Southeast Asia’s Bitumen Market: Supply Surge vs. Mixed Demand
Bitumen markets in Southeast Asia are poised for a shift as increased export availability from South China meets a varied regional demand outlook for 2025, as reported by Argus Media. A combination of pent-up demand from delayed projects and new production initiatives could shape the market dynamics. Near-Term and 2025 Demand Prospects Pent-up demand from […]
Europe & UK Faces Energy Turmoil: Soaring Prices and Middle East’s Potential Role
Europe and the UK are grappling with escalating energy challenges as surging gas prices and concerns over renewable energy development dominate the agenda. In Europe, natural gas prices have surged to a one-year high of over €50/MWh, driven by colder-than-average weather, production outages, and below-average storage levels. EU gas storage is 71.8% full, falling short […]
India and Pakistan: Bitumen at a Crossroads
The bitumen market in the Indian subcontinent is a tale of two distinct yet interconnected narratives: India’s massive consumption driven by infrastructure needs and Pakistan’s evolving export dynamics. India: Growth Amid Financial Constraints India, the largest consumer of Middle Eastern-origin bitumen, has seen its annual consumption surpass 8 million tons in recent years. However, delayed […]
Africa sees $47 billion surge in oil and gas investment
In a significant boost to Africa’s energy sector, capital expenditure (capex) on oil and gas projects has reached an impressive $47 billion in 2024, marking a 23% increase compared to last year. This sharp rise highlights the growing interest of energy majors in Africa’s vast untapped resources and underscores the continent’s emergence as a global […]
Global Energy Markets Struggle Amid Gas Price Surges, Supply Disruptions, and OPEC+ Uncertainty
European natural gas prices have jumped nearly 45% this year, driven by cold weather forecasts and U.S. sanctions on Gazprombank, a key Russian financial entity. Northwest Europe is experiencing its first notably cold winter since 2021, with temperatures below the 30-year average, causing gas inventories to drop to 87.7% of capacity. LNG (liquefied natural gas) […]
Turkey’s Top Refiner Tupras Locks in Over 500,000t Bitumen Sales for 2025
Turkey’s largest refiner, Tupras, has signed agreements for the supply of over 500,000 tons of bitumen in 2025, sourced from its Izmit and Izmir refineries. As reported by Argus media, These contracts, awarded through a tender process, attracted major international players, including Rubis Asphalt, Continental Bitumen (Colas), and Vitol, highlighting Tupras’ critical role in the […]
Spain’s Huelva Refinery Bitumen Supply Restricted
Bitumen production and supply from Spain’s 220,000 b/d Huelva refinery have faced significant constraints over the past month, with no signs of recovery in the near future. Market participants, as reported by Argus Media, attribute the slowdown to a change in the refinery’s crude slate, moving away from bitumen-rich grades. However, the refinery’s operator, Abu […]
Russia’s Novatek to Raise Naphtha Exports to 600,000 Tons Monthly
Russian energy company Novatek is expected to boost its naphtha exports from the Ust-Luga complex on the Baltic Sea to up to 600,000 tons per month. This increase follows recent maintenance and the addition of a new processing unit, according to industry sources. Operations at Ust-Luga’s three condensate fractionation units were increased in early November, […]
