At Asia’s APPEC, energy transition and Russia steal the limelight

At the Asia-Pacific Petroleum Conference, the focus was on energy transition, carbon intensity, biofuels, and water intensity in commodity production. The complex nature of the oil market, extreme weather events, and value vs. volume were discussed. Concerns over the diesel market, high distillate cracks, and the impact of the price cap on Russian oil revenues were explored. Transparency in the price cap mechanism and the existence of an alternative market were highlighted. New assessments for diesel in Brazil and an upcoming event in Singapore were also mentioned.