Latest news with #S&PGlobalCommodityInsights
The Star
27-07-2025
- Business
- The Star
German solar jobs drop with power prices
Workers install panels at a solar project BERLIN: Germany saw a steep decline in contracts between solar developers and corporate customers as plunging electricity prices undermine the viability of new investments. Contracted volume under so-called power purchase agreements, or PPAs, fell to about 250 megawatts (MW) in the first half of the year, according to data from consultancy firms S&P Global Commodity Insights and Aurora Energy Research. That's down from 1,000MW in the same period of 2024. That decline could threaten Germany's climate targets, which require photovoltaic capacity to more than double by 2030. 'Solar parks over 20MW that don't receive subsidies in Germany are hardly being built anymore as the market prices for PPAs are too low,' said Thomas Krings, managing director of Quadra Energy, which is part of TotalEnergies. Profits at European solar parks have fallen to record lows, as a surge in new capacity – without adequate storage solutions – pushed electricity prices into negative territory. In Germany, that's happening mainly around midday, when high solar generation coincides with lower demand from consumers. 'This trend has been apparent for around a year, but has become even more pronounced with decreasing capture rates and the current record levels of negative electricity prices in May and June,' said Krings. From 2027, a solar power project will only break even if it can sell electricity at around the mid-€50s per MWh under a 10-year contract, according to Bruno Brunetti, head of environmental markets and PPA analysis at S&P Global Commodity Insights. But right now, the price in Germany is just €41.40 per MWh. 'This market price would challenge the profitability even for plants with particularly good solar radiation conditions,' said Brunetti. The PPA model is also under increasing pressure as the level of climate ambition is scaled back, both globally and in Germany, said Casimir Lorenz, managing director for Central Europe at Aurora Energy Research. Contracts for solar parks combined with batteries could be one way for developers to provide customers with greater flexibility, he said. — Bloomberg
Business Insider
24-07-2025
- Business
- Business Insider
Lifting fuel from Dangote refinery costs more than importing from Togo, Dangote reveals
In a scathing indictment of the country's port infrastructure and pricing structure, Dangote revealed that lifting refined petroleum products from the Lekki-based refinery is now more expensive for oil marketers than buying from offshore storage depots in neighboring countries, such as Togo. Speaking bluntly at the just-concluded Global Commodity Insights Conference on West Africa's refined fuel market, regarding the economic inefficiencies afflicting the local market, Dangote cited a slew of port-related fees and regulatory constraints that local merchants confront. At the event, which was jointly hosted by the NMDPRA and S&P Global Commodity Insights in Abuja, Dangote noted that multiple fees at the refinery's loading point and discharge at domestic terminals, which are essentially absent when marketers import gasoline from offshore facilities such as the Lomé Floating Storage Terminal, were to blame. 'In terms of port charges, it is currently more expensive to load a domestic cargo of petroleum products from the Dangote Refinery, as customers pay both at the point of loading and the point of discharge. But when they load from Lome, which competes with us, they pay only at the point of discharge. This is simply unfair and unsustainable,' the Nigerian billionaire relayed. As reported by the Punch, after their findings, marketers who source fuel from the Dangote Refinery have to pay these charges. This was also reiterated by the Independent Petroleum Marketers Association of Nigeria National Publicity Secretary, Chinedu Ukadike. 'We don't load in Lomé, but for Nigerian distribution through the coastal route, it is easier to use the vessels here in Nigeria because it is interstate. Most of the international clearance and the rest is not applicable, because you would be able to avoid a lot of charges, both international and local charges,' he stated. 'It is better to load from Dangote via both means. But if you are loading coastal from another country, it is more difficult than when you are loading from Nigeria,' he added. However, some other players have cited the refinery's restrictive sale methods as a reason why there are complications in the supply chain. This point was elaborated on by Executive Secretary of DAPPMAN, Olufemi Adewole, who noted that the way Dangote conducts business does not benefit most local marketers, particularly small businesses that rely on flexible coastal supply chains. 'Since the advent of Dangote refinery, it has not been smooth sailing at all. We had preliminary meetings with their management. We received promises and assurances that we would be accommodated. We are ready and still willing to patronise Dangote. But the issue is, is Dangote ready to give us the product we want?' he stated. 'You don't get the price upfront,' Adewole explained. 'It is only after you've been cleared that a proforma invoice is issued. Meanwhile, there appears to be a select group Dangote prefers to trade with,' he added.
