More than half of respondents to Scottish Renewables’ supply chain report said that domestic market conditions are making it more difficult to win work. Of those who answered the trade body’s questions, 60% did not think that the UK and Scottish governments are enabling the right market conditions for Scottish businesses to compete and secure contracts. This response was seen as “concerning” by Scottish Renewables’ director of energy transition and supply chain, Emma Harrick. She said: “If we want to unlock the full potential of this industry, that gap must be addressed. “And if we’re serious about delivering on our clean power potential and building a world-leading green economy, we need to think bigger than we ever have before. “This means urgently delivering an economic environment that maximises the entrepreneurial spirit of our clean power supply chain.” © Mhairi EdwardsThe arrival of Edda Brint_Edda Wind Service Operation Vessel (SOV) for Seagreen offshore wind farm at Montrose Port. In addition to this, 64% of those who answered Scottish Renewables’ questions said that project pipeline uncertainty within the renewables market is a significant barrier to scaling up their businesses. However, 36% said that “pipeline uncertainty does slow down progress but we are adapting”. Policy uncertainty was also reported as the biggest “challenge” facing Scotland’s renewable energy supply chain. “Navigating policy changes and regulatory uncertainties” was voted on by 36% of respondents as the “most pressing” issue facing their business. Securing enough “skilled talent for the growing industry” was the second biggest challenge at 28%, while 24% listed supply chain bottlenecks and materials shortages, and 12% mentioned attracting sufficient investment to “meet project demands”. More needed to crack supply chain ‘conundrum’ At a recent Aberdeen event, Scottish Renewables chief executive Claire Mack said that the green energy sector “has yet to crack the

Vitol Group has stepped up oil purchases in Venezuela in the final weeks of a US license that allows the world’s largest independent oil trader to do business in the sanctioned nation. Vitol is set to load at least 2.5 million barrels of Venezuelan oil this month, according to documents seen by Bloomberg. It has more than doubled buying in April compared with March, when it took 1 million barrels, the data shows. Vitol’s license to operate in Venezuela hasn’t been previously reported. The company aims to move Venezuelan oil for as long as it can while remaining in compliance with sanctions, said a person with knowledge of the situation who asked not to be identified discussing non-public information. US President Donald Trump has ratcheted up pressure on Venezuelan President Nicolas Maduro’s regime, which he says poses an “extraordinary threat” to US national security. Trump is targeting Venezuela’s oil because it’s a major source of government revenue, and has revoked licenses for foreign energy companies operating there, including Chevron Corp., Repsol SA, Eni SpA, and Maurel & Prom. In contrast to Vitol, which trades with Venezuela and doesn’t operate any assets there, those other companies produce oil and gas in the country and are winding down operations ahead of the expiry of licenses issued by the US Treasury. The deadline for all the companies, including Vitol, to cease operating is May 27. Vitol’s latest purchases are being made under the terms of an agreement it signed in 2023, said another person familiar with matter. The trading company, which is headquartered in London, hasn’t inked any new Venezuelan deals since then, the person said. A spokesperson for Vitol declined to comment. A spokesperson for the White House National Security Council deferred to Treasury, which declined to comment. State oil producer Petroleos de

Oil dropped as the global trade war hurt the outlook for demand, with data indicating signs of strain in the US economy. West Texas Intermediate slipped 2.6% to settle around $60 a barrel, the lowest close in more than two weeks. The widely referenced US consumer confidence gauge weakened significantly in data released Tuesday, another sign of the pessimism stemming from President Donald Trump’s levies. Additional reports due this week, including manufacturing data out of China, will shed further light on the economic strength of the world’s biggest importer of crude. A handful of spreads along the futures curve traded in contango on Tuesday as traders brace for a “meaningful surplus” in the future, according to Morgan Stanley. At present, Brent’s nearer months are still pricier than those next in sequence, forming a rare configuration with little historical precedent, according to the firm. US crude is on track for the largest monthly loss since 2021, with prices battered by tit-for-tat tariffs between the US and its trading partners, as well as by OPEC+’s plans to revive more production. While many countries are entering into trade negotiations with Washington, Beijing says it has so far declined to engage. There is now an “elevated probability” that Saudi Arabia and other key OPEC+ nations opt to accelerate planned supply increases at the upcoming May 5 meeting, JPMorgan analysts led by Natasha Kaneva said in a note. “It is becoming clear to the market that growth over recent months has primarily been driven by stockpiling and pre-tariff hoarding,” said Arne Lohmann Rasmussen, chief analyst at A/S Global Risk Management. “That effect is fading, which could lead to a sharp decline in US growth as consumption starts drawing down existing inventories instead of boosting production.” Geopolitical tensions are showing signs of cooling, increasing the prospect

