Nicholas Lua

Oil Products Reporter at Bloomberg @business News | Usual disclaimers

[Nicholas Lua @Nich_Lua]

Singapore electricity prices surged AGAIN, a further sign of market volatility as the world faces a serious power crunch:
https://t.co/QM9zHMx2iT

[David Marino @dmarino4]

The surge in the cost of jet fuel since the start of the Iran war is highlighting the vast disparity between airlines that hedge well, hedge poorly and don't hedge at all... w/@nathanrisser1 @Nich_Lua @alexlongley1 https://t.co/gxYBQsUJiE #OOTT

[Rakesh Sharma @journorakesh]

India’s consumers — hit with the first fuel price hike in four years — will likely face more such rises in the near term, as the government grapples with the economic impact of a months-long conflict in the Persian Gulf. https://t.co/CaXls9VmfI

[Javier Blas @JavierBlas]

China ordered its national companies to ignore US sanctions on domestic oil refiners that Washington said were buying Iranian oil.

In a rare order issued on Saturday, it said Chinese entities shall "not recognize, implement, or comply with the sanctions" in order to "safeguard national sovereignty, security, and development interests."

https://t.co/BK1YpFuz82

[Javier Blas @JavierBlas]

You know Asia is truly short of crude oil when Japanese television covers the arrival of a single oil tanker from America as a major news story

[Bloomberg @business]

The Strait of Hormuz crisis represents “the biggest energy disruption we’ve ever seen,” despite oil prices not yet reaching the inflation-adjusted equivalent of previous highs, S&P Global Vice Chairman Daniel Yergin warned on Saturday. https://t.co/TSEN4SsAl7

[Javier Blas @JavierBlas]

Qatar state-owned LNG giant QatarEnergy has published a statement detailing the overnight damage, providing more granularity (particularly around the damage of the GTL plant).

[Andy Mukherjee @andymukherjee70]

“Let me (not) take you far away. You can’t afford a holiday.” Singapore jet fuel benchmark, ladies and gentlemen:

[Nicholas Lua @Nich_Lua]

Kuwait is ramping up fuelmaking at its giant Al-Zour refinery, restarting one of two crude distillation units that had been halted since October -- with
@FionamMacDonald #oott

[Ziad Daoud @ZiadMDaoud]

"It’s uncommon for a city to have even one sovereign wealth fund; the UAE’s capital has three"

This piece is a nice overview of how and where Abu Dhabi invests its wealth

https://t.co/UkzuXTPWzO

[Rakesh Sharma @journorakesh]

.@NayaraEnergy, part-owned by @RosneftEN, tightened conditions for selling products after European Union imposed #sanctions, highlighting the fallout for the processor, its customers, and the wider market from the tougher restrictions. with @Nich_Lua https://t.co/h03wUjbOiD

[Rakesh Sharma @journorakesh]

#Russian #energy giant #Rosneft’s plan to sell its stake in India-based Nayara Energy Ltd. may be imperiled by fresh restrictions from the European Union. With @Nich_Lua #sanctions #oil https://t.co/Bp6f5un5Wc

[Nicholas Lua @Nich_Lua]

Russian energy giant Rosneft’s plan to sell its stake in India-based Nayara Energy Ltd. may be imperiled by fresh restrictions from the European Union -- with the brilliant @journorakesh #oott

Gift link: https://t.co/WTyfvx1RkS

[Javier Blas @JavierBlas]

The pressure this month on the "OPEC secondary sources" is quite strong. Effectively, Riyadh is trying to mask a large output hike in June.

It reminds me of an episode in 2010, when KSA kept a ~1m b/d hike secret, as recounted — see below — by a top Saudi oil official #OOTT 1/4

[Nicholas Lua @Nich_Lua]

Iran and its proxies can hamper shipping on two crucial chokepoints that control oil flows to Asia - we're all obsessed with the Strait of Hormuz lately, but have you forgotten the Bab el-Mandeb at the tip of the Red Sea?

[Nicholas Lua @Nich_Lua]

Here are three key charts that capture what Asian oil markets are watching as the Iran conflict expands-

🀄 Links to China, the world's largest oil refiner
⛽ Fuel exports, Iran LPG being key
🚢 Key shipping routes - a Red Sea disruption?

#oott

Link: https://t.co/teIbX4zzl3

[Nicholas Lua @Nich_Lua]

Iran is a major LPG exporter, and China imports almost a quarter of its LPG from Iran -- much to feed the world's largest plastics maker's hungry petchem plants