cuts in refining rates due to the impact the COVID-19 pandemic.

Shipments from Saudi Arabia were 7.21 million tonnes, or 1.7 million bpd, data from the General Administration of Customs showed.

That was down from 1.73 million bpd a year earlier and average daily imports of 1.79 million bpd during the first two months of this year.

Russia supplied 7.02 million tonnes last month, or 1.66 million bpd, down from 1.71 million bpd recorded for the first two months, the data showed.

While state refiners mostly maintained deep production cuts in March to reduce their fuel stocks, independent plants cranked up run rates as the oil price plunge triggered partly by Saudi and Russian pledges to increase supply boosted refining margins.

Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries as well as other producers have since reached a new agreement on output cuts, helping to lift oil prices off historical lows but with many saying that deeper reductions will be needed.

China’s imports from the United States remained close to zero in March. After falling last year because of the U.S.-China trade war, they are expected to pick up later in 2020 after Beijing started granting tariff waivers on U.S. goods including crude oil from early March.

There were no shipments from Venezuela for a fifth month in a row, as China National Petroleum Corp (CNPC) [CNPET.UL], Caracas’s top oil client, steered clear of Venezuelan crudes to avoid violating secondary U.S. sanctions.

Also, data showed China’s imports from Iran at 255,779 tonnes, down 88.9% from a year earlier.

Below are details of imports from China’s key suppliers. Volumes are in million tonnes, with the percentage changes calculated by Reuters.

Pubblicato in: Economia e Produzione Industriale, Materie Prime, Russia

Russia. Petrolio. Taglia la produzione del 20%.

Giuseppe Sandro Mela.

2020-05-01.

Kremlino 001

«Russian oil producer Tatneft has cut its output by around a fifth this month, before a global supply deal takes effect in May, because storage capacity is full and European demand is weak»

«Facing an historic oversupply, Russia and a number of other leading oil producing nations, a group known as OPEC+, agreed to jointly cut production by nearly 10 million barrels per day (bpd).»

«But mid-sized producer Tatneft has taken pre-emptive action and already cut production because, unlike other Russian producers, it has no access to Asian markets and mainly supplies Europe, where demand has collapsed»

«Tatneft was pumping an average of 29 million tonnes of oil per year, or nearly 600,000 bpd.»

«In April, that level has fallen to around 65,000 tonnes a day or to 480,000 bpd»

«Russian companies would target mainly mature fields and where investments have been largely returned, using a mixture of stopping wells for repairs, conservation and limiting new drilling to meet cuts»

* * *

«Russia will cut its May oil output by 19% to 8.5 million barrels per day (bpd) from its February-March level of 10.4 bpd»

«Lukoil will have to reduce its oil output in Russia by 300,000 bpd in May, compared with February, but Russian quotas will not affect Lukoil’s activities in other countries»

«Together with OPEC+, the cuts could total 20 million bpd, or about a fifth of global oil production.»

* * * * * * *

In Europa si stanno sommando molti elementi negativi. L’economia dell’Unione Europea stagnava da tempo ed era già scesa nella zona di recessione quando si è evidenziata la crisi da epidemia da Covid-19 che ha imposto un blocco della produzione industriale. La domanda di energetici è crollata.

«Europe, where demand has collapsed»

La ripresa del mercato petrolifero europeo sarà un valido indicatore di quando e come avverrà la ripresa economica.

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Russia’s Tatneft cuts oil output ahead of OPEC+ amid lack of storage, poor demand: sources

Russian oil producer Tatneft has cut its output by around a fifth this month, before a global supply deal takes effect in May, because storage capacity is full and European demand is weak, according to sources and data seen by Reuters.

Facing an historic oversupply, Russia and a number of other leading oil producing nations, a group known as OPEC+, agreed to jointly cut production by nearly 10 million barrels per day (bpd). Moscow has ordered companies to reduce production by a fifth from May 1.

But mid-sized producer Tatneft has taken pre-emptive action and already cut production because, unlike other Russian producers, it has no access to Asian markets and mainly supplies Europe, where demand has collapsed.

“We are reacting to the demand,” a company source told Reuters.

Tatneft operates in Tatarstan in central Russia which became the country’s main oil province in the 1970s with output of 2 million bpd, helping the Soviet Union fund its arms race with the United States.

Production fell steeply in the 1990s but has recovered in recent years thanks to modern but expensive recovery technologies. Over the last couple of years, Tatneft was pumping an average of 29 million tonnes of oil per year, or nearly 600,000 bpd.

In April, that level has fallen to around 65,000 tonnes a day or to 480,000 bpd, preliminary data from the Russian energy ministry seen by Reuters showed, Tatneft’s lowest since the early 2000s.

“We will continue with production as it now is from now on,” the second Tatneft source said. “A fall in April is due to lack of storage, everything is full.”

