UK-based bank HSBC has filed a court application to place Singapore-based trading firm Zenrock Commodities under judicial management, piling further pressure on the city-state's oil trading sector following the collapse of counterpart Hin Leong last month.
News ID: 9349 Publish Date : 2020/05/06
China has issued its second batch of oil product export quotas for this year, again restricting exports to state-controlled firms.
News ID: 9348 Publish Date : 2020/05/06
Physical trading of northwest European benchmark biodiesel grade Fame 0°C CFPP (Fame 0) hit a record high in April, supported by spot price declines during Covid-19 lockdowns in the EU and following record volumes of futures trading for the grade in March.
News ID: 9343 Publish Date : 2020/05/06
The latest botched effort to oust Venezuelan president Nicolas Maduro has dealt a harsh blow to the US-backed political opposition's ambitious plans to install an interim government and reinvigorate the Opec member's oil sector.
News ID: 9342 Publish Date : 2020/05/06
North Dakota state regulators have established a task force to facilitate the recovery of the oil and gas industry for the state.
News ID: 9337 Publish Date : 2020/05/06
Oil prices fell in early trade on Monday, paring last week’s gains, on worries the global oil glut may persist as US-China trade tension could hold back an economic recovery even as coronavirus pandemic lockdowns start to ease.
News ID: 9333 Publish Date : 2020/05/04
OPEC’s crude production surged by the most in almost 30 years last month as its biggest members fought to dominate a global market devastated by the coronavirus crisis.
News ID: 9311 Publish Date : 2020/05/03
China’s March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, while purchases from No. 2 supplier Russia rose 31%, Reuters’ calculations based on customs data showed on Sunday.
News ID: 9310 Publish Date : 2020/05/03
India has filled all its available crude storage capacity, including commercial and strategic petroleum reserve (SPR) facilities, and is holding around 50mn bl in floating storage, oil minister Dharmendra Pradhan said.
News ID: 9306 Publish Date : 2020/05/04
The Dutch Caribbean island of Aruba is offering to lease oil storage after terminating an ill-fated refining project with PdV Holding (PDVH), the opposition-controlled US subsidiary of Venezuela's national oil company PdV.
News ID: 9301 Publish Date : 2020/05/04
Director of Compressed Natural Gas (CNG) Projects at the National Iranian Oil Products Distribution Company (NIOPDC) says the necessary infrastructure is prepared for developing the CNG sector to be able to distribute 30 million cubic meters per day (mcm/d) of gas across the country.
News ID: 9295 Publish Date : 2020/05/03
Iranian President Hassan Rouhani has instructed Oil Ministry to take the necessary measures for increasing the presence of oil and petrochemical companies in the stock market, Shana reported.
News ID: 9289 Publish Date : 2020/05/02
Director of the 3rd South Pars refinery which receives natural gas from phases 4 and 5 said the refinery is working with one of the country’s science and technology parks on a project to increase the quality of the refinery’s liquefied petroleum gas (LPG) product, IRNA reported.
News ID: 9288 Publish Date : 2020/05/03
Diesel and gasoil shipments are piling up outside the key northwest European trading hub of Amsterdam-Rotterdam-Antwerp (ARA), as cargoes converge in the hope of finding storage space or inland buyers. But market participants say the region's tanks are almost completely booked up.
News ID: 9283 Publish Date : 2020/05/01
Australian independent Woodside Petroleum expects low oil prices to persist for the rest of 2020 and into next year, given lower energy demand amid the Covid-19 pandemic from an oil oversupply across large producers.
News ID: 9280 Publish Date : 2020/04/30
The official selling price (OSP) for medium sour Oman crude has fallen to its lowest level in 18 years as the Covid-19 pandemic cuts global demand.
News ID: 9278 Publish Date : 2020/04/30
Japanese trading house Sumitomo is partnering Malaysian offshore oil services firm Yinson in owning and chartering a floating production, storage and offloading (FPSO) vessel for state-controlled Petrobras' Marlim II project in Brazil.
News ID: 9277 Publish Date : 2020/04/30
A bleak demand outlook and increased flexibility in term contracts with state-controlled Petrobras are fostering the development of spot gasoline and diesel markets at the Santos and Paranagua ports.
News ID: 9274 Publish Date : 2020/04/30
The prospect of a revival in Libya's oil sector is being clouded by attempts to dissolve a UN peace framework.
News ID: 9273 Publish Date : 2020/04/30
US Gulf coast heating oil prices have sunk to deep discounts to an intermediate grade for which it can potentially substitute. But prices are not rebalancing based on interchangeability, because refiners are focused on cutting gasoline production.
News ID: 9269 Publish Date : 2020/04/29