Korea Herald
23-07-2025
- Business
- Korea Herald
Growatt Achieves Global No.1 Residential PV Inverter Supplier in 2024
BERLIN, July 23, 2025 /PRNewswire/ -- Growatt, a world-leading provider of distributed solar and energy storage solutions (ESS), has secured top positions in the 2024 global PV inverter rankings, solidifying its leadership in the solar energy sector and demonstrating its strong performance across key market segments. According to the latest report, Growatt is ranked the: The rankings are based on the newly released 2024 PV Inverter Market Tracker by S&P Global Commodity Insights, a leading authority in global solar market intelligence. The latest results mark a step up from Growatt's 2023 performance, where it was named the Top 2 Residential PV Inverter Supplier and Top 5 Overall PV Inverter Supplier worldwide. "Being recognized by S&P Global as the top solar inverter brand in 2024—especially as the No.1 global residential PV inverter supplier—is a true honor," said Lisa Zhang, Vice President of Growatt. "This achievement is a testament to the strong partnerships, user trust, and tireless dedication of our global team." Empowering Millions with Reliable and Smart Solar Energy Solutions As a leading solar inverter brand, Growatt offers a comprehensive portfolio of solar energy solutions, including hybrid inverters, residential and commercial solar inverter systems, and smart energy storage solutions. Growatt provides smart energy solutions to customers in over 180 countries worldwide, powering millions of homes and businesses globally and empowering them to adopt clean, independent, and cost-effective energy. Thank You to Our Global Community Growatt extends heartfelt appreciation to its partners, distributors, EPCs, installers, and global users whose continued trust and support have made these achievements possible. From on-the-ground technical teams to regional sales and service partners, this success is shared by all who work toward expanding clean energy access. "This milestone belongs to our global network," said David Ding, CEO of Growatt. "Together, we are shaping a more sustainable and energy-resilient future." Commitment to Innovation, Service, and Sustainability Growatt continues to lead through strong R&D investment, allocating 4.5% of its annual revenue to research and development. The company operates four major R&D centers in Shenzhen, Huizhou, Xi'an, and Germany, and boasts a team of over 1,100 experienced R&D engineers specializing in photovoltaic and energy storage technologies. This solid foundation keeps Growatt ahead of the curve, with deep expertise in the core technologies driving solar energy generation and storage solutions. The company has also launched a wide range of AI-powered tools, energy storage systems with hybrid inverters, smart energy assistants, and intelligent monitoring platforms to optimize system performance and deliver seamless energy management for users worldwide. To further support global partners, Growatt has built an extensive network of training centers, after-sales support teams, and technical service hubs. This localized approach ensures that global users receive prompt and professional assistance. As a top solar company with global presence, Growatt remains committed to developing tailored solutions for emerging markets and strengthening its mission to be the most reliable solar inverter company in the clean energy transition. Founded in 2011, Growatt is a globally recognized provider of distributed solar and energy storage solutions, offering PV inverters, battery storage systems, EV chargers, and smart energy management platforms. With a strong R&D team and a presence in over 180 countries, Growatt continues to lead in technology innovation and customer satisfaction, empowering a greener, more sustainable future.
