Energy and commodities highlights: Political change in oil states, LNG in Europe, trans-Atlantic freight

Spring 2019 is ushering in important political changes that are being watched for their impact on oil and other commodities.

In Algeria new leadership was promised recently, following widespread protests. That's fuelled discussion aboutthe future of the country’s oil and gas industry.

Then on March 19, Kazakhstan’s president, Nursultan Nazarbayev, announced his resignation after nearly 30 years in power. The surprise announcement has similarly prompted questions about the direction oil and gas policy will take, after changes to tax legislation started to show signs of success in attracting new investment.

Away from politics, Australian commodity producers and infrastructure operators were bracing for disruption as Cyclone Veronica headed towards Western Australia. Port Hedland and Port Dampier were cleared of commercial vessels, which could put a hold on iron ore exports for several days. Oil trade through both ports is also likely to be affected,as well as LNG, which is exported from Port Dampier.

GRAPHIC OF THE WEEK

Go deeper: Factbox on Kazakhstan’s commodity sector transformation

VIDEO: LNG IN EUROPE

European LNG Chronicles: The Russia question

One year ago, markets were uncertain if Europe would, or even could, absorb the record levels of LNG forecast by Platts Analytics to be coming its way.

Today, with total LNG imports into Northwest Europe more than doubling and expected to remain elevated through the rest of the year, Senior LNG Analyst Samer Mosis says the question is no longer if, but for how long Europe will be able to continue importing this level of LNG.

WOMEN IN ENERGY

AFPM: US refiners woo women to diversify workforce, add to bottom line

Gender diversity – and what US refiners are doing to get there – was a main theme in this year's annual meeting of refiner trade group, the American Fuel & Petrochemical Manufacturers, held in San Antonio.

SHIPPING

Sanctions push trans-Atlantic product freight to Venezuela to huge premium

US sanctions on Venezuela are driving freight rates for clean oil products heading across the Atlantic to the country to enormous premiums, according to shipping reports.

AGRICULTURE

UK launch of E10 won't be until 2021: government official

The UK government will not be rolling out use of E10 gasoline before 2021, a representative of the Department for Transport said March 21.

THE LAST WORD

"There are vulnerable customers and France has shown us you need a social perspective. If we move too fast, and the transition is too costly you risk a backlash like the yellow vest movement."

– E.ON CEO, Johannes Teyssen,speaking about the challenges of decarbonizing heat systems at the Aurora Spring Forum in Oxford, March 19.