Tatneft is one of the oldest Russian oil producers, whose fields were discovered in the frenzy of the Soviet Union’s quest for oil in the 1940s during the fight with Nazi Germany.

Sources said earlier this month that to implement the production cuts under the global oil deal, Russian companies would target mainly mature fields and where investments have been largely returned, using a mixture of stopping wells for repairs, conservation and limiting new drilling to meet cuts.

In reply to a Reuters request for comment, Tatneft said it would provide information on this month’s activity once official statistics due out on May 2 are published.

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Russia to cut May oil output by 19% from February-March: Interfax, citing Lukoil.

Russia will cut its May oil output by 19% to 8.5 million barrels per day (bpd) from its February-March level of 10.4 bpd, Interfax news agency reported on Monday, citing Lukoil’s head of investor relations.

Lukoil will have to reduce its oil output in Russia by 300,000 bpd in May, compared with February, but Russian quotas will not affect Lukoil’s activities in other countries, said Alexander Palivoda.

The Organization of the Petroleum Exporting Countries (OPEC) and other large oil producers led by Russia, a group known as OPEC+, agreed this month to cut their combined production by 9.7 million bpd in May and June to support the oil market.

Other leading oil producers, such as the United States, Norway and Canada, are also expected to join the cuts. Together with OPEC+, the cuts could total 20 million bpd, or about a fifth of global oil production.

Reuters this month reported that the Russian energy ministry has told domestic oil producers to reduce output by about 20% from their average February levels, which would bring Moscow in line with its commitment under the global supply pact.

Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale, Materie Prime, Stati Uniti

Exxon Mobil Corp e la Cina. Notizia non economica bensì politica.

Giuseppe Sandro Mela.

2020-04-28.

Exxon Mobil 001

La Exxon Mobil è una società multinazionale: nel 2018 aveva una revenue di 279.3 miliardi Usd, un total assets di 346.2 miliardi, un net income di 20.84 miliardi e 71,000 dipendenti. È uno stato dentro uno stato, ma i suoi orizzonti spaziano su tutto il mondo: la sua politica economica si esprime a livello mondiale, e non necessariamente coincide con quella degli Stati Uniti, ove la holding risiede. Mr Darren Woods, il boss, ha un potere da far invidia a molti capi di grandi stati, e non ha le pastoie di una opposizione interna, almeno per il momento [vedere nota in fondo].

Orbene, proprio mentre negli Stati Uniti ed in tutto il mondo occidentalizzato sta crescendo una rancore contro la Cina, cui si imputa una gestione troppo spigliata dell’epidemia da coronavirus ma, soprattutto, di patrocinare i propri interessi, Mr Woods sta dando inizio ad una grande operazione strategica proprio in Cina. Almeno ufficialmente, senza aver detto nulla a nessuno, alla chetichella.

E la cosa non sarebbe venuta fuori se non ne avesse dato l’annuncio Xinhua, agenzia ufficiale del Governo cinese.

«Multinational oil and gas corporation ExxonMobil Wednesday broke ground on its solely-funded chemical complex in Huizhou, southern China’s Guangdong Province»

«The complex, with a total investment of about 10 billion U.S. dollars, will be built in two phases»

«The first phase with a 1.6 million tonne-per-year ethylene cracker and down-stream production equipment is scheduled to be completed by 2023 when construction on the second phase will begin»

«An annual operating income of 39 billion yuan (5.5 billion U.S. dollars) and 7.3 billion yuan of taxes will be expected when the first phase reaches designed capacity»

«China is a long-term strategic development platform of ExxonMobil, and the groundbreaking is a milestone in the implementation of the megaproject»

«It took only about 18 months for such a mammoth project to kick off, which demonstrated high efficiency on the part of China»

«The first phase of the Huizhou project with an initial investment of 34.3 billion yuan involves an ethylene unit and middle and downstream polyethylene and polypropylene plants. A variety of chemical products to be produced are widely used in industries and daily life»

* * * * * * *

In condizioni normali, e con altri partner, questa operazione avrebbe potuto sembrare essere del tutto normale.

Ma di questi tempi certo non lo è: contrasta platealmente le direttive del Congresso e, parzialmente, della White House.

Si deve quindi prendere atto che la Exxon Mobil Corp si è resa politicamente indipendente. [Nota in fondo]

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Exxon Mobil starts building $10 billion China petrochemical complex: Xinhua

Exxon Mobil Corp (XOM.N) kicked off construction on Wednesday of its $10 billion petrochemical complex in south Chinese city Huizhou, state news agency Xinhua reported.

The complex, which consists of a 1.6 million tonnes per year ethylene facility, is one of the few mega petrochemical projects in China wholly owned by a foreign investor.

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Xinhua. ExxonMobil breaks ground on multibillion-dollar chemical complex in China

Multinational oil and gas corporation ExxonMobil Wednesday broke ground on its solely-funded chemical complex in Huizhou, southern China’s Guangdong Province.

