Americas crude exports started to stagnate during the second half of 2024 with the US, the largest exporter, showing signs of slowdown. Similarly in Canada, exports out of Vancouver via the new Trans Mountain Expansion (TMX) pipeline also declined for

The FuelEU Maritime regulation, enforced January 1, 2025, aims to reduce greenhouse gas (GHG) emissions on a well-to-wake basis within EU and EEA waters.

The regulation mandates compliance with GHG intensity limits and promotes the use of alternative fuels and technologies.

What opportunities, challenges and risks does the world of energy and natural resources face in 2025? Our experts share their thoughts.

1. Brave new world

Geopolitics, trade and the energy transition: If last year was about elections, 2025 will see the consequences.

The global bunker market ended 2024 in a state of relative stability. In the first half of the year, multidirectional fluctuations were observed across indices, with moderate increases in 380 HSFO and VLSFO prices and a slight decline in MGO

North America

Bunker fuel availability in Houston remains tight across all grades, according to a source. High winds over the last few days have created some backlogs by delaying bunker deliveries in the port.

Deliveries can remain suspended due to high wind

Crude/condensate exports from the “Big-3” producers (Saudi Arabia, US and Russia) fell in December, led by a sharp drop in Russian-origin exports. A decline in December of key seaborne exports, particularly in the case of discounted Russian crude could be

Northwest Europe

HSFO supply is still tight for very prompt delivery dates in Rotterdam and other ARA ports, a trader said. Lead times of 5-7 days are advised for the grade.

VLSFO and LSMGO supply is good in Rotterdam, with lead times