Monday, March 31, 2014

Saudi Aramco cuts April propane price to $770/T

State-run Saudi Aramco has cut its April contract price for propane to $770 a tonne, down $85 from the March level, an industry source said on Monday. Butane prices for April 2014 were also cut to $845 a tonne, down $25 from March level of $870. The prices provide a benchmark against which Middle East sales of liquefied petroleum gas (LPG) to Asia are priced. Following is a table of Saudi Aramco's contract prices of propane and butane per tonne in U.S. dollars. 

Product   April  2014  -   March2014     Change 
Propane  $770                         $855                 -85
Butane     $845                         $870                -25


Saudi Arabia February CP Price
The key energy commodity price trends of U.S. in 2013
Japan Energy Report
Saudi Arabia Energy Report
India Energy Report

Thursday, March 20, 2014

Energy supports European CO2 reduction target of 40 percent by 2030

Further expansion of renewable energies must be ensured / CO2 avoidance costs need to come politically in focus. "The German energy supports the European Commission and the German government expressly to it until 2030 to introduce a uniform Europe-wide CO2 reduction target of at least 40 percent. Makes Germany hope for agreement at the European Council, which may have a signal to investors and the international climate change negotiations. It is crucial 
 for investors to get as early as possible a reliable framework by 2030 for climate protection. The cause lies in the long-term investment cycles of companies in the fields of energy and environmental protection. Moreover, Europe was again a leading role for an ambitious, take effective climate policy with regard to the international climate change negotiations. " The stated Hildegard Müller, Chairman of the Executive Board of the Federal Association of Energy and Water Industries (BDEW), now before the meeting of the European Council on 20 and 21 March.

Müller also called for stronger politically to put the CO2 avoidance costs this year in focus. "The cost of avoided carbon dioxide emissions must not continue to be burdened with mainly electricity customers., If we want to reduce the CO2 emissions, we must above all the heat market and the transport sector in view have," said the chairman of the BDEW the Executive Board . 40 percent of emissions come solely from the heat market. Another 20 percent will be added from the transport sector. "The potential that can be raised here, so is enormous. The energy industry has developed to concrete proposals. We are this point in our discussions further strengthened significantly make," said Müller. The expansion of renewable energies in Europe must be ensured . This could Europe come closer to reaching the climate target is an important step, says Müller."BDEW also supports the European Commission for an EU expansion target of renewable energy by at least 27 percent proposal, since it also serves the fulfillment of binding climate protection target. Decisive but the exact form of the proposal is for this to be. Yet it is not clear whether a sole EU expansion target will also lead to substantial contributions of the Member States., where the Commission is required to submit more details., it must go in the future, especially about developing the total cost for the promotion of renewable efficiently than before. " An entanglement of renewable energy with the existing energy market is therefore essential. The renewable would gradually the competition questions and their offerings are increasingly in demand for electricity adjust. Müller urged participants of the European Council, is as soon as possible to agree on concrete common goals. "EU Commission's proposals are a good basis for the minimum target is that the Council agrees to a binding roadmap for an ambitious EU climate policy., it must be clear to when and in what increments the target discussion is to be continued and decided for 2030. This is important for the climate, for the international climate negotiations and especially for the investment and planning certainty for businesses in Europe, the need to implement these goals in the future. " In addition, the emissions trading scheme should be continued as a central instrument for greenhouse gas reduction and strengthened its credibility and integrity. The focus of the reform efforts must continue to the formulation of a Europe-wide mandatory CO2 target and the adjustment of emission limits to the EU's climate roadmap for a low carbon economy in 2050 through an amendment to the linear reduction factor are.