We would love to hear your thoughts about our site and services, please take our survey here.
No doubt QED scrambling to deliver alternatives to Egypt:-
"While $300 million in heavy fuel-oil imports are said to be on the way, a timeline for balancing out the grid and power shortages has not yet been revealed"
https://oilprice.com/Latest-Energy-News/World-News/Egypts-Energy-Hub-Plagued-With-Power-Shortages-Output-Declines.html
Thanks Graham:-
This milestone has been achieved thanks to the huge support of the SAE shareholders, stakeholders, and project partners.
Higher energy prices once again - If QED cannot capitalise now they never will.
https://www.reuters.com/business/energy/saudi-arabia-extends-voluntary-oil-output-cut-1-mln-bpd-end-2023-2023-09-05/
Very probing questions & gripes with detailed and measured response. As reluctant as I am I'll have to swallow the bitter pill again and dig deep for the O/O. Might have to put the wife out again down the docks like last time although time is moving on and like Quadrise she's getting close to her sell by date........
UK-based Rolls-Royce SMR says a joint feasibility report produced with Sumitomo Corporation shows its small modular reactors have an advantage over other available sources for the production of hydrogen.
https://world-nuclear-news.org/Articles/Rolls-Royce-SMR-puts-case-for-producing-hydrogen
There's enough real estate there for an SMR:-
Nuclear start-ups jostle in the race to build small modular reactors
Decommissioned sites are being lined up for new mini-reactors, with Bill Gates among the rival developers, writes Jon Yeomans
https://www.thetimes.co.uk/article/nuclear-start-ups-jostle-in-the-race-to-build-small-modular-reactors-vtzmkln2q
However I suppose if the Green lobbies managed to shut down the pellets there's a cat in hells chance of an SMR here for Uskmouth. Thoughts.....
Anybody know any potential diesel alternatives to offset supply shortages?
What about any solutions to free up distillate stock?
-----------------------------------------------------------------------------
LONDON, Aug 4 (Reuters) - U.S. distillate fuel oil inventories are depleting to critically low levels; either an imminent recession reduces consumption or prices are likely to surge higher.
Distillate fuel oil is the lifeblood of industry and the worsening shortage shows the economy is hitting hard capacity constraints in the short term.
https://www.reuters.com/markets/us/us-diesel-shortage-shows-economy-hitting-capacity-limit-2022-08-04/
"If the spread between HSFO and VLSFO is wide enough, the fuel-cost savings cover the cost of the scrubber installations and generate profits thereafter.
Shipowners have bought a lot of scrubbers. And the VLSFO-HSFO spread is now gapingly wide.
Scrubbers are “paying off in record amounts,” said Jefferies shipping analyst Omar Nokta in a client note Wednesday. “Several shipowners have disclosed a full payback already of their initial investment.”"
Stifel shipping analyst Ben Nolan said this week: “The spreads between high- and low-sulfur fuel have widened dramatically.”
https://www.hellenicshippingnews.com/ships-that-scrub-emissions-earn-twice-as-much-as-those-that-dont/
Gazprom stops Latvia's gas in latest Russian cut to EU
https://www.bbc.com/news/world-europe-62359890
QFI MSAR - Plan b perhaps.......
Well done Graham Reid and team. We kept the faith and you have and will continue to deliver amidst all the set backs of late.
The world is running out of its energy capacity which hit headlines after Saudi's Oil Minister proclaims that we've reached our capacity.
https://www.youtube.com/watch?v=RZd3CeuHG0g
Better had start getting more from than barrel then i.e. just add water.....its like pulling teeth.....isn't it......
Apologies if posted before, first time I've seen this~
https://youtu.be/CIYA6Jwwp4s
“Gupta wins reprieve from legal action to shut down some of his companies”
https://www.ft.com/content/ec73d03c-51ac-4b59-bcd0-bd54ef22a501
I assume the takeover waiver will retrospectively apply to any potential buyer of the Gupta shares in SUEH and therefore a token protection applies to the long term shareholders like myself in SAE therefore I’m continuing to average down. I take it that this king Eric character is shorting SAE, well fair enough, good luck, hopefully my long is more sensible.
My objective read on the situation in short is that the waiver aspect is a positive, the threat to SAE entity future operations has diminished, good. The negative is the ensuing court battle which will prolong the uncertainty further, personally I would have hoped to see GFG / Simeon removed from the equation as they hindrance rather than a support of the business. I don’t see any magic wand putting things right for GFG in the short term. IMHO Gupta and SAE need an out and I think this will resolve by way of sell off of SUEH which maybe facilitated by way of mutual agreement in Lew of court action. Fingers crossed the sooner the better that SAE get clear of the Gupta fiasco. Let’s hope the Simec shares are picked up by a proactive developer in the tech energy market. Good luck Atlantis!