Due to the COVID-19 pandemic, a special “cloud ceremony” was held online with video connections linking the Huizhou Dayawan Petrochemical Industrial Park, and places in Beijing and Dallas.

The complex, with a total investment of about 10 billion U.S. dollars, will be built in two phases. The first phase with a 1.6 million tonne-per-year ethylene cracker and down-stream production equipment is scheduled to be completed by 2023 when construction on the second phase will begin.

An annual operating income of 39 billion yuan (5.5 billion U.S. dollars) and 7.3 billion yuan of taxes will be expected when the first phase reaches designed capacity.

ExxonMobil Chairman and CEO Darren Woods in Dallas said via video link that the project reflects China’s growing commitment to foreign direct investment and fostering innovation.

Infrastructure and public facilities built at the national, regional and local levels provide critical support while the new laws and regulations further improve China’s economic competitiveness, he added.

“All of this creates an environment that enables ExxonMobil to continue our strategic long-term investments,” the chairman said.

China is a long-term strategic development platform of ExxonMobil, and the groundbreaking is a milestone in the implementation of the megaproject, said Fernando Vallina, chairman of ExxonMobil (China) Investment Co., Ltd.

Ma Xingrui, governor of Guangdong, said local governments have effectively overcome difficulties brought by the epidemic to complete preparatory works including project approval and sea reclamation.

It took only about 18 months for such a mammoth project to kick off, which demonstrated high efficiency on the part of China, Ma said at the ceremony.

The provincial government said it will do whatever it can to make sure the chemical complex goes into operation by 2023.

POST-EPIDEMIC OPPORTUNITY

As the COVID-19 epidemic wanes in China, the resumption of work and production has been accelerated. The operation of foreign-owned companies in China also began to gain momentum as foreign investors’ confidence rose and a batch of projects landed.

The coastal city of Huizhou neighbors Shenzhen, China’s innovation hub and Dongguan, known as “the world’s factory”. Inside the city’s Dayawan Petrochemical Industrial Park are clustered petrochemical giants such as Shell, BASF, Clariant, Mitsubishi and LG.

In the meantime, ExxonMobil’s footprint is also expanding in the world’s largest petrochemical market. Over the past half-century, its business in China has stretched to various fields of the energy industry, with production bases built in Fujian, Tianjin and Jiangsu, and a major technology center in Shanghai.

The first phase of the Huizhou project with an initial investment of 34.3 billion yuan involves an ethylene unit and middle and downstream polyethylene and polypropylene plants. A variety of chemical products to be produced are widely used in industries and daily life.

Local suppliers and workers will be employed at the preparatory and construction stages, which is also an important contribution to China’s development, according to Fernando Vallina.

Construction on the central control office building, temporary and supporting facilities has begun this month, and is expected to be completed by September.

The concept of mutual benefit and win-win cooperation is and will be observed throughout the whole process, said Lin Nianxiu, deputy head with the National Development and Reform Commission.

“It is not only conducive to promoting the upgrading of China’s petrochemical industry and boosting regional economic development, but also good for ExxonMobil to share China’s development opportunities,” Lin said. Enditem

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NOTA.

Perché la Chiesa inglese sbuffa contro i vertici di Exxon.

Due quinti degli investitori della Exxon Mobil hanno appoggiato le richieste della Chiesa d’Inghilterra di far nominare ai vertice della compagnia petrolifera un presidente indipendente dopo le critiche rivolte alla compagnia per le sue posizioni sul cambiamento climatico.

Secondo quanto riferisce The Times, la Chiesa inglese ha guidato la rivolta contro il governo societario della più grande compagnia petrolifera quotata al mondo dopo il tentativo di Exxon di bloccare il suo impegno a far votare gli azionisti su una proposta che costringeva la compagnia stessa a fissare obiettivi di riduzione delle emissioni. Alla riunione annuale della Exxon a Dallas, Edward Mason, capo responsible investment presso i Church Commissioners, il fondo di dotazione della chiesa inglese, ha riferito che i progressi per far sì che l’azienda si impegnasse di più nel cambiamento climatico erano stati “dolorosamente lenti”, in contrasto con l’impegno di successo della BP.

Il movimento che chiede la separazione dei ruoli di amministratore delegato e presidente – entrambi detenuti attualmente da Darren Woods – è stato sostenuto dal 40,8 per cento degli azionisti che hanno votato rispetto al 38,7 per cento dell’anno precedente. Mason ha ammesso che la cifra riflette la “misura della profonda insoddisfazione degli investitori”. Una seconda mozione, sostenuta dalla Chiesa, che richiedeva una maggiore trasparenza sulle differenze, le competenze e l’esperienza dei membri del consiglio di amministrazione della Exxon, è stata sostenuta invece da quasi il 30 per cento degli azionisti.