The Star
22-07-2025
- Business
- The Star
Uneasy stability in oil markets amid OPEC+ moves, Middle East ceasefire
Oil is going through a period of uneasy calm, but market players are pondering if it's a trend that would last. The higher-than-expected rise in OPEC+ production quotas for August, combined with a ceasefire between Israel and Iran, has provided oil markets some breathing space and introduced a bearish sentiment to prices, but rising expectations of potential additional sanctions on Russia by Washington could soon change the landscape and keep markets on edge. But one thing is becoming increasingly clear – even if geopolitics takes an ugly turn, it may not be able to overshadow the impact on fast-growing global supplies amid relatively slower demand. Amid heightened tensions in the Middle East recently, oil markets experienced a peak in the fear premium when Dated Brent surged past US$80 per barrel. However, in the third quarter of this year, S&P Global Commodity Insights expects Dated Brent to decline to the mid-US$60s per barrel. And by the end of the year, strong oil supply growth relative to demand is expected to push Dated Brent into the US$50s/b. The eight members of the OPEC+ alliance implementing voluntary crude output cuts agreed July 5 to hike their production quotas by 548,000 b/d in August, accelerating their claw back of market share. The group was of the view that members were encouraged by healthy market fundamentals, which was reflected in low oil inventories. The increase is 33% more than the previously agreed monthly increases of 411,000 b/d that the voluntary cutters had agreed in their previous three meetings. And there were expectations that the group would repeat the same for August. The alliance is bringing barrels back to market at a time of high seasonal demand, with the US entering its driving season while Middle East countries burn more oil to meet electricity needs. But despite this, oil markets are heading towards an oversupply scenario in the second half of 2025. Commodity Insights forecasts that the market could witness a surplus of more than 1 million b/d by the end of the year if OPEC+ members fully unwind the voluntary production cuts by October. Global commercial inventories may rise by over 600,000 b/d in August, escalating to an average of 1.7 million b/d from September to December, influenced in part by actual OPEC+ production levels. The sustained increase in OPEC+ output is likely to exert further bearish pressure on oil prices, particularly post-summer. Saudi Arabia's crude exports notably increased by 475,000 b/d to 6.17 million b/d in June, accounting for 90% of the total month-over-month growth among eight OPEC+ nations. This growth stemmed from inventory draws and increased production, with refinery runs and crude burn in the kingdom estimated to have risen by 140,000 b/d and 75,000 b/d month over month, respectively. Ceasefire does not mean end of conflict A ceasefire in the Middle East does not mean the conflict is over. The fear premium in oil prices can reappear overnight, bringing back uncertainties in the oil market. Israel's military success may have raised the possibility that Iran could ease 46 years of hostilities with the US and Israel, but for now, it's too early to jump to that conclusion. A weakened Iran could become more repressive internally and provocative externally. Much will depend on the internal and opaque political dynamics within Iran. But the impact on the oil market could be profound if trade and investment sanctions against Iran are eased or lifted. In addition, oil markets will closely monitor Washington's recent decision to remove Syria's oil ministry, its two refineries, and maritime authority from its sanctions list, as this could pave the way for the war-torn country's return to the international oil trade. US sanctions on Syria were officially lifted by President Donald Trump on June 30, following earlier moves by the EU and the UK to ease economic curbs on the country. Before the onset of the civil war in 2011, Syria pumped around 380,000-400,000 b/d of crude -- enough to meet its domestic consumption and supply some barrels to the international market. However, Syria's oil and gas fields and infrastructure have been badly damaged and neglected. Syria's crude production has plummeted to approximately 90,000 b/d from 442,000 b/d in 2004, severely limiting export potential until production recovers, according to Commodity Insights data. The removal of sanctions could eventually increase Syrian oil supply to global markets, though significant production increases will take time. Syrian crude grades, which are predominantly medium-heavy sour varieties, could eventually compete with similar Mediterranean grades once production and export infrastructure are restored. Threat of secondary sanctions Adding a layer of uncertainty to the market is the latest statement from Trump who said on July 14 that he would impose 100% secondary sanctions on any country that buys Russian exports if Russia does not reach a peace agreement with Ukraine in the next 50 days. The announcement came amid a bipartisan push in the US Senate to pass the Sanctioning Russia Act of 2025. The bill would impose a 500% duty on all goods or services imported into the US from any country that "knowingly sells, supplies, transfers, or purchases oil, uranium, petroleum products, or petrochemical products that originated in the Russian Federation," according to the bill text. To date in 2025, India, China, and Turkey have been the largest purchasers of Russian oil, according to data from S&P Global Commodities at Sea, collectively representing 53% of Russia's total waterborne exports. India has imported an average of 1.69 million b/d of Russian crude and condensates in 2025, while China took an average of 1.09 million b/d and Turkey 377,000 b/d, CAS data showed. Potential 100% US tariffs on China and India would have significant market ramifications and could alter Asian crude oil flows to a large extent. By now, top buyers of Russian crude must have started pondering about their Plan B in the event new US sanctions against Russia come into force. Sambit Mohanty is Asia Energy Analyst at S&P Global Commodity Insights, leading coverage for Platts Oilgram News for the Asia-Pacific region. Sambit is based in Singapore and has more than 25 years of experience as a senior journalist and editor analysing commodities and energy trends in the region. He holds a Master's Degree in Applied Economics.
Time of India
10-07-2025
- Business
- Time of India
India's US crude imports jump 51% in H1 2025; Brazil inflows rise 80%: S&P Global
New Delhi: India's crude oil imports from the United States surged 51 per cent in the first half of 2025 to 271,000 barrels per day (b/d), compared with 180,000 b/d in the same period last year, data from S&P Global Commodity Insights showed. Crude shipments from Brazil rose even more sharply, growing 80 per cent year-on-year to 73,000 b/d from 41,000 b/d in H1 2024. The growth signals an increasing shift by Indian refiners towards non-OPEC sources of crude as the country looks to diversify its energy basket. 'Crude supplies from the US have been rising but have been limited to a few refiners in India. This allows room for other refiners to grow US imports further during the year,' said Abhishek Ranjan, South Asia oil research lead at S&P Global Commodity Insights. Lower Chinese purchases of US crude due to higher tariffs have created an opening for India to increase its imports and simultaneously reduce its trade deficit with Washington. At the same time, diplomatic outreach to Brazil is showing results. Petroleum minister Hardeep Singh Puri visited Brazil last year to explore energy cooperation, including expanding crude imports and collaborating on deepwater exploration. Prime Minister Narendra Modi is also scheduled to visit Brazil later this month. US flows recover after dip Indian refiners had previously imported large volumes of US crude, but purchases slowed over the past two to three years as Russia emerged as a key supplier. Now, US flows are reviving. Modi's visit to the US in February and his discussions with American leadership on strengthening energy ties are seen as contributing factors. Trade dynamics have also played a role. The US announced reciprocal tariffs on India and other countries on April 2, but paused the increase for 90 days from April 10 to allow time for negotiations. Russia retains top supplier position Russia continued to be India's top crude oil supplier during January–June 2025, with shipments of 1.67 million b/d, marginally higher than 1.66 million b/d in the same period last year, according to Commodities at Sea (CAS) data from S&P Global. 'Volumes are rising again, supported by lower crude prices that enable higher volumes to be procured below the price cap. As the global oversupply is expected to continue putting pressure on prices, we expect Russian flows to remain at current levels, if not increase,' Ranjan said. Spot FOB Primorsk Urals crude exceeded the G7-led $60 per barrel price cap during the Israel-Iran conflict, crossing the threshold on June 13 and remaining above it until June 24. Platts assessed Urals FOB Primorsk at $56.32/b on July 1. Mixed trends from other suppliers Crude imports from Iraq and Saudi Arabia declined by 4 per cent and 2 per cent respectively in the six-month period. Shipments from Angola fell 22 per cent year-on-year, while inflows from Nigeria increased 26 per cent to 158,000 b/d. 'Gradually rising crude throughput in Dangote refinery will mean that those Nigerian crudes will not be able to support crude demand growth from India. There might be a few months of higher crude imports, but they should decline on an annual basis in terms of imports to India,' Ranjan added.