WASHINGTON—U.S. Secretary of Energy Chris Wright will travel to Griffin, Georgia, on Friday, May 2, to tour Rinnai America Corporation’s manufacturing facility. Secretary Wright will deliver remarks highlighting the Department’s progress in unleashing American energy dominance, protecting consumer freedom, and restoring energy leadership in the first 100 days of the Trump Administration.  Since taking office, Secretary Wright has postponed several burdensome Biden-era appliance mandates, including the rule targeting non-condensing tankless water heaters. Rinnai is the only company manufacturing non-condensing tankless water heaters in the United States. A Biden-era rule would have effectively banned these products—putting more than 200 Georgia jobs at risk, undermining U.S. manufacturing, and stripping away a cost-effective, high-efficiency option from American households. The visit marks the Department of Energy’s “First 100 Days of Unleashing American Energy Victories,” which includes: Halting restrictive appliance rules to defend consumer choice and protect domestic manufacturing jobs. Supporting energy-efficient innovation by preserving access to advanced home technologies. Reforming federal regulations to allow market-driven solutions and prevent government overreach in household energy use. Defending American competitiveness by ensuring manufacturers like Rinnai can continue producing energy-saving products in the U.S. Delivering relief to families by eliminating costly mandates that would have raised appliance prices across the board. Please contact [email protected] for press availability or media inquiries.

In an oil and gas report sent to Rigzone late Monday by the Macquarie team, Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up by 4.3 million barrels for the week ending April 25. “This compares to our early look which anticipated a 7.0 million barrel build. On the product side of the ledger, in aggregate, our expectations are little changed,” the strategists noted in the report. “For this week’s crude balance, from refineries, we model crude runs slightly lower (-0.1 million barrels per day). Among net imports, we model a moderate increase, with exports (+0.5 million barrels per day) and imports (+1.0 million barrels per day) higher on a nominal basis,” they added. The strategists warned in the report that timing of cargoes remains a source of potential volatility in this week’s crude balance. “From implied domestic supply (prod.+adj.+transfers), we look for a small increase (+0.1 million barrels per day). Rounding out the picture, we anticipate a larger increase in SPR [Strategic Petroleum Reserve] stocks (+1.0 million barrels) this week,” the strategists went on to state. “Among products, we look for draws in gasoline (-2.3 million barrels) and distillate (-1.3 million barrels), with a build in jet (+0.5 million barrels). We model implied demand for these three products at 14.0 million barrels per day for the week ending April 25,” they continued. In an oil and gas report sent to Rigzone by the Macquarie team late Thursday, Macquarie strategists outlined that they saw “a large U.S. crude build” in the U.S. Energy Information Administration’s (EIA) next weekly petroleum status report. That report is scheduled to be released on April 30 and will include data for the week ending April 25. The EIA’s latest weekly petroleum status report at the time of writing was released

Industrial bodies in the Humber are calling on the UK government to back Harbour Energy’s proposed Viking carbon capture and storage (CCS) project in the region. The backing comes after the UK government reached financial agreements with offshore CCS projects in Liverpool Bay and Teesside in recent months. Harbour Energy’s Viking CCS project was shortlisted for Track-2 status by the previous Conservative government in 2023 alongside the Acorn Project in Scotland. Since taking office last year, Labour has committed £22 billion in funding for the HyNet North West and East Coast Cluster Track-1 CCS projects. But the UK CCS sector has been calling on the government to “urgently” provide funding certainty for Viking and Acorn so they can move ahead. Humber industry backs Viking CCS In a joint statement, a group of Humber and UK trade bodies called on Labour to provide firm backing for Viking. The group includes the Northern Powerhouse Partnership, Hull and Humber Chamber of Commerce, Humber Energy Board and the Carbon Capture and Storage Association (CCSA). The trade bodies also backed Immingham gas plant operator VPI’s ambition to be the anchor emitter for Viking. © Supplied by VPIAn overhead view of the VPI Immingham plant in the Humber region. VPI is planning to invest £1.5 billion in a carbon capture facility at its Immingham plant, before using Harbour’s Viking project to transport and store CO2 emissions under the North Sea. The firm estimates the Immingham carbon capture project could create 1,500 jobs at peak construction, alongside a further 20,000 jobs for the wider Viking plans. Establishing Viking could also create a “huge” CO2 import opportunity for the UK, the trade bodies said. Viking will ‘secure the future’ of Humber industry Humber Energy Board executive director Jonathan Oxley said Viking CCS is a “key component” of efforts