A cargo of 0.5pc sulphur fuel oil traded in the Mediterranean at around $445-455/t, giving some indication of a nascent price point for product compliant with the forthcoming marine fuel sulphur cap.
News ID: 4140 Publish Date : 2019/03/24
Opec and its non-Opec partners still have plenty of work to do to rebalance global oil markets, and may need to extend their production restraint agreement to the end of 2019, UAE oil minister Suhail al-Mazrouei says.
News ID: 4139 Publish Date : 2019/03/24
A fire reginited today at Intercontinental Terminals' (ITC) storage facility in Deer Park, Texas.
News ID: 4131 Publish Date : 2019/03/23
Oil refiners are getting ready for a boom. The plants in Europe and the US are scaling back planned maintenance later this year in anticipation of a surge in demand and fatter margins as the shipping industry gets ready for a historic fuel switch.
News ID: 4079 Publish Date : 2019/03/19
OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the full impact of US sanctions on Iran and the crisis in Venezuela.
News ID: 4078 Publish Date : 2019/03/19
The UK’s crude oil loadings remained below 800,000 barrels per day for the third month in a row in February, while authorities expect Britain’s crude production to decline through at least 2024, Fotios Katsoulas, Liquid Bulk Principal Analyst, Maritime and Trade at IHS Markit, said.
News ID: 4072 Publish Date : 2019/03/19
Investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said.
News ID: 4071 Publish Date : 2019/03/18
National Iranian Oil Company is discreetly scouring the globe for second-hand oil tankers to replace its ageing fleet and keep crucial crude exports flowing as US sanctions start to bite, Iranian and western sources said.
News ID: 4022 Publish Date : 2019/03/14
State-owned National Iranian Oil Company has raised the official selling price differentials for all of its four crude oil grades loading in April and headed to Asia, a company source told S&P Global Platts Wednesday.
News ID: 4021 Publish Date : 2019/03/14
OPEC is sending a clear message to Wall Street banks and big investors: If Washington passes legislation that would allow the US government to sue the organization; the first victim will be shale.
News ID: 4019 Publish Date : 2019/03/14
Germany produced 10.3 million tons of oil and 26.1 billion cubic meters of gas in 2018, both down 3% year-on-year, industry association BVEG data showed on Tuesday.
News ID: 4000 Publish Date : 2019/03/13
When OPEC started an oil-price war in late 2014, most people believed U.S. shale was doomed. In reality, the giant oil majors suffered most — burdened by expensive mega-projects, Chevron Corp., BP Plc and the rest struggled to adapt to the fall in energy prices.
News ID: 3956 Publish Date : 2019/03/11
The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said the holding was building petrochemical projects totally valued at $8.5 billion dollars.
News ID: 3952 Publish Date : 2019/03/10
The CEO of the National Iranian South Oil Company (NISOC) said the company was planning to carry out 6 contract packages with Rls. 50,000 billion of credits by Masjed Soleiman Oil and Gas Production Company.
News ID: 3951 Publish Date : 2019/03/10
An official predicted that the US may extend a waiver for at least four of the eight nations that still import oil from Iran, stressing that Tehran should nonetheless look for unconventional methods to keep selling crude.
News ID: 3945 Publish Date : 2019/03/10
India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a waiver of US sanctions past early May, a report said.
News ID: 3944 Publish Date : 2019/03/10
Norway took a partial step in divesting oil and gas stocks in its massive $1-trillion wealth fund, approving the sale of smaller exploration companies while sparing the biggest producers such as Royal Dutch Shell Plc and Exxon Mobil Corp.
News ID: 3942 Publish Date : 2019/03/10
South Korea overtook China as the No. 2 destination for US crude behind Canada in 2018, as shipments to South Korea soared to a record high of 558,000 barrels per day in December while shipments to China have started to return from zero, according to Energy Information Administration data released Friday.
News ID: 3941 Publish Date : 2019/03/10
Brazil’s state-controlled oil company Petroleo Brasileiro SA, or Petrobras, announced plans to cut $8.1 billion from its operational costs in the period from 2019 through 2023, according to a securities filing released on Friday.
News ID: 3940 Publish Date : 2019/03/10
Oil prices dropped by more than one % on Friday as clouds gathered over the global economy after the European Central Bank (ECB) warned of continued weakness and fresh data showed Chinese exports and imports slumped last month.
News ID: 3918 Publish Date : 2019/03/09
