China's Refinery Output, Norway Gas Exports: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

REFINING
China Refinery Output Drops to Two-Year Low - China's refinery crude throughput fell last month to its lowest since March 2020 as several state refiners underwent unplanned shutdowns and their independent peers trimmed production in response to thinning margins. Refiners processed 53.21 million metric tons of crude oil in July, 8.8% less than a year earlier, according to data from the National Bureau of Statistics. That is equivalent to 12.53 million barrels per day (BBL/d), the lowest daily rate since March 2020, and compared with 13.37 million BBL/d in June. (Reuters)

COAL
South Africa's Coal Exports to Europe Surge - South Africa's coal sales to Europe rose eight-fold during the first half of 2022 compared with last year as demand for the fossil fuel surged ahead of a ban on Russian coal, Thungela Resources said on Monday. In April, the European Union announced a ban on coal imports from Russia as part of sanctions for its invasion of Ukraine. The ban came into effect on August 10. Ahead of the ban, European countries, which previously imported 45% of their coal from Russia and have been switching away from expensive natural gas to coal, started to source the fossil fuel from other countries, including South Africa. Thungela, a coal exporter and part of a consortium which owns Africa's largest coal export facility, the Richards Bay Coal Terminal (RBCT), said Europe was competing with Asia for South African coal. "It's worth noting that coal exports from RBCT into Europe have increased by about 720% from half a million tonnes in [first-half] 2021 to 4.1 million tonnes in the first half of 2022," Thungela Chief Financial Officer Deon Smith said during an investor call. (Reuters)

NATURAL GAS
Norway's Natural Gas Exports Hit Record High - Norwegian natural gas exports hit a record high of US$13.26 billion in July as prices and demand in Europe surged amid disruption of Russian supplies, official data showed on Monday. Natural gas revenues were four times higher than for July last year, while the volume of gas sold rose by 5.7% to 10.2 billion cubic meters, Norway's statistics office said. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.