Weekly Oil Bulletin: Market Observatory for Energy (10 December 2018)

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Oil Market Report: A floor under prices?

OPEC and some non-OPEC oil ministers met in Vienna last week and agreed to curb their output by 1.2 mb/d in order to address growing surpluses in the market. The agreement aims to achieve relative stability and to bring the market towards balance. So far, the Brent crude oil price seems to have found a floor, remaining close to $60/bbl much where it was when the ministers met. Recently, prices have been volatile; in early October Brent crude oil prices reached $86/bbl on concerns that the market could tighten as Iranian sanctions were implemented. Then, thirty-seven days later, they fell back to $58/bbl as producers more than met the challenge of replacing Iranian and other barrels. Such volatility is not in the interests of producers or consumers.

Official Journal (C Series): Communication from the Government of the Republic of Poland concerning Directive 94/22/EC of the European Parliament and of the Council on the conditions for granting and using authorisations for the prospection, exploration and production of hydrocarbons

UPDATED – Merger Case: M.9207 IFM INVESTORS / VITOL / VTTI

Press Release: Council conclusions on a homogeneous extended internal market and EU relations with non-EU Western European countries

Scientific Committee on Health, Environmental and Emerging Risks SCHEER: Opinion on the public health impacts and risks resulting from onshore oil and gas exploration and exploitation in the EU

Question for Written Answer: Legality of Shell tax arrangements under state aid rules

UPDATED – Merger Case: M.9067 EQUINOR REFINING NORWAY / DANSKE COMMODITIES

Written Answer to a question: ‘NORM’ waste

Written Answer to a Question: Syrian oil supplies via EU Member States

Communication from the Commission: Towards a stronger international role of the euro

Agenda: Working Party on Energy (4 December 2018)

Updated – Agenda: Coreper 2 Meeting (28 November, 30 November & 3 December 2018)

UPDATED – Merger Case: M.8689 RUBIS / PHILLIPS 66 / ZELLER & CIE

OPP Meeting Summary: EP Plenary – Strategy for long-term EU greenhouse gas emissions reduction in accordance with the Paris agreement (28 November 2018)

Press Release: Whatever happened to enhanced oil recovery?

Even with modern production techniques, a large share of the oil in a reservoir is not produced during primary and secondary recovery (read a description of EOR on our new CCUS page or in the explainer below). Some of this oil can, however, be accessed through the use of more complex and energy intensive extraction techniques such as the injection of heat, chemicals, CO₂ or other gases. These techniques have been successfully and commercially deployed in multiple countries over many decades.

Informal meeting of transport and environment ministers (Graz, 29-30 October 2018)

Press Release: Executive Director visits Norway and Denmark

OSLO and COPENHAGEN – Dr Fatih Birol, the Executive Director of the International Energy Agency, visited Norway and Denmark to present the latest findings from the World Energy Outlook, highlight the IEA’s emphasis on carbon capture, utilization and storage, and discuss the state of the global energy system.

Press Release: IEA holds meeting with Energy Business Council

The International Energy Agency on Wednesday held a meeting of the IEA Energy Business Council, which brings together representatives of the world’s largest energy companies, to discuss the state of the global energy system.

Stakeholder Press Release: Long-Term Emissions Reduction: Stakeholders Discuss Potential for Renewable Liquid Fuels

A week away from the release of the European Commission’s 2050 “Long-Term Strategy” for emissions reduction, three Brussels based organisations, Eurofuel, ECFD and UPEI – jointly with their respective German members – presented and debated the results of the Prognos Study “Status and Perspectives for Liquid Energy Sources in the Energy Transition”. The Prognos Study was commissioned by the four organisations representing the mineral oil sector in Germany. Whilst the study focussed on an analysis of the German market, the findings can be extrapolated on an EU wide level. The event was held on 21 November 2018 in Brussels and gathered experts and professionals from the transport and heating fuels sector.

OPP Meeting Summary: EP ITRE Committee – Labelling of tyres with respect to fuel efficiency and other essential parameters (21 November 2018)

Written Answer to a Question: Ban on the sale of diesel and petrol cars

OPP Meeting Summary: EP ENVI Committee – Vote on Labelling of tyres with respect to fuel efficiency and other essential parameters (20 November 2018)

Press Release: The Slovak Republic is improving its energy security, according to latest IEA country review

Stakeholder Event: Status and Perspectives for Liquid Energy Sources in the Energy Transition (Brussels, 21 November 2018)

A new study carried out by Prognos AG is looking into the status and perspectives of liquid energy sources and their possible contribution to the energy transition. Join us for a presentation of this study and a debate with renowned experts from institutions, industry, civil society organisations and the academic world about Europe’s future energy supply and the perspectives for liquid energy sources.