This week sees the start of the first quarter earnings season for oil companies, with reports from Equinor, Eni and TotalEnergies.
We will be closely monitoring any comments on the giant Johan Sverdrup crude field, by far the most prolific in Europe.
Several European companies are reporting an increase or stabilization in their overall upstream production.
The World Energy Congress opens today in Rotterdam. Market views are expected from Saudi Aramco CEO Amin Nasser, Patrick Pouyanné of TotalEnergies and Jeremy Weir of Trafigura.
Finland is set to reconnect to the European gas system this week with the reactivation of the Balticconnector gas pipeline to Estonia.
The pipeline was taken out of service after being damaged by a ship’s anchor in October, leaving Finland dependent on LNG imports.
Irish power producers will submit bids for capacity contracts for this year and next on Thursday, with results expected five days later.
System operators want to guarantee capacity in a very tight market.
The premium on availability is reflected in the auction’s price cap of 160,000 euros per megawatt, more than double the UK’s comparable cap.
In the petrochemical sector, participants from all polyurethane markets will gather from Tuesday in the Netherlands for the U-Tech 2024 trade fair.
Sentiment at the event will likely be bearish given recent supply constraints. Circularity is expected to be a major topic, with BASF and Covestro expected to unveil new sustainable materials.
My name is Vivian Iroanya, thanks for kicking off your Monday with S&P Global Commodity Insights.
