Whoever created this chart has no idea or clue on how SPR works or Days left calculation.

It is created on purpose to mislead public and non-energy professionals (even some energy professionals)

Why? please see below 🧵

#OOTT #Oil Firstly one should understand difference between
- What is required,
- what is consumed
- How much is produced locally,
- What is imported or exported
- What can be withdrawn

IEA guideline is 90 days of Net oil import.

It is NOT xx days of consumption

iea.org/energy-system/…

As #Nordstream pipeline continuous to be exposed to seawater, a quick 50,000ft note on metallurgy

For severe corrosive service like Seawater different grades of steel are used

Many can be confined to 2 types of Stainless Steel

1) Duplex Stainless Steel (SS)
2) Super Duplex SS In many cases sacrificial elements / coatings are also used to reduce corrosion.

Nord Stream pipeline is one such, a combination of Internal & External Coating.

Hence NS ended up with a FD grade CARBON STEEL pipes, as per DNV OS-F101 (German standard)

#NordStream2

We have multiple scenarios Russian Oil supplies likely to struggle beyond Winter

- Oilfield services leaving country
- Lack of spares for Maintenance
- Multiple fields shutdown in winter

- EU sanctions kick-in Dec-22
- India/China import volume peak
- Price cap

#OOTT #Oil 2/ The technically challenging fields will be the first to be affected with foreign companies exodus

- Sakhalin 1 production came down
220,000 bpd to 10,000 bpd

hellenicshippingnews.com/rosneft-says-s…

Good simple explainer on Nord Stream ongoing issue. #OOTT #Gas.

https://twitter.com/sstapczynski/status/1553615304525500416

Adding few numbers to .@SStapczynski explainer

To move any fluid from point A to B in a pipeline has to be pressurized, be it Oil / Water /Natural Gas

Nord Stream is a 1,224 km (760 mile) long pipeline with most of it undersea

Gas from Portovoya has to travel all this distance

What many don’t get about Germany’s industrial scale.

BASF Ludwigshafen industrial site

- Size: 10 square km (4 sq. miles)

- Electricity: ~6000MW every hour

- Site 2021 Revenue: €25.04 billion

- Employees at site: 38,371

#OOTT

basf.com/global/de/docu… Saw a tweet earlier by Lion Hirth on the Gas consumption at site made me tweet about the details.

This is one of best examples of what .@FinEconGlobal often refers to Germany as one giant factory.

India’s overall fuel consumption in Feb-22 was 2nd highest ever in its history

This despite Jet Fuel being well below pre-pandemic.

A sharp increase in Gasoline & LPG consumption pushed it up

Consumption
Feb-22: 4.60 million b/d
Jan-22: 4.16 mb/d
Feb-21: 4.36 mb/d
#OOTT #Oil 2/4 #India recorded highest Gasoline consumption ever in its history in the month of Feb-22

Consumption
Feb-22: 667k b/d
Jan-22: 584k b/d
Feb-21: 647k b/d

#Gasoline

A short thread on why I believe Oil & Gas demand will continue to rise despite all climate talks

1) We need to recognize, Demand Growth will remain high in APAC & Africa for O&G products despite all renewable initiatives.

#OOTT #Oil #Gas 2/ After Gasoline & Diesel the highest proportion of product consumption is LPG.

A major product in Domestic and Industrial cooking. APAC & Africa alone have >2 billion people without proper access to this fuel.

Ofcourse Natural Gas can contribute but #LPG is popular here.