Delighted to see positive news arise out of the recent negativity. Onwards and upwards. Good luck SAE.
Silenttalker wrote:- "This isn't the behaviour of a government that plans to approve planning permission that will facilitate a 220MW WfE power plant."
Perhaps in that case maybe you could advise Graham Reid and the associated board at SAE not to bother with the statement of case for converting the Uskmouth power station to run on a sustainable, lower carbon fuel which will not only benefit the local area, but Wales as a whole. Clearly they are wasting time and further monies.
Harry - I think if NRW approve the fuel change then SAE should be good to go. Given the planning permission is for upgrade of the fuel handling and storage and was already approved at council level then even if W.G undertake a holistic review as a result of the call in then I think they would find it very difficult but not impossible to allow the existing plant to operate on waste derived fuel for energy generation purposes. If W.G do kybosh the planning then I'd like to see what the plan B is from SAE. I think one of the sticky points already discussed on this forum is the importation of waste from essentially England and disposed of in wales however as far as I am aware Wales is part of our UK Nation of nations and therefore the waste could be seen as UK national waste disposal........presently, certainly better than sending it to Turkey. Maybe we should cut out the middle man and just flush our plastic down the toilet as it ends up in the sea regardless:-
https://plasticoceans.uk/the-story-of-the-new-ocean-generation/
"When news of the moratorium was released back in March, it stated that the moratorium was on 'new' EfW so there was hope that Uskmouth would perhaps not be classed as 'new' and therefore be exempt from the moratorium. The article now states, 'including those currently under consideration'."
My understanding is that the moratorium would certainly affect applications such as Buttington:-
"An official application for the Energy Recovery Facility project at Buttington was submitted to the Welsh Government by developer Broad Energy (Wales) earlier this month.
But after the Welsh Government confirmed to two local politicians that a moratorium on "new large-scale energy from waste" projects was to come into force immediately, opponents of the scheme now say they feel the plans could yet be dismissed."
https://www.countytimes.co.uk/news/19189445.welsh-policy-incinerators-could-halt-buttington-plans/
However Usk is an existing plant which in theory falls foul of W.G new environment policies however some pragmatism needs to established within that policy IMHO as Rome wasn't built in a day i'm not sure how realistic these policies are as some transition period will be required I would think. In a recent statement by SAE they said the permitting process via NRW was developing positively. From NRW I gleaned the following:-
"How will you decide whether to allow the EPR Permit Variation?
When we receive an application, we must decide whether or not to issue a variation. Our decision whether to issue or refuse is defined by legal requirements which are designed to control the environmental risks.
As part of our decision-making process, we scrutinise the proposals of any application to make sure the operator will be able to comply with all relevant legislation.
If all legal requirements will be met, we must issue the permit or variation. We cannot refuse a permit or variation solely because of local opposition to the activity. Our public participation statement details what matters are within our regulatory remit, and we can therefore consider.
Our focus is on the environmental effects of the permitted activity only. Other related activities (for example traffic and transport to and from the site) can have environmental effects but are outside of our remit (these matters are considered by the Local Authority Planning process). "
https://naturalresources.wales/about-us/news-and-events/statements/uskmouth-power-station-application-to-change-environmental-permit/?lang=en
"The Chinese owner of British Steel is interested in buying Sanjeev Gupta’s UK steel plants, setting up a potential geopolitical dilemma for Boris Johnson’s government.
Jingye Group, which acquired British Steel in late 2019, has told government officials it is willing to step in to take on parts of Gupta’s Liberty Steel, the UK’s third-largest producer, if the industrialist fails to find fresh funding, according to several people familiar with the matter.
Liberty Steel employs about 3,000 people across the country, including 1,600 at three sites in Yorkshire, which produce high-grade speciality steel for aerospace and defence customers.
Jingye “wants to set up an empire in the UK and there have already been discussions with government”, said one person familiar with the Chinese company’s thinking, while stressing that talks remain at an exploratory stage.
One official confirmed that the government was talking to Jingye. “They have expressed an interest in Liberty assets in the future,” he said. “However, it is not the government’s job to be playing matchmaker at this stage.”
GFG on Wednesday said it was making progress in the refinancing, and Gupta has previously vowed that the UK steel plants will not close under his watch.
In the event Liberty collapses, the Johnson government does not want to nationalise its assets. However, ministers have indicated that they are prepared to use the playbook by which British Steel was rescued two years ago.
The government indemnified the Official Receiver for almost a year — at a cost of £600m — meaning taxpayers covered losses at the business until it was sold to Jingye in November 2019."
https://www.ft.com/content/8f351cff-72a9-420b-b4d5-f74227cb4b67