The US imposed its most aggressive sanctions on Russia’s oil industry yet, as the Biden administration looks for last-minute ways to boost Ukraine’s leverage in possible peace negotiations after Donald Trump takes office. The measures, announced Friday, targeted an unprecedented number of tankers with notable new additions to the sanctioned vessel list including 5 VLCCs, 14 Suezmaxes, 32 Aframaxes, and 13 LRs. The announcement also targeted two firms that handle more than a quarter of Russia’s seaborne oil exports, as well as important insurers and traders linked to hundreds of cargoes. In a statement, Treasury Secretary Janet ...
Policy Implications Under New Trump Administration
Dec. 6, 2024
The prevailing sentiment is that the new Administration will create a more favorable tax environment. Changes to much of the 2017 Tax Cuts and Jobs Act (TCJA) provisions will be on the table in 2025, including, but not limited to, individual, corporate and capital gains tax rates. These could have meaningful consequences for individual investors and businesses, as well as for US debt and deficits. A removal of the $10,000 cap limiting the state and local tax (SALT) deduction, for example, could add about $200 billion to the federal deficit. Republicans also have proposed decreasing the corporate income tax ...
McQuilling SulNOx Press Release
Dec. 3, 2024
McQuilling Partners, Inc. (“McQuilling”) is pleased to announce that a wholly owned subsidiary has invested in SulNOx Group PLC ("SulNOx") and will be the preferred partner to promote and sell the SulNOx products in the U.S. market.
John M. Schmidt, CEO of McQuilling, commented, “We are excited to conclude this investment in SulNOx and to actively engage in growing the business, particularly in the U.S. market. SulNOx has developed an impressive product that reduces liquid hydrocarbon fuel consumption, associated greenhouse gases and harmful particulate matter emissions. We look forward to extending our partnership and offering these very compelling ...
China’s Crude Oil Imports
Nov. 22, 2024
The determinant of China’s crude oil import preference has mainly been based on the pricing discount they can achieve as Russian barrels remained cost-competitive. China’s crude import has been largely driven by prices on the delivered basis, which explains the significant jump in volumes from Russia and other unconventional exporters. Imports from others including OPEC and non-OPEC countries in the Middle East, West Africa, North and South Americas moved sideways since 2021 (grey area in the left graph), with this volume further sliding in 2024 amid pressured refining margins and runs reported by state-owned oil majors. Geo-events and ...
West to East Russian Crude & Fuel Oil
Nov. 8, 2024
West-to-East cargo flow, which has been dominated by Russian exports to the East, simultaneously trending lower in 2024 for both crude and refined products. On the crude side, exports to Northern Europe saw a notable decline since Russia’s invasion in Ukraine, while Far East and India rapidly increased their intake of Russian crude since then. These export levels expanded further after the Price Cap being adopted; however, exports to the Far East (predominantly exports from the Baltic and Black Sea to China), significantly retreated since the Red Sea disruption. Despite Houthi promises not to attack Russian and Chinese ships